While eight states propose their own "wealth tax" targeting the highest earners, there are significant economic consequences to consider, even at the national level (7 min read.)
Taxation is government sanctioned theft and it really needs to stop. The waste is astronomical and giving the crooked politicians more will simply mean more to be wasted as it lines the pockets of the corrupt. Anyway, a great deal of investment income was already taxed when it was earned. People should be able to use their money as they see fit- start a business, help a neighborhood, the list could be endless. Enough is enough.
Every time I discuss a tax withdrawal with almost anyone, I get push back which I understand on the surface, as it would be very difficult for one person as assets could be "legally frozen", but I oft wonder why someone with far more audience than I does not put forth such a proposition. Very easy to go after one or two of us for refusing to succumb to the government theft called taxation, even more difficult when it is millions of taxpayers. I thought during the virus shutdown, If I am too stupid to make my own daily decisions, then certainly I am too stupid for you to take my money - go make your own and stop stealing mine - oddly, tax collection is one thing they did not shut down. And even then, when government was using our money to tell us what they were making us do, I could get few to agree taxes should be abolished. If we stop funding the corruption, the corruption eventually stops...
Yea, I've been pushing that concept for awhile now and I think very few people have the courage to do it because, like you said, the government can make life very difficult for you if you don't pay.... but they're already making life difficult by literally stealing the majority of wealth while we willingly do nothing. I do think there needs to be a huge movement started by people with a very large following for this idea to gain traction...but I'm optimistic that it might happen if things continue down the path they're on. You're absolutely right though - if we stop funding corruption, corruption eventually stops!
Anyone dumb enough to support a wealth tax has probably gotten all their booster shots and still wears a mask while alone in the car.
Our society is crashing. Morons are killing us, robbing us and segregating us. The insanity will eventually stop, but will it be before, or after the fall?
Thank you for commenting! To answer your question, I believe it's a numbers game. We strive to reach out to and share our insight with as many thinking people as possible.
Great post! An underhanded maneuver going on in Washington state. The tax is being challenged as unconstitutional, since Washington state does even have an income tax and isplaying it off as "an excise tax". The Supreme court will hear the case but in the mean time, WILL ALLOW THE STATE TO COLLECT THE TAX!
Again, the leftist politicians and professors do not understand even elementary level economics!
Often, when tax consequences make an investment less favorable or riskier, investors will opt out. In many cases that means less wealth and job creation. They are clueless beyond words.
I just hate this crap! The freaks in Washington think that because they won't budget that we can't add! One glaringly obvious example of "not paying their fair share" is BIDET himself! That is a vast oversimplification on my part, of course. Thanks for allowing a small vent.
the problem is- none of that money will get to the people who need it. initialed federal agencies will waste it all. and once the gov makes it ok to tax appreciating assets and still doesn't net enough money to cover all their spending, they'll start taxing your house.
BTW, i think joe rogan moved to taxes to escape from covid hysteria. same thing for ben shapiro. he's talked about he and his wife visiting florida and marveling that they could eat in a restaurant like adults while CA was entirely locked down.
but i know from talking to farmer joel salatin that rich californians are buying farm land in virginia and hiring him to regenerate the land to make it productive. they aren't moving there yet, but they're getting it ready for when they have to make their escape.
imagine CA trying to survive on the taxes paid by drug addicts and homeless people.
Why not a national sales tax? Those who spend the most, foreign visitors, would pay too. 6 states have no State Income tax, Tennessee is one, plus the TN Constitution has a balanced budget mandate. Now that doesn't stop them from other styles of Fees and taxes on specific items. Business licenses. Car Tags etc. But you get to choose what or where you let the state tax you on. If the 'Rich' buy outside of the country to avoid it, the sales tax would still apply upon re-entry. A Balanced Budget and Debt Limit are a must.
Taxation is government sanctioned theft and it really needs to stop. The waste is astronomical and giving the crooked politicians more will simply mean more to be wasted as it lines the pockets of the corrupt. Anyway, a great deal of investment income was already taxed when it was earned. People should be able to use their money as they see fit- start a business, help a neighborhood, the list could be endless. Enough is enough.
Thank you for commenting! I hear you loud and clear.
I 1000% agree, that's why I truly believe that it is our duty to remove ourselves from the taxpayer system.
Every time I discuss a tax withdrawal with almost anyone, I get push back which I understand on the surface, as it would be very difficult for one person as assets could be "legally frozen", but I oft wonder why someone with far more audience than I does not put forth such a proposition. Very easy to go after one or two of us for refusing to succumb to the government theft called taxation, even more difficult when it is millions of taxpayers. I thought during the virus shutdown, If I am too stupid to make my own daily decisions, then certainly I am too stupid for you to take my money - go make your own and stop stealing mine - oddly, tax collection is one thing they did not shut down. And even then, when government was using our money to tell us what they were making us do, I could get few to agree taxes should be abolished. If we stop funding the corruption, the corruption eventually stops...
Yea, I've been pushing that concept for awhile now and I think very few people have the courage to do it because, like you said, the government can make life very difficult for you if you don't pay.... but they're already making life difficult by literally stealing the majority of wealth while we willingly do nothing. I do think there needs to be a huge movement started by people with a very large following for this idea to gain traction...but I'm optimistic that it might happen if things continue down the path they're on. You're absolutely right though - if we stop funding corruption, corruption eventually stops!
1,000 amens.
Anyone dumb enough to support a wealth tax has probably gotten all their booster shots and still wears a mask while alone in the car.
Our society is crashing. Morons are killing us, robbing us and segregating us. The insanity will eventually stop, but will it be before, or after the fall?
Thank you for commenting! To answer your question, I believe it's a numbers game. We strive to reach out to and share our insight with as many thinking people as possible.
1. The politicians will pass a wealth tax.
2. The rich (most of whom are politicians or got rich on Cantillon money streamed to them by government) will evade the wealth tax.
3. Middle-class productive Americans will end up paying the wealth tax.
Exactly my concerns.
Great post! An underhanded maneuver going on in Washington state. The tax is being challenged as unconstitutional, since Washington state does even have an income tax and isplaying it off as "an excise tax". The Supreme court will hear the case but in the mean time, WILL ALLOW THE STATE TO COLLECT THE TAX!
Many thanks for your insight!
Again, the leftist politicians and professors do not understand even elementary level economics!
Often, when tax consequences make an investment less favorable or riskier, investors will opt out. In many cases that means less wealth and job creation. They are clueless beyond words.
Indeed! Thank you for your feedback.
Our race to the lowest common denominator continues unabated.
I hear you.
I just hate this crap! The freaks in Washington think that because they won't budget that we can't add! One glaringly obvious example of "not paying their fair share" is BIDET himself! That is a vast oversimplification on my part, of course. Thanks for allowing a small vent.
Many thanks for commenting! Feel welcome to vent as much as you please -- many of us will relate.
the problem is- none of that money will get to the people who need it. initialed federal agencies will waste it all. and once the gov makes it ok to tax appreciating assets and still doesn't net enough money to cover all their spending, they'll start taxing your house.
BTW, i think joe rogan moved to taxes to escape from covid hysteria. same thing for ben shapiro. he's talked about he and his wife visiting florida and marveling that they could eat in a restaurant like adults while CA was entirely locked down.
but i know from talking to farmer joel salatin that rich californians are buying farm land in virginia and hiring him to regenerate the land to make it productive. they aren't moving there yet, but they're getting it ready for when they have to make their escape.
imagine CA trying to survive on the taxes paid by drug addicts and homeless people.
Thank you for commenting! You've highlighted a number of my own concerns, point by point.
Dems know This Administration has over-spent, cannot manage a checkbook, & now [they] want to refill coffers to spend more.
It's endless.
Many thanks for your feedback!
Always Friend.
Luv Ya & Your Work !
Why not a national sales tax? Those who spend the most, foreign visitors, would pay too. 6 states have no State Income tax, Tennessee is one, plus the TN Constitution has a balanced budget mandate. Now that doesn't stop them from other styles of Fees and taxes on specific items. Business licenses. Car Tags etc. But you get to choose what or where you let the state tax you on. If the 'Rich' buy outside of the country to avoid it, the sales tax would still apply upon re-entry. A Balanced Budget and Debt Limit are a must.
Thank you for commenting! I appreciate your insightful points.