Should The Rich Be Required To Pay Higher Taxes In the US?

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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby fstarcstar » Wed Aug 19, 2015 3:50 pm

Ya know, we need to start getting more creative with the way we raise funds. We all know the richest americans have more money than basically the entire planet combined. The issue we keep fighting is to raise/lower taxes, but they either avoid taxes, make interest on their investments of billions or have other ways of avoiding taxes altogether. It's just the name of the game for the wealthy.

Lets start brainstorming new ways to raise funds for the government. I get that there are municipal bonds, T bonds, savings bonds, etc. But what if we started offering bonds or other financial incentives for specific programs in the United States. For example, a higher education bond. The rich could buy into higher education bonds, collect interest/principal and we could turn around use the funds we raise to help finance schools for higher education. Doesn't have to be exactly like that, but we need to start becoming more creative in how we plan to make money off the rich. Taxing more or at any rate above 30% will never happen in our lifetime, and the raising of capital gains can hurt retirees or other younger investors, so that generally dies off too.

Raising the SS/Medicaid cap limit won't ever happen, national sales tax or VAT might be possible, but Americans will balk at it. Regardless, with the way we create new taxes, even the AMT tax was meant to be at the rich, and now it hits upper middle class and middle class people.

No matter what, the average American loses. Either hang the rich, attempt to tax the rich or try to work with them for an equal financial benefit, its up to us.
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby a777pilot » Wed Aug 19, 2015 7:19 pm

I opine that a tax system based on the use or spending of money be considered. To be honest, this is not my idea, but a proposal suggested by a liberal black congressman from Pennsylvania. I believe it bears further study.
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby Kane » Wed Aug 19, 2015 7:56 pm

eynon81 wrote:all income over 1,000,000 should be taxed at 90% until the debt is under-control. Like after WW2.


What is it about the debt that makes you think it's not under control?
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby Kane » Wed Aug 19, 2015 8:00 pm

John Galt wrote:VAT is a money making machine, and for that reason i am troubled supporting it (we should starve the beast) however, if e could phase out income taxes for all money under $100,000 while having a resaonable VAT (I've read about 12.5% would cover this) it would address issues of non-reporting, except for black market purchases. remove the drug war and that's most of the black market aside from like, stolen art, which is going to exist with or without VAT. and somewhere along the line that theif is going to buy a cheeseburger from mcdonalds and be hit with VAT anyway, whereas with income taxes that income is never reported

for those making over 100K, rates of today would be alright (remember, they also are paying the VAT), and capital gains should apply the same as any income

i think a lot of the problem with the tax system, regardles sif income tax stays (which it will) or a vat implemented (which it won't be) is that it's way too complex. winchester shouldn't be employed. yeah, maybe some person making a million or more needs a damn accountant to figure everything out for tax purposes, but no one under than should. it should be simple forms to understand


Because when everything is simpler it's easier?

Your points notwithstanding, why should it be simple forms to understand?
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby a777pilot » Wed Aug 19, 2015 11:39 pm

The debt is under control? Really? I guess you also believe that the Titanic was under control too.

We have over 18 trillion reasons to believe our nation's debt is out of control.
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby The Comrade » Wed Aug 19, 2015 11:49 pm

debt is useful for modern monetary policy
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby Saz » Thu Aug 20, 2015 1:30 am

Oh god I agree with Kane. That's when you know you are wrong galt.
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Re: Should The Rich Be Required To Pay Higher Taxes In the U

Postby Kane » Thu Aug 20, 2015 1:59 am

a777pilot wrote:The debt is under control? Really? I guess you also believe that the Titanic was under control too.

We have over 18 trillion reasons to believe our nation's debt is out of control.


We have routinely been in debt since this country's inception. We have only ever paid off all our debts once...in 1835 under Jackson. And while not the cause...it didn't exactly lead to heaven either. Being debt free is not a panacea. Our debt level isn't that bad and our ability let alone our willingness to pay it back is without doubt. What's the yield on 30 year US treasuries?
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