This is why we need to tax the wealthy

[beagle9]

I've not argued that. You have.

At a loss now eh ??

 

[j-mac]

A small amount. Tom Brady got nearly a million dollars. Why shouldn't those who benefitted the most, pay the most in taxes to cover that debt?

Tom Bradyâs company TB12 received more than $960,000 PPP loan

So, you're jealous that you're not successful...Got it...

 

[pknopp]

So, you're jealous that you're not successful...Got it...

I retired at 58. It's not all about me.

 

[Crepitus]

You tax 5 million in Capital Gains one year but then they lose 3 million of that the next year.

And they get a tax credit for next year.

The people being referred to here aren't even gonna feel a 5 million dollar loss.

 

[Crepitus]

It is entertaining to read ideas from people who think the goobermint can out-smart Billionaires. Because people who use their wits to survive have always been out-smarted by those too stupid to get a job in the Private Sector.

Most billionaires are old family money and haven't got the common sense of a lemming.

I literally laughed out loud when I read your post. It's one of the funniest thigs I've seen here in a while.

 

[j-mac]

I retired at 58. It's not all about me.

Could of fooled me.....

 

[pknopp]

And they get a tax credit for next year.

The people being referred to here aren't even gonna feel a 5 million dollar loss.

True but I still believe the best option is a simple one page return. Politicians will devise all sorts of credits to cover for any increases.

 

[pknopp]

Could of fooled me.....

Obviously that isn't a high bar.

 

[j-mac]

Obviously that isn't a high bar.

Opinions....Who cares...?

 

[Crepitus]

True but I still believe the best option is a simple one page return. Politicians will devise all sorts of credits to cover for any increases.

I'm all about simplifying the tax return. Nobody should have to pay someone else to do their paperwork. (costs me well over $1000 to get mine done every year) I'm also all about eliminating tax shelters for people who don't really need them.

 

[Ghost of a Rider]

Good post... I agree.... The only add is that I'm not for our elite becoming so greedy that they begin to disrespect the workers in a bid to gain more for themselves to the point of creating a huge gap between earners and managers/owner's in an unhealthy mismanaged way...

I don't care for that either. But the question then becomes: How much should the government impose itself on the way private businesses do business within the law?

There was always a balance to keep that paid off for everyone involved, especially in a meritocracy. People were very duped when it came to slaving slaves upon the plantations, and so much so that they can't except the fact that slavery was partly the reason for the civil war.

To this very day people attempt to deny the part of the war concerning slavery, and it's all because it hurts them when they come close to mimicking it again all due to their greed.

I don't think it'll come to that. But even if it approximates something like this, employees can always strike.

Changes always come about naturally when the balance tips too much one way or the other, which it will do eventually. That's the way the world works. Beyond that, I'm not on board with the government stepping in to regulate business any more than they already are. All that would do is open the door to more and more regulation to the point that doing business is barely profitable anymore. When that happens, they will take their business elsewhere and many already have.

 

[Ghost of a Rider]

Only for some.

Federal court approves $25 million Trump University settlement

Donald Trump fined $2m for misusing charity for political ends

Trump Organization fined $1.6 million for tax fraud

Not sure what this has to do with Trump or even what it has to do with law-abiding companies.

 

[pknopp]

Not sure what this has to do with Trump or even what it has to do with law-abiding companies.

You understand why I posted it.

 

[my2¢]

This would lead to an even more complicated tax structure. You tax 5 million in Capital Gains one year but then they lose 3 million of that the next year.

No, we need a one page tax form.

I agree with a one-page tax form, but its 75,000 pages tax code and regulations are the basis of the problem. I would suggest getting rid of the capital gains and inheritance taxes and have a tax law which simply treats a buck as a buck. No need to treat gains by individuals any differently based on where they came from. Treat all these gains the same under a single uniform tax rate.

 

[Billy000]

It is entertaining to read ideas from people who think the goobermint can out-smart Billionaires. Because people who use their wits to survive have always been out-smarted by those too stupid to get a job in the Private Sector.

lol it is so comical how you morons just assume progressives are unemployed. I get that it makes you feel tough and superior, but you’re just deluding yourselves. The unemployment rate is, what, 3.7%? Obviously most adults including myself have jobs you idiot lol. You aren’t special just because you have a job. Sorry to break it to you.

 

[pknopp]

I agree with a one-page tax form, but its 75,000 pages tax code and regulations are the basis of the problem. I would suggest getting rid of the capital gains and inheritance taxes and have a tax law which simply treats a buck as a buck. No need to treat gains by individuals any differently based on where they came from. Treat all these gains the same under a single uniform tax rate.

I agree that a dollar earned is a dollar earned. Period.

 

[ThisIsMe]

How about we just return to the tax rates before Bush?

Didn’t Obama make the bush tax cuts permanent?

Why is it that some of you are so stuck on MORE taxation, instead of reducing budgets? Again, why can’t you see that raising taxes and on the rich will do nothing at all.

Let’s say the left gets their wealth tax, and it increases government revenue by 400 billion a year. Government will just pour that money into a project, and it will be gone, and we’ll be no better off than before. Now what? We’re back at square one…who are you going to increase taxes on next?

 

[ThisIsMe]

The Government is….We the People
They provide the services We the People demand

If they don’t……We vote them out

The government provides the services the COTUS demands, the states provide the services that “we the people” demand.

The reason you should vote them out is because they are not adhering to the cotus.

The federal government was never designed to provide all of these other services for people, because no two people can agree on if the government SHOULD provide a services.

 

[pknopp]

Didn’t Obama make the bush tax cuts permanent?

Why is it that some of you are so stuck on MORE taxation, instead of reducing budgets? Again, why can’t you see that raising taxes and on the rich will do nothing at all.

Seems to me that most are saying we need to do both.

Let’s say the left gets their wealth tax, and it increases government revenue by 400 billion a year. Government will just pour that money into a project, and it will be gone, and we’ll be no better off than before. Now what? We’re back at square one…who are you going to increase taxes on next?

No one is arguing for that.

 

[jotathought]

Uh no clearly I said nothing like this so it’s completely stupid

"How are you going to incentivize a guy with the IQ of 50 to get a job?" -- Billy000

Cheers!