Isn't the solution higher taxes on the rich?

[Bill Fishlore]

wait.......taxation adversely effects the economy?......

Taxation is a necessary business expense. Taxation makes the economy possible. Without tax revenue there would be no roads, bridges, police, legal system -- all the things without which a modern economy is impossible. In addition, without government health, education, and welfare support a modern workforce would not exist.

[chink]

http://www.dailynews.com/social-affa...ouncilman-says

Supposedly California is the sixth biggest economy in the world. Surely they can afford to give all of their homeless housing. They are home to some of the richest people in the world. Surely we can tax them more in order to make sure children aren't living in the streets.

I thought these people were compassionate

the answer to your question is no,although i thank the 15% capital gains tax ripoff needs to go.

[chink]

Taxation is a necessary business expense. Taxation makes the economy possible. Without tax revenue there would be no roads, bridges, police, legal system -- all the things without which a modern economy is impossible. In addition, without government health, education, and welfare support a modern workforce would not exist.

it looks like we just might get rid of the state tax deduction ,no more ;;;;;;;;;;;;;;;;;;

First, let’s start with why the state and local deduction is a problematic provision that needs to go from a policy standpoint. The biggest problem with the state and local deduction - one of the largest deductions in the federal code - is that it entices states and municipalities to tax and spend more than they would without it.

,no more subsidizing high tax states

[Bill Fishlore]

the answer to your question is no,although i thank the 15% capital gains tax ripoff needs to go.

The way that capital is taxed is indeed obsolete and unfair. We need to rethink the basis of all our taxes. Taxes are levied on profit. Profit comes from the action of labor on invested capital. In everyday terms, this means workers using tools, facilities and materials bought by whoever is paying the worker to use them. This is true whether we are talking about a steel mill, a pizza shop, a car factory, a shopping mall or a surgical hospital.

So far, so good. When we consider how much of that taxable profit comes from labor (salaries) versus invested capital, we see that we are in the biggest technological revolution since the invention of the steam engine because of very recent computer and automation technologies.

Computers and robots aren't cheap; neither are workers. But labor costs are shrinking as a creator of profit because money invested in them multiplies the productivity per worker enormously. Computers wiped out the jobs of bank tellers with the ATM machine a generation ago. Now, self-driving trucks are about to take away CDL jobs, some of the best available without a degree. Even lawyers are being cut thanks to new legal software and doctors can perform surgery on the Internet.

So, when we look a dollar of profit, we see that more and more of it comes from capital invested in productivity technology and less and less comes from human labor. Workers are becoming obsolete. Heavy industry has more than doubled worker productivity -- meaning half the workers are needed. Services, even retail is undergoing the same transformation.

What this means in terms of tax revenue is that our system of taxing labor (income tax) is crushing people as wages stagnate and good jobs are harder to find while the robots who are making the real money pay less in taxes on the wealth they create than humans do. It's time to give humans a break and tax robots at the same rate or higher than Americans.

[MAGA MAN]

Tax robots?

[PostmodernProphet]

Taxation is a necessary business expense. Taxation makes the economy possible. Without tax revenue there would be no roads, bridges, police, legal system -- all the things without which a modern economy is impossible. In addition, without government health, education, and welfare support a modern workforce would not exist.

and, according to you, if California raises taxes as much as it wants to and other states aren't forced to match it, it would hurt their economy.....in other words, you want everyone to hurt their economy equally....

[PostmodernProphet]

the answer to your question is no,although i thank the 15% capital gains tax ripoff needs to go.

I run a business escrowing funds for 1031 tax exchanges to defer capital gains taxes, how do you feel about those?.......

[PostmodernProphet]

The way that capital is taxed is indeed obsolete and unfair. We need to rethink the basis of all our taxes. Taxes are levied on profit. Profit comes from the action of labor on invested capital. In everyday terms, this means workers using tools, facilities and materials bought by whoever is paying the worker to use them. This is true whether we are talking about a steel mill, a pizza shop, a car factory, a shopping mall or a surgical hospital.

So far, so good. When we consider how much of that taxable profit comes from labor (salaries) versus invested capital, we see that we are in the biggest technological revolution since the invention of the steam engine because of very recent computer and automation technologies.

Computers and robots aren't cheap; neither are workers. But labor costs are shrinking as a creator of profit because money invested in them multiplies the productivity per worker enormously. Computers wiped out the jobs of bank tellers with the ATM machine a generation ago. Now, self-driving trucks are about to take away CDL jobs, some of the best available without a degree. Even lawyers are being cut thanks to new legal software and doctors can perform surgery on the Internet.

So, when we look a dollar of profit, we see that more and more of it comes from capital invested in productivity technology and less and less comes from human labor. Workers are becoming obsolete. Heavy industry has more than doubled worker productivity -- meaning half the workers are needed. Services, even retail is undergoing the same transformation.

What this means in terms of tax revenue is that our system of taxing labor (income tax) is crushing people as wages stagnate and good jobs are harder to find while the robots who are making the real money pay less in taxes on the wealth they create than humans do. It's time to give humans a break and tax robots at the same rate or higher than Americans.

how about taxing pension disbursements, dividends and interest on saving?.....

[PostmodernProphet]

Tax robots?

we already let them vote if they're demmycrats.......

[PostmodernProphet]

It's time to give humans a break and tax robots at the same rate or higher than Americans.

do we charge them the same amount of federal income tax that most American's pay.......do they also get the EIC?.......

[Truth Detector]

CA is 6th in size but it is not a free-standing economy. The CA economy is integrated within the larger US economy and this constrains its economic options just as federal law constrains its political options.

What a brainless pile of drivel; but you do it well.

[Truth Detector]

Taxation is a necessary business expense.

Businesses don't pay taxes.

Taxation makes the economy possible.

This is not only a false claim; but a moronic one.

Without tax revenue there would be no roads, bridges, police, legal system -- all the things without which a modern economy is impossible.

How did we have roads and railroads before they had Federal taxes?

I am amused by arguments that suggest the behemoth that is now the Federal bureaucracy is necessary or even Constitutional.

In addition, without government health, education, and welfare support a modern workforce would not exist.

We, as a society, were much better educated before the Feds became involved. I am amused by arguments that falsely suggest that we need the Federal government to maintain our health, education and welfare. That's not only specious, but stupid.

[Truth Detector]

The way that capital is taxed is indeed obsolete and unfair. We need to rethink the basis of all our taxes. Taxes are levied on profit.

This is false; taxes are levied on income. Once again, corporations and businesses do not pay taxes; they merely collect taxes on their goods and services that are levied on their customers.

Computers wiped out the jobs of bank tellers with the ATM machine a generation ago.

This is flat our false; have you been to a bank recently? There are plenty of tellers still working there. I don't know where you are getting such laughably incorrect information.

Now, self-driving trucks are about to take away CDL jobs, some of the best available without a degree. Even lawyers are being cut thanks to new legal software and doctors can perform surgery on the Internet.

So, when we look a dollar of profit, we see that more and more of it comes from capital invested in productivity technology and less and less comes from human labor. Workers are becoming obsolete. Heavy industry has more than doubled worker productivity -- meaning half the workers are needed. Services, even retail is undergoing the same transformation.

What this means in terms of tax revenue is that our system of taxing labor (income tax) is crushing people as wages stagnate and good jobs are harder to find while the robots who are making the real money pay less in taxes on the wealth they create than humans do. It's time to give humans a break and tax robots at the same rate or higher than Americans.

This is a bunch of gobbledygook and crapola. We are not displacing human jobs with computers and equipment; we are merely changing the skills needed and increasing productivity.

What the hell this has to do with a discussion on taxes beats me.

[Truth Detector]

There is only ONE correct and FAIR tax system; and that would be the FAIR Tax. Buy the book and see why.

[canceled.2021.3]

I appreciate your effort to understand what you think I am trying to say but please remember that what you think I am trying to say isn't what I said. Your are correct that CA could restrict a free housing program to California residents; the issue of how the state defines its citizenship isn't quite as simple as it might appear. In any event, the very high cost of a free housing program would require taxation which could adversely effect the CA economy if other states had no such burden. State economies aren't closed systems.

Oh no. High taxation has zero negative effects. Just ask any liberal. They assure us that taxing the rich and redistributing that wealth to the poor is the only way to create prosperity.

You are mistaken. Californians are just greedy