Taxes and productivity?

[a man of the people]

No one is arguing against progressive tax rates.

Some people do, luckily, I don't see them in this thread.

Anyway, my point was about high tax rates on the super rich (what conservatives tend to call "confiscatory tax rates", because they love them scare words), and while it is related to progressive taxation it is not the same issue.
For example, the US has a progressive tax system (not progressive enough for my liking, but that's a different discussion) but it doesn't have a very high tax rate on the super rich, though it used to have them in the past.

 

[Domingo Halliburton]

Some people do, luckily, I don't see them in this thread.

Anyway, my point was about high tax rates on the super rich (what conservatives tend to call "confiscatory tax rates", because they love them scare words), and while it is related to progressive taxation it is not the same issue.
For example, the US has a progressive tax system (not progressive enough for my liking, but that's a different discussion) but it doesn't have a very high tax rate on the super rich, though it used to have them in the past.

Where's fair? Is 37.5% not fair?

Your issue is with the tax breaks.and loopholes.

 

[a man of the people]

Where's fair? Is 37.5% not fair?

Your issue is with the tax breaks.and loopholes.

What's fair?
100% inheritance tax is fair, I mean, rewarding people based on who their parents are is the definition of unfair.

But this is not about fairness, this is about what policy can yield best results, and I think higher tax rate on the super rich can reduce inequality, increase social mobility and at the same time, not hurt the lives of the super rich in any meaningful way.

p.s.
Of all the things that are unfair in the current economic and political system, does the highest marginal tax rate really what sticks out for you?
I mean even when the US had it's highest tax bracket at 90% the system was still very very biased toward rich people (though probably not as much now).

 

[88m3]

What's fair?
100% inheritance tax is fair, I mean, rewarding people based on who their parents are is the definition of unfair.

But this is not about fairness, this is about what policy can yield best results, and I think higher tax rate on the super rich can reduce inequality, increase social mobility and at the same time, not hurt the lives of the super rich in any meaningful way.

p.s.
Of all the things that are unfair in the current economic and political system, does the highest marginal tax rate really what sticks out for you?
I mean even when the US had it's highest tax bracket at 90% the system was still very very biased toward rich people (though probably not as much now).

lol come on....

 

[CHL]

What's fair?
100% inheritance tax is fair, I mean, rewarding people based on who their parents are is the definition of unfair.

But this is not about fairness, this is about what policy can yield best results, and I think higher tax rate on the super rich can reduce inequality, increase social mobility and at the same time, not hurt the lives of the super rich in any meaningful way.

p.s.
Of all the things that are unfair in the current economic and political system, does the highest marginal tax rate really what sticks out for you?
I mean even when the US had it's highest tax bracket at 90% the system was still very very biased toward rich people (though probably not as much now).

Why are you trying to act so punitively to the rich?! Do you have a vendetta against wealth?!

 

[Domingo Halliburton]

What's fair?
100% inheritance tax is fair

Haha.....come on, bro....its labor day and I've been drinking too.

 

[Domingo Halliburton]

Why are you trying to act so punitively to the rich?! Do you have a vendetta against wealth?!

This guy is right up your alley...do they use that expression there?

 

[CHL]

Haha.....come on, bro....its labor day and I've been drinking too.

50%?

 

[Domingo Halliburton]

50%?

Its a lot more complicated when you're the police of the world.

 

[a man of the people]

Haha.....come on, bro....its labor day and I've been drinking too.

The point of my post is that it's not about fairness and you had to focus on that line?

But if you must, how is it fair that some people never have to work a day in their life just because they sprung from the right vagina?
This goes against the very idea of meritocracy.

p.s.
You don't have to address that point by the way, I was merely trying to show that the current system is amazingly unfair, not turn it into an inheritance tax thread.

 

[Domingo Halliburton]

The point of my post is that it's not about fairness and you had to focus on that line?

But if you must, how is it fair that some people never have to work a day in their life just because they sprung from the right vagina?
This goes against the very idea of meritocracy.

p.s.
You don't have to address that point by the way, I was merely trying to show that the current system is amazingly unfair, not turn it into an inheritance tax thread.

Generational wealth is not an issue to me and just reeks of jealousy.

What is your point? Because that's what I got out of it. My apologies if I'm wrong, since its "not about fairness"....lol

 

[a man of the people]

Generational wealth is not an issue to me and just reeks of jealousy.

What is your point? Because that's what I got out of it. My apologies if I'm wrong.sonce its "not about fairness"....lol

No, you're right, the idea of high taxation on the super rich is that it yield better results for the economy and society - specifically that it can reduce the concentration of wealth in the hands of select few which in turn wield an unproportional influence on our political system.

My point about fairness was simple (though probably not that well explained) - I think the system is inherently and incredibly unfair, I'm not saying we shouldn't strive to make the system fair, I'm just saying that starting and ending that discussion at the highest marginal tax bracket is a bit silly, especially when you consider that even at a higher marginal tax rate the system is still going to be amazingly biased toward rich people (i.e. unfair).

 

[GunRanger]

I know people who dont do as much overtime as they could because then they'd get killed in taxes.

 

[☑︎#VoteDemocrat]

Why are you trying to act so punitively to the rich?! Do you have a vendetta against wealth?!

argue perpetually in hyperbole when facts don't conform to your world view and agenda, brehs

 

[jilla82]

I honestly cant wrap my head around any black person that wants to give the government more power.

History shows...they (government) will fukk you over.
Why the fukk would you trust them w/ your life like that?

Its like a person that believes its OK to tax 60%+ has just given up on life.

The only reason you think its OK to tax that damn high is because you dont believe you can make much money...so you want other people to pay your way.