Norbert
TSLA will win
I'm no tax expert, but I think the first step to have overly rich people pay more taxes is to limit or remove the loopholes they are using to avoid paying taxes.
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You don't have to be a tax expert to know those loopholes were put in place specifically by the people who are trying to avoid paying these taxes in the first place. The president doesn't get to fix the tax code, Congress does and this type of change rarely happens.
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Norbert
TSLA will win
Norbert
TSLA will win
"Read the transcript". OK, once more.
Except for the initial and final congratulations, nothing Trump says is not part of a quid pro quo. The whole transcript is nothing but a quid pro quo. First he establishes Ukraine's dependency, then the intent for things to be reciprocal. The two exchange "quids" and "quos" for a while, and finally Trump wants him to seal the deal by saying he will talk to "Rudy" and Barr.
If Zelenskyy really didn't feel pressured, that's probably because he was already prepared for a quid pro quo. As expected.
bhtooefr
Active Member
Note that the law of the land isn't strictly the Constitution, it's the case law of how the Supreme Court has interpreted the Constitution.
So, a President and a cooperating Senate can indirectly change how the Supreme Court interprets the Constitution through court packing.
And, constitutionality is not clear-cut on wealth taxes.
So, a President and a cooperating Senate can indirectly change how the Supreme Court interprets the Constitution through court packing.
And, constitutionality is not clear-cut on wealth taxes.
bkp_duke
Well-Known Member
Not possible. If somehow you were miraculously able to "close" those, these people would simply leave the country and take their money with them. They have already shown they will leave high-tax states for lower-tax ones to avoid 7-13% in state income taxes. You honestly think they won't do more than that because someone threatens them with higher federal taxes? POOF - they will be gone in a heartbeat and there isn't a thing Uncle Sam can do. Mark my words - they love their money more than this country.
People should study history. We've had top marginal rates from 0% to 90% and variety of loopholes in our history yet the effective rate is always around 20%. Why? Because of human nature. Taxes change behavior.
Uncle Sam is not so clueless as you are suggesting with your skedaddling of a wealthy expat. It is very difficult to avoid the long arm of the IRS.
And now....Mod-mode ON -
This thread exists as a pressure-release valve insofar as keeping political discussion away from the tender eyes of other threads' posters. HOWEVER....
...its existence is at the pleasure - and mercy - of Lord Vetinari.
So keep discussion at least at the level of high school discourse (USA, baby boomer). Unsubstantiated pap; items of personal opinion written down as non-arguable fact - these are two kinds of posts that tend to raise his ire. Not something many want to have occur.
~~~Vetinari~~~
And now....Mod-mode ON -
This thread exists as a pressure-release valve insofar as keeping political discussion away from the tender eyes of other threads' posters. HOWEVER....
...its existence is at the pleasure - and mercy - of Lord Vetinari.
So keep discussion at least at the level of high school discourse (USA, baby boomer). Unsubstantiated pap; items of personal opinion written down as non-arguable fact - these are two kinds of posts that tend to raise his ire. Not something many want to have occur.
~~~Vetinari~~~
Paracelsus
Active Member
Most Democrats and many Republicans are very much in favor of Medicare for All because they understand that they will have more money left in their pockets at the end of the year when Medicare for All is finally passed, because while their taxes will go up, it will be more than offset by the reduction in their insurance and out-of-pocket medical expenses. And better yet....absolutely everyone in the US will finally be covered like they are in the rest of the modern world. Which leads to all kinds of other benefits, like improved health, improved performance & attendance in the workplace.......etc. But that doesn't mean that Centrist Dems and Republicans won't keep trying to convince them otherwise with the help of Big Pharma and Big Insurance lobbying pressures since those industries are totally screwed once it passes...........and they deserve to be since they have been screwing us for a long time now. In fact, I think I saw a pretty Failed attempt by them earlier today to try to rewrite the story on Medicare for All.
bkp_duke
Well-Known Member
All economic analyses I have seen to date have demonstrated that this is simply not true.
Can you cite the analysis that shows this? I would be very much interested in digging into the meat of that.
bkp_duke
Well-Known Member
What I said is not unsubstantiated. Here are the rules as written by the IRS:
Expatriation Tax | Internal Revenue Service
Does Uncle Sam make it difficult, yes? But it is not a "once you pay us taxes you always pay us taxes" scenario.
Corporations figured this out with the "Double Irish with a Dutch Sandwhich" in the 1990s and 2000s. A gigantic loophole, which is admittedly now closed.
Paracelsus
Active Member
Hopefully some comparisons with the UK will be helpful @bkp_duke since yesterday was their 73 anniversary of a Medicare for All-style system. Also I will include the link to the Medicare-for-All financing documents which should connect you to any of the studies you might be looking for through the citations. Hope this is helpful.
And here is the link:
https://www.sanders.senate.gov/down...4ADD-8C1F-0DEDC8D45BC1&download=1&inline=file
And here is the link:
https://www.sanders.senate.gov/down...4ADD-8C1F-0DEDC8D45BC1&download=1&inline=file
bkp_duke
Well-Known Member
Very interesting that you bring up the UK health system, which is having some of it's worst medical outcomes . . . well, ever.
NHS Key Statistics: England, October 2019 - Commons Library briefing - UK Parliament
Quoting what I wrote just 2 days ago in this thread about this report:
EVNow
Well-Known Member
NY AG James on Twitter
Anthony Scaramucci on Twitter
BREAKING: We’ve secured a court order forcing President Trump to pay $2M in damages after admitting to illegally using the Trump Foundation to help him intervene in the 2016 presidential election and further his own political interests. No one is above the law.
BTW, some thing to consider for all Trump supporters. Exactly when do you abandon the Don ?
Anthony Scaramucci on Twitter
“The best time to plant a tree was 20 years ago. The second best time is now.” - Chinese Proverb
I, along with many of my fellow Americans, made a mistake in not abandoning
@realDonaldTrump sooner. But today is the next best day to leave the cult. Let’s fix this together.
I, along with many of my fellow Americans, made a mistake in not abandoning
@realDonaldTrump sooner. But today is the next best day to leave the cult. Let’s fix this together.
This could simply imply that a larger share of the taxes paid were by the less wealthy over time. Which, you know, wound match the rising disparity in wealth over decades.
Taxes don't cause wealth disparity. Our monetary policy does.
The Truth About U.S. Inequality
(tl;dr) The Fed with its quantative easing and zero interest rate policy stimulates inflation which raises the price of assets like real estate and stocks while also increasing the cost of living by driving up prices of basic commodities and rents. Obviously, the rich benefit from the former and the poor and middle class suffer from the latter.
Besides, government was smaller back when we had higher tax rates so your comparison is meaningless.
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JRP3
Hyperactive Member
Inflation rates are relatively low
What is the Current U.S. Inflation Rate?
Historical Inflation Rate- Annual Inflation rates from 1913 to the present |InflationData.com
JRP3
Hyperactive Member
I don't see a lot of rich people moving from California to Alaska. The rich could save a lot of money by not living in high value neighborhoods within their states now, but they don't do that. The idea that they would leave the country in droves because of a 1-6% wealth tax is ridiculous.
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