Source: Bloomberg TV

Category: Taxes and Policy, Video, Wages & Income

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “Jeff Sachs: Why We Need a Wealth Tax”

  1. stonedwino says:

    Ok. What does the fucking bimbo add to the conversation Bloomberg? Zilch….Money honeys went out with AOL about a decade ago. How about some brains instead?

    • The Window Washer says:

      “or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.”

  2. The Window Washer says:

    I deal with a lot of wealthy people and after they get done saying taxes are to high I ask them if they’d be happy to pay a little more if the tax code was cleaned up. The answer is almost always yes.
    No one really knows who’s paying what and why. For the taxation to feel fair everyone from the top to the bottom needs to understand it.
    And carried interest is B.S.

  3. san_fran_sam says:

    Does anyone else see the irony in Barry posting an article on a wealth tax right after he posts an item on the Ferrari California T?

  4. Concerned Neighbour says:

    I would say Sachs has the right diagnosis, but the wrong prescription. Capitalism does, over time, tend to concentrate wealth in the hands of a few. This is especially true in the blatant crony capitalism that we have today.

    My recipe to deal with this would include:
    1. Very high estate taxation rates. This piece is essential.
    2. Highly progressive personal income tax rate schedule.
    3. Eliminate capital gains and interest income loopholes, perhaps offset by a lifetime $1M exemption. This hits the flows from wealth, rather than the wealth itself.

    I think the majority of Americans would agree with each of these points, if only the infinite pocket lobbyists would get out of the way.

  5. hue says:

    yeah, Trish the dish was disappointing. (as a former media bot, if you had brains, you generally don’t end up as a TV anchor. Broadcast News was one the best movies ever.

    danm, who used to comment here, had been talking about wealth for a long time, income is just the crumbs, loose change under the coach for wealthy.

  6. wisegrowth says:

    LIke Sachs said, it really comes down to a sense of social responsibility.
    Social responsibility is making sure that your wealth is used to make society better. If one prefers to hide their wealth in a place like Bermuda, they are socially irresponsible. And society is coming after them…
    They either keep running and hiding with their money, or they be socially responsible.

  7. noahmckinnon says:

    I’ll add nothing to this conversation other than Jeff has a sweet concentration of hair. Spare a few strands, sir? I only hope to have so much to comb through when I’m his age.

  8. mpappa says:

    When we will see Wall St. demand the same from Government as they do from corporate America. It’s scary obvious they are subsidized from the Government. I don’t mind paying taxes but I do mind how the money is spent inefficiently. We should have quarterly reports from the Government that are highly public. Government is ALWAYS going to spend more than they take in. The more you give the more they spend to buy more votes. Very simple. If they have a deficit it’s their fault. They don’t right size they just raise taxes. See Detroit.

  9. James Shannon says:

    We CLEARLY need to TAX ALL CentaMillionaire$ and Billionaire$ – Out of Existence – if we EVER expect the Corruption of and by Government to end.! Period Exclamation Point.