OT- ‘Since when does our great free-market country punish success’…

[SDEngineer]

[quote=Veritas]I hope you are right about small business. As they go, so goes the economy and jobs.[/quote]

I don’t know any small business owners who make > 1 million. The average small business owner makes about 230K/yr (source: WSJ), and this includes all businesses with 500 or fewer employees. And, of course, the additional tax is only at the margin – their taxable earnings on the amount of their salary under a million is exactly the same.

Finally, of course, is that the past 8 years have seen the lowest tax rates on the wealthy (by a significant margin) on both capital gains and salary since WW II. It doesn’t appear like the nation suffered unduly before when the rich were being soaked to the tune of far higher marginal rates on both cap gains and salary.

Neither, for that matter, did the rich, though a few decades ago, the CEO’s had to make do with only earning annually 10-20x the average salary of their employees – instead of the 100x multiplier that seems common today. Amazingly enough, it appears that not making insane amounts of dough failed to make them decide to either quit or stop growing their companies. Turns out making LOTS of dough is still worth their while.

[dbapig]

I just find it fascinating how successful the really rich are in persuading (tricking) the semi rich or wanna be riches into thinking they (wanna be riches) can somehow benefit from policy that benefits the rich.

[dbapig]

I just find it fascinating how successful the really rich are in persuading (tricking) the semi rich or wanna be riches into thinking they (wanna be riches) can somehow benefit from policy that benefits the rich.

[dbapig]

I just find it fascinating how successful the really rich are in persuading (tricking) the semi rich or wanna be riches into thinking they (wanna be riches) can somehow benefit from policy that benefits the rich.

[dbapig]

I just find it fascinating how successful the really rich are in persuading (tricking) the semi rich or wanna be riches into thinking they (wanna be riches) can somehow benefit from policy that benefits the rich.

[dbapig]

I just find it fascinating how successful the really rich are in persuading (tricking) the semi rich or wanna be riches into thinking they (wanna be riches) can somehow benefit from policy that benefits the rich.

[Eugene]

Should we provide health care to 50 million unfortunate hard-working Americans … or should we allow the fortunate to buy one more Louis Vuitton bag a year … hmm, tough call.

[Eugene]

Should we provide health care to 50 million unfortunate hard-working Americans … or should we allow the fortunate to buy one more Louis Vuitton bag a year … hmm, tough call.

[Eugene]

Should we provide health care to 50 million unfortunate hard-working Americans … or should we allow the fortunate to buy one more Louis Vuitton bag a year … hmm, tough call.

[Eugene]

Should we provide health care to 50 million unfortunate hard-working Americans … or should we allow the fortunate to buy one more Louis Vuitton bag a year … hmm, tough call.

[Eugene]

Should we provide health care to 50 million unfortunate hard-working Americans … or should we allow the fortunate to buy one more Louis Vuitton bag a year … hmm, tough call.

[Veritas]

Financial crisis

“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”

“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”

[Veritas]

Financial crisis

“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”

“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”

[Veritas]

Financial crisis

“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”

“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”

[Veritas]

Financial crisis

“Louis XVI ascended to the throne amidst a financial crisis; the nation was nearing bankruptcy and outlays outpaced income.[5] This was because of France’s involvement in the Seven Years War and its participation in the American Revolution.[6] In May 1776, finance minister Turgot was dismissed, after he lost favour. The next year, Jacques Necker, a foreigner, was appointed Director-General of Finance. He was not made a minister because he was a Protestant, and could not become a naturalized French citizen.[7] Necker realized that the country’s tax system subjected some to an unfair burden;[7] numerous exemptions existed for the nobility and clergy.[8] He argued that the country could not be taxed higher, that the nobles and clergy should not be exempt from taxes, and proposed that borrowing would solve the country’s fiscal problems. Necker published a report to support this claim that underestimated the deficit by roughly 36,000 livres; and proposed restricting the spending power of the parlements. This was not received well by King’s ministers and Necker, hoping to solidify his position, argued to be accepted as a minister. The King refused, Necker was fired, and Charles Alexandre de Calonne was appointed to the Directorship.[7]”

“Calonne initially spent liberally, but he quickly realized the critical financial situation and put forth a new tax code.[9] The proposal included a consistent land tax, which would include taxation of the nobility and clergy, and the meeting of the Estates was planned for May 1789; a signal that the Bourbon monarchy was no longer absolute.”

[Author]

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