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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)
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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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MKTrader
 

Registered: Dec 2005
Posts: 2215

 

11-30-11 01:30 PM


Quote from Swan Noir:


I realize that I am speaking of voluntary behavior here and that is worlds apart from the tax man putting his hand in our pockets making the question you pose more relevant than my example but when I hear about companies with openings posting that they will only interview those that are currently employed it makes me cringe.




On the flip side, there are plenty of job vacancies in certain industries and regions. Many are still holding out for a better job that isn't "beneath" them, especially if they can get unemployment, food stamps, SSI, etc. Not sure what happened to the "I'll take a job digging ditches or delivering pizzas if I have to feed my family" mentality.

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Mayhem
 

Registered: Nov 2009
Posts: 147

 

11-30-11 03:39 PM


Quote from MKTrader:

Many are still holding out for a better job that isn't "beneath" them, especially if they can get unemployment, food stamps, SSI, etc. Not sure what happened to the "I'll take a job digging ditches or delivering pizzas if I have to feed my family" mentality.



That mentality died when leisure suits, Plato's Retreat, and Studio 54 became stylish.

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StarDust9182
 

Registered: May 2011
Posts: 486

 

11-30-11 04:16 PM

While I don't care, since I can adjust given enough time, I do wonder why you refer to wealthy which is based on net worth or assets and talk about an income tax. Aren't income and wealth different things?

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peilthetraveler
 

Registered: Jun 2005
Posts: 7057

 

11-30-11 08:41 PM

I like the idea of a 10% tax on everyone on anything you make (no tax loopholes for this) which goes to providing for the common good (roads, schools, military, ect) then another non-mandatory 10% to go to charity(welfare, food stamps, social security, medicare, ect) The non-mandatory 10% you only dont have to pay if you write a letter once per year explaining why you dont want to pay that 10% of which that letter will be public record that anyone can see it if they want. Otherwise it will be automatically deducted.

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piezoe
 

Registered: Jan 2006
Posts: 4924

 

11-30-11 10:02 PM


Quote from Occam:

The real issue isn't so much the tax rate, but the byzantine and consumption-encouraging manner in which things are taxed (or not taxed, or subsidized). The US generally taxes productivity and profitability rather than consumption. Coupled with the pork-barrel politics of deductions/subsidies, we've got a problem that can't be fixed by simply raising rates.



Yes!

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Free Thinker
 

Registered: Nov 1999
Posts: 14316

 

11-30-11 10:10 PM


Quote from Ghost of Cutten:

Should be identical to the tax rate on everyone else. Different tax rates for different earnings violates equal treatment under the law.



"Should be identical to the tax rate on everyone else."
the graduated income tax does exactly this. everyone pays the same tax at the bracket. a person making a million pays the same rate on the first 25k as a person making 50k.

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