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TheFlyingDisk
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Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 3:22 am

So Crandall is advocating higher taxes for rich people, and among other things mandating that US airlines conduct their maintenance domestically.

Discuss

https://www.dallasnews.com/opinion/comm ... um=twitter
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Aaron747
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 4:44 am

Many of the 0.01% agree with him - particularly those with a conscience.
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aerorobnz
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 9:27 am

I am for everyone paying their share but no more than that. Too many wealthy individuals are finding ways around the system, and that is the problem, not the actual tax rate for them.They need to get rid of any and all tax loopholes, refunds and tax breaks for individuals but other than that personal income tax should be one rate for all, that is fair and reasonable. There should be no option to defer taxation or pay less tax with tax credits, just this is what you earned this year, and this is your tax obligation for this year In addition, there should be a higher sales tax on certain goods and services, so that will only affect that tax bracket too, but only if they buy/use/consume those goods and services Effectively consumer pays, and someone with more disposable income will pay more.
In this modern era of everyone has the right to be treated equally, this should also extend to tax. It should not be up to the government or anyone else to determine that because I earn more than arbitrary amount $x that I should be paying more income tax. Say that increased rate is for above 60000 and one person earns 59950 a year, and the other earns 60050. Instead of paying tax of 20% for all (ie:11990 and 12010) you have 20% for the lower and 25% for the higher so the guy that earns $100 more a year pays $3002.50 more in tax. That is totally unreasonable be the person earn 60k or 60million a year. Taxation isn't supposed to be a means of wealth redistribution to other residents, it is the primary means of the residents paying for the public infrastructure, assets and services that we all use and require regardless of wealth but for which can't be charged in a user pays manner. Government, Roads, Teachers, Law enforcement and border/military protection, National Parks, Water preservation, Electricity Generation etc.
Flown to 147 Airports in 62 Countries on 83 Operators and counting. Wanderlust is like Syphilis, once you have the itch it's too late for treatment.
 
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scbriml
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 9:41 am

aerorobnz wrote:
Say that increased rate is for above 60000 and one person earns 59950 a year, and the other earns 60050. Instead of paying tax of 20% for all (ie:11990 and 12010) you have 20% for the lower and 25% for the higher so the guy that earns $100 more a year pays $3002.50 more in tax.


Woah, it doesn't work like that! :shakehead:

The extra tax rate is only applicable to earnings over the threshold, not the whole amount. In your example, the person earning 60,050 would only pay 22.50 (50x0.2 + 50x0.25) more tax than the person earning 59,950.
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L410Turbolet
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 10:04 am

Aaron747 wrote:
Many of the 0.01% agree with him - particularly those with a conscience.


What's stopping them allocating/pooling more funds to truly charitable causes immediately? No need to wait for the law to change.
 
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aerorobnz
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 10:49 am

scbriml wrote:
aerorobnz wrote:
Say that increased rate is for above 60000 and one person earns 59950 a year, and the other earns 60050. Instead of paying tax of 20% for all (ie:11990 and 12010) you have 20% for the lower and 25% for the higher so the guy that earns $100 more a year pays $3002.50 more in tax.


Woah, it doesn't work like that! :shakehead:

The extra tax rate is only applicable to earnings over the threshold, not the whole amount. In your example, the person earning 60,050 would only pay 22.50 (50x0.2 + 50x0.25) more tax than the person earning 59,950.


acknowledged. As soon as I saw your reply that thought returned from my IRD form. Mea Culpa, I was wrong on that assumption and calculations, but even so I still think it should be a simpler tax system that treats every income tax payer the same.. so if you are being taxed one rate on income outright, not over that amount. Otherwise what is the reward for working up the ladder, longer hours, getting paid more or starting a business and at least attempting to get ahead?
Flown to 147 Airports in 62 Countries on 83 Operators and counting. Wanderlust is like Syphilis, once you have the itch it's too late for treatment.
 
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Aaron747
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 12:20 pm

L410Turbolet wrote:
Aaron747 wrote:
Many of the 0.01% agree with him - particularly those with a conscience.


What's stopping them allocating/pooling more funds to truly charitable causes immediately? No need to wait for the law to change.


They can and do...ever heard of the Gates Foundation or Buffett Foundations? However many signatories of the ‘giving pledge’ are on record saying that their tax burden should be much higher to assist with critical services.
If you need someone to blame / throw a rock in the air / you'll hit someone guilty
 
olle
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 12:23 pm

When the middle class was created and workingclass started to read we got the bad R word.

I am very much against revilotions but if the working class like in venezuela feels that there is no option the R word will show up.

After the revilutions there is alwas people saying why did not the upper middleclass and rich see this coming? Why did they not pay to maintain their position and keep safe?

I am total against the stupid left communist regime in venezuela, but why did noone see thiscoming in the 80s when the middle to upper class lived one life and working class on nothing. Then came payday hurting everyone.

My oppinion is that free education and health care is an insurance to avoid bad things to happen. For the middleclass occupying ourself with our next holiday trip an thought to pay for workingclass quality education means we can keep it that way.

Working class need to see that the dream of their children reaching longer then themself is true. They need to understand that they do not need to killthemself for theirs or their childrens health care bill.

Rich people can say they shall more taxes orone daywe are all up for surprise. Will all weapons in circulation in USA that might become nasty.
 
NIKV69
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 12:27 pm

Sheldon Adelson thinks he shouldn't pay more than a third of what he makes. I happen to agree.
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anrec80
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 1:38 pm

NIKV69 wrote:
Sheldon Adelson thinks he shouldn't pay more than a third of what he makes. I happen to agree.


Agree here too. 1/3 is about right - altogether, combined, on all levels.
 
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Aaron747
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 1:38 pm

NIKV69 wrote:
Sheldon Adelson thinks he shouldn't pay more than a third of what he makes. I happen to agree.


Adelson has a lot of skeletons in his closet - not exactly a paragon of anything virtuous. His links to Norm Coleman and the CLF/RJC make him associated with ugly efforts to back the KSA royals in their misadventures and blockage of JASTA suits. There are plenty of other US billionaires who don't directly aid and abet KSA politically.

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scbriml
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 1:39 pm

aerorobnz wrote:
but even so I still think it should be a simpler tax system that treats every income tax payer the same.. so if you are being taxed one rate on income outright, not over that amount. Otherwise what is the reward for working up the ladder, longer hours, getting paid more or starting a business and at least attempting to get ahead?


I don't have an issue with higher earners paying tax at a higher rate on their high earnings. I appreciate that for many on this site opinions like that are considered borderline communist. :lol:

I think the system in the UK (Scotland is slightly different) is quite reasonable:

Tax-free allowance : £12,500 (for everyone earning less than £100,000 - over that, you lose £1 for every extra £2 you earn, so someone earning £125,000 has no tax-free allowance)

First £37,500 of taxable income is taxed at 20% basic rate (which means with the allowance, you can earn up to £50,000 and only pay basic rate tax).

Between £37,500 and £150,000, income is taxed at 40% higher rate

Income over £150,000 is taxed at 45% additional rate

Putting that into perspective, the vast majority of people only pay basic rate tax. Something like only 5% of earners pay higher rate and I believe less than 1% pay additional rate.
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GalaxyFlyer
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 2:14 pm

And Bob, like every rich person advocating this idea, has made sure none of his wealth will be taxed but in a tax-free trust. They don’t want to give it to government.
 
BravoOne
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 2:58 pm

I find it amusing when multi billionaires advocate higher taxes for the top tier tax payers. Most of them have made money and already paid the taxes. When you are worth 5B+ it not that big an impact on your quality of life when pay a little more. The idea of paying more might be offensive but the actual impact other than bragging rights is little. FWIW, I'm opposed to increasing tax rate on the uber rich as the current government will just piss it away with no accountability. Ten years and they will come back asking for more, so now is as good a time as any to say enough is enough.
 
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Aaron747
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 3:42 pm

BravoOne wrote:
I find it amusing when multi billionaires advocate higher taxes for the top tier tax payers. Most of them have made money and already paid the taxes. When you are worth 5B+ it not that big an impact on your quality of life when pay a little more. The idea of paying more might be offensive but the actual impact other than bragging rights is little. FWIW, I'm opposed to increasing tax rate on the uber rich as the current government will just piss it away with no accountability. Ten years and they will come back asking for more, so now is as good a time as any to say enough is enough.


There is no accountability because elections hardly enforce anything - every POTUS and most Congressional members owe uncountable favors to lobbyists and donors.
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Tugger
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Re: Bob Crandall Thinks Rich People Should Pay More Taxes

Mon Aug 12, 2019 4:25 pm

So people are more supportive of increasing the national debt?

I always say: pay your eff'ing bills first! Cut the budget, reduce useless expenses but pay your bills. And for that, if it means getting a second job or increasing taxes then do it.

What we have now is useless, big talking liars and I'll call out the Republican's especially since they have done NOTHING to cut spending even when they could. So if you know you are going to spend money, fund that. If the people are going to vote you out if you do cut then the only option is to increase taxes.

Tugg
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