Author Topic: CBS this morning: should wealth have limits. Craziness.  (Read 1540 times)

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Offline darkgael

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #30 on: January 25, 2022, 02:59:52 AM »
The income tax started as a "tax the rich" tax.  It only affected people making over $25,000 a year back a little over 100 years ago.  They adjusted it down during WWII and it never went back up. 

The libs want a net worth wealth tax.  Rich people own factories, or stocks in their companies.  If all rich had to pay a "wealth tax" they would have to sell off what they own to pay the tax.  Eventually only foreigners would own all our factories, warehouses, retail shops, etc.  Why, it wouldn't stop there.  My home is worth about $450,000, why should I pay tax on my home that I bought years ago for $225,000.  If they lowered the wealth tax, I would have to sell my house to pay the tax if it became lower because they took all the money from the really rich and worked their way down. 

Liberals think wealth is a finite pie, but wealth can grow.  You get a piece of land and build something on it, it goes up in value.  The value of something is paper, not real worth. 

For instance Elon Musk had to sell some stock in his company Tesla to pay capital gains tax.  He didn't have cash.  His worth is tied up in Tesla factories, battery factories, solar panel factories, and in SpaceX rocket manufacturing.  Not cash.  Sure he is worth $180 billion, but that is not cash, it is factories.  Same with Bezos and Amazon.  Most of his wealth is tied up in Amazon factories and shipping terminals, not cash.  My wealth is tied up in my home, not cash. 

Taxing income is at least is taxing the cash you make, not on the value of your store, factory etc.  This wealth tax they are telling lies about is a back door way for the government to take your property and stuff if you don't pay the taxes.  This is pure communism.  How about the government stop spending money on things that don't produce any results.  $4 trillion on welfare and food stamps since 1965 and we still have 13% poverty like we did in 1965.  No results, just waste.
Great post…..sadly true.

Offline darkgael

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #31 on: January 25, 2022, 03:03:51 AM »
I have often thought that a “benign” dictator would solve a lot of problems. Along with that, though, i remember that “power corrupts and absolute power corrupts absolutely.”

Pete

Offline Dee

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #32 on: January 25, 2022, 03:19:20 AM »
How would a "benign" dictator come to power?
You may all go to hell, I will go to Texas. Davy Crockett

Offline Bob Riebe

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #33 on: January 25, 2022, 07:41:12 AM »
The Roman Empire, and some Kings in Europe were benign rulers, but  they died, one way or another , the the one/s that followed were evil SOBs.

Offline Dixie-Dude

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #34 on: January 25, 2022, 09:51:56 AM »
The only fair taxes are sales tax, flat income tax, and import tax.  Sales tax affects all, including the rich, as well as corporate taxes.  Food and medicine should not be taxed.  All other things such as clothing choices, vehicle choices, etc, stationary for corporations as well as corporate jets. 

Flat income tax.  Everyone pays the same regardless of income.  No deductions, which eliminates excessive IRS bureaucracy. 

Import tax.  This should be on all imported goods that can be made in the US.  If it can't be made or grown in the US, then don't tax it.  Tropical foods could be exempt that we can't grow here.  Also titanium mostly comes from Brazil or Canada, so no import tax.  This can be easily worked out. 

The flat income tax should not be above 10%.  The rich have enough deductions to pay less tax than the average person even if their tax rate is 35%.  So no deductions, just flat tax.  States should also go this route with less than 5%. 

Property should not be taxed.  Even if you own the property outright, you still have to pay property tax.  There should also not be an inheritance tax.  This is why the family farms disappeared.  A farmer's family owning 200 acres, but has $200,000 worth of farm equipment will loose half of it paying taxes, thus the children have to sell it off to pay the taxes.  Unless the farmer sells it to his kids two years before he dies.  This is not fair to the familes.  Thus the rise of cooperate farms and paper companies, in Alabama at least, buying them for growing pulp wood for paper products. 

The only constitutional way the taxes should be temporarily raised would be war or national emergency.   
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Offline billy_56081

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Re: CBS this morning: should wealth have limits. Craziness.
« Reply #35 on: January 25, 2022, 02:07:31 PM »
A flat tax of a set amount would be fair to all. Everyone pays 1000 dollars a year no matter how successful or unsuccessful they are.
99% of all Lawyers give the other 1% a bad name. What I find hilarious about this is they are such an arrogant bunch, that they all think they are in the 1%.