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> $1 is worth much less to the rich than it is to the poor. Extending this argument: a $1 product is worth much less to the rich than it is to the poor. Based

by Femur 18y ago

> $1 is worth much less to the rich than it is to the poor. Extending this argument: a $1 product is worth much less to the rich than it is to the poor. Based on this argument, should the rich be charged more for products?

jbrun 18y ago
Luxury items (fancy cars etc.) should be taxed at a higher rate than basic items. This is already done in various countries on items such as electronics, gaz-guzzlers, bread, milk, etc. I think if we taxed items appropriately, we would not need income tax on the low and middle classes - they are the ones who can use extra cash to pay for their kids' education (high ROI for the kids), better housing (high ROI for society) and higher quality food (high ROI on $$ saved on health care costs). Rich people (the kind we want), after a certain point, are not motivated by money - they just want to win and make a difference and that can be done in a high tax society as much much as a low one.
- Femur 18y ago
  I completely agree. If Man A with $100,000 and woman B with $500,000 buy the same $50,000 sport car, they pay the same luxury tax on it. My original question posed to the parent poster was questioning if prices of goods should be based on the income/worth of the individual.
  - jbrun 18y ago
    I think that would be near impossible to enforce, and probably not worth the trouble. Look at all the families that lie about their income and net worth so their kids can get scholarships and student-aid at expensive universities. People will always try and avoid taxes, thus, taxes should be kept simple to avoid loopholes. This is why I really like consumption taxes as opposed to income tax. I think that their should be higher estate taxes, people should not be able to inherit massive fortunes. Some money is ok, but I like the saying, "You should leave enough money for your kids to do whatever they want, but not enough for them to do nothing at all" I know I changed the subject, sorry.
    - Femur 18y ago
      It's OK and I upvoted you. I think anything other than a flat tax is immoral. I think a national sales tax and elimination of income taxes is a great idea. I merely posed my original response as a thought experiment.

by Femur 18y ago

jbrun 18y ago

Luxury items (fancy cars etc.) should be taxed at a higher rate than basic items. This is already done in various countries on items such as electronics, gaz-guzzlers, bread, milk, etc. I think if we taxed items appropriately, we would not need income tax on the low and middle classes - they are the ones who can use extra cash to pay for their kids' education (high ROI for the kids), better housing (high ROI for society) and higher quality food (high ROI on $$ saved on health care costs). Rich people (the kind we want), after a certain point, are not motivated by money - they just want to win and make a difference and that can be done in a high tax society as much much as a low one.

Femur 18y ago
I completely agree. If Man A with $100,000 and woman B with $500,000 buy the same $50,000 sport car, they pay the same luxury tax on it. My original question posed to the parent poster was questioning if prices of goods should be based on the income/worth of the individual.
- jbrun 18y ago
  I think that would be near impossible to enforce, and probably not worth the trouble. Look at all the families that lie about their income and net worth so their kids can get scholarships and student-aid at expensive universities. People will always try and avoid taxes, thus, taxes should be kept simple to avoid loopholes. This is why I really like consumption taxes as opposed to income tax. I think that their should be higher estate taxes, people should not be able to inherit massive fortunes. Some money is ok, but I like the saying, "You should leave enough money for your kids to do whatever they want, but not enough for them to do nothing at all" I know I changed the subject, sorry.
  - Femur 18y ago
    It's OK and I upvoted you. I think anything other than a flat tax is immoral. I think a national sales tax and elimination of income taxes is a great idea. I merely posed my original response as a thought experiment.