Far left economics

[luckyanderson 379]

1 hour ago, shoful said:

Love the url:

”Democrats are losing their minds”

and “Democrat’s Pointless War on Business”

Media getting it right 

But idk I think we need a middle ground for all of this nonsense

When has anything substantial ever been accomplished on a "middle ground?" Do you by chance mean what has been settled and compromised on (i.e. off-shooting the agenda and preventing true progression with temporary solutions to long-term problems facing Americans)?

[Economy 52,861]

1 minute ago, corvus albus said:

Did you know that in Germany we have an income tax of 45%? 50-55% is not a whole lot if you ask me and we have a more better economy eventhough our taxes are higher.

What are ur state/provincial taxes? That should be factored in too

 

50% actually becomes over 60% in most states

[corvus albus 38,031]

14 minutes ago, MonterAK said:

Keep helping the rich getting richer and the poor poorer? Oh please. Liberalism gives the chance in a free market to everyone to work and become rich. On the other side, socialism and left have the state in the center and want everyone to be poor, by having high taxes and a highly controlled market where being successful is much harder, and then giving back to the people subsidy money to keep them happy.

Oh no. Low rent and upkeep costs are so terrible. You know that this is not how capitalism works right? Capitalism isn't a: everybody can be Rockefeller story. Being successful in socialism isn't much harder because I have a mother, two aunts and a great aunt who all were able to study in the GDR because they were determined and willing to do some work. You are simply lying.

[corvus albus 38,031]

3 minutes ago, Economy said:

What are ur state/provincial taxes? That should be factored in too

 

50% actually becomes over 60% in most states

Overall it's basically 50% as the highest taxation. Germany even has the second highest taxes for its citizens behind Belgium.

https://www.welt.de/wirtschaft/article175842986/Steuerlast-Nur-ein-Land-verlangt-noch-hoehere-Steuerbeitraege-von-den-Buergern.html

[Economy 52,861]

5 minutes ago, corvus albus said:

Overall it's basically 50% as the highest taxation. Germany even has the second highest taxes for its citizens behind Belgium.

https://www.welt.de/wirtschaft/article175842986/Steuerlast-Nur-ein-Land-verlangt-noch-hoehere-Steuerbeitraege-von-den-Buergern.html

That's about the same as Canada then. 50% is our top bracket when u add provincial taxes. Varies slightly by province tho

 

In my province Ontario it's 54%

[HorusRa2 5,005]

Everything is more nuanced than left and right. Let’s be frank. America can afford to make less money in corporate profits to help pay for in part social programs that results in a more intelligent and healthy work force. I support increased taxes on corporations (just a moderate increase) and large increases on the wealthiest of Americans who aren’t investing in capitalist ventures. In other words, if you have more money than you can spend and you aren’t using it to benefit the economy, I want a large amount of that money to become tax revenue. 

[Economy 52,861]

8 minutes ago, HorusRa2 said:

Everything is more nuanced than left and right. Let’s be frank. America can afford to make less money in corporate profits to help pay for in part social programs that results in a more intelligent and healthy work force. I support increased taxes on corporations (just a moderate increase) and large increases on the wealthiest of Americans who either aren’t investing in capitalist ventures. In other words, if you have more money than you can spend and you aren’t using it to benefit the economy, I want a large amount of that money to become tax revenue. 

Any tax increases on Corporations should be very small because Corporate taxes are basically middle class taxes too

 

Also while some increase in taxes on wealthiest Americans is duable, I don't know about "large" increases. With state taxes most states are at least 45% already on top backet a few like California not far from 50%

 

How much of an increase are u talking about when you say "large" increase

[Woolfsmck 2,763]

45 minutes ago, Economy said:

I think even that might be pushing it... 50% maybe 55% I can agree with then again it's also a matter of opinion there's no magic number we can prove starts to have a negative impact

 

What's her opinion on Corporate taxes?

 

<personal income tax> in Germany isn't relevant to the proposed <marginal tax>  income over 10 million ...

Also,  again, the EU is unique and not really  comparable to the US in terms of policy.

The US is wealthy  due to mass quantity  than pure demand of quality.  Much like China,  there are large segments of under privileged. 

 

[Woolfsmck 2,763]

1 hour ago, MonterAK said:

Left and socialism are pure bullshit. Liberal right for me is the right choice. And because I'm not someone important, let's see what Margaret Thatcher said : "There are only two political philosophies, only two ways of governing a country. One is the Socialist-Marxist way in which what matters is not the people but the State. In which decisions affecting people's lives are taken from them, instead of being taken by them. In which property and savings are taken from the people instead of being more widely held among them. In which directives replace incentives. In which the State is the master of the individual, instead of the servant.” The other, she said, was, “A free economic system” which “not only guarantees the freedom of each individual citizen, it is the surest way to increase the prosperity of the nation as a whole". 

Thank you, next 

This out lines my view on increasingly adding to the tax burden on business  . 

[Economy 52,861]

Just now, Woolfsmck said:

<personal income tax> in Germany isn't relevant to the proposed <marginal tax>  income over 10 million ...

Also,  again, the EU is unique and not really  comparable to the US in terms of policy.

The US is wealthy  due to mass quantity  than pure demand of quality.  Much like China,  there are large segments of under privileged. 

 

What does she have to say about Corporate taxes?

[Woolfsmck 2,763]

2 minutes ago, Economy said:

What does she have to say about Corporate taxes?

?   Haven't seen it.   ?

[A Hybrid 11,049]

I’m sorry, this tag is reserved for @Economy

[Mr Judas 4,106]

I personally find the article a bit overdramatic 

[HorusRa2 5,005]

18 minutes ago, Economy said:

Any tax increases on Corporations should be very small because Corporate taxes are basically middle class taxes too

 

Also while some increase in taxes on wealthiest Americans is duable, I don't know about "large" increases. With state taxes most states are at least 45% already on top backet a few like California not far from 50%

 

How much of an increase are u talking about when you say "large" increase

In terms of corporations, I’m not saying increase tax rates on small businesses or mid sized businesses. I’m referring to companies like Amazon, Disney, Universal, etc etc. So either we change how they can lower their taxable income or we increase the tax rate. Again, I’m not saying bankrupt corporations with taxes but they should pay more taxes than your average middle class worker. 

 

In in terms of wealthy individuals and their tax increase, I would say we can start at lower than AOCs marginal tax rate of 70% and let’s try 50-55% on income over the 10 million. For greater than 1 million and less than 10. Maybe 40% on the income greater than 1 million & 12% on the first million. 

 

Im not a tax expert but that does not seem far left to me. It isn’t fair to rich individuals and the profit motive but I do not see a moral reason for people, individuals to have more than 1 million income in a year. 

[Economy 52,861]

4 minutes ago, HorusRa2 said:

In terms of corporations, I’m not saying increase tax rates on small businesses or mid sized businesses. I’m referring to companies like Amazon, Disney, Universal, etc etc. So either we change how they can lower their taxable income or we increase the tax rate. Again, I’m not saying bankrupt corporations with taxes but they should pay more taxes than your average middle class worker. 

 

In in terms of wealthy individuals and their tax increase, I would say we can start at lower than AOCs marginal tax rate of 70% and let’s try 50-55% on income over the 10 million. For greater than 1 million and less than 10. Maybe 40% on the income greater than 1 million & 12% on the first million. 

 

Im not a tax expert but that does not seem far left to me. It isn’t fair to rich individuals and the profit motive but I do not see a moral reason for people, individuals to have more than 1 million income in a year. 

It's not that simple. First of all the size of the Corporation doesn't mean anything. There's mid size corps that are highly profitable just as there are large corps running losses

 

Secondly Corporations are not like your everyday business that has an owner at the top of the chain. These are publicly listed companies. Anyone can invest in them

 

Average Joe's invest in shares too also pension and retirement funds largely grow by investing in Corporations stocks. Affect their performance and u affect people's retirement funds too

 

Also many Corporations profit margins are only 5% to 15% of revenue. Tax them more and to make up for the loss higher prices will get passed on to consumers

 

It's better to target the rich individuals with income taxes and even higher capital gains taxes on equity gains over a certain threshold

 

If u just raise taxes on the companies thenselves u end up costing the middle class too