It’s time to tax the super rich – Here is Why I Disagree

It’s time to tax the super rich – UnHerd
— Read on unherd.com/2019/02/its-time-to-tax-the-super-rich/

Taxing the rich sounds great to many people who buy into big government fixes for free market problems. Taxes will benefit politicians with more income to redistribute. Taxes take money and opportunities out of the private sector. The rich can afford to move and take their money with them.

I would eliminate tax loopholes that disproportionately help the Uber wealthy. Government contractors and contracts are not held accountable for cost over runs. An roi needs to be done on all government run or funded programs. Campaign contributions from rich donors and corporations should be banned or capped at a very low level, with no loopholes. The revolving door between holding government office and the corporate, media, defense, tech, any lobbying groups should be stopped.

AOC is probably well intended but she is very new to the game and not aware of the root problems that are systemic.

Stop bringing in thousands of migrants who keep downward pressure and wages. There is a causes and effect correlation here.

39 comments

  1. ragnarsbhut · March 24

    What is a reasonable rate in your opinion?

    Liked by 1 person

    • johnbarleycorn12 · March 24

      Hard to say but we can’t just tax the Uber rich, there aren’t enough of them to get us out of a 22 Trillion dollar national debt. My answer would be to shrink the government, or at least stop spending more than we make from this point on. Perhaps we could pay off the rest with the savings on the interest.

      Like

  2. ragnarsbhut · March 24

    I would rather tax consumption over income. However, if we had a flat tax, I say tax earned income and capital gains at the same rate. No estate tax, no corporate tax, no alternative minimum tax, no payroll tax and no wealth tax.

    Liked by 1 person

    • johnbarleycorn12 · March 24

      I like the way you think. This way everyone pays into the system. If they want more from the government, it costs them more in the form of increased taxation.
      Your idea would make the cost of implementing and monitoring our taxes much less. Fewer IRS employees, tax lawyers, accountants, and tax cheats.

      Like

  3. ragnarsbhut · March 30

    Between a flat tax that taxes earned income and capital gains at the same rate and a consumption tax, what would you prefer?

    Liked by 1 person

    • johnbarleycorn12 · March 30

      I like the consumption tax the best. Which would be your preference?

      Like

      • ragnarsbhut · March 30

        I would also be in favor of a consumption tax. Having said that, if we went with a flat tax, I would be in favor of taxing earned income and capital gains at the same rate. No estate tax.

        Liked by 1 person

      • johnbarleycorn12 · March 31

        Jack Kemp worked for years trying to get people on board with the flat tax. The establishment politicians from both parties tabled the idea. Too bad it was never adopted. I like your idea about no estate tax with it.
        Either system would be far superior to what we have now.

        Like

  4. ragnarsbhut · April 12

    Jack Kemp is someone I know of by name.

    Liked by 1 person

    • johnbarleycorn12 · April 12

      I thought he had some great ideas that nobody wanted to implement. A complicated tax system is a jobs program for, lawyers, politicians,prosecutors, accountants,and government employees.
      A flat or VAT tax would cut down on the gravy train.

      Like

  5. ragnarsbhut · April 13

    John, why does this not surprise me?

    Liked by 1 person

  6. ragnarsbhut · April 13

    John, I know that I said I would support taxing capital gains at the same rate as ordinary income if we went with a flat tax. If both were taxed at the same rate, what rate would you like to see respectively? Personally, I say tax them both at 15%.

    Liked by 1 person

    • johnbarleycorn12 · April 13

      Let me research those present rates and some comparisons before I answer. That is a good question that I had not considered.

      Like

    • johnbarleycorn12 · April 13

      I like that idea for the US it holds some great middle ground. Having trouble locative data worldwide, but will continue looking.

      Like

    • johnbarleycorn12 · April 14

      The world view on this excluding tax havens, seems to have Ireland in the lead with. 10% corporate tax rate which has been great for their economy but has radically changed the culture of their country.
      Your 15% tax sounds more reasonable.

      Like

  7. ragnarsbhut · April 14

    John, I am a realist. Government needs money to remain functional. However, it is also true that people in the private sector can spend money better than the government.

    Liked by 1 person

    • johnbarleycorn12 · April 14

      I agree with that. The government system is so big that much of its revenue is lost in the process before getting to the desired place, people, or project. Obama said that it was so big, it was unmanageable. He and I did not share much common ground, but we do on that opinion.

      Like

  8. ragnarsbhut · April 14

    John, you are preaching to the choir.

    Liked by 1 person

  9. ragnarsbhut · April 15

    John, you do not have to apologize for that. I actually like it when people are direct with what they have to say.

    Liked by 1 person

    • johnbarleycorn12 · April 15

      Thanks again, that is my style. Sometimes hard to be direct and tactful, a fine line.

      Like

  10. ragnarsbhut · April 15

    John, I am the kind of guy who says tax me all you want. Just give me more say-so as to what the money is being used for.

    Liked by 1 person

  11. ragnarsbhut · April 15

    John, I do not take rude or disrespectful behavior very well. However, I believe that there is a distinction to be made between intentionally displaying rude behavior and just saying things as they are, being direct with what one has to say.

    Liked by 1 person

    • johnbarleycorn12 · April 16

      I agree. One of my blogger friends complimented me on being brief and to the point. I like to condense information when possible, but not to the point of oversimplification. Sometimes a fine line.

      Like

  12. ohiocook · 11 Days Ago

    Thank you for stopping by my blog.

    Liked by 1 person

    • johnbarleycorn12 · 11 Days Ago

      I was in the business for some time and still enjoy reading about food and recipes.

      Like

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