A lot of European countries abandoned wealth taxes because it's too east for the rich to move money between entities and avoid ever paying. The tax lawyers make more and that's about all that changes. European social benefits are funded with high taxes on the middle class. Yes the income tax at higher earnings is huge, but the capital gains tax and estate taxes are often lower than in the US.statefan91 said:Broke it down a little bit for ease of reading, appreciate your response. I agree with a lot of your points. The ones I disagree with to some degree are related to wealth. Even those like Elizabeth Warren who I think most would agree are on the far end of the "tax the rich" spectrum, is only proposing a small tax on those with fortunes $50MM+, and it would only apply to the money after $50MM.RunsWithWolves26 said:statefan91 said:
RWW26 - I have GP on ignore so no idea what his circus is saying.
You've mentioned a number of times that you don't align with either party. Can I ask what your views are? What is most important to you?
- Sure. I don't believe any person, president, governor, congressman or congresswoman ect. has any right to tell a woman of she can or can't have an abortion.
- I don't believe any person has the right to tell any man or woman who he or she can or can't love and can or can't marry.
- I don't believe any person has the right to demand others pay higher taxes simply because they have more money and I don't believe any person has the right the freely take from the wealthy to give to the poor.
- At the same time, I don't believe any person has the right to pass policies that benefit the wealthy specifically at the expense of the less wealthy and vis versa.
- I also don't believe any person has the right to to tell any person how they should go about living their lives when it comes to.things such as solar panels, or solar powered vehicles, or charging more because you aren't using energy efficient lightbulbs.
- I do believe that government serves a purpose in that it does help to define laws, regulations, etc.
- I just don't believe, in the system we have now, that it is done in a way that benefits the WHOLE. I believe it is done in a way that benefits the SOME.
- The left and the right both scream and yell about this and that, but in the end, they both want the same thing. Complete control that benefits the SOME and not the WHOLE.
- My wish, hope, and dream is that somehow and someway, we revert back to actually having a thing called states rights and an election not based on the electoral college(yes, that's a discussion for a different day).
- For now, I can't align myself with either party because both parties have gone so far left and right that I just can't find any common ground with them.
I don't think a plan like that is too outlandish, and the projections of what it would generate are astounding. There is a lot of wealth in this country that sits in banks for generations doing little productive for the society.
Also, wealth that "sits in banks for generations doing little productive for the society," doesn't really make sense. That wealth is invested in companies and assets that are improving GDP. Wealth in banks does not just sit there like a gold buried in the back yard. It's actively being loaned, spent, and circulating in the economy.
BTW RWW, I believe most posters in the thread so far are some mix of moderate. There are a few who are definitely not.