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    Forums ›› Main ›› Economics ›› What is the optimum tax rate on the wealthy?  

Tax rate on the wealthy (say earners of > 1M a year)
You do not have permission to vote on this poll.
0 - 10% 20 20.20%
11% - 20% 14 14.14%
21% - 30% 17 17.17%
31% - 40% 10 10.10%
41% - 50% 11 11.11%
51% - 60% 3 3.03%
61% - 70% 17 17.17%
I don't know 2 2.02%
I don't care 5 5.05%
Total: 99 votes 100%
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blackjack007
 

Registered: Aug 2007
Posts: 1269

 

12-02-11 06:11 PM

the solution is simple..

have a progressive tax structure like now, perhaps with a 50% top rate, but the more income taxes you pay, the more votes you get. everyone gets 1 vote minimum; there would be a 500-vote cap maximum.

this makes it fair; if you pay more into the system, you should have a greater say in how your money is spent. it makes no sense that a person with no skin the game has a right to dictate how other people's taxes are being spent.

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oldtime
 

Registered: Jun 2011
Posts: 7479

 

12-02-11 06:29 PM


Quote from Humpy:

Talking of FAIRNESS ( yeah I know a dirty word in some places ) I would like to see ALL pensions put into 1 pot and paid out equally.

Never happen in the US but could and should happen elsewhere. Now that winter is here again many pensioners are having to make a difficult choice between turning on the heating and buying food !!Either way their life expectancy is shortened to weeks.

The rich don't need huge pensions as well !! But the worse off really should have a bit of comfort and dignity for the last few years of their lives !!

Humpy, you're talking about a village where before a child is conceived everyone has always done their best to care for and teach respect and responsibility to the mother and father. Why would any child born today want to take care of me in my old age? What did I ever do for them?

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oldtime
 

Registered: Jun 2011
Posts: 7479

 

12-02-11 06:45 PM


Quote from Random.Capital:

You can't meaningfully answer the tax rate question without first answering the spending question.

the spending question will never be addressed until the tax question is exhausted. Taxes have a finite rate of 100%. No one knows what the spending limit is. Are you sure we are not trying to legislate morality? Sounds to me like we are trying to pass laws which force people to be compassionate. We could just as easily pass a law reducing the penalty for stealing jewelry and limousines from a felony to a misdemeanor. They do this all the time in the NFL to make the game more enjoyable for everyone, especially fans of the underdogs.

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Swan Noir
 

Registered: Jun 2009
Posts: 1733

 

12-02-11 06:52 PM

I think there is a more straightforward way to accomplish a very similar end. No one starts out with the right to vote -- not at 18, 21 or 35. It is paying into the common weal that earns it. Since most (probably 80%+) of legislative decisions revolve around how tax dollars are spent as blackjack says ya gotta have skin in the game.

You earn the initial right to vote by paying some minimal amount of income tax say $2,000 -- not SS, medicare etc. INCOME TAX! As long as you have paid that minimal amount in taxes for two of the past three years you keep voting. If you fall off the voting rolls because you haven't met the two out of three requirement you get back on when you again meet it.

Put the skin in and get your say. You just can't be in the pot if you don't ante up. It may seem radical but we need radical NOW!


Quote from blackjack007:

the solution is simple..

have a progressive tax structure like now, perhaps with a 50% top rate, but the more income taxes you pay, the more votes you get. everyone gets 1 vote minimum; there would be a 500-vote cap maximum.

this makes it fair; if you pay more into the system, you should have a greater say in how your money is spent. it makes no sense that a person with no skin the game has a right to dictate how other people's taxes are being spent.

    Edit/Delete Quote Complain
oldtime
 

Registered: Jun 2011
Posts: 7479

 

12-02-11 07:35 PM


Quote from Swan Noir:

I think there is a more straightforward way to accomplish a very similar end. No one starts out with the right to vote -- not at 18, 21 or 35. It is paying into the common weal that earns it. Since most (probably 80%+) of legislative decisions revolve around how tax dollars are spent as blackjack says ya gotta have skin in the game.

You earn the initial right to vote by paying some minimal amount of income tax say $2,000 -- not SS, medicare etc. INCOME TAX! As long as you have paid that minimal amount in taxes for two of the past three years you keep voting. If you fall off the voting rolls because you haven't met the two out of three requirement you get back on when you again meet it.

Put the skin in and get your say. You just can't be in the pot if you don't ante up. It may seem radical but we need radical NOW!

yeah, I think they already tried that. That's why my family said the hell with you. We moved. Sounds like you are still imprisoned in England. How's that poll tax working out for you? I try to think of myself as opened minded. I don't know, maybe I was just brainwashed very well. We don't always know what we want, but all it takes is one sentence to remind me of England and I go ballistic. We sure as hell know what we don't want and what we will never go back to.

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Swan Noir
 

Registered: Jun 2009
Posts: 1733

 

12-02-11 07:44 PM

I'm not conversant with UK voting procedures but the term poll tax in the US has an entirely different meaning than what you are referring to. It was a tax (frequently accompanied by a literacy test) at the poll before you voted. The literacy test for white people in certain Southern Counties was essentially what does 2+2 equal and for blacks it was about the theory of relativity. It disappeared in 70's when courts began to rule against it.


Quote from oldtime:

yeah, I think they already tried that. That's why my family said the hell with you. We moved. Sounds like you are still imprisoned in England. How's that poll tax working out for you? I try to think of myself as opened minded. I don't know, maybe I was just brainwashed very well. We don't always know what we want, but all it takes is one sentence to remind me of England and I go ballistic. We sure as hell know what we don't want and what we will never go back to.

    Edit/Delete Quote Complain
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