How did your taxes turn out?

[iris lilies]

Wow a little over a 100 compared to what the wealthy get. Plus our deficit is exploding.

I’m not concerned with what my neighbor gets, that’s a real dog in the manger kind of way to live your life.


The deficit, however, is very concerning to me and always has been. We need a financial leader in the White House who says “children you don’t have money to go buy all these toys that you think you need” .

But after a series of children in the White House over decades I doubt our populace would entertain for five seconds a grown-up who makes us spend according to our income.

[Teacher Terry]

I care that corporations are not only not paying taxes but getting refunds in the millions which is causing our deficit to explode.

[Alan]

I care that corporations are not only not paying taxes but getting refunds in the millions which is causing our deficit to explode.

Deficits seem to be funny things. When I complained about them on these forums when they were in the 10 to 20B dollar range everyone told me that deficits were not bad, they were just something racists complained about because of their racism so just shut up you stupid racist who isn't even smart enough to vote in your best interest.

Now they're bad again, it's confusing.

[Alan]

Not yet anyway, not until Elizabeth Warren is in the White House and can lead her social justice warriors to confiscating my assets.

Oh, I think it's more pernicious than just Elizabeth Warren, the Democrats have been prepping us for that for the past decade. Remember, those assets of yours, you didn't build that.

[jp1]

Not yet anyway, not until Elizabeth Warren is in the White House and can lead her social justice warriors to confiscating my assets.

Dang. You've got over $50 million in assets!? I'm impressed!

[iris lilies]

Dang. You've got over $50 million in assets!? I'm impressed!

No but once that slope is targeted, it is damn slippery...

[JaneV2.0]

Maybe if we raised federal taxes back to fifties-era levels, we would have more revenue to fund things like infrastructure. (Not to mention closing tax loopholes, etc.) Just a thought.

[Alan]

Maybe if we raised federal taxes back to fifties-era levels, we would have more revenue to fund things like infrastructure. (Not to mention closing tax loopholes, etc.) Just a thought.

26% on all income over $17K, 43% on all income over $100K and 90% or more on $1M plus? That would raise a lot of revenue for sure, maybe for a year or two.

[Teacher Terry]

Some of you make me laugh. No one is stealing anyone’s assets.

[Alan]

Some of you make me laugh. No one is stealing anyone’s assets.

As noted earlier, Elizabeth Warren has promised a wealth tax if elected. Other countries currently have some version of a wealth tax where wealth is considered the sum of all cash accounts, property, investments and pension funds or some combination thereof. You can see examples in Argentina, France, Spain, Norway, Canada, Netherlands and Switzerland.

I would expect it to start here under Senator Warren's plan as she has specified, a small percentage of a persons net worth over a specified amount. Then, depending upon how much utopia that provides, incrementally increasing the percentage while dropping the specified asset total until the appropriate level of utopia is realized.

And a word to the wise, don't refer to it as "stealing assets", history has shown that when you get to that level of subservience to the government, it has lost its sense of humor.