Pro Publica tax info leak

Administering it would be a challenge, but is a wealth tax really a terrible idea in principle?

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Comments

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.

Huh? Side job as a palm reader now?

There is a shit ton that can be done to improve the situation...the fact from the leak you can’t even recognize a few of them leads to my comment of you not being a bright one.

HHusky

Consumption/VAT tax far better than a wealth tax.

Why?
Ask @GrandpaSankey to read for you and explain 'liquidity'.

"Consumption/VAT tax far better than a wealth tax" 'cuz liquidity?

C'mon. You need to put the work in.
I already work in finance. I don't need to do any work in that field. You do the work.

Because it is @creepycoug's gentlemen's board, I won't call you a fucking idiot for taking grannies cash when she doesn't have any to take. So she's supposed to condo out her home to pay her wealth tax? Fuck off with that bullshit. She has NO liquidity, no cash, no dinero to pay tax on a perceived unrealized gain/appreciation.

Instead granny buys a new luxury little rascal scooter with her saved up social security checks, she pays more in VAT than your fat obese slob riding a shopping cart model.

Capiche? Prolly not.

You've identified one issue with a wealth tax that would need to be dealt with and explained the alleged vast superiority of a consumption tax not at all.

Cuz finance.
Make it on anything requiring a liquidity event. Why should someone be forced to liquidate their holdings before a realized gain to pay tax on something that hasn't transpired yet? Do they get a refund when their wealth goes down on taxes they previously paid?

Because smarter than you.

C'mon Madoff! How does granny pay for repairs, property taxes or anything else that arises? Maybe a wealth tax causes granny to sell her $45 million property. So fucking what? This "difficulty" is simply your failure of imagination and has more to do with hating ALL taxes than anything else.

As for your question about declines, yes, I think there have to be credits/offsets/refunds if wealth declines.

Still no argument for your consumption tax. Telling.

HHusky

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.
Huh? Side job as a palm reader now?

There is a shit ton that can be done to improve the situation...the fact from the leak you can’t even recognize a few of them leads to my comment of you not being a bright one.

I'd have to be a palm reader to get anything from your contributions thus far.

PurpleThrobber

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...

You still can. It's not that distinguished as evidence mounts.

HoustonHusky

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.
Huh? Side job as a palm reader now?

There is a shit ton that can be done to improve the situation...the fact from the leak you can’t even recognize a few of them leads to my comment of you not being a bright one.
I'd have to be a palm reader to get anything from your contributions thus far.

If you actually read my response or maybe even the article itself you might have a clue but you didn’t...just read some Tweet telling you that you should be outraged and want a wealth tax and came to regurgitate it here.

One of the things it talks about (and you’d know anyway if you had a clue) is all these charities/foundations are nothing more than tax dodges. If you had half a clue (you don’t) you’d also know on top of that (the article doesn’t talk about it) that they are nothing more than slush funds...who needs an income to pay for flights when your charitable foundation will pay for a plane for you. Solves 2 problems. The Clinton Foundation is the extreme but it’s pretty common behavior for all of them.

If you actually read the article you would also know their ability to set up trusts and such make the estate tax pretty much inconsequential...you’d have to be a moron to come up to a board like this and claim to want to raise/expand that when the folks you are targeting already have a million and one ways to get around that.

Oh wait...you did...

CFetters_Nacho_Lover

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.

Exactly this.

PurpleThrobber

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
Exactly this.

Generally small business owners who provide, like, jobs for others.

But go ahead an make them have to decide whether to ax an FTE or do the work themself to pay the wealth tax bill.

doogie

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.

Ask me how I know you were never a GOP voter like you claim?

HHusky

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?

Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

RaceBannon

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

Meltdown

PostGameOrangeSlices

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

Lmao.

Muh party switch! The dems who were pro slavery and segregation were actually....Republicans!!!!!!

HHusky

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.
Lmao.

Muh party switch! The dems who were pro slavery and segregation were actually....Republicans!!!!!!

They were Jeffersonians. Like you girls.

Doogles

H discovering his ideas don't play as well outside of the bongo circle.

Kaepsknee

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?

HHusky

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?

Tequila thinks you should stop believing your own bullshit.

MikeDamone

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?
Tequila thinks you should stop believing your own bullshit.

You don’t belong on this board. At all.

Comments

HoustonHusky

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.

HHusky

Consumption/VAT tax far better than a wealth tax.

Why?
Ask @GrandpaSankey to read for you and explain 'liquidity'.

"Consumption/VAT tax far better than a wealth tax" 'cuz liquidity?

C'mon. You need to put the work in.
I already work in finance. I don't need to do any work in that field. You do the work.

Because it is @creepycoug's gentlemen's board, I won't call you a fucking idiot for taking grannies cash when she doesn't have any to take. So she's supposed to condo out her home to pay her wealth tax? Fuck off with that bullshit. She has NO liquidity, no cash, no dinero to pay tax on a perceived unrealized gain/appreciation.

Instead granny buys a new luxury little rascal scooter with her saved up social security checks, she pays more in VAT than your fat obese slob riding a shopping cart model.

Capiche? Prolly not.

You've identified one issue with a wealth tax that would need to be dealt with and explained the alleged vast superiority of a consumption tax not at all.

Cuz finance.
Make it on anything requiring a liquidity event. Why should someone be forced to liquidate their holdings before a realized gain to pay tax on something that hasn't transpired yet? Do they get a refund when their wealth goes down on taxes they previously paid?

Because smarter than you.

HHusky

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.
Huh? Side job as a palm reader now?

There is a shit ton that can be done to improve the situation...the fact from the leak you can’t even recognize a few of them leads to my comment of you not being a bright one.

I'd have to be a palm reader to get anything from your contributions thus far.

PurpleThrobber

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...

You still can. It's not that distinguished as evidence mounts.

HoustonHusky

This isn't an intellectual thread. HTH

I like to complain about "the rich" writing our tax laws as I ask for them to write some more. You like to claim you voted for Reagan so maybe revisit starving the beast and get back to us

6 trillion dollar budget by Joe. Not enough taxes to come close to covering that nut

Good luck the rest of the way
I simply proposed a change to the tax laws. You and Houston keep complaining that only the rich are allowed to write tax laws. Under the previous administration, perhaps. But it's not a Constitutional requirement.
Only thing I poasted was 3 of the most obvious facts of the leak that you blatantly ignored because they go against your political leanings. Guess you are a mind-reader?

And you are correct...this is a distinguished board...for your interpretation of the information on any other board I would have called you a fucking moron.

HTH...
I read your "There's nothing we can do" flavored poast.

It wasn't your best work . . . one hopes.
Huh? Side job as a palm reader now?

There is a shit ton that can be done to improve the situation...the fact from the leak you can’t even recognize a few of them leads to my comment of you not being a bright one.
I'd have to be a palm reader to get anything from your contributions thus far.

CFetters_Nacho_Lover

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.

Exactly this.

PurpleThrobber

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
Exactly this.

Generally small business owners who provide, like, jobs for others.

But go ahead an make them have to decide whether to ax an FTE or do the work themself to pay the wealth tax bill.

doogie

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.

Ask me how I know you were never a GOP voter like you claim?

HHusky

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?

Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

RaceBannon

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

Meltdown

PostGameOrangeSlices

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.

Lmao.

Muh party switch! The dems who were pro slavery and segregation were actually....Republicans!!!!!!

HHusky

You don't think the rich already have a plan in place? Either most of their property becomes foreign property, or it's transferred into other entities. As long as rich people are the ones modifying the tax code, rich people will continue to benefit from the tax code. Principle has nothing to do with it. It has to do with execution, and there will never be an efficient way of executing it. The people that get screwed by these code revisions are people who are fairly wealthy but not quite wealthy enough.
All taxes can be evaded, whether successfully or not. The fact the super rich have oversize influence is just one of the many good reasons for enacting a wealth tax. And perhaps campaign finance reform as well.
Ask me how I know you were never a GOP voter like you claim?
Oh look! Another dumbshit populist thinks the Republican Party hasn't changed over the past 45 years.
Lmao.

Muh party switch! The dems who were pro slavery and segregation were actually....Republicans!!!!!!

They were Jeffersonians. Like you girls.

Doogles

H discovering his ideas don't play as well outside of the bongo circle.

Kaepsknee

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?

HHusky

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?

Tequila thinks you should stop believing your own bullshit.

MikeDamone

The only way to go after real wealth is to either tax net worth (good luck with that) or estates. Otherwise you're just beating up lower end millionaires and creating a larger wealth gap. This arbitrary 400k income level that Biden is targeting is FS
Indeed, the estate tax is a wealth tax and Biden is merely talking about income taxes, which can have minimal impact on people who don't need to receive income regularly and who have the ability to time their receipt of income.

In my opinion we need to have an estate tax, at least. But a net worth tax would be better in my opinion, if you had to choose between the two--which we don't have to do actually.

Trust and Estate Lawyer stumps for Estate taxes.

Pictures at 11.

Or. Are you really a Union lawyer despite saying you weren’t?
Tequila thinks you should stop believing your own bullshit.

You don’t belong on this board. At all.