Taxing The Rich

[danielpalos]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

 

[danielpalos]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

These Dem idiots never learned what Kennedy, Reagan and Trump learned. Cutting taxes puts more money into the economy and the Fed coffers than raising them ever did. They will never, ever learn that lesson.

Imbeciles is what they are.

Trickle down economics has never worked, but it does enrich the rich enormously.

Trickle down economics doesn't work...BECAUSE TRICKLE DOWN ECONOMICS DOESN'T EXIST! It's something that was made up by the left to denigrate Supply Side Economics. Whenever someone starts talking about trickle down economics it's a sure sign they don't have a clue about economics in general!

Lol. Trickle down economics is just another name for supply side economics. You must know that right?

We have a demand problem not a supply problem. In modern times, capitalists should be able to automate to increase supply.

 

[Maxdeath]

Not taxing them isn’t working either. We can’t borrow forever.

While that’s an issue, the much bigger issue is the ultra wealthy buy all sorts of benefits from government. They get what they want and it is almost always at the detriment of the rest of us.

A good example is around 70% of Americans, including many enlightened republicans, want Medicare for All. However, since the ultra wealthy don’t want this, it doesn’t happen.

I'm not wealthy and I don't want it.

Government has been looking to control the people forever. They've been somewhat successful. The only two vestiges stopping them from total control over us are healthcare and energy. Once government controls those two things, they have the ability to to totally control our lives from birth to death.

Lol. Well that does it. You don’t want it so that’s the end of story.

Of course you’ve been duped by the wealthy to think as you do.

Our HC system is a total failure. Time to change it.

Funny! You think that the government does such a good job with everything else that we should turn healthcare over to them also?
Tell me one thing that government has ever done that has been done well and done cost effectively.
I would wait but we all know that the answer is nothing.
Funny that everyone used to point to Canada as a shining example of government healthcare. But now suddenly they are realizing that there are extremely long wait times. Canada is moving towards individual healthcare and some Canadians are coming to the U.S. to have things taken care of.
Now why would we want a government that can not properly do anything to do healthcare? Why would we want to follow in Canada’s footsteps when they are coming over to our way.
if we could just get the government to allow insurances to sell the same policy across all states prices would drop. But when you have to have a different policy for one state but then have a completely different one for a state right next to it the cost has to go up. But yet we allow the government to have a hand in screwing up individual insurance.

 

[Maxdeath]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

 

[danielpalos]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

 

[Maxdeath]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

Oh yes some studies. I have no doubt that I can find some study that shows that not taking a dump each day won’t hurt you.
Are you really stupid enough to believe that companies will go broke rather Then pass on a price increase? Even at five percent. Do that across every company. That means five percent on fuel, food, clothing, electricity, on and on.
What Keeps those companies from buying automation that costs them up front but costs them next to nothing hourly?

 

[DBA]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

Just plain idiotic.

 

[DBA]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

Prices aren't the same everywhere. Why are Democrats pushing for a national minimum wage? Should an engineer in rural Mississippi should make the same as an engineer in Manhattan? Why not? The economy doesn't work that way chief.

 

[Maxdeath]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

I don’t know where you live but where most people live the cost of labor has been going up. In my area you can go to work at McDonalds for more then minimum wage.
Minimum wage of $15.00 an hour will not get you the same things as other areas.
I know that you are unable to comprehend this but why not allow states to set minimum wage since they understand their economy better then the federal government? Oh I know because then the federal government would not be in charge of everything in people’s lives

 

[danielpalos]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

Oh yes some studies. I have no doubt that I can find some study that shows that not taking a dump each day won’t hurt you.
Are you really stupid enough to believe that companies will go broke rather Then pass on a price increase? Even at five percent. Do that across every company. That means five percent on fuel, food, clothing, electricity, on and on.
What Keeps those companies from buying automation that costs them up front but costs them next to nothing hourly?

You need an argument not just your right wing Hoax. Prices won't double even if the minimum wage does.

 

[danielpalos]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

Just plain idiotic.

Why is that? Your right wing inflation scare tactics are nothing but Hoax.

 

[danielpalos]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

Prices aren't the same everywhere. Why are Democrats pushing for a national minimum wage? Should an engineer in rural Mississippi should make the same as an engineer in Manhattan? Why not? The economy doesn't work that way chief.

There is a reason why some States are simply cheaper to live in. A first world local economy is usually not one of them.

 

[Ray From Cleveland]

Funny that everyone used to point to Canada as a shining example of government healthcare. But now suddenly they are realizing that there are extremely long wait times. Canada is moving towards individual healthcare and some Canadians are coming to the U.S. to have things taken care of.
Now why would we want a government that can not properly do anything to do healthcare? Why would we want to follow in Canada’s footsteps when they are coming over to our way.
if we could just get the government to allow insurances to sell the same policy across all states prices would drop. But when you have to have a different policy for one state but then have a completely different one for a state right next to it the cost has to go up. But yet we allow the government to have a hand in screwing up individual insurance.

So correct. Our northern hospitals are loaded with Canadians. My sister works at the Cleveland Clinic and they are all over that place.

There are many things we could do to lower our medical costs besides allowing nationwide insurance. One of the things we can do is have a loser pays all law like in some parts of Europe. Sue all you want, but if you lose the case, you have to pay all the expenses of the defendant.

Years ago your family doctor took care of everything. Today your family doctor is nothing but a referral service. If you had a problem with your ears, he took care of it for you. If you have diabetes, he treated it. If you're having a shoulder problem, he did an X-ray and recommended surgery or gave you a prescription. Today, no matter what ails you, they send you to a specialist, sometimes several specialists. So of course care costs so much more when you need to see several doctors instead of one. The reason they pawn you off to specialists are because of the liability they have to endure if something goes wrong.

Easy fix, right? Wrong. Many of our representatives were lawyers and they take care of their own. Trial lawyers contribute big bucks to the Democrat party at election time. So of course we will never see a loser pays all law in this country. They don't want to stop these frivolous lawsuits, and we all pay for them.

 

[danielpalos]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

I don’t know where you live but where most people live the cost of labor has been going up. In my area you can go to work at McDonalds for more then minimum wage.
Minimum wage of $15.00 an hour will not get you the same things as other areas.
I know that you are unable to comprehend this but why not allow states to set minimum wage since they understand their economy better then the federal government? Oh I know because then the federal government would not be in charge of everything in people’s lives

Then why complain about the less than five percent who work minimum wage jobs getting a higher statutory minimum wage that is a simple cost of living adjustment?

 

[Maxdeath]

The wealthy don't pay tax, they pay off politicians for favorable tax breaks.
Some skim off the massive piles of wealth they set up their relatives for while in office.
The government is generally a corrupt institution at all levels. Best to defund it and keep it weak.

The biggest reason for congress passing tax breaks is because they get to use them. Few are actually paid for by others.

 

[Ray From Cleveland]

"Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise."
-- Thomas Jefferson; from letter to James Madison (28 Oct. 1785)

That's what we have been doing all of my life.

 

[kaz]

The dems don’t understand economics or even math.
They think that the rich are somehow locked into staying in high tax areas. They think that their money can’t be moved into other countries.
They don’t realize that businesses can leave money overseas Instead of bringing it into the U.S. where it spends just as well there.
They don’t realize that businesses are not going to take a hit to the bottom line, they will just pass that hit onto higher prices for the consumer.

Raise the minimum wage to raise more tax revenue.

Raise minimum wage to increase prices for goods. Then minimum wage purchases the exact same amount of goods or services.
so it ends up as a wash other then it looks good.

No, it doesn't. Some studies show less than five percent increase in prices. Simply beating the rate of inflation means greater purchasing power for Labor and their propensity to consume. The doubling of the minimum wage will not result in a doubling of prices for anything.

So you're going to increase labor costs by 100% but claim that prices will only go up 5%? You're not the brightest bulb on the tree...are you, Daniel?

Due to minimum wage increases. Other wages could raise it more, but the pay increases need merely beat inflation. Who cares if prices go up if we can afford it with the higher wage. And, a fifteen dollar an hour minimum wage also generates several times more in federal income tax revenue.

How does this work, Daniel? The profit margin of your typical brick and mortar store is less than 5%. Their largest expense will typically be payroll which you're now increasing by 100%. So where do you make up the difference?

Prices won't double even if the minimum wage does. The multiplier effect does the rest.

I asked a rather simple question, Daniel...which you've failed to answer. How do you raise labor costs 100% in a business that only has a 5% profit margin and NOT raise the price of goods and services provided by that business?

It is about the minimum wage and minimum wage labor. What percentage of any workforce makes the minimum wage?

Answer the question, Daniel. If you can't...then admit you have no clue what you're talking about...tuck tail and find another string!

You are the one begging the question. You have nothing but Hoax not any understanding of economics.

So your "answer" to a very simple question...is that I have "Hoax"? If you can't answer something that basic, Daniel then it's obvious your minimum wage ideas fall flat on their face.

I took Economics classes at UMass, Amherst College and Boston University. What is your background on the subject?

I'd give it up. You'll never get anything but empty rhetoric from Danny Boy

 

[Maxdeath]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

I don’t know where you live but where most people live the cost of labor has been going up. In my area you can go to work at McDonalds for more then minimum wage.
Minimum wage of $15.00 an hour will not get you the same things as other areas.
I know that you are unable to comprehend this but why not allow states to set minimum wage since they understand their economy better then the federal government? Oh I know because then the federal government would not be in charge of everything in people’s lives

Then why complain about the less than five percent who work minimum wage jobs getting a higher statutory minimum wage that is a simple cost of living adjustment?

You mean other then the fact that first of all I don’t want the government telling everyone when and when not to sneeze?
Because I understand how business works how economics works. It works best when the market works not when the government artificially makes it work.
if you want something screwed up get the government involved.

 

[22lcidw]

"Above all things, good policy is to be used that the treasure and monies in a state be not gathered into few hands. For otherwise a state may have a great stock, and yet starve. And money is like muck, not good except it be spread"
-- Francis Bacon; from 'Of Seditions and Troubles'

Raise the minimum wage to raise more tax revenue.

You just don’t get it. Raise minimum wage prices go up. So the only thing you are doing is making the poor slob have less money in their pocket because of taxes. So I guess you want people to either stop working or have less money to spend

Prices have been going up anyway; only the minimum wage was not being raised on a regular basis to keep up with inflation.

It is not that simple. More and more people get checks and benefits from the government. Which is from the taxpayer. Now they use the checks in the system. But it doesn't have the bite a manufacturing job would. Service jobs have more bite to the economy then government checks, but less then manufacturing. there are other types of jobs and small business situations also. All bringing more bite then the government check to the economy. This is compassion but takes away from real growth. If we treated our nation like a whole world by itself as we used to, we would have a stronger foundation but may pay more for products.

 

[jbrownson0831]

The Democrat plans to tax the rich are futile and ignorant. They sound good to the uneducated, but they don't work very well. When you raise tax rates or reduce deductions on the rich, their typical response is to divert more of their money into tax shelters where they pay less tax. They can afford tax lawyers and CPAs who find ways to reduce their taxes dramatically and it's all legal.

Donald Trump knows how. For several years at a time, he paid no income tax. I don't know all the shelters he used but I can guess. One would be accelerated depreciation on the buildings and furniture he owns. Another would be Net Loss Carryover. When you have a loss in one year, the IRS Code allows you to deduct that loss on the returns for following years. If the NLC is large enough, it can give you zero tax liability for 5 or 6 years. Even people of moderate income can use tax shelters. I have 2 of them.

If you don't try and target the rich, they will pay a fair share of taxes just like everybody else. If you target them with high tax rates, they run for tax shelters.

We will all be taxed into submisssion by Sleepy and then lose our jobs when he shuts down the country for the leftyflu