Ending poverty by taxing away the .001 percent


#1

Ending poverty by taxing away the .001 percent

Such a super small price to pay, if I could snap my fingers and make it happen right now I would.

But tax is coercion…xyz. Just stop, the world has no need and no justification for the coming trillionaires. We can put them in cryo freeze and send them to another planet, there must be some connection between income-assets and contribution. I could care less if people are just sitting on their ass can cranking out babies I much rather fund that than a trillionaire or a 100 billionaire or even a billionaire. If someone wants to do something on a trillion dollar scale, no problem, they will just need other people’s buy in and not simply a counter productive personal fund of wealth.


#2

I mentioned this before; the tax you’re complaining about by targetting individuals solves mostly not much. It is corporations which a mass huge amounts of assets and churn those assets to reap from the financial system and its structure profits which require not much actions. The actions of these organizations are no more than appearance based; the strongest propaganda groups are investment management types, and investment management firms. These are your ferrari weilding maybaching, fueling the jet while eating lunch to continue the conversation about the stock they just made profit on, while being flown to a golf course 1 hour away. Only to fly back into the sunset just in time to see the family for dinner.

Their organizations are the cash cows. The United States has a backwards tax scheme, where if you earn up to 17 million your tax rate is increasing continuously; after 17 million usd income, your tax rate dramatically drops and stays quite low. Once your taxable income reaches a vey high point, it is all up to negotiations with tax people. This leads to 15-22% on anything over 20 million usd. That tax rate is about as much as a person who earns 30,000 usd

This being said. These things in US ought to be checked into.


#3

This would just be tackling the symptom of the disease, rather than the cause.

Personally, I am glad the snapping of your fingers leads to little more than a clicking sound. We have too many megalomaniacs as it is.


#4

I agree. It is addressing the symptom. Until greed and hoarding behavior is made transparent, and shamed by society…we’re not going to evolve.


#5

I should note, that there isn’t anything wrong with flying into the sunset home just in time for dinner with the family; though I’d say that that is something affordable only to that society which has no concept of scarcity.

The concept of infinity in order for it to apply to a society, all material and energetic desires of that society must be available instantaneously; and these energies and materials could not destroy the society itself.


#6

Me too.

I tend not to complain about taxes. But I get your point. Some have suggested eliminating corporate tax and just focusing on the income tax. But that sounded strange. Would they have it that easy to confound tax policy by hiding it in trusts and corporations? Pickety’s suggested a tax on total assets and income for the wealthy- a holistic tax at a locked in percentage. I think he suggested 5% a year. He also suggested it would require global cooperation among states to prevent money from moving around and hiding. The Kochs for instance would pay 5% of their income if you added the Waltons we could probably get 10 billion a year from the two of them, and that would be money they wouldn’t be able to spend trying to screw us over more.

With regard to corporations, I like to add a VAT on corporate profit that got progressively steeper as profit increased. I have not problem with disincentivizing certain amounts of profit to disincentivize greed. I’d also like to see the tax code convert large corporations to complete employee ownership (with managers and execs as employees not allowed to own stock or options) while divesting generally useless stock holders. We also have to do something about executive and manager compensation we should tax that like crazy.

I keep thinking back to right after the election of Obama, if he hadn’t botched the handling of the follow up of the Republican partie’s obvious ploy with his friend Henry Louise Gates we could have terminated the Republican party right then. He fumbled, because he was exhausted and instead we ended up with a Republican party that got up off the mat because in a last ditch effort it accidentally got in a scratch and convinced itself Obama was mortal. What followed was no increase in taxes on the useless class. The most important thing in the political world after fortifying and upgrading the net is a huge permanent tax increase on the idle class.


#7

This is simply transferring greed over to the tax collector, and the wealthy person who you intended to lynch with tax is now a victim; and then the tables turn…,.,. and we’ve got the past 100 years all over again.

The system is flawed; come up with a different system, propose it; and may there be virtue to all.


#8

I see your point, but I don’t think they would be victims. Even under what Pickety has in mind that 5% would probably kick in on fortunes that crossed some threshold possible driven by a percentage. It might apply to people with more than a hundred million. Leaving a lot of people with slightly less or people who recently arrived an amount slightly less still free to avoid work and toil and free to all enjoy all the world’s creature comforts. Also there would be an inheritance tax. No reason people should be able to pass on more than 10 million indexed or some such number. If they have no risk and no skin in the game they may dis-identify with their fellow man and use the inheritied wealth against the common good.


#9

#10

You seem to be proposing taxing the rich more heavily as a solution to poverty.

How could taxing rich people help end poverty?

Reducing incentives for productivity & investment isn’t likely to be a good solution for long term poverty.

To end poverty, surely the focus should be on helping the poor to become rich - increasing the productivity of the poor, and on equalising opportunity for all to become wealth generators.

If many more poor people were encouraged, equipped, and resourced to be entrepreneurs rather than cogs in other people’s money making machines, I’m sure we’d have much greater competition, innovation, and a more even spread of wealth.

Obviously there’s no easy answer to poverty, but focusing on enabling the poor to become richer is likely to be more effective in tackling poverty than penalising the successful, as if wealth generation were a zero sum game.


#11

What is with this idea of taxation to solve poverty? It’s everywhere! Solve poverty by taking money from others! I’m poor and so I’m entitled to your money. **** you. I’m poor too. We’re all poor. Get over it. We live in a culture of artificial scarcity. Poverty is a result of that artificial scarcity. Don’t you get it? Poverty is artificial, it’s man made! How do you solve poverty.

  • Stop wasting resources. Nothing in nature is wasted so follow the same pattern.
  • Reclaim the means of production instead of running the rat race.
  • Increase efficiency and production until you have a surplus then sell the excess.
  • exercise basic math skills and do not consume more than your produce or get yourself into debt. If you trade only trade your excess surplus not what you use to live off of. Do not allow another to take control of your means of production. Do not become dependent on another for what you need to survive.

Here endeth the lessen on how to get rid of poverty.

Additional ways to get rid of poverty.

  • Stop having and supporting wars and blowing up random shit and wasting resources that could be used for constructive things.

  • Use easily replacable natural resources, preferably fast growing ones that can serve multiple functions in favor of artificial or slower growing natural resources. Example: Hemp or bamboo. Both grow fast and can be used in a multitude of applications. Why on earth are we cutting down our forests to make paper when we can make paper out of fast growing hemp?

  • Build more efficiently using things like geothermal power for heating or keeping the house cool or convection for air conditioning. Put a fan and a vent at the top of the house. As hot air rises it gets blown out and circulated in for new cooler air. Geothermal piping circulates in cool air from underground during the summer and warm air during the winter thus keeping the tempature of the house stable. Increase insulation so that you have less heat or cold air escaping. Note the point I’m getting across here is improve efficiency and building design. Instead of making cheap stuff that doesn’t last make quality things that do. If you’re saving on heat for instance you’re also saving on power. Power = money. Efficiency = less poverty.


#12

Also put this in off topic.


#13

I see taxing non contributing wealth or even oppressive wealth, as a stop gap. Its not a full solution just a step. It may not be wholly necessary, there may of course be even better approaches. But currently people aren’t working any less hard, more money, power and resource is simply being concentrated into the hands of people who either can’t use or can’t use anymore. A thousand new Billionaires were made during Bush 2. A lot of those didn’t stay billionaires but they are still rich. How many of them made their money the old fashioned way?


#14

You guys are blaming the rich, but it would be unwise to forget the full picture by victimizing the poor.
Lets not forget that some poor are poor not because of economic poverty, but poverty of will, ideas and challenges.
And generations of these people have lived in a world that have discouraged, depressed and desolate them. Hope for them has always been a childish whim in a hostile environment.

Poverty is not solved with assistentialism, it is solved with re-education.

Do you want to fix poverty?
Invest in quality education for everyone.
Don’t offer money, they won’t know what to do with it. In fact, they will fuel their perpetaul misery, because that’s what they have learned to do they whole life.
Instead offer scholarships, open Ivy League type of education to the poorest people, and change their mindset, their habits and especially their vision about the world. Make them believe there is hope in this world, and that they have the tools to fix it.

Never forget the Chinese adage: Give a fish, eat for a day. Teach to fish, eat for life.


#15

Better still, educate children to understand that aggression isn’t the answer to all problems.

This starts at bringing them up peacefully. It ends with aggression being alien to them. Only then will peace have a chance, along with all the cooperation that comes with it.


#16

Watch Freedom of Fascism (youtube above)

If all Americans stop paying “INCOME TAX” that money can be put to good use by the people.

the .001 percent own the things that people need. BTW they probably own the FED/IRS, which people pay tax too.

You only end poverty by putting up things like, Bitcoins, Ethereum and Maidsafe.