June Presidential Debate

[Buy1Sell2]

I think a better thing to do is to have what I would consider to be "high on the hog" taxes. Purchases of over a certain amount should be highly taxed. Property over a certain value should be highly taxed. It should vary by what you're purchasing. Obviously, buying a $20,000 car is different than a Rolex. I don't think it matters that much if a billionaire has paper wealth. It's what amount of resources (labor, raw materials) plus any externalities such as environmental impact any individual is using. Obviously some high expenses use more resources than others (like a yacht versus front row seats to an event-somebody needs to sit in the front row and it doesn't use any extra labor, it's essentially just a transfer of wealth from one rich person to another). As a society we should find ways to increase the number of essentials on the market (food, shelter, energy, healthcare) so that the middle class can really start enjoying the benefits of increased productivity.

Progressive tax rates are anti-growth. You are very misinformed and misguided.

 

[newwurldmn]

Progressive tax rates are anti-growth. You are very misinformed and misguided.

Buy1sell2 is right.

poor should pay the most taxes. Government should take that money and give it to the rich who will spend the money and it will trickle down to the poor.

 

[gwb-trading]

Buy1sell2 is right.

poor should pay the most taxes. Government should take that money and give it to the rich who will spend the money and it will trickle down to the poor.

Isn't that exactly what we do now.

I will note that the effective tax rate of the top 1% including the billionaires is much lower than the effective tax rate of most of middle class America. Many -- like Trump -- pay zero income taxes in many years thanks to all the tax breaks and tax shelters utilized by the rich.

 

[newwurldmn]

Isn't that exactly what we do now.

I will note that the effective tax rate of the top 1% including the billionaires is much lower than the effective tax rate of most of middle class America. Many -- like Trump -- pay zero income taxes in many years thanks to all the tax breaks and tax shelters utilized by the rich.

and things have never been better. No wait. They are terrible and only trump can fix it.

 

[kmgilroy89]

Progressive tax rates are anti-growth. You are very misinformed and misguided.

Progressive tax rates on income are very different than progressive tax rates on real property/goods. My idea benefits those who make money, it hurts them when they spend that money. My goal is to maximize the goods/services produced for the majority. Hence my taxes would only target consumers, not producers. Think about the raw material resources and labor resources it takes to build somebody a massive yacht. I would prefer to incentivize that allocation of materials/labor towards a broader amount of people.

 

[Buy1Sell2]

Progressive tax rates on income are very different than progressive tax rates on real property/goods. My idea benefits those who make money, it hurts them when they spend that money. My goal is to maximize the goods/services produced for the majority. Hence my taxes would only target consumers, not producers. Think about the raw material resources and labor resources it takes to build somebody a massive yacht. I would prefer to incentivize that allocation of materials/labor towards a broader amount of people.

The ideas you are espousing are Marxist/Socialist in nature and cannot be allowed to be implemented.

 

[kmgilroy89]

The ideas you are espousing are Marxist/Socialist in nature and cannot be allowed to be implemented.

If my ideas were truly Marxist there would be no need for taxation. My ideas actually simplify taxes and promote business creation.