New poll finds overwhelmingly support for taxing the rich's wealth

[JacksinPA]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
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Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

 

[Harshaw]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
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Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

At least you're open about wanting to rob the rich.

 

[apdst]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
==================================================
Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

What's their plan for when the rich folks run out of money?

Not that this anything more than primer for the base. Those rich politicians aren't to slap a 70% tax on themselves.

 

[Grokmaster]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
==================================================
Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

Since over half the country is ALREADY BING SUPPORTED BY THE PRODUCERS..not surprising.


Now let's poll ONLY PEOPLE WHO PAY INCOME TAXES....

 

[RabidAlpaca]

At least you're open about wanting to rob the rich.

If you're pushing the hyperbole far enough to call it "theft", then all taxes are theft. In reality, the tax bracketing is completely arbitrary and the current arbitrary tax rate for the top brackets is much lower than its been before.

 

[Taylor]

I think this lesson has been learned enough times in other countries to ensure that it never happens here, but you never know when one half of the political establishment consistently puts wealth-envy at the top of their platform.

 

[Harshaw]

If you're pushing the hyperbole far enough to call it "theft", then all taxes are theft.

He's the one who brought up theft and likened it (his proposed tax) to robbing a bank.

 

[Grokmaster]

If you're pushing the hyperbole far enough to call it "theft", then all taxes are theft. In reality, the tax bracketing is completely arbitrary and the current arbitrary tax rate for the top brackets is much lower than its been before.

And still MUCH HIGHER than everyone else's....

 

[Xelor]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
==================================================
Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

Red:
I'm not surprised that lots of folks, most of whom don't have wealth approaching $50M, let alone that much or more, support the idea. I don't, however.

There are several reasons why, but they all accrue from my realizing that high wealth and high income are two very different things. For instance:

• My nonagenarian mother is, by most folks' reckoning, a wealthy woman. When Dad first retired, she and he were indeed wealthy if having $50M in assets is the measure of being so. They owned three homes, two in pricey locales and another in a rural setting but it has a sizable parcel of land accompanying it. Those assets alone comprised a material plurality of their wealth. They also had various financial investments and a couple rental properties that did produce a modest income.
  
  As their dotage progressed, they did what most folks do: gradually liquidate the principal in their financial instruments. They did that because despite being comfortable in terms of wealth, the receipts from their investments and rental income needed supplementing if they were to afford themselves. That, of course, wasn't an issue because that's the point of having them.
  
  Now, let's assume there was a 3% tax on assets, rather than income, of $50M. That's $1.5M! Well, for Christ's sake! They weren't drawing $1.5M+/year in income from their assets. Not even a sum remotely close to it. Simply, the tax on their wealth would have cost more than the whole of their other annual expenses/spending for more than five years.

As you can see from the illustration above, a wealth tax, unlike income taxes, stand to force people to pay more in taxes than they actually receive in income. Whatever form of taxation a nation might implement, a tax that exceeds one's current income is a tax that makes no sense.

If folks feel the need to increase the tax rates applicable to high incomes, fine. But taxing assets, well, no, I'm not ever going to cotton to that.

 

[Fletch]

https://thehill.com/hilltv/what-ame...s-overwhelmingly-support-taxing-the-wealth-of

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX survey released Wednesday found that 74 percent of registered voters back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.
==================================================
Depression era gangster Willy Sutton when asked why he robbed banks replied that that was where the money was. As far as taxing the very wealthy, the same logic applies.

Show of hands: Who here wants something of value that someone else has to pay for?

Thats essentially what your poll asked and its good to know that 26% of the public still opposes theft.

 

[lwf]

Show of hands: Who here wants something of value that someone else has to pay for?

Thats essentially what your poll asked and its good to know that 26% of the public still opposes theft.

Is that what we're doing when we drive on roads? What about when someone breaks into our house and we expect the police to show up? If we want the fire department to come save our house from a fire, are we expecting to get something that someone else has to pay for?

 

[Fletch]

Is that what we're doing when we drive on roads? What about when someone breaks into our house and we expect the police to show up? If we want the fire department to come save our house from a fire, are we expecting to get something that someone else has to pay for?

But thats a fraudulent argument. No one is proposing higher taxes for roads and police. They are proposing higher taxes on one set of people in order to transfer that wealth directly to another group of people. Nice try though

 

[Tanngrisnir]

At least you're open about wanting to rob the rich.

LOL! How desperate and intellectually bankrupt does one have to be to delude themselves that this is somehow, magically, 'robbing' anyone?

 

[lwf]

But thats a fraudulent argument. No one is proposing higher taxes for roads and police. They are proposing higher taxes on one set of people in order to transfer that wealth directly to another group of people. Nice try though

What do you think taxes are used for? The purpose of taxes is to transfer wealth to the community. A wealthy community is a strong community that benefits everyone, even the rich. Keep in mind that any group of people who gain monetary benefit from a higher tax on the wealthy spend that money in the market place, strengthening the economy. It trickles back up into the accounts of the wealthy anyway, and the poorest members of the community have their lives improved in the mean time.

 

[Fletch]

What do you think taxes are used for? The purpose of taxes is to transfer wealth to the community. A wealthy community is a strong community that benefits everyone, even the rich. Keep in mind that any group of people who gain monetary benefit from a higher tax on the wealthy spend that money in the market place, strengthening the economy. It trickles back up into the accounts of the wealthy anyway, and the poorest members of the community have their lives improved in the mean time.

So youve changed your argument. Now you are justifying theft for economic reasons. Fine. So if I put a gun to your head and demand that you pull $300 from your ATM machine and give it to me thats a good thing because I am going to spend that money in the market place and most will likely trickle back to you anyway. Tell you what, how about you just send me the $300 bucks so I dont have to lurk in the shadows waiting for you to arrive at the ATM

 

[Rogue Valley]

At least you're open about wanting to rob the rich.

The middle class wants their forced GOP donation to the rich returned.

 

[Fletch]

LOL! How desperate and intellectually bankrupt does one have to be to delude themselves that this is somehow, magically, 'robbing' anyone?

Actually, its intellectually and morally bankrupt not to see it as theft so its hardly a shock that you dont recognize it as such.

 

[Fletch]

The middle class wants their forced GOP donation to the rich returned.

Returned to whom?

 

[Roadvirus]

Steal money from people who earned it and give it to people who are too ****ing lazy to work a day in their lives.

 

[Tanngrisnir]

Actually, its intellectually and morally bankrupt not to see it as theft so its hardly a shock that you dont recognize it as such.

LOL! The ironic thing is, you simply wouldn't know. Taxation is not theft or robbery, no matter how much that upsets you.

Pro-tip: words have meanings. I suggest you look into that.

 

[Harshaw]

LOL! How desperate and intellectually bankrupt does one have to be to delude themselves that this is somehow, magically, 'robbing' anyone?

The middle class wants their forced GOP donation to the rich returned.

It's the OP who likened it to robbing a bank, so your issue is with him. I merely took him at face value.

("Forced GOP donation to the rich." Heh.)

 

[Fletch]

LOL! The ironic thing is, you simply wouldn't know. Taxation is not theft or robbery, no matter how much that upsets you.

Pro-tip: words have meanings. I suggest you look into that.

That is exactly what I would expect the morally and intellectually bankrupt to say.

 

[Tanngrisnir]

That is exactly what I would expect the morally and intellectually bankrupt to say.

LOL! Coming from someone with your pathological dishonesty? You'll understand why what you say is never taken seriously.

Taxation is not theft. Words have meanings.

Fun to watch how that upsets some people.

 

[Fletch]

LOL! Coming from someone with your pathological dishonesty? You'll understand why what you say is never taken seriously.

Taxation is not theft. Words have meanings.

Fun to watch how that upsets some people.

Whos upset by it? Your morally and intellectually bankrupt posts brighten my day.

 

[lwf]

So youve changed your argument. Now you are justifying theft for economic reasons. Fine. So if I put a gun to your head and demand that you pull $300 from your ATM machine and give it to me thats a good thing because I am going to spend that money in the market place and most will likely trickle back to you anyway. Tell you what, how about you just send me the $300 bucks so I dont have to lurk in the shadows waiting for you to arrive at the ATM

A better analogy: You live in a nice neighborhood with several playgrounds, well maintained sidewalks, and a large pool. A group of your neighbors want to get together and chip in to keep the neighborhood nice. They tell you that, for the privilege of having your house in the neighborhood, you are required to surrender a percentage of your income to the home owner's association.

Theft?