TEDxHampshireCollege - Chuck Collins -- Taxing the Wealthy

Hampshire College alum Chuck Collins is a senior scholar at the Institute for Policy Studies (IPS) and directs IPS's Program on Inequality and the Common Good.

In this talk, Chuck discusses an economic and moral rationale for increasing taxes on the wealthy.

http://www.hampshire.edu/

Category:

Science & Technology

Tags:

• United States
• English
• TEDxHampshireCollege
• Hampshire College
• TEDx
• Chuck Collins
• Taxing the Wealthy
• Institute for Policy Studies
• 99%
• Business
• tax
• taxation
• taxes
• equality
• inequality
• global issues
• politics
• community

[deneicy]

...You didn’t have to worry that maurauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea—God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along."-- Elizabeth Warren

[lambrettist2007]

@Sesquipedalian101 Our society and our government institutions are not a charity. Progessive taxation built this great country. Massive tax-cutting and massive war spending is destroying it.

[BenkaiDebussy]

@dmoton314 Because unemployed people greatly outnumber open positions, laziness doesn't make sense. So it comes down to the second thing you mentioned. The important thing to keep in mind is that, by and large, our system works very well for the wealthiest corporations (see: high profits despite high unemployment), but primarily benefits wealthy individuals. Our nation has seen economic mobility drop for many years, and low mobility benefits no one but those who are already wealthy.

[blakstar101]

@rashad123us It would not "eliminate" the middle class since the middle class earns a lot. You can solve the 'more burden' problem by moving the arbitrary level of poverty to wherever you want. Under that level you get deductions to where you practically pay nothing.

[rashad123us]

@blakstar101 Flat tax doesn't work. Those who earn significantly less will have less left over because they can not offer as large of a percentage of their annual income. Those who earn significantly more will have much more left after the "flat tax" is paid. The same percentage has more of a burden when you earn less. This would in effect eliminate the middle class as it effects both ends a lot differently. Basically those with less would pay more while those with more would end up paying less

[blakstar101]

@rashad123us That's why I think we should advocate for a flat tax with no deductions except for those who earn below whatever is declared the poverty level, i.e. a 22k annual income.

[blakstar101]

@TheGeneralCritic You didn't address my argument at all. All you did was tell me that America should operate around a Marxist philosophy. That is your preference.

[rashad123us]

@blakstar101 What made the possible is the infrastructure that is funded primarily by taxes. Why should those who earn less pay a greater percentage of their income? The country will ultimately be ruined of this trend is not reversed.

[TheGeneralCritic]

@blakstar101 I have never been presented with a good argument as to why any person has done anything to earn more than maybe $10 million/year. Not one.

[TheGeneralCritic]

@blakstar101 Also a weak argument. The rich should pay according to their ability, not according to their need because their needs- food, roof, etc- have already been taken care of in spades. No tax short of a 99% tax on the rich is in danger of turning a rich man ($10 million+ per year) into a poor man. (>$15,000/year).