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Economics Discuss I.M.F. Cautions Against Tax Cuts for Wealthy at the Political Forums; Surprise did not see this coming... I.M.F. Cautions Against Tax Cuts for Wealthy as Republicans Consider Them The New York ...

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Old 10-11-2017, 01:15 PM
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Default I.M.F. Cautions Against Tax Cuts for Wealthy

Surprise did not see this coming...


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I.M.F. Cautions Against Tax Cuts for Wealthy as Republicans Consider Them


The New York Times
ANA SWANSON and JIM TANKERSLEY
3 hrs ago


WASHINGTON ó The International Monetary Fund delivered a blunt warning to international policy makers ahead of the fundís annual meeting this week: Governments risk undermining global economic growth by cutting taxes on the wealthy.

The message, while aimed broadly at all developed nations, carries particular resonance in the United States as the Trump administration and Republican lawmakers push a tax plan that critics say will exacerbate income inequality by reducing taxes for the richest Americans.
In a report issued Wednesday, the fund emphasized that flatter tax rates across income scales and lower rates for the highest earners could exacerbate a troubling trend toward growing inequality in the United States and around the world.

The White House is currently pushing a proposal that tax experts warn would cut taxes for the wealthiest Americans by lowering the top rate, by eliminating the estate tax and by doing away with the alternative minimum tax, which imposes a higher rate to ensure the wealthy are not exploiting loopholes.

.................................................. ...... Continued
I.M.F. Cautions Against Tax Cuts for Wealthy as Republicans Consider Them
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Old 10-11-2017, 02:18 PM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

Aaaaand here we go again.

The middle class, which some claim don't exist anymore, carry the brunt of the AMT.

The upper realms of 'wealthy' pay in excess of 40% of all collected taxes.

The lower income earners don't actually pay any effective taxes, and likely receive money as a 'refund' that they never paid in.


Out tax system is entirely FUBAR'ed, and people get in a lather over people who earned money, keeping a little bit more of it.

When people like Warren Buffett say the wealthy don't pay enough taxes, then I'd strongly recommend they write a check for twice the amount the IRS says they owe and send it in as a donation, so they can sleep better at night.
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Old 10-11-2017, 11:32 PM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

GottaGo, did you consider the vast amount in difference between average wage earned vs.. What is said to be wealthy earned income...?

For one thing many of these wealthy persons have a actual voice in politics.. Laws are made to benefit these people.

And our tax system is chaos and needs to be simplified. And reduced the systems cost and employees.. It is so costly and has waste.
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Old 10-12-2017, 06:34 AM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

And what right has the IMF got to tell us about OUR tax policy?

Regards, Kirk
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Old 10-12-2017, 11:34 AM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

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Originally Posted by 300 H and H View Post
And what right has the IMF got to tell us about OUR tax policy?

Regards, Kirk
While I agree with you, monetary policies (to include taxation) in the US do actually have global impacts, via the monetary markets (buy/sell) and dollar valuation to other currencies for trade.

I don't believe any external group should have a say in the setting of tax levels in the US.
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Old 10-12-2017, 11:39 AM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

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Originally Posted by mlurp View Post
GottaGo, did you consider the vast amount in difference between average wage earned vs.. What is said to be wealthy earned income...?

For one thing many of these wealthy persons have a actual voice in politics.. Laws are made to benefit these people.

And our tax system is chaos and needs to be simplified. And reduced the systems cost and employees.. It is so costly and has waste.
I consider it only in the weighted calculations of revenue to the Treasury. I'm not one who judges if someone is worth, or has earned what they are paid, only the person or entity paying it has the right to judge the value of another person's labor.

What someone else makes is of no interest to me, be it more or less. As long as I feel I am justly compensated for what I bring to the table, that is all that matters to me.

As to wealth=voice in politics, I have addressed that numerous times: we have the very best government money can buy. Until we flush DC, and follow with a plunger, it will never change.
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Old 10-12-2017, 09:46 PM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

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Originally Posted by GottaGo View Post
I consider it only in the weighted calculations of revenue to the Treasury. I'm not one who judges if someone is worth, or has earned what they are paid, only the person or entity paying it has the right to judge the value of another person's labor.

What someone else makes is of no interest to me, be it more or less. As long as I feel I am justly compensated for what I bring to the table, that is all that matters to me.

As to wealth=voice in politics, I have addressed that numerous times: we have the very best government money can buy. Until we flush DC, and follow with a plunger, it will never change.


.... Okay it was just a question. ..
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Old 10-12-2017, 10:28 PM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

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Originally Posted by mlurp View Post
yeah folks on the right still don't get it that you only get revenue from them that has it.
they're still in favor of squeezing the turnips
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Old 10-13-2017, 08:59 AM
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Default Re: I.M.F. Cautions Against Tax Cuts for Wealthy

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Originally Posted by saltwn View Post
yeah folks on the right still don't get it that you only get revenue from them that has it.
they're still in favor of squeezing the turnips
Folks on the Left ignore what has happened when governments like those in Venezuela and Cuba use so-called social justice as an excuse for destroying the economy. Oh what a wondrous future where we wait in long lines to buy toliet paper.

The Left vilified the IMF for trying to collect payments on loans to third world countries. After all the US taxpayer was footing most of the bill and we are nothing but greedy exploiters of the economic oppressed. But now the MIC are hero's because they want to advance socialist policies in the US and oppose domestic tax reform.
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