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Taxing the money that moves - as it is earned - will only produce so much revenue. The rich need to be taxed, not beccause it will allow lots of lovely spending
by aj700 15y ago
Taxing the money that moves - as it is earned - will only produce so much revenue. The rich need to be taxed, not beccause it will allow lots of lovely spending, because the gov will inevitably do a bad job of spending it. Though you could put it towards debt reduction first.
You have to tax the money that doesn't move. The millions of unneeded unspent $ that the rich are sitting on, with a wealth tax. You may not even make the poor richer, but you will make the rich poorer. Good.
- dwolfson20 15y agoIt's a nice intention, but how do you devise that mechanism? If I keep $10,000 in my savings account for 30 years, are you going to tax it every year?
- felipemnoa 15y agoThe government does that already by printing more money. The more money printed the less valuable your $10K. Better to keep money on assets that do not devalue with inflation.
- wpietri 15y agoYes, that's how it works: http://en.wikipedia.org/wiki/Wealth_tax http://en.wikipedia.org/wiki/Wealth_tax
- mmorett 15y ago> You may not even make the poor richer, but you will make the rich poorer. Good. "Unneeded, unspent money" is none of your business. It's not your money.
- hans00 15y agoRight. It's all of our money, because we all share the same society. Sorry, "it's mine, all mine" doesn't cut it outside an Ayn Rand fantasy novel or a Ron Paul forum.
- mmorett 15y agoNo. Let me repeat that. It's not your money. You are not entitled to someone else's money by virtue of their mere presence in the country. Want money? Work for it. Save it. Earn it.
- JabavuAdams 15y agoWant a nice society? Pay your fair share for it. You've focused on one half of the equation to come up with obvious but irrelevant conclusions. For instance, how does inheritance fit into your model?
- cperciva 15y agoThat might have worked in the 1910s when the vast majority of people worked up to the day that they died. In the 2010s we have a concept of "retirement"; and in order for people to practice it, they need to save money while they're working.