wealth tax

[Aecetia]

Alarmclock- your assumptions are incorrect! According to the Wall Street Journal: “In 1980, when the top tax rate was 70%, the richest 1% paid only 19% of all income taxes; now, with a top rate if 35%, they pay more…” closer to double the 1980 amount. 86% of all Federal taxes are paid by the top 25% of income earners; the top 50% pay 97% of all income tax; the top 1% pay 39% up 2% from 2000 when Presidente Boosh took office.

Get it right AC, we need less tax, not more. If the poor would stop smoking and ride the bus, they would probably not be contributing to taxes at all!

[alarmclock]

Thanks for the comments. I’d like to respond to a few things:

Surveyor: “Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code”

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)… and I reserve the right to daydream about whatever I like!

Aecetia: “your assumptions are incorrect!”

Alarmclock: I’ll take this as ‘your facts are incorrect’ — I believe you are referring to my claim, parpahrased as ‘the wealthiest 10% currently pay 70%…’ — I believe this is perfectly in line with the data you provide.

Aecetia: “get it right AC, we need less tax, not more.”

Alarmclock: I can’t argue that point. If it were up to me the bottom of the tax return would have 2 fields: Your Capital Expenses share and Operating Expenses share. You would be required pay your Federal CapEx share (as you do now)… but you could write *whatever* dollar amount you wanted for Operating Expenses. Keep in mind that the Federal operating expense budget is many, many times larger than the capital budget.

The point seems largely missed here is that I propose that taxing the “change in wealth” (the derivative of wealth with respect to time) is less fair than taxing the wealth itself. I would like to plot and upload an income/wealth graph divided into two regions: those that would see their tax bill increase, and those that would see it decrease. I feel confident that nearly everyone here would be on the ‘decrease’ side.

[alarmclock]

Thanks for the comments. I’d like to respond to a few things:

Surveyor: “Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code”

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)… and I reserve the right to daydream about whatever I like!

Aecetia: “your assumptions are incorrect!”

Alarmclock: I’ll take this as ‘your facts are incorrect’ — I believe you are referring to my claim, parpahrased as ‘the wealthiest 10% currently pay 70%…’ — I believe this is perfectly in line with the data you provide.

Aecetia: “get it right AC, we need less tax, not more.”

Alarmclock: I can’t argue that point. If it were up to me the bottom of the tax return would have 2 fields: Your Capital Expenses share and Operating Expenses share. You would be required pay your Federal CapEx share (as you do now)… but you could write *whatever* dollar amount you wanted for Operating Expenses. Keep in mind that the Federal operating expense budget is many, many times larger than the capital budget.

The point seems largely missed here is that I propose that taxing the “change in wealth” (the derivative of wealth with respect to time) is less fair than taxing the wealth itself. I would like to plot and upload an income/wealth graph divided into two regions: those that would see their tax bill increase, and those that would see it decrease. I feel confident that nearly everyone here would be on the ‘decrease’ side.

[alarmclock]

Thanks for the comments. I’d like to respond to a few things:

Surveyor: “Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code”

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)… and I reserve the right to daydream about whatever I like!

Aecetia: “your assumptions are incorrect!”

Alarmclock: I’ll take this as ‘your facts are incorrect’ — I believe you are referring to my claim, parpahrased as ‘the wealthiest 10% currently pay 70%…’ — I believe this is perfectly in line with the data you provide.

Aecetia: “get it right AC, we need less tax, not more.”

Alarmclock: I can’t argue that point. If it were up to me the bottom of the tax return would have 2 fields: Your Capital Expenses share and Operating Expenses share. You would be required pay your Federal CapEx share (as you do now)… but you could write *whatever* dollar amount you wanted for Operating Expenses. Keep in mind that the Federal operating expense budget is many, many times larger than the capital budget.

The point seems largely missed here is that I propose that taxing the “change in wealth” (the derivative of wealth with respect to time) is less fair than taxing the wealth itself. I would like to plot and upload an income/wealth graph divided into two regions: those that would see their tax bill increase, and those that would see it decrease. I feel confident that nearly everyone here would be on the ‘decrease’ side.

[alarmclock]

Thanks for the comments. I’d like to respond to a few things:

Surveyor: “Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code”

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)… and I reserve the right to daydream about whatever I like!

Aecetia: “your assumptions are incorrect!”

Alarmclock: I’ll take this as ‘your facts are incorrect’ — I believe you are referring to my claim, parpahrased as ‘the wealthiest 10% currently pay 70%…’ — I believe this is perfectly in line with the data you provide.

Aecetia: “get it right AC, we need less tax, not more.”

Alarmclock: I can’t argue that point. If it were up to me the bottom of the tax return would have 2 fields: Your Capital Expenses share and Operating Expenses share. You would be required pay your Federal CapEx share (as you do now)… but you could write *whatever* dollar amount you wanted for Operating Expenses. Keep in mind that the Federal operating expense budget is many, many times larger than the capital budget.

The point seems largely missed here is that I propose that taxing the “change in wealth” (the derivative of wealth with respect to time) is less fair than taxing the wealth itself. I would like to plot and upload an income/wealth graph divided into two regions: those that would see their tax bill increase, and those that would see it decrease. I feel confident that nearly everyone here would be on the ‘decrease’ side.

[alarmclock]

Thanks for the comments. I’d like to respond to a few things:

Surveyor: “Instead of daydreaming about changing the tax code to fit your personal situation, maybe you should think about studying the tax code”

Alarmclock: I agree that learning more about the tax code as it stands now is a great idea. I did say: “there is no political will to make such a change” — this is code for “Let’s everyone put on your imagination hats”. I’m just playing a game of “SimUS” (like SimCity)… and I reserve the right to daydream about whatever I like!

Aecetia: “your assumptions are incorrect!”

Alarmclock: I’ll take this as ‘your facts are incorrect’ — I believe you are referring to my claim, parpahrased as ‘the wealthiest 10% currently pay 70%…’ — I believe this is perfectly in line with the data you provide.

Aecetia: “get it right AC, we need less tax, not more.”

Alarmclock: I can’t argue that point. If it were up to me the bottom of the tax return would have 2 fields: Your Capital Expenses share and Operating Expenses share. You would be required pay your Federal CapEx share (as you do now)… but you could write *whatever* dollar amount you wanted for Operating Expenses. Keep in mind that the Federal operating expense budget is many, many times larger than the capital budget.

The point seems largely missed here is that I propose that taxing the “change in wealth” (the derivative of wealth with respect to time) is less fair than taxing the wealth itself. I would like to plot and upload an income/wealth graph divided into two regions: those that would see their tax bill increase, and those that would see it decrease. I feel confident that nearly everyone here would be on the ‘decrease’ side.

[Coronita]

I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let's see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let's see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let's see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let's see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

I sort of wonder why people will spend a ton of time searching the interenet for a good price on a car yet spend little time learning about taxes. Let's see, I will buy a car maybe 1 in every 5 years and it represent maybe 5% of my income yet I do not want to learn anbout taxes that hit every year to the tune of 30% or more.

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the normal things one does: pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[nostradamus]

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the standard pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Start a business on the side. Use part of your home for a home office. Open an HSA. Go green.

Lots you can do but like others mentioned it takes some work and most W2 wage slaves don't want to know or think about it.

[nostradamus]

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the standard pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Start a business on the side. Use part of your home for a home office. Open an HSA. Go green.

Lots you can do but like others mentioned it takes some work and most W2 wage slaves don't want to know or think about it.

[nostradamus]

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the standard pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Start a business on the side. Use part of your home for a home office. Open an HSA. Go green.

Lots you can do but like others mentioned it takes some work and most W2 wage slaves don't want to know or think about it.

[nostradamus]

Thread hijack… Are there really that many variables that w-2s wage slaves can really play, beyond just the standard pretax deductions, maximizing capital gains treatment, home tax and mortgage deductions?

Start a business on the side. Use part of your home for a home office. Open an HSA. Go green.

Lots you can do but like others mentioned it takes some work and most W2 wage slaves don't want to know or think about it.

[Author]

Posts