Should there be a cap on attainable wealth?

Should there be a cap on attainable wealth?

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Mr Neutron

Mr Neutron

Well-Known Member
NLXSK1 said:
Actually, history tells us something quite different. If you go back and look at what I posted, the listed highest tax rate was 94% in 1944-45 but so much income was not taxable that the actual rate on the highest earners was 40%....

The higher the taxes the more people hide income to evade paying it.
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Tax evasion is illegal, tax avoidance is not.
 
Doer

Doer

Well-Known Member
Fungus Gnat said:
History tells us that's not true. At tax rates as high as 91% for highest earners people just didn't stop working. CEO's used to make ten times the salary as the average worker and business did great, now they made hundreds if not thousands of times the salary their workers do.
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Why did we lower the tax rate? To get more growth. Growth leads to more people pay more taxes as well as huge jumps in consumer confidence and spending. Every boat rises in the Tide. We lowered these rates because, at that time we saw the problem. The growth was stallling, like it is now.

So, having high tax doesn't work. It leads to shirking economy and shrinking wealth creation. You can say it worked, but it didn't. We changed it and had prosperity under both parties' Presidents.

So, who is trying to go back, while claiming the other side is backwards?
 
B

beenthere

New Member
Carne Seca said:
For beenthere and NLXSK1 - God may be no respecter of persons but I can honestly say you both aren't fit to wipe Cannabineer's ass let alone judge him. All you are doing is showing the immature trolling pieces of shit you truly are. It's pathetic and sad.
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LOL I never said one word about cannabineer, go ahead look back at all the posts and see for yourself.

Dude, lets see you back up your big mouth or I am I going to get another excuse why you don't want to, like I did from your righteous buddy cannabineer?
 
Doer

Doer

Well-Known Member
Mr Neutron said:
They are all under federal regulations and guidelines, else they get no money.
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Giggle, Poke...yeah, guidelines. The problem folks, is not our elected officials or the Laws they make. It is the Regs they leave behind like rotting garbage. A system of arbitrary implementation of hidden stupid LAWS and HealthCare value TAXES, is not the rule of Law

It is the rule of bully for the seriously dumb and purposely made dumber, America. If you every interface with Federal Employees it is clear to them, at least, Govt Animals are much more equal than Civilian Animals on this Farm.
 
Mr Neutron

Mr Neutron

Well-Known Member
Doer said:
Giggle, Poke...yeah, guidelines. The problem folks, is not our elected officials or the Laws they make. It is the Regs they leave behind like rotting garbage. A system of arbitrary implementation of hidden stupid LAWS and HealthCare value TAXES, is not the rule of Law

It is the rule of bully for the seriously dumb and purposely made dumber, America. If you every interface with Federal Employees it is clear to them, at least, Govt Animals are much more equal than Civilian Animals on this Farm.
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Hence Pelosi'd statement: "We have to pass it, to know what's in it".
 
NLXSK1

NLXSK1

Well-Known Member
Doer said:
Giggle, Poke...yeah, guidelines. The problem folks, is not our elected officials or the Laws they make. It is the Regs they leave behind like rotting garbage. A system of arbitrary implementation of hidden stupid LAWS and HealthCare value TAXES, is not the rule of Law

It is the rule of bully for the seriously dumb and purposely made dumber, America. If you every interface with Federal Employees it is clear to them, at least, Govt Animals are much more equal than Civilian Animals on this Farm.
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Which is why no president is ever going to get serious tax reform

The tax code is how the politicians make deals and get re-elected.
 
Doer

Doer

Well-Known Member
NLXSK1 said:
Which is why no president is ever going to get serious tax reform

The tax code is how the politicians make deals and get re-elected.
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That is so true. +1. When Herman Cane started talking about his
9-9-9 Plan, I tuned out. No way.
 
canndo

canndo

Well-Known Member
Harrekin said:
You don't even get the concept at all, if there are more people claiming from a pot with less people paying in or only people who genuinely need it with all able bodied people paying in.

Which pot do you think splits more favourably for the people who genuinely need it? The one with lazy cheese eaters or the one specifically to help the needy?
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There is a diminishing return to eliminating the cheese eaters. At a certain point it costs more money to root the cheaters out then it would cost to simply keep them in and still be able to offer the most help to the most of those who genuinely need that help.

Your premise however is still based upon the rich leaving the country and taking their financial support with them. I contend this doesn't happen nearly as much as the right claims.
 
Mr Neutron

Mr Neutron

Well-Known Member
NLXSK1 said:
Which is why no president is ever going to get serious tax reform

The tax code is how the politicians make deals and get re-elected.
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"The tax code is a complicated mess. You realize, it's a million pages long."
GWB

Seriously, I looked for some quotes on it but all I could find were quotes from republicans. Knowing the fanatical hatred for the dreaded "r" word, I specifically searched for "democrat quotes irs" and the only thing that came back, that was from a democrat, was:

The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy. JFK
Read more at http://www.brainyquote.com/quotes/keywords/tax.html#6JYgVRfXtwdtO5qm.99

... and some of Obama's campaign promises.
 
Mr Neutron

Mr Neutron

Well-Known Member
canndo said:
There is a diminishing return to eliminating the cheese eaters. At a certain point it costs more money to root the cheaters out then it would cost to simply keep them in and still be able to offer the most help to the most of those who genuinely need that help.
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So, while the lying bitch is out spending YOUR money and whoring around with every swing dick in town, it's cheaper to keep her?
 
canndo

canndo

Well-Known Member
beenthere said:
Merriam Webster defines common sense as having sound and prudent judgment based on a simple perception of the situation or facts. Perhaps sound and prudent judgment escapes government bureaucrats as well as you.

BTW, counterintuitive is one word, being it's a bit of work to understand, I thought it might help!
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And the word "simple" tells us all we need to know about common sense. So far as my spelling is concerned, if you would rather discuss spelling than logic, be my guest.
 
canndo

canndo

Well-Known Member
beenthere said:
This is the second time I've seen you make this claim, so this will be the second time I'll ask you to back it up with some facts. You avoided the question the last time i asked.
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Let me know what measure you expect here and I will do my best to comply. GDP? Employment? Exports?
 
B

beenthere

New Member
canndo said:
Let me know what measure you expect here and I will do my best to comply. GDP? Employment? Exports?
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Great, even though you claimed America did well under a 90% tax rate, show us some data where the wealthy paid an effective tax rate higher than say + 50%. Graphs depicting marginal rates don't count son. Back it up with some data showing federal tax receipts as a per percentage of GDP.
 
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