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Thread: What Taxing the Rich Could Yield

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    Default What Taxing the Rich Could Yield

    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-ta...ch-could-yield


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    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

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

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    Quote Originally Posted by Dark Soul View Post
    Of course, the premise that rich families are bad for the economy has never been explained....
    Envy.

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    What Taxing the Rich Could Yield

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

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    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!

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    Quote Originally Posted by Dark Soul View Post
    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!

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    Quote Originally Posted by iolo View Post
    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?

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    Quote Originally Posted by Dark Soul View Post
    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.

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    Quote Originally Posted by iolo View Post
    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?

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    Quote Originally Posted by Legion View Post
    Will you rise up?
    Nah, just post like you, but via one ID.

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    Quote Originally Posted by iolo View Post
    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.

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    Quote Originally Posted by Frank Apisa View Post
    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?

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    Quote Originally Posted by iolo View Post
    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?

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    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!

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