Integrity
Binge Poster
Because that is the bracket that they will find themselves, according to my idea at least.
The Scourge of America with Integrity (On Topic Only Please)
- Thread starter Integrity
- Start date
You do understand that a progressive tax topping out at 91% means that income above a certain amount is taxed at 91%? That lower amounts of income are taxed the same as everyone else?
Just want to clarify that you aren't suggesting taking almost everything away from the rich.
Integrity
Binge Poster
If the scourge of America is identified and removed then doesn’t America and all Americans win .Well first off, you’re about as wrong here as you could be.
Secondly, I’m moving this discussion to current events, because I’m pretty sure this conversation is gonna get somewhat political.
Integrity
Binge Poster
Batman,
If it were my call my idea would model the US tax rates similar to 1960 rates changing the dollar amount to reflect modern incomes.
Just trying to have an idea to remove what I believe to be the scourge of American society.
I think Jerry Maguire would think of it like a mission statement. Make less money.
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Are you thinking if we take from the rich and give to the poor that there's enough to eliminate poverty? Could you please explain why we still have poverty in spite of programs that have spent, after adjusting for inflation, trillions since the 1960's?
Should we punish those who create jobs? I have a problem with those who make promises in exchange for my labor then turns out they never intended to keep those promises. But in general if a guy strives to start a business and works hard to make it successful, providing goods or services people want, and provides gainful employment to others, shouldn't he be rewarded? If you tax the producers too much and redistribute to non producers because that's "fair", pretty soon producers will never even try because what's the point?
People should be content with the results of the efforts they make. If you don't go to school and settle for jobs that don't require expertise, and that provide you with a place to live, food to eat, clothes to wear, a tv, phone, and car, anything else is gravy. If a person isn't satisfied with that, instead of looking to take away from those who strive more than they do they should learn to strive more too. It's the envy of those with nice things that's the true scourge of America.
I exist on little income thanks to my dad. My dad worked sun up to past sundown for decades and has nice things and a comfortable retirement. I can argue that he also benefited from buying a home in the 60's for by today's standards a pittance and was able to pay it off early because his income greatly increased with inflation in the 70's. Part of having nice things sometimes means being in the right place at the right time. I worry about young adults today trying to figure out how to buy a home at today's prices in a service economy.
And that's the crux of the matter. Today's economy has put wealth into fewer hands and a lot of people are realizing their education put them in debt without a lot of opportunity to pay it off and have the life they envisioned. So they look at those who are successful and think that's unfair and we should take his wealth away by taxation. So it boils down to envy. Again, a lot of business owners deserve scorn for how they treat employees. But as the Apostle Paul once wrote: "....for I have learned in whatever state I am, to be content."
You can not raise people up by tearing others down.
Integrity
Binge Poster
I agree in principle with this .
Terrific.
So we're agreed that tearing the rich down won't solve the problems of the poor.
Glad we straightened that out.
Integrity
Binge Poster
My idea has nothing do with tearing anyone down or solving others specific problems. I simply identified what I believe to be the scourge of America and my suggested solution.
BrownFlush
Woke Racist Reigning Ban King
I don’t agree with your premise in your OP.
How ever one has accumulated an “absurd amount of wealth “ “absurd power “ isn’t the guaranteed result.
I still think you have it in for the wealthy.
Nothing wrong with having money. Just don’t let money have you. And, stop coveting.
Flat tax is the only fair tax.
Integrity
Binge Poster
IMO Both have proven to be a problem in the governance of American society.
I have nothing against the wealthy, if I did I’d be against myself because I’m eternally rich beyond measure.
Do you oppose the current US income tax laws?
The tax laws are too complex. Most can be eliminated with the Fair Tax.
Integrity
Binge Poster
I don’t see them as too complex
IMO The Fair Tax Act would exacerbate what I believe is the scourge of American society thereby causing more harm to Americans.
Are you familiar with the Fair Tax? And do you realize why there are so many CPA's and tax attorneys in this country? Just because your personal taxes aren't complex doesn't mean that the regulatory burden put on both business owners and wealthy individuals isn't complex.
Integrity
Binge Poster
But it's relevant to many others. Doesn't have to be the Fair Tax. Just streamline the paying of taxes for all instead of wasting billions annually just trying to comply with ever changing laws.
Integrity
Binge Poster
Not to me.
How is this relevant to what I believe to be the scourge of American society and the possible removal of said scourge?
Because you are wanting to create yet another level of taxation with the full intent of taking away from the wealthy. You say 91% but have yet to say what level of income would kick in the 91%. Millions? Hundreds of thousands? If a business increases in value would it be taxed at 91% or is this strictly individual income? Which would lead to individuals seeking tax professionals to find a way around it which would lead to the government taxing other assets to gain back what individuals are avoiding. And lead to wealthy individuals contributing to campaign coffers to get the result they want which leads to more burden put on the middle class.
All that is part and parcel of what happens now and is why we have a ridiculously complex tax code. Folks like you just want what you want and never consider the ramifications. Which is exactly why we need a flat tax with allowances for the lower income individuals.
I favor a 10% sales tax across the board, including for the purchase and sale of capital assets. Abolish the income tax.
