So, how much should we tax the rich? 70%? 90%?

terp
drummerboy said:
Ya see? The 70% marginal rate proposal is just a stepping stone in re-allocating all of this "wealth" to where it should go.


Sen. Elizabeth Warren (D-Mass.) will propose a new “wealth tax” on Americans with more than $50 million in assets, according to an economist advising her on the plan, as Democratic leaders vie for increasingly aggressive solutions to the nation’s soaring wealth inequality.
Emmanuel Saez and Gabriel Zucman, two left-leaning economists at the University of California, Berkeley, have been advising Warren on a proposal to levy a 2 percent wealth tax on Americans with assets above $50 million, as well as a 3 percent wealth tax on those who have more than $1 billion, according to Saez.
The wealth tax would raise $2.75 trillion over a ten-year period from about 75,000 families, or less than 0.1 percent of U.S. households, Saez said.
Eventually we'll have enough to buy nice things.



 FWIW:  Sweden got rid of their wealth tax.


Philip
terp said:



Thank you for the first 2 paragraphs.  I appreciate that sentiment, mostly.   
I'm going to make my defense.  I have read through that thread you link there.  If you read through that thread, and I'm not saying that I was all warm and fuzzy.  But, I had a point, and really I was looking for an answer to a question.  
Then what happens?  I get a lot of responses.  I just don't get a any responses to my question.  Most responses are just strawmen of what I must think for asking the question.  I get insults like:
Are you seriously claiming that absolutely none of the wealth under your control was created thanks to the work of the government? Are you just floating some perfect vacuum out in space, farting out gold bricks, and saying the government has no right to those shiny metal blocks? Congratulations, in that case you're right, and the government has zero claim to your wealth. If not, well, this idea that everything you own is 100% a result of your own labor, dependent on no one else, is pretty absurdly narcissistic.
But never a response to the question I ask.  For the most part, I earnestly answer everyone's question.  Looking back, I wonder what motivated me.  
I do state my opinion here, and I will question.  But, for the most part it is respectable.  Though, I get pulled into the muck more often than I'd like.    However, I rarely, if ever, start the insults.  
Many here who are self righteous will, usually obliquely, deride others.   But that's fine.  Because they think what everyone else thinks.   I mean that's expected.  But, to those people think I'm the bad guy.  All I'm saying is a look in the mirror every once in a while wouldn't hurt. 

 

 Well I still maintain the the image of farting gold bricks is inherently humorous ;-)

Still -- that's my failing. I think if one were to look over my MOL posting history, hopefully what emerges is a mellowing and an attempt to reign in the sarcasm and snark. Clearly I'm not always successful, but I do think I've been doing better. Even compared to the discussion referenced here (which I think had some really good exchanges despite the regressions to insults), I think there's a marked difference.

In any case, I've gotten pretty busy offline lately, hence my long absences, but at some point I'll look forward to the renewed chance to practice generating substantive discussion rather than point scoring.


terp
PVW said:
 Well I still maintain the the image of farting gold bricks is inherently humorous ;-)
Still -- that's my failing. I think if one were to look over my MOL posting history, hopefully what emerges is a mellowing and an attempt to reign in the sarcasm and snark. Clearly I'm not always successful, but I do think I've been doing better. Even compared to the discussion referenced here (which I think had some really good exchanges despite the regressions to insults), I think there's a marked difference.

In any case, I've gotten pretty busy offline lately, hence my long absences, but at some point I'll look forward to the renewed chance to practice generating substantive discussion rather than point scoring.

 Agreed.  I was surprised that it was you with the snark...but it's all good.  Clearly I've had my moments as well.  You usually come with your best foot forward.  

I look forward to future exchanges with you.  



In order to add a comment – you must Join this community – Click here to do so.

Sponsored Business

Find Business

Real Estate Listings