Reply #132

In the discussion thread: Taxing wealth is the next logical step [View all]

Thu Jul 12, 2012, 07:35 AM

mainer (6,672 posts)

132. We still get back to the fact that land/a home is NOT income-producing

and offers no stream of money with which the owner can pay taxes.

A good example is fallow farmland or forested land. The only way an owner could make significant money is to cut down the trees and sell the wood, or to sell the land to developers, or to turn it into house lots. Do we really want this to happen? Does every asset a person owns need to be income-producing to pay taxes?

I own farmland, of which only a small part is in orchards/garden plots. It earns no significant income. I pay pretty low taxes on it because it ISN'T developed. I keep it open it to the public for hiking and hunting. I love the fact it's undeveloped and beautiful. I don't WANT an incentive to screw up that land and turn it into a subdivision.

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135 replies	Author	Time	Post
Taxing wealth is the next logical step [View all]	NNN0LHI	Jul 2012	OP
Yes, yes, yes and hells yes.	Taverner	Jul 2012	#1
As if the bought off whores in congress do logic.	MrSlayer	Jul 2012	#2
Extremely obvious. Shows how bought are government and institutions are as a society. nt	PufPuf23	Jul 2012	#3
You realize that most wealth isn't in the form of cash, right?	TBMASE	Jul 2012	#4
Then let's take homes and other assets...	Comrade_McKenzie	Jul 2012	#5
and sell them to whom and for how much?	TBMASE	Jul 2012	#8
Then tax it BIG TIME as it moves overseas.	Zalatix	Jul 2012	#57
Houses and Real Property don't go overseas	TBMASE	Jul 2012	#70
Actually it is in cash rather than homes or other assets as you suggest	NNN0LHI	Jul 2012	#6
So you want to take cash from businesses	TBMASE	Jul 2012	#7
Businesses can either invest it themselves hiring workers or the government will tax them and do it	NNN0LHI	Jul 2012	#9
so to hell with their need to pay existing workers	TBMASE	Jul 2012	#10
This message was self-deleted by its author	HangOnKids	Jul 2012	#11
Because I know why corporations keep cash?	TBMASE	Jul 2012	#12
Raising the corporate tax rate even by a substantial amount would	coalition_unwilling	Jul 2012	#16
Did you read the OP?	TBMASE	Jul 2012	#17
The very first word of the OP is 'taxing'. I'm saying that	coalition_unwilling	Jul 2012	#23
He says tax, then follows up with Use or Lose	TBMASE	Jul 2012	#24
That's just verbiage for a 'wealth tax' (or a 'tax on savings'). The idea	coalition_unwilling	Jul 2012	#27
and the seizure of said property?	TBMASE	Jul 2012	#28
Money is property	Blanks	Jul 2012	#51
Taking of real property where the owner is compensated	TBMASE	Jul 2012	#67
There's nothing in the OP to indicate it would all be 'seized'	muriel_volestrangler	Jul 2012	#65
Use or Lose isn't seizure?	TBMASE	Jul 2012	#68
No, it's a slogan	muriel_volestrangler	Jul 2012	#74
It's not seizure?	TBMASE	Jul 2012	#77
Print up gold coins.	Blanks	Jul 2012	#81
I'm sure businesses would jump at the chance	TBMASE	Jul 2012	#83
Probably not a gold coin worth significantly less than what you're taking from them.	Blanks	Jul 2012	#90
It would be legal tender, correct?	TBMASE	Jul 2012	#95
That wasn't my plan.	Blanks	Jul 2012	#108
No, it's not seizure, it's taxation	muriel_volestrangler	Jul 2012	#84
So "Use or Lose" is a slogan	TBMASE	Jul 2012	#85
The rhyme is a clue that it's a slogan	muriel_volestrangler	Jul 2012	#96
Like Use or Lose leave policies, right?	TBMASE	Jul 2012	#110
Wow, that's what the Libertarians say. Fortunately history doesn't support you.	Zalatix	Jul 2012	#58
Tax Cash that was already taxed?	TBMASE	Jul 2012	#71
It's a small matter...	awoke_in_2003	Jul 2012	#13
SNARF	HangOnKids	Jul 2012	#14
This message was self-deleted by its author	mainer	Jul 2012	#88
You should probably go work for Romney	Kingofalldems	Jul 2012	#19
Why?	TBMASE	Jul 2012	#25
If you have a Billion in cash in the bank, you're not "relying on receivables"...	lastlib	Jul 2012	#30
Ummm, that's what I said. You save the cash so you don't have to rely on receivables	TBMASE	Jul 2012	#45
Release the money!	ErikJ	Jul 2012	#35
Profits aren't cash	TBMASE	Jul 2012	#46
Would this mound of money they are sitting on be considered hording?	Waltons_Mtn	Jul 2012	#104
Now that's an interesting thought...........	socialist_n_TN	Jul 2012	#124
Tax all inheritances above $5 million at 100%. Tax all transfers of money out of the country at 200%	AnotherMcIntosh	Jul 2012	#15
And let's tax the hell out of religious organizations while we're at it.	Initech	Jul 2012	#20
Make it all non-profits.	Igel	Jul 2012	#38
That's not the same thing at all.	Initech	Jul 2012	#40
Yawn. nt	Lucky Luciano	Jul 2012	#32
This message was self-deleted by its author	HangOnKids	Jul 2012	#44
Thought it was sufficient commentary on the absurd. nt	Lucky Luciano	Jul 2012	#53
don't some European countries try to do this already	Johonny	Jul 2012	#18
Yes, some:	muriel_volestrangler	Jul 2012	#21
Taxing 1.3 million Euros in wealth would completely gut a lot of retirements	mainer	Jul 2012	#50
I'm not exactly sure how they tax pension funds	muriel_volestrangler	Jul 2012	#64
Agreed.	Junkdrawer	Jul 2012	#22
k&r	Starry Messenger	Jul 2012	#26
I like it.	lastlib	Jul 2012	#29
There is too much liquidity at the top = asset price inflation	on point	Jul 2012	#31
Why wouldn't this just accelerate the flight of corporations to China?	Flatulo	Jul 2012	#33
If they want to go, they should go - but without the protection of the U.S. laws.	AnotherMcIntosh	Jul 2012	#34
That's what's bizarre about companies moving there - their IP is	Flatulo	Jul 2012	#36
And then we should also slap HUGE tariffs on China, too.	Zalatix	Jul 2012	#59
+ >9000!	Abra	Jul 2012	#37
More dictatorship of the proletariat.	Igel	Jul 2012	#39
Maybe	PETRUS	Jul 2012	#80
No, it's called social democracy, and it works pretty damn well Canada and Western Europe	Hippo_Tron	Jul 2012	#128
I am against a wealth tax, per se. But our progressive tax system is a wealth tax, to some degree.	Honeycombe8	Jul 2012	#41
This message was self-deleted by its author	HangOnKids	Jul 2012	#43
It's quite obvious you have no idea what cash actually is	TBMASE	Jul 2012	#47
This, again? Everything is taxable. Property taxes, taxes on capital gains,	Zalatix	Jul 2012	#60
The Federal Government does not have a property tax	TBMASE	Jul 2012	#69
Doesn't mean there can't be a Federal property tax.	Zalatix	Jul 2012	#73
They are taxed on the interest	TBMASE	Jul 2012	#78
This message was self-deleted by its author	HangOnKids	Jul 2012	#102
Whatever you think I might be	TBMASE	Jul 2012	#109
This message was self-deleted by its author	HangOnKids	Jul 2012	#111
You CAN'T debate the topic because you have no clue	TBMASE	Jul 2012	#114
Actually, HangOnKids and others here have debunked your arguments repeatedly.	Zalatix	Jul 2012	#131
HangOnKids has already got me on Ignore	mainer	Jul 2012	#112
That's my opinion as well	TBMASE	Jul 2012	#113
I disagree	Prophet 451	Jul 2012	#42
Our choices are limited.	kentuck	Jul 2012	#48
What's your definition of wealth?	mainer	Jul 2012	#49
Someone with more than me is wealthy.	cherokeeprogressive	Jul 2012	#55
This message was self-deleted by its author	HangOnKids	Jul 2012	#103
I'm not a dude. I am close to retirement. And it's true.	mainer	Jul 2012	#105
This message was self-deleted by its author	HangOnKids	Jul 2012	#106
It's not shit. It's my family.	mainer	Jul 2012	#107
This post was hidden by jury decision.	TBMASE	Jul 2012	#116
Wow, so it's OK to say someone's full of shit and should get lost...	mainer	Jul 2012	#118
This message was self-deleted by its author	HangOnKids	Jul 2012	#130
I guess you've never heard of a 401K or IRA	TBMASE	Jul 2012	#115
The best thing my lawyer ever told me: true wealth is having no debt	mainer	Jul 2012	#119
couple this with a repeal of the income tax and you've got a capitalist economist's wet dream	unblock	Jul 2012	#52
A flat tax on wealth of 2% per year will raise $1 trillion, and solve our budget problems.	reformist2	Jul 2012	#54
Don has a great idea here! The FIRST step would be for people to stop putting 1%ers in Congress.	slackmaster	Jul 2012	#56
A wealth tax is a taking. If you want that then you have to change the Constitution.	AngryAmish	Jul 2012	#61
I can see a special tax on the Olive Garden	slackmaster	Jul 2012	#63
Why is it more of a 'taking' than a property tax?	muriel_volestrangler	Jul 2012	#66
You are not taking a piece of property when you tax it	AngryAmish	Jul 2012	#72
And you are not taking wealth when you tax it	muriel_volestrangler	Jul 2012	#75
And if you're 75 and you happen to own a million-dollar house...	mainer	Jul 2012	#94
Same way as you do with property tax already	muriel_volestrangler	Jul 2012	#99
Ah, so you're OK with kicking the elderly out of their family homes	mainer	Jul 2012	#100
Easy fix - $100K per person wealth exemption.	reformist2	Jul 2012	#117
I'm not a MISTER. I'm a 60 year old female	mainer	Jul 2012	#120
Property taxes are used to finance vital government services, not general wealth redistribution	slackmaster	Jul 2012	#76
This would be used to finance vital government services too	muriel_volestrangler	Jul 2012	#82
Constitutional Amendment after a Revolution....	Junkdrawer	Jul 2012	#86
That was the logic we used to follow. Until Reagan and Trickle Down Economics.	Overseas	Jul 2012	#62
Hire new workers to do what? Why would a business owner hire new workers if he didn't need them?	SlimJimmy	Jul 2012	#79
My plant used to hire 200 new workers in one day	NNN0LHI	Jul 2012	#87
So, your company hired and paid new workers they didn't need just so they could go out and purchase	SlimJimmy	Jul 2012	#101
Why this thread scares me	mainer	Jul 2012	#89
If anything, taxing wealth is preferable to taxing income.	reformist2	Jul 2012	#91
I'd rather my income be taxed than my wealth	mainer	Jul 2012	#92
Serious proposals	PETRUS	Jul 2012	#97
If taxation is less than typical returns on investment, okay	mainer	Jul 2012	#98
"Taxing WEALTH ... is the most radical idea I can think of short of armed revolution"....	Junkdrawer	Jul 2012	#93
These are the threads that make me wonder: who ARE the people on DU?	mainer	Jul 2012	#121
I am going to explain this concisely	NNN0LHI	Jul 2012	#122
We agree on that -- property tax is a form of wealth tax	mainer	Jul 2012	#125
Happy we found some agreement here	NNN0LHI	Jul 2012	#126
What if the first $10 million is exempt?	PETRUS	Jul 2012	#129
We still get back to the fact that land/a home is NOT income-producing	mainer	Jul 2012	#132
Land is probably the thing that should be taxed more than anything else.	reformist2	Jul 2012	#133
Right	PETRUS	Jul 2012	#135
Maybe it is best if ownership of money is made illegal. eom	yawnmaster	Jul 2012	#123
Outstanding idea.	limpyhobbler	Jul 2012	#127
not happening. who will do the taxing when the potential taxees own and fund the potential taxors?	HiPointDem	Jul 2012	#134

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