General Discussion

zipplewrath

(16,698 posts)

9. Could even tax wealth growth

Mon Sep 24, 2012, 09:47 PM

Sep 2012

Every year one has to establish their "net worth". Each year, one is taxed on the growth of that wealth If you are getting poorer, no tax. If you are getting richer, there's a tax.

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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