Originally posted by EladarAmong other things they should raise taxes for higher incomes and lower taxes for low incomes. This will improve consumer demand, boost the economy and create jobs.
Well then, what are these unpopular measures that will bring about economic turn arounds for the world's ailing economies!?!
You are saying that in places like Greece and Ireland they do not have progressive tax systems?
I know in the US we have a progressive tax system, nearly half of all Americans do not pay a Federal Income tax and of the half that don't many actually receive money from the government in the form of a tax refund. Between earned income credits and credits for things like having children people in the US actually receive money from the Federal government instead of paying taxes.
I get what you are saying and to a certain extent I agree. I see nothing wrong with increasing tax rates when they are as low as they are in the US. I see nothing wrong with closing loop holes. I also see nothing wrong with doing away with all forms of welfare, corporate or individual.
Countries can't tax their way into have a good economy. There must be a balance and more people need to be pulling the cart than riding in the cart. I count politicians as people whoare riding in the cart.
Originally posted by EladarNo, I am saying they are not progressive enough.
You are saying that in places like Greece and Ireland they do not have progressive tax systems?
I know in the US we have a progressive tax system, nearly half of all Americans do not pay a Federal Income tax and of the half that don't many actually receive money from the government in the form of a tax refund. Between earned income credits and credits for ...[text shortened]... ng the cart than riding in the cart. I count politicians as people whoare riding in the cart.
Originally posted by EladarI wish these wealthy people really would go to Galt's Gulch. They're like those people who keep threatening suicide for attention but don't have the balls to follow through.
What kind of tax schedule do you imagine.
How do you ensure that the wealthy do not simply leave the country to escape the high taxes?
Originally posted by EladarA top tariff of roughly 70% over ~$100k and a tax-free wedge of about $20k, with a progressively increasing rate in between. Something like that.
What kind of tax schedule do you imagine.
How do you ensure that the wealthy do not simply leave the country to escape the high taxes?
People don't leave their home country without a good reason. Especially if the economy is doing well.