that would have been very interesting, but I couldn't read it because I put anybody who doesn't agree with me on ignore. It aint easy being a free thinker. In the old days I had to use the power of my mind to ignore opposing points of view, now technology does it all for me. I predict (and you can quote me on this) someday computers are going to make all of our lives easier.
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What is the optimum tax rate on the wealthy?
- Thread starter nitro
- Start date
now there you go. that is how an informed mind works. not.Quote from oldtime:
that would have been very interesting, but I couldn't read it because I put anybody who doesn't agree with me on ignore. It aint easy being a free thinker. In the old days I had to use the power of my mind to ignore opposing points of view, now technology does it all for me. I predict (and you can quote me on this) someday computers are going to make all of our lives easier.
Quote from Free Thinker:
Quote from MKTrader:
Why is it "moral" to impose taxes only on "excess" income? I love how people say they don't want to "legislate morality" until it comes to their pet issues and preferences!
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i have that guy on ignore but since you quoted him i will answer the question.
everyone should be allowed a certain level of subsistance income before the government takes any away. it is immoral to take from people who cant feed their family.
Quote from oldtime:
if you are trying to make a point that i also have people on ignore its not because of differing viewpoints. if i have you on ignore its because you are profane,immature,cant make an argument, just attack the messenger,are stupid or are just a plain asshole. there has to be a minimum level of mental capacity before i waste my time but the bar is very low.
i never put people on ignore just because they disagree with me. i love a good debate.
that's why if I ever make any money trading I am going to quit talking to nincompoops and anti social mathmaticians on ET and devote all my time to the Tax and Spend Party. Our whole platform is built around taxing the rich. No matter what the problem, you can come to us and our solution is taxing the rich. We realize that once our base reaches 50% we will never grow, but it should be one hell of a ride until then.
It should be mandatory that everyone pays the same % of their income AND welfare payments in tax. That way, those who vote for (for example) a 50% tax rate, actually mean it and are not being totally hypocritical, because they are willing to pay 50% on their own income too. We will then see people setting a rate of tax only as high as they themselves are willing to pay.
If there are different tax rates, you get monstrosities like billionaires who are paying 15% capital gains on realised hedge fund income, then voting for administrations that tax self-employed small business owners at 50% on their marginal tax dollars. Or broke-ass welfare leeches or 15k burger flippers voting for 70% soak-the-rich tax rates. The unemployed, those on welfare, will have to support a tax rate that will cut into their own welfare payments by an identical percentage.
The only way to get a fair tax rate is for everyone to pay it. Equal treatment for all, and you only inflict on others what you are willing to pay yourself. Whether it ends up as 10%, 30%, 50% or 99%, at least it will be equally fair across all strata of society. My suspicion is that silly high marginal tax rates will become a thing of the past. Even the most socialist person generally will resent handing over more than about 35% of their income in taxes IMO.
If there are different tax rates, you get monstrosities like billionaires who are paying 15% capital gains on realised hedge fund income, then voting for administrations that tax self-employed small business owners at 50% on their marginal tax dollars. Or broke-ass welfare leeches or 15k burger flippers voting for 70% soak-the-rich tax rates. The unemployed, those on welfare, will have to support a tax rate that will cut into their own welfare payments by an identical percentage.
The only way to get a fair tax rate is for everyone to pay it. Equal treatment for all, and you only inflict on others what you are willing to pay yourself. Whether it ends up as 10%, 30%, 50% or 99%, at least it will be equally fair across all strata of society. My suspicion is that silly high marginal tax rates will become a thing of the past. Even the most socialist person generally will resent handing over more than about 35% of their income in taxes IMO.
oh, so you're another one of these Elitist Traders that thinks you're better than a "15k burger flipper." Hey rich man, next time you want a burger why don't you flip it yourself? And while you're at it go out in the field and pick the tomato and onions that you need to make your elite life bearable. And if you're too good to frequent a burger joint, next time you plop your ass down at a fancy restauraunt go get the food yourself. The poor waitresses check is being pilferred so you can live in a fair world.Quote from Ghost of Cutten:
It should be mandatory that everyone pays the same % of their income AND welfare payments in tax. That way, those who vote for (for example) a 50% tax rate, actually mean it and are not being totally hypocritical, because they are willing to pay 50% on their own income too. We will then see people setting a rate of tax only as high as they themselves are willing to pay.
If there are different tax rates, you get monstrosities like billionaires who are paying 15% capital gains on realised hedge fund income, then voting for administrations that tax self-employed small business owners at 50% on their marginal tax dollars. Or broke-ass welfare leeches or 15k burger flippers voting for 70% soak-the-rich tax rates. The unemployed, those on welfare, will have to support a tax rate that will cut into their own welfare payments by an identical percentage.
The only way to get a fair tax rate is for everyone to pay it. Equal treatment for all, and you only inflict on others what you are willing to pay yourself. Whether it ends up as 10%, 30%, 50% or 99%, at least it will be equally fair across all strata of society. My suspicion is that silly high marginal tax rates will become a thing of the past. Even the most socialist person generally will resent handing over more than about 35% of their income in taxes IMO.
Now why don't you do just like all the others and justify your superiority based on the fact that you work smarter not harder. Man, you must be really smart. Smarter than almost everybody else in the world. As a matter of fact, almost everybody in your whole family and neghborhood and even the country you were born in must be really smart. At least smarter than all those people born in Mexico.
ok, I have had my say, carry on, what was it you were saying about 15k burger flippers?
What do we need the taxes for again?
Jealousy? Wealth redistribution? Eternal war?
Jealousy? Wealth redistribution? Eternal war?
once you start collecting social security you can move to Mali and be the richest guy in the village. A house and a woman to clean it and wash your clothes, and another one to cook your food will cost about $30/mo (if you don't eat meat, about $60 if you do.)Quote from FireWalker:
What do we need the taxes for again?
Jealousy? Wealth redistribution? Eternal war?
300 million people are too many to manage. Go local. If you want to start a community of 50,000 with a tax rate of X%, go right ahead. Some wealthy feel guilt and want the taxation for whatever emotional reason. They'll move there to help out the little guy.
Can I please make enough money to leave the USA forever?