Page 1 of 2 12 LastLast
Results 1 to 30 of 32

Thread: Taxing the Rich Will Not Solve the Problem

  1. #1
    Account Restricted. Admin to review account standing


    Posts
    878
    Join Date
    Sep 2018

    Taxing the Rich Will Not Solve the Problem

    I have recently read a number of articles stating the solution to the economic crisis is merely to tax the rich. However, I doubt it is that simple and it may in fact create more problems than it solves. I provide my justification below, by explaining the use of the money held by the “rich” and how this benefits the rest of the economy.

    So what about:The money they have in the bank?

    https://www.huffingtonpost.com



  2. Remove this section of ads by registering.
  3. #2
    TAX
    THE
    BANKS!

    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  4. #3
    You could tax the rich at 100% and it wouldn't make a difference.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  5. #4
    The only thing I keep in the bank is my emergency fund . If they are going to tax it I would move it .
    Do something Danke

  6. #5
    Taxing the poor doesn't raise much money.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  7. #6
    Quote Originally Posted by Zippyjuan View Post
    Taxing the poor doesn't raise much money.
    No. But taxing the middle and upper middle class does. The mathematical reality is all those high tax countries progressives love tax the middle class at a much higher rate.

    Denmark starts a 60% tax rate at 60k in income. All the "civilized" countries like Canada, UK, and Australia have an effective tax rate on the top 1% barely higher than what they pay in the US. The difference is they start the high rates at much lower incomes. That is the inconvenient truth that Trump should hammer home.

  8. #7
    Higher incomes also are able to take advantage of more tax breaks than middle or lower income tax payers- lowering their actual tax rates. The top marginal tax rate for 2018 was 37 percent but with deductions, etc, the highest income bracket averaged 27%.

    European countries also have a Value Added Tax in addition to income taxes- in many countries the rate on that is the EU allowed maximum of 25%. (Denmark was perhaps conveniently chosen because they have the highest tax rates).





    https://taxfoundation.org/summary-la...a-2018-update/
    Last edited by Zippyjuan; 04-18-2019 at 07:18 PM.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  9. #8
    Quote Originally Posted by Zippyjuan View Post
    Taxing the poor doesn't raise much money.
    "Raise money"... lol



  10. Remove this section of ads by registering.
  11. #9
    Account Restricted. Admin to review account standing


    Posts
    878
    Join Date
    Sep 2018
    Now Microsoft is valued at $1,000,000,000,000 on the stock markets. Where is the money ??

  12. #10
    We need a flat tax so everyone can see and understand how much they pay.

    Business pays [Excise Tax (at Mfg point of sale)]
    Individuals pay [Sales Tax, set at 1/2 the rate of excise tax]

    ALL other taxes, credits and deductions are abolished.

    [Excise Tax] + [Sales Tax (at half rate of excise tax)] = [Government expenditures]
    Quote Originally Posted by UWDude View Post
    It is a deconstructionist society. In an age of overload of information, truth of words has become irrelevant. Truth of meaning is all that is left.
    Quote Originally Posted by UWDude View Post
    You can't even handle freedom in the fake world.
    2 + 2 = 5.

  13. #11
    A 75% sales tax should about cover it. Unless that tax causes people to buy less (it would).
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    "There is always a tweet. That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view." -CNN

    I am Zippy and I approve of this post. But you don't have to.

  14. #12
    Quote Originally Posted by Zippyjuan View Post
    A 75% sales tax should about cover it. Unless that tax causes people to buy less (it would).
    The best tax would be a simple, automatic transaction tax, but Wall Street and CBOE won't allow it.

    Ultimately, all tax except excise and use taxes should be abolished. The government can spend more by directly increasing
    the money supply when necessary. What we have now is 20 Trillion in debt, because there is no sovereign currency, we have money supply
    that went astronomic, and we have all these taxes all together. The worst of all possible financial worlds.

    Someday, a more mature humanity will learn to de-monetize. We monetize every single thing that happens and exists,
    it it way too much, the monetization has to be held in check. Answers are in the past but nobody considers them anymore.
    Last edited by Snowball; 06-16-2019 at 09:50 AM.

  15. #13
    Quote Originally Posted by A Son of Liberty View Post
    "Raise money"... lol
    "The Patriarch"

    Quote Originally Posted by RJB View Post
    Now a days the future freedoms of ones posterity is less important than the freedom today to insert what one wants into ones posterior.
    Quote Originally Posted by Swordsmyth View Post
    That is a lie.
    @Brian4Liberty, devil keeps spreading this lie.
    Quote Originally Posted by Swordsmyth View Post
    I will report violations of the forum rules to the forum staff when they are egregious enough.

    You should remember that.

  16. #14
    Quote Originally Posted by Snowball View Post
    The best tax would be a simple, automatic transaction tax, but Wall Street and CBOE won't allow it.

    Ultimately, all tax except excise and use taxes should be abolished. The government can spend more by directly increasing
    the money supply when necessary. What we have now is 20 Trillion in debt, because there is no sovereign currency, we have money supply
    that went astronomic, and we have all these taxes all together. The worst of all possible financial worlds.

    Someday, a more mature humanity will learn to de-monetize. We monetize every single thing that happens and exists,
    it it way too much, the monetization has to be held in check. Answers are in the past but nobody considers them anymore.
    Allowing the government to print money taxes value from every dollar that exists and because it is so easy to do it always gets out of control.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  17. #15
    Quote Originally Posted by Swordsmyth View Post
    Allowing the government to print money taxes value from every dollar that exists and because it is so easy to do it always gets out of control.
    Nonetheless, that is an express duty of Congress in the Constitution, so people would have a say in the matter,
    unlike the system we have to endure today.

  18. #16
    Quote Originally Posted by Snowball View Post
    Nonetheless, that is an express duty of Congress in the Constitution, so people would have a say in the matter,
    unlike the system we have to endure today.
    I do not recall seeing printing money or printed money in the Constitution.
    Do something Danke



  19. Remove this section of ads by registering.
  20. #17
    Quote Originally Posted by Zippyjuan View Post
    A 75% sales tax should about cover it. Unless that tax causes people to buy less (it would).
    I would buy about 68 percent less , or more .
    Do something Danke

  21. #18
    Quote Originally Posted by Snowball View Post
    The best tax would be a simple, automatic transaction tax, but Wall Street and CBOE won't allow it.

    Ultimately, all tax except excise and use taxes should be abolished. The government can spend more by directly increasing
    the money supply when necessary. What we have now is 20 Trillion in debt, because there is no sovereign currency, we have money supply
    that went astronomic, and we have all these taxes all together. The worst of all possible financial worlds.

    Someday, a more mature humanity will learn to de-monetize. We monetize every single thing that happens and exists,
    it it way too much, the monetization has to be held in check. Answers are in the past but nobody considers them anymore.

    I have no idea what you just said or what you are proposing. I am not sure what Wall Street or the CBOE has to do with anything. Are you proposing just a tax on financial trades, in which case that is brain-dead. Or is this a sales tax? And what do you mean monetize? I get the definition of monetize, but what are you saying is bad? Are you saying offering a service and earning a profit is bad? And will that make humanity more mature? And we do have a sovereign currency. It is called the dollar. And where in the past are the answers? Is it Jesus? Does Jesus have the answers to all the world's problems?

  22. #19
    Quote Originally Posted by Snowball View Post
    Nonetheless, that is an express duty of Congress in the Constitution, so people would have a say in the matter,
    unlike the system we have to endure today.
    Congress is empowered to "Coin Money" NOT to print currency.

    They can turn all the gold they get their hands on into coins and I won't complain.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  23. #20
    Quote Originally Posted by Krugminator2 View Post
    Does Jesus have the answers to all the world's problems?
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankindÖitís people I canít stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  24. #21
    Quote Originally Posted by Krugminator2 View Post
    I have no idea what you just said or what you are proposing. I am not sure what Wall Street or the CBOE has to do with anything. Are you proposing just a tax on financial trades, in which case that is brain-dead. Or is this a sales tax? And what do you mean monetize? I get the definition of monetize, but what are you saying is bad? Are you saying offering a service and earning a profit is bad? And will that make humanity more mature? And we do have a sovereign currency. It is called the dollar. And where in the past are the answers? Is it Jesus? Does Jesus have the answers to all the world's problems?
    There are no "dollars", only Federal Reserve Notes. That's why JFK issued "United States Notes" as an alternative.
    The fact that we refer to FRN's as dollars does not make them actual dollars. We are forced to use and accept this
    totally unconstitutional debt as our currency due to congressional and presidential negligence.

    Concerning the transaction tax variants, you can look them up. It is a preferable alternative to income, sales, and ownership, inventory, etc.

    Just tax the transactions at different rates. No IRS, No theft of labor.

  25. #22
    Quote Originally Posted by Snowball View Post
    Just tax the transactions at different rates. No IRS, No theft of labor.
    If person A voluntarily makes some transaction with person B, and the government requires that they involuntarily include in in that transaction and provide it with some portion of the amount exchanged or else they will suffer some penalty that it will impose on them backed up with threats of violence, then yes, that's a theft of their labor.

    And whether the enforcement agency of that theft be called the IRS or some other name is irrelevant.

  26. #23
    Quote Originally Posted by Snowball View Post
    The best tax would be a simple, automatic transaction tax, but Wall Street and CBOE won't allow it. tip jar
    Fixed.

    Quote Originally Posted by Snowball View Post
    Ultimately, all tax except excise and use taxes should be abolished.
    Fixed.

    Quote Originally Posted by Snowball View Post
    The government can spend more by directly increasing
    the money supply when necessary.
    That would be a tax.

    Quote Originally Posted by Snowball View Post
    Someday, a more mature humanity will learn to de-monetize. We monetize every single thing that happens and exists,
    it it way too much, the monetization has to be held in check.
    Terrible idea. But if you really want to pursue it, don't wait for the rest of humanity to do it. Just do it and let us know how that works out for you.

  27. #24
    Quote Originally Posted by Superfluous Man View Post
    If person A voluntarily makes some transaction with person B, and the government requires that they involuntarily include in in that transaction and provide it with some portion of the amount exchanged or else they will suffer some penalty that it will impose on them backed up with threats of violence, then yes, that's a theft of their labor.

    And whether the enforcement agency of that theft be called the IRS or some other name is irrelevant.
    Transaction tax is not a tax on labor. Is an excise tax a tax on labor?
    Employment wages are not part of the transaction tax.



  28. Remove this section of ads by registering.
  29. #25
    Quote Originally Posted by Superfluous Man View Post

    Terrible idea. But if you really want to pursue it, don't wait for the rest of humanity to do it. Just do it and let us know how that works out for you.
    I don't want taxes, I gave example of how they can be replaced with issuing money to pay for expenditures.
    De-monetization is not a pipe dream anymore than the pipe dreams expressed here are, such as people walking around
    with gold coins. Increasing the money supply is not a tax. To the extent sellers would seek to raise prices, that can be
    mitigated with legislation. I am a proponent of price-setting, not free market.

  30. #26
    Quote Originally Posted by Snowball View Post
    Transaction tax is not a tax on labor. Is an excise tax a tax on labor?
    Employment wages are not part of the transaction tax.
    You said, "theft of their labor." Every tax is a theft of someone's labor.

    If my labor provides me with money that I then use in a transaction, and that money is then taxed when I engage in that transaction, then the fruit of my labor is being stolen from me.

  31. #27
    Quote Originally Posted by Snowball View Post
    I don't want taxes, I gave example of how they can be replaced with issuing money to pay for expenditures.
    The example you gave was a tax.

    Quote Originally Posted by Snowball View Post
    De-monetization is not a pipe dream anymore than the pipe dreams expressed here are, such as people walking around
    with gold coins.
    I didn't say it was a pipe dream. I said it was a terrible idea. Using Gold as money isn't a pipe dream either. And like I said, since your proposal isn't a pipe dream, what are you waiting for? Just try it yourself and see how it works out for you.

    Quote Originally Posted by Snowball View Post
    Increasing the money supply is not a tax.
    Yes it is.

    Quote Originally Posted by Snowball View Post
    To the extent sellers would seek to raise prices, that can be
    mitigated with legislation.
    No it can't.

    You seem to think there's such a thing as genuinely free stuff that can be simply legislated into existence without anyone having to produce it. There isn't.

  32. #28
    Quote Originally Posted by Snowball View Post
    There are no "dollars", only Federal Reserve Notes. That's why JFK issued "United States Notes" as an alternative.
    The fact that we refer to FRN's as dollars does not make them actual dollars. We are forced to use and accept this
    totally unconstitutional debt as our currency due to congressional and presidential negligence.

    Concerning the transaction tax variants, you can look them up. It is a preferable alternative to income, sales, and ownership, inventory, etc.

    Just tax the transactions at different rates. No IRS, No theft of labor.
    I just googled transaction tax and the only variant I see is financial transaction tax, in which case that is about the most pernicious tax there is.

  33. #29
    Quote Originally Posted by Superfluous Man View Post
    Yes it is.
    Increasing the money supply is not a tax. If a dollar is originally equal to a unit of gold and the economy grows, then that dollar would buy more than a unit of gold so you have to increase the money supply to keep the dollar a constant value in gold.

    And that is what happens in practice. The inflation rate in golden era of the gold standard rom 1880 to 1914 was .1% (basically zero). At the same time the money supply grew dramatically because of productivity and population growth. "Compare the aforementioned average annual inflation rate of 0.1 percent between 1880 and 1914" https://www.econlib.org/library/Enc/GoldStandard.html

  34. #30
    Quote Originally Posted by Krugminator2 View Post
    Increasing the money supply is not a tax. If a dollar is originally equal to a unit of gold and the economy grows, then that dollar would buy more than a unit of gold so you have to increase the money supply to keep the dollar a constant value in gold.

    And that is what happens in practice. The inflation rate in golden era of the gold standard rom 1880 to 1914 was .1% (basically zero). At the same time the money supply grew dramatically because of productivity and population growth. "Compare the aforementioned average annual inflation rate of 0.1 percent between 1880 and 1914" https://www.econlib.org/library/Enc/GoldStandard.html
    Snowball's proposal was to use increasing the money supply as a source of revenue for the government.

Page 1 of 2 12 LastLast


Similar Threads

  1. Taxing the Rich Will Not Solve the Problem
    By Itsback in forum Political Philosophy & Government Policy
    Replies: 6
    Last Post: 01-22-2019, 05:41 PM
  2. Economic: Taxes: Taxing the Rich
    By SoldierBelow in forum Ron Paul: On the Issues
    Replies: 8
    Last Post: 12-13-2011, 11:02 AM
  3. Taxing the Rich? Help me out here
    By No Free Beer in forum Ron Paul Forum
    Replies: 7
    Last Post: 08-02-2011, 11:37 AM
  4. Salon Article on Taxing the Rich
    By Tinnuhana in forum Economy & Markets
    Replies: 0
    Last Post: 02-18-2011, 10:02 PM
  5. Taxing the rich? [MSNBC debate]
    By Matt Collins in forum U.S. Political News
    Replies: 57
    Last Post: 08-28-2010, 05:49 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •