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Joe BidenCongratulations to our presumptive Democratic nominee, Joe Biden!
 

kentuck

(110,950 posts)
Tue Feb 25, 2020, 07:13 PM Feb 2020

What should be the Democratic Party position on tax policy and wealth disparity?

What should be the maximum tax rate?

Should there be a minimum tax on income at a certain level?

At what rate should billionaires be taxed?

Should there be a tax on traders on Wall Street?

Should capital gains be taxed at a different rate than earned income of labor?

Should there be no federal taxes on income up to a certain level?

How different should Democrats be from Republicans on this issue?

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
8 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
 

msongs

(67,194 posts)
1. we should heavily tax multi millionaires with 2 houses and lakeside cottage nt
Tue Feb 25, 2020, 07:15 PM
Feb 2020
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

whathehell

(28,969 posts)
7. Multi BILLIONAIRES who rank among the Top Ten Richest
Tue Feb 25, 2020, 07:39 PM
Feb 2020

people in the World need to be taxed even more heavily.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

jalan48

(13,798 posts)
2. Start by showing Americans what the tax rate was under Republican Eisenhower then the
Tue Feb 25, 2020, 07:17 PM
Feb 2020

billionaires will become less hysterical about tax rates that are much higher than today.

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

Hoyt

(54,770 posts)
6. Americans have seen those rates and most know few, if anyone, paid them.
Tue Feb 25, 2020, 07:30 PM
Feb 2020

Heck, back then, one could deduct a lot of stuff that can’t be deducted today.

But, the rates just didn’t affect many.

https://slate.com/business/2017/08/the-history-of-tax-rates-for-the-rich.html

In any event, I think the last several tax cuts should be reduced, capital gains tax increased, and a robust estate tax imposed.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

jalan48

(13,798 posts)
8. Thanks for the info. It looks like the issue is the increase in the number of wealthy households,
Tue Feb 25, 2020, 08:06 PM
Feb 2020

not the tax rate. The article pointed out that though the tax rate (after deductions, etc.) is about 6% lower today the number of wealthy households is greater. A 6% drop becomes more significant because of this.

From the Slate article.

"Those fabled 90 percent tax rates only bit at incomes over $200,000, the equivalent of more than $2 million in today’s dollars. As Greenberg notes, the tax may have only applied to 10,000 families."

From DQYDJ 11/15/19

"Our estimate is 7,647,278 American households have $2 million or more"

https://dqydj.com/how-many-millionaires-decamillionaires-america/

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

rzemanfl

(29,540 posts)
3. Eisenhower rates adjusted for inflation.
Tue Feb 25, 2020, 07:20 PM
Feb 2020

Federal Estate & Gift taxes adjusted for inflation.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

kentuck

(110,950 posts)
4. What about off-shore accounts?
Tue Feb 25, 2020, 07:22 PM
Feb 2020

How should they be taxed? Should they be added to "on-shore" accounts and taxed accordingly?

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

whathehell

(28,969 posts)
5. Excellent question.
Tue Feb 25, 2020, 07:27 PM
Feb 2020

I'm betting those who have them passed.the."I wrote a.bestselling book late in life and now have two houses crowd" LIGHT years ago.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
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