Tax of 1% of a person's wealth over 50 million
Apr 24, 2017 21:33:27 #
The individual having 50 million and $10,000 would pay an annual tax of $100.00 on the $10,000.00.
Apr 24, 2017 23:52:03 #
Chocura750 wrote:
The individual having 50 million and $10,000 would pay an annual tax of $100.00 on the $10,000.00.
That's called a regressive tax, just like Social Security has a tax of 12% on all workers but a cut-off at $110,000.
Let's eliminate the income and FICA taxes altogether, abolish the IRS, and apply a national sales tax to consumption. That would end the 74,000 page tax code and all its loopholes and corruption.
We should limit the growth of the government's revenue to only 12% of the entire economy under the Armey Curve:
As a government that manufactures nothing, spending more and more, there is a tipping point where the economy stops growing and a nation stagnates and fails.
The government is not Robin Hood, taking from the rich and giving to the poor, it is more like Garfield the Cat, growing in its own weight and girth.
Apr 25, 2017 12:44:58 #
CounterRevolutionary wrote:
That's called a regressive tax, just like Social S... (show quote)
Absolutely, that would guarantee that the people who earn least would pay a far higher percentage of their income in taxes than the individuals who reap 80 to 90 percent of all income per year. Good Plan! Why should people who spend every dime they earn to stay alive get a break?
The government is not like Robin Hood or Garfield, it is more akin to Bluebeard the Pirate. If you fall afoul of it, it will take all you have and make you walk the plank. It fires broadsides of regulations at whatever enterprise was keeping you afloat. It is supported in its power, by the scurvy crew that gets a share of the wealth they did not earn. In short, thieves!
Apr 25, 2017 22:59:47 #
pafret wrote:
Absolutely, that would guarantee that the people w... (show quote)
Funny man, Pafret! But pathetically funny. There need no be consumption taxes on food, shelter and clothing.
You forgot that the world we live in is not a ZERO sum pie. There are enough resources under our feet to last us another billion years; we only need the freedom to develop them.
Do not worry over another man's wealth. You don't want his money, you want his customers. We redistribute the wealth through trade, not theft, be it Al Capone or the state sanctioned thievery of socialism.
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