Michael Hudson Series Part 3 - Income Tax

[hozayamz]

"The richest 1%"- always excluding the trust families who happily instituted the income tax on the people who couldn't hide their money. The Archduke wouldn't have been assassinated in 1914 without the US being prepped with the slave tax. Income tax is paid to the people who control the system- the real rich who keep their names out of the papers. Hudson acts like paying 90% was a good thing- the war profiteers were getting all that tax money, honey.

[tashmoo711]

I am absolutely IN LOVE with Michael Hudson.

[Michaelbenoit7]

Fair tax nonsense slavery. Why do you all want to be enslaved?

Taxes have always been born on the back of labor. Taxing the rich is nonsense because they pass that cost on down to us.

[lewicron]

@Michaelbenoit7 idiot.

[gwynedd1]

@Michaelbenoit7

Yeah thought that too until I realized they kept driving up land, mineral and monopoly prices with their "savings"

.

[ihatemoses]

@gwynedd1 Hahaha, I was about to say you're right and then I realized I already did on the city-data forum. "The world's a lonely place, isn't it?" I saw your name and I knew it rang a bell. KEEP GEORGE ALIVE!

[urgener]

Once we get the FairTax, we'll wonder why it took us so long. It'll eliminate the $300? billion wasted on compliance. Poor people won't pay any taxes because of the Prebate. Criminals and illegals will finally contribute to the tax collection. Prices will likely stay the same, but you'll be able to buy a lot more with your pay check. Do the research. Watch the "Its Time"? FairTax video.

[Tealy855]

Congress was granted the power to impose an income tax, however

congress was never granted the broad power to impose such a tax on the vast majority of working americans.

The income tax is contractual for most of us.

[furyofbongos]

HUH? Wikipedia: "the top 1% pay 36.9% of federal tax (wealth 32.7%), the top 5% pay 57.1% (wealth 57.2%), top 10% pay 68% (wealth 69.8%), and the bottom 50% pay 3.3% (wealth 2.8%)"

Am I missing something or is Dr Hudson just plain wrong?

[mrgerbeck]

@furyofbongos I am a bit confused by that too bu I thought of something: Look at all taxes, LAND, sales, etc. all taxes then weight that total amount paid in taxes to an individuals income. Imagine two neighbors, one makes $200k a year and owns a $600k house the other $100k a year and owns a $500k house in the same hood. Depending on the state the property tax added to the income tax can close the actual tax paid as a percentage of income. We should lower taxes starting with the poor.

[asicit2b]

The reason the wealthy (the merchants,ect...) Filed a RETURN was to confirm tax money that was due them.Not to determine if they owed taxes on income.

[globalbeehive]

@asicit2b - Can you expand on this, and explain why tax money would be due them? I had not heard of this before. Thanks for posting.

[alonelychild]

You won´t believe what I´m gonna write down, but I once watched an economist saying in front of an audience: "the tax system in US rewards sucess. It was intentionally designed to be an easier burden as you enrich yourself, and to punish those who accommodate and don´t invest in self-improvements such as MBA´s, new skills, new technnologies, so far so on.. it´s the reason why productivity has risen in America". Instead a progressive, it´s a regressive system.

[itzdLandStupid3taxit]

(at 3.50) And of course if the workers are taxed even the wealthy (any production) can not afford those costs and are obliged to move production to low labor cost countries. free labor of tax enslavement and collect land values instead. Take out the war on terror and you are in for a citizen's dividend (citizen's boni) and a life according to your soul's best interest.

[spectator59]

What happened to part 3?

[RDpapichulo]

yea

[nedbeaty72]

I reckon he sounds like Jello Biafra.

[aceyorba]

just dont pay taxes.. they don't have room in the prisons for you..