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Topic:
Wealth Tax [Locked] |
ineenia  Posts: 373
Registered: 2005-11-1 04:48:33
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
I've been trying to verify the numbers but I can't find a dollar number for the wealth of the top 1-10%.
There was someone claiming that a one time 12%wealth tax on the top 5% would pay our national debt down by over 50%. If his numbers are correct I'm guessing 20% wealth tax for the top 1%,10% for the top 3-5% and a 5% for 6-10% would more than pay our debt off,it would also give us a start on upgrading and repairing our infrastructure.Why the hell wouldn't we?The wealth tax would not effect anyone's ability to make a living or even drastically change anyone's lifestyle and we wouldn't be passing our debt onto our children and we would be throwing money away on interest....seems to be a no brainer to me.
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If their stupidity didn't shelter them from the full shame of their actions,their would be alot more republican suicides.
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Thugoneous  Title: Watching Caliente, BRB.
Posts: 1,128
Registered: 2002-11-2 18:00:54
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
They would be wrong. You could seize all the assets of the top 10% and it wouldn't make the slightest impact.
 lpp_video
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Lady, people aren't chocolates. D'you know what they are mostly? Bastards. Bastard-coated bastards with bastard filling.
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
ineenia posted:
I've been trying to verify the numbers but I can't find a dollar number for the wealth of the top 1-10%.
There was someone claiming that a one time 12%wealth tax on the top 5% would pay our national debt down by over 50%. If his numbers are correct I'm guessing 20% wealth tax for the top 1%,10% for the top 3-5% and a 5% for 6-10% would more than pay our debt off,it would also give us a start on upgrading and repairing our infrastructure.Why the hell wouldn't we?The wealth tax would not effect anyone's ability to make a living or even drastically change anyone's lifestyle and we wouldn't be passing our debt onto our children and we would be throwing money away on interest....seems to be a no brainer to me.
I emailed a wealthy fellow banker friend of mine and to paraphrase what he said
'FK YO COUCH!'
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Sansfear  Posts: 757
Registered: 2008-8-31 05:04:52
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
ineenia posted:
I fail at math.
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ineenia Posts: 373
Registered: 2005-11-1 04:48:33
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
the just the top ten earners made about 300 billion last and our debt is about 15.5 trillion.So just what the top 10 people made last year would make an impact.Just their earnings would pay of aprox 20% of our national debt in less than 11 years.And that is income for a year when you get into wealth the numbers are exponentially higher.
The top 400 people(according to forbes) alone have 1.5 trillion in wealth(believed to actually be considerably higher,there is a lot of hidden wealth in the US.) so they alone own enough to pay off 10%, their share of the wealth tax would be 300billion or 2% of our debt from only 400 people.We add corporations to this (remember they are people too..lol)and you're talking numbers that really make a difference.
I question the numbers of my OP myself but saying it wouldn't make a difference just isn't true.
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If their stupidity didn't shelter them from the full shame of their actions,their would be alot more republican suicides.
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Bowlartz  Title: Offical VN Tin Foil Hat Supplier
Posts: 221
Registered: 2006-1-4 19:59:15
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
http://www.usatoday.com/money/perfi/taxes/story/2012-03-20/buffett-millionaire-tax-proposal/53669452/1
The "Warren Buffet tax" would put about 31 billion in the tax coffers over 10 years. In those 10 years we will be adding 6-7 Trillion more to the debt.
The problem is way beyond taxing the rich.
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where your forum mouth is...
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Lend a little to entrepreneurs around the world so
that they can show the world how it works...
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NuEM Posts: 1,007
Registered: 2004-3-2 09:08:11
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
I bet the top 10% own a large part of your debt.
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ineenia Posts: 373
Registered: 2005-11-1 04:48:33
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
Bowlartz posted:
http://www.usatoday.com/money/perfi/taxes/story/2012-03-20/buffett-millionaire-tax-proposal/53669452/1
The "Warren Buffet tax" would put about 31 billion in the tax coffers over 10 years. In those 10 years we will be adding 6-7 Trillion more to the debt.
The problem is way beyond taxing the rich.
and this tax would collect over 300billion in one sweep just from the top 400 people.They aren't close to the same plan.you add in the other 3million+ people who'd be effected by the tax,and it adds up fast,
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If their stupidity didn't shelter them from the full shame of their actions,their would be alot more republican suicides.
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Brother_Tempus Title: Patriot
Posts: 985
Registered: 2001-1-9 08:07:00
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
ineenia posted:
Bowlartz posted:
http://www.usatoday.com/money/perfi/taxes/story/2012-03-20/buffett-millionaire-tax-proposal/53669452/1
The "Warren Buffet tax" would put about 31 billion in the tax coffers over 10 years. In those 10 years we will be adding 6-7 Trillion more to the debt.
The problem is way beyond taxing the rich.
and this tax would collect
more than what you are proposing and it still cannot even fund one year's budget much less tackle the debt
This is a spending problem that has passed the line and has mow condemmed the cuurency
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You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
Got guns & ammo? Food? Precious metals?
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GrilledCheez Title: The Lord's Balls
Posts: 1,060
Registered: 2006-3-22 11:06:32
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Date Posted:
1/1/00 12:00am
Subject:
Wealth Tax |
They should figure out a way to tax that wealth. Most people's pooled wealth lies in their ability to work and earn a wage. This is taxed. There is no reason not to tax those who earn their living through their pooled wealth. We need to do away with cap gains on any income over a couple hundred k a year and call it regular income, and we need to figure out a way to tax hoarded wealth.
Those are good ideas regardless of how much revenue it will generate.
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Another word for expensive is successful.
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