Home Forums Hunting & Shooting Hunter's Campfire How about a wealth

How about we just tax everyone the same percentage then it will be fair. Same for everybody. If people don't make enough. Find better jobs or learn a skill that is worth more. Punishing the successful and people who work harder,innovate and risk more is plain theft.

anyone making over 70 K a year

Well it depends. You ever read how income tax was going to force the wealthy to pay their fair share? Middle class folks all over the U.S. were clamoring for an income tax. Guess who learned how to evade it and who had to pay it? A wealth tax would soon be on every dollar you had saved or invested and every acre you own.

Given that the top 100 wealthiest people in the U.S. almost all are huge donors to the democratic party I'd say it's fairly certain a wealth tax won't be implemented unless it contains some massive loopholes for these individuals.

It should be evident to anyone watching nowadays that "tax the rich" really means tax the middle class and upper middle class. You often hear people wondering why the rich support democrats, it's because the truly rich like Bezos, Gates, Buffet, etc. get richer from all the perks and tax laws the dems write for them. If you're a plastic surgeon making $1 million a year then you're going to get your ass handed to you under the dems, all the little socialists cheer that on because they think that doctor is rich. That's not rich, Bezos is rich and he's sitting there laughing while he calls Chuck Schumer with his next request for the upcoming Senate session.

tax? I am cause it should limit future increases in taxes for the middle class. would guarantee my monthly Welfare disability check.

Well it depends. You ever read how income tax was going to force the wealthy to pay their fair share? Middle class folks all over the U.S. were clamoring for an income tax. Guess who learned how to evade it and who had to pay it? A wealth tax would soon be on every dollar you had saved or invested and every acre you own.

Per the IRS, in 2017 the top 1% paid more than the bottom 90%. Doesn't seem very fair to me.

You think they shouldn’t? Income tax should be illegal imho, but even if they instituted it at the most equitable model as a flat percentage, the top 1% would on paper pay a higher percentage of the income taxes collected.

Your example of the $1M earner not being wealthy is correct.
So far the talk of a wealth tax has been on those with wealth over $50,000,000 paying an annual wealth tax of 2 cents on every dollar over that $50M. Those bove the $50M mark is roughly 143,000 people or 00.1% of total taxpayers.

The issue of a wealth tax gains support when you consider tax policy in the US is not just federal income tax but covers all tax starting with the city, the county, the state and federal. Also tax policy is used to create and maintain a caste system. Its easy to see on the city and county level with just a property tax.
Joe owns a $500k home with $1m liquid assets so his net wealth is $1,500,000 and pays an annual tax on his $500k home which is 33% of his wealth.
The surgeon owns a $2m home with $5m liquid assets, net wealth of $7,000,000, pays annual tax on the $2m home which is 29% of his wealth.
The 00.1% wealthy guy owns 2 or 3 homes worth $15m and $85m liquid assets so has a net wealth of $100m, pays an annual tax on the $15m homes which is 15% of his wealth.

Those wealthy 143,000 known as the 00.1%ers and especially the billionaires in that group always want to include all the working professionals. Its easier to hide among 1% than 00.1%

How does a person that makes $100,000 owe the government more than a person that makes $50,000?

Does the higher paid person require more government services?
Do they cost more to maintain?
Do their ballots cost more to print?