Mirror mirror on the wall, whose the fairest tax of them all?

I used to rent apartments to working- and lower-class tenants. i knew what their finances were like. These people were absolutely horrible with money. they couldn't keep a job yet overspent, and when they can't pay their bills and are about to be evicted or lose their car, they blame misfortune (job loss) for their woes. Einstein, when you bounce around from job to $10/hr job, you shouldn't be buying a new pickup truck. Stupid idiots.

Oh, they pay no federal income taxes
 
Quote from logic_man:

That's a terrible analysis. How could it be a carrot for something that didn't exist prior to America? You've put the cart before the horse.

The Statue of Liberty doesn't say "Give me your middle class, who were already pretty comfortable in Europe and other places, but might want to get a little extra here that they can't get over there."

Read a book. America didn't magically spring into existence in the post-WWII era. It was the result of the cultivation of a certain type of existence, predominated by economic freedom and the availability of opportunity. Yeah, it wasn't perfect, but nothing is.
More...

Fair enough. The people who moved here came for a better life. Religious freedom, lower cost of living, and a supposedly classless society were big incentives for what was a big step for many. Europe was much more class controlled and socialist even back then. I agree freedom and a change beckoned many as well. At least that is what I have read. This myth started back in the 1800s I thought. Which book would you recommend I read to correct my opinion?

The reason I call it a myth, is that the ability for people to truthfully move class barriers proved to be a lot less effective than the old work hard, get a good job, and save your money proposal. Here money ruled class struggles, where in Europe lineage ruled because of a very long history. One can't change birth lineage, but almost anyone can work hard and get a good education or skill. It was appealing to the youth I think.

Times are changing now.
 
Quote from StarDust9182:

Perhaps he read it in the first thread I initiated where I wrote that it was ALWAYS a myth used as a carrot for the middle class. Both Crony Capitalism and Socialism are failing, what's the next big lie?
More...

Fixed it for you. The only capitalism we've had for decades has been the crony kind, mixed with lemon socialism.
 
Quote from oldtime:

well, we've never tried socialism financed by free market capitalism, that might work
More...

Been there, done that. You must have missed a few decades in the last century?

Robert Green has some thoughts on how traders are affected by the latest tax, er, "penalty that's not a tax and is a tax" according to the SCOTUS:

There's a bombshell for our trader clients, too. For the first time in many decades, as part of the Affordable Care Act, Congress was able to break through the Chinese Wall to subject investment and passive income to this otherwise earned-income-related Medicare tax. That's bad news for our profitable trader and investor clients.

Like other tax hikes President Obama supports, this tax hike applies to higher-income folks. First, calculate adjusted gross income in excess of $200,000 (single) or $250,000 (married filing joint). Next, determine your total income from interest, dividends, capital gains, rents and passive income. The Medicare Surtax will apply to the lessor of these two calculations.

2013 is shaping up to be a year of great tax change and related uncertainty and disarray. In addition to these health-care taxes, the other big bombshell - the Bush-era tax cuts - is scheduled to expire at year end 2012. The estate tax is scheduled to come back with a vengeance, too.

A concern for the real traders/high income folks on this site, but not the parasites posing as traders.
 
Quote from MKTrader:

Been there, done that. You must have missed a few decades in the last century?

Robert Green has some thoughts on how traders are affected by the latest tax, er, "penalty that's not a tax and is a tax" according to the SCOTUS:

There's a bombshell for our trader clients, too. For the first time in many decades, as part of the Affordable Care Act, Congress was able to break through the Chinese Wall to subject investment and passive income to this otherwise earned-income-related Medicare tax. That's bad news for our profitable trader and investor clients.

Like other tax hikes President Obama supports, this tax hike applies to higher-income folks. First, calculate adjusted gross income in excess of $200,000 (single) or $250,000 (married filing joint). Next, determine your total income from interest, dividends, capital gains, rents and passive income. The Medicare Surtax will apply to the lessor of these two calculations.

2013 is shaping up to be a year of great tax change and related uncertainty and disarray. In addition to these health-care taxes, the other big bombshell - the Bush-era tax cuts - is scheduled to expire at year end 2012. The estate tax is scheduled to come back with a vengeance, too.

A concern for the real traders/high income folks on this site, but not the parasites posing as traders.
More...
I'm profitable, but not anywhere near 200k a year profitable.

otherwise, If we eliminated corporate taxes,that would eliminate a lot of crony capitalism. The revenue might have to be made up by treating cap gains and dividends as ordinary income.
 
Quote from MKTrader:

Fixed it for you. The only capitalism we've had for decades has been the crony kind, mixed with lemon socialism.
More...

Yes that is a good fix. Both seemed to work for a while. It's not clear what changed exactly, but you have a good point.
 
Quote from logic_man:

America didn't magically spring into existence in the post-WWII era. It was the result of the cultivation of a certain type of existence, predominated by economic freedom and the availability of opportunity. Yeah, it wasn't perfect, but nothing is.
More...

Perhaps being 3500 miles West of the English Channel helped as well.
 
Quote from logic_man:

What's the risk her paycheck bounces vs. Buffett losing his shirt on an investment like BAC?

The rates reflect the relative risk of the cash flows, not to mention that one rate is being paid on money that hasn't been taxed and the second rate is on money that's already been taxed once.

Just as an aside, do you find your own argument convincing? Because if you do, you must have an IQ below 80.
More...

there is something to say for an inverted tax system. It would be a good experiment, we simply dont know right now if that could work or not. Buffet should pay 35% and the secretary 17%. However the scoialist government will never go for that. Invesment taxes are theoretically more volatile thus a budget dependent on that is less desirable to the socialist government who wants stable taxes to spend money.
 
Quote from oldtime:

well, we've never tried socialism financed by free market capitalism, that might work
More...

But you did try socialism for the past 40 years, there were only socialist presidents. starting with Reagan, Bush senior, Clinton, Bush, Obama. ALL SOCIALISTS:mad:
socialism has destroyed the USA.
 
You must log in or register to reply here.
Back
Top