General Discussion

erronis

(23,268 posts)

20. OK - thanks. Too bad this is just an income tax that the wealthy don't have to worry about

Sat May 16, 2015, 03:44 PM

May 2015

While capital gains was probably much higher than it is now, I'm guessing that a lot of truly wealthy people didn't need to declare income from investments that were hidden outside of the normal IRS reporting system.

And even now, the truly wealthy can take payments for "services rendered" in lots of non-trackable benefits.

If we discount totally the trickle-down meme that has been a favorite of various economists and presidential advisors is there any reason to not tax any income at the same progressive rates?

Accumulated wealth is a bit harder to get at except as inheritance taxes (upon transfer) or as a small percentage of wealth declared.

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Letter from Canada that should be published EVERYWHERE! [View all] napi21 May 2015 OP

Damn right! 3catwoman3 May 2015 #1

Most US plods don't wan't to know shite about what's happening erronis May 2015 #16

Exactly +1000000000 nt Andy823 May 2015 #2

Our economy is not back to where it was in 2008. Romulox May 2015 #3

What did you have in 2008 that you don't have now? napi21 May 2015 #4

In 2008 my husband had a good job that he had held LibDemAlways May 2015 #14

I got help with HARP wryter2000 May 2015 #7

How about we send you TPP instead? whereisjustice May 2015 #5

+1, sadly. navarth May 2015 #8

good idea 840high May 2015 #13

He apparently doesn't watch Fox News world wide wally May 2015 #6

And on the 8th day... Augiedog May 2015 #9

They don't understand one thing. House of Roberts May 2015 #10

Huh? Any info to support your statement? erronis May 2015 #18

After WW2 the debt was over 100% of GDP House of Roberts May 2015 #19

OK - thanks. Too bad this is just an income tax that the wealthy don't have to worry about erronis May 2015 #20

Apart from the bit about unemployment hifiguy May 2015 #11

“In individuals, insanity is rare; but in groups, parties, nations, and epochs it is the rule.” Tierra_y_Libertad May 2015 #12

K&R! stonecutter357 May 2015 #15

But, Benghazi. kairos12 May 2015 #17

It will never end until the GOP loses majority. It's their new Starr Chamber. If HRC... freshwest May 2015 #24

I suspect this is all true... kentuck May 2015 #21

and why is it druidity33 May 2015 #22

It's a problem. kentuck May 2015 #23

Mostly because the many of the GOOD PAYING jobs have been outsourced. napi21 May 2015 #26

Over 90% of all economic gains have gone to top 1%, most of us have stayed the same or gotten Dont call me Shirley May 2015 #25

"There's no inflation" awoke_in_2003 May 2015 #27

This message was self-deleted by its author tblue37 May 2015 #28

You are too funny! I would take President Obama any day. But am not trading my hero akbacchus_BC May 2015 #29

Hmm - no mention of economic inequality - TBF May 2015 #30