Top 3% of Taxpayers paid majority of income taxes in 2016.

How does somebody else being extremely wealthy affect you and your life?

 

Let me make this simple. The lady that cant feed her kids isnt poor because somebody else is wealthy.

 

I am absolutely flabbergasted people still promote this zero sum economics bs.

So there is 1.69 trillion in the economy. How much was there 20 years ago. Even with inflation, it grew. Let me help you out, that is wealth CREATION.

We dont have a froggen game of monopoly liberals like to contend as a game they are losing. That isnt how it works.

 

To some extent there is a zero sum component.

There is also a larger population. And the cost of housing has gone up in many areas due to shortages (shortages of available building space or less expensive already existing older housing stock).

 

A larger economy in absolute dollar terms doesn't reflect more economic activity if it is just reflecting inflated price levels.

People may be getting and spending more money than they were before, but they're still getting the same things for that money.

(This is not necessarily the same thing as inflation either)

 

Feel free to quote me where I have ever said people shouldn’t be wealthy.
Or even where I have said some people shouldn’t have more than others.

Come back after you chase that strawman down.

People should pay taxes proportional to their income (or wealth).
Someone that obtains 90% of the wealth should pay 90% of the tax.

 

If it was zero sum, more people would dilute the money. But even with all those people we are wealthier.

No zero sum doesn't exist at all. To the detriment of marxists agenda... I understand why they refuse to accept it.

 

There are some things that are finite in existence and not so easy to build more of.

Then there's the issue of labor pool expanding faster than economic growth which can drive down wages and tip things into a recession.

 

So you're for a flat tax, with the tax owed linearly proportional for all income levels?

 

Perhaps we should liquidate and seize all of the assets from the 1%.

Would that satisfy the bloodthirsty left?

 

What don't you understand we do not tax wealth. We have no system to tax wealth other than the rarely used estate tax when the person dies and it can take YEARS to assess the value of that wealth.

 

The employer got a tax cut on his taxes on his money. How did that rob you of something you had?

 

They do it every day and if I choose to pay with cash nothing is recorded although it is not necessary to send a record of the purchase to government even if I use my debt card. You think your state/county/city gets a record of your purchase when you buy something and pay sales taxes on it? When you buy gas and pay the federal gas taxes you think government gets a report it was you?

Why would cash be eliminated? You still sales taxes on cash sales DUH.

 

Because we are generally talking federal taxes here and the majority the vast majority of taxes we pay to the federal government is through the income tax system.

 

Wouldn't giving it to other people directly or a good chariy do more for them rather than giving it to the government to do it for you?

 

It's shared way more than you give credit for. Every single charity in this country is riding the backs of the rich. Let's just get real, you just want someone to get something for nothing.

 

So please tell us how a rich person has screwed you? Oh and by the way those in the 1% also pay more than 99% of the population as well.

 

Surely your not serious, how many people do you know that don't have a smart phone, think about that for a minute.

 

If those 1400 taxpayers had more wealth than the other 70 MILLION taxpayers, would you still think it unfair?

 

I'm not trying to be snotty, but I don't have a 'smart' phone, even though I could easily afford a dozen of the best of them. The ancient museum-piece I use is a thing called a "feature-phone", and with it I can text, and make/receive phone calls. It has a small but easy-to-use keyboard, a camera, can play recorded music from a memory card, and it has an excellent speakerphone so that I don't have to put the thing up next to my head (never a good idea). But, I don't use it to go on the internet....

You can't even buy a new phone like mine anymore, but it's probably perfect for anyone who has more to do than spend his life farting around with 'social media'.... Just a thought.

Back on topic -- yes, we need to absolutely eviscerate the current U. S. Tax Code, and get rid of all the loopholes, shelters, exclusions, deductions, exemptions, etc., etc. That will never happen. So, what's next...?

 

Right. It's amazing how stupid some stupid people can be.

 

The 'art' of the thing should be that income tax bracket(s) are devised, and then those within those brackets ACTUALLY PAY THE PERCENTAGE INDICATED. That is the very most important thing! Every income-earner should pay income tax, and there should be no (NO) exemptions, deductions, loopholes, shelters, etc. for anybody, for ANYTHING. That is the one and only way that our system of taxation can ever hope to be "fair"....

 

If I understand it, it is more than whatever they pay now.

 

Interesting topic, I see the typical losers always want to spend other people's money. France has a tax plan like some think we need here. It has resulted in wealthy people and their businesses moving out of France.

Taxing wealth is difficult. First of all, most wealth is not liquid. Things like farm land, machinery, homes, businesses are where most people's wealth is tied up. These items are taxed so people do pay tax on their wealth. Wealth is also accumulated. People over 65 control most of the wealth in this country. For many the biggest factor in that wealth is their home. I am curious, do you plan on throwing these people out of their homes so you can get your hands on that wealth? Next, the big question is after you redistribute all the wealth these people have accumulated, how are you going to replace that 70% of the tax income you have destroyed?

Other countries have achieved what you want. Ask Cuba and Venezuela how it is working.

 

This system could never work. An example. I am a home builder. I build 40 homes a year. In a good year they all sell. However, do to a bust of the housing bubble, I am only able to sell 10 of my homes. Now I am stuck with 30 unsold homes and 75 lots that I am making a loan payment and other expenses on. My expenses are about $250K a month. Under your system, I would not be able to offset some of those expenses with the profit I made off the 10 homes I sold. With deductions and tax averaging I am able to stay in business, keep my people employed and pay off my creditors. Without them, I am in bankruptcy.