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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Here we go

Here we go

Scheduled Pinned Locked Moved General Discussion
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  • MikM Mik

    I have a serious problem with a wealth tax, just as with the estate tax.

    LuFins DadL Offline
    LuFins DadL Offline
    LuFins Dad
    wrote on last edited by
    #6

    @mik Don't forget an investment tax...

    The Brad

    1 Reply Last reply
    • MikM Offline
      MikM Offline
      Mik
      wrote on last edited by
      #7

      That's a killer.

      “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

      1 Reply Last reply
      • MikM Mik

        I have a serious problem with a wealth tax, just as with the estate tax.

        George KG Offline
        George KG Offline
        George K
        wrote on last edited by
        #8

        @mik said in Here we go:

        I have a serious problem with a wealth tax,

        So does the constitution, according to many.

        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

        1 Reply Last reply
        • MikM Offline
          MikM Offline
          Mik
          wrote on last edited by
          #9

          4th Amendment, baby.

          “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

          1 Reply Last reply
          • 89th8 Online
            89th8 Online
            89th
            wrote on last edited by
            #10

            What we need is smart and simple tax reform, combine with smart government spending cuts. If taxes increase it should be on everyone not just those who are already paying a higher % than everyone else, like Horace.

            1 Reply Last reply
            • CopperC Offline
              CopperC Offline
              Copper
              wrote on last edited by
              #11

              Balance the budget, then reduce spending

              Then reduce it again

              Problem solved

              1 Reply Last reply
              • AxtremusA Away
                AxtremusA Away
                Axtremus
                wrote on last edited by
                #12

                Wealth tax should be instituted.

                Capital gains and estate taxes should be raised.

                If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                George KG LuFins DadL CopperC 3 Replies Last reply
                • AxtremusA Axtremus

                  Wealth tax should be instituted.

                  Capital gains and estate taxes should be raised.

                  If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                  Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                  Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                  George KG Offline
                  George KG Offline
                  George K
                  wrote on last edited by George K
                  #13

                  @axtremus said in Here we go:

                  Wealth tax should be instituted.

                  Tax 'em twice!

                  estate taxes should be raised

                  Tax 'em twice, again!

                  encouraging "work"

                  Oh. My. Sides. You mean like the COVID relief for 21 weeks for federal workers? C'mon, man!

                  'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."

                  "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                  The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                  AxtremusA 1 Reply Last reply
                  • AxtremusA Axtremus

                    Wealth tax should be instituted.

                    Capital gains and estate taxes should be raised.

                    If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                    Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                    Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                    LuFins DadL Offline
                    LuFins DadL Offline
                    LuFins Dad
                    wrote on last edited by
                    #14

                    @axtremus said in Here we go:

                    Wealth tax should be instituted.

                    Capital gains and estate taxes should be raised.

                    If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                    Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                    Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                    Coz people richer than me are Evil.

                    And the government can be trusted to spend the money sooooo wisely and well.

                    The Brad

                    AxtremusA 1 Reply Last reply
                    • AxtremusA Axtremus

                      Wealth tax should be instituted.

                      Capital gains and estate taxes should be raised.

                      If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                      Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                      Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                      CopperC Offline
                      CopperC Offline
                      Copper
                      wrote on last edited by
                      #15

                      @axtremus said in Here we go:

                      income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                      For a lot of people those things represent work

                      Income tax and wealth tax are bad for everyone

                      Even for democrats that have absolutely no clue what they are talking about

                      All they know is hate for people they don't understand

                      Hate

                      1 Reply Last reply
                      • MikM Offline
                        MikM Offline
                        Mik
                        wrote on last edited by Mik
                        #16

                        Work is a good thing, but for most everyone the goal is to amass wealth such that you no longer have to work for a living. Heck, there’s even government programs for that. Big fucking government programs.

                        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                        1 Reply Last reply
                        • George KG George K

                          @axtremus said in Here we go:

                          Wealth tax should be instituted.

                          Tax 'em twice!

                          estate taxes should be raised

                          Tax 'em twice, again!

                          encouraging "work"

                          Oh. My. Sides. You mean like the COVID relief for 21 weeks for federal workers? C'mon, man!

                          'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."

                          AxtremusA Away
                          AxtremusA Away
                          Axtremus
                          wrote on last edited by
                          #17

                          @george-k said in Here we go:

                          'Splain to me how raising taxes on income, wealth, estates, encourages "work?" If I'm going to be taxed more, there's a point where I'll just say, "Screw it, it's not worth the effort."

                          High threshold, e.g., the first $11.58million being "tax free" per the estate tax example. And the fact that if you stop working, your wealth will be slowly taxed back down to that threshold -- that's an incentive to keep you working.

                          1 Reply Last reply
                          • MikM Offline
                            MikM Offline
                            Mik
                            wrote on last edited by
                            #18

                            So you wish to enslave the successful.

                            “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                            AxtremusA 1 Reply Last reply
                            • LuFins DadL LuFins Dad

                              @axtremus said in Here we go:

                              Wealth tax should be instituted.

                              Capital gains and estate taxes should be raised.

                              If we claim to value "work" and want to encourage "work," then we ought to tax income from "work" less than we tax other types of incomes, such as those from investments, inheritances, or rent-seeking.

                              Acute concentration of wealth does a society no good. You want the tilt the balance more towards encouraging "work" rather than just let money automatically make more money just because there is a big pile of it.

                              Set a high threshold so there is still lots of incentives for lots of people to accumulate wealth. E.g., the estate tax does not kick in for the first $11.58million of the assets, you can craft a similarly high threshold for when a wealth tax gets triggered. But start closing the gap between capital gains tax and marginal earned income tax beyond certain threshold and start taxing wealth beyond certain threshold.

                              Coz people richer than me are Evil.

                              And the government can be trusted to spend the money sooooo wisely and well.

                              AxtremusA Away
                              AxtremusA Away
                              Axtremus
                              wrote on last edited by Axtremus
                              #19

                              @lufins-dad said in Here we go:

                              And the government can be trusted to spend the money sooooo wisely and well.

                              We the people elect those who make up the government. We the people determine to whom we entrust the power of the purse.

                              1 Reply Last reply
                              • MikM Mik

                                So you wish to enslave the successful.

                                AxtremusA Away
                                AxtremusA Away
                                Axtremus
                                wrote on last edited by
                                #20

                                @mik said in Here we go:

                                So you wish to enslave the successful.

                                Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.

                                CopperC 1 Reply Last reply
                                • AxtremusA Axtremus

                                  @mik said in Here we go:

                                  So you wish to enslave the successful.

                                  Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.

                                  CopperC Offline
                                  CopperC Offline
                                  Copper
                                  wrote on last edited by
                                  #21

                                  @axtremus said in Here we go:

                                  @mik said in Here we go:

                                  So you wish to enslave the successful.

                                  Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.

                                  It is not the government's job to plan anyone's life

                                  It is, in fact, none of their business

                                  And none of yours either

                                  AxtremusA 1 Reply Last reply
                                  • CopperC Copper

                                    @axtremus said in Here we go:

                                    @mik said in Here we go:

                                    So you wish to enslave the successful.

                                    Just to discourage sloth by wealth beyond certain threshold. Don't forget the estate tax part of it -- you get to have a leg up for having rich parents, just not exempt from having to work to build further wealth or maintain your inherited wealth beyond certain threshold.

                                    It is not the government's job to plan anyone's life

                                    It is, in fact, none of their business

                                    And none of yours either

                                    AxtremusA Away
                                    AxtremusA Away
                                    Axtremus
                                    wrote on last edited by
                                    #22

                                    @copper said in Here we go:

                                    It is not the government's job to plan anyone's life

                                    A non sequitur for the topic at hand. No one here says it's the government's job to plan anyone's life.

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