General Discussion

1-Old-Man

(2,667 posts) Mon Sep 24, 2012, 09:16 PM Sep 2012

How would you go about taxing wealth? [View all]

How do you tax wealth, not income, wealth. Other than an aggressive inheritance tax I'm not sure what would work. I'd love to hear ideas.

142 replies

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How would you go about taxing wealth? [View all] 1-Old-Man Sep 2012 OP

Never tax wealth that is insane RegieRocker Sep 2012 #1

why insane? do you think that the property tax is insane? bbgrunt Sep 2012 #50

Damn straight!!! RegieRocker Sep 2012 #64

Why would you tax wealth? Animal Chin Sep 2012 #2

That's what I was wondering. nt Honeycombe8 Sep 2012 #19

to raise money Enrique Sep 2012 #29

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #34

To prevent accumulation over generations. bemildred Sep 2012 #138

Inheritance tax is probably easiest n2doc Sep 2012 #3

Did lowering cg taxes encourage and increase investing, which helped the stock market? Honeycombe8 Sep 2012 #20

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #37

Aggressively. H2O Man Sep 2012 #4

Yes panader0 Sep 2012 #16

Just 2% of household net worth, less a $100K per household deduction = $1 trillion tax rev. reformist2 Sep 2012 #5

Could even tax wealth growth zipplewrath Sep 2012 #9

That already happens. A HERETIC I AM Sep 2012 #14

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #38

The reason it is elementary is because the concept is elementary joeglow3 Sep 2012 #119

1% of the value on the annual report. nt Wounded Bear Sep 2012 #6

Tax capital gains like any other income, for starters.. . . annabanana Sep 2012 #7

Why are you punishing someone Missycim Sep 2012 #22

If they have the spare to invest annabanana Sep 2012 #24

Don't you think that money HELPS people when someone invests it? Missycim Sep 2012 #25

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #41

Then whats the difference if businesses use that Missycim Sep 2012 #48

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #59

100%??? Liberal Gramma Sep 2012 #54

I am being facetious Missycim Sep 2012 #56

My opinion: no Liberal Gramma Sep 2012 #101

Why do we punish workers Oregonian Sep 2012 #126

If you lose money on an investment you are allowed to apply that loss to future gains True Earthling Sep 2012 #118

This entire thread is like troll fly paper. nt TBF Sep 2012 #61

Roflmao you got that right RegieRocker Sep 2012 #66

Or people who don't like the OP's Missycim Sep 2012 #68

"People" who don't like it are ruling class apologists - TBF Sep 2012 #69

ok in other words people who don't agree with you, ok got that. Missycim Sep 2012 #70

Right, I am not a republican or an apologist for the ruling class. TBF Sep 2012 #71

No you don't understand me Missycim Sep 2012 #72

I understand you. Kingofalldems Sep 2012 #74

A) NO ONE invests to create jobs. They invest to create income FOR THEMSELVES. lumberjack_jeff Sep 2012 #104

I think you missed my point Missycim Sep 2012 #110

The only relevant wealth for the purpose of this argument is the income producing kind lumberjack_jeff Sep 2012 #122

The Op suggested wealth be taxed Missycim Sep 2012 #130

It's unnecessary to force the liquidation of assets lumberjack_jeff Sep 2012 #133

Get rid of Capital Gains and to redo the Estate Rules... WCGreen Sep 2012 #8

Tax Capital Gains and Interest Income. nt bluestate10 Sep 2012 #10

That already happens. n/t A HERETIC I AM Sep 2012 #15

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #43

No it doesn't happen to the right extent. bluestate10 Sep 2012 #87

As if income taxes weren't difficult enough... dkf Sep 2012 #11

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #45

Taxing wealth once it's aquired seems punitive Canuckistanian Sep 2012 #12

A flat tax on wealth is actually more progressive than a progressive income tax - and simpler. reformist2 Sep 2012 #13

I am confused on your claim. bluestate10 Sep 2012 #88

A person worth $1 billion pays peanuts in income taxes, but would pay $20 million a year.. reformist2 Sep 2012 #97

Not punitive, essential to a healthy national economy. Vast individual/familial wealth Egalitarian Thug Sep 2012 #26

Ya and so? Missycim Sep 2012 #30

So taxation is now a crime? Are you sure you're in the right place? n/t Egalitarian Thug Sep 2012 #35

poor deflection atempt Missycim Sep 2012 #36

Ah, my bad. I'm/we're talking about inheritance tax and I never made that clear. Egalitarian Thug Sep 2012 #63

Sorry I thought Missycim Sep 2012 #67

I wouldn't either. Sometimes my brain works faster than my fingers can and I tend to skip Egalitarian Thug Sep 2012 #93

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #46

I wouldn't RB TexLa Sep 2012 #17

Rates are easy to do BanTheGOP Sep 2012 #18

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #47

How often would you levy that tax? (nt) muriel_volestrangler Sep 2012 #128

My proposals. mick063 Sep 2012 #21

good ideas. I like. bbgrunt Sep 2012 #55

Confiscatory inheritance taxes on large piles of cash. hifiguy Sep 2012 #23

Why should farms or family businesses escapee taxes? Missycim Sep 2012 #31

Social utility and equity. hifiguy Sep 2012 #39

As far as farms go, JoeyT Sep 2012 #57

Yep. Well said. hifiguy Sep 2012 #58

I remember back in the 80's when I did tax returns there upaloopa Sep 2012 #27

I believe every state taxes ownership of registered motor vehicles and boats slackmaster Sep 2012 #96

they just did it in France Enrique Sep 2012 #28

I really love these threads Missycim Sep 2012 #32

lolol TBF Sep 2012 #62

I would tax gopiscrap Sep 2012 #33

Tax INCOME from all sources. The greater the income bracket, the higher the rate. kestrel91316 Sep 2012 #40

I agree. nt bluestate10 Sep 2012 #89

As far as taxing wealth, make sure we have an ironclad inheritance tax. kestrel91316 Sep 2012 #42

Remove the SS cap ...for one. L0oniX Sep 2012 #44

Taxing wealth is complicated I think yends21012 Sep 2012 #49

Um. the way they USED to when Reagan was President? progressivebydesign Sep 2012 #51

Other than inheritance and property tax you can't really tax "wealth" but we should bamacrat Sep 2012 #52

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #53

this i would fight against. what if i want yo send money to family abroad loli phabay Sep 2012 #75

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #78

yup this i would vote against. you do realise that people have interactions everyday loli phabay Sep 2012 #80

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #83

yyup but do you pay it at a hundred percent loli phabay Sep 2012 #90

Yeah. Build a wall around the country and prohibit doing business w/anyone outside the border. cherokeeprogressive Sep 2012 #84

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #86

Do you have any clue as to what you are talking about? oldhippie Sep 2012 #94

So how does my company, which employs nothing but American Citizens, do business outside cherokeeprogressive Sep 2012 #107

And if you had a child who was traveling outside of the country, and had a problem? MiniMe Sep 2012 #91

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #102

Of course I would help MiniMe Sep 2012 #135

This message was self-deleted by its author AnotherMcIntosh Sep 2012 #141

So that's a 100% tax on all imports, including oil muriel_volestrangler Sep 2012 #131

Repeal all the tax cuts to capital gains made over the past 30 TBF Sep 2012 #60

Come on, let's just admit it... hughee99 Sep 2012 #65

It is about fairness but we also do need the money. So it's both, nt. limpyhobbler Sep 2012 #76

If it were just a matter of needing the money, hughee99 Sep 2012 #85

Well, since you ask rock Sep 2012 #73

1 percent tax per year on all wealth over a certain amount. limpyhobbler Sep 2012 #77

I'm strongly opposed to wealth confiscation slackmaster Sep 2012 #79

Every wealthy person should pay taxes every year, no matter what. reformist2 Sep 2012 #81

Why? How would you define "wealthy?" Would it be indexed annually for inflation? slackmaster Sep 2012 #82

I'm strongly opposed to wealth accumulation leftstreet Sep 2012 #92

Do you believe the amount of money that can exist is finite? That the economy is a zero-sum game? slackmaster Sep 2012 #95

This statement is complete nonsense - TBF Sep 2012 #99

Just out of curiosity, which family are you referring to? n/t cherokeeprogressive Sep 2012 #108

Walton family (link in message) TBF Sep 2012 #120

Does the Walton family or the Pritzkers or whoever having a lot of money make you poor? slackmaster Sep 2012 #111

Oh come on - TBF Sep 2012 #121

You got one thing right slackmaster Sep 2012 #123

Nothing I say will make sense to YOU is correct - TBF Sep 2012 #132

I'll tell you what makes even less sense to me than what you wrote slackmaster Sep 2012 #134

I have no problem with ending the wars - TBF Sep 2012 #139

It was true then. It is still true today. It will be true tomorrow. lumberjack_jeff Sep 2012 #106

That is nonsense. There are economies in this world in which there is no debt at all, slackmaster Sep 2012 #113

Keep tellling yourself that. Kindly Refrain Sep 2012 #116

Watch "money as debt" lumberjack_jeff Sep 2012 #124

Then you are just assigning numbers to nonexistent things. Kindly Refrain Sep 2012 #115

I have something tangible to show as a reward for 33 years of hard work slackmaster Sep 2012 #117

Finally - a sane comment in this thread. nt TBF Sep 2012 #98

Fine. Tax 85% of the dividends/interest/gains that this sacred wealth throws off. n/t lumberjack_jeff Sep 2012 #105

If you think you can get Congress to do that, by all means go for it slackmaster Sep 2012 #114

100% tax on profits on stock sold less than one year from purchase OmahaBlueDog Sep 2012 #100

A tax on unearned income. lumberjack_jeff Sep 2012 #103

What to do brazil Sep 2012 #109

All income above 5 million dollars taxed 100% Kindly Refrain Sep 2012 #112

Exactly! What we should have is a government that determines what people NEED hughee99 Sep 2012 #127

You'll raise more revenue with just a 2% flat tax on wealth... reformist2 Sep 2012 #137

Would you accept wealth as payment of the wealth tax? Or would you require cash? Egalitariat Sep 2012 #125

What about a VAT or sales tax? kurt_cagle Sep 2012 #129

How about ENDING THE STUPID, POINTLESS WARS? slackmaster Sep 2012 #136

Post removed Post removed Sep 2012 #140

Bad idea Yo_Mama Sep 2012 #142