Why not just reduce taxes for poorer people

  • Thread starter Thread starter morganist
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Quote from MGB:

Consider, for example, your typical billionaire, of which America now has more than 400. These fortunate few are invested primarily in equities on which they pay taxes at a 15 percent rate, whether their income comes in the form of capital gains or dividends. In addition to having the income from their wealth taxed at a low rate, the principal of their wealth is completely untaxed either directly or indirectly. Assuming they and their heirs spend only the income earned on the wealth each year, the tax rate today is 15 percent. In contrast, under the FairTax, the effective tax rate is 23 percent. Hence, the very wealthy will pay more taxes when the FairTax is enacted.
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Strong arguement for the death tax.
My example is valid for high earners, celebrities, CEO's, etc.
The only way to tax the uber rich is with a death tax.
 
simple solution: One inheritance tax rate, regardless of amount. No loopholes (special entities set up for tax minimization purposes, no gift giving exemptions...)

Quote from bigarrow:

String arguement for the death tax.
My example is valid for high earners, celebrities, CEO's, etc.
The only way to tax the uber rich is with a death tax.
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There is nothing wrong with our present graduated tax rate system (we have a spending problem not a collection problem), all the other systems progressively help the wealthy. Fairtax, flat tax both shift more of the tax load from the wealthy to the middle class.
The government spends a fixed amount of money, the mega wealthy save hundreds of millions to billions a year under the fair and flat tax... the difference is made up by the middle class. No one here should be for the flat tax, fairtax or repeal of the death tax.
 
Quote from bigarrow:

There is nothing wrong with our present graduated tax rate system (we have a spending problem not a collection problem), all the other systems progressively help the wealthy. Fairtax, flat tax both shift more of the tax load from the wealthy to the middle class.
The government spends a fixed amount of money, the mega wealthy save hundreds of millions to billions a year under the fair and flat tax... the difference is made up by the middle class. No one here should be for the flat tax, fairtax or repeal of the death tax.
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You haven't read any information on the FairTax have you? :D
 
Quote from asiaprop:

I did not try to change your mind as stated I have no clue about the FairTax. But any tax that does directly tax income does not make sense from the beginning, and I stated why.
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No clue about the FairTax, yes that obvious, but that's not stopping you from making comments like "Lets not make life more difficult than it is. Tax is on income not on money spend. I dont want to pay a tax because I eat bread, breathe air..."

Take the time to learn about it. It'll be worth your time and you'll understand why it's so important.
 
another lobbyist, exactly the kind of people we all should get rid of....


Quote from AlpineTrout:

No clue about the FairTax, yes that obvious, but that's not stopping you from making comments like "Lets not make life more difficult than it is. Tax is on income not on money spend. I dont want to pay a tax because I eat bread, breathe air..."

Take the time to learn about it. It'll be worth your time and you'll understand why it's so important.
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Quote from heypa:

A tax of 23% on every transaction should not be tolerated.
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So this is the sum of your dispute with the FairTax. Brilliant.

Do you understand that there would be no Income Tax, Payroll Tax or Capital Gains Tax? You would keep ALL of your gross income.
 
To hell with what I would gain.
Is it really good for the country to only consider the Federal take and not the sum total tax and fee take.
SPENDING AT ALL LEVELS IS THE PROBLEM !
Until that is realistically addressed there is no hope for our Constitutional Republic .
I live in Kalifornia.
 
The real problem is in how elections are run. I believe that no person or entity should be allowed to aid or influence any election unless they are qualified to vote specifically for the candidate or proposition on a legal official ballot.
They individually should be disallowed from voting for any initiative if they would not be directly responsible for the monies to pay for it.
ALSO.
We need an education system that truly teaches based on facts and encourages logical analysis based on cause and affect.
Just my humble opinion.
That should open a pretty good sized can of worms.
 
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