The Soapbox

BocaHoo91

Joined: 06/03/2005 Posts: 31041
Likes: 52411


A couple of points. I think the revenue optimal top marginal rate is a LOT


higher than we are right now but agree with you that it's probably not the best policy to simply try to maximize revenue.

As far as getting us more in line with the rest of the world, that would require MASSIVELY raising taxes on the bottom 90% of earners at the same time as raising taxes on top earners. Now the bottom 90% would get social benefits to compensate for lower take home pay, but European countries do not just tax the shit out of the rich, they tax the shit out of everyone and need a broad tax based to pay for the benefits. I don't think that approach will work as well here, but if we're going to go down that path, the tax base needs to be significantly broadened... it can't just be on the backs of rich people (whether you define that as $10m+ or $500K+)

I just abhor the "fuck those rich guys attitudes". I can relate more to that attitude towards inherited wealth (and I see a lot of it down here, but the fact that some rich 30 year old drives a Ferrari and doesn't have to work is no skin off my back), but there are a ton of people who have achieved their wealth through ingenuity, hard work, risk taking, and yes, some luck. A guy in my neighborhood is a dermatologist who saw a need for better systems to run his business (billing, scheduling, records management, etc) and invested his time and money in creating a web based app to do just that. That company now employs nearly 1,000 people, just passed $100 million in revenue, and with the latest round of funding, it is now officially a half a unicorn. He owns half the company so on paper he's now worth ~$250 million (don't ask me why he still lives in my neighborhood... I'd have a mansion on the water). He still practices dermatology (on a significantly reduced schedule), and could not be a nicer, humbler guy. And you have 1,000 people drawing a paycheck because of he decided to actually run with his idea and make it a reality. Why on earth would anyone want to "fuck him over". It's just a stupid, petty, jealous mindset.

(In response to this post by WahooRQ)

Posted: 01/07/2019 at 11:44AM



+2

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Current Thread:
 
  
Alexandria Ocasio-Cortez's Sane Tax Policy -- BonsackHoo 01/06/2019 6:07PM
  The Rich don’t pay taxes, the Middle Class do... -- ConnHoo 01/08/2019 07:40AM
  Shhhh....He's All In. ** -- hoothat 01/06/2019 10:53PM
  Chick's got some crazy eyes. ** -- Hoogle.com 01/06/2019 10:12PM
  You have a great understang of -- Shenhoo 01/06/2019 10:38PM
  Indeed, I agree. It is why governments are -- Shenhoo 01/07/2019 07:40AM
  What's absolutely necessary is subjective -- wahoo138 01/07/2019 07:53AM
  Smh... ** -- hoothat 01/06/2019 11:46PM
  And? Smart people have dumb ideas too. ** -- hoothat 01/06/2019 8:36PM
  What's your excuse? ** -- wahoo138 01/06/2019 9:19PM
  That was your retort? Wow. -- hoothat 01/06/2019 10:47PM
  70% is not current mainstream left wing economics. -- HoosWillWin 01/06/2019 7:15PM
  Geez. Did you even read the linked article? -- BonsackHoo 01/06/2019 7:21PM
  This guy once met EW...watch out. ** -- hoothat 01/06/2019 11:10PM
  Maybe I missed it, but has anyone in either the Senate -- HoosWillWin 01/06/2019 7:29PM
  Free market economists who are left leaning -- TomKazanski 01/06/2019 9:09PM
  I agree. An argument can be made. ** -- HoosWillWin 01/06/2019 7:46PM
  Thanks for the advice! ** -- BonsackHoo 01/06/2019 7:26PM
  You're welcome! ** -- hoothat 01/06/2019 7:27PM
  Shhh... Bonsack's All In. ** -- hoothat 01/06/2019 7:02PM
  Nope, 10% for everyone, FAIR TAX ** -- Charleston Cav 01/06/2019 7:23PM
  Is this TIC? ** -- hoothat 01/06/2019 6:32PM
  You don't have a side? ** -- BonsackHoo 01/06/2019 6:50PM
  I am not on the side of 70 percent taxes... ** -- hoothat 01/06/2019 6:53PM
  Your view has proven limited. ** -- hoothat 01/06/2019 7:03PM
  Just like your maximum post length ** -- BonsackHoo 01/06/2019 7:05PM
  Why use tons of words to say the same thing? ** -- hoothat 01/06/2019 7:10PM
  She is a superstar and an American hero. ** -- ResistHoo 01/06/2019 8:59PM
  Lets see after 60 minutes tonight ** -- BonsackHoo 01/06/2019 6:58PM
  How was your episode? Still thrilled? LOL. ** -- hoothat 01/06/2019 11:55PM
  Is this TIC? ** -- hoothat 01/06/2019 7:01PM
  They're not talking to you man -- wahoo138 01/06/2019 7:17PM

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