Higher taxes for the rich

[Hard Rain]

Im sure they say the same about the rich

However, at the end of the day, either you find a way to grow your middle class and pull people outta poverty, or expect crime to come a knocking.

Please define "middle class". How much do these people earn? How much do they have saved?

BTW, I see you haven't responded to the threads from the past couple days. Did ya check out any of the media I linked to you?

 

[grayston]

Define rich.

"Job creators."

 

[Sherbang]

I say **** the poor .. what have they ever done for me?

You enjoy living in a slum? Even if your immediate neighborhood isn't a slum you still have to live in country full of poor, desperate, ill people.
Poverty breeds sickness, crime, desperation, violence, corruption, filth, human trafficking, drug addiction, prostitution, begging etc.
Alleviating poverty benefits everyone, not just the poor.

 

[Sherbang]

What does a person who earns millions of Rands in salaries and bonuses do with all that money? Why does any single person need so much money? It's greed, pure and simple. In order for one person to be super wealthy, many others have to be really poor.
I don't know if taxing the rich is a good idea or not but when I see how much money a few people have and how little so many have it makes me very despondent for the future, not to mention disgusted at the greed.

 

[Sherbang]

You really don't get it, do you? They're trying to do the exact opposite of growing the middle class. When this government says "Tax the rich more" , they mean "Tax the middle class more". The ANC defines "rich" as someone earning something like R9000 a month. That's pretty damn poor actually, so anyone who is middle class in the real world, will be hit by more taxes, which will then be funneled to "empower" poor people like Tokyo Sexwhale, Malema, or Zuma.

They're not talking about the CEO's getting a few million in bonusses each year. (You know, actual rich people)

Where does the ANC say that? Where do they define rich? Or did you just make that up?
Look at the SA tax rates. Someone earning R9000 a month falls into the lowest tax bracket.

 

[undesign]

What does a person who earns millions of Rands in salaries and bonuses do with all that money? Why does any single person need so much money? It's greed, pure and simple. In order for one person to be super wealthy, many others have to be really poor.
I don't know if taxing the rich is a good idea or not but when I see how much money a few people have and how little so many have it makes me very despondent for the future, not to mention disgusted at the greed.

Yes Comrade Marx. Once you earn a certain threshold just halt your ambition and level out your productivity. Never mind the downstream losses once you remove the incentive to earn more (increased production, output, growth).

 

[grok]

You enjoy living in a slum? Even if your immediate neighborhood isn't a slum you still have to live in country full of poor, desperate, ill people.
Poverty breeds sickness, crime, desperation, violence, corruption, filth, human trafficking, drug addiction, prostitution, begging etc.
Alleviating poverty benefits everyone, not just the poor.

Ugh .. now I'm thinking it would be best to simply have the whole lot put down at once.

 

[daveza]

What does a person who earns millions of Rands in salaries and bonuses do with all that money? Why does any single person need so much money?

How much should we all be allowed to have ?

 

[AstroTurf]

Just increase VAT.

 

[Messugga]

What does a person who earns millions of Rands in salaries and bonuses do with all that money?

The people who earn millions aren't the ones that will get hit by tax hikes. They are already exploiting the various means of avoiding tax with accounts in tax havens and such. Joe Average can also make use of these methods, but their costs are prohibitive at the moment. If my tax doubled, however, it would start making sense to follow similar routes to minimize my personal cost, the result being that instead of getting Rxk from me each month, some bank and various companies are going to be getting the Rxk while the government now gets R0 from me.

 

[Sherbang]

Ugh .. now I'm thinking it would be best to simply have the whole lot put down at once.

I agree... rich and poor... and everyone in between... problem solved!

 

[Sherbang]

How much should we all be allowed to have ?

None. Any money you have must be spent or it expires and becomes worthless

 

[rainynight65]

I always hear this. Where are they going to go with their business? Furthermore anyone with any decent amount of money would already be maximising the use loopholes.

Basically what you're saying is, higher taxes will have an actual effect?

 

[grok]

Basically what you're saying is, higher taxes will have an actual effect?

Of course it will .. the rich will be poorer.

 

[daveza]

Of course it will .. the rich will be poorer.

And the poor like Julius will be richer.

 

[rainynight65]

And the poor like Julius will be richer.

Not richer. Just more credit-worthy.

 

[Alan]

What does a person who earns millions of Rands in salaries and bonuses do with all that money? Why does any single person need so much money? It's greed, pure and simple. In order for one person to be super wealthy, many others have to be really poor.
I don't know if taxing the rich is a good idea or not but when I see how much money a few people have and how little so many have it makes me very despondent for the future, not to mention disgusted at the greed.

Spends it duh. This is a good example of how "taxing the rich" can backfire spectacularly...

The nation's luxury-boat builders, many clinging to their businesses after two years of plunging sales, finally got some good news last week.

President Bush(not dubya), in his budget proposals, asked Congress to repeal the 10 percent luxury tax on yachts priced at more than $100,000 (and also on private planes that cost more than $250,000). The repeal, which Congress is likely to approve, would be retroactive to Feb. 1.

Since the tax took effect in January 1990, hundreds of builders of large and small boats have spoken of it as a stake driven into the heart of an industry already suffering from the recession, tighter bank rules on financing and fallout from the gulf war.

In the last two years, about 100 builders of luxury boats -- recreational craft costing more than $100,000 -- cut their operations severely and laid off thousands of workers. Some builders filed for protection from creditors under Chapter 11 of the Federal Bankruptcy Code.

Now, sales personnel and owners of marine companies are hoping they will be swamped by buyers who have held off in the expectation that the tax will be repealed.

http://www.nytimes.com/1992/02/07/business/falling-tax-would-lift-all-yachts.html

 

[noxibox]

Haven't we heard similar statements from government officials before, everyone got their panties twisted and then nothing happened. There's no detail. They do need to move away from trying to bring in quick fixes. They're as bad as the commentators who foolishly thought it would only take a generation or less to make a dent in the problems left from the past.

Basically what you're saying is, higher taxes will have an actual effect?

I mean where are they going to go with their business? Maybe Estonia.

Oh gee, ok then...

How many potholes did you see in Unter den Linden? How long was the power off? How many weeks' worth of rubbish bags were stacked up in Alexanderplatz? How many government-supported strikes were going on every month? How many politicians went scot-free after being caught and convicted of fraud, and with zero public outcry? How many times were any trains late/burned down/on strike? How long were you there and by how much did electricity prices increase? How many police officers shot people in cold blood and got away with it? How many took bribes? How many times was your luggage broken into at their airport? Your car? How many government tenders are awarded to family members or friends or politicians, despite not meeting the requirements? How much do citizens pay for their healthcare? Or their university studies?

In the UK the busses were almost always late. Trains typically on time. Both cost a bloody fortune to use (regular users can bring the cost down, but it still isn't cheap). Electricity only went off on one day, about five times. It's not cheap either. And prices are escalating. Petrol costs about 50% more than South Africa, but the cars are reasonably priced. UK police don't often shoot people, but they have been involved in a few murders and they got away with it every time. Who knows if the politicians are taking bribes, they're usually quite good at not getting caught. Luggage was never broken into there or here, ever. My car's never been broken into in South Africa. Plenty of shady things go on in government tenders in the UK and Europe. People do buy private healthcare in the UK and there are regular stories of the problems with the public system. University is in the region of £6000 per year and up. Are they getting value for their tax money? Hard to say.

 

[Vrotappel]

"We should have a society where those with resources are willing to give to those that have nothing and in the end we will all win," she told a poverty conference in Johannesburg on Thursday.

"This may require increased levels of taxation for the rich and it will require the captains of industry and investors to accept lower profits so that their workers may enjoy higher and, dare I say it, decent work."

The captains of industry and investors will take their money elsewhere dumb ****.

 

[noxibox]

The captains of industry and investors will take their money elsewhere dumb ****.

Only if they're incredibly foolish. Most recognise the huge opportunity, tax or no tax.