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Forum » Can anyone explain why we should NOT tax the rich more?
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Thread: Can anyone explain why we should NOT tax the rich more?

post 1630692553 02-06-2021, 08:23 AM
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Can anyone explain why we should NOT tax the rich more?

To facilitate discussion, here's a graph of effective tax rates over time.

post 1630692783 02-06-2021, 08:27 AM
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because they'll move somewhere else to avoid the tax
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post 1630692883 02-06-2021, 08:29 AM
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Originally Posted By steeler505⏩
because they'll move somewhere else to avoid the tax
You're taxing their source of income, not the person. Maybe Bezos can move but his Amazon stock is still based in the USA. He'll still pay US capital gains tax after he moves.
Originally Posted By Anachron⏩
Imagine being such a simple jack that thinking that raising income taxes on the top 1% is something that's meaningful.

Key word being "income tax".

Elaborate
post 1630692993 02-06-2021, 08:31 AM
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Originally Posted By SimpIeJack⏩
How can they move if you're taxing their source of income? Maybe Bezos can move but his Amazon stock is still based in the USA. He'll still pay US capital gains after he moves.
as in move their setup elsewhere. these companies bring is MILLIONS/BILLIONS of yearly tax revenue for the guvment. if they move their operations to another country then oh ****
post 1630693013 02-06-2021, 08:32 AM
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Because the government will just squander it.

If they really want to make a difference, they should pass fair IP laws, enforce monopoly laws, eliminate laws that decrease competition, remove corrupt politicians from office, change the way lobbying is done in this country, and encourage a smaller government.

Just LOL@that in this country though. The US has been an oligarchy for quite some time. Higher taxes only feed the oligarchy.
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post 1630693033 02-06-2021, 08:32 AM
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because I'm rich
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post 1630693083 02-06-2021, 08:32 AM
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Originally Posted By steeler505⏩
because they'll move somewhere else to avoid the tax
rofl this and governments are fekking useless with money.

OP is a 17 year old. How about focus on yourself rather than the politics of identity and jealousy. Have you not benefitted from billionaires? Do you use a computer? *******.
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post 1630693243 02-06-2021, 08:34 AM
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We should be taxing consumption and not income, see the Fair Tax (https://fairtax.org):
Your Money, Your Decision

The current federal income tax system is clearly broken — unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative before Congress that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend.

The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% compared to combining the 15% income tax bracket with the 7.65% of employee payroll taxes under the current system -- both of which will be eliminated!

Important to note: the FairTax is the only tax plan currently being proposed that includes the removal of the payroll tax.

Keep Your Paycheck

For the first time in recent history, American workers will get to keep every dime they earn; including what would have been paid in federal income taxes and payroll taxes. You will get an instant raise in your pay!

Social Security & Medicare Funding

Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents. Learn More .

Get a Tax Refund in Advance on Purchases of Basic Necessities

The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more .

Pay Tax on Only What You Spend

Be in control of your financial destiny. You alone can control your tax burden. If you’re thrifty, you’ll pay lower taxes than somebody who is not. Most importantly, you’ll be taxed fairly. Learn more about what is taxed.

Everyone Pays Their Fair Share

Tax evasion and the underground economy cost each taxpayer an additional $2,500 every year! But by taxing new products and services consumed, the FairTax puts everyone in the country at the same level at the cash register. Further, only legal residents are eligible for the prebate. Learn more .

The IRS is No Longer Needed

No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service. Learn More
post 1630693273 02-06-2021, 08:35 AM
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Originally Posted By LegDayLol⏩
rofl this and governments are fekking useless with money.

OP is a 17 year old. How about focus on yourself rather than the politics of identity and jealousy. Have you not benefitted from billionaires? Do you use a computer? *******.
Strong ad hominem attacks.
post 1630693293 02-06-2021, 08:35 AM
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Originally Posted By OhhhhMan⏩
as in move their setup elsewhere. these companies bring is MILLIONS/BILLIONS of yearly tax revenue for the guvment. if they move their operations to another country then oh ****
This. Not to mention jobs that they create.
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post 1630693303 02-06-2021, 08:35 AM
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Originally Posted By lockdev⏩
Because the government will just squander it.

If they really want to make a difference, they should pass fair IP laws, enforce monopoly laws, eliminate laws that decrease competition, remove corrupt politicians from office, change the way lobbying is done in this country, and encourage a smaller government.

Just LOL@that in this country though. The US has been an oligarchy for quite some time. Higher taxes only feed the oligarchy.
I agree with this guy. The extra tax money would just go to worthless government programs, oversees or to the already huge military budget.

What would you want the government to use it for OP? Paying down the national debt??? LOL
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post 1630693343 02-06-2021, 08:36 AM
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Originally Posted By Anachron⏩
Anyone who has any sort of substantial income makes it so as far as taxes are concerned, is not "income".
bingo. income tax means absolutely nothing to rich people.
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post 1630693353 02-06-2021, 08:36 AM
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Originally Posted By lockdev⏩
Because the government will just squander it.

If they really want to make a difference, they should pass fair IP laws, enforce monopoly laws, eliminate laws that decrease competition, remove corrupt politicians from office, change the way lobbying is done in this country, and encourage a smaller government.

Just LOL@that in this country though. The US has been an oligarchy for quite some time.Higher taxes only feed the oligarchy.
How can higher taxes on the oligarchy feed the oligarchy? At worst it would be a breakeven.
post 1630693363 02-06-2021, 08:36 AM
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Because it’s prejudice base on a persons salary.

Flat tax for everyone.

Doesn’t matter if you make $10k, $100k or a million a year.

Flat 15% tax.
post 1630693433 02-06-2021, 08:37 AM
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Originally Posted By Anachron⏩
Imagine being such a simple jack that thinking that raising income taxes on the top 1% is something that's meaningful.

Key word being "income tax".

He’s right you know.
Originally Posted By wave_length⏩
because I'm rich
Solid answer
post 1630693463 02-06-2021, 08:38 AM
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Better question, why should those of you who are contributing a smaller percentage of your income to this country have your vote count as much as someone contributing a higher percentage of their income?

If you're only offering 15% of what you earn to this country, but someone else is offering 30% of what they earn to build and sustain this country, shouldn't that person's vote count twice as much as yours?

It's like investing half as much in a company but expecting equal voting rights at a shareholders meeting. That's entitlement. I'm all for taxing people differently if you'd like, but we should start weighting voting rights based on tax brackets if so. This would also at least slow the effectiveness of democrats flooding this country with immigrants to win over more votes every year.
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post 1630693473 02-06-2021, 08:38 AM
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Originally Posted By Anachron⏩
Anyone who has any sort of substantial income makes it so as far as taxes are concerned, is not "income".
Yes. So changing the system to tax that income would increase the effective tax rate. Are you in favor of closing the looopholes or not?
post 1630693493 02-06-2021, 08:39 AM
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post 1630693633 02-06-2021, 08:40 AM
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Originally Posted By SoutheastBeast1⏩
Better question, why should those of you who are contributing a smaller percentage of your income to this country have your vote count as much as someone contributing a higher percentage of their income?

If you're only offering 15% of what you earn to this country, but someone else is offering 30% of what they earn to build and sustain this country, shouldn't that person's vote count twice as much as yours?

It's like investing half as much in a company but expecting equal voting rights at a shareholders meeting.That's entitlement. I'm all for taxing people differently if you'd like, but we should start weighting voting rights based on tax brackets if so.
The difference is, the wealthier you are, thelessstake you have in the future of the country. The moment things go south in the USA, the wealthy will flee to another more stable country.
post 1630693663 02-06-2021, 08:41 AM
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The rich do not pay taxes. The rich youre thinking about are probably those that make 200k - 400k a year.

The rich you actually want to tax are the ones that make 500k- millions a year...
Why dont they pay taxes? Tax sheltered accounts, money going into LLCs and businesses that all reinvest in themselves.

The game was designed for them and they know how to get around it. LOL at the media saying Trump pays $750 in taxes. He's not the only one, but like many others he can afford to pay thousands for accountants who know how to dance around the system.
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post 1630693833 02-06-2021, 08:43 AM
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Current internal revenue code is several times longer than the Bible. Flat tax rate, a single deduction for all income below a threshhold. One safety valve to provide the poor with relief that applies equally to all, one rate for people to argue about that applies equally to all income, and be done with it.
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post 1630693903 02-06-2021, 08:45 AM
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post 1630693943 02-06-2021, 08:46 AM
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Originally Posted By Anachron⏩
Again, you're not getting it.

You can't tax income that is not considered income.

The chart in OP is erroneous in such a way that when it's showing the top 1%, it literally excludes the demographic that is your target.

Unless you're just talking about taxing people who make barely six digits even more.
I appreciate your patience in trying to explain this incredibly simple fact to him, wild just how ignorant your average person is on taxes etc.
post 1630693953 02-06-2021, 08:46 AM
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Originally Posted By Anachron⏩
Again, you're not getting it.

You can't tax income that is not considered income.

The chart in OP is erroneous in such a way that when it's showing the top 1%, it literally excludes the demographic that is your target.

Unless you're just talking about taxing people who make barely six digits even more.
So you're saying the wealthiest people in the world have 0 (or minimal) income.
post 1630694003 02-06-2021, 08:47 AM
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Originally Posted By SimpIeJack⏩
How can higher taxes on the oligarchy feed the oligarchy? At worst it would be a breakeven.
Because you can't just tax the oligarchy. They make up <0.001% of the population.
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post 1630694043 02-06-2021, 08:48 AM
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Originally Posted By lockdev⏩
Because you can't just tax the oligarchy. They make up <0.001% of the population.
And what's stopping us from taxing that 0.001%?
post 1630694123 02-06-2021, 08:50 AM
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Originally Posted By SimpIeJack⏩
So you're saying the wealthiest people in the world have 0 (or minimal) income.
You're own example of Bezos selling stock doesn't qualify as "income."

Rich people aren't collecting paychecks, they are making money through other means.
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post 1630694223 02-06-2021, 08:52 AM
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Originally Posted By SimpIeJack⏩
So you're saying the wealthiest people in the world have 0 (or minimal) income.
Bread roll
post 1630694263 02-06-2021, 08:53 AM
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Originally Posted By SimpIeJack⏩
The difference is, the wealthier you are, thelessstake you have in the future of the country. The moment things go south in the USA, the wealthy will flee to another more stable country.
Actually you likely have more at stake in the country. Your wealth is likely tied to your country. If it goes your wealth will likely sink with it.

Think of a business owner and his employees. The owner makes way more than his employees. If things go under though he loses the most too.

The less an employee makes the more likely they are to just jump ship to another job/company.

You actually think the people who are making 500k+/yr aren’t tied to that job here in America?

Pro athletes making millions in America have less at stake if it all goes under and they’re forced to go play basketball and baseball in Europe?

Actors and actresses won’t lose an endless cash flow of money from Hollywood if USA folds?


Sorry brah, the wealthy have the MOST at stake in this countries success


You’re thinking of someone whose retired that has their wealth built and has removed themselves from the game. The ones still playing the game (i.e. the ones with income you are taxing) are very much heavily staked in the countries success


Retired people who aren’t being taxed shouldn’t have a vote. You’re right they can up and move with no penalty whatsoever if things go under. They have 0 at stake in the country thriving
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post 1630694313 02-06-2021, 08:54 AM
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Originally Posted By TheSplat⏩
You're own example of Bezos selling stock doesn't qualify as "income."

Rich people aren't collecting paychecks, they are making money through other means.
From the IRS website:
Adjusted Gross Income (AGI) is defined as gross income minus adjustments to income. Gross income includes your wages,dividends, capital gains, business income, retirement distributionsas well as other income.
I can assure you that while income such as capital gains, qualified dividends, and IRA distributions might get special treatment under current tax law, it is still tracked and taxed. At the end of the year the brokerage will send a 1099 with all your investment income and it will be taxed (often at a special rate).
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