We should get rid of all taxes and replace it with a wealth tax on billionaires
Net worth tax
Jaxon Johnson
Jose Thomas
Why? They all avoid taxes anyway.
Mason Cook
They would probably leave the country all together.
Live in Singapore, with a Swiss bank account and have all their factories in India and China.
Joshua Stewart
>They would probably leave the country all together.
they can leave but they can't take it with them
Nathan Ross
>"You have more than me" tax
Get fucked commie thief.
Mason Edwards
A wealth tax based on net worth is pretty impossible to avoid. Particularly if there are no deductions or loopholes. Its the complexity of the tax code that allows them to avoid paying.
A wealth tax also has two major advantages over an income tax.
1: It encourages investment since all wealth is taxed regardless of if it is new income for the year and the only way to maintain your net worth is to keep earning profit through investment.
2: It increases the ability for people to climb the socio economic ladder since it taxes total wealth rather than just net income meaning that old money is taxed just the same as new money which is advantageous to people ascending the ladder not the people on top.
Samuel Cooper
All taxation is theft.
If the state is legitimate in placing property tax on the home of a working class family why is it not legitimate in placing property tax on the stockpiled wealth of a billionaire?
Eli Allen
They can though. Sell shit and get gone.
Even if they didn't and the government got all their leftovers, that's not sustainable. All the money they get from that will eventually run out and you won't have anywhere to get money from. This is what always happens.
The rich are gone, the money and jobs they contribute to society are gone, the lower classes can''t find jobs, the government has no one to tax anymore, so no more handouts, so they start killing people and making propaganda to cover it up.
William Perry
But what about the billionaires that will 'move' to another country to avoid that?
Easton Moore
You are actually retarded. The vast majority of wealth is invested simply because people already want to make more money. A wealth tax isn't going to change the reward from investing money rather than consuming it.
All a wealth tax will do is take money away that would've otherwise been invested into productive activity, this means good shortages and higher prices as well as unemployment.
Caleb Long
Yeah, except they aren't going to sit around and let you do that. They're billionaires, they can live wherever they want and store their money anywhere they want. They'll leave the country immediately.
Benjamin Powell
Taxation is theft, but
We should only have a goods tax, anything you buy should have a flat tax and that's it. Then even drug money gets taxed. If you buy more you pay more taxes, if you live like a bum guess what no taxes. It solves class warfare
Juan Lee
>They can though. Sell shit and get gone.
I've considered this. You place a tax on moving wealth out of the country. A quite substantial one similar to the estate tax, say 50% (which on an unrelated note, I think should be eliminated) that ultimately renders keeping money in the system more profitable than taking it out.
>A wealth tax isn't going to change the reward from investing money rather than consuming it.
If you're paying 40% tax on income and no tax on accumulated wealth then making more income is less profitable.
If you're paying 0% tax on income and a 5% tax on accumulated wealth than making more income is more profitable and sitting on your wealth entails slowly losing it.
You're taxing their net worth. It doesn't matter where the money is and if they leave then you inform the country that they've moved to that they owe you a substantial amount of money.
Australia may not be able to throw its weight around like that but the United States can.
Christian Lopez
Adam Campbell
Christopher Rivera
that's why you impose capital control
Brayden Clark
Benjamin Parker
Jack Scott
Deception is not free choice. Your argument is fundamentally flawed.
Carter Diaz
So you love the government and you're using an anarchist flag?
Christopher Gutierrez
>moves to Monaco
>proceeds to invest his money else where
Owen Peterson
Already covered.
Andrew Wright
>we need a simpler tax system
>proceeds to create a complex one
Brandon Hill
How bout instead of that shit, we just have a small tax on money used for consumption. Money invested into stocks/bonds/companies/real estate isn't taxed but only what is drawn into a bank account for personal stuff like personal houses, cars, yachts, planes, servants, luxury items, food, clothes, etc.
Encourages investment and only taxes consumption.
Dylan Wright
Dude our tax code is like 3,000 pages.
Mines is like 3 paragraphs.
Joseph Hill
OP, look up the French Émigrés and see what happens when a government tries to do the shit you're trying.
Gavin Smith
You cannot put too much pressure on the rich or they will just up and leave. In the inverse, you can't put too much pressure on the poor or they will tear your system down because they're stuck in it.
Gavin Wilson
Consumption is spending that drives the economy. Why would you want to discourage that?
Daniel Cook
Theoretically a country can run like a company; other companies pay "rent" to the government to have the platform for investments, headquarters, and a market to buy/sell products.
Like corporate tax but not a "tax", if you catch my drift.
Other than that, OP sucks fat cock.
Sebastian Anderson
Its a simple formula really of if its more profitable for them to pay your tax or to abandon the system.
I want a largely deregulated economy with very low income taxes where its easy to make profit. The offset is that once you've made a fortune you pay a tax on its total worth.
I want an economy where people come to make their fortunes not one where they come to sit on them.
Lucas White
If you have to tax something, then usually you have to do so because you need to spend it on something the government wants (government consumption). Best way to do that is to transfer consumption from the populace to the government. Taking from investment is very short sighted as you are hurting the long term ability of the economy to provide goods and services cheaply just to avoid slightly less consumer consumption now.
Thomas Hall
>We should get rid of all taxes and replace it with a wealth tax on billionaires
I agree. The 1% hasn't done a fucking thing for white people. They haven't invested a fucking CENT into white initiatives or white infrastructure.
We should financially fuck them in the ass.
Jace Howard
>inform the country that they've moved to that they owe you a substantial amount of money
Billionaire pays off the authorities of that country
that country tells America to get fucked
America's standing as a global powerhouse dwindles as they have no wealthy class and their economy collapses
Jackson Campbell
>Best way to do that is to transfer consumption from the populace to the government.
I mean if you just want to waste money sure. Government is incredibly inefficient with spending because its spending other people's money and frequently doing so in a manner that lines the pockets of their lobbyist buddies.
>Taking from investment is very short sighted as you are hurting the long term ability of the economy to provide goods and services cheaply
That would be capital gains tax. A tax on investment profits. I am proposing a tax on capital itself regardless of if it is invested or not and regardless of if it is generating income.
Since income and capital gains would not be taxed in the system I propose and uninvested wealth would be taxed just the same as invested wealth the system I proposed encourages the wealthy to invest.
Grayson Reed
>that country tells America to get fucked
Well, then shit gets real.
Did you forget who has the giant bloated military industrial complex? Lets say Panama or Switzerland or the Cayman islands says Fuck you America we're going to steal trillions of dollars from you.
What do you think happens next? Do you think their citizens are prepared to die so that rich Americans don't have to pay their taxes?
Camden Edwards
wouldn't be enough. total, local, state and federal spending PER year is around 7.56 trillion.
total wealth of all the worlds billionaires is just 7.1 trillion.
So even if you take all their shit, its not nearly enough to cover the entire government budget for even a year. Not to mention the monumental loss of jobs/investment the economy would face.
Compounding matters
Jayden Jackson
>Since income and capital gains would not be taxed in the system
what the fuck are you talking about? Were are the capital gains coming from to be immune from taxation when money is an inherently limited supply and all money is being taxed regardless of what it is? Capital gains that don't get taxed in a system with a blanket capital tax?
user are you seriously proposing a world war over tax revenue, because invading a country for sheltering the rich and influencial people of society is how you start a world war.
Chase Myers
>the giant bloated military industrial complex
Who's gonna pay for that? America has no income now. America is North Korea tier now. They're gonna start a war with the EU, potentially Russia if push comes to shove, because they scared off their upper-class with their retarded commie shit?
The US no longer has anything to offer the world, all their productivity is gone. No one would be on their side anymore, as the rich are everywhere but the US.
Xavier Smith
The only tax should be a poverty tax on those making less than 30K. They are the only ones who need government help.
Samuel Edwards
we are only talking about the feds
Kevin Martinez
>Talking from a country with an economy/export level equivalent to 1840s US
Bentley Murphy
Easy: get rid of foreign banks altogether. Americans should only be able to store their wealth in America. Period. If they want to convert it to another currency we tax it at 90%.
Fuck these anti-white rich billionaire cunts who do nothing for white people except treat us all like slaves. I don't know why any of you are loyal to these scumfucks.
Jose Cooper
>user are you seriously proposing a world war over tax revenue
I'm proposing a war over control of the world economic system. Which is what the last world war was about.
>invading a country for sheltering the rich and influencial people of society is how you start a world war.
Taking trillions of dollars of another nations wealth is how you start a world war.
How did that happen exactly? Every billionaire magically moved all their wealth out of the country undetected and presumably managed to relocate their entire company too? All the property, all the equipment, everything. And I guess they sold all their American stocks and bonds too. Then what? They all buy gold and silver at massive mark ups? Or maybe bitcoin?
What you're proposing would entail a massive loss of wealth for them, far greater than the tax I proposed.
Jordan Walker
>magically
It's not that hard to change bank accounts, most of them have at least some of their wealth in offshore accounts already.
>relocate their entire company
They do it all the time, make all your workers redundant, close down properties and sell them, and reopen it in China for that sweet slave labor.
>What you're proposing would entail a massive loss of wealth
Not really, and the losses they might take would be a one off thing, not a yearly loss that increasingly gets bigger every so often coupled with restrictions on the freedom to do their business as they want.
Gavin Long
>Were are the capital gains coming from to be immune from taxation when money is an inherently limited supply and all money is being taxed regardless of what it is?
How are you not getting this?
At present income is taxed at high rates like 40% and so is capital gains. This makes a tremendous cut into the profitability of generating income or making money off investments.
Under the wealth tax I proposed all wealth is taxed at a low rate, like 5%. This greatly increases the amount of wealth that is being taxed but effectively lowers the tax on income and capital gains from 40% down to 5%. This renders investment and new income more profitable then it was before.
Jonathan Barnes
>It's not that hard to change bank accounts
You're taxing net worth. The location of the money is immaterial. They would have to move all assets, all property and all stocks out to prevent them from being seized. That's not easy.
>They do it all the time
No they really don't and they certainly don't do it rapidly, en masse in the sort of sellers market you're proposing. If everyone is panic closing all their assets in a country then they're going to take a huge loss on those assets.
>coupled with restrictions on the freedom to do their business as they want.
I proposed deregulation. They'd have more freedom to run their business as they want and the elimination of income tax and capital gains tax. So long as they are investing and making money they're coming out ahead.
Jordan Gray