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Thread: Walter Williams: Who wins and who loses under the current tax code?

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    Walter Williams: Who wins and who loses under the current tax code?



    Taxation is theft.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    midcan5's Avatar Senior Member
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    This is the usually apologetic nonsense for (not) supporting the place that provides your income, aka paying taxes. Of course they pay more, they benefit more. Stick one on an island and they won't have to pay any taxes. That I'd like to see. And everyone pays taxes and lots, the poor person pays city, property, state, etc etc etc. Everything is taxed just about. They may actually pay more as a percentage than the rich who deduct all kinda BS items. What a joke these YouTubes are.

    "There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." Tax cuts spur economic growth

    "Reagan continued these "modest rollbacks" in his second term. The historic Tax Reform Act of 1986, though it achieved the supply side goal of lowering individual income tax rates, was a startlingly progressive reform. The plan imposed the largest corporate tax increase in history–an act utterly unimaginable for any conservative to support today. Just two years after declaring, "there is no justification" for taxing corporate income, Reagan raised corporate taxes by $120 billion over five years and closed corporate tax loopholes worth about $300 billion over that same period." http://firedoglake.com/2009/02/01/ne...es-you-idiots/


    https://www.brookings.edu/blog/up-fr...-gop-tax-plan/

    http://www.epi.org/publication/tax-faqs/

    The Idolatry of Ideology-Why Tax Cuts Hurt the Economy by Russ Beaton


    Corporate tax shelters - need to test these links. fixed

    http://www.commondreams.org/view/2011/05/10-10
    http://www.mail-archive.com/brc-news.../msg00017.html
    http://robertdfeinman.com/society/br...extortion.html
    http://robertdfeinman.com/society/corporate_taxes.html
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    There are things about the over all tax scheme that bother me. For instance, instead of giving people an education tax credit, just write the check to the school or deduct it from the principal of their student loans. Instead of giving people earned income checks, just make them eligible for medicaid or whatever. Make whether or not to depreciate investment real estate optional instead of this crazy forced depreciation/recapture scheme they do.

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    Quote Originally Posted by midcan5 View Post
    This is the usually apologetic nonsense for (not) supporting the place that provides your income, aka paying taxes. Of course they pay more, they benefit more. Stick one on an island and they won't have to pay any taxes. That I'd like to see. And everyone pays taxes and lots, the poor person pays city, property, state, etc etc etc. Everything is taxed just about. They may actually pay more as a percentage than the rich who deduct all kinda BS items. What a joke these YouTubes are.

    "There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." Tax cuts spur economic growth

    "Reagan continued these "modest rollbacks" in his second term. The historic Tax Reform Act of 1986, though it achieved the supply side goal of lowering individual income tax rates, was a startlingly progressive reform. The plan imposed the largest corporate tax increase in history–an act utterly unimaginable for any conservative to support today. Just two years after declaring, "there is no justification" for taxing corporate income, Reagan raised corporate taxes by $120 billion over five years and closed corporate tax loopholes worth about $300 billion over that same period." http://firedoglake.com/2009/02/01/ne...es-you-idiots/


    https://www.brookings.edu/blog/up-fr...-gop-tax-plan/

    http://www.epi.org/publication/tax-faqs/

    The Idolatry of Ideology-Why Tax Cuts Hurt the Economy by Russ Beaton


    Corporate tax shelters - need to test these links. fixed

    http://www.commondreams.org/view/2011/05/10-10
    http://www.mail-archive.com/brc-news.../msg00017.html
    http://robertdfeinman.com/society/br...extortion.html
    http://robertdfeinman.com/society/corporate_taxes.html


    Did you have even one challenge for the facts Walter Williams recited?

    No.

    Didn't think so.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by Chris View Post


    Taxation is theft.
    The one thing I will take issue with Mr. Williams' stats is the 'federal income tax' qualifier.

    I don't like picking and choosing. When one says 'income tax' most people think of everything out of the check which obviously includes more than just income. To most, FICA is an 'income tax'

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    Quote Originally Posted by Newpublius View Post
    The one thing I will take issue with Mr. Williams' stats is the 'federal income tax' qualifier.

    I don't like picking and choosing. When one says 'income tax' most people think of everything out of the check which obviously includes more than just income. To most, FICA is an 'income tax'
    That would make what he says even worse.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by Chris View Post
    That would make what he says even worse.
    Not quite because of the social security ceiling.

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