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humtake

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Rofl...again liberals have a hard time understanding economics.

1. Why is Trump evil for getting rid of a good amount of income tax requirements for middle- and low-income people? He got rid of taxes on tips and some other things that essentially lower income tax burdens. But liberals still demonize him for it.
2. Any tax on the rich is just like a tariff wherein the costs are passed on to the consumer, or worse. And this is the part liberals TRULY need to finally understand so we can actually move forward with real solutions. The wealthy have very little liquid money. Most of their money is tied up in investments of companies. Any big tax on them means they have to sell their investments in those companies. And when a lot of money is divested from a company, they are forced to raise prices, lay off workers, etc.
2b. This is why investments can't be taxed, on top of it being a net loss for people with investments. I'll try to explain it in a way a typical liberal can understand at a 5th grade level. If I make $100k a year but I have $500k in investments and you tax me on my networth, you tax me on $600k. If you charge me 10%, then I'd pay $10k for my $100k. Yet, if you tax me 10% on my networth at $600k...I now have to pay $60k which is 60% of my actual income that year. Then I have to sell my investments. Every year, I'd end up having to sell more of my investments until eventually I have very little. Nobody, not even middle class, can sustainably live off of that kind of system.

I'm not saying we shouldn't tax the wealthy more or make them contribute more. I'm just saying that so far liberals haven't found a way of doing that that doesn't cause layoffs, price increases, etc. In fact, the one solution that would cause everyone to pay more based on their status is a flat tax but liberals for some reason don't like that.

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