The Rich Are Different
08-17-2011 | 05:47 AM
#22
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From: Self employed
If that was the "asset tax", most places already have that. I pay a bit over 1% of the assessed value of my asset (my house) to the County of San Diego. In Montana (no sales tax), you pay that same type of "asset tax" on basically anything they can find.
Perhaps you mean a tax on invested money? That would hurt !!!
08-17-2011 | 07:19 AM
#23
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From: 744 CA
Buffett: Stop coddling the super-rich - Business - Personal finance - msnbc.com
There's nothing stopping anyone from sending a check to the IRS if they so desire to pay more in taxes ,makes me wonder what this guys real intention is .
There's nothing stopping anyone from sending a check to the IRS if they so desire to pay more in taxes ,makes me wonder what this guys real intention is .
EXACTLY... I have been saying this for years. ANYBODY who thinks we need to raise taxes.. RAISE YOUR OWN TAXES. The US Treasury will more than gladly take your check ...annotate it to pay down the national debt. But do any of these blow hards actually PAY more taxes...NO.
08-17-2011 | 08:34 AM
#24
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The current tax system is styoopidly complex - for no good reason. I'd be in favor of a flat tax or, better, something along the lines of the fair tax:
Americans For Fair Taxation: Americans For Fair Taxation
Having spent a lot of time in the UK, I'm not a fan of a VAT because it taxes throughout the system (creation through end-use) whereas something like the fairtax or even a national sales tax (applied only to end-user on new items) seems like a much better way to go insofar as it won't stifle production and taxes at a more appropriate spot in the consumption chain.
Americans For Fair Taxation: Americans For Fair Taxation
Having spent a lot of time in the UK, I'm not a fan of a VAT because it taxes throughout the system (creation through end-use) whereas something like the fairtax or even a national sales tax (applied only to end-user on new items) seems like a much better way to go insofar as it won't stifle production and taxes at a more appropriate spot in the consumption chain.
08-17-2011 | 08:43 AM
#25
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From: Self employed
It's complex because it keeps getting added to, so that it can pander to every lobbyist that drops a dime in a congress-critters pocket.
The lobbyist will NEVER go away.
http://www.nytimes.com/2011/03/25/bu...pagewanted=all
"General Electric, the nation’s largest corporation, had a very good year in 2010.
The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.
Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion"
08-17-2011 | 09:00 AM
#26
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From: Seat 0B
What is considered poor? 2011 HHS Poverty Guidelines
Poor people don't pay taxes? Nonsense. By definition of what income defines "poverty", many pilots & others fall in that category. I'm barely above that line & damn sure pay taxes. How much is GE, GM, or any other corporation getting taxed? Where is the equality?
Poor people don't pay taxes? Nonsense. By definition of what income defines "poverty", many pilots & others fall in that category. I'm barely above that line & damn sure pay taxes. How much is GE, GM, or any other corporation getting taxed? Where is the equality?
08-17-2011 | 09:11 AM
#27
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From: Seat 0B
I think the rich CAN be different. Sometimes it's not what you have but what you do with it. Power, control, influence, money. Some use these things to better not only themselves and their families, but better their communities and society abroad. Some use these things to better themselves at the expense of others. It's a do unto others before they do unto you or do unto others as they have done unto you type of attitude. Keeping yourself up by oppressing others will never work in the long run. Nature will always balance itself out.
A classic example is our current economic status. We are economically & politically "top heavy" with policies, rules & laws that serve the interest of a few at the expense of the many.
Just my two cents.
A classic example is our current economic status. We are economically & politically "top heavy" with policies, rules & laws that serve the interest of a few at the expense of the many.
Just my two cents.
08-17-2011 | 12:29 PM
#28
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EXACTLY... I have been saying this for years. ANYBODY who thinks we need to raise taxes.. RAISE YOUR OWN TAXES. The US Treasury will more than gladly take your check ...annotate it to pay down the national debt. But do any of these blow hards actually PAY more taxes...NO.
Buffet is rich, but no single person can ensure the long-term viability of the nation's economy. Systemic changes have to be made in the way that the government collects and allocates tax dollars. Even if someone stepped in and could somehow pay off the current national debt -- Without fundamental changes to economic policy, we would go right back into the red.
08-17-2011 | 02:42 PM
#29
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