THere are pros and cons. I do favor wealth tax but it might require ammendment of 10th ammendment; although some states have done it in the past (intangible tax) so I am guessing it is doable.

Stiffler · Sep 28, 2011 9:58 AM

**** Nas's Rebuttals ****

Nas · Sep 28, 2011 11:35 AM

Where is the incentive to earn money. If I would get to eat wthout moving my butt I would quit my job tomorrow. Tax the rich, but for the amount they make, not what they already paid taxes for.increase the tax bracket for people making more than 250,000. Impose ss tax on all the money they earn, there are ways but you don't want to kill the incentive.

anon · Sep 28, 2011 12:27 PM

Taxing for the amount they make is not wealth tax, that's income tax which already exists. The point you made, about where the incentive is and not killing the incentive to make money; is the exact point FOR wealth tax. Let me explain. If somebody works hard to make more money and you tax his fruit (income) then you reduce his incentive to make money. Wealth tax is a tax imposed upon the wealth he already owns, including estates, historical stock/dividend holdings etc. Say a rich boy, Casper, inherited his money from his dad. He might be working hard to increase the wealth or he might be sitting idly, doesn’t matter. If you tax this amassed wealth, you aren’t really reducing the incentive to work harder…not as much, anyway, as you would if you were taxing his income. There are risks to it ofcourse, though not exactly the one you mentioned. People will start hiding more wealth in offshore secret accounts. Countries which do not impose the wealth tax would attract the deposit of such wealth from these rich folks. This could have adverse effect on a Nation’s economy. So these things need to be weighed in before any tax hike of such nature is implemented. Focus should be on doing it efficiently than collecting it more. Finetune your outbox than enlarging your inbox. I support a temporary wealth tax, but its long term effect might be detrimental…unless this goes along with reduction of income tax.

Stiffler · Sep 28, 2011 12:57 PM

I think only comparision to wealth tax might be to the calling card fees. You gonna lose little bit by little bit everyday until it has zero balance. And what it has done??? Drive away all the customers who have other options from internet. It still has been around but has been

goddamn · Sep 28, 2011 4:33 PM