What is the optimum tax rate on the wealthy?

[RewriteQuran]

Globalization is Zero sum.
Unless USA aligns Immigrant & Non-immigrant Visas and Outsourcing to Caste system in India and Human Rights in China, American middle class will be destroyed.
I endorse 70% tax rate on the wealthy.

 

[intradaybill]

Quote from RewriteQuran:

Globalization is Zero sum.

Wrong. It is negative sum. Commissions go to Swiss bank accounts.

Quote from RewriteQuran:

I endorse 70% tax rate on the wealthy.

I guess no poor guy would offer you a job right?

I then propose 0% tax rate for wealthy people just for employing others and feeding their babies.

The more wealthy people a country has that are taxed at a 0% rate, the more taxes it receives from wealthy people spending their money buying homes, good, etc.

But so many people are so stupid, so arrogant, so envious to understand that.

They deserve communism. They deserve to be told where to work, what to buy and what to do in their spare time.

 

[Humpy]

Nothing much changes

The elite will let the masses have enough to keep them alive enough to do the work and grab the rest !

The poor will never be satisfied. They know they are being ripped off but won't have enough momentum until the elite denies them beyond a certain amount. Then there is revolution.

 

[RewriteQuran]

Quote from intradaybill:

Wrong. It is negative sum. Commissions go to Swiss bank accounts.



I guess no poor guy would offer you a job right?

I then propose 0% tax rate for wealthy people just for employing others and feeding their babies.

The more wealthy people a country has that are taxed at a 0% rate, the more taxes it receives from wealthy people spending their money buying homes, good, etc.

But so many people are so stupid, so arrogant, so envious to understand that.

They deserve communism. They deserve to be told where to work, what to buy and what to do in their spare time.

I guess you are living in a cave.
USA had 94% tax rate in 1944.
http://en.wikipedia.org/wiki/Income_tax_in_the_United_States#History_of_top_rates

 

[uptickk]

Quote from RewriteQuran:

I guess you are living in a cave.
USA had 94% tax rate in 1944.
http://en.wikipedia.org/wiki/Income_tax_in_the_United_States#History_of_top_rates

Reread MKTrader's post above to see that it really wasnt a 94% rate after all the breaks / loopholes.

 

[Humpy]

80% over $10m
70% $1m to $9.999m

Worth over $10m - PLUS a wealth tax of 50% a year.

 

[GordonTheGekko]

LOL @ the liberal socialists who voted 70%!!!! :

 

[MKTrader]

Quote from Free Thinker:

"Should be identical to the tax rate on everyone else."
the graduated income tax does exactly this. everyone pays the same tax at the bracket. a person making a million pays the same rate on the first 25k as a person making 50k.

Are people this stupid/gullible/Orwellian? A graduated tax means your rate increases along with your income. In other words, you get taxed (punished) more as your income rises. It's a disincentive for the productive/innovative/achieving class. But of course the parasites love it.

It clearly doesn't mean the wealthy's tax rate "Should be identical to the tax rate on everyone else."

 

[MKTrader]

Quote from uptickk:

Reread MKTrader's post above to see that it really wasnt a 94% rate after all the breaks / loopholes.

Yeah, let's hope the guy doesn't try to rewrite the Qu'ran by himself. He won't even bother to read and digest a 5-paragraph post!

 

[Scataphagos]

Quote from MKTrader:

Are people this stupid/gullible/Orwellian? In other words, you get taxed (punished) more as your income rises. It's a disincentive for the productive/innovative/achieving class. But of course the parasites love it.

That's because... (1) The Parasite Class is now the largest and gets to vote themselves greater benefits at the expense of others, and (2) Those who pay the tax have virtually no voice in the process... not including those who get "special" tax treatment thanks to political contributions/lobbying, of course.