a 1% tax on net wealth above $20 million would generate nearly $70 billion in new revenue in 10yrs

Discussion in 'Reality Check' started by Boots, Nov 14, 2019.

  1. infatuous

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    Keep in mind, I'm not arguing against raising their tax rate or closing loopholes. I am against taxation on the amount of their wealth because it's an immoral tax. If you want to try taxing them 80% on that extra 20mil they brought in last year, go for it. I just don't feel that the government has a right to chip off their principle assets. Not sure why you find that so controversial, but how would you like it if the feds just knocked on your door and take half your stock portfolio from you?
     
  2. HairyAss

    Cheese on Toast

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    Your examples still ignore the difference between a billionaire and a regular person. I would assume if I take half of your stock portfolio, it could significantly impact your quality of life when it comes to things like retirement, etc. Let's say you're a 10 billionaire. If I take away 5 billion, you still have 5 billion dollars which is more money than any one person can reasonably spend in their lifetime which begs the question... why should any one human need that much money and aren't there things it could be used for to better the world?
     
  3. infatuous

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    The problem with your line of thought is that it's scalable, all the way down to you and I. Stop fucking trusting governments to 'do the right thing'. They don't. They never have, they never will.
     
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  4. Boots

    Boots
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    The topic this thread is about is for people sitting on over $20,000,000 .. a miniscule amount of the population.
     
  5. infatuous

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    Yep. So we take their money and the government pisses it away. Then they look at those with $10,000,000, and they piss their money away and so on. You really don't understand how they operate? Also, I know people that own businesses worth over $20million. I guarantee you they don't have a pile of cash on hand to just cash out whatever percent is demanded when the CRA comes with their hand out. That's not how businesses operate.
     
  6. Boots

    Boots
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    Ugh, this attitude drives me crazy. "Don't change anything because it'll lead to more change" ... Fear based thinking that keeps us repeating the same stupid mistakes over and over again. Same logic that has the USA under constant 'Active Shooter' lookout.
     
  7. infatuous

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    OK, now you're just conflating different issues in order to confuse the topic at hand. Well, the USA has a shooter problem, so we should be able to rob the rich by taking their assets. This is why left wing policies always fall short for me. Now the climate change issue is mixed up with racism and 'the patriarchy' somehow. It all adds up to a bunch of hamstering on how we steal money from the rich, which going back to my original point, is immoral.
     
  8. Boots

    Boots
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    You missed my point. My point is, you can't fear making a change because it may lead to other changes.
     
  9. 17

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    A business worth 20mm and a net worth of +20mm are not the same thing.
     
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  10. infatuous

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    Depends on the ownership structure of the company, but no shit. How do you imagine the CRA is going to measure wealth then when we decide to start stealing from the rich.
     
  11. Boots

    Boots
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    Did you read the actual article we are talking about? lol
     
  12. 17

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    or the thread title
     
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  13. HairyAss

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    You're both making an assumption that infatuous can actually read.
     
  14. 17

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  15. infatuous

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    Oh, I understand the article. I'll just never understand those who think we should give the government more money. Anyway, have fun with your little lefty circle jerk. The site sure is fun now that it's down to 3 users with too much time on their hands.
     
  16. 17

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    It’s not “we”

    Hence the entire Thread
     
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  17. HairyAss

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    I love how if 2+ people agree against a more conservative/right wing thought, they label it as a circle jerk.
     
  18. Duggan

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    I don't care if you guys use your left or right, I am here for the circle jerk.
     
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  19. Boots

    Boots
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    :rofl:
     
  20. Boots

    Boots
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    I think it's more like a triangle jerk
     
  21. Smokey

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  22. Boots

    Boots
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    I wonder what his definition of low on cash is :rofl:
     
  23. Cheddar

    Red is the New Green

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    How come anytime someone disagrees with you, you just blame a leftist ideology as the cause? It's entirely possible to form an opinion on something without relying on a political party for guidance.
     

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