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I doubt these are the stable union jobs with decent benefits from 50 years ago. If we really want to reverse Reaganomics we need to increase taxes on corporate
by wefarrell 3y ago
I doubt these are the stable union jobs with decent benefits from 50 years ago. If we really want to reverse Reaganomics we need to increase taxes on corporate profits, capital gains, and inheritance.
- User23 3y agoHow do you see that working? I mean what’s the operational mechanism that drives union jobs from wealth taxes?
- wefarrell 3y agoI never implied a causal relationship, they are two sides of the same coin.
- missedthecue 3y agoIf we want to... we need to... that's what you said and that reads plainly to me like you are implying a causal relationship.
- eppp 3y agoIf you increased tax receipts you could justify more government building and partnerships or grants. Make those grants pay union scale or require union contracts.
- User23 3y agoUS federal government spending obviously isn’t constrained by tax receipts. You’d think that would be clear in this day and age of consistent trillion dollar annual deficits. Thus spending programs should be judged based on outcomes and not nominal cost. I’m all for a strong middle class. However, I don’t see how an inheritance tax that forces children to sell their parents farm or business to pay estate taxes is supposed to accomplish that though. If I wanted a large permanent asset-free working class I’d definitely aggressively tax intergenerational wealth accumulation, resting assured that the upper classes would easily dodge it with trusts, corporations, expatriation, or some other tax avoidance strategy. That sounds like an excellent strategy to crush the remaining middle class.
- adgjlsfhk1 3y agoinheritance tax kicks in around 10 million dollars. it doesn't touch the middle class. it touches billionaires who die and leave a hundred million to everyone in their family.
- User23 3y agoBillionaires have trusts and foundations and lawyer knows what else. It doesn't touch them at all. Also a 700 acre farm, which is an at most medium size family farm, could easily have a nominal value north of 10 mil even though there's no way it's returning 1 million a year net. Same for a modestly profitable small business.
- eppp 3y agoShouldn't small businesses and farmers plan ahead and create a plan for divesting before they die or purchase life insurance with a payout large enough to cover the taxes at death? It seems like these problems are easily dealt with.
- eppp 3y agoWe are constrained by our politics which mean in practical terms that whichever side is out of power pretends to care about deficits. "Free" chunks of money are up for grabs to spend with impunity.