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Why don't we tax the rich?
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The rich already pay far more than their fair share, and this is coming from a guy who most certainly is not rich. If you really want to level the playing field, everyone should pay the same tax rate instead of penalizing success and subsidizing failure and laziness.
Somewhat agree.
What is more important is that graded taxation does far more damage to the middle and upper middle class to keep them from breaking up into high strata and brings them almost on level with lower income earners. Middle class lose all the tax breaks and credit that lower income people are given, but cannot invest or take advantage of tax shelters that upper class do.
What REALLY irks me though is corporate tax breaks and government funded incentives/kickbacks.
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FatFreeFrolicking wrote: »
Charity is more toxic then most think.
Truth is, mission trips benefit the volunteers more then they benefit the recipients.
Mission trips are short term and provide instant gratification rather then community development which is what these communities actually need. Community development is long term and not many people are willing to or able to volunteer their time to reshape a community's standard of living or quality of life.
I didn't say mission TRIPS... I said the missions... which there is a mission around here that does more good for the people and provides more low income services than even the government does... and it is supported by the local baptist churches in order to support local folks that are in need... not somewhere in Delaware even though the resources were given here.... and our mission trips are going to help missionaries from our church to complete a project that they need help with, whether it's building a building that is needed or a water well... But again, I did not state trips... and that's why one must be choosy on which charity they submit their earnings to... but like with most things, people are too lazy to do their homework on anything...0 -
I guess you missed the part where I apparently don't know anything about my own taxes. hahaha0 -
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I guess you missed the part where I apparently don't know anything about my own taxes. hahaha
LOL Don't worry... I'm an accountant and still mystified half the time
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Are you participating the "political" discussion that you were just condemning? And adding religion to the discussion?FatFreeFrolicking wrote: »
Charity is more toxic then most think.
Truth is, mission trips benefit the volunteers more then they benefit the recipients.
Mission trips are short term and provide instant gratification rather then community development which is what these communities actually need. Community development is long term and not many people are willing to or able to volunteer their time to reshape a community's standard of living or quality of life.
I'm shocked and appalled.
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For the record, I like politics and religion. I'm also happy to pay taxes for the amount of great services in this country. I am dismayed like most hard working folks when I see waste and laziness, but the good far outweighs the bad, imho.
I worry more about how self-centered people are becoming and believe that will be what crashes society.0 -
__drmerc__ wrote: »
Sorry I missed it with all the personal attacks going on.
This is obviously a super simplified example and does not apply to real world. Currently there is no cap on how much money you can make (an A in class)
All I'm saying is lets cap it at A or A+ so that the F students have a better chance to succeed
You could at least argue that by putting in the work everyone in class COULD earn an A, while in an economy with a relatively fixed supply of money, there is not enough free cash flow for everyone to earn xxx amount of income. Cause your argument wouldn't completely decimate an economy or anything
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Just let the government own everything and everyone can share everything equally.0
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Chief_Rocka wrote: »Just let the government own everything and everyone can share everything equally.
Finally some sensible thought!0 -
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__drmerc__ wrote: »
There is enough cash for everyone. Do you read the paper? Fed will turn on quantitative easing anytime we want now
Yeah, the amount of money 'printed' through QE to satisfy making everyone rich would cause hyperinflation. But hey, we'd all be billionaires!0 -
Chief_Rocka wrote: »Just let the government own everything and everyone can share everything equally.
Communist!0 -
Communist!
In...for communes.0 -
Some_Watery_Tart wrote: »Are you participating the "political" discussion that you were just condemning? And adding religion to the discussion?
I'm shocked and appalled.
I didn't discuss religion. I discussed charity work. Don't come and try to turn it into something it isn't.0 -
ryanwood935 wrote: »You could at least argue that by putting in the work everyone in class COULD earn an A, while in an economy with a relatively fixed supply of money, there is not enough free cash flow for everyone to earn xxx amount of income.
Everyone has the potential to work hard, better themselves, and earn more money. The fixed supply of money is irrelevant since the economy is based on supply and demand. If you equip yourself with skills or products that are in demand, you will take a portion of income from another area where demand is waning. So many gov't programs simple give people more money back to their pocket (while taking it from others who are making money because they are in demand) and not giving any improvement in their skill to make a better life for themselves. Graded taxation is a perfect example of that.
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__drmerc__ wrote: »
Sorry I missed it with all the personal attacks going on.
This is obviously a super simplified example and does not apply to real world. Currently there is no cap on how much money you can make (an A in class)
All I'm saying is lets cap it at A or A+ so that the F students have a better chance to succeed
lol...I certainly hope there is no cap on how much money I can make.
Here is a real world example:
18 months ago I quit my good job (6 figure salary - huge bonuses), took out a 2nd mortgage on the house, put EVERYTHING I owned up for collateral, got partners to finance what the banks would not finance, gave up significant ownership to the partners, and have been busting my butt for 18 months starting a new engineering firm. I invested about $300,000 just to open my doors (I have a very expensive lab)...first checks started coming in 90 days after opening. I currently owe $175k to creditors, down from $250k. I expect to have that paid off in 18-months. I have 9 highly compensated employees. I provide all of their benefits for free (health care, dental, sort/long term disability, and gift them 5% of their gross pay (OT, bonuses, and base pay) into their 401k - they don't have to contribute a penny. If they add a spouse or kid, they pick up that expense, but I subsidize 1/2. My business owns 5 pick-up trucks...2 Chevy's, 1 GM, and 2 Fords. They will be paid off in 2 years...but I pay $3,000/month to make payments on these.
I was profitable at 12 months and have 6 figures in the bank now. I expect my profit margin to be around 35% because I am very good at what I do and very expensive, as are my employees. I work between 50 and 70 hours per week. My employees a little less.
My employees risked a little - they too had to leave the jobs to join a start-up and they have faith in me and I trust them completely. I have rewarded them handsomely, so much so, they won't be enticed away.
I risked EVERYTHING...I mean everything. I can't wait to make over $1,000,000. I want to have tax problems...as in how to shelter what I earned.
I win again
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...like if someone were saying this is a "political" discussion, rather than economics? Just sayin'.FatFreeFrolicking wrote: »
I didn't discuss religion. I discussed charity work. Don't come and try to turn it into something it isn't.
Also, I suggest the US implement a national sales tax. This way everyone is taxed equally based on their consumer behavior. This includes tourists, undocumented immigrants, and the wealthy.
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FatFreeFrolicking wrote: »
Lol, you are such a troll. Politics affects government expenditure, legislation, creation of laws, tax cuts, etc., which ultimately have a very strong impact on the economy.
But... you also discussed politics here. *gasp*
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Some_Watery_Tart wrote: »...like if someone were saying this is a "political" discussion, rather than economics? Just sayin'.
Also, I suggest the US implement a national sales tax. This way everyone is taxed equally based on their consumer behavior. This includes tourists, undocumented immigrants, and the wealthy.
I said it's both. Reading comprehension…..?0 -
But... you also discussed politics here. *gasp*
Ya, God forbid I give a definition.0 -
FatFreeFrolicking wrote: »
I said it's both. Reading comprehension…..?
so you've threatened the OP and now ridiculing other users?
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I'd love to know where I "threatened" the OP? Clearly you have an incorrect understanding of what it means to threaten someone.0 -
rich people already consume too much calories, why do you want to tax them? :-)0
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FatFreeFrolicking wrote: »
I'd love to know where I "threatened" the OP? Clearly you have an incorrect understanding of what it means to threaten someone.
so you say something akin to "you better watch your step if you know what I'm saying" and I'm to assume that you are looking out for someone's well being?
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Go_Mizzou99 wrote: »18 months ago I quit my good job (6 figure salary - huge bonuses), took out a 2nd mortgage on the house, put EVERYTHING I owned up for collateral, got partners to finance what the banks would not finance, gave up significant ownership to the partners, and have been busting my butt for 18 months starting a new engineering firm. I invested about $300,000 just to open my doors (I have a very expensive lab)...first checks started coming in 90 days after opening. I currently owe $175k to creditors, down from $250k. I expect to have that paid off in 18-months. I have 9 highly compensated employees. I provide all of their benefits for free (health care, dental, sort/long term disability, and gift them 5% of their gross pay (OT, bonuses, and base pay) into their 401k - they don't have to contribute a penny. If they add a spouse or kid, they pick up that expense, but I subsidize 1/2. My business owns 5 pick-up trucks...2 Chevy's, 1 GM, and 2 Fords. They will be paid off in 2 years...but I pay $3,000/month to make payments on these.
I was profitable at 12 months and have 6 figures in the bank now. I expect my profit margin to be around 35% because I am very good at what I do and very expensive, as are my employees. I work between 50 and 70 hours per week. My employees a little less.
My employees risked a little - they too had to leave the jobs to join a start-up and they have faith in me and I trust them completely. I have rewarded them handsomely, so much so, they won't be enticed away.
I risked EVERYTHING...I mean everything. I can't wait to make over $1,000,000. I want to have tax problems...as in how to shelter what I earned.
I win again
I say we tax you more to help burger flippers. Those brand new smartphones and data plans aren't going to pay for themselves.
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FatFreeFrolicking wrote: »
I said it's both. Reading comprehension…..?
Yep, I understood what you were saying. You were saying that the OP should be in trouble for posting a political discussion (about economics). I'm saying, no, he shouldn't. I used an analogy to demonstrate that you inferred politics from economics the same way I inferred religion from charity. But that was probably too subtle to be clear.
So here is what I mean: while one may be related to the other, one does not require the other. We can have a non-political economic discussion, just like you can talk about missions, but not mean religion. You've flagged the post, so your vote has been made. Let's allow the mods decide what constitutes inappropriate discussion material and not throw around our own interpretations in the form of threatening comments.
Anyway, back to my BRILLIANT national sales tax suggestion. Thoughts from anyone? I feel like this would be a good solution.
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so you say something akin to "you better watch your step if you know what I'm saying" and I'm to assume that you are looking out for someone's well being?
I told the OP that this type of discussion is against the rules and that I'll let the mods deal with him now (since he didn't take my word of advice). That's far from threatening but whatever you say!0 -
Everyone has the potential to work hard, better themselves, and earn more money. The fixed supply of money is irrelevant since the economy is based on supply and demand. If you equip yourself with skills or products that are in demand, you will take a portion of income from another area where demand is waning. So many gov't programs simple give people more money back to their pocket (while taking it from others who are making money because they are in demand) and not giving any improvement in their skill to make a better life for themselves. Graded taxation is a perfect example of that.
I agree with all that, except taking that income from another source is reducing someone elses wealth. In this case, the rich become relatively poorer as we reach equilibrium. I was just giving the OP a less ridiculous example of his classroom 'fix'.0
This discussion has been closed.
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