General Discussion

paleotn

(22,684 posts)

11. Ding, ding, ding!!!....

Sun Jan 20, 2013, 11:51 AM

Jan 2013

We have a winner! That's precisely what we did in the US for most of the twentieth century. It also had the benefit of incentivizing top earners to keep their money in their businesses or various financial markets long term, instead of realizing it as income and having to pay tax. That's one reason behind the expansion of the US economy, creation of good paying jobs and the growth of a middle class over the same time period. Also, to some degree, it helps regulate financial bubbles. "Sorry, can't take my money out and invest it in something short term and stupid. I'd loose most of it in taxes, up front."

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

13 replies

= new reply since forum marked as read

Highlight:

$240 billion amassed by 100 richest people enough to end extreme poverty four times over: Oxfam [View all] xchrom Jan 2013 OP

I've heard that the U.S. is no longer the top country to better your financial situation.... Honeycombe8 Jan 2013 #1

It would only take 1/10th of billionaire assets.. ananda Jan 2013 #2

But... but... a rising tide lifts all boats... Make7 Jan 2013 #3

We tried that.... paleotn Jan 2013 #10

"... should the richest 100 billionaires give away the money they made LAST YEAR" Coyotl Jan 2013 #4

Good point... CJCRANE Jan 2013 #5

Ding, ding, ding!!!.... paleotn Jan 2013 #11

Yes, incentivizing economic activity used to happen Coyotl Jan 2013 #12

That's whay it's hard for most to comprehend a billion $ DryRain Jan 2013 #6

They make me sick...and SoapBox Jan 2013 #7

This needs to get out beyond Rawstory. Ilsa Jan 2013 #8

What good is it to not point fingers. These people should be called out at every chance. gtar100 Jan 2013 #9

Rec. progressoid Jan 2013 #13