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Scuba

(53,475 posts)

3. We should tax and tax and tax them until they're only fabulously wealthy.

Reply to 1939 (Reply #2)

Tue Jul 14, 2015, 09:43 AM

Jul 2015

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The case for higher taxes on the wealthy [View all] Scuba Jul 2015 OP

Start a movement madokie Jul 2015 #1

What is the purpose of taxes? 1939 Jul 2015 #2

We should tax and tax and tax them until they're only fabulously wealthy. Scuba Jul 2015 #3

In other words, to punish 1939 Jul 2015 #4

How are they punished if they remain fabulously wealthy? Do they have some inalienable ... Scuba Jul 2015 #10

Not inalienable.... daleanime Jul 2015 #52

That's garbage. PETRUS Jul 2015 #11

We do not punish the rich. They are rich and the law is for the commoners. hifiguy Jul 2015 #45

Oh, my, your stunning insight has forced me to change my mind.... daleanime Jul 2015 #51

Certainly, a progressive tax scheme would raise the percentage closeupready Jul 2015 #5

The purpose of taxes. PETRUS Jul 2015 #6

Was thinking of posting, but you beat me to it. Xyzse Jul 2015 #8

... PETRUS Jul 2015 #9

Then make the argument 1939 Jul 2015 #13

Here's a paper: PETRUS Jul 2015 #14

Not an expert on this subject at all but I do know that when Eisenhower had 91% taxation for the jwirr Jul 2015 #16

+1 daleanime Jul 2015 #53

+2 Enthusiast Jul 2015 #58

Please make your argument too. Gormy Cuss Jul 2015 #73

I don't have a paper, but here goes 1939 Jul 2015 #105

That is not an accurate characterization of the paper. PETRUS Jul 2015 #108

Unfortunately, there are no safeguards that limit the power Zorra Jul 2015 #15

I like this solution also. jwirr Jul 2015 #19

Nicely done. Thank you. Scuba Jul 2015 #63

Whereever that sweet spot is, we can tax quite a bit and not get near it. el_bryanto Jul 2015 #17

"punish people for being winners" lumberjack_jeff Jul 2015 #54

What A Load Of Rubbish ProfessorGAC Jul 2015 #65

Defending the rich on DU????? Hotler Jul 2015 #68

wrong TheFarseer Jul 2015 #91

Ah yes, the appropriately named Laffer curve Major Nikon Jul 2015 #93

Yeah the rich should be punished for their greed treestar Jul 2015 #97

No one knows where the 'sweet spot' is and there really isn't a good way to find out. PoliticAverse Jul 2015 #103

You had better hope they stay very wealthy hack89 Jul 2015 #7

The definition of rich is relative. And they have already stopped paying thier fair share of taxes. jwirr Jul 2015 #20

You miss my point hack89 Jul 2015 #22

Sorry. Yet we have to do something about the wealth inequality and the large corporations and jwirr Jul 2015 #23

You don't really have a point. PETRUS Jul 2015 #24

Making rich people indispensable is fine with me hack89 Jul 2015 #26

Higher marginal tax rates don't make rich people indispensable. PETRUS Jul 2015 #28

+1 a huge bunch! Very well said. Enthusiast Jul 2015 #59

Just an aside, other cities have their own income tax TacoD Jul 2015 #27

Even small communities can have a income tax. They add their percentage to the state tax and jwirr Jul 2015 #80

Quantify "fair share" NT 1939 Jul 2015 #79

Well you are correct about that. I guess that is why we have brakets. Given the profits the rich jwirr Jul 2015 #81

They didn't rebel, they just adjusted their investments 1939 Jul 2015 #83

So in a sense the Rs are right - they are the job creators. Only now they are creating those jobs jwirr Jul 2015 #85

In the hypothetical world that results from overtaxing the rich... *sniff*... lumberjack_jeff Jul 2015 #55

+1! Well said! Enthusiast Jul 2015 #60

The rich need to pay more hack89 Jul 2015 #61

"Gimme some money" nt clarice Jul 2015 #12

My usual arguement with a "Trickle Down Proponent" - paraphrased Xolodno Jul 2015 #18

There should be a cap on income fadedrose Jul 2015 #21

"There should be a cap on income". That's insane. nt clarice Jul 2015 #25

Says you. PETRUS Jul 2015 #29

So, by what moral mandate do you consider yourself entitled to someone else's money? nt clarice Jul 2015 #31

You should ask the corporations and oligarchs PowerToThePeople Jul 2015 #40

No, I am asking a direct question...by what moral mandate.....nt clarice Jul 2015 #42

That is a silly and shallow question. PETRUS Jul 2015 #49

as soon as you put it that way treestar Jul 2015 #99

waiting. nt clarice Jul 2015 #38

You seemed so eager to have this conversation. PETRUS Jul 2015 #86

They pay people, even kids, 20 cents an hour fadedrose Jul 2015 #48

Is that the extent of your argument? Or is there a "Because...." lumberjack_jeff Jul 2015 #56

Tax all wealth over 5 million @ 100%. PowerToThePeople Jul 2015 #30

lol.nt clarice Jul 2015 #32

Ok, sorry. Tax all wealth over 1 million @ 100%. PowerToThePeople Jul 2015 #33

That would CERTAINLY make YOUR life easier. If you have .... clarice Jul 2015 #34

It is only their money PowerToThePeople Jul 2015 #36

You know..... clarice Jul 2015 #37

And what do you call hiding behind a corporate entity that does the upward redistribution? PowerToThePeople Jul 2015 #39

I would look at the number of people that they employ..... clarice Jul 2015 #41

So corporations allow us to live now? PowerToThePeople Jul 2015 #43

My goodness, I don't know where to start with you.....I will try to help you tomorrow.nt clarice Jul 2015 #46

No thanks, I do not need any help PowerToThePeople Jul 2015 #47

You have it backwards. lumberjack_jeff Jul 2015 #57

The "equal income crowd"??? HughBeaumont Jul 2015 #62

Anyone over $1milion? Elmergantry Jul 2015 #98

Not all earning is criminal treestar Jul 2015 #101

Many of the people drawing that level of income have no moral qualms about Gormy Cuss Jul 2015 #76

True, Elmergantry Jul 2015 #110

There's a wide gap between effective tax rates for them now and taxing 'the snot out of them.' Gormy Cuss Jul 2015 #111

Well there are post here Elmergantry Jul 2015 #112

Those are marginal tax rates, not effective tax rates Gormy Cuss Jul 2015 #113

Yes I know your position, and I not referring to moderate tax increases. Elmergantry Jul 2015 #116

See the thing is PowerToThePeople Jul 2015 #115

Dont think it would be constitutional Elmergantry Jul 2015 #117

It certainly could be written into the tax code. PowerToThePeople Jul 2015 #119

Sure it could... Elmergantry Jul 2015 #120

If it is the tax law (not that it is likely to pass soon) treestar Jul 2015 #100

Guess we've got some Milton Friedman Democrats around. Starry Messenger Jul 2015 #35

Some aromas are unmistakable. nt PETRUS Jul 2015 #50

Thanks for all the work up there. :) Starry Messenger Jul 2015 #75

Thanks. PETRUS Jul 2015 #77

Way overdue. HughBeaumont Jul 2015 #90

Eat the rich! hifiguy Jul 2015 #44

I propose a flat tax Orrex Jul 2015 #64

gibberish Lurker Deluxe Jul 2015 #66

Even Hollande in France stopped at 75% over �1 million DFW Jul 2015 #67

Not familiar with hyperbole, I take it? Orrex Jul 2015 #69

OK Lurker Deluxe Jul 2015 #70

Reply where you wish; I can't speak for that other poster. Orrex Jul 2015 #71

I think they should pay higher taxes, but the percentages tossed around here are mind-boggling. Calista241 Jul 2015 #72

Taxing the wealthy is not "punishing the wealthy" Orrex Jul 2015 #74

+1 Scuba Jul 2015 #78

A flat 15% or 20% tax on revenue is way way way too high taught_me_patience Jul 2015 #82

Sounds reasonable. Calista241 Jul 2015 #84

Why have a Federal income tax at all? Elmergantry Jul 2015 #87

See post #6 PETRUS Jul 2015 #88

Disagree with #6 Elmergantry Jul 2015 #95

That's odd. PETRUS Jul 2015 #106

Well yes, I think there is a better way to fund govt. Elmergantry Jul 2015 #109

government shouldn't "pick winners or losers" PETRUS Jul 2015 #114

"Abraham Lincoln did it" NYC Liberal Jul 2015 #94

Yes he did, but that doesnt change the fact Elmergantry Jul 2015 #96

Because inflation is a tax on everyone and distorts economic activity and decisions. PoliticAverse Jul 2015 #104

The rich should pay the vast majority of taxes. Jetboy Jul 2015 #89

+ Eighty Gazillion Scuba Jul 2015 #92

They do. Meanwhile, European countries fund their social spending with a much more regressive VAT Recursion Jul 2015 #107

Our tax rates are much more progressive as they stand compared to Europe Elmergantry Jul 2015 #118

Hardly a revolution PATRICK Jul 2015 #102