Gormy Cuss
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Sun Oct-07-07 10:31 PM
Response to Reply #90 |
| 97. Yeah, but you and I would be willing to pay the 90% rate on 5M plus |
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Edited on Sun Oct-07-07 10:32 PM by Gormy Cuss
unlike the poster who claimed it would be a disincentive to working.
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| -What's wrong with taxing 90% of income over let's say $5 million |
Herman Munster |
Oct-06-07 05:31 PM |
#0 |
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Um, because they can't invest that money and grow the economy? |
originalpckelly |
Oct-06-07 05:34 PM |
#1 |
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The United States economic model is not sustainable |
wuushew |
Oct-06-07 06:02 PM |
#11 |
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Our current system is not capitalism, and therefore I agree. |
originalpckelly |
Oct-06-07 06:18 PM |
#14 |
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Despite my replies to you down thread |
davekriss |
Oct-06-07 06:44 PM |
#24 |
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If you look at the debt balloon... |
davekriss |
Oct-06-07 06:03 PM |
#12 |
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And what do you think they're going to do... |
krispos42 |
Oct-06-07 06:26 PM |
#17 |
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They grew it in India, China and Dubai |
sandnsea |
Oct-06-07 07:14 PM |
#32 |
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That's a red herring.... |
sutz12 |
Oct-07-07 01:11 AM |
#36 |
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Actually, that's not what I'm saying. If you tax income like that... |
originalpckelly |
Oct-07-07 08:48 AM |
#51 |
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income like that is NOT "real income from working"... |
QuestionAll |
Oct-07-07 09:47 AM |
#54 |
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Yea, there were hardly any businesses between 1952 and 1963 |
gtar100 |
Oct-07-07 02:22 AM |
#44 |
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Wow!!! gtar100!!! Well stated!!!! Bravo!!! |
sicksicksick_N_tired |
Oct-09-07 10:22 AM |
#132 |
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Nothing. n/t |
tsuki |
Oct-07-07 08:29 AM |
#49 |
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Um, governments can also invest money... |
JackRiddler |
Oct-07-07 10:19 AM |
#55 |
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That's how people avoided the marginal tax rates |
thecatburgler |
Oct-07-07 11:55 AM |
#64 |
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This is taxing Income NOT working assets. Stop clouding the issue. |
slampoet |
Oct-07-07 12:06 PM |
#68 |
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And the government would do with this money exactly what? |
scisyhp1 |
Oct-07-07 01:32 PM |
#72 |
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Mostly from folks buying houses and savings accounts |
ProudDad |
Oct-07-07 09:23 PM |
#83 |
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Trying to explain economics to DUers is never going to work, I'm afraid. |
Donald Ian Rankin |
Oct-08-07 08:53 AM |
#109 |
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Not a thing...it should be done...and without delay... |
movonne |
Oct-06-07 05:35 PM |
#2 |
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It Worked Fine Then |
MannyGoldstein |
Oct-06-07 05:36 PM |
#3 |
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Yeah, but the Repubs don't let facts stand in the way of a good story. |
Selatius |
Oct-06-07 06:43 PM |
#23 |
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Not a damn thing |
catmandu57 |
Oct-06-07 05:37 PM |
#4 |
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I don't have a problem with high tax rates on |
cali |
Oct-06-07 05:43 PM |
#5 |
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We had this argument before |
catmandu57 |
Oct-06-07 06:25 PM |
#16 |
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The Brits once had a 105% effective tax on dividends over something like a million pounds - I liked |
papau |
Oct-06-07 05:44 PM |
#6 |
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I'd make it 120% now -- inflation (n/t) |
ProudDad |
Oct-07-07 09:28 PM |
#84 |
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Same thing that is wrong with taxing income above $40,000 at 92% |
RGBolen |
Oct-06-07 05:48 PM |
#7 |
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The top ever marginal FIT was... |
davekriss |
Oct-06-07 06:18 PM |
#15 |
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And nobody paid it. As long as their lawyers are smarter than our |
Egalitariat |
Oct-09-07 10:50 AM |
#133 |
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Golly. It sure did remove the incentive to get rich, didn't it? |
TahitiNut |
Oct-07-07 01:27 AM |
#38 |
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that is wrong, should be 95%. |
scarface2004 |
Oct-06-07 05:52 PM |
#8 |
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Has it ever occured to you that someone might deserve money... |
originalpckelly |
Oct-06-07 05:54 PM |
#9 |
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Sure |
davekriss |
Oct-06-07 06:36 PM |
#20 |
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Eh, but you run up against the question of individual desires vs. society's needs. |
Selatius |
Oct-06-07 06:40 PM |
#21 |
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They don't invent things and get rich in a vacuum. |
MilesColtrane |
Oct-06-07 07:17 PM |
#33 |
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Sure... |
JackRiddler |
Oct-07-07 10:22 AM |
#57 |
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Very few wealthy people are inventors or entrepreneurs |
thecatburgler |
Oct-07-07 11:58 AM |
#67 |
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Bullshit!!! |
ProudDad |
Oct-07-07 09:30 PM |
#85 |
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As someone who worked my ass off to get rich... |
mainer |
Oct-08-07 08:57 AM |
#111 |
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This is sarcasm, right? n/t |
cali |
Oct-06-07 05:56 PM |
#10 |
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Nothing is wrong with it. |
Kurt_and_Hunter |
Oct-06-07 06:10 PM |
#13 |
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That just seems so wrong --- that proportion. |
aikoaiko |
Oct-06-07 06:28 PM |
#18 |
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The lions share of that income is unearned income. |
Blue Fire |
Oct-07-07 12:37 PM |
#70 |
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It's anti-business, and America is all about business and materialism. |
Selatius |
Oct-06-07 06:34 PM |
#19 |
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Since you picture Chomsky as your avatar |
davekriss |
Oct-06-07 06:42 PM |
#22 |
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I should've included the sarcasm tag. |
Selatius |
Oct-06-07 06:45 PM |
#25 |
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Understood |
davekriss |
Oct-06-07 06:57 PM |
#26 |
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Ain't gonna get ANY of this |
ProudDad |
Oct-07-07 09:33 PM |
#86 |
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You might be right |
davekriss |
Oct-07-07 11:07 PM |
#100 |
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One of the criticisms I've seen about FDR's rates |
SimpleTrend |
Oct-07-07 10:09 PM |
#96 |
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I would go beyond the Clinton rates, but I don't know about 90% |
mvd |
Oct-06-07 07:00 PM |
#27 |
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Remember the old communist block? |
minavasht |
Oct-06-07 07:02 PM |
#28 |
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Their problem is they didn't really practice "communism" |
gtar100 |
Oct-07-07 02:53 AM |
#45 |
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Actually, it would be great. |
bemildred |
Oct-06-07 07:05 PM |
#29 |
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So if I worked incredibly hard |
BoneDaddy |
Oct-07-07 03:51 AM |
#47 |
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If you worked incredibly hard for your money you would be a working stiff. |
bemildred |
Oct-07-07 08:46 AM |
#50 |
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I am not sure what you are saying |
BoneDaddy |
Oct-08-07 04:32 AM |
#106 |
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That would be your MARGINAL tax rate -- you would not be paying nearly as much on your first $5 |
kath |
Oct-09-07 10:03 AM |
#129 |
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We need a flat federal tax |
krispos42 |
Oct-06-07 07:11 PM |
#30 |
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Any different for dividends or capital gains? Or just earned income? |
TahitiNut |
Oct-07-07 01:30 AM |
#40 |
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The flat tax |
ProudDad |
Oct-07-07 09:35 PM |
#87 |
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In war time, nothing |
sandnsea |
Oct-06-07 07:13 PM |
#31 |
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See, I wouldn't be a HUGE taxer for many people |
mvd |
Oct-06-07 07:17 PM |
#34 |
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I would stop working when I reached $4,999,999.99 |
StudentLoanSlave |
Oct-07-07 12:51 AM |
#35 |
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Funny thing... nobody did that. The incentive remained. |
TahitiNut |
Oct-07-07 01:28 AM |
#39 |
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What incentive? |
StudentLoanSlave |
Oct-07-07 11:10 AM |
#58 |
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When your income is that high, it's ten times as easy to earn each additional dollar ... |
TahitiNut |
Oct-07-07 11:24 AM |
#60 |
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You're on the don't-have-a-clue-train my friend |
StudentLoanSlave |
Oct-07-07 11:35 AM |
#61 |
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Reading with comprehension is an essential skill. |
TahitiNut |
Oct-07-07 11:51 AM |
#63 |
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Uhhhhhh.....WHAT?!! n/t |
StudentLoanSlave |
Oct-07-07 11:56 AM |
#65 |
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That's OK, you neednot worry |
davekriss |
Oct-07-07 08:59 PM |
#80 |
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People enter that world all the time... without silver spoons |
mainer |
Oct-08-07 09:07 AM |
#113 |
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Your social circle is not represenative |
wuushew |
Oct-08-07 11:00 AM |
#120 |
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People do NOT enter that world "all the time" |
davekriss |
Oct-08-07 07:57 PM |
#124 |
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So since other marginal tax rates would inevitably be part of such a plan |
Gormy Cuss |
Oct-07-07 09:21 PM |
#82 |
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Sounds pretty damn good to me (n/t) |
ProudDad |
Oct-07-07 09:42 PM |
#90 |
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Yeah, but you and I would be willing to pay the 90% rate on 5M plus |
Gormy Cuss |
Oct-07-07 10:31 PM |
#97 |
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The same freakin' incentive folks had in the 50s and 60s |
ProudDad |
Oct-07-07 09:40 PM |
#89 |
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So would I. You'd be crazy to keep working. |
mainer |
Oct-08-07 08:58 AM |
#112 |
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No, but I do favor high marginal tax rates, if that's what you mean. |
Starbucks Anarchist |
Oct-07-07 01:21 AM |
#37 |
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My accountant |
lancer78 |
Oct-07-07 01:42 AM |
#41 |
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90% marginal tax rate is different. |
Starbucks Anarchist |
Oct-07-07 02:07 AM |
#43 |
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I would support a 90% death tax above that figure... |
JCMach1 |
Oct-07-07 02:04 AM |
#42 |
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What the hell is a death tax? |
eShirl |
Oct-08-07 02:30 PM |
#123 |
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Call it what it is - an ESTATE tax. |
kath |
Oct-09-07 10:08 AM |
#130 |
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What's wrong? |
BoneDaddy |
Oct-07-07 03:48 AM |
#46 |
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It would discourage looting by the rich from the masses & is therefore unamerican. |
Vidar |
Oct-07-07 08:08 AM |
#48 |
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I'd rather see them eliminte the cap on FICA |
dansolo |
Oct-07-07 08:57 AM |
#52 |
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And make it progressive, i.e. increase the rates for higher incomes. |
bemildred |
Oct-07-07 09:39 AM |
#53 |
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What's wrong with zero percent income tax on anything up to $100,000 |
JackRiddler |
Oct-07-07 10:21 AM |
#56 |
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That's an interesting proposition. |
LWolf |
Oct-07-07 12:41 PM |
#71 |
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You'd be paying taxes |
JackRiddler |
Oct-07-07 03:30 PM |
#74 |
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THIS I like. |
LWolf |
Oct-07-07 03:54 PM |
#76 |
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Unfortunately... |
JackRiddler |
Oct-07-07 06:53 PM |
#77 |
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Thanks for the rec; I'll add it to my list. n/t |
LWolf |
Oct-07-07 08:41 PM |
#78 |
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I got no problem with that |
ProudDad |
Oct-07-07 09:45 PM |
#91 |
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Whats wrong |
Thothmes |
Oct-08-07 08:37 AM |
#107 |
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What's wrong with it is that you didn't get it. |
JackRiddler |
Oct-09-07 12:01 AM |
#125 |
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I now see you point. Thank you. |
Thothmes |
Oct-09-07 09:24 AM |
#126 |
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Because all the rich folks would move to Ireland |
AngryAmish |
Oct-07-07 11:13 AM |
#59 |
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Who needs the FUCKERS -- let 'em leave! |
ProudDad |
Oct-07-07 09:46 PM |
#92 |
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Umm... if everyone who made over $100,000 emigrated... |
mainer |
Oct-08-07 08:54 AM |
#110 |
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why is there any notion that people taxed at that rate still wouldn't be very rich? |
xchrom |
Oct-07-07 11:48 AM |
#62 |
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Fine with me. NT |
Eric J in MN |
Oct-07-07 11:58 AM |
#66 |
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What's wrong is that the percentage isn't high enough |
DavidD |
Oct-07-07 12:35 PM |
#69 |
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When you make over 5 million, the money just ceases to be useful |
Evoman |
Oct-07-07 02:29 PM |
#73 |
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because those who make over $5 million will send someone to squish your head? |
yurbud |
Oct-07-07 03:32 PM |
#75 |
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BUUUUULLLLLSSSHHHHIIIITTT -- NO ONE EVER PAID 90% IN TAXES |
Rosemary2205 |
Oct-07-07 08:47 PM |
#79 |
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Your right. Most wealthy people had things like real estate partnerships that they invested in. |
Mountainman |
Oct-07-07 09:00 PM |
#81 |
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Until 86 you could even have tax credit programs |
Yupster |
Oct-07-07 11:48 PM |
#101 |
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And no one ever paid 90% because it was a MARGINAL rate. |
kath |
Oct-09-07 10:09 AM |
#131 |
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If I knew that the tax rate on 5 million was 90 percent. |
TheUniverse |
Oct-07-07 09:37 PM |
#88 |
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And you're going to start making 5,000,000 per year |
ProudDad |
Oct-07-07 09:47 PM |
#93 |
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If Im lucky when Im 60 |
TheUniverse |
Oct-07-07 09:53 PM |
#94 |
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That's capital gains |
ProudDad |
Oct-08-07 02:17 AM |
#103 |
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Better -- kick the corp tax rate back up to 47% |
wtmusic |
Oct-07-07 09:53 PM |
#95 |
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I like the way you think! |
debbierlus |
Oct-08-07 09:17 AM |
#116 |
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Several Reasons |
maui9002 |
Oct-07-07 10:35 PM |
#98 |
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best answers ever! |
mainer |
Oct-08-07 08:50 AM |
#108 |
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And, we currently do not have a government that would distribute the wealth for the greater good |
debbierlus |
Oct-08-07 09:20 AM |
#117 |
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One of the flaws seems to be stepping higher / lower rates. |
SimpleTrend |
Oct-07-07 11:04 PM |
#99 |
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That's not a bad idea |
ProudDad |
Oct-08-07 02:21 AM |
#104 |
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as someone who lives on $14K/yr... absolutely nothing. |
kineneb |
Oct-08-07 12:30 AM |
#102 |
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Or as Jim Hightower said |
ProudDad |
Oct-08-07 02:22 AM |
#105 |
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That is a bit ridiculous |
debbierlus |
Oct-08-07 09:14 AM |
#114 |
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$5 million isn't worth $5 million any more |
slackmaster |
Oct-08-07 09:16 AM |
#115 |
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You NEED to check this out |
ProudDad |
Oct-08-07 01:55 PM |
#121 |
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Shoot to finx the system 90% isnt needed |
comtec |
Oct-08-07 10:10 AM |
#118 |
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Nobody Paid That |
ProfessorGAC |
Oct-08-07 10:28 AM |
#119 |
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This obscenity MUST be ended!!! |
ProudDad |
Oct-08-07 01:57 PM |
#122 |
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make it 100% over $1 million |
leftofthedial |
Oct-09-07 09:28 AM |
#127 |
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Unfortunately, the guys who could make it happen are millionaires. |
Tierra_y_Libertad |
Oct-09-07 09:29 AM |
#128 |
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