50 years of tax cuts for the rich failed to trickle down, economics study says

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Re: 50 years of tax cuts for the rich failed to trickle down, economics study says

#161

Post by bluecalm » Mon, Dec 21, 2020, 11:13 AM UTC

otikik wrote: post #155

bluecalm wrote: post #108

Earlier quoted context omitted.

Except if you provide a useful service people want to exchange money for then you made society better off even if you don't pay any taxes ever. This is obvious yet so often missed by the "rich people evil" rhetoric. If you think people are enriching themselves unjustly focus on fixing those mechanism instead of punishing those who make the world a better place for everyone around them.

> if you provide a useful service people want to exchange money for then you made society better off even if you don't pay any taxes ever Society will be even better if you do that and pay taxes. > If you think people are enriching themselves unjustly focus on fixing those mechanism instead of punishing those who make the world a better place for everyone around them. The purpose of taxes is not punishment. Consider…

Yes, I was specifically arguing against the point "you extracted money from the society and therefore made it worse off".

This argument is often raised and it's based on the idea that if you make a lot of money you're somehow exploiting others.

Re: 50 years of tax cuts for the rich failed to trickle down, economics study says

#162

Post by 11thEarlOfMar » Wed, Dec 30, 2020, 5:42 PM UTC

ogre_codes wrote: post #146

11thEarlOfMar wrote: post #122

Earlier quoted context omitted.

That's interesting. The median home price in the US (it varies dramatically by region, I need to simplify first) is $295,000. Divided by 4 is about $74,000. The median household income (using household since you're using house prices) is $69,000. The actual numbers would need to change for this to work, maybe it needs to be 1/10th the median home price as the threshold, for example. But it's interesting to think thro…

I was going off the top of my head. What I was intending was for people to not get taxed until they can afford to buy a home in their locale. A mortgage payment should be 1/4 of your income which is where I came up with 1/4, but I commingled ideas here and said the home price. It was a seat of the pants attempt to make taxation based on actual living costs. (and in retrospect not great for a variety of reasons). The…

Do you think UBI would accomplish that, at least partially? It would ensure survival-level income, even for unemployed persons.

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