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Posts Tagged ‘Income Tax Obligations’

Is socialism better than capitalism ?

Economics 9 Comments »
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Aquarius asked:


I heard some people on the news saying that socialism is a bad thing. I think socialism is a good thing. It would help make the classes more equal and tax the rich a lot more, making people who make over $250,000 pay a lot more tax. Maybe even 50%, while lessening the tax burden for people who make under $249,999.99. I think it would be awesome. All the professional sports athletes, movie stars, top models, CEOs, CMOs, singers/bands, Presidents/Chairmans of corporations make too much money, so giving them 50% taxes would fuel the economy while giving more purchasing power to the poor and middle class, while giving the wealthy less money to buy their Lamborghini, mansions, yachts, colorful diamond rings, and their million dollar designer wardrobes.
Some families who got rich got rich through criminal activities which were broken apart when various presidents passed anti-trust laws. Some of the criminal activities which made people wealthy were boot-legging and monopolizing industries.
How could a person avoid their income tax obligations? They may be able to avoid paying interest on savings or taxes on dividends but on their national income tax, it’d be rather difficult. They could give up their job or citizenship but would be worse off elsewhere.

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December 12th, 2008 |

Tags: Capitalism, Ceos, Diamond Rings, Income Tax Obligations, Lamborghini




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