Comments on: How about a minimum tax on the rich?

By: hawksruleva

hawksruleva — Mon, 26 Nov 2012 20:10:25 +0000

Sounds awesome! Maybe we could call it the Alternative Minimum Tax.

By: Chubbs65

Chubbs65 — Mon, 26 Nov 2012 20:07:41 +0000

I’d also would want an inflation deduction for when the government decides to live outside their means.

By: William Eaton

William Eaton — Mon, 26 Nov 2012 20:07:30 +0000

Warren Buffett is a good example of why I sometimes think we do need a wealth tax on certain people. It is amazing how how many rich old geezers, mostly Hollywood and investor types, are so in love with higher taxes on incomes, which might not affect Buffett as much.

Or better yet a total limit on all combined deductions of $50,000.

That would prevent all those lefty rich people and academics from setting up those “non-profit” foundations (that only use their donations to limit freedom in this country).

By: Chubbs65

Chubbs65 — Mon, 26 Nov 2012 20:05:55 +0000

How about a maximum Tax amendment? The feds, state, and locals as a whole can only take up to X% of a man’s working year’s income during times of peace.

By: bitsy

bitsy — Mon, 26 Nov 2012 20:01:44 +0000

Rich liberals are trying to make it harder for anyone else to start a business or get rich themselves. Hypocrites, every single one of them.

By: Catahoula

Catahoula — Mon, 26 Nov 2012 19:57:47 +0000

Warren Buffett could care less how his newly acquired sense of noblesse oblige would affect the US economy. He knows that he is very close to the end of his life and he simply wishes to be beatified by his fellow class warriors. He wants a huge, televised funeral, standing room only, bulging with the weeping and wailing poor.

By: tom daschle concerned

tom daschle concerned — Mon, 26 Nov 2012 19:42:18 +0000

Or should the wealthy pay much less as a percentage of their income than some poor schlub who spends his whole paycheck simply trying to attain food, clothing, and shelter?

ernesto on November 26, 2012 at 2:32 PM

Here are the tax rates. At what income income does the percentage of tax liability start going down?

10% on taxable income from $0 to $8,700, plus
15% on taxable income over $8,700 to $35,350, plus
25% on taxable income over $35,350 to $85,650, plus
28% on taxable income over $85,650 to $178,650, plus
33% on taxable income over $178,650 to $388,350, plus
35% on taxable income over $388,350.

By: Resist We Much

Resist We Much — Mon, 26 Nov 2012 19:34:21 +0000

ernesto on November 26, 2012 at 2:31 PM

Actually, Warren needs to get out more often. He needs to talk to people like me. I am no figment of Grover Norquist’s imagination.

By: ernesto

ernesto — Mon, 26 Nov 2012 19:32:41 +0000

Only a minimum tax on very high incomes will prevent the stated tax rate from being eviscerated by these warriors for the wealthy.

Any objections? Or should the wealthy pay much less as a percentage of their income than some poor schlub who spends his whole paycheck simply trying to attain food, clothing, and shelter?

By: ernesto

ernesto — Mon, 26 Nov 2012 19:31:27 +0000

Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist.