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Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
131–140 of 488 posts
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#132we already have a wealth tax. Have cash? Inflation (cheapens govt debt) Own Property? Property Taxes. Own Equity? capital gains on realization of profits Get Dividends? Dividends are taxed. Income? Taxed. Virtual every form of wealth is taxed. The question should be how much should it be taxed, and enforcement. A wealth tax is a nice song and dance around the issue and cannot be reasonably implemented hence why it's…
Inflation and property taxes are wealth taxes. Capital gains tax and tax on dividends is not.
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#133The real solution: a flat tax. 20% for everyone, regardless of take. A fair, non-political solution.
Dismantle the IRS, ditch all of the complexity.
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#134Sad to see ignorance being spewed all over. The Wealthy have tax engineers that make sure they pay as little taxes as legally possible. High Taxes only punish the Working class and Business owners making sure that social mobility becomes nonexistent.
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#135As a business owner, when taxes are low, I see that as an incentive to pocket profits. But when taxes are high, I see that as an incentive to hide the profits by investing in the future. I know this isn't always the case with everyone. And especially investors have a case that higher corporate taxes reduce the value of their investments, possibly to the point of not making them. But this incentive is so blatantly obv…
This is so hidden in the debate that it is almost like a "secret". The more taxes you have on corporate income, the higher the incentive for corporations to invest in the company, so they can avoid paying taxes. This is good for the economy. On the other hand, lowering corporate taxes also generates a cascade of tax avoidance, since you have higher profits that generate the need for more complex tax avoidance schemes…
Lower taxes means you have higher profit post-tax. You would not need to avoid paying taxes on post-tax money.
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#136The same argument can be used against the poor. Poor-people-oriented media will be quick to tell that wealth taxes are a good idea.
Communism was an approach to gain fair equality, but humans are so corrupted it never was achieved.
Wealth taxes mean another evolution iteration for loopholes. Of course the politicians whose audience is poor would promote that idea. But is it fair?
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#137Earlier quoted context omitted.
This is so hidden in the debate that it is almost like a "secret". The more taxes you have on corporate income, the higher the incentive for corporations to invest in the company, so they can avoid paying taxes. This is good for the economy. On the other hand, lowering corporate taxes also generates a cascade of tax avoidance, since you have higher profits that generate the need for more complex tax avoidance schemes…
> This is good for the economy. Not at all clear to me this is the case.
I think it's pretty clear that corporate re-investment going up is good for the economy, perhaps looking at the equivalent lengths countries go to draw excess investment money from the international market in is a decent example - or maybe the WPA in the US where the government artificially injected money into employment to restart the economy.
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#138Earlier quoted context omitted.
If my wealth comes from owning a percentage of a company (say I own 30% of AMZN) what is the way to tax me other than taking my shares, i.e. the Gov would take certain percentage of my shares? And if we go that route how many years would it go by before Gov owned majority of shares of most companies? Lots of people scream that we should tax the wealthy but I do not follow how you tax someone whose wealth comes from l…
Let's look at jeff bezos for example. He sells over a billion dollars worth of amazon stock each year [0] (those numbers have increased slightly since then actually). Fine, he pays some of that to the government, and maybe sells slightly more. I don't see the problem. If, in fact, your wealth only comes from ownership in a company and you have no other source of wealth, then yes you would be encourages to sell your s…
Exactly. Some people seem to believe that wealth in shares of a company are in some way different from other types of wealth. Just sell shares an you'll be fine with your taxes. By the way, if you're the controller of a company, you can sell shares without voting power (this has always been a possibility).
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#139What frustrates me about this whole argument over wealth taxes is that the arguments aren't grounded in facts. The reality is that we "pay" for inequality with reduced productivity. A great example of this is "single family home neighborhoods" in urban areas. They have no societal benefit, they are essentially subsidized land use patterns for the well off, and it makes it harder for less well of folks to move to area…
> A great example of this is "single family home neighborhoods" in urban areas. They have no societal benefit, they are essentially subsidized land use patterns for the well off, and it makes it harder for less well of folks to move to areas where they can get a better job/improve their lot in life and grow the economy. I've seen this talking point twice now this week. What's the alternative? We all live in crowded m…
Multi-family buildings != squalor
It sounds like you've never been in an apartment building. Some are crappy, sure, but plenty are pretty nice or at least decent (the building, the apartments will be what the residents make of them).
Re: Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea
#140Earlier quoted context omitted.
My guess: because they hope to be wealthy some day.
Doesn't everyone? Plus, there's other reasons to be skeptical of wealth taxes, capital flight is a real thing.
> capital flight is a real thing
Yep, that's why all of the rich people have left New York and California.