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 Post subject: Re: Tax Reform
PostPosted: January 31 19, 8:35 pm 
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A few more thoughts on taxation, birth lottery, and people that make their fortunes on their own:

Looking at the impotency of estate tax, with the #s, I am getting to be in favor of eliminating it too. The structure for administering estate taxation is hardly worth maintaining as it is. I think the GOP wants it around, just to trot out the DEATH TAX talk to scare a few more donations out of some senile rich person and votes out of all the "frustrated m/billionaires in waiting." It ain't worth it.

Besides, the goverment isn't what screws up these inheritance shifts anyway. If anyone manages to kill the familial Golden Goose, which is incredibly hard to do in America, it's the money grubbing heirs squabbling and pissing it away. We tend to think it's giving this hard-earned fortune on to the children [expletive], most people decide to part with it until they are older than [expletive]. So these heirs....they are almost always old too.

There has to be a way to tax wealth if we want to spend more on military than any other country. Wealthy Beneficiaries aren't taxed like we are -pffft their principal part of their wealth is untouched by most taxes (except real estate tax). Their income is almost always investment income, which gets far preferential tax treatment than our wages. Someone like Trump, could lose money on his [expletive] businesses and never pay taxes, but still have enough to be wealthy, or enough collateral to borrow against and live large. And lose that borrowed money, but have favorable bankruptcy law and banks married to losers like Trump. The income of Wyatt Koch gets sheltered with his shirt business. Are the yachts planes and luxury vehicles on the on the books? We will never know, as the IRS is currently hamstrung and castrated enuchs when it comes to the rich

Come to think of it, Wyatt Koch rich boy doesn't bother me that much. Party it up brother. It's his Dad/Uncle Koch and Besty Devos Erik Prince, and the POTUS family that aren't content to just enjoy the good fortune into which they were born. They have to spread their [expletive] religious ideology and prosperity Gospel bull [expletive] far and wide.


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 Post subject: Re: Tax Reform
PostPosted: January 31 19, 11:49 pm 
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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 12:03 am 
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InvincibleCakeEater wrote:


Along those lines, one of my favorite perspective things... a million seconds is like 11 days. A billion seconds is 31.5 years.


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 7:55 am 
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$1 million to Jeff Bezos is equivalent to less than $10 to someone who has $1 million.

Buying a Ferrari to him is like a millionaire tipping a barista. Or like a normal person dropping a couple pennies in the tray at the gas station.


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 9:20 am 
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Diddy wrote:
2. No one is wanting it taxed at an appropriate rate, they are arguing for it to be taxed at an exorbitant rate.



I disagree that it is exorbitant. The thing that is exorbitant is their wealth. All their profit comes from other people's labor. Bezos maybe did a lot of work in the beginning, now he doesn't have to lift a finger, while Amazon employees are so overworked they don't get bathroom breaks.

The other thing about Amazon is they really didn't do anything that innovative. We've literally had catalogs you could buy mail order stuff from for like a hundred years. Amazon is like the logical acceleration of the old Sears catalog - it's just a much bigger, much faster version of that. They really did not invent a single thing that is "new". They just took existing ideas and technologies and poured billions in capital into them, took a loss for almost 20 years in order to bankrupt smaller competitors and steal market share, and now they are raking it in.

If you look around to many of the other billionaires, they did similar things. Microsoft also had anti-trust issues, and their big idea of a graphical user interface was originated by Xerox. Wal-Mart is a ton like Amazon, except they failed to capitalize on the internet. Even Apple is more of a marketing juggernaut than a cutting edge innovator (all the technology in their phones were developed by government-funded research - GPS, touch screen, the microchip, etc).

And to reiterate, we are talking about the billionaires. The wealthiest of the wealthy. We are not talking about the people that "only" have like $100 million. Those people are obscenely wealthy and won't even be affected by Bernie's proposal.


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 10:05 am 
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Apologies for the misdirected anger.


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 10:19 am 
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Jocephus wrote:


here's the guys twitter fwiw/fyi


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 10:31 am 
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This was an interesting take. It basically says that the ultra-wealthy have told us we can't have things like Medicare for All because "we have no way to pay for it". People are now arguing back that, "Yeah, we have no way to pay for it because you have all the money". This guy argues that we don't even need to tax the rich higher, we need to just go further into deficit spending, but spending it on programs to benefit the poor and not the rich...I think it is a good idea to get away from this idea that "all deficit spending is bad" but the main reason I think the wealthiest of the wealthy need to be taxed is because all that wealth buys immense political power, and our system is very warped in their favor because of that.

https://www.bloomberg.com/opinion/artic ... cape-taxes


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 1:56 pm 
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Diddy wrote:
2. No one is wanting it taxed at an appropriate rate, they are arguing for it to be taxed at an exorbitant rate.


So then you think that the tax rates that enabled the United States to grow its middle class and build the national infrastructure we rely on to this day were wrong? You think that Dwight D Eisenhower was a socialist?


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 Post subject: Re: Tax Reform
PostPosted: February 1 19, 2:03 pm 
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G. Keenan wrote:
Diddy wrote:
2. No one is wanting it taxed at an appropriate rate, they are arguing for it to be taxed at an exorbitant rate.


So then you think that the tax rates that enabled the United States to grow its middle class and build the national infrastructure we rely on to this day were wrong? You think that Dwight D Eisenhower was a socialist?

Don't get me started on that damn commie. Red bastard. Stalin's puppet. Right?! Right!?!?!


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