@AverageJoe1 saidGood point; the wealth sitting in these capital assets isn't being usefully invested or spent in the economy in a way that would create jobs.
Whatever, but it is so funny when you libs just throw a number out. Why $100M, Maruader? Why not $20M. No one needs more than $20M do they? We don't need a guy to have $100M to invest in his business to grow jobs, do we??
Or why not $500M so he can do that.
ohhhhhh, Marauder..........
All the more reason to tax it.
@no1marauder saidThe govt should have the power tell us how to invest? Jesus.
Good point; the wealth sitting in these capital assets isn't being usefully invested or spent in the economy in a way that would create jobs.
All the more reason to tax it.
@wildgrass saidTrump? He is not president. So boring. Like Sonhouse.
You wrote about Bidens pork to distract from Trump's much larger pile of pork.
@no1marauder saidExactly. Let us socialists go after the money of the wealthy. Let us just dammit get the money.
Good point; the wealth sitting in these capital assets isn't being usefully invested or spent in the economy in a way that would create jobs.
All the more reason to tax it.
@AverageJoe1 saidGovernments have the power to tax and it makes sense to tax more heavily wealth that is non- productive rather than workers' income which is the main component of consumer demand which fuels the economy.
The govt should have the power tell us how to invest? Jesus.
@AverageJoe1 saidPay for what you spend. Raising taxes became inevitable because of Trump's extravagant spending.
Trump? He is not president. So boring. Like Sonhouse.
@no1marauder saidNote how you leave the amount of tax 'open-ended'.
Governments have the power to tax and it makes sense to tax more heavily wealth that is non- productive rather than workers' income which is the main component of consumer demand which fuels the economy.
Mr Moneypenny is sitting in his office, at his factory employing 1000 people. Because of inflation, caused by someone in the govt, that same govt comes to the office door and asks Mr Moneypenny to pay more in tax so that they can distribute that money to those 1000 workers.
If there is another downturn, they will come back for more of his 'wealth'. And they may keep coming. If Camela wins, they will come a lot. Eliz Warren has said they will get 70%, but Camela is more of a socialist than is Warren....they will get the wealth of the wealthy. You have stated that in your post hereinabove.
Can you elaborate how this would play out in a Camela presidency? Tell us how 'it makes sense to tax the wealthy heavily". How it is more logical to replace the income tax of the workers, with distributing money to them from the wealthy people, who create the jobs that are enjoyed by the workers.
You can do this.
@wildgrass saidBut, the Inflation Reduction Act of Biden, big money spent by Biden, did not reduce inflation.
Pay for what you spend. Raising taxes became inevitable because of Trump's extravagant spending.
https://www.pbs.org/newshour/economy/inflation-is-down-but-the-inflation-reduction-act-likely-doesnt-deserve-the-credit
@AverageJoe1 saidYes Biden spent money too. Obvioulsly. Trump's spending contributed double the amount to debt compared to Biden. We discussed in the other thread. Taxes need to go up because of Trump's spending.
But, the Inflation Reduction Act of Biden, big money spent by Biden, did not reduce inflation.
https://www.pbs.org/newshour/economy/inflation-is-down-but-the-inflation-reduction-act-likely-doesnt-deserve-the-credit
Even conservative news sources who are blaming Biden are saying that Biden should have repealed all the stuff that Trump spent money on.
@no1marauder saidOh well, if we mistreat those with a lot then it’s okay, because class warfare is a winner!
You must not have even bothered to look at the proposal I already linked to. It applies only to those with $100 million in assets and is a way to rectify the situation where many of the Uber wealthy wind up paying a lower tax rate. I have my doubts that proposal is really politically unpopular.
Pretty much every State has local real property taxes which are based on "u ...[text shortened]... , but because it would be a step to a fairer tax system that would raise more revenue from the rich.
@AverageJoe1 saidMarauder is no doubt mulling this one over.
Note how you leave the amount of tax 'open-ended'.
Mr Moneypenny is sitting in his office, at his factory employing 1000 people. Because of inflation, caused by someone in the govt, that same govt comes to the office door and asks Mr Moneypenny to pay more in tax so that they can distribute that money to those 1000 workers.
If there is another downturn, they wi ...[text shortened]... rom the wealthy people, who create the jobs that are enjoyed by the workers.
You can do this.
@no1marauder saidAnother typical ib slant on things.
Good point; the wealth sitting in these capital assets isn't being usefully invested or spent in the economy in a way that would create jobs.
All the more reason to tax it.
1. He says the wealth 'sitting' isn't being usefully invested. (??). So what is 'usefully invested' to Marauder.
2. How would you 'spend in the economy' in a way that would create jobs? What does that mean?
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@AverageJoe1 saidI use the same definition for investment as economists: https://www.econlib.org/library/Enc/Investment.html#:~:text=What%20Is%20Investment%3F,the%20result%20of%20forgoing%20consumption.
Another typical ib slant on things.
1. He says the wealth 'sitting' isn't being usefully invested. (??). So what is 'usefully invested' to Marauder.
2. How would you 'spend in the economy' in a way that would create jobs? What does that mean?
Trading one piece of paper for another piece of paper isn't Investment in Economics.