Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

deathrind

(1,786 posts)
52. We should be closing loop holes...
Tue May 6, 2014, 01:59 PM
May 2014

...and exemptions that allow for US based corporations to park earnings offshore in order to avoid paying the taxes that should be paid on those earning.

I dunno YarnAddict May 2014 #1
everyone DOES pay something in taxes - you gotta stop watching faux news leftyohiolib May 2014 #2
Apparently not enough to make them get out & vote in mid-terms. YarnAddict May 2014 #9
i dont those two thing are intertwined - unless taxes went crazy high leftyohiolib May 2014 #34
Excellent point, taxing them isnt the answer, but what is? randys1 May 2014 #79
I'd hate to see people fined for NOT doing something YarnAddict May 2014 #109
I will take that randys1 May 2014 #114
What does "skin in the game" mean? Donald Ian Rankin May 2014 #8
So why don't most people vote, especially in mid-terms? YarnAddict May 2014 #12
Any number of reasons. Donald Ian Rankin May 2014 #18
That doesn't keep people from challenging equally daunting odds and paying for the privilage of AScott May 2014 #24
Congratulations! You have discovered that humans are not rational self-interested agents! Donald Ian Rankin May 2014 #26
What % of the pop plays the lottery? Jackpine Radical May 2014 #102
I recall a story that said the poor spend (on average) 9% of their income on the lottery. AScott May 2014 #103
plus alot of people are lazy - they dont think their vote maters - they feel the 2 parties are leftyohiolib May 2014 #35
Is it stupid to think your vote doesn't matter? Donald Ian Rankin May 2014 #44
yes i believe it is stupid to think your vote doesnt matter - leftyohiolib May 2014 #57
Why? Donald Ian Rankin May 2014 #65
i never questioned the reason to vote it seems to me that you have only one way leftyohiolib May 2014 #82
Tell that to the people who gerrymander. Erich Bloodaxe BSN May 2014 #68
areas get gerry-mandered BECAUSE people sat home in census years like 2010. but just sit leftyohiolib May 2014 #88
Here.... YoungDemCA May 2014 #22
Many don't vote because they have been convinced that their vote doesn't matter liberal N proud May 2014 #23
And many of us have been voting for effing ever, truebluegreen May 2014 #41
How would you tax wealth? Donald Ian Rankin May 2014 #3
off their 1040 ? leftyohiolib May 2014 #5
Do you mean adjusted gross income? Donald Ian Rankin May 2014 #11
yes that is what i meant and youre correct it's just income and now to quote gov perry "oops" leftyohiolib May 2014 #30
1040's don't show wealth, they show income. n/t pnwmom May 2014 #16
yes you are correct - i goofed up leftyohiolib May 2014 #32
Measuring wealth is far easier, imo. reformist2 May 2014 #58
How so? oldhippie May 2014 #62
Periodic appraisals of real estate, bank account and mutual fund balances, cars... reformist2 May 2014 #72
That's a pretty limited definition of "wealth" ..... oldhippie May 2014 #77
It's way harder to hide assets than income, imo. reformist2 May 2014 #83
Really? OK, I guess you must not be .... oldhippie May 2014 #87
LOL that made me laugh laundry_queen May 2014 #125
You have that backwards Lonusca May 2014 #126
Wealth is much easier to hide than income. Adrahil May 2014 #112
there is alot of wealth in this country and the u.s. should go after it - the u.s. created the leftyohiolib May 2014 #4
So, again, how would you assess wealth? oldhippie May 2014 #59
idk but i refuse to think it cant be done -records of sales are kept and could be recorded in a data leftyohiolib May 2014 #66
That's what I thought ..... oldhippie May 2014 #70
you were expecting a soultion to this problem in 5 minutes from people on a discussion board? leftyohiolib May 2014 #85
You're right. And I am sorry. oldhippie May 2014 #89
It's already done. Erich Bloodaxe BSN May 2014 #71
Once in a lifetime ..... oldhippie May 2014 #73
People die every day. Erich Bloodaxe BSN May 2014 #78
I don't think you have run the numbers ..... oldhippie May 2014 #86
Several countries have a wealth tax including France and Spain. So to find out 'how' a person Bluenorthwest May 2014 #94
Um, I'm talking about something that exists NOW. Erich Bloodaxe BSN May 2014 #116
So anyone who's rich would be worth 15% less each year? AScott May 2014 #6
that is assuming they never make a penny backwoodsbob May 2014 #27
Granted, but do you really believe that 98% of someone's previously owned wealth should be taken AScott May 2014 #55
of course not backwoodsbob May 2014 #76
A 98% confiscation of wealth over 25 years is exactly what your OP proposes, so... AScott May 2014 #92
In countries that have wealth taxes the rates are in the 1-2% range Bluenorthwest May 2014 #95
So if I retire at 65 and have saved $ 1 million ..... oldhippie May 2014 #67
no...of course not backwoodsbob May 2014 #96
Your OP, which we were to discuss .... oldhippie May 2014 #100
you're right...it is perfect as it is backwoodsbob May 2014 #110
I'm getting ready to eat the penalty and cash out backwoodsbob May 2014 #97
Is 98% of accumulated wealth being confiscated a "fair share" over the course of 25 years? AScott May 2014 #99
The thing is, if you start taking "wealth", which in Bill Gates's case would mean his shares of.... A HERETIC I AM May 2014 #74
again....you assume his money is just laying in a mattress backwoodsbob May 2014 #107
No, in fact I think I made it explicitly clear that I DON'T think his money is under his mattress A HERETIC I AM May 2014 #115
What kind of wealth? spinbaby May 2014 #7
I Support A Wealth Tax, Sir The Magistrate May 2014 #10
I don't think that you can determine what an individual's wealth is. Donald Ian Rankin May 2014 #14
Market Value Of Most Assets Can Be Established Readily, Sir The Magistrate May 2014 #17
I'm afraid I think the evidence shows otherwise. Donald Ian Rankin May 2014 #25
You Ignore Items Like Stocks, Bonds, Notes, And The Like, Which Are the Bulk Of Wealth, Dir The Magistrate May 2014 #28
the wealthy hide their assets behind multiple layers of dummy corporations nt msongs May 2014 #48
Government Could End That, Sir, Handily The Magistrate May 2014 #51
How do you fix Sgent May 2014 #117
What Is The Market Value Of the Building, Sir? The Magistrate May 2014 #118
You forget Sgent May 2014 #120
It Is Worth Its Proportion Of The Building's Current Value, Sir The Magistrate May 2014 #121
So, assuming a moderate return on investment, in 10 years all the "wealth" would be gone. pnwmom May 2014 #13
To some extent, wealth is taxed already. Big Blue Marble May 2014 #15
not really backwoodsbob May 2014 #46
I love saving for my retirement especially with the interest on savings of 0.000000000000001% lol nt msongs May 2014 #49
So because I don't have children I should be taxed more? brooklynite May 2014 #19
Your proposed method of taxation would reward people for wasteful spending, accruing nothing, pnwmom May 2014 #20
In an economy that has been based almost entirely on Erich Bloodaxe BSN May 2014 #75
And when all their wealth is gone who will you tax? nt hack89 May 2014 #21
Rather Depends On What Is Done With The Tax Revenue, Sir, Does It Not? The Magistrate May 2014 #31
Only if state and local property and business taxes go away hack89 May 2014 #37
Not Necessary To Arrange A Tax In Cash Terms, Sir The Magistrate May 2014 #47
Stop making sense! FrodosPet May 2014 #106
With this approach, the very rich would end up holding their wealth as gold bars in basement vaults, Nye Bevan May 2014 #29
Exactly ..... oldhippie May 2014 #84
What if my assets are not growing faster than the tax rate? hack89 May 2014 #33
You'd probably have no tax. A flat tax on wealth would free the middle class of all taxation. reformist2 May 2014 #61
How much wealth is too much wealth? nt hack89 May 2014 #108
Both as we do. whatthehey May 2014 #36
How about taxing dividends and capital gains as income? Yo_Mama_Been_Loggin May 2014 #38
I'm not sure exactly how this works gollygee May 2014 #39
Wealth isn't cash. Few wealthy people keep their money liquid. It wouldn't work. Xithras May 2014 #40
Ahhh Excellent question oldandhappy May 2014 #42
A tax on capital? No way that would ever fly. MicaelS May 2014 #43
I believe that's the point of the Estate Tax... Jeff In Milwaukee May 2014 #45
Since millionaires can't be bothered to pay on their earnings, wealth closeupready May 2014 #50
We should be closing loop holes... deathrind May 2014 #52
One way we get at that is capital gains tax - TBF May 2014 #53
The numbers don't work for your taxation structure ... 1StrongBlackMan May 2014 #54
Violates the takings clause AngryAmish May 2014 #56
That would cause nothing but a rapid devaluation of property Savannahmann May 2014 #60
I'm sure we could manage a transition. The key question is whether a wealth tax is fairer. It is. reformist2 May 2014 #63
Transition? Savannahmann May 2014 #81
Gotta disagree Sgent May 2014 #119
As I mentioned Savannahmann May 2014 #129
Both. Erich Bloodaxe BSN May 2014 #64
I'm with you in concept, but much of "wealth" is based on paper -- like value of stocks or real Hoyt May 2014 #69
so tax the same dollars over and over and over again . . . nonsense DrDan May 2014 #80
But... we want their money ?? Bonx May 2014 #113
we should be promoting saving, not spending DrDan May 2014 #128
Tax earnings. Wealth is too hard to calculate. jmowreader May 2014 #90
This will be fun. Each year the poor people can sell off any valued posessions hughee99 May 2014 #91
GWT moondust May 2014 #93
Wouldn't this problem be best dealt with through taxing capital gains and inheritance taxes? /nt Marr May 2014 #98
ALL bonuses in transnational corporations. ALL tax haven money collected on pain of prison. ancianita May 2014 #101
Ummm... It depends. politicat May 2014 #104
I think you might have something in theory, but Jackpine Radical May 2014 #105
well... there are issues to consider. Adrahil May 2014 #111
And how do you calculate wealth? Inventory everyone's belongings? JHB May 2014 #122
I doubt such a tax would be constitutional badtoworse May 2014 #123
Intuitively, this sounds like a bad idea. aikoaiko May 2014 #124
Why not both? Orsino May 2014 #127
Then I would screw myself by restoring my classic car, for example. Throd May 2014 #130
Wow, talk about expanding an intrusive govt workforce mainer May 2014 #131
Latest Discussions»General Discussion»should we be taxing earni...»Reply #52