The Soapbox

HoosWillWin

Joined: 08/26/2001 Posts: 11327
Likes: 17050


This is a very complex topic. It isn't just jealousy. There are


valid concerns about power imbalance between the wealthy and the poor when it gets too out of whack, though the US has always had some seriously wealthy people. However, it isn't just money - things like campaign finance reform are needed to limit contributions to super pacs as well as disclosure of donors for non profits (where foreign money may also be hiding - see the NRA for a recent example).

Regarding taxes, IMO, there is a lot of room for dramatically increasing the income and/or capital gains tax rates at the very highest levels, but I obviously haven't done the math. I agree that taxing wealth would be a huge change in philosophy and probably is not possible. However, I find it funny that people complain about the rich being taxed unfairly, and that is true if you look at it from an income tax as % of income. However if you look at it either with including payroll taxes and/or as a percent of wealth, you get a very different picture.

(In response to this post by BocaHoo91)

Posted: 11/18/2019 at 09:07AM



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Current Thread:
 
  
Wait, so Warren's billionaire tax is now up to 6%. So -- BocaHoo91 11/18/2019 07:13AM
  You seem to be missing quite a bit here. -- WahooRQ 11/18/2019 09:22AM
  This attitude has always made me laugh. -- SchmHoo 11/18/2019 2:37PM
  Yeah, you’re right. Bernie getting saying -- BocaHoo91 11/18/2019 4:21PM
  Your complaint should be with the Bern and Warren. -- hoolstoptheheels 11/18/2019 3:22PM
  That’s certainly the narrative. ** -- SchmHoo 11/18/2019 3:32PM
  It isn't a false narrative. Bern actually posted that. -- hoolstoptheheels 11/18/2019 4:09PM
  Nobody thinks Warren has really covered the cost of her plan(s). -- hoolstoptheheels 11/18/2019 09:59AM
  Imposed Medicare for all is a bad political -- Shenhoo 11/18/2019 09:15AM
  Does that come close to paying for it? ** -- Tuckahokie 11/18/2019 09:06AM
  We spend far beyond what the rich make and have ** -- HokieDan95 11/18/2019 08:21AM
  WaxHoo can't wait to STAND WITH HER. ** -- HootiesJohnson 11/18/2019 08:17AM
  "Stands With Fist" ** -- Tuckahokie 11/18/2019 08:25AM
  What hyperbole are you referring to? ** -- BocaHoo91 11/18/2019 08:00AM
  Correct - it is tapping a populist vein. -- hoolstoptheheels 11/18/2019 08:19AM
  Mostly, the complexity of the tax code itself favors the rich. -- hoolstoptheheels 11/18/2019 08:38AM
  Those things are the tip of the iceberg. -- hoolstoptheheels 11/18/2019 1:19PM
  See mundane system reforms. :) ** -- Seattle .Hoo 11/18/2019 08:40AM
  Unfortunately, I agree. ** -- HoosWillWin 11/18/2019 07:45AM
  Yes. 6% of wealth. Plus 39.6% on any -- BocaHoo91 11/18/2019 07:39AM
  Ooops - forgot the link. Included here. -- hoolstoptheheels 11/18/2019 08:13AM
  CNBC discussed this this morning... -- Stimp 11/18/2019 09:17AM
  That's what triggered my post. -- BocaHoo91 11/18/2019 09:59AM
  Hmm. I guess she needs a new campaign site webmaster. ** -- hoolstoptheheels 11/18/2019 08:47AM
  What changes the argument? I don’t follow. ** -- BocaHoo91 11/18/2019 07:58AM
  I wasn't aware she was taxing wealth. ** -- HoosWillWin 11/18/2019 08:05AM

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