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LiberalEsto

(22,845 posts)

17. Not capped. Properly taxed.

Reply to RKP5637 (Original post)

Fri Nov 30, 2012, 09:09 AM

Nov 2012

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DU POLL: Do you think there should be a cap on how much wealth one individual can accumulate? [View all] RKP5637 Nov 2012 OP

yes, absolutely bowens43 Nov 2012 #1

I think taxation would probably be best. If we continue to allow the RKP5637 Nov 2012 #2

I couldn't agree more RoccoR5955 Nov 2012 #3

Yep, I recall it as being more balanced back then, and there were lots of extremely wealthy RKP5637 Nov 2012 #5

Not quite. HooptieWagon Nov 2012 #51

‘The people do not own the land. The people do not control the land.’ NT MichaelMcGuire Nov 2012 #4

Accumulation of wealth, no. Income, yes. Jeff In Milwaukee Nov 2012 #6

Yeah, you hit the nail on the head as to what I was trying to state. I too have no RKP5637 Nov 2012 #8

And the corporate boards who approve those insane salaries? Jeff In Milwaukee Nov 2012 #11

And, the elite at Hostess want bonuses too. A reward for destroying RKP5637 Nov 2012 #13

Yup. 90% tax on income over, say, $50M Doctor_J Nov 2012 #32

We don't lack the resources... Jeff In Milwaukee Nov 2012 #37

True Yo_Mama_Been_Loggin Nov 2012 #78

word XemaSab Nov 2012 #39

Does that include lottery winners? n/t guardian Nov 2012 #73

YES! If the value of your house rises beyond a certain level, the Government should confiscate it! Nye Bevan Nov 2012 #7

It would need to be refined ... speaking more of rigged manipulative wealth, those gaming the system RKP5637 Nov 2012 #12

Depends How Wealth is Accumulated dynasaw Nov 2012 #9

Yes!!! Excellent point! n/t RKP5637 Nov 2012 #10

The cap should be on how much can be passed on to relatives MNBrewer Nov 2012 #14

Yes, definitely for outrageous wealth building useless aristocratic empires that RKP5637 Nov 2012 #16

How anyone can say no is beyond my comprehension madokie Nov 2012 #15

I was surprised too! Basically a no is saying we like the rigged system for the 1% and the RKP5637 Nov 2012 #19

Your sig line says all that needs be said madokie Nov 2012 #24

Not capped. Properly taxed. LiberalEsto Nov 2012 #17

Yes!!! If I were to do this poll again I should have said taxed rather than capped. n/t RKP5637 Nov 2012 #20

+1 gollygee Nov 2012 #23

+1000! nt Javaman Nov 2012 #25

+1001. Faygo Kid Nov 2012 #29

Absoutely! I lean to the left and I believe in a 100/1 earnings ratio. Walk away Nov 2012 #33

Yes - the "job creators" need the shit taxed out of them. It's way past time to end the free ride! Initech Nov 2012 #81

Yep!!! n/t RKP5637 Nov 2012 #88

Yep... WillyT Nov 2012 #83

Taxing wealth would lead to even more concentration of wealth into fewer hands. ieoeja Nov 2012 #109

Dynastic wealth is the problem.. 99Forever Nov 2012 #18

+++ 1,000 +++ n/t RKP5637 Nov 2012 #21

Attempting to cap wealth accumulation would be a slippery slope slackmaster Nov 2012 #22

I would suggest it is done via taxation, much as it used to be? n/t RKP5637 Nov 2012 #26

It's like the alarming call of many on DU of late advocating Puzzledtraveller Nov 2012 #36

The government already has the power to confiscate assets RoccoR5955 Nov 2012 #63

No, but it should be fairly taxed. The Velveteen Ocelot Nov 2012 #27

Agree! Capped was a wrong word choice by me. n/t RKP5637 Nov 2012 #28

No limits, but income tax rates should increase in proportion to wealth. geckosfeet Nov 2012 #30

Yes! This is the way to do it IMO! n/t RKP5637 Nov 2012 #31

Yes but we lack a good way to determine the cap IDoMath Nov 2012 #34

Well said. Also, rather than cap. I should have said taxation. n/t RKP5637 Nov 2012 #49

An effective tax would prevent anyone from exceeding the cap but that is even harder to craft IDoMath Nov 2012 #68

We could do modeling for it with effective systems, computing power and 'what if' scenarios. The RKP5637 Nov 2012 #104

If you can find the research funds I'm in IDoMath Nov 2012 #108

Exactly!!! This can be solved! In the big picture, this is a very solvable problem. It's RKP5637 Nov 2012 #110

No PD Turk Nov 2012 #35

I see that as a root cause for many of the problems today, as you said, ""an "anything goes" RKP5637 Nov 2012 #53

No. kossp Nov 2012 #38

Yep!!! n/t RKP5637 Nov 2012 #50

As long as someone made their wealth fairly gravity Nov 2012 #40

Wealth is power. redqueen Nov 2012 #41

Uh Oh! Sorry, 404 Page Not Found PETRUS Nov 2012 #45

Dang. It is an essay called 'Capitalism: A Ghost Story' by Arundhati Roy redqueen Nov 2012 #47

That link gets me to the piece. PETRUS Nov 2012 #52

Very interesting essay! Thanks! Here's one paragraph I took with me ... RKP5637 Nov 2012 #59

Don't think there should be a cap, but a wealth tax might make sense. Hoyt Nov 2012 #42

no, but there should be much higher tax brackets for much higher income levels Motown_Johnny Nov 2012 #43

Yep! Definitely!!! RKP5637 Nov 2012 #102

Nope, no cap on anything RomneyLies Nov 2012 #44

The Minimum Wage is a cap on working class wealth leftstreet Nov 2012 #46

It's not a cap. A HERETIC I AM Nov 2012 #48

Yep. And I don't believe in a floor without a ceiling. nt Comrade_McKenzie Nov 2012 #56

What.... You never seen a patio? A HERETIC I AM Nov 2012 #65

Minimum wage is a floor and not a cap Kaleva Nov 2012 #57

Minimum wage is not a cap. RomneyLies Nov 2012 #86

Progressive taxes and estate taxes are the answers Cary Nov 2012 #54

Definitely!!! n/t RKP5637 Nov 2012 #60

Yes. Concentrated wealth causes less freedom... Comrade_McKenzie Nov 2012 #55

Comrade indeed. n/t Stand and Fight Nov 2012 #80

Not as such. As has been pointed out previously, the key is to severely restrict the capacity to Egalitarian Thug Nov 2012 #58

What I see is that formula has been broken, in past decades it worked quite well, but now RKP5637 Nov 2012 #61

The formula is fine, it's the system that's broken. Egalitarian Thug Nov 2012 #62

Today, the tentacles run deep, and somehow, sometimes, those with nothing are led to believe they RKP5637 Nov 2012 #66

Right again. I've read here on DU that $9.75 is a good job. Egalitarian Thug Nov 2012 #75

I often think some are so disillusioned, even if they don't realize it, that they need to turn to RKP5637 Nov 2012 #87

Talk about the founding fathers - Many in favor of a severe estate tax BlueStreak Nov 2012 #77

That's it exactly. Huge fortunes are a severe drain on the economy. Ours Egalitarian Thug Nov 2012 #85

Yep, allowing endless inherited wealth contributes to empire building often those empires having RKP5637 Nov 2012 #100

there is a cap to being poor - you die Whisp Nov 2012 #64

Those in desperation are often not seen in this country, the media paves over them for the most RKP5637 Nov 2012 #69

No. But income and income from accumulated wealth should be taxed fairly with no loopholes. nt bluestate10 Nov 2012 #67

I think that's the best way to approach it, through fair taxation that benefits all. And riddance of RKP5637 Nov 2012 #97

No, just bring back progressive taxation. Eisenhower closeupready Nov 2012 #70

Exactly!!! RKP5637 Nov 2012 #95

Wealth should be taxed and at a pretty high rate, JDPriestly Nov 2012 #71

I would be happy with a fair tax system that treated all income the same with Wall St gambling yurbud Nov 2012 #72

Here is an interesting take from Thomas Jefferson that is relevant to this topic. Zorra Nov 2012 #74

Very relevant!!! Thanks!!! RKP5637 Nov 2012 #93

Let's not cap taxes....that's the issue, these days. nt MADem Nov 2012 #76

K&R !!! n/t RKP5637 Nov 2012 #92

No, but neither should there be a cap on how much the wealthy must repay.... Agnosticsherbet Nov 2012 #79

I really like your last sentence!!!!!!!! RKP5637 Nov 2012 #91

No. Stand and Fight Nov 2012 #82

Yep!!! RKP5637 Nov 2012 #90

No. NYC Liberal Nov 2012 #84

Minimum wage / Maximum wage . . Makes sense B Calm Nov 2012 #89

Redressing this problem is what the tax code should be for, among other things n/t eridani Nov 2012 #94

Yes, it should be ... one of the problems often is the wealthy worm their way into positions RKP5637 Nov 2012 #99

Where would the cap be set? mainer Nov 2012 #96

I think what is required is a review/modification of the entire tax code. It's complicated, so RKP5637 Nov 2012 #98

Personally, I don't see a problem with incomes being capped. Blue_In_AK Nov 2012 #101

A lot of people have discussed that progressive taxation is really a RKP5637 Nov 2012 #103

What if you're an inventor or author and you sell too many products to consumers? mainer Nov 2012 #105

No, you don't give away your product B Calm Nov 2012 #112

What if you have no employees? You're, say, an author? mainer Nov 2012 #113

You can "WHAT IF" all day long, but B Calm Dec 2012 #115

wealth goes to your kids, splitting up the pot. Tax yes, do not cap wealth. larkrake Nov 2012 #106

Yep, I think taxation is the way to go too! n/t RKP5637 Nov 2012 #107

I am not comfortable with the wording of the choices because arely staircase Nov 2012 #111

I agree, it's a slippery slope! In retrospect, I should have worded it differently, more RKP5637 Nov 2012 #114