HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Joe: I can't believe I ha... » Reply #21

Response to soothsayer (Original post)

Sat Apr 3, 2021, 05:42 PM

21. He's right, BUT...

HOW to do it?

I've been calling for MEGA high taxation of the rich for half my life.

It's a given that if the simple "Corporate Tax Rate" is increased, consumer pricing will rise.

That's NOT the point of the tax. It becomes a tax on ALL OF US.

Not to let the Corporations off the hook, though...

Let's take a fresh look.

What IS a Corporation? (For simplicity sake, not entirely accurate) It's a legal business entity whose ownership is divided into millions or billions of tiny pieces called SHARES. These shares are owned by everyone from billionaires to retired school teachers and firemen (as part of their State Retirement Fund)

HOW do you get a Corporation to PAY a tax without the value of each share dropping?

Ever watched the Stock Market? They'll say Tesla got clobbered today, losing over $2B in value.

Did that $2B come out of Mr. Teslas wallet? Of course not (unless you're talking about Elon). The value of each share dropped, became LESS valuable.

So how do we get the money?

When we all say "Let's tax the Corporations" we're REALLY saying TAX THE RICH.

Let me throw this out there...

How about DON'T raise the Corproate Tax rate but institute a one-time 5% Wealth Tax above a certain net worth and an annual 1% Wealth Tax over a certain level?

Isn't THAT what we're REALLY trying to do?

The UK Wealth Tax Commission came to a similar conclusion, btw.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 51 replies Author Time Post
soothsayer Apr 2021 OP
Skittles Apr 2021 #1
wcmagumba Apr 2021 #2
stopdiggin Apr 2021 #6
Victor_c3 Apr 2021 #3
Beartracks Apr 2021 #15
11 Bravo Apr 2021 #17
Vdizzle Apr 2021 #43
KPN Apr 2021 #4
ShazamIam Apr 2021 #5
DENVERPOPS Apr 2021 #8
HuskyOffset Apr 2021 #12
ShazamIam Apr 2021 #19
taxi Apr 2021 #9
ShazamIam Apr 2021 #13
taxi Apr 2021 #23
ShazamIam Apr 2021 #30
taxi Apr 2021 #35
Demsrule86 Apr 2021 #10
ShazamIam Apr 2021 #16
PoliticAverse Apr 2021 #7
sarcasmo Apr 2021 #11
SWBTATTReg Apr 2021 #14
patphil Apr 2021 #18
Evolve Dammit Apr 2021 #20
Evolve Dammit Apr 2021 #24
LineReply He's right, BUT...
WarGamer Apr 2021 #21
newdayneeded Apr 2021 #26
WarGamer Apr 2021 #31
WarGamer Apr 2021 #32
marie999 Apr 2021 #49
GB_RN Apr 2021 #36
WarGamer Apr 2021 #37
GB_RN Apr 2021 #44
WarGamer Apr 2021 #45
GB_RN Apr 2021 #46
CrispyQ Apr 2021 #47
WarGamer Apr 2021 #48
jalan48 Apr 2021 #22
RicROC Apr 2021 #25
Cha Apr 2021 #27
joetheman Apr 2021 #28
Upthevibe Apr 2021 #29
WarGamer Apr 2021 #34
HalfSleeves81 Apr 2021 #33
soothsayer Apr 2021 #38
tableturner Apr 2021 #39
BigmanPigman Apr 2021 #40
SheltieLover Apr 2021 #41
SheltieLover Apr 2021 #42
marie999 Apr 2021 #50
RANDYWILDMAN Apr 2021 #51
Please login to view edit histories.