Thoughts on Today's Political Landscape

[GRH]

I'm not sure what you find so unconstitutional about a 100% tax rate on income in excess of $200,000. Read the 16th Amendment:

"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

That precious Constitution of yours was amended (through mechanisms set up by the document) to include the ability for Congress to tax incomes. Where in the Amendment does it make any mention of specific tax rates (or limits thereon)? It reads pretty broadly to me.

That said, I wouldn't support taxing income in excess of $200,000 at 100% because I feel this would put America at a huge competitive disadvantage. However, I WOULD support taxing such excess wages at MUCH higher rates than at present. Our country saw some phenomenal periods of growth when the top marginal rates were at 70%. I'd also nix the lowered capital gains rate for capital gains in excess of a certain threshold.

[Trogdor]

Why not just get rid of the income tax, we were a country long before we had one, and just make the fair tax....that way it effects the rich and poor fairly. And these businesses will have no excuse to keep sending jobs overseas...none that anyone will believe, anyhow. And we'd have more control over our money once we get that 800 pound gorilla known as the income tax off our backs, and can use that extra money, that is rightfully ours to begin with, on what we need, or paying off debts, investing, and so on. Can't fix an economy if no one's buying anything. Also, I'd love to see us getting a refund of our taxes, since the tax money goes to our politicians and government services, and so many people are so unsatisfied and have no faith in the government, we outta get a refund for unsatisfactory service.

Besides, I am sure that there are people, besides myself, that would LOVE to see a sign in front of the IRS building that says, "Gong Out of Business" and it becomes a strip mall or a coffee house or something.



~Wonders who this post will piss off this time~

[smc]

Originally Posted by Trogdor

Why not just get rid of the income tax, we were a country long before we had one, and just make the fair tax....that way it effects the rich and poor fairly. And these businesses will have no excuse to keep sending jobs overseas...none that anyone will believe, anyhow. And we'd have more control over our money once we get that 800 pound gorilla known as the income tax off our backs, and can use that extra money, that is rightfully ours to begin with, on what we need, or paying off debts, investing, and so on. Can't fix an economy if no one's buying anything. Also, I'd love to see us getting a refund of our taxes, since the tax money goes to our politicians and government services, and so many people are so unsatisfied and have no faith in the government, we outta get a refund for unsatisfactory service.

Besides, I am sure that there are people, besides myself, that would LOVE to see a sign in front of the IRS building that says, "Gong Out of Business" and it becomes a strip mall or a coffee house or something.



~Wonders who this post will piss off this time~

If by "fair tax" you mean the national sales tax advocated by FairTax.org, you need to revisit the meaning of the word "fair." Taxes are either regressive or progressive. The so-called "fair tax" is regressive, and hence there is nothing "fair" about it.

[Trogdor]

Originally Posted by smc

If by "fair tax" you mean the national sales tax advocated by FairTax.org, you need to revisit the meaning of the word "fair." Taxes are either regressive or progressive. The so-called "fair tax" is regressive, and hence there is nothing "fair" about it.

Having more money in the long run.


And you, seeing as you seem to be the expert, what would YOU do, hmmm? The income tax is nothing but an 800 pound gorilla that is pretty much screwing over many people.

[smc]

Originally Posted by Trogdor

Having more money in the long run.


And you, seeing as you seem to be the expert, what would YOU do, hmmm? The income tax is nothing but an 800 pound gorilla that is pretty much screwing over many people.

Yours is a non-answer. I did not claim to be an "expert," but calling me that is a good attempt at dodging the question. I already wrote what I would do about taxes, only a few posts above. Will you answer the question I asked, by inference? Clarify what you mean by "fair tax," and explain how it means "having more money in the long run."

[Enoch Root]

Halloween Party at the foreclosure mill, Steven J Baum:

http://www.nytimes.com/2011/10/29/op...veal.html?_r=1

[TracyCoxx]

Geez... now the occupy mobs in Oakland are clashing with police, setting bonfires in the streets, closing down ports, throwing molitiv cocktails at cops. Nice movement you guys have there.