Frayed Ends: Business, Economics, and Tax Policy 3.0

[joecct]

Also, not a flat tax.

Wot?! It's 15% of the excess over $45,000. That's flat. The effective rate is what changes and approaches 15% when you get into ARod income levels.

[dxmnkd316]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Will someone smarter than me explain this better?

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Will someone smarter than me explain this better?

One side is trying to say that George Bush was an idiot. One side is trying to say that socialism doesn't work when you run out of other people's money.

Clear it up enough?

[St. Clown]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I have no problem with a progressive flat tax.

I think we're re-designing the English language here, folks. I've never been involved in such a feat before. This is exciting!

[FadeToBlack&Gold]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I think we're re-designing the English language here, folks. I've never been involved in such a feat before. This is exciting!

Yeah, "progressive flat tax" was a pretty great bit of doublespeak.

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I think we're re-designing the English language here, folks. I've never been involved in such a feat before. This is exciting!

It's just another example of why nothing ever gets done.

[FreshFish]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I have no problem with a progressive flat tax.

Most advocates of a "flat tax" actually envision it with two, sometimes three, tiers, so that actually makes sense. The "flat" refers as much to eliminating all exemptions deductions etc. as much as having very few bands and rates.

Oh, and money, cap gains, whatever, is equal to labor. Period.

That becomes problematic in implementation. Do you mean "all" capital gains? or merely "realized" capital gains? Are you advocating for a wealth tax here? Capital gains are a change in wealth, they are not "income" in the general intuitive sense of the word which means payment received in exchange for work performed.

Don't forget, for stocks, shareholders have already been taxed once at the corporate level. The lower capital gains tax rate recognizes that the shareholders are already receiving after-tax profits in the share price, or in dividends.

If you are consistent, do you eliminate the corporate income tax entirely and tax all corporate profits to shareholders? That would make sense in your system.

[FreshFish]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Warren Buffet says that increasing the minimum wage is not the best way to help the working poor. He proposes what to him seems to be a better alternative.

[FreshFish]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Means vs ends debate again?

General question: what matters more, having a policy that actually works, or continuing to advocate for a policy that on the surface sounds appealing yet has demonstrably failed to work.


We see this with well-intentioned progressives all the time. Let's try idea x. It doesn't work. Oh, we have to do more of it. it still doesn't work. We have to try harder. it still doesn't work.

how long until it dawns on them that maybe they might need to try something different???



Sometimes I am reminded of medieval physicians. They genuinely, truly thought they were helping their patients get better by using leeches to "bleed out" the "poisonous humors" that were infecting them.



Too many conversations with progressives go like this: I agree with you that your intentions are worthy. I'm not sure that your methods will bring about your desired goals.

"How dare you question my sincerity!"

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I think we're re-designing the English language here, folks. I've never been involved in such a feat before. This is exciting!

That's been going on for years. Make words "un-PC" in order to dumb down the language.

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Warren Buffet says that increasing the minimum wage is not the best way to help the working poor. He proposes what to him seems to be a better alternative.

Just in case you happen to be reading this on a whim, the WSJ articles you post are behind a pay wall.

[joecct]

Will someone smarter than me explain this better?

I may not be smarter, but here goes.

Example 1
George makes $60,000
Jane, his wife, makes $40,000.

George pays (60-45) × .15 or $2,250. His maginal rate is 3.75%
Jane pays (40 - 45) × .15 or $0.00. Her marginal rate is 0.

Example 2
Ricky makes $345,000
His wife, Lucy, makes $545,000

Ricky pays (345 - 45) × .15 = $45,000 or a marginal rate of 13.04%.
Lucy pays (545 - 45) × .15 = $75,000 or a marginal rate of 13.76%.

Neither family needs H & R Block or Beatum & Cheatum tax attornies.

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Yep, and if you want more progressive take the same scheme and put another tier in there over 250,000 and increase the exemption for one of the parents for each child.

The Accounting Lobby will never let it happen.

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I may not be smarter, but here goes.

Example 1
George makes $60,000
Jane, his wife, makes $40,000.

George pays (60-45) × .15 or $2,250. His maginal rate is 3.75%
Jane pays (40 - 45) × .15 or $0.00. Her marginal rate is 0.

Example 2
Ricky makes $345,000
His wife, Lucy, makes $545,000

Ricky pays (345 - 45) × .15 = $45,000 or a marginal rate of 13.04%.
Lucy pays (545 - 45) × .15 = $75,000 or a marginal rate of 13.76%.

Neither family needs H & R Block or Beatum & Cheatum tax attornies.

o but ur causing unemployment!!!!1!! job hater

[trixR4kids]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Means vs ends debate again?

General question: what matters more, having a policy that actually works, or continuing to advocate for a policy that on the surface sounds appealing yet has demonstrably failed to work.

Seems to work in Scandinavia...

Let's try idea x. It doesn't work. Oh, we have to do more of it. it still doesn't work. We have to try harder. it still doesn't work.

See supply side economics.