The Top 0.1 Percent

Discussion in 'Politics' started by b.c., Nov 21, 2011.

  1. b.c.

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  2. houtx48

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    Bush the gift that keeps on giving................
     
  3. Perados

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    as more importent is it now that the republikans still dont want higher tax...
    The super kommittee still doesnt has a result...
     
  4. Bbucko

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    Actually, they have a result, but it's just FAIL.
     
  5. Drifterwood

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    The very rich getting even richer is a natural consequence of unregulated capitalism.

    The problem is that consumers tend to be drawn to the products of unregulated capitalism, because they are cheaper. Most governments have not found an effective way of regulating for wider social benefit and keeping their industries competitive.

    Perhaps it requires a combination of consumers being more discerning and companies accepting quality regulation and taxation. The UK under Tony Blair and Gordon Brown, clearly failed in this respect.
     
  6. sargon20

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    ^ Those products are usually time bombs.
     
  7. AmiralMauth

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    I am not sure that lower taxes equals unregulated capitalism.

    Regardless of whatever antipathy the rest of us may feel towards the very wealthy, heavier taxes on investment by definition add to the cost of investment. It is therefore not a good idea to increase taxes on investment during a severe recession.

    What I think is that it's best to simply eliminate an additional capitals gains tax and merely tax profits from investment as income when said profits are removed from investment systems. This will remove barriers to investment, but will allow profits from investment to be taxed before they are enjoyed by their earners.
     
  8. TurkeyWithaSunburn

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    Well don't we all know that the rich get richer. The top tenth of 1 percent are so far removed from daily financial pressures of ordinary people they might as well be a king or queen in previous centuries. But the mention of taxing those gains and dividends at regular income rates draws out them out and those want to be super rich to say no. That and one party's dogmatic insistence that all taxes are bad.
     
  9. dandelion

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    The problem being talked about is the rich getting richer. I would suggest therefore that the solution is to tax this additional wealth. Since it is additional wealth already being taken out of a business, taxing away part of it, logically, should make no difference to the cost of goods.

    really? so how come in the UK we get free health care, guaranteed pension, unemployment benefits, free housing and Im sure lots of other things. These things have been comfortably funded for a long time now and no one is suggesting we have to cut back on their historical value, just really on planned future increases. Granted there are issues now about industry, but by and large we have kept industry competitive and expanded benefits.

    Though having said that, there was a recession in the UK in the 70s-80s and part of the solution by the conservative government under Thatcher was to boost private debt. Arguably this is only now surfacing as a problem.

    All taxes by definition add to the cost of things. If you follow that argument and believe low cost is good, then there would be no taxes. But we do believe taxes are necessary. It then becomes a question of what to tax. Whether taxes on investment are good or bad, fundamentally taxes must fall upon those people who have most money...because they have the money! it then follows that likely those same people with lots of money arent spending it on purchases but are investing it. So no alternative but to tax investments. Dont forget that tax money will end up back in the hands of people who will spend it buying goods made by industry... so it will return to those investors. The object of the game is to keep the money moving.

    Sounds fair to me. effectively capital gains tax rate=income tax rate. Nice and simple.
     
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