Majority of Americans favor wealth tax on very rich: poll
1–10 of 198 posts
Re: Majority of Americans favor wealth tax on very rich: poll
#2this is a classic case of tyranny of the majority.
Majority of Americans favor stealing wealth from others.
Re: Majority of Americans favor wealth tax on very rich: poll
#3I feel the wealth inequality issue needs to be addressed. My only problem with the wealth tax is that it takes money from the wealthy and feeds it to the government. I am having a hard time connecting how that improves the situation of the lower and middle classes.
Re: Majority of Americans favor wealth tax on very rich: poll
#4Alternative title: Majority of Americans are not rich, and therefore see no downside to taking from those who are
I do think the inequality gap is becoming more of a problem, but simply asking the population if they want someone else to pay more is going to have the obvious result.
Re: Majority of Americans favor wealth tax on very rich: poll
#5I don't really care about wealth inequality, but from a revenue perspective a wealth tax seems fantastic _if_ can be enacted and enforced.
Bill Gates came out in favor of a limited wealth tax as well - I think a mild cost to citizenship for the uber-wealthy is a great idea. Feels like political malpractice to not attempt it.
Sidebar:
> Kathy Herron, 56, a Republican who lives in Santa Rosa, California, said her support for Trump - a self-proclaimed billionaire - stems from his hardline policies on illegal immigration. In her view, the president would do well to support higher taxes on rich Americans. “We’re taxed from one end to the other, and it just seems the rich don’t pay their share,” she said.
Welfare chauvinism is an underrated political force in America. The next re-alignment will most likely be along these lines.
Re: Majority of Americans favor wealth tax on very rich: poll
#6It's worth noting that the income tax also started out as a tax on the very rich.
Once established, taxes have a way of finding their way from the rich, to the middle-class, and then even to the working poor.
Re: Majority of Americans favor wealth tax on very rich: poll
#7I feel the wealth inequality issue needs to be addressed. My only problem with the wealth tax is that it takes money from the wealthy and feeds it to the government. I am having a hard time connecting how that improves the situation of the lower and middle classes.
It helps if the money can be used to decrease tax on the lower classes or supply basic needs, like medical insurance.
Re: Majority of Americans favor wealth tax on very rich: poll
#8If 99% of people vote to impose a tax paid only by 1%, that violates the spirit of "no taxation without representation". That would be universally recognized if, for example, the right-handed voted to raise taxes on the left-handed.
Related article: "Millionaires support a wealth tax — as long as they aren’t getting taxed: CNBC survey" https://www.cnbc.com/2019/12/23/millionaires-support-a-wealt... . It found that the majority of millionaires supported a wealth tax that kicks in at $50 million, but not at $10 million -- because they fear it would hit them, now or in the future.
Using the tax code to pull people down is morally wrong.
Re: Majority of Americans favor wealth tax on very rich: poll
#9this is a classic case of tyranny of the majority. Majority of Americans favor stealing wealth from others.
[deleted]
Re: Majority of Americans favor wealth tax on very rich: poll
#10I feel the wealth inequality issue needs to be addressed. My only problem with the wealth tax is that it takes money from the wealthy and feeds it to the government. I am having a hard time connecting how that improves the situation of the lower and middle classes.
Yeah, it is a total mystery how adequately funding social welfare programs could somehow help the poor.