California Billionaires Are Leaving the State in Response to Proposed Wealth Tax

Hentenza · Monday at 9:40 AM

Larniavc said:
It does so for the 1%. Everyone else has to struggle far more than in other western democracies.

It actually works for all that take advantage of it. Is still called the land of opportunity.

Hentenza · Monday at 9:42 AM

NxNW said:
In Post 63, you said, "Can you show a socialist government that did not go bankrupt?" That implies that all socialist governments have gone bankrupt.

Some are hanging by a nail like Venezuela and Cuba. You made the leap not me.

NxNW said:
If they still exist, then what was the point of your question? What can you conclude from their continued existence?

That socialism sucks and what California is trying to do will come back and bite them.

Larniavc · Monday at 9:53 AM

Hentenza said:
It actually works for all that take advantage of it. Is still called the land of opportunity.

`That must be why the wealth gap between the minority super rich and the vast magority of America is so great.

Laodicean60 · Monday at 10:13 AM

Larniavc said:
`That must be why the wealth gap between the minority super rich and the vast magority of America is so great.

When you guys across the pond figure out your inequality problem, let us know.

Always in His Presence · Monday at 10:17 AM

Hans Blaster said:
I'm not their tax accountant or any accountant.

But you ARE the one who made the claim.

Hans Blaster said:
(And to avoid replying to yet another post. You MAGAs all look alike.)

.
Said quite a few liberals about my heritage, color of my skin and family - nice to know some things have never changed.

Stopped_lurking · Monday at 10:19 AM

Hentenza said:
Some are hanging by a nail like Venezuela and Cuba. You made the leap not me.

That socialism sucks and what California is trying to do will come back and bite them.

If just having a wealth tax makes a government socialist, then Norway is socialist and they are not close to bankrupt. Nor did Sweden go bankrupt when we had a wealth tax.

Earlier you implied that Sweden had changed back to capitalism, I can't help but wonder from what?

Larniavc · Monday at 10:29 AM

Laodicean60 said:
When you guys across the pond figure out your inequality problem, let us know.

Fewer Billionaires. It's simple maths.

Laodicean60 · Monday at 10:40 AM

Larniavc said:
Fewer Billionaires. It's simple maths.

How do you do that, set a wage cap?

Always in His Presence · Monday at 10:43 AM

Stopped_lurking said:
If just having a wealth tax makes a government socialist, then Norway is socialist and they are not close to bankrupt. Nor did Sweden go bankrupt when we had a wealth tax.

Earlier you implied that Sweden had changed back to capitalism, I can't help but wonder from what?

What is the income tax rate for the middle class in Sweden? 32% to upper middle class 50%

How about Norway? 22% base + 7.7% national insurance contribution = 29.7%

How about the rate for middle income in the US? 5-13% after deductions.

Please don’t tell us it’s just the rich paying more in tax -

Stopped_lurking · Monday at 10:45 AM

Always in His Presence said:
What is the income tax rate for the middle class in Sweden? 32% to upper middle class 50%

How about Norway? 22% base + 7.7% national insurance contribution = 29.7%

How about the rate for middle income in the US? 5-13% after deductions.

Please don’t tell us it’s just the rich paying more in tax -

What are you on about? I've never said anything about who in Sweden pays taxes (we all do). I didn't introduce Sweden into the discussion.

Hentenza · Monday at 11:11 AM

Larniavc said:
`That must be why the wealth gap between the minority super rich and the vast magority of America is so great.

No different than it is in your country of England. But wealth gap is not what we were talking about.

Hentenza · Monday at 11:18 AM

Stopped_lurking said:
If just having a wealth tax makes a government socialist, then Norway is socialist and they are not close to bankrupt. Nor did Sweden go bankrupt when we had a wealth tax.

Not yet. Sweden learned from their mistake and repealed it.

Stopped_lurking said:
Earlier you implied that Sweden had changed back to capitalism, I can't help but wonder from what?

Norway has always been capitalist and uses their wealth, for example oil, to fund their social programs.

Say it aint so · Monday at 11:30 AM

Always in His Presence said:
What is the income tax rate for the middle class in Sweden? 32% to upper middle class 50%

How about Norway? 22% base + 7.7% national insurance contribution = 29.7%

How about the rate for middle income in the US? 5-13% after deductions.

Please don’t tell us it’s just the rich paying more in tax -

Doesn't Sweden for example have tax funded healthcare, pharmaceuticals and free K through college education?

Stopped_lurking · Monday at 11:32 AM

Hentenza said:
Not yet. Sweden learned from their mistake and repealed it.

But what did Sweden change from when they went back to capitalism?

What did you mean with this?

Hentenza said:
A perfect example is Sweden which changed back to a capitalistic economy and now has more billionaires per million people that does the US despite their democratic socialists ideas and policies.

As a side note, the major left party in Sweden is not democratic socialist, it is social democratic (which has had its own developmental history since the late 19th century). But we had wealth tax until 2007 (but we still had a capitalistic economy, and still do), and never were we close to bankruptcy.

Hentenza said:
Norway has always been capitalist and uses their wealth, for example oil, to fund their social programs.

I know, that is why I wonder if you think wealth tax alone is enough to make a country socialist?

Hans Blaster · Monday at 12:04 PM

Always in His Presence said:
But you ARE the one who made the claim.

.
Said quite a few liberals about my heritage, color of my skin and family - nice to know some things have never changed.

I was talking about your postings. I don't care what you look like. I'm not trying to find you in a crowd.

Hentenza · Monday at 12:49 PM

Stopped_lurking said:
But what did Sweden change from when they went back to capitalism?

No. Sweden has always been capitalist but from the left. They realized that by over taxing the rich they were in essence shooting themselves in the foot.

Stopped_lurking said:
What did you mean with this?

As a side note, the major left party in Sweden is not democratic socialist, it is social democratic (which has had its own developmental history since the late 19th century). But we had wealth tax until 2007 (but we still had a capitalistic economy, and still do), and never were we close to bankruptcy.

I agree but I never made the claim that Sweden was socialist.

Stopped_lurking said:
I know, that is why I wonder if you think wealth tax alone is enough to make a country socialist?

I do not think that but I think that a wealth tax is a component of socialism.

Larniavc · Monday at 12:54 PM

Laodicean60 said:
How do you do that, set a wage cap?

The Billionaires are leaving apparently. The money that they normally siphon into their bank accounts stays in circulation.

Always in His Presence · Monday at 1:22 PM

Stopped_lurking said:
If just having a wealth tax makes a government socialist, then Norway is socialist and they are not close to bankrupt. Nor did Sweden go bankrupt when we had a wealth tax.

Earlier you implied that Sweden had changed back to capitalism, I can't help but wonder from what?

Stopped_lurking said:
What are you on about? I've never said anything about who in Sweden pays taxes (we all do). I didn't introduce Sweden into the discussion.

Uh, yes you did.

And I pointed out that the middle class pays three times the taxes that we do in the U S.

I figured you read your own post

RocksInMyHead · Monday at 1:27 PM

Hentenza said:
No. Sweden has always been capitalist but from the left. They realized that by over taxing the rich they were in essence shooting themselves in the foot.

I agree but I never made the claim that Sweden was socialist.

You said, all the way back on the first page, that Sweden "changed back to a capitalistic economy" when they dropped their wealth tax:

Hentenza said:
Socialists economic policies actually drain economies when they depart from a capitalist economy. A perfect example is Sweden which changed back to a capitalistic economy and now has more billionaires per million people that does the US despite their democratic socialists ideas and policies. You don’t want to bite the hand that feeds you.

That implies that Sweden was not capitalist prior to 2007, as one cannot "change back" into something that they already are.

Hentenza said:
I do not think that but I think that a wealth tax is a component of socialism.

It is a generally socialist policy, but having some socialist policies does not make a country socialist. Government-provided healthcare is socialist. Pensions and welfare programs are socialist. Government-funded infrastructure is socialist. Taxation in general is socialist. The United States has all of these things, in some form or another, and yet I don't think anyone would call us socialist.

Hentenza · Monday at 2:10 PM

RocksInMyHead said:
You said, all the way back on the first page, that Sweden "changed back to a capitalistic economy" when they dropped their wealth tax:

That implies that Sweden was not capitalist prior to 2007, as one cannot "change back" into something that they already are.

You are correct. Wrong choice of words on my part.

RocksInMyHead said:
It is a generally socialist policy, but having some socialist policies does not make a country socialist.

I agree.

RocksInMyHead said:
Government-provided healthcare is socialist. Pensions and welfare programs are socialist. Government-funded infrastructure is socialist.

I disagree.

RocksInMyHead said:
Taxation in general is socialist.

An that is where we disagree. Income taxation is just that. The money from income taxation, in addition to business taxes, tariffs, etc., are used to fund programs. In a socialist society, like Cuba for example, the government owns the means of manufacturing, utilities, etc. which does not happen in capitalistic societies.

RocksInMyHead said:
The United States has all of these things, in some form or another, and yet I don't think anyone would call us socialist.

I agree.

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California Billionaires Are Leaving the State in Response to Proposed Wealth Tax

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