The 1%
Apparently, some lefties got together to determine the optimal tax rates on those making over $1M. It’s 76% for the ‘fair distribution of the tax burden’. I don’t buy into the argument that all taxation is theft. But 76% is pretty much theft.
Remember, I do this to entertain me, not you.
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December 14th, 2011 at 11:59 am
“I don’t buy into the argument that all taxation is theft. But 76% is pretty much theft.”
Theft is theft. The difference between 1% and 76% is only the amount of theft. The difference in quantity does not differentiate a difference in the quality and nature of the action.
Also, I do believe legally the crime is robbery not theft.
http://mises.org/etexts/taxrob.asp
December 14th, 2011 at 12:03 pm
“Apparently, some lefties got together to determine the optimal tax rates on those making over $1M”
Why over 1 million? It’s because such a person is a “millionaire”. Except they aren’t if you account for inflation. Accounting for inflation, a millionaire is a person with at least 20 million.
December 14th, 2011 at 12:20 pm
I remember all those Brit Rock Stars coming to the States in the 60’s because the Place that Used to Be was using those Tax Rates.
December 14th, 2011 at 1:18 pm
Taxation is not theft, it’s the price of admission into *ANY* society. Government provides services, and those who benefit from those services should pay for them. The tax code is remarkably unfair, because it’s progressive, and unjustly burdens those people who benefit from services provided by government the least, but everybody does benefit some; whether they are mature and intelligent to acknowledge this fact or not is up for debate.
December 14th, 2011 at 1:18 pm
These are the new Bolsheviks. Bolshevik means, in English, “Majority”.
They represent the 99% no more than that small communist cabal that took over Russia did.
December 14th, 2011 at 1:41 pm
The top marginal rate under Eisenhower was something like 87%. Now that was soaking the rich. Damn Republicans.
December 14th, 2011 at 2:59 pm
The progressive income tax was probably the first Marxist idea adopted by the US Federal Government. As such it was and is a huge drain on the productivity of American Industry. Until we insist the Federal Government only provide those services that are mandated in the Constitution, they will continue to act like rulers instead of servants.
December 14th, 2011 at 3:29 pm
Liberals need to ask themselves: would you like being a slave ‘only’ 76% of the time?
How about we start with every citizen paying an EQUAL part of the federal budget as ‘fair’… and then negotiate from there?
I’ve never met a liberal who had any concept of what ‘fair’ actually is…
December 14th, 2011 at 3:32 pm
But 75% is ok? Or is it 74%?
You know, having principles would keep you from twisting your pretty little head in the wind.
December 14th, 2011 at 4:03 pm
76% federal tax rate +
5% some high rate states have +
3% some locales have =
84 cents on every dollar going to some form of gov’t.
Who here wants to bet that rich folks are smart enough to stay their ass home long before they start having to pay 84 cents on the dollar?
December 14th, 2011 at 4:05 pm
“The top marginal rate under Eisenhower was something like 87%. Now that was soaking the rich. Damn Republicans.”
The top marginal tax rate was 87% with about 50X the number of available deductions such that the actual effective tax rate was within a percent or two of where it is now…
December 14th, 2011 at 4:34 pm
In my fair state of Clifornia, the max personal income tax rate is 9.3%. Los Angeles County, where I am also privileged to live, has a sales tax rate is 8.75% So the Hollywood liberals could be shelling out 94% for their income, unless they all decide to move to Texas. I could almost want to see that.
December 14th, 2011 at 5:29 pm
@Armed Partisan
“Taxation is not theft, it’s the price of admission into *ANY* society.”
Taxation is theft. It’s protection money. It’s the money you pay to be “protected” because it would be a shame if anything were to happen to you (i.e. prison), your kids (i.e. foster homes), your house (seized), your savings (seized), etc.
“Government provides services, and those who benefit from those services should pay for them.”
The Mafia and street gangs also provide services. They too help out people in need.
“The tax code is remarkably unfair, because it’s progressive, and unjustly burdens those people who benefit from services provided by government the least, but everybody does benefit some; whether they are mature and intelligent to acknowledge this fact or not is up for debate.”
No, the tax code is remarkably unfair because a small number of people get to get away with theft and extortion, just as other parts of the government mean the same small number of people can get away with drug smuggling, money laundering, gun running, counterfeiting, etc on the largest scale possible. The “benefits” are merely tokens, modern bread and circuses, meant to appease the masses to keep them from rioting. Like candy given by a stranger to a child who gets in the car because the stranger says it’s the law, these benefits are of a most dubious benefit at best.
December 14th, 2011 at 7:20 pm
I don’t buy into the argument that all taxation is theft.
Theft: to take property from an individual without consent, i.e. by force.
Taxation is plainly this, on its face. Try opting out, if you dare.
The only way out is to carve out an exception — to make some people “special” — in this case, government employees are the ones being placed above the moral law that governs the rest of us in society.
All arguments making this exception (and it is an exception; it’s not the premise that “taxation is theft” that needs argument, it’s the idea that it is NOT) necessarily invoke some sort of rights-obliterating trump card. #4 Armed Partisan, for example, who invokes “society” in this role. (He also wrongly asserts that “any kind of society” requires theft to function, but that’s a different presumption).
That’s the argument I won’t buy.
December 14th, 2011 at 10:44 pm
So does that mean if you make 999,992.32 per year you get a lower tax rate but if you make just that seven plus bucks extra you get a HUGE tax increase that makes it where you make LESS, after taxes, than the guy who made the 999,992.32?
That’s the problem with ‘progressive’ tax schemes. The brackets skew the results.
I prefer a national sales tax. You buy lots… you pay lots. You buy little, you pay little. Simple, no?
December 14th, 2011 at 11:40 pm
To A Critic and others:
And who is going to pay for the country’s defense how, exactly?
December 15th, 2011 at 10:33 am
@ATLien
A free country, populated by armed and ready men and women, needs little in the way of a professional military for defensive purposes. That little could easily be paid for by donations.
It would be a lot cheaper and more effective if we weren’t also paying for a global offensive, the 700+ military bases, the mercs, the “intelligence” agencies, the kickbacks bribes and outright theft, the unnecessary kill toys, the weapons of mass destruction, the bureaucracy, and the rest of the empire. Now, if you want to know who will pay for these things without a system to coerce everyone into doing so, very few to no one will voluntarily pay for such things, not even those who claim they are necessary.
December 15th, 2011 at 10:39 am
You’ll notice very few of the “it’s theft” folks want to live anywhere there’s none of this “theft” going on.
Taxes are indeed the price of admission for an organized, civilized society. You don’t have the option of freeloading the protections afforded you by civilized society. Defense alone is a dispositive argument that eviscerates the “it’s theft” argument.
December 15th, 2011 at 10:40 am
(And while I’m sympathetic to A Critic argument that we’d be paying a lot less for govt and defense if we weren’t supporting an empire abroad, the problem with his argument is that volunteer donations models would afford people the chance to simply freeload.)
December 15th, 2011 at 10:47 am
BTW, unless you’re comfortable with China owning the high seas, Russia and Iran controlling the Straits of Hormuz and setting oil prices wherever they care to set them, (I am, but I gather most aren’t), etc. then please don’t bitch about how expensive defense is.
The reality is we have such expenditures because without them you can say adios to a stable oil market wherein we exhibit any sort of control at all. Waive goodbye to Israel, Saudi Arabia, Jordan, etc and embrace the Shiite control of about 40% of the world’s proven reserves. And if you’re dumb enough to think we can fix this problem by drilling in AK, please just go find a chainsaw and stick it up your ass because you’re too fucking dumb to live.
Our military adventurism is the bulwark protecting what’s left of cheap, stable oil. Deal with it.
December 15th, 2011 at 12:07 pm
@Sebastian The Blogless
“You’ll notice very few of the “it’s theft” folks want to live anywhere there’s none of this “theft” going on.”
Well, since that leaves the Artic, the Antarctic, and a wee bit of Somalia…you think maybe the locations available have something to do with it?
“Taxes are indeed the price of admission for an organized, civilized society. ”
It’s a criminal form of organization. A civilization would require it’s citizens to act in a civilized manner. Threatening (and punishing the non-compliant) people into paying you a “cut” of what they earn, spend, inherit, or otherwise obtain fairly is not civilized. It’s criminal.
“Defense alone is a dispositive argument that eviscerates the “it’s theft” argument.”
If your local Mafia representative keeps gangbangers from robbing your store, is the non-voluntary “donation” you must pay no longer extortion?
“volunteer donations models would afford people the chance to simply freeload.)”
The number of people who would be able to freeload in a voluntary system is always radically less than those who can freeload in an involuntary system. Half of our working population doesn’t pay income tax, and a good chunk of those who do pay income tax on wages seized by taxation from those who earn an honest living.
“Our military adventurism is the bulwark protecting what’s left of cheap, stable oil. Deal with it.”
It won’t last because it can’t last. Not the oil, not the military, not the state. And then no more taxes!