Proof They Need to Be Taxed Harder?

Lost_in_the_HTTP

Lifer

Nov 17, 2019

11,264

6,702

136

• Apr 29, 2024

• #1

Affluent Americans are driving US economy and likely delaying need for Fed rate cuts

Older Americans are fueling a sustained boost to the U.S. economy. Benefiting from outsize gains in the stock and housing markets over the past several years, they are accounting for a larger share of consumer spending — the principal driver of economic growth — than ever before.

apnews.com

If they're effectively harming the economy and the majority of people, take more of their gains in taxes, no?

 

J

jmagg

Platinum Member

Nov 21, 2001

2,057

386

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• Apr 29, 2024

• #2

May as well just gas them all and take their assets.

 

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D

desy

Diamond Member

Jan 13, 2000

5,436

211

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• Apr 29, 2024

• #3

That article doesn't say its harming the economy, in fact it says the opposite that the economy is still strong because of their spending. It does contribute to inflation but that is just one factor in a complex economy, google stagflation like we had in the 70's.
In Canada they just increased capital gains taxes for this purpose, only about 40K Canadians would be impacted but holy hell the hand wringing. . .

 

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SteveGrabowski

Diamond Member

Oct 20, 2014

7,117

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• Apr 29, 2024

• #4

jmagg said:

May as well just gas them all and take their assets.

Click to expand...

Ah yes taxation is genocide

 

S

soulcougher73

Lifer

Nov 29, 2006

15,653

4,125

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• Apr 29, 2024

• #5

Tax them more and close all loop holes. Super easy to do if we had politicians with back bones.

 

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iRONic

Diamond Member

Jan 28, 2006

7,122

2,427

136

• Apr 29, 2024

• #6

desy said:

That article doesn't say its harming the economy, in fact it says the opposite that the economy is still strong because of their spending. It does contribute to inflation but that is just one factor in a complex economy, google stagflation like we had in the 70's.
In Canada they just increased capital gains taxes for this purpose, only about 40K Canadians would be impacted but holy hell the hand wringing. . .

Click to expand...

Seems like you read that article before actually commenting. Well done, perhaps the OP should take a lesson.

 

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Chapbass

Diamond Member

May 31, 2004

3,148

89

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• Apr 29, 2024

• #7

Wait wait wait...This is AT. Aren't you all the affluent boomers that this article is talking about? What's up with the "their" talk?