- Joined
- Jul 19, 2011
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- 113
Higher taxes please to save capitalism
- Thread starter winnipegjets
- Start date
- Joined
- Jul 10, 2008
- Messages
- 65,706
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- 113
Nobody is stopping those billionaires from paying whatever taxes they want.
They'll soon find that no matter how much money they hand over to the taxman it will end up in a bottomless pit and the losers of society will see no change in their lot.
They'll soon find that no matter how much money they hand over to the taxman it will end up in a bottomless pit and the losers of society will see no change in their lot.
- Joined
- Sep 22, 2008
- Messages
- 84,689
- Points
- 113
Usd100mil donated to state of connecticut is not even one year of their education budget.
- Joined
- Jul 19, 2011
- Messages
- 28,058
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- 113
You guys don't read ...just shooting blanks.
- Joined
- Jul 25, 2008
- Messages
- 61,576
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- 113
when one is a loser, no amount of “free”, borrowed, stolen, pubic, and tax money will help. 1 brother runs a family business, pays full share of taxes, provides jobs to family members and several workers in sg and jiuhu, offers generous shares to all his brothers. one brother steals from him while another borrows heavily. the latter cashes out his shares in the millions, resigns from work, spends all, and is now back to borrowing again. unfortunately, from my observation and sexperience at least 69% are in the loser category. they can’t think 6.9 months ahead. they don’t understand the meaning of time and money. they have little to no vision and mindfullness of basic financial concepts, rate of return and growth, wealth creation and building, due diligence, calculated risk, sound investment, and securing financial independence for themselves, their spouses, and their offsprings. the folks who see, plan, and practise well these financial tips have the least need for gov assistance and pubic programs. minimum gov, smaller or non-existent pubic assistance programs and welfare, less handouts are the way to a more civil, responsible and maturing society.
- Joined
- Jul 19, 2011
- Messages
- 28,058
- Points
- 113
How long can CONs con the 60 percent to accept their living conditions? So, how are you going to subdue the 60 percent?
- Joined
- Jul 25, 2008
- Messages
- 61,576
- Points
- 113
losers should be eliminated by natural selection and evolution. manmade and artificial conditions and the falsehoods and grandiose notions of a modern “democratic society” prop these losers up when they should die off in natural habitats and the wilderness. the fact that in sg’s situation the gov has to dumb itself down, provide cheap housing, makan, and transportation for the masses, and periodically coddle to voters with giveaways and cheap gimmicks is a testament to untenable compromises in the long run. sg and any cuntry will be much better off if 69% of these losers are eliminated and exterminated for good. remaining losers can be retained to clean tables, collect cardboard boxes, and sweep the roads. don’t need to eliminate all. high society still needs losers as garbage collectors, waiters, cleaners, construction workers, etc. a minority will do.
- Joined
- Jul 10, 2008
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- 65,706
- Points
- 113
Let's say the bottom 100 million in the USA were given $10,000 per year by the state that would require $1,000,000,000,000.
Where would that money come from?
You can do your own sums at https://dqydj.com/net-worth-percentile-calculator-united-states/
- Joined
- Aug 10, 2008
- Messages
- 108,325
- Points
- 113
And libtards like you don't think, just spewing same old crap.
P.S: Fuck this guy.
- Joined
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- 31,020
- Points
- 113
A bone for the resident left wing bleeding heart liberal fuckwit...
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Labor leader Bill Shorten to give his first press conference of the election campaign.
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Tax the rich more to help the middle class, says OECD
ABOUT 4 HOURS AGO
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Shoppers on escalators in Myer in Perth's CBD.
PHOTO Australia's middle class are facing higher cost of living pressures.
ABC NEWS: HAYLEY ROMAN
Higher tax rates for the wealthy could help finance reductions in the tax burden of lower-to-middle-income households, says a new OECD report.
Key points:
Middle-income households have experienced dismal income growth over the past three decades, says a new OECD report
It highlights the problem of bracket creep — where wage inflation pushes people into higher tax brackets
It also calls for policy changes including income tax cuts, curtailing tax breaks for housing, and fairer wages
The report calls for targeted income tax cuts as a way to boost middle-class disposable incomes and suggests curtailing tax breaks for housing.
The report, Under Pressure: The Squeezed Middle Class, said the "economic centre of gravity is tilting away from the middle".
Middle-income households had experienced dismal income growth over the past three decades as the costs of housing, education and health care had become too expensive.
They have had little capacity to save, and some are even running up debt in order to maintain their standard of living. More than one-in-five middle-income households spend more than they earn.
"As a result, today the middle class looks increasingly like a boat in rocky waters," the report said.
To address the problem, the report calls for other policy changes including getting more women back to work by offering more generous paid parental leave, as well as giving all workers higher wages, including in the form of a "living wage".
Don't help the middle and forget the poor
The report comes as both major parties have unveiled their plans for income tax cuts.
Main tax changes individuals need to know
Main tax changes individuals need to know
ABC News examines the main tax changes for individuals that the major political parties are proposing.
The OECD said greater support for the lower-middle should not come at the expense of the most vulnerable in society.
"It will require greater contributions from the better-off," it said.
Tax reductions for the lower-middle-income group would likely require better-off households — including upper-middle-income households — to make a greater contribution to financing public expenditures, it said.
"Higher marginal tax rates for high-income earners could help finance some of the reductions in the tax burden of lower-middle-income households," it added.
But it cautioned that "capacity to generate substantial additional tax revenue from high-income earners is limited if one wishes to avoid also increasing the tax burden on the middle".
The report notes the problem of bracket creep — where wage inflation pushes people into higher tax brackets — but also warns that tax cuts put pressure on limited government budgets.
"Significant tax cuts for middle-income groups would almost certainly lead to substantial shortfalls in public revenue, as middle-income households generate nearly two-thirds of overall direct tax revenue," it said.
"The funding of social protection systems and public services, of which middle-class households are major beneficiaries, would undoubtedly be affected."
Median incomes have grown slowly
Median incomes have grown slowly since the global financial crisis.
BUDGET 2019
How much income tax will you save?
$
Your annual income
2019 onwards
$0 per year
2023 onwards
$0 per year
2025 onwards
$0 per year
Savings are in comparison to tax paid in 2018 and include income tax, low-income tax offset, and low-and-middle-income tax offset.
Across the OECD, the middle-income class accounts for 61 per cent of the population. In Australia the middle-income class accounts for 58 per cent of the population.
Between 2007 and 2016, median incomes rose by an average of 0.3 per cent per year in 17 OECD countries.
This is less than one-third of the rate in the previous decade and much lower than the 0.8 per cent increase for the top-10 per cent income households.
The report said this dwindling share of income may also result in weaker economic and political influence.
Fewer working-age households are in the middle-income class than three decades ago.
While the share of elderly people in the middle-income class has risen, shares of those from all other age groups have fallen, especially among young people and families with children.
Of those that can work, one-in-six middle-income workers are in occupations that are at high risk of automation.
Traditional middle-class jobs, for example in manufacturing, are disappearing, to be replaced by lower-quality service sector jobs or highly-skilled positions.
"Projections suggest rapid technological change will reduce job quality and earnings stability for middle-income workers, albeit to a lesser extent than among those in low-skilled, low-wage employment," the report said.
Time to ensure fair wages
The report advocates policy changes including ensuring fair wages.
Wages crisis threatens stability
Wages crisis threatens stability
Some of Australia's leading labour market analysts warn wages stagnation is undermining financial stability and social cohesion and there is no improvement in sight.
It noted public debate about the weakening of trade unions over the past few decades was being presented as a contributory factor behind the sluggish wage growth of middle-income households.
"Strengthening collective bargaining has therefore been suggested as one way to support middle-class incomes," it said.
It said minimum wages vary substantially from country to country in the OECD. But in some countries businesses pay "living wages", which are higher than the minimum wage and calculated to cover the cost of living either for a full-time worker or relative to the poverty line.
The report also said there was potential for boosting middle-class incomes by increasing women's hours worked and earnings.
In 24 of the 34 OECD countries examined, the report said second earners pay a higher average tax rate than single earners at the same earnings level, and the number of countries rises to 32 if there are children in the household.
It noted Australia was among countries that have attempted to narrow the "tax wedge" — the gap between before-and after-tax pay for second earners — by abolishing the Dependent Spouse Tax Offset.
The report also calls for household tasks to be shared more fairly between men and women, and suggests well-designed paid-leave provisions and subsidised childcare can help.
Target housing tax breaks
The report also noted that private pension funds and owner-occupied residential property tended to be the most tax-favoured forms of savings.
Australia to see world's worst house price fall
Australia to see world's worst house price fall
Australia will see the world's biggest house price declines in 2019 and homeowners have to wait until 2020 to see any recovery, says a leading credit rating agency.
"Curtailing capital gains tax exemptions for example, could help increase the returns on smaller savings," it said.
But it warned that scrapping all distortive tax advantages for residential property would significantly increase the tax burden on middle-class homeowners, since they hold much higher proportions of their total assets in housing than any other income group.
It also noted the lower-middle-income group held relatively significant wealth despite their lower incomes, often because they have inherited their house.
"Inheritance taxes can generate significant revenue and promote equality of opportunity by reducing overall wealth inequality, but must be carefully designed to avoid overburdening the middle class," the report said.
The middle class account for almost two-thirds of direct tax revenue in most OECD countries.
The report said this meant any policy that aimed to reduce the middle-income group's tax burden or to extend benefits to them may require a trade-off.
"Substantially reducing the tax burden on middle-income households would likely undermine the funding of some public services that they heavily rely on, or it would require more precise targeting of public expenditures to lower-income groups to reduce overall spending," it said.
SHAREEmail Facebook Twitter WhatsApp
RELATED
Comparing Coalition and Labor income tax plans
Sixty-nine millionaires paid zero tax in 2016-17
Tax policy changes you need to know ahead of the federal election
Think you are 'middle class'? Take the test
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Opinion: Australia has two types of elections, so which will we see this time?
Prime Minister Scott Morrison calls federal election for May 18
'We're seeing the unseeable': Scientists reveal first image of a black hole
Father who threw son against wall jailed for 12 years for torture, manslaughter
Analysis: How a damning assessment got turned into approval for Adani’s mine
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The last moments of a Starbucks worker who was gagged and dumped next to a busy Sydney road
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The catfish and the bride: How the Lincoln Lewis impersonator targeted her close friend
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'Hell awaits you': Israel Folau referred to rugby integrity unit over social media posts
Children charged after 'stolen' mini-van crashes, two critically injured
The forecast for Australia's most deadly cyclone was completely wrong, with devastating results
Government documents found on street warn of $1m blow-out
'Coffee not essential for life': Swiss Government orders end to emergency stockpiling
Why is emerging superpower China still categorised as a 'developing' country?
Are electric cars viable for regional Australians?
Laura Tingle on three decades of political reporting and being a woman in the press gallery
Hells Angels linked to network behind massive Melbourne factory fire
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Coming up
Labor leader Bill Shorten to give his first press conference of the election campaign.
NEWS HOME
Tax the rich more to help the middle class, says OECD
ABOUT 4 HOURS AGO
Email Facebook Twitter WhatsApp
Shoppers on escalators in Myer in Perth's CBD.
PHOTO Australia's middle class are facing higher cost of living pressures.
ABC NEWS: HAYLEY ROMAN
Higher tax rates for the wealthy could help finance reductions in the tax burden of lower-to-middle-income households, says a new OECD report.
Key points:
Middle-income households have experienced dismal income growth over the past three decades, says a new OECD report
It highlights the problem of bracket creep — where wage inflation pushes people into higher tax brackets
It also calls for policy changes including income tax cuts, curtailing tax breaks for housing, and fairer wages
The report calls for targeted income tax cuts as a way to boost middle-class disposable incomes and suggests curtailing tax breaks for housing.
The report, Under Pressure: The Squeezed Middle Class, said the "economic centre of gravity is tilting away from the middle".
Middle-income households had experienced dismal income growth over the past three decades as the costs of housing, education and health care had become too expensive.
They have had little capacity to save, and some are even running up debt in order to maintain their standard of living. More than one-in-five middle-income households spend more than they earn.
"As a result, today the middle class looks increasingly like a boat in rocky waters," the report said.
To address the problem, the report calls for other policy changes including getting more women back to work by offering more generous paid parental leave, as well as giving all workers higher wages, including in the form of a "living wage".
Don't help the middle and forget the poor
The report comes as both major parties have unveiled their plans for income tax cuts.
Main tax changes individuals need to know
Main tax changes individuals need to know
ABC News examines the main tax changes for individuals that the major political parties are proposing.
The OECD said greater support for the lower-middle should not come at the expense of the most vulnerable in society.
"It will require greater contributions from the better-off," it said.
Tax reductions for the lower-middle-income group would likely require better-off households — including upper-middle-income households — to make a greater contribution to financing public expenditures, it said.
"Higher marginal tax rates for high-income earners could help finance some of the reductions in the tax burden of lower-middle-income households," it added.
But it cautioned that "capacity to generate substantial additional tax revenue from high-income earners is limited if one wishes to avoid also increasing the tax burden on the middle".
The report notes the problem of bracket creep — where wage inflation pushes people into higher tax brackets — but also warns that tax cuts put pressure on limited government budgets.
"Significant tax cuts for middle-income groups would almost certainly lead to substantial shortfalls in public revenue, as middle-income households generate nearly two-thirds of overall direct tax revenue," it said.
"The funding of social protection systems and public services, of which middle-class households are major beneficiaries, would undoubtedly be affected."
Median incomes have grown slowly
Median incomes have grown slowly since the global financial crisis.
BUDGET 2019
How much income tax will you save?
$
Your annual income
2019 onwards
$0 per year
2023 onwards
$0 per year
2025 onwards
$0 per year
Savings are in comparison to tax paid in 2018 and include income tax, low-income tax offset, and low-and-middle-income tax offset.
Across the OECD, the middle-income class accounts for 61 per cent of the population. In Australia the middle-income class accounts for 58 per cent of the population.
Between 2007 and 2016, median incomes rose by an average of 0.3 per cent per year in 17 OECD countries.
This is less than one-third of the rate in the previous decade and much lower than the 0.8 per cent increase for the top-10 per cent income households.
The report said this dwindling share of income may also result in weaker economic and political influence.
Fewer working-age households are in the middle-income class than three decades ago.
While the share of elderly people in the middle-income class has risen, shares of those from all other age groups have fallen, especially among young people and families with children.
Of those that can work, one-in-six middle-income workers are in occupations that are at high risk of automation.
Traditional middle-class jobs, for example in manufacturing, are disappearing, to be replaced by lower-quality service sector jobs or highly-skilled positions.
"Projections suggest rapid technological change will reduce job quality and earnings stability for middle-income workers, albeit to a lesser extent than among those in low-skilled, low-wage employment," the report said.
Time to ensure fair wages
The report advocates policy changes including ensuring fair wages.
Wages crisis threatens stability
Wages crisis threatens stability
Some of Australia's leading labour market analysts warn wages stagnation is undermining financial stability and social cohesion and there is no improvement in sight.
It noted public debate about the weakening of trade unions over the past few decades was being presented as a contributory factor behind the sluggish wage growth of middle-income households.
"Strengthening collective bargaining has therefore been suggested as one way to support middle-class incomes," it said.
It said minimum wages vary substantially from country to country in the OECD. But in some countries businesses pay "living wages", which are higher than the minimum wage and calculated to cover the cost of living either for a full-time worker or relative to the poverty line.
The report also said there was potential for boosting middle-class incomes by increasing women's hours worked and earnings.
In 24 of the 34 OECD countries examined, the report said second earners pay a higher average tax rate than single earners at the same earnings level, and the number of countries rises to 32 if there are children in the household.
It noted Australia was among countries that have attempted to narrow the "tax wedge" — the gap between before-and after-tax pay for second earners — by abolishing the Dependent Spouse Tax Offset.
The report also calls for household tasks to be shared more fairly between men and women, and suggests well-designed paid-leave provisions and subsidised childcare can help.
Target housing tax breaks
The report also noted that private pension funds and owner-occupied residential property tended to be the most tax-favoured forms of savings.
Australia to see world's worst house price fall
Australia to see world's worst house price fall
Australia will see the world's biggest house price declines in 2019 and homeowners have to wait until 2020 to see any recovery, says a leading credit rating agency.
"Curtailing capital gains tax exemptions for example, could help increase the returns on smaller savings," it said.
But it warned that scrapping all distortive tax advantages for residential property would significantly increase the tax burden on middle-class homeowners, since they hold much higher proportions of their total assets in housing than any other income group.
It also noted the lower-middle-income group held relatively significant wealth despite their lower incomes, often because they have inherited their house.
"Inheritance taxes can generate significant revenue and promote equality of opportunity by reducing overall wealth inequality, but must be carefully designed to avoid overburdening the middle class," the report said.
The middle class account for almost two-thirds of direct tax revenue in most OECD countries.
The report said this meant any policy that aimed to reduce the middle-income group's tax burden or to extend benefits to them may require a trade-off.
"Substantially reducing the tax burden on middle-income households would likely undermine the funding of some public services that they heavily rely on, or it would require more precise targeting of public expenditures to lower-income groups to reduce overall spending," it said.
SHAREEmail Facebook Twitter WhatsApp
RELATED
Comparing Coalition and Labor income tax plans
Sixty-nine millionaires paid zero tax in 2016-17
Tax policy changes you need to know ahead of the federal election
Think you are 'middle class'? Take the test
Top Stories
Live: 'Who do you trust': Morrison makes first official pitch to voters
Opinion: Australia has two types of elections, so which will we see this time?
Prime Minister Scott Morrison calls federal election for May 18
'We're seeing the unseeable': Scientists reveal first image of a black hole
Father who threw son against wall jailed for 12 years for torture, manslaughter
Analysis: How a damning assessment got turned into approval for Adani’s mine
Brexit delayed until October 31 as EU leaders and Britain agree to three-month extension
The last moments of a Starbucks worker who was gagged and dumped next to a busy Sydney road
Doctors finds four bees alive inside Taiwanese woman's eye
The catfish and the bride: How the Lincoln Lewis impersonator targeted her close friend
Analysis: We asked voters about the 'S' word and even if they support it, they don't all know what it is
'Hell awaits you': Israel Folau referred to rugby integrity unit over social media posts
Children charged after 'stolen' mini-van crashes, two critically injured
The forecast for Australia's most deadly cyclone was completely wrong, with devastating results
Government documents found on street warn of $1m blow-out
'Coffee not essential for life': Swiss Government orders end to emergency stockpiling
Why is emerging superpower China still categorised as a 'developing' country?
Are electric cars viable for regional Australians?
Laura Tingle on three decades of political reporting and being a woman in the press gallery
Hells Angels linked to network behind massive Melbourne factory fire
MORE FROM ABC NEWS
HomeJust InAustralia VotesWorldAnalysis & OpinionBusinessSportScienceHealthArtsLive StreamsVideoPhotosEntertainmentSubscribeRuralOther Topics
Top of page
Change to standard view
ABC NewsJust InWorldBusinessHealthEntertainmentSportAnalysis & OpinionWeatherTopicsArchiveCorrections & Clarifications
Terms of UsePrivacy PolicyAccessibilityContact the ABC© 2019 ABC
- Joined
- Mar 5, 2019
- Messages
- 11,137
- Points
- 113
dear leftist bro, while you may have good intentions, socialism is not the panacea you may wish to be.
If America is an example of how capitalism is screwed, then I would like to discuss with you how it's not the fault of capitalism per se. Rather, it's the fault of what the Americans did with capitalism. I will also say that that is equally likely under socialism.
If America is an example of how capitalism is screwed, then I would like to discuss with you how it's not the fault of capitalism per se. Rather, it's the fault of what the Americans did with capitalism. I will also say that that is equally likely under socialism.
- Joined
- Jul 10, 2008
- Messages
- 65,706
- Points
- 113
The problems that American society is experiencing today has nothing to do with Capitalism. It has everything to do with the inferiority of certain creeds that form part of the American population.
Regardless of what system is put in place these sections of society will always be lagging far behind.
- Joined
- Mar 5, 2019
- Messages
- 11,137
- Points
- 113
I certainly agree with you that capitalism is not the source of the problem. The creed inferiority is certainly a valid point, but there's also quite a bit more to it. At the bottom, which is what I'm assuming you're talking about is definitely an issue. In the middle, there are issues, then at the top there are issues as well. In my assessment for what it's worth, the top has done the worst with a very close equal in the bottom. The only difference is that one knows exactly what they are doing and why and the other has no clue. In a sense, I find that to be "guiltier". The middle of course is always the middle of the sandwich that does the most work and puts up with the most shit. I could write a whole paper on it.... but i think the rest of this thread will be pissed off....
- Joined
- Sep 22, 2008
- Messages
- 84,689
- Points
- 113
The problem is the big comanies are buying off their competitors.and closing it down,
