The Liberal Gun Club Forum

This is a great short lesson about our country's history with income tax rates.

http://michael-hudson.com/2011/01/why-a ... ncome-tax/

We've had some discussion of tax rates on other threads. My view is, tax the super rich out of frickin existence, and we'll all be the better for it. This youtube tends to support that view.

Interesting vid. I liked that, and I agree with him, though I'm no economist.

Confirms a lot of what I've been saying for years. Hope y'all with stocks were paying attention. So now that we establish that unearned income is wrong, what's the solution? Just raise the income tax back to 90% on everyone who makes $120,000 a year?

a 90% tax income rate would be a moronic idea unless done in a very specific way. I wrote an article a while back that cuts all exemptions and just goes with a straight variable tax income rate that various continuously all the way up to 250 thousand and cuts off at 50% higher than that or without a cut off and you get a situation where someone who earns more, takes home less. setting a maximum wage. which is a tax code that will never be voted on, reguardless of how needed it is.

gendoikari87 wrote:a 90% tax income rate would be a moronic idea unless done in a very specific way.

I'm assuming you didn't watch the video.

ABNinfantryman wrote:

gendoikari87 wrote:a 90% tax income rate would be a moronic idea unless done in a very specific way.

I'm assuming you didn't watch the video.

I don't need to watch the vid to know that we need a 90% top marginal rate in place for about 20 years for a solid foundation to be rebuilt under our society. Takes time for accumulated wealth to make it's way back into circulation.

JayFromPA wrote:I don't need to watch the vid to know that....snip

Didn't say you did.

I agree with Dr. Hudson. We should give tax breaks to people that actually work to produce something or work for a wage and tax unearned income (stocks, bonds, capital gains, broker income, commisions) at 99%. I would also require corporate management bonuses and retirement packages be approved by 75% of the shareholders not weighted by number of shares owned.

I have a republican co worker that believes that the leaches on society are smarter than the rest of us and deserve their excessive income. A typical republican. What I don't understand is how a good Christian can justify such a belief.

vvrider wrote:I agree with Dr. Hudson. We should give tax breaks to people that actually work to produce something or work for a wage and tax unearned income (stocks, bonds, capital gains, broker income, commisions) at 99%. I would also require corporate management bonuses and retirement packages be approved by 75% of the shareholders not weighted by number of shares owned.

I have a republican co worker that believes that the leaches on society are smarter than the rest of us and deserve their excessive income. A typical republican. What I don't understand is how a good Christian can justify such a belief.

The path to taxing production and not capital winds through the Land Of Popular Nationwide Uprising, right down the center of the Valley Of Raging Pitchforks And Torches. And that's because we aren't smart enough to take the bypass road that instead travels through the Rest Stop Of Article Five Constitutional Convention.

As far as how leeching money from the rest of us jibes with christianity... it's just like money equalling speech except the belief is that money equals godly blessings. The burning bush is built upon a foundation of financial assets.

90% is too little. Maximum wage! Please, let me point you Huey Long's plan:

http://hueylong.com/programs/share-our-wealth.php

And adapted to modern time by me: http://www.dailykos.com/story/2011/03/0 ... log_614107

Yeah, I agree with the plan, but how to implement it is the tricky part. Back in the day the American ruling class was nationalistic and believed it was their duty to make the country strong to outcompete the foreign competition. Now their idea of patriotism is to send working class kids off to kill and die in some country they want while their kids go to Harvard. Their idea of good economic policy is to enrich themselves, no matter what the cost is to the nation.
They will never give that up. Their stooges in Congress will never vote it through.
What a great system- for them. Especially when they have a willing population of brainwashed serfs to foot the bill for their massive fuck ups ( Wall Street thanks you, chumps ).
I think a revolutionary situation is the only answer now. I hope against hope that it will be relatively peaceful, like the one in Tunisia.

$250,000.00 - $999,999.99 = 35%
$1 million - $40 million = 40%
10% for each $10 million up to $90 million = 90%

Earned or unearned. Quick and easy.

Adding a couple things from my previous links:

the share our wealth program seemed to go a bit too far too soon to me. That level of spreading the wealth doesn't work unless A) everyone is forced to work or B) we have a mostly roboticized production. And that's right on down to sales clerks.

however for B, the share our wealth program becomes a near requirement. Everyone is guaranteed an income reguardless if they work or not because lets face it, in that situation we'd be lucky to have a 60% employment. After that we set the wage everyone earns to a single number and shortly after that we can possibly abolish the monetary system all together.

also your tax brackets are messed up. we'd be going into debt big time. Unfortunately i've done the math, and we're fucked. 60% on every man woman and child and corporation would barely fund the government.

A very interesting perspective on this jumped out at me from an email I just got from Truthout.org:

We're borrowing that money from rich Americans and corporations - instead of taxing them like we used to. As of January, over 42 percent of our debt was owned by people and institutions in the United States!

Here is the link to their chart:

http://3.bp.blogspot.com/_5aAsxFJOeMw/T ... t-2010.png

So what we have is debt servitude of the public sector (government) to the private sector. It's like the old company store on a grand scale.

Tax the bastards of out existence.