General Discussion

Chemical Bill

(2,896 posts)

37. What's not to like?

Thu Aug 28, 2025, 02:49 AM

Aug 28

The ultra rich don't buy anything with most of their money. That means they will only pay taxes on a small part of their income.

Meanwhile, the poor and middle class spend all or most of our money, so we will pay taxes on all or most of our income.

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SickOfTheOnePct

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If YOU were in charge, how would you structure the taxing systems to be fair to everyone? [View all] DUU Aug 27 OP

Reimpose the tax system from the late 90's WSHazel Aug 27 #1

or reimpose the tax rates from the 1950's under Eisenhower, Jack Valentino Aug 27 #33

Glibly, no more billionaires mr715 Aug 27 #2

Progressive income tax, vat tax for public healthcare, applegrove Aug 27 #26

Tax Laws JustAnotherGen Aug 27 #3

56% on all income above $20,000 ? MichMan Aug 27 #7

240k in today's dollars carpetbagger Aug 27 #12

What i would do is set it at 150k, and anything below that is tax free Volaris Aug 27 #15

Thanks JustAnotherGen, What in specific from 1956 tax code? DUU Aug 27 #14

I think its funny so many MAGAs biocube Aug 27 #17

Both of my grandfathers JustAnotherGen Aug 27 #25

Transaction tax on certain loans Jerry2144 Aug 27 #4

Generally, Ike's tax structure is the closest to my ideal Torchlight Aug 27 #5

Remove the SS cap Freddie Aug 27 #6

A message that will confuse Repubes LR3 Aug 27 #8

First, collect all of the unpaid taxes. nt chowder66 Aug 27 #9

I don't care if it's "fair" to billionaires n/t leftstreet Aug 27 #10

Most billionaires no longer work haele Aug 27 #16

Replace personal and corporate income tax Disaffected Aug 27 #11

What's not to like? Chemical Bill Aug 28 #37

They don't usually stick it under the mattress either. Disaffected Aug 28 #48

How do you collect a progressive sales tax? MichMan Aug 29 #49

The tax charged depends not on the individual purchaser Disaffected Aug 29 #50

I can think of untaxed potential WarGamer Aug 27 #13

That's a fair way to get money and doesn't directly impact even small time investors. haele Aug 27 #19

How do you justify that on things like penny stocks? thatdemguy Aug 27 #30

I'd make exceptions... WarGamer Aug 27 #31

Not trying to be snarky, but what's fair? EdmondDantes_ Aug 27 #18

10% flat tax bif Aug 27 #20

Very regressive compared to even the BBB karynnj Aug 27 #22

Good for the well healed, horrible for the remainder. Disaffected Aug 27 #23

Yes WmChris Aug 27 #29

Flat taxes are unfair to the poor, and a boon to the rich, Bif.... Jack Valentino Aug 27 #34

That's much more painful for a single mother in a minimum wage job with two kids than Scrivener7 Aug 28 #41

The first thing would be a national discussion karynnj Aug 27 #21

The Standard Deduction was increased substantially in 2017 MichMan Aug 27 #24

That's ONE part of the 2017 Trump tax bill that I agree with--- Jack Valentino Aug 27 #35

It lowered taxes for many, if not most, who itemize as well SickOfTheOnePct Aug 28 #44

If the 2017 law had done without lowering the rates at the top, karynnj Aug 28 #46

Masters of war pay the most. GreenWave Aug 27 #27

I have a few things to say that won't don't in the title bar. thatdemguy Aug 27 #28

This message was self-deleted by its author DUU Aug 28 #47

And remove SS cap. Sneederbunk Aug 27 #32

I have not thought long and hard about this question but BlueSpot Aug 27 #36

No state, local, property or sales taxes... Chemical Bill Aug 28 #38

Graduated. No tax on poorest 10% and certainly 95% rate on that second billion an oligarch makes Scrivener7 Aug 28 #39

More of a flat tax Johnny2X2X Aug 28 #40

So that's a graduated tax. And I think that's the fairest answer. Scrivener7 Aug 28 #42

Yeah Johnny2X2X Aug 28 #43

I see your point, but it is a graduated rather than a flat tax. Scrivener7 Aug 28 #45