I say "Tax Wealth and not income"

change it to $10,000,000 and $2,000,000,000

yea!

Once again you are stealing from one group to support another. This is socialism regardless of what you call it. Why not revise the tax code to eliminate ALL tax deducation for both individuals and corporations, then tax everyone the same amount like 10% of gross revenue. This would apply to all individuals and all organizations to include the Church and political action committies.

If everyone has the same rights then everyone should pay their equal share of the tax necessary to run the country. By eliminating all deducations and loopholes, corporations will be paying 10% of their total revenue in taxes instead of nothing on $5 billion in profits like GE. The tax deducations and loopholes are what allows the wealthy to pay no tax. Pay tax on all income regardless of your spending on other items like corporations do when paying company officers thousands of shares in bonuses which the company takes as a writeoff.

I say this tounge and cheeck because all the rich claim they pay so little income tax and that we all need to pay more. The truth be told, thr rich have little "income" but a whole lot of unrealized capital gains. So they are rich but we pay the taxes.

More to the point, my plan would incentivize corporations to put their money to work in capital expeditures and not side line the cash. Hording money does nothing to fuel our economy.

Lastly, if I see Buffet say how little he pays in income tax one more time, I'm going to puke. The stupid media never ever asks him about his wealth being taxed. If he wants to pay his fair share, go after his holdings.

Tax 75% of anyone making 1 million dollars or more a year.

This sounds like a great plan.

Work is of the utmost moral value in America. Everyone should be working, not just sitting on their "assets." This would discourage the lazy asset-sitters.

we need to tax people like you for being to dumb to have $1,000,000.

It doesn't require any special effort, intelligence or abilities whatsoever to inherit a fortune.

We have far too many multi-generational ass-sitters in America, at BOTH ends of the spectrum!

I say abolish all income and property tax and go to a consumption tax.

That is the fairest tax of all.

The bottom 80% HAVE TO SPEND to survive and they keep the economy running the more disposable income they have.

Rush Limbaugh and Sean Hannity and Mitt Robbedme and Billo don't need to spend the vast majority of their income. They can just stash it in Swiss bank accounts and the Cayman Islands and pass it on to their trust-fund babies and keep the plutocracy going. This is what you wingnuts don't get.

Only if it included the consumption of financial products and services and not just durable and non-durable goods.

Technically "income" is defined as corporate profits and normal people don't make any "income". Also some argue that the 16th amendment was not ratified, but I would like to hear from those who are able to successfully ward of the boots from stomping on your face when you refuse to pay taxes

[link to en.wikipedia.org]
[link to www.whatistaxed.com]

Ooh.. I like that "technicality!"

That's a loophole and a misnomer we ought to devise a way to exploit!

No amount of taxes will ever fill the void in the federal deficit. If you raise taxes the government will spend it. People need to stop looking to the government to solve their problems. Depend on yourselves and your neighbors to thrive. Do away with dependency and the government will naturally get smaller. The power of the government is derived from the dependency on it. Grab your life by the horns and hang on. Its a rough ride.

Then perhaps we should be looking to the Federal Reserve (a private entity) to reduce our deficit by reducing or eliminating the interest so we stand a chance in hell of paying it off.

Don't get me wrong. I think that the fed is an abomination and goes against every constitutional right americans have. However, take some responsibility in your situation and work with your neighbors and local clubs to do away with the need of a government which relies on the fed. Change begins at the smallest of levels. A tornado begins with a breeze. Do not let the powers that be, be the powers that HAVE to be.

So what happens the next year after paying a 15% 'wealth' tax on a million? Couldn't tax them at that rate again.. they would no longer be in that bracket.

Punish success, reward failure. Yup, no incentive to make money anymore.

For GOD SAKE what the hell is wrong with everyone

no INCOME TAX

You need USERS FEES and SALES TAX

THAT IS FAIR!!

Wrong.. no incentive to HOARD money.

Let's start by confiscating some of that Hollywood Illuminati money. Then lets go after all these rap artist who rap about beating their bitches and take away their money. We will call it a morality tax.

A "sin tax" get it?

People should just go to the house..

By the looks of you avatar you look like an Obama bitter old bitch supporter.

With the current situation, people will be even more driven to hoard cash--not that it will be worth anything.

yes, and if you did this, it would drive everyone into hard assets, so they did not have liquid wealth to be taxed. because of buying up all they could, the prices of real estate and other hard assets would skyrocket, and no normal person would be able to buy such things anymore.

Yeah I'm old.. and that has WHAT to do with the discussion at hand?

Take a gander at Ayn Rand.

[link to www.slate.com]

I was going more for bitter.

Bitter Green.. that's my name! Although I didn't do a wall street sit-in. We wouldn't be having these discussions if there weren't a great deal of unrest in America.

You need to read a book about William Bradford and you will understand why wealth redistribution does not work.