Comments on: Higher taxes for thee but not for me https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/ A blog about political change, among other things Wed, 06 Feb 2019 07:30:24 +0000 hourly 1 https://wordpress.org/?v=7.0.2 By: AesopFan https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421963 Wed, 06 Feb 2019 07:30:24 +0000 https://www.thenewneo.com/?p=84505#comment-2421963 Roy in Nipomo on February 4, 2019 at 10:20 pm at 10:20 pm said:
Flat tax (e.g. 17%) on all income (salary, interest, capital gains, etc, possibly including “employer paid” benefits).
* * *
God (Jehovah) only asked for 10%.

]]> By: Surellin https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421874 Tue, 05 Feb 2019 18:41:57 +0000 https://www.thenewneo.com/?p=84505#comment-2421874 Let’s go all sophisticated and European. Tax the bottom half of the middle class (say, basic government clerks, elementary teachers, etc). at 20-25 percent, other groups proportionally. Let’s see how popular that is.

]]> By: Roy in Nipomo https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421835 Tue, 05 Feb 2019 03:20:17 +0000 https://www.thenewneo.com/?p=84505#comment-2421835 Flat tax (e.g. 17%) on all income (salary, interest, capital gains, etc, possibly including “employer paid” benefits). Only deductions would be for individuals (e.g. $7,000/person) and possibly a retirement account. Almost everyone would have skin in the game, then.

]]> By: Fred the Fourth https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421834 Tue, 05 Feb 2019 03:13:47 +0000 https://www.thenewneo.com/?p=84505#comment-2421834 Continuing from Richard Saunders’ remarks…
US political history shows fashions in what gets “horse traded” during the legislative process.
One era trades water projects, the next trades highway projects, and so forth.
In the era of very high marginal federal tax rates (which went well over 75% IIRC), the thing that was traded among legislators was tax breaks.
Now, the nice thing about tax breaks as a medium of exchange in the legislative corruption economy, is how easy they are to conceal (unlike, say, bridges to nowhere, or unused interstate sections). A few words in section 28.23, para. 12, line 6, and Bob’s Your Uncle. It’s trivial to write something that looks general-purpose, but actually applies to only one company, for instance. Who’s gonna see it except their corporate tax guy?
So really, the political (and some business) folks flogging high rates are mostly just advocating for a more corrupt government. Rent-seekers and grifters, the lot of them.

]]> By: LYNN HARGROVE https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421831 Tue, 05 Feb 2019 02:39:56 +0000 https://www.thenewneo.com/?p=84505#comment-2421831 I found it interesting the part that Cordell Hull played in the Income Tax intro. The longest person to serve as Sect of State, under FDR.

]]> By: charles https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421825 Tue, 05 Feb 2019 01:42:36 +0000 https://www.thenewneo.com/?p=84505#comment-2421825 Neo, I totally agree with you on the reason the Ten Commandments include a prohibition on “coveting”. I’ve often said that to others.

What I’ve also wanted to say to those rich who say they are fine with paying higher taxes is: “Go ahead! No one is stopping you from paying more than Uncle Sam says you owe.”

But, it would be a waste of my breath; because everyone knows they don’t really want to pay higher taxes. They just want the other rich folks to pay higher taxes; while looking good for saying it yet finding every loophole they can.

]]> By: Richard Saunders https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421821 Tue, 05 Feb 2019 00:51:54 +0000 https://www.thenewneo.com/?p=84505#comment-2421821 It’s fine with me. When I started as a tax lawyer in 1977, the maximum marginal tax rate was 70%, which nobody paid. (70% x 0 < 28% x 1) Not until the Tax Reform Act of 1986, which substantially reduced deductions and tax shelters, did the rich pay taxes. (And boy, did they scream about it!) Forty-two years of experience tells me that if Fauxcohantas, Kamaladollading-dong and their friends succeed in getting a 70% maximum marginal rate, there will be plenty of loopholes built in the bill, enough to keep me busy for a long time.

My motto: "I don't care whether they raise 'em or lower 'em, just keep changin' 'em!"

]]> By: Julie near Chicago https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421807 Tue, 05 Feb 2019 00:04:56 +0000 https://www.thenewneo.com/?p=84505#comment-2421807 Neo, thanks for the explanation. You’re a mensch. (“Menschess”?)

]]> By: Geoffrey Britain https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421802 Mon, 04 Feb 2019 23:43:12 +0000 https://www.thenewneo.com/?p=84505#comment-2421802 Apparently, 76% of today’s Americans are fine with theft as long as they have the cover of the mob.

“Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.” Founder John Adams

]]> By: Kate https://thenewneo.com/2019/02/04/higher-taxes-for-thee-but-not-for-me/#comment-2421799 Mon, 04 Feb 2019 23:29:33 +0000 https://www.thenewneo.com/?p=84505#comment-2421799 I don’t think that most people would want to be punished for being successful. They should think about this more clearly.

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