Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
New Democrat Plan To Tax The Rich, Taxing Assets. Will It Work?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="AKCoverMan" data-source="post: 5499646" data-attributes="member: 17867"><p>People like to point out Rich Folk who pay no income tax but often fail to understand those two words “income tax”.</p><p></p><p>Example: I start with a billion dollars, invest half a billion in something and lose half of it during the year all while living large on a couple million dollars. At the end of the year, I’m still living large with still nearly 3/4 a billion dollars in wealth. But I had no “income” I lost money on investment and did not work all year (I am a party animal!) so I owe nothing. I could keep spending two million a year on lifestyle and never pay a penny of income tax.</p><p></p><p>Thats our income tax system. But if we tax spending instead of income then the only way Rich Folk don’t pay is to not spend any of their money…which isn’t gonna happen.</p></blockquote><p></p>
[QUOTE="AKCoverMan, post: 5499646, member: 17867"] People like to point out Rich Folk who pay no income tax but often fail to understand those two words “income tax”. Example: I start with a billion dollars, invest half a billion in something and lose half of it during the year all while living large on a couple million dollars. At the end of the year, I’m still living large with still nearly 3/4 a billion dollars in wealth. But I had no “income” I lost money on investment and did not work all year (I am a party animal!) so I owe nothing. I could keep spending two million a year on lifestyle and never pay a penny of income tax. Thats our income tax system. But if we tax spending instead of income then the only way Rich Folk don’t pay is to not spend any of their money…which isn’t gonna happen. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
New Democrat Plan To Tax The Rich, Taxing Assets. Will It Work?
Top