Soak The Rich

[Mindmaster]

It seems people overwhelmingly support this idea in regard to taxes, but anyway are they intelligent enough to realize that rich people have the ability to literally "pack up" and move?

Anyway, there's a story on this here:

Soak the rich? Americans say go for it

What do you guys think about it?

 

[lostwanderingsoul]

Why should those who have the ability to earn more be punished for it? The idea of a free economy is that people can earn whatever they are able to. Socialist societies take from those who earn more and give to those who earn less,\. They seldom survive long.

 

[Shadow Wolf]

anyway are they intelligent enough to realize that rich people have the ability to literally "pack up" and move?

Like everybody else, the rich threaten to move but tend to stay put. Even interstate immigration doesn't happen like it used to.

 

[Shadow Wolf]

Why should those who have the ability to earn more be punished for it? The idea of a free economy is that people can earn whatever they are able to. Socialist societies take from those who earn more and give to those who earn less,\. They seldom survive long.

Those with more still have more.

 

[Cooky]

Like everybody else, the rich threaten to move but tend to stay put. Even interstate immigration doesn't happen like it used to.

How do you know, though? Because I've never heard that before.

 

[Mindmaster]

Like everybody else, the rich threaten to move but tend to stay put. Even interstate immigration doesn't happen like it used to.

At 70% tax rate, they'll friggin' move. You're talking about a lot of moolah...

 

[Shadow Wolf]

How do you know, though? Because I've never heard that before.

Because everyone is always saying their going to move if this happens. Or they're going to quit smoking when a pack is this price. Or they'll "get healthy" when a health disaster strikes family. Very few ever actually do.

At 70% tax rate, they'll friggin' move. You're talking about a lot of moolah...

Moolah on top of moolah that's already been taxed at a lower rate. And they didn't leave when we had higher taxes.

 

[Salvador]

It seems people overwhelmingly support this idea in regard to taxes, but anyway are they intelligent enough to realize that rich people have the ability to literally "pack up" and move?

Anyway, there's a story on this here:

Soak the rich? Americans say go for it

What do you guys think about it?

I totally agree; if the Feds were to impose an absurdly high tax rate on any of us privileged class citizens, we'd move to another country that wouldn't take away that much of our wealth

 

[Shadow Wolf]

I totally agree; if the Feds were to impose an absurdly high tax rate on any of us privileged class citizens, we'd move to another country that wouldn't take away that much of our wealth

America would have a very tiny population if everyone who said they were moving actually did. This does include the rich, who despite their threats to move if Obama got a second term and in the end, like just about everybody else, kept their fat cat asses here.

 

[ADigitalArtist]

Why should those who have the ability to earn more be punished for it? The idea of a free economy is that people can earn whatever they are able to. Socialist societies take from those who earn more and give to those who earn less,\. They seldom survive long.

For the same reason we dont allow monopolistic corporations. A free society isn't one where wealth hoarding prevents upward motility in the lower middle and low income groups. We don't see a monopoly and say 'well they were the most successful business we shouldn't punish them by forcing a split.'

 

[Shadow Wolf]

I'm actually surprised that there have been a number of right-winged authors who have been astute observers of human behaviors, but on this they mostly appear blind and refuse to accept that everyone talks the talk, but very few people walk the walk (when it comes to moving, anyways. They do pretty much acknowledge the same sentiment in other areas).

 

[Shadow Wolf]

For the same reason we dont allow monopolistic corporations. A free society isn't one where wealth hoarding prevents upward motility in the lower middle and low income groups. We don't see a monopoly and say 'well they were the most successful business we shouldn't punish them by forcing a split.'

Yup. We can have free markets, or we can have competitive markets. It seems we really can't have both (as free markets tend to kill competition by having more resources while competitive markets require regulations to preserve).

 

[Salvador]

Because everyone is always saying their going to move if this happens. Or they're going to quit smoking when a pack is this price. Or they'll "get healthy" when a health disaster strikes family. Very few ever actually do.

Moolah on top of moolah that's already been taxed at a lower rate. And they didn't leave when we had higher taxes.

Have you ever considered that fact we privileged class persons do have unprecedented opportunities to move our money abroad, beyond the reach of the IRS?

Tricks the world's super wealthy use to hide assets offshore | CBC News

 

[Salvador]

I'm actually surprised that there have been a number of right-winged authors who have been astute observers of human behaviors, but on this they mostly appear blind and refuse to accept that everyone talks the talk, but very few people walk the walk (when it comes to moving, anyways. They do pretty much acknowledge the same sentiment in other areas).

The higher the tax rate imposed upon us well-to-do privileged class persons, the more cash we will stash away in off-shore tax havens. We can certainly do this without necessarily taking up permanent residence elsewhere outside the U.S.

 

[Nakosis]

It seems people overwhelmingly support this idea in regard to taxes, but anyway are they intelligent enough to realize that rich people have the ability to literally "pack up" and move?

Anyway, there's a story on this here:

Soak the rich? Americans say go for it

What do you guys think about it?

Apparently it wouldn't actually affect many people. They say about .05%. Many people households who have a average income over 10 million generally don't get that as earned income. So they would actually hit that bracket.

As Ray Dalio weighs in on Ocasio-Cortez’s 70% tax proposal, here’s what some critics got wrong about it

So I suppose it's fine it not really going to affect much, nor tax revenues by much. Certainly not enough to pay for free health care or education.

Any affect on the economy or tax revenue will be negligible. So go for it. Just don't start expecting free healthcare or education anytime soon. The government will have a bit more money to blow on whatever it blows it on.

 

[Shadow Wolf]

Have you ever considered that fact we privileged class persons do have unprecedented opportunities to move our money abroad, beyond the reach of the IRS?

I know that's been going on for awhile.
But do they actually move? Nope.

 

[Twilight Hue]

It'll never happen anyways.

The government and the rich are joined hip to hip.

How Wealthy People Use the Government to Enrich Themselves

 

[youknowme]

Please . . . America is the largest economy in the world, they are not going to leave it unless they want to lose their wealth, besides the real lifeblood of America is small business.

 

[youknowme]

The higher the tax rate imposed upon us well-to-do privileged class persons, the more cash we will stash away in off-shore tax havens. We can certainly do this without necessarily taking up permanent residence elsewhere outside the U.S.

How is that any different from now?

 

[PruePhillip]

It seems people overwhelmingly support this idea in regard to taxes, but anyway are they intelligent enough to realize that rich people have the ability to literally "pack up" and move?

Anyway, there's a story on this here:

Soak the rich? Americans say go for it

What do you guys think about it?

Correct me if I am wrong but in the 1920's and 1960's the
US Govt reduced the top rate from some fantastic figure
(70-90%) to somewhere in the 20-30% and DOUBLED
the tax returns from this top bracket.