What Taxing the Rich Could Yield

[signalmankenneth]

America’s 15 wealthiest families are worth a combined $618 billion. That’s not good for our economy—or our democracy.

The New York Times investigation into the Trump family’s financial misdeeds recently revealed what had been obvious to most: The president is no self-made man. Like so many bombshell stories about the president, this story has been largely overlooked as new and more flagrant Trump indignities erupt nearly every day. Yet the tactics that the report shines a light on are hardly peculiar to the Trumps. Many wealthy families use similar tactics to stockpile their wealth and keep it from taxation that could reinvest it to meet the nation’s needs. And in doing so, these families keep building wealth with which they can wield political power.

A new report from the Institute for Policy Studies (IPS) takes a close look at the billionaire multi-generation families who wield that power—the American dynasties. Taking their cue from the Forbes 400 list of the wealthiest people in the United States, the report, "Billionaire Bonanza," by Chuck Collins, director of the Program on Inequality and the Common Good, and Josh Hoxie, director of the Project on Opportunity and Taxation, both at IPS, details how the nation’s 15 wealthiest families—some with household names (Walton, Koch, Mars), some perhaps less-known (Duncan, Bass, Stryker)—are worth a combined $618 billion.

Overwhelmingly, this is inherited money; the companies from which these families derive their wealth were all started at least a generation ago.

https://prospect.org/article/what-taxing-rich-could-yield

 

[cawacko]

Brown pushed for and backed prop 30 but he was also in office during boomtimes for the stock market which is where California generates much of its revenue. Taxes were already high before he took office

 

[MAGA MAN]

Of course, the premise that rich families are bad for the economy has never been explained....

 

[Flash]

Of course, the premise that rich families are bad for the economy has never been explained....

Envy.

 

[Fentoine Lum]

What Taxing the Rich Could Yield

The post WWII economy pre-Reaganomics/neoliberal economic system.

 

[Ross Dolan]

In my opinion:

Taxing income at a much greater rate as the income goes up...MAKES SENSE. It should be done starting tomorrow.

Taxing capital gains at the same rate as regular income...MAKES SENSE. It should be done starting tomorrow.

Taxing inherited money at a MUCH HIGHER RATE as the amount of the inheritance goes up...MAKES SENSE. It should be done starting later today!

 

[iolo]

Of course, the premise that rich families are bad for the economy has never been explained....

Well, if they steal everything, the mugs starve. Meanwhile they prevent the development of as normal health service, so the poor die, despite the system's costing twice what it should. It is amazing you mugs can read and write, fair play!

 

[MAGA MAN]

Well, if they steal everything, the mugs starve. Meanwhile they prevent the development of as normal health service, so the poor die, despite the system's costing twice what it should. It is amazing you mugs can read and write, fair play!

Perhaps you can explain to me how the rich take "take" from the "mugs". What resource, specifically, is limiting such that the mugs go without?

 

[iolo]

Perhaps you can explain to me how the rich take "take" from the "mugs". What resource, specifically, is limiting such that the mugs go without?

The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.

 

[Legion]

The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.

Will you rise up?

 

[Fentoine Lum]

Will you rise up?

Nah, just post like you, but via one ID.

 

[Fentoine Lum]

The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.

Not much of a step away from feudalism as it turns out, of course in america the aristocracy will be blessed with socialism on the backs of the people.

 

[canceled.2021.1]

In my opinion:

Taxing income at a much greater rate as the income goes up...MAKES SENSE. It should be done starting tomorrow.

Taxing capital gains at the same rate as regular income...MAKES SENSE. It should be done starting tomorrow.

Taxing inherited money at a MUCH HIGHER RATE as the amount of the inheritance goes up...MAKES SENSE. It should be done starting later today!

It always makes sense to poor people like you who won’t have to pay it.

You are too close to dying to spend your final days being jealous of others success

How is their wealth hurting you?

 

[MAGA MAN]

The value of a commodity is the socially necessary labour time put into it. The rich steal the difference between the value and the meagre pittance they pay those who create the commodity.

The rich take the risk to build the company and have the talent to sustain it. The workers have to make not only their own worth but a profit back to the owner to justify employing him.

But that is just your distraction from my earlier point. What resource, specifically, is limiting such that the rich take it all and mugs go without?

 

[Troll]

If you just work hard enough you will be extremely wealthy too. That is why taxing them is bad.
Stay tuned for more Fox Fairy Tales with Hannity, at 11!

 

[Ross Dolan]

It always makes sense to poor people like you who won’t have to pay it.

It must be horrible to have to live your life, IHA. I truly pity you.

You are too close to dying to spend your final days being jealous of others success

I am not jealous of other's successes. I am commenting on some ideas to ease the problems our nation is experiencing right now.

How is their wealth hurting you?

If we could handle what has to be handled...do the jobs that must be done in this nation...

...I would not give a rat's ass if some people had a billion times as much as others...or a trillion times as much as I have. I am simply not a money motivated person. My daydreams never involve having lots of money and things.

In any case, that is not the problem being discussed here at the moment...although for a person with the lack of insight you have, most problems probably resolve themselves into the grammar school evaluations you come up with.

 

[Getin the ring]

In my opinion:

Taxing income at a much greater rate as the income goes up...MAKES SENSE. It should be done starting tomorrow.

to who? so essentially penalizing someone for being successful? very American of you Frank

Taxing capital gains at the same rate as regular income...MAKES SENSE. It should be done starting tomorrow.

to who, again if you want to live in a free society, where your success is only limited by your ambition, isn't that what America stands for Frank, I'm confused why you don't get that

Taxing inherited money at a MUCH HIGHER RATE as the amount of the inheritance goes up...MAKES SENSE. It should be done starting later today!

so in your America we should tax someones money, especially someone who has enough to leave some to their children, at a "much higher rate", that's your words
and then
tax that money again after it is passed down, I assume at a "much larger rate" also?

why are you so bitter and confused frank, did a rich guy do something to you at some point, is this personal with you, Frank?

And another question about your "end game"
this extra tax money that the government collects under your system, they are going to spend it wisely? maybe we can pass a law that says all of this additional tax money from rich people MUST BE USED WISELY!!!!
really Frank?

 

[LV426]

Perhaps you can explain to me how the rich take "take" from the "mugs". What resource, specifically, is limiting such that the mugs go without?

Wages.

That's what the rich take from everyone.

The rich take more of the wealth, leaving everyone else with less to spend.

If you cannot see where that inevitably leads, then it's an act of willful ignorance on your part. You're being deliberately obtuse because you don't want to admit your judgment sucks. That's bad faith.

 

[MAGA MAN]

Wages.

That's what the rich take from everyone.

The rich take more of the wealth, leaving everyone else with less to spend.

The rich take the risk to build the company and have the talent to sustain it. The workers have to make not only their own worth but a profit back to the owner to justify employing him.

 

[canceled.2021.1]

It must be horrible to have to live your life, IHA. I truly pity you.



I am not jealous of other's successes. I am commenting on some ideas to ease the problems our nation is experiencing right now.



If we could handle what has to be handled...do the jobs that must be done in this nation...

...I would not give a rat's ass if some people had a billion times as much as others...or a trillion times as much as I have. I am simply not a money motivated person. My daydreams never involve having lots of money and things.

In any case, that is not the problem being discussed here at the moment...although for a person with the lack of insight you have, most problems probably resolve themselves into the grammar school evaluations you come up with.

Leftists answer to everything is TAX THE RICH