Taxes and failed predictions, a lesson for class warriors

[Ausm]

I'm not sure how the Rich made it before the Bush tax cuts...life must been hell for them

 

[dmcowen674]

I'm not sure how the Rich made it before the Bush tax cuts...life must been hell for them

You would think the way they are whining.

 

[GreenMeters]

The real lesson is that the real class warriors--the Republicans--have no idea what they're talking about. That Telegraph article has already been completely debunked:

http://www.taxresearch.org.uk/Blog/...-away-because-of-50p-tax-is-completely-bogus/

There was a one-time reduction in revenue as income was forestalled in to the lower tax rate. That's not something that can be done going forward.

 

[Moonbeam]

The Republican rich believe in personal responsibility, but have only the problem that they don't know what it is, a situation that is easily remedied, however, by law. All that is required for the rich to understand their obligations to the nation is to make tax fraud a capital offense. Save your capital and you're caput, would make a nice IRS slogan to drive the point.

 

[Munky]

Drivel. Taxes on the Rich were much higher pre-Reagan, but they still invested, still put in the effort to make more money.

Few suggest raising their taxes to those rates, let alone UK rates, or that higher taxes will solve all problems.

How much higher were they, and how were they being spent? Maybe back then the taxes weren't being spent on perpetual welfare queens and womyns power grabbing?

But are you certain that all of the taxation is robbery? If we were to "check our premises", could an argument be made, contrary to the "no-think" free market dogmatism that we've been indoctrinated with, that a good portion of the profit has actually been robbed from the workers who engage in the physical act of the wealth production?

Some taxation is necessary to keep the government running and to support the public-funded infrastructure. When taxation becomes a form of wealth redistribution and propping up failed economic ideas, that's quite a different matter.

And then nationalize their bank accounts, even the offshore ones. Time for some real patriotism.

I hope that was sarcasm, otherwise you're really showing your colors here.

 

[momeNt]

Our current President has gone on record saying that increasing taxes on the wealthy isn't necessarily about revenue gain or loss, it's an issue of fairness.

2008 presidential debates. It did not come up in this election AFAIK, not sure if he would have changed his tune but last election he merely accepted the statistic as fact and offered the fairness argument.

 

[momeNt]

How much higher were they, and how were they being spent? Maybe back then the taxes weren't being spent on perpetual welfare queens and womyns power grabbing?



Some taxation is necessary to keep the government running and to support the public-funded infrastructure. When taxation becomes a form of wealth redistribution and propping up failed economic ideas, that's quite a different matter.


I hope that was sarcasm, otherwise you're really showing your colors here.

Technically speaking, the only reason taxation is necessary in fiat currency is to create demand for the fiat money. If the government could convince the people to still use fiat money even if there were no taxes and it was constantly depreciating it could get away with "no taxes".

 

[Atreus21]

I can't get over the nerve of some people who are so arrogant as to want to keep their own money. I mean GOD how can they be so selfish?

 

[GreenMeters]

I can't get over the nerve of some people who are so arrogant as to want to keep their own money. I mean GOD how can they be so selfish?

Everyone is allowed to keep their own money. However, just as if you go into a restaurant and eat a meal you have to pay the bill, there's a price, set by We The People, for taking advantage of citizenship in the United States. We're not forcing you to be here, but you aren't allowed to stiff us on the bill.

 

[Darwin333]

And then nationalize their bank accounts, even the offshore ones. Time for some real patriotism.

How do you force a foreign company in a foreign nation, if they are not operating at all within your borders, to do such a thing? I mean, there is always invasion but I am not sure if that would be cost effective.

BTW, the correct term you were looking for is "confiscate".

 

[Moonbeam]

I can't get over the nerve of some people who are so arrogant as to want to keep their own money. I mean GOD how can they be so selfish?

Think of it like half of the bell curve. You create a society with certain rules of competition. Those rules predetermine who will win on average. You then go to the winners to extract the funds to enforce the rules by which they are predetermined to win. Otherwise we can just change the rules so that competition is based on something totally different. Instead of dollars, say, we could make money art. Then a whole bunch of what are now worthless bums would suddenly be the rich. Your problem, of course, is that you can't think. You are simple of outlook. You always defend what is as if it were something real, something you built. You didn't build anything. You are just a ball falling down on different pegs and bounding this way or that. Your money. Hehe What you own is what you can take with you after a shipwreck.

 

[Darwin333]

Nevermind 50%, lets make it 90%, that will test their Patriotism and label as job creators.

Umm, did you not read the results of the 50% rate in the OP?

 

[actuarial]

Umm, did you not read the results of the 50% rate in the OP?

Did you read the article completely debunking it?