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Should we tax excessive wealth, and if so how much?

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ShintaiDK

Lifer
Apr 22, 2012
20,395
128
106
I think you will find that houses in the USA are quite a bit larger on average. I have always thought that homes that use more electricity should have to pay a higher price for what they use. However, this can be misleading. Some newer homes that larger sometimes use less electricity than older houses that are smaller. This is due to more modern construction techniques.
Its 2 fold. Housing insulation is one big issue. Outdated or inefficient appliances the second.
 

DCal430

Diamond Member
Feb 12, 2011
6,021
9
81
This is among the most stupid of ideas I've ever seen... and that, my friends, is saying something.

Wealth is not something to be taxed. The tax system is not a good or proper tool to fight the "problem" of wealth inequality.
Do you know how the rich get wealthy, they manipulate and steal from those poorer then them. Why shouldn't we take it back. FACT 99% of the wealthy get get wealthy by trampling over the poor.
 

zsdersw

Lifer
Oct 29, 2003
10,560
1
0
Do you know how the rich get wealthy, they manipulate and steal from those poorer then them. Why shouldn't we take it back. FACT 99% of the wealthy get get wealthy by trampling over the poor.
"We" take it back? Who, exactly, is "we"? Government? Government is bought and paid for by the wealthy, so how does it benefit "everyone else" by the government taking more money from the wealthy that will eventually end up back in the hands of the wealthy anyway?

The supply side of the economy (the wealthy) is only truly impacted by the demand side (consumers; the non-wealthy). Organized and coordinated consumers are more of a threat to the wealth of the elite than any government act or any tax initiative. Of course, the tough part is getting consumers to be organized and coordinated.. as many of them are lazy and/or apathetic. Unconstitutional and just, plainly, wrong government action is no substitute for or cure of lazy/apathetic consumers, however.
 
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piasabird

Lifer
Feb 6, 2002
17,183
60
91
One issue I see is that some companies and corporations often get a tax abatement. So what happens is the home owners have to have higher taxes to make up for that tax abatement. So what has happened is these big corporations shop around to get a tax abatement that gives them the biggest deal on their taxes. So to correct this poor judgement and to create a more even handed business environment the Fed Govt should force employers to calculate the savings in tax revenues and then count that as income as payment-in-kind on their federal taxes.

I also think that we need to do away with business expense deductions. Why should a business steal my tax money? If they cant make ends meet by running a business, maybe they should not be in business.

The same goes for the green energy credits people get for solar wind and electric automobiles. If they can not make an electric car that is economical to own, then why should they get $8,000 in hard earned tax money to subsidize a vehicle manufacturer? No more green money.
 
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momeNt

Diamond Member
Jan 26, 2011
9,299
350
126
We should. We don't have a constitutional means yet.

We started the USA as a grouping of individuals, but we are now a living breathing society where the whole matters far more than the group. The extremely wealthy are a disgusting reminder of the individualism that we need to move past. Wealth taxation is an important step in the right direction towards a prosperous society where the WE means more than the I.

Yes we can.
 

BoberFett

Lifer
Oct 9, 1999
37,587
9
81
I also think that we need to do away with business expense deductions. Why should a business steal my tax money? If they cant make ends meet by running a business, maybe they should not be in business.
Please explain further.
 

TerryMathews

Lifer
Oct 9, 1999
11,474
2
0
We should. We don't have a constitutional means yet.

We started the USA as a grouping of individuals, but we are now a living breathing society where the whole matters far more than the group. The extremely wealthy are a disgusting reminder of the individualism that we need to move past. Wealth taxation is an important step in the right direction towards a prosperous society where the WE means more than the I.

Yes we can.
Yes comrade. Preach the truth of the one true God, Karl Marx!

Have you thought of the other things we could do or do away with for the good of the society? The possibilities are endless!

Can I subscribe to your newsletter?
 

momeNt

Diamond Member
Jan 26, 2011
9,299
350
126
Yes comrade. Preach the truth of the one true God, Karl Marx!

Have you thought of the other things we could do or do away with for the good of the society? The possibilities are endless!

Can I subscribe to your newsletter?
I preach only democracy. Let no man call his own what we can take with simply a majority!
 

werepossum

Elite Member
Jul 10, 2006
29,876
460
126
You don't want anyone to retire... A net worth of million dollars or less is really low to retire on especially considering you should only spend 4% per year. My parents are retired; they have a networth around 3 million, live on about 100K/per and would be taxed 100K to 150K per year under your plan...nonsense.

Personally the only tax that needs to be fixed is the capital gains tax, where it should be 90%+ on sub-week gains(kills high-frequency trading, various short term nonsense), income tax rates on up to year (income is income), then slow decrease to <10% at 20 years (encourages true long term investment, stablizing growth).
People like your parents are the backbone of America; their savings are what the rest of us borrow to buy houses. In DCal's America people like your parents would likely move out of the country to enjoy their retirement without being busted down to ward of the state.

I think you will find that houses in the USA are quite a bit larger on average. I have always thought that homes that use more electricity should have to pay a higher price for what they use. However, this can be misleading. Some newer homes that larger sometimes use less electricity than older houses that are smaller. This is due to more modern construction techniques.
This is true, but ShintaiDK has a point in that we allow traditional but outdated construction methods in residential building. There are more modern building methods that cost little or nothing more, yet significantly cut energy usage. All it takes is educating contractors, and much as I dislike constricting freedom on principle, I think we should mandate the most energy efficient construction practical, if only for the reduced CO2 output. The other method, placing high taxes on energy, isn't done to save anyone money, it's done to grab a bunch of loot for government. It works because of the long history among Europeans (and indeed, most of the world) of the individual being disarmed and less than free.
 

TerryMathews

Lifer
Oct 9, 1999
11,474
2
0
I preach only democracy. Let no man call his own what we can take with simply a majority!
First they came for the communists, and I did not speak out because I wasn't a communist...

We have majority rule/minority rights for a reason. Ask any black person. Or any woman. Any Japanese American.

Just because you can get 51% of idiots to agree on something doesn't make it right.
 

werepossum

Elite Member
Jul 10, 2006
29,876
460
126
First they came for the communists, and I did not speak out because I wasn't a communist...

We have majority rule/minority rights for a reason. Ask any black person. Or any woman. Any Japanese American.

Just because you can get 51% of idiots to agree on something doesn't make it right.
Methinks thy sarcasm meter may be busted.
 

momeNt

Diamond Member
Jan 26, 2011
9,299
350
126
First they came for the communists, and I did not speak out because I wasn't a communist...

We have majority rule/minority rights for a reason. Ask any black person. Or any woman. Any Japanese American.

Just because you can get 51% of idiots to agree on something doesn't make it right.
It isn't about what is right, it is about democracy. Do you even follow politics?
 

raildogg

Lifer
Aug 24, 2004
11,904
157
106
Instead of worrying about how much we should tax, we should focus on how much more money we should let people keep. However, that requires government to shrink and some social programs to end. Higher taxes shift money away from people and into the hands of the government. Of course, that is what some people want.
 

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