Which marginal tax idea is wiser, or more foolish, based on the following clues?
A CNBC article titled, Alexandria Ocasio-Cortez has kick-started the Democratic tax debate with her 70% marginal rate idea, explains the 29-year-old newly elected Congressional Representative’s ideas.
The Purpose of This Post
Is to present my 78-year old ideas, based on an ancient 3000-year-old wisdom verse, which will, for certain spur the greatest economic growth, not only in the USA, but the whole world, if enacted.
“because after death both wise people and fools are forgotten (2:16); and because we cannot take anything with us when we die (1:12; 5:15)”
What’s My Idea?
Before I explain my idea, I will first state that Ms. Cortex idea is not new. It has been already been tried in the USA but did not survive over time.
Other forms of the same idea have occurred in history with deadly results such as Communism and/or Socialism, etc. etc., and which over time also did not survive.
History has recorded repeatedly over time, every new generation eventually regained power and wealth by either war or words, same as now again being resuscitated by Rep. Cortez.
Today in our contemporary time and world,
“some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all,
“the richest 1 percent of the world’s population is worth more than the other 99 percent of people”
The Rich Get Richer
The rich are about to get richer as equality will soon get worse, experts say. Economic statistics to prove that people of wealth use their wealth to accumulate more wealth or treasure.
For example, auctions take place all over the world by people who purchase material objects and pay millions of dollars for articles ranging from a former movie star or a once revered person that died. A Da Vinci painting sold recently for $450 million dollars.
There are millions of people all over the world living in poverty or lacking the meager earthly treasure such as clean water, food, or a solid roof at night to sleep, for example, The State of California has both the wealthiest and most homeless populations in the USA.
Will Rep. Cortez Plan Start Another Civil War in the USA?
The USA has both a history of a Civil War when the Nation became divided. Even King Solomon’s Nation divided after his death because of taxes..
Many wealthy people in the USA resent paying taxes to the present government because they believe they worked hard for their wealth and their tax money will be spent foolishly by the government and/or distributed to people who are too lazy to work themselves.
“In contrast, the top 1 percent of all taxpayers (taxpayers with AGIs of $465,626 and above) earned 20.58 percent of all AGI in 2014 but paid 39.48 percent of all federal income taxes. In 2014, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined, 2017.” ( Source Google)
Since no one knows the future, in a country where reported estimates claim there are over 400 million guns in the hands of the population, I wonder if Rep Cortez idea might result in deadly violence over time if enacted.
To be Concluded in Next Post
Please do not be perturbed. I am purposely delaying presenting my idea to hopefully prod interested readers to consider the above information as clues to a riddle.
Perhaps interested readers will hopefully consider their answer to the riddle to compare to mine which I will present in the next final post.
“What tax idea, will guarantee there will never be any objections that will arise by the population when they pay my tax idea instead of a 70 percent marginal tax rate?”
Read the Source Links below.
Can you surmise my idea based on the ancient and contemporary clues to this riddle?
Regards and good will blogging.
The Message of Ecclesiastes
BBC World’s Richest
THE RICH ARE ABOUT TO GET RICHER
Da Vinci Painting Auction