Could a Progressive Tax System make the Rich/Wealthy Business Owners who own and run

[tradeunionsupporter]

Could a Progressive Tax System make the Rich/Wealthy Business Owners who own and run the means of production could higher taxes on them make the Rich Business Owners Poor or cause them to run out of money why or why not ? The reason Im asking this question is because during World War Two and after the War the Tax Rate on the Rich/Wealthy was over 90% than it became 70% ? What Im really trying to ask is could a Progressive Income Tax make all Incomes equal ?


Karl Marx and Frederick Engels
Manifesto
of the Communist Party

1848

II -- PROLETARIANS AND COMMUNISTS

2. A heavy progressive or graduated income tax.

http://www.anu.edu.au/polsci/marx/classics/manifesto.html

[Revolution starts with U]

Could it make them equal? No.
Is a progressive tax progressive? Well, obviously... it's in the name :lol:
Could an income tax cause you to run out of money? impossible... it's taxing your income! If you have no income, you have no tax.

[tradeunionsupporter]

Why Is Bill Clinton Cultivating Envy?

by Stephen Moore

Stephen Moore is director of fiscal policy studies at the Cato Institute.
Added to cato.org on July 31, 1997

This article appeared on cato.org (http://www.cato.org/) on July 31, 1997.

Republicans shouldn't have wilted so easily. They should have met the class-warfare argument head-on. This is not -- nor has it ever been -- a nation principally motivated by greed and envy. Most Americans don't hate rich people as much as Dick Gephardt apparently does. Americans don't begrudge billionaires like Microsoft's Bill Gates or Federal Express's Fred Smith their fortunes. The vast majority of Americans don't want to tax the rich out of existence; they want to become rich themselves.

http://www.cato.org/pub_display.php?pub_id=6111

Stephen Moore seems to be saying that you can tax the Rich into poverty is he correct or right ?

[tradeunionsupporter]

Thank You for your answer.

[RichardAWilson]

The American Tax System is inequitable and regressive. The super-rich, like Bill Gates, aren’t subjected to the income tax as much as they’re subjected to the much lower CGT (Capital Gains Tax).

The CGT is levied on capital appreciation from stocks. Indeed, Warren Buffet admitted that his effective tax rate is lower than those for his office workers. After the Bush Tax Cutting Campaign, the effective tax burden on Corporate Dividends was lowered to the lowest it has been since the Roaring 20s. This low dividend tax approach encouraged our companies to distribute hundreds of billions of dollars in cash reserves among the shareholder class (I.e. Bourgeoisie).

This debate is encouraging. I think I'm going to write an article about the Regressive Nature of our Tax System and I'll create a new discussion for the issue.

[RGacky3]

Stephen Moore seems to be saying that you can tax the Rich into poverty is he correct or right ?


No you cannot, a progressive tax system is progressive, meaning the less you make the less you are taxed.

[agnixie]

Could a Progressive Tax System make the Rich/Wealthy Business Owners who own and run the means of production could higher taxes on them make the Rich Business Owners Poor or cause them to run out of money why or why not ? The reason Im asking this question is because during World War Two and after the War the Tax Rate on the Rich/Wealthy was over 90% than it became 70% ? What Im really trying to ask is could a Progressive Income Tax make all Incomes equal ?


Karl Marx and Frederick Engels
Manifesto
of the Communist Party

1848

II -- PROLETARIANS AND COMMUNISTS

2. A heavy progressive or graduated income tax.

http://www.anu.edu.au/polsci/marx/classics/manifesto.html

Even the founders of capitalism called for a progressive income tax - "The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state." (it's from wealth of nations, Book V, chapter 2)

and
“A tax upon house-rents, therefore, would in general fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be any thing very unreasonable. It is not very unreasonable that the rich should contribute to the public expence, not only in proportion to their revenue, but something more than in proportion.”

Later in the same chapter

[Blackburn]

That first sentence in the Op is garbled.