Billionaire investor warns: U.S. "wealth disparity" will end in "revolution, taxes, or war"

so true, liberalism is far too stupid to know that corporations pass on tax cost like they pass on any cost in the price of products they sell to us. We have tax only because liberalism lacks the IQ to know who pays the tax.

 

In a way, yes. In more repressive societies the rich are rich because of their political reliability than any real accomplishments. In a lot of ways, the Soviet Union was damaged by the fact that senior leadership was never really aware of what was going on. They simply knew what the politically reliable underlings told them.

 

you are already playing politics, read what I said, those exceptions apply to everyone rich and poor alike

you do not like them ad the rich are not getting any super sized tax cuts

max the tax rate something like 25% on on all income earned over 30k rich or poor, one flat tax

 

republicans are too stupid to realize corps do not pass tax cuts on to the consumers or the employees
tax cuts for the middle class give consumers more money to spend, that creates jobs

I would raise the corp tax rate 25% and give any corp that doesn't outsource American jobs a 30% tax cut... the corps that outsource already have their tax savings

 

Plain and simple, you think.

Higher taxation (and a lower DOD-expenditure) will allow America to finance a National Healthcare System AND Free Post-secondary Education for all who seek it - free, or nearly free.

It will be a boon to America and Americans, as well as the greatest event to have happened since Independence Day, 1776. Yes, we need another revolution - from the mindless grip of low Upper-income taxation that permits excessive political funding.

We can put the enhanced taxable revenues to more fruitful use bettering American lives, rather than wasting it on silly TV commercials that sell political candidates like soap-detergent - where they all "wash whiter than white" ...

 

Create jobs? Just the opposite.

The lower income-taxation rates shift "financial value" to a select group of people who DO NOT SPEND THE REVENUE THAT ESCAPED TAXATION. They salt it away in Investment Funds, most of which create no new jobs of the magnitude necessary to sustain low unemployment levels. (Just ask me how I know that. Just ask.)

Whereas, if taxed and spent on, for instance, a National Healthcare System (which Americans have finally shown they like very much with ObamaCare) and Post-secondary Education so that more can afford to get a diploma that will assure them a better paying job.

The solutions are so damn easy it is difficult to imagine why we are wasting time pissing around with the mindless "news" of what brainless nonsense Donald Dork twittered just a minute ago ...

 

I did read your post, you added a "poverty limit" and a "tax cut for investment income". That opens the door to all kinds of corruption, vote buying, favouritism. Both are social engineering and adds a moral aspect.

One rate, everyone pays, no deductions or credits or discounts. That's the fairest and safest approach.

 

that poverty limit applies to everyone, rich or poor, no one pays taxes on any money below that, rich or poor
say that limit is set at 20k, if you make a 100k, you only pay tax on 80k

 

Boy, you sure have THAT backward!!! LOL!!!

 

Right. Not any longer anyway. But it should. Taxation should be used again to prevent excesses that damage us.

Bull. Wealth buys opportunity and buys a suppression of opportunity/competition.

 

I know what the "poverty limit" is, the mechanics is not the issue.

You say "poverty" now, that will get turned into a "living wage" tomorrow. You say $20k now, a politician can buy more votes if its $40k. See the trend?

 

This is actually the most pertinent observation made so far in this thread. What this poster is saying that as long as people have hope and believe in a better future because they believe in the system, wars and violence can be avoided. This is wishful thinking historically though, this story always ends the same way. When the day comes when enough of us give up, the end will come soon thereafter.

 

What I am saying is that when people have the free will to fail or succeed, they will fail or succeed based their own personal merits. As long as opportunity to succeed is available to everyone, there is no reason to be concerned.

The only policy we need now is to change our welfare system to one in which people are encouraged to get off welfare instead of staying on it. Maybe one change would be to guarantee welfare for 5 years and tie it into a work skills, internship, or apprenticeship program.

 

You want a system in which taxation can and SHOULD be used as a weapon?


QUOTE="Kode, post: 1068119569, member: 70481"]
Bull. Wealth buys opportunity and buys a suppression of opportunity/competition.[/QUOTE]

Yes it can, but so does hard work, intelligence, and guts. John Boehner is a great example of that. I believe his father was a janitor and his mom a homemaker and he became Speaker of the House.

 

Nope. Absolutely correct.

 

None of this has any bearing on what you quoted.

 

Would you support a flat 10% tax rate, eliminating ALL deductions from income, and treating ALL sources of money or value received each tax year as taxable income?
Tax liability would then begin when $10 or more dollars was earned during a tax year.

 

Yes, let the oil companies raise their prices instead.

Would you also end the cap on the maximum benefit payment? Currently, the SS benefit payment for those who paid the max tax into SS over a 35 year or greater period is worse than stuffing money under a mattress.

 

I agree, except I would prefer a 10% flat tax, which after abolishing a large number of government agencies as you suggest would then only require a small amount of spending reduction on the remaining agency budgets. A 15% tax could be used temporarily in the case of a true crisis, WWIII for example.

 

And ALL citizens and non-citizens as well. No business or individual should be allowed to expect government to diminish the effects of poor decisions.

 

Everyone should pay taxes on ALL income regardless of how little it may be. Those who earn little have access to assistance from a great many government welfare programs so they should be allowed to feel the loss from their income that provides the benefits they and others who have no taxable income receive.
Businesses should be taxed identical to individuals, meaning they should pay the same 'fixed' tax rate on their profits remaining after all costs. If a business were to distribute ALL the annual profits in the form of dividends to shareholders it would owe NO tax.

 

You mean as an economic management tool. Yes, of course. But you will call it whatever serves you.

Tax law has always been used to alter, adjust, correct, and incentivize economics. That's what progressive taxation is about. That's what tariffs are about. That's what high taxes on tobacco is about.

 

Is that all you got for a rebuttal?

Too bad for you then ...

 

Thanks for falling into my trap! You are saying that with fewer controls and regulations and tax burden on the rich business elite, the richer they will get and the poorer the rest of us will be as a result..... -greater inequality/disparity.

Thanks!!

 

Only by the machination of low upper-income taxation.

How do you think Income becomes Weath, by means of a magic-wand? No, it does so with upper-income taxation that is ridiculously low ...