The Instigator
billsands
Con (against)
Winning
4 Points
The Contender
liem
Pro (for)
Losing
0 Points

Raising the top tax rate to 70% is a good idea

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Post Voting Period
The voting period for this debate has ended.
after 1 vote the winner is...
billsands
Voting Style: Open Point System: 7 Point
Started: 2/16/2019 Category: Economics
Updated: 3 years ago Status: Post Voting Period
Viewed: 771 times Debate No: 120342
Debate Rounds (3)
Comments (10)
Votes (1)

 

billsands

Con

I for the record think the rich should pay more in taxes, A lot more. I am also in support of progressive taxation. I also aknowledge that when the top tax rate was 90% or 75% our economy was great just great, I admit that. My objection is that capital is very mobile in todays world, All you have to do is push a button. To raise the top rate so high in the present is a disaster of an idea for our economy. The highest rate in todays world i could find was 61% in Portugal https://www. Investopedia. Com/incometax/which-countries-have-highest-taxes-high-incomes-0/ we are well down the list and taxes should be raiesed on the wealthy Incementally INCREMENTALLY a raise of 5 or 10% and then study its efect on the economy, If it husrts the economy too badly well then we might bring it down, But 70% thats too big a risk, Its like playing russian roulette
liem

Pro

oRanGe MaN bAd
Debate Round No. 1
billsands

Con

Krugman good in fact krug man is god
liem

Pro

liem forfeited this round.
Debate Round No. 2
billsands

Con

we had high taxes in the past and our economy did very well
liem

Pro

orange man bad and he should be impeached because he's bad
Debate Round No. 3
10 comments have been posted on this debate. Showing 1 through 10 records.
Posted by js248 3 years ago
js248
So first raising taxes on income only hurts the poor not the wealthy. A 70% tax for top earners would be absolutely ridiculous, The reason I say that is Jeff Bezos the richest man in the world has a salary of 80k or somewhere around there. Amazon paid no taxes last year which I absolutely think is horrible. The problem isn't how much we tax people, Its how we tax people. I am conservative and believe in lower taxes but I don't believe in 0 taxes. I say that only to say I believe we need lower income taxes, And higher taxes at the point of sale. Rich people tend to consume more goods and services therefore they would pay more in taxes than people with less. That being said on the low end it would balance out because people would take home more initially but still pay the same in taxes at the end of the month based on there consumption. It would also be much easier to raise taxes on products or services that are more commonly used by wealthier people which in turn would have less of an effect on middle and lower income class people.
Posted by omar2345 3 years ago
omar2345
High social security is fair because then the inequalities will be higher. If the middle class fades away and most people are poor and rich there will be a revolt. A free economy does not fix. Only increases inequality.
Posted by omar2345 3 years ago
omar2345
I prefer a mixed economy like what most countries have but with higher social security. The market will be privatised but the government will regulate and step in when companies have monoplies.
Posted by politicsfortherun 3 years ago
politicsfortherun
@omar2345 true i see what you mean, But still. Socialism doesn"t work. That and it really still isn"t fair.
Posted by omar2345 3 years ago
omar2345
@politicsfortherun

I would advise a mixed economy. Socialist policies in a capitalist economy. Like the United States.

@billsands

The problem with tax rich people higher than they are now is that they are not paying the full amount they are now why would they pay the 70% tax rate? First we should look at enforcing the law then we can look towards an appropriate progressive tax.
Posted by politicsfortherun 3 years ago
politicsfortherun
True they don"t have tax rates that high because irl, Socialism doesn"t work. It"s based off of a. . Nice idea you could say but won"t work irl
Posted by billsands 3 years ago
billsands
I oppose this on practicality as squeky says rich people would just move their captial elsewhere in todays world. If we could return to the days of 90% or 75% it would be fine with me, Ideologically i am a socialist, But even sweden and denmark don't have tax rates this high anymore, One must try to find practical solutions to ideological problems
Posted by politicsfortherun 3 years ago
politicsfortherun
Ok so I actually just did a debate on this and here is my stand point. Ok. First off, A 70% tax raise, Or socialism, DOES NOT WORK. It has never worked for any country. Any country that has tried it in the past? Well their starving and broke now. I believe the definition of "fair" is everyone paying the same amount of tax money. People with more money worked harder to get whwere they are! They deserve to keep their money! Either that or if we start taxing them, They will just take their money else where and that would really hurt our economy. We could take President Trump as an example. With his "small loan of a million dollars", He took that and made it into a muti billion dollar industry. How is that fair if we were to tax someone like that, All because they knew how to do their job and use their money? That"s not fair. The poor people of thise country don"t even pay taxes. They just sit on Medicate. And, I believe yes, Some of them need it. But a lot of them don"t wanna do anything with their lives so they don"t do anything. THOSE people don"t need to be on it. But that"s a discussion for another time. I believe if your rich because you worked to get there, You don"t deserve to be taxed A 70% RAISE. And no, I"m not some "rich girl saying this to protect her money". I"m a middle class person, So this really doesn"t affect me any way. But I believe, You should leave them be. A 70% tax raise is completely and utterly ridiculous. Imagine if you started a business and got really rich, Then some stupid government workers wanted to tax you more because of it. You would be mad. And you would most likely, Move somewhere that wouldn"t do that. Think about the consequences. And look up the word Fair.
Posted by squeakly54n6 3 years ago
squeakly54n6
I think 30 % or 40 % is fair however 70 % is down right stealing. Besides the majority of rich people would just take their money to another country, Taking their jobs with them.
Posted by omar2345 3 years ago
omar2345
@billsands

I'll accept it if no one else does before tomorrow.
1 votes has been placed for this debate.
Vote Placed by EverlastingMoment 3 years ago
EverlastingMoment
billsandsliemTied
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Total points awarded:40 
Reasons for voting decision: Forfeiture and the lack of an argument by Pro.

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