Comments on: Pesky Brother-in-Law, Xmas Edition

By: Annuity Rates UK

Annuity Rates UK — Fri, 18 May 2012 01:31:33 +0000

The prospect of higher taxation on pensions comes as savers complain that low interest rates and quantitative easing have pushed down returns on savings and pensions. What is your take on that?

By: dougfir

dougfir — Mon, 26 Dec 2011 18:43:39 +0000

Your objection to the various flat tax plans is that it would raise taxes paid by low income earners and reduce taxes paid by high income earners. To address that inequality, why not allow one (exactly one, no more) deduction? xxxx dollars for every person (corporations included per the Supreme court) listed as a dependent on the tax return. Then set the tax rate at whatever is needed to pay current expenditures and some fixed percentage of existing debt. I suggest $5,000 for the personal deduction. This would reduce the tax burden for low income people struggling to put food on the table and allow plutocrats to claim they pay the same amount as the poor. Allow corporations to include all employees as “dependents”. This provides an incentive to hire people.

By: Bud Meyers

Bud Meyers — Sun, 25 Dec 2011 16:58:15 +0000

If we just taxed annuities, trust funds, gifts, dividends, estates (generation-skipping), and capital gains as REGULAR INCOME according their marginal federal income tax brackets, wouldn’t that be fair?

In 1950 we had a population of 152,271,417 with a top corporate tax rate rising to 52%. The top marginal rate for income was 91% and capital gains was taxed at 25%.

In 2011 we have a population of 312,827, 260 (double 60 years ago) with corporations paying an average “effective” tax rate of 18%. The top marginal rate for income is 35% *before deductions) and capital gains is taxed historically low at 15%.

The GOP and Tea Party wants “smaller government” (less people?)

More people (with natural population growth) makes for “bigger government”, and why a fair balance in taxation and necessary domestic spending is needed to maintain programs like Social Security and Medicare, while maintaining what’s necessary for the defense of the country.

However, while government (people) continues to grow, corporate, capital gains, and the top income tax rates have been steadily in decline. But rather than raise the tax rates, or cut any defense spending, the Republicans want to cut Social Security and Medicare.

Should we tax Kim Kardashian and Paris Hilton?
http://bud-meyers.blogspot.com/2011/12/should-we-tax-kim-kardashian-and-paris.html

Gift Taxes on the Fabulously Rich
http://bud-meyers.blogspot.com/2011/12/gift-taxes-on-fabulously-rich.html

How the 1% bilks the 99%
http://bud-meyers.blogspot.com/2011/12/how-1-bilks-99.html

By: Jared Bernstein

Jared Bernstein — Sun, 25 Dec 2011 15:53:41 +0000

Good point re OWS: see here: http://jaredbernsteinblog.com/occupy-wall-st-this-is-not-a-head-scratcher/

By: Bumpa

Bumpa — Sat, 24 Dec 2011 21:42:47 +0000

Well said and thanks. But you missed comments on Occupy Wherever… that’s OK I think I have that one covered (if you have to ask “what are they about?” then you haven’t been paying attention).

A couple of years ago I had a talk with my bother-in-law, then a B#%hie conservative and one of the 1%, I must have said something right as now he claims to have been a progressive ALL his life!

By: Michael

Michael — Sat, 24 Dec 2011 17:13:11 +0000

If the greatest trick the devil pulled was convincing people he doesn’t exist, then the greatest trick conservatives pulled has been convincing us that their preferred policy option — penury for the aged — is inevitable, rather than a choice.