In response to:

Fiscal Cliff? Tax the Rich

Linda1538 Wrote: Nov 10, 2012 8:46 AM
In my humble opinion it would be fair if EVERYONE paid taxes. If you don't pay taxes, you won't care about taxes being raised!!! Let's implement a flat tax.
Tacitus X Wrote: Nov 10, 2012 9:04 AM
A national sales tax is a much better idea. Liberal billionaires like Buffett love income tax hikes because they don't pay them. Almost none of their billions are "income": it's all accumulated wealth, capital gains, sheltered trusts, etc. If Buffett spends 1,000 time more than Joe the Plumber he should pay 1,000 times more taxes. Under a sales tax everyone has a stake in keeping taxes low, even welfare recipients. You also eliminate the moral hazard of some voting to tax others - which is why 50% don't pay any income tax. Why would they support a tax cut?
Networker Wrote: Nov 10, 2012 9:20 AM
I'm interested in a flat tax
Scrap Iron in Texas Wrote: Nov 10, 2012 9:47 AM
Are you willing to tax a family pf four that earns, say, $29,000?
Currently, the standard deduction eliminate almost all income taxes on them.
You do know our current income tax started out AS a flat tax, and only on the wealthy, right?
Daddio7 Wrote: Nov 10, 2012 11:44 AM
Rich people consume 100 times as much as the average Joe but earn 1000 times as much. A consumption tax is very regressive. Being taxed in relation to your benefit from society is much fairer. The wealthy are going to stick their cash in their mattress if they can ONLY earn 70% on their investment instead of 85%? I don't think so.
Tacitus X Wrote: Nov 10, 2012 3:09 PM
Tax policy is a lousy way of providing charity. I am willing to tax someone who makes $1 a year. Everyone pays a sales tax. To the extent they need charity they need to look to voluntary charity. If you're worried people won't give "enough" you are free to give more.
Tacitus X Wrote: Nov 10, 2012 3:10 PM
Nowhere near as "regressive" as trust fund millionaires paying zero income taxes. What do you think the rich are doing with the money they don't consume? They invest it productively and that capital investment is what allows for higher wages, more jobs, etc. How would you calculate someone's "benefit from society"? Everthing a welfare recipient gets is a benefit from society and they are supplying zero benefits to society. The return of capital by people like Steve Jobs is a miniscule % of the benefit that they supply to society.
Networker Wrote: Nov 10, 2012 8:48 AM
Everyone pays some tax, even if they don't work.

Barack Obama wants you to know that the rich are out of control.

And I partially agree. It’s a matter of fairness.

After thinking about it for a few years, he has finally figured out that our economic problems have a very simple explanation: There are too many rich people.

I know of at least one too many. The one occupying the White House? Way too rich.

(Editor's note: I'm taking a few days off. I'll see you guys again on Tuesday)

Too many rich people are causing a jobless “recovery.” Having too many rich people caused gas...

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