idea #49065

ruthless

ruthless

Rift Surfer
what does everyone think about this: create a "rich tax" anyone making over 500k a year must pay 5-10% of their total earnings. also, create something called a poor profit. anyone making less than 100k a year would get the money from the rich tax.

i was just thinking this would be a perfect way to end poverty and boost the economy tremendously in the u.s.
 
Ruthless

I believe your idea would make it even worse for us all. The rich invest into the economy. Makes them richer in the process. But without that investment capital, the economic machinery would grind to a halt. No economy means no jobs. All because someone decided to tax the people that create jobs.

I have a better idea. Create a deflationary dollar. The government created the inflationary fiasco that we all suffer for. So if a halt or reversal is to take place, all incomes have to be supplemented to an uninflated dollar status. Inflation could either be halted or reversed using the deflationary dollar. Call it the balanced dollar constitutional amendment.
 
From each according to his abilities, to each according to his needs.
Hmmm. Where have I heard THAT before? /ttiforum/images/graemlins/confused.gif
 
what does everyone think about this: create a "rich tax" anyone making over 500k a year must pay 5-10% of their total earnings. also, create something called a poor profit. anyone making less than 100k a year would get the money from the rich tax.

i was just thinking this would be a perfect way to end poverty and boost the economy tremendously in the u.s.
Click to expand...

Unfortunately we've had just that system here for the past 98 years, starting with the Wilson Administration cr 1913 and taking off full steam ahead with the Roosevelt Administration. We call the "Rich Tax" the progressive Federal income tax. The "Poor Profit" we call the Welfare State.

The result of this experiment is that just short of half of all US wage erners pay zero Federal income tax and take all of the fruit of the welfare state's tax payers. Those who actually pay the income tax are no longer qualified to partake in any of the profits. In just a few short years they will be the numeric minority of eligible voters while those who guide their lives by dependency on government "poor profit" will be the majority of eligible voters. Once that happens there's little chance that the recipient class would ever vote to end or even downsize the Welfare State (though who would be actually working to pay the tax for the system would be a bit of a problem).

The welfare state has failed everywhere else in the world and it is a failure here...and our government, especially on the left, continues to move our economy ever closer to an outright facist model.

The real issue here, at the Federal level, is where does the Federal Government derive its authority to take my money at the point of a gun and give it to someone else while telling me that I have no right to partake in the program myself. And, yes, it is at the point of a gun. Try refusing to pay your income tax. Eventually a law enforcement agent will show up at your doorstep and s/he will be armed. Any law, all law, that has a criminal sanction is given at the point of a gun. That doesn't make it wrong, evil or unreasonable per se - it's just a fact that to enforce the law there comes a time where a deadly weapon and the threat (implicit or explicit) of using force makes its way into the scenario.
 
well, i guess you are right. i just did a little math, and if you were to tax every american that makes over 200k/yr. with a 10% tax and then give it to those that make less than 200k/yr., each one would get a 326.70 check.

but if we were to give it to only those below poverty level (12% in the usa) they would get a 2714.38 check.

all in all i guess its not the greatest idea. that check would definitely help those in need, but it doesent seem very viable. actually it raises more questions than it answers.
 
Ruthless,

You're correct -it raises more questions than it answers.

Old Harry Truman told a story about a man whose boss gave him a bottle of whiskey for Christmas. Harry asked him how it was. The Guy answered, "If it was any worse I wouldn't have drunk it and if it was any better he wouldn't have given it to me."

That srory is the Welfare State in a nutshell. It offers the poor just enough to keep them alive while keeping them poor but voting Democratic. The Welfare State has no intention to make them anything but poor and addicted to government handouts for life - cradle to grave.

The other night prior to the Republican NH presidential candidate debate I heard a question from a university student who wanted to know what the Republican candidates would do as President to get financial assistance to college students so they could live the American Dream. That's what it has come to; the American Dream is no longer a rugged individualist making the dream come true. Instead it has become making it come true on the back of your neighbor by taking his/her money and giving it to some schlemeil going to college who needs to get real, stop whining, realize that getting a college education is not a Constitutional right and get a job to pay the tuition.
 
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