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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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Mvector

Registered: Oct 2010
Posts: 772

11-29-11 11:08 PM

Flat tax for everyone - one rate - 15% with zero deductions - cap gains at 15% too.

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oldtime

Registered: Jun 2011
Posts: 7357

11-29-11 11:56 PM

I can't remember if it was Cassius Clay or Mohammed Ali, but one of those fights paid him over a million dollars. And many whites were outraged that a black man could make that kind of money, but they were calmed down when it was pointed out that he was in the 90% tax bracket.

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tommintj

Registered: Jun 2009
Posts: 37

11-30-11 12:13 AM

Why doesn't the goverment pay for itself? The government uses people, facilities, and assets in its "activities" just like business. Why does governement tax other entities instead of charging fair arms length prices for its "services"? Taxes should only cover goods and services that businesses cannot provide or if there is common agreement that cost recovery mechanisms would be a substantial and excessive portion of the cost (think parks, roads)

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oldtime

Registered: Jun 2011
Posts: 7357

11-30-11 12:24 AM

taxes are progressive because the poor don't give a shit about Afghanistan, only the rich want to fight that war so they should be the ones who pay for it. The rich don't mind paying for a Whitehouse dinner because they may be invited. Why should my trash man have his check pillfered so Michelle Obama can serve the proper wine?

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bullmarket79

Registered: Mar 2002
Posts: 490

11-30-11 12:34 AM

lol Hong Kong and Singapore, yeh two global giants there. The Wisconsin National Guard could take care of them all by itself. In regards to charging what the govt service cost sounds like capitalism, were spending hundreds of billions pr yr on protecting foreign nations, charge em, were spending $980 million this year training foreign troops, out of the State Department budget. Most people when going to college or trade school must pay for their own education, why are WE paying for this?

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oldtime

Registered: Jun 2011
Posts: 7357

11-30-11 12:59 AM

Quote from Grandluxe:

Hongkong and Singapore have a max tax rate of 18-20%, so i think thats an okay amount for a capitalist society

a poor person in Hong Kong may look at the United States and say "US has a tax rate of 38% so I think that is ok for a capitalist society."

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