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.
John Barleycorn 
What is a reasonable rate in your opinion?
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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.
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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.
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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.
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Between a flat tax that taxes earned income and capital gains at the same rate and a consumption tax, what would you prefer?
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I like the consumption tax the best. Which would be your preference?
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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.
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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.
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Jack Kemp is someone I know of by name.
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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.
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John, why does this not surprise me?
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Same here, they get so predictable.
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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%.
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Let me research those present rates and some comparisons before I answer. That is a good question that I had not considered.
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Sounds good.
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I like that idea for the US it holds some great middle ground. Having trouble locative data worldwide, but will continue looking.
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Sounds good. Are you familiar with F.A. Hayek or Milton Friedman?
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Yes, and fans of both. Misses institute is one of my favorite websites.
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Mine also. I look at it regularly.
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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.
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John, you said my 15% tax sounds more reasonable. As long as the poor are not being taxed, I like this idea.
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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.
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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.
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John, you are preaching to the choir.
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I’ve been known to do that, sorry. 😊
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John, please don’t apologize. I am glad that people do this.
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Open minded of you, thanks. Most see it as an affront to their intelligence.
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John, I like the fact that people speak their minds on things. Civility is appreciated, yes, however, if someone decides to be blunt, I say go for it.
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We agree on that. I prefer the civil approach.
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So do I.
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John, you do not have to apologize for that. I actually like it when people are direct with what they have to say.
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Thanks again, that is my style. Sometimes hard to be direct and tactful, a fine line.
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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.
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That would be the ideal situation.
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John, I agree with you there.
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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.
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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.
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John, that makes sense to me.
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Thank you for stopping by my blog.
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I was in the business for some time and still enjoy reading about food and recipes.
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Taxing the super rich is too simplistic a solution.
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