Tax Cuts Extended to All Americans

[SunsetSail]

Sunsetsail, you can find intelligence and reason in other people's views even where there is disagreement. You just have to first realize there are other intelligent people in the world besides yourself, and they might even know things you don't.

You're right and my last post was posted without sufficient thought as to wording. I also shouldn't have quoted your post specifically as it was more of a general response to the thread. I only intended to disagree strongly with the viewpoint and not make personal insults.

I still disagree with you and those sharing your view but will do so more with more respect prospectively.

 

[SunsetSail]

So, you must think I am stupid and unreasonable? Or just a former ward of the state?

I know I benefited from what you call wealth redistribution. I got into college with grants and loans. I had a work study job. I got the advantage of a minimum wage increase in my summer job during college. My father finally got social security disability so I didn't have to worry about supporting him and could continue with school. No wonder I favor wealth distribution, it helped me leave poverty and become very successful.

See my above post about my word choice so please don't take offense.

The topic of the thread was the legislation extending the current tax rates and extending unemployment benefits. I don't recall any of the items you described in your personal experiences as being part of this legislation and didn't intend those to be included as wealth redistribution (with the possible exception of the grants - I paid my entire way through school with the exception of limited private merit based grants). I do believe in the benefits of a limited safety net.

As a side note, it stands to reason that these programs will help some and provide heartwarming success stories, but I think disagree with their net benefit on a macro level.

 

[youbet]

We need money for public purposes, rich people have got money to spare, so let's take it. That's my rationale for progressive taxes. It's like Willie Sutton's reason for robbing banks.

Well said.

It doesn't seem like anyone on this thread is against progressive taxation. And our current overall tax system in the USA is definitely progressive. The real issue, however, is how progressive should the system be? There's a vast gap between a totally flat tax system and total confiscation of income beyond "x" amount.

What I liked best about your statement was that it referred to rich people and not high income people. I agree. What we really need in today's new world are taxes on wealth in addition to income so those butthole FIRE folks can finally pay their fair share!!

No earned income? No problem! Just send us 10% of your FIRE portfolio every April 15th! Or better, make it progressive! FIRE portfolio of $500k = 10% annual tax. FIRE portfolio of $1M = 20% annual tax. And so on and so forth....... Sweet! We'll show those LBYM, saving, holier than thou FIRE bastards!

 

[Gumby]

Is not! Is too! Yes! No! Up! Down! Left! Right! Is not! Is too! . . . .


Now that we've gotten the next several dozen posts out of the way, it's time to call a halt to a thread that has been circling the drain for days.

YouTube - Porky Pig Cartoon Ending "That's All Folks!"