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Thread: Taxation: Tax Income or Tax Accumulated Wealth?

  1. #1

    Taxation: Tax Income or Tax Accumulated Wealth?

    Yes, this is yet another idea I heard on left-Wing Radio (I'm loving it! It's like being in Anti-World, where everything is 100% reversed!).

    Their idea, their rather strongly held idea actually, is that taxation on income is wrong, taxation should be based on accumulated wealth (i.e. your total net worth). They claim this would better represent what each of us should be paying as our "fair share".

    So instead of being taxed 25% of your 200K a year, you'd be taxed 15% on your total bank account balance, home value, investments, etc.

    This is Federal taxation, of course, local/state could still tax you as they like.

    Thoughts on this liberal idea?

  2. #2
    Jets Insider VIP
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    Do not want.


    btw - why is it that the people who are always screaming for more taxes always pay the least, and whose charitable donations are always the smallest?

    I read an article a few weeks ago that Barbara Streisand (or her rep) stopped by the pile at Ground Zero a few days after 9/11, asking rescue workers if they needed anything. Someone suggested she donate money to victim's kids. A few days later they got a shipment of hats from her, with "B"s stitched on the front. :erm:

  3. #3
    [QUOTE=Warfish;4155322]Yes, this is yet another idea I heard on left-Wing Radio (I'm loving it! It's like being in Anti-World, where everything is 100% reversed!).

    Their idea, their rather strongly held idea actually, is that taxation on income is wrong, taxation should be based on accumulated wealth (i.e. your total net worth). They claim this would better represent what each of us should be paying as our "fair share".

    So instead of being taxed 25% of your 200K a year, you'd be taxed 15% on your total bank account balance, home value, investments, etc.

    This is Federal taxation, of course, local/state could still tax you as they like.

    Thoughts on this liberal idea?[/QUOTE]

    Libs LOL! So wacky.

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