Why the Rich Can and Should Pay More in Taxes - Richard D. Wolff
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- čas přidán 8. 12. 2011
- Why The Rich - Individuals and Corporations - Can and Should Pay More in Taxes
PUBLISHED ON OCTOBER 16, 2011
The US government relies chiefly on income taxes levied on businesses and individuals. Over last 40-50 years, the burden of federal income taxes has shifted (1) from businesses to individuals, and (2) from the highest income earners to the middle and lower income earners. The rich have waged a successful class war through controlling the politicians who write the tax laws. Current federal deficits could be drastically reduced by simply returning to the tax rates on business and the rich 40 years ago.
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Richard Wolff is absolutely correct.
Thx for the help doing a paper on this
Here's a stat I'd never heard: That the income tax was 91% ONLY on past the threshold of $100,000. Is that correct? Big difference between taxing 91% of someones income and 91% past that marker.
VAT vs: Slavery
Just check you tube on real estate millionaires, of which there are several who brag they are worth low to multi millions and also pay no taxes. They always make sure their tenants get regular rent raises though (because that's good business). The very rich don't seem to anxious to give back to their communities either, so vast fortunes are passed down in family trusts without any taxes. Our tax code is written for the very rich. There is no doubt it has stimulated our economy, but I wonder about the long term effects of rent increases on our middle classes and lower classes.
good video, the claim that the rich should be taxed more only makes moral sense as they are the ones who use public utilities the most.
One highlight missed was our move from manufacturing to commerce and finance
@DaHonestAbe Do you remember any sources?
We need to have the RIGHT kind of tax - a tax on Land. All other taxes, in the modern age, can be avoided. Corporations can set up shop in other countries & are. Rich people can store their "winnings" (it's not accurate to call the results of their rent-seeking "earnings") offshore & are. Land, however, cannot be moved, can be accurately accessed in the comfort of the homeland (sometimes on nifty new assessment tools in the comfort of the assessor's office), and, according to economists like Michael Hudson, Mason Gaffney, Nic Tideman, etc. is worth over 1/3 of GDP - that ought to be enough to run an efficient government (yes, we would have to forgo some wars, but we could pay people in other countries a fair price for the products of THEIR land, instead, which would be a fraction of what we spend on the, more aptly named, "war department" now).
Wolff is right about the 91%, but no one ever actually paid that rate because of the deductions that were available at the time.
The problem of the current "system of things" is that costs keep rising, often mandated by uncontrollable factors.
Interesting...
After WWII, we were able to get away with high marginal tax rates because most of the European countries were badly destroyed by the war. We were the only industrial country standing and we had a monopoly in production.
I can't understand why this is and still continues to be a question. it's very simple and logical. if you take 30 dollars from a man with a yearly income of 100 dollars your taking food from him and his families mouth. but if you take 100 dollars or even 500 dollars from a rich family they won't miss it and may not even know its gone. that's a really simple concept!
The associates at Wal Mart were quiet this morning. I wonder if they heard the news about Gravity's CEO and how generous he was to his employees.
It 's a great idea for paying taxes upon the income. It 's good 😀🙏🏼for the poor and society .
@shifragri Between 25 and 35 percent if I remember correctly.
Rich people already pay more. Do not punish success. It is the corporations who often pay less than 5% of their revenue annually. This is a corpocracy.
And even that is too much.
agree to more taxes to rich people and companies but not the rates :)