It should be mandatory that everyone pays the same % of their income AND welfare payments in tax. That way, those who vote for (for example) a 50% tax rate, actually mean it and are not being totally hypocritical, because they are willing to pay 50% on their own income too. We will then see people setting a rate of tax only as high as they themselves are willing to pay.
If there are different tax rates, you get monstrosities like billionaires who are paying 15% capital gains on realised hedge fund income, then voting for administrations that tax self-employed small business owners at 50% on their marginal tax dollars. Or broke-ass welfare leeches or 15k burger flippers voting for 70% soak-the-rich tax rates. The unemployed, those on welfare, will have to support a tax rate that will cut into their own welfare payments by an identical percentage.
The only way to get a fair tax rate is for everyone to pay it. Equal treatment for all, and you only inflict on others what you are willing to pay yourself. Whether it ends up as 10%, 30%, 50% or 99%, at least it will be equally fair across all strata of society. My suspicion is that silly high marginal tax rates will become a thing of the past. Even the most socialist person generally will resent handing over more than about 35% of their income in taxes IMO.
It should be mandatory that everyone pays the same % of their income AND welfare payments in tax. That way, those who vote for (for example) a 50% tax rate, actually mean it and are not being totally hypocritical, because they are willing to pay 50% on their own income too. We will then see people setting a rate of tax only as high as they themselves are willing to pay.
If there are different tax rates, you get monstrosities like billionaires who are paying 15% capital gains on realised hedge fund income, then voting for administrations that tax self-employed small business owners at 50% on their marginal tax dollars. Or broke-ass welfare leeches or 15k burger flippers voting for 70% soak-the-rich tax rates. The unemployed, those on welfare, will have to support a tax rate that will cut into their own welfare payments by an identical percentage.
The only way to get a fair tax rate is for everyone to pay it. Equal treatment for all, and you only inflict on others what you are willing to pay yourself. Whether it ends up as 10%, 30%, 50% or 99%, at least it will be equally fair across all strata of society. My suspicion is that silly high marginal tax rates will become a thing of the past. Even the most socialist person generally will resent handing over more than about 35% of their income in taxes IMO.
oh, so you're another one of these Elitist Traders that thinks you're better than a "15k burger flipper." Hey rich man, next time you want a burger why don't you flip it yourself? And while you're at it go out in the field and pick the tomato and onions that you need to make your elite life bearable. And if you're too good to frequent a burger joint, next time you plop your ass down at a fancy restauraunt go get the food yourself. The poor waitresses check is being pilferred so you can live in a fair world.
Now why don't you do just like all the others and justify your superiority based on the fact that you work smarter not harder. Man, you must be really smart. Smarter than almost everybody else in the world. As a matter of fact, almost everybody in your whole family and neghborhood and even the country you were born in must be really smart. At least smarter than all those people born in Mexico.
ok, I have had my say, carry on, what was it you were saying about 15k burger flippers?
300 million people are too many to manage. Go local. If you want to start a community of 50,000 with a tax rate of X%, go right ahead. Some wealthy feel guilt and want the taxation for whatever emotional reason. They'll move there to help out the little guy.
Can I please make enough money to leave the USA forever?
once you start collecting social security you can move to Mali and be the richest guy in the village. A house and a woman to clean it and wash your clothes, and another one to cook your food will cost about $30/mo (if you don't eat meat, about $60 if you do.)
oh, so you're another one of these Elitist Traders that thinks you're better than a "15k burger flipper." Hey rich man, next time you want a burger why don't you flip it yourself? And while you're at it go out in the field and pick the tomato and onions that you need to make your elite life bearable. And if you're too good to frequent a burger joint, next time you plop your ass down at a fancy restauraunt go get the food yourself. The poor waitresses check is being pilferred so you can live in a fair world.
Now why don't you do just like all the others and justify your superiority based on the fact that you work smarter not harder. Man, you must be really smart. Smarter than almost everybody else in the world. As a matter of fact, almost everybody in your whole family and neghborhood and even the country you were born in must be really smart. At least smarter than all those people born in Mexico.
ok, I have had my say, carry on, what was it you were saying about 15k burger flippers?
The problem with this approach is that you ignore the whole "division of labor" which has only been the driver of all human progress from the time we were monkeys to today, making it kind of important.
If the smarter guy spends time making his own burger when the burger flipper could be doing it, then what is the burger flipper going to do? Suck the smarter guy's cock for money? And that time the smarter guy spends making his own burger is time he doesn't spend doing whatever higher-value activities he'd otherwise be doing.
The combination of self-righteousness and lack of logic in posts like yours is truly depressing, especially since I know there are people who really believe that crap.
How about the optimum tax rate being the rate which generates sufficient government revenue to pay for whatever benefits the "wealthy" receive from the government?
Get a million bucks in government benefits? Then pay a million bucks in tax. Get a few thousands in benefits? Pay a few thousand.
If you look at who actually benefits from government spending, you'll find that the average high-income person gets shafted. That's what "redistribution" is. According to some studies I've seen, the average American making $100K+ pays more in federal income tax than they get in assorted benefits. Obviously, some assumptions go into the model when allocating benefits, but that seems about right to me. Other than the same government-provided services everyone uses, like roads and whatever my share of the benefit of having our military's protection, I don't use anything the government provides and certainly not to the tune that they extract taxes from me.
I don't stand for it when companies give me less in value than what I pay for their goods and services, why should I stand for it when it's "the government"? The government isn't anything special. Government is just people, and usually people of the worst, most lazy, sort.
