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Forum - Progressive Tax System
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| mikejohnson | Posted: Jun 28, 2011 - 19:14 |
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 Level: 1 CS Original | Could a Progressive Tax System make the Rich/Wealthy Business Owners who own and run the means of production could higher taxes on them make the Rich Business Owners Poor or cause them to run out of money why or why not ? The reason Im asking this question is because during World War Two and after the War the Tax Rate on the Rich/Wealthy was over 90% than it became 70% ? What Im really trying to ask is could a Progressive Income Tax make all Incomes equal ? Karl Marx and Frederick Engels 1848 II -- PROLETARIANS AND COMMUNISTS 2. A heavy progressive or graduated income tax. | |||||
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| CyborgJesus | Posted: Jun 29, 2011 - 00:15 |
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 Level: 6 CS Original | No, because you're not paying the same percentage on all of your income. If I'm taxed at 35% for incomes between $10,000-$150,000 and a brutal 90% for >$150,000, I'm not really taxed at 90% if I'm earning $200,000. For the tax progression to be fair, I'm still getting my tax free amount of $10,000 (we're pretty generous here), then I'm paying 35% of the $140,000 I make before reaching the threshold, so I get to keep $91,000 of that. Everything above $150,000 is taxed at 90%, so I only keep $5,000 of the $50,000 that lie between $150,000 and $200,000. If you combine all of that, I'm getting to keep $106,000 of $200,000, which is an actual tax rate of 47%. If you're making $500,000, your effective tax rate in my fictional system is 72,8%. Keep in mind that no matter how rich you are, you are banking a decent upper middleclass income before the tax hammer hits you at 90%. And if I fully supported the nation I was living in, including its reason to tax its wealthy citizens at 90%, I'd probably be okay with that. | |||||
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| The Real Roxette | Posted: Jun 29, 2011 - 04:57 |
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 There ARE more sluts in public schools. Shut up and let me explain. Level: 8 CS Original | Progressive tax doesn't create communism or socialism, that's just misquoting the purpose of the statement in the Communist Manifesto. The point is an attempt to try to push down the ultra-rich and large property owners, who controlled vast amounts of wealth, more so than they do these days (though still there is a small minority which controls most wealth). You have the put the Communist Manifesto in the context of when it was written, when no one owned houses, no one owned factories, there were no unions, there were no 401Ks, there was no job benefits, there was no minimum wage, there was no maximum work week, there were no vacations, no sick days, nothing. To even suggest the progressive tax is communist because it's mentioned in the Communist Manifesto is no different than suggesting that because the manifesto mentions factories that all factories are communist. It's an idiotic comparison made by far-right nuts that call themselves "conservative" in the United States. | |||||
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