Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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1. Moving goalposts. It is harder to create a tax than it is to change the conditions.
2. Impact to economy. if you create an additional cost that makes moving money out of the United States more tax efficient, that's what will happen.
3. Principle of the matter. The US government doesn't have a tax receipts problem, it has a scope problem. The answer isn't more taxes, it's reduced scope.
4. Principle of the matter, part two. The US government spends money in highly inefficient ways, I would rather have that money being allocated by people who actually care about return on capital.
5. Execution. If we actually institute it a federal wealth, tax, and the people impacted by it stayed around and paid, most of their assets are tied up in stock. This means forcing lots of people to sell when it doesn't make sense, which has a downstream negative impact on the market.

Your question actually reveals an awful lot about you. Since it's not your money, you feel okay with the government taxing it away. It's a basic, juvenile philosophy that lacks any consideration for secondary or tertiary effects. But hey, at least it isn't your money!

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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"From each according to his ability, to each according to his needs"

- Karl Marx

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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Why do you covet? Why do you want to steal something you didn't earn?

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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Well, there it is. You just officially outed yourself as the socialist/collectivist that you are. You could have played the naive liberal schtick on here, but that option is out the door after that post. No going back now.

Pichael Thompson said:

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Except it's all smoke & mirrors bc the wealthy don't pay taxes


This is a backdoor to attack the working class just like everything else the libs & establishment republicans do

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It's bad enough someone posted this drivel, but five people starred it?

Never forget, to a leftist "rich" or "wealthy" is anybody with a dime more than them.

Hubert J. Farnsworth said:

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Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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Well, there it is. You just officially outed yourself as the socialist/collectivist that you are. You could have played the naive liberal schtick on here, but that option is out the door after that post. No going back now.

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It's embarrassing that this guy apparently has two degrees from our university. I can't imagine how big of an outcast he must have been.

It's always been odd to me that people think you should pay more in tax simply because you make/have more. Nowhere else does that logic apply. It's especially strange here considering those that pay more in tax typically utilize less in government resources.

Especially given the rampant waste, fraud, and abuse that everyone claims exists as even Democrats believe Republicans line the pockets of their corporate masters.

If a dollar of Capital exists, why not deploy it in what has been demonstrated as the most efficient and productive method?

Governments in various forms have consistently proven throughout time as not very efficient in deploying capital so why continue to advocate an ever growing allotment of the economy to effectively a highly inefficient percentage of dead or inefficient capital?

If Elon Musk had to continually fork over a huge chunk of his wealth to support a lesser form of capital efficiency, companies like Tesla and subsequently SpaceX wouldn't even exist. These are the very companies our government and society at large depend on for better or worse for growth in technology and defense.

This fundamental difference in capital deployment efficiency is what has allowed the US to thrive. Some hold up China as an example of how collectivism is better however what they don't realize is that China was built with American capital, and access to American markets and using more efficient forms of Capital deployment (i.e capitalism) but as they continue to drift away from the early to mid 90's model, and their capital has become less and less efficient which is why their economic problems continue to grow.

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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We remember how the income tax was "only for the top earners" and if you get your way within the decade we'll all have to sell off our private property to give to the tax man or go to jail.

Yes it will be your communist paradise of nobody owns anything but the economy will have long since collapsed (but then that's what this is designed to do)

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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Billionaires won't pay more taxes. but the middle class will. Thanks for confirming your lack of critical thought

America already has one of the most progressive tax system in the world because of its high corporate tax rate (higher than many EU countries)and its low to Negative rate for the "poor"

"if we wealth tax the billionaires they'll stop giving us jobs" while they're spending their fortunes to replace your job with AI is crazy

Old McDonald said:

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"if we wealth tax the billionaires they'll stop giving us jobs" while they're spending their fortunes to replace your job with AI is crazy

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Still waiting on proof they will actually pay this tax

You could tax all the billionaires at 100% and we would still be broke

Indeed. California is a perfect example. The proposed billionaires tax has already seen more than a trillion in capital flight in less than 2 months. Without even passing a law to "help generate more tax revenue" CA has lost a tremendous amount of existing tax revenue.

Smart Capital always moves to what is the most efficient, and it moves very quickly and only a fool believes that the world operates in a vacuum.

There will always be a country that will welcome people with money so even if the US is dumb enough to propose and start the process of a wealth tax, smart capital will already be in motion. Hong Kong is another good example of this as one of the largest boons to high end real estate in the US was capital fleeing Hong Kong.

Says the horse and buggy maker or typewriter manufacturer. Instead of fighting advancement and change by yelling into the wind and blaming everyone but yourself, take some control of your destiny. It isn't really that difficult. Live below your means, actively be involved in the change, and invest in it as you should have the best insight as to where that threat is coming from.

If the typewriter owner or worker saved a little and invested a little in what replaced them, (computers), they would have been set.

A smart person would be doing everything they can to make their job obsolete so they can be involved in the next iteration as to what it will be.

Or hear me out. Most believe in freedom and sticking it to the "rich" while letting so many skate on income tax is not freedom but jealousy.

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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What will the wealth tax in the ling run improve? Maybe look at some of the exemptions and simplify the tax code.

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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Wow 2 degrees and not a single economics course.

Uh they do pay taxes and lots of them.
And they often provide venture capital to start new business that employ people and develop new technologies. You grease and fuel to run a successful eco.

Wow.

Ag98and03 said:

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Why on earth are y'all against a wealth tax? Why do you carry billionaire's water? This is craziness.

How have billionaires convinced you that they aren't the problem? That they should pay even less in taxes?

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You don't understand freedom. You sound really jealous. Everyone should pay something in income tax. Have the moochers start paying then let's talk. The top 1% is pulling the bottom 50%