Talk-Polywell.org

Another way to rob us all:
http://robinhoodtax.org
A tax on investment, that will work real well when we need more INVESTMENT. we are not under taxed. We are dangerously overtaxed and overspent. The tax rate are already far too high on net investment and transaction fee will only slow down the velocity of transaction that is already flatlining. Warren Buffet thinks that people are stupid enough to pass taxes that he can benefit from by providing services to people trying to make a living. the fact that this would damage velocity even further doesn't effect him or any of the other so called "super rich" simply because they don't have to make the many transaction that growing business does. Look at this point more taxes is only eating ourselves. The likelihood of greater revenues just doesn't exist, simply because there is nothing left to tax without causing harm that will reach right across the economy in way that most people wouldn't believe. I would suggest stop playing the politics of stupid envy and try to think of things that actually provide growth.

Didn't Robin Hood steal from the tax collectors?

The alledgedly super rich don't own anything, they merely have possesion of the wealth and assets, the owner is usually a charitable trust/NGO that they happen to hold directorship thereof. Taxes apply to ownership, not possesion, additionally, charitable trusts are exempt from hostile takeover attempts against companies within. Many of these are ENGO's responsible for severe economic dislocations and population displacements in the name of nature conservation. The directors of these ENGO's can then purchase estates on the deeply discounted property within for donations, all tax deducted of course.

Rather than tax the rich, abolish NGO's/Charities/trusts as tax havens, or let everybody create their own on the cheap.

Ivy Matt wrote:Didn't Robin Hood steal from the tax collectors?

Indeed he did. But the connection between "rich" and "government" in that tale is lost on many today.

choff wrote:Taxes apply to ownership, not possesion,

I'd say most taxes apply to transactions.

Jccarlton wrote: A tax on investment, that will work real well when we need more INVESTMENT. we are not under taxed. We are dangerously overtaxed and overspent.

Overspent, certainly. Overtaxed, possibly. But a large part of the problem is that many tax systems in the world do even worse than a completely neutral system that taxes every monetary transaction equally. They put high taxes on transactions like employment whereas less important transactions are taxed less or nothing at all.

the fact that this would damage velocity even further doesn't effect him or any of the other so called "super rich" simply because they don't have to make the many transaction that growing business does.

What are those many transactions that growing business have to make that would be hit by this tax?

What are Republicans saying the tax rate should be right now? Realizing this answer could change over time due to the state of the economy. Is there some sort of standard model people use to come up with the rate? I know many folks don't want an income tax, but since we have one, what is the consensus on what the rate should be at this time and where should it come from?

I assume 0% on cap gains, but how does this breakout overall?

Flat tax of 20% for individuals and families before deductions? What...same on business?

Numbers any one?