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We Need a Wealth Tax


Hugo Stiglitz

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1 minute ago, BrickHorn said:

Let’s stop talking logic and discuss actual data. This article claims the 400 richest families in America mad $1.8 trillion in income between 2010-2018 (the chart posted above is actually from 2018). That equates to an average annual income of $500 million. 

Stop wasting everyone’s time with bullshit distractions. 

That article is a joke based on including unrealized gains as income. 
 


 

 

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2 hours ago, Don Johnson said:

That article is a joke based on including unrealized gains as income. 
 

Unrealized gains are routinely used as collateral for loans, which enables the investor class to liquidate their holdings tax free AND drive the inflation cycle to help deprecate their own debt bubble. 

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9 hours ago, TwiceHorn said:

Yeah trickle down was the real poison, but its driving or underlying belief is that if we just let business business, everyone will be better off, not just the business.  It's false.

Greed was the “belief.” Pure self-interest. Laissez-faire is the con. Those who believe(d) are/were the marks. The kleptocratic class doesn’t believe in anything but themselves. 

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10 hours ago, TwiceHorn said:

Stop using the term "socialist."  it has bad connotations (intentionally, I might add) and, short of state-owned means of production, doesn't really apply.  Collectivist might be a better word.

Anything that is government funded for the general welfare is a collectivist policy.  Chief among those might be the military.  It's not a bad thing in and of itself, it's why government exists, any government:  it can accomplish things for the general welfare that citizens acting alone cannot, I.e. collectivism.

Regulation is not "socialist," or even really collectivist in the same way other governmental activities can be considered collectivist.  Can it be overdone and become nonsensical? Bet your fur.  Can it also be underdone?  Bet your fur, again.

I think we are in an extended period of under regulation.  It may have initially been a reaction to overdone regulation that had become somewhat nonsensical, but it has gone too far.

I don't think we have to use Western Europe or anyone else as a model. We just need to rein in corporatism.  There's wealth inequality in Europe too, not as broad, but probably in extremis, worse.  Their rich people have had more than two centuries to accumulate wealth, though.  They tend not to do it in a lifetime.

I didn’t mean it in bad connotation. I’ve heard it described that way from a very close liberal friend, and it made sense. 
 

social security, interstate highways, Medicare Medicade. Etc. 

social programs we have to have in my opinion. 

Never really thought about the military.  
 

i do think money like Elon Bezos or Gates is gross. When I saw that pic posted of what bezos did is nauseating. 

would a 10% flat tax across the board with no breaks fix things?  15%. 
 

i hope you understand I am not as educated as most of you. I ask a lot of questions from places of ignorance and enjoy the explanations from a lot of you. 

 


 

 

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5 hours ago, Captainant said:

Unrealized gains are routinely used as collateral for loans, which enables the investor class to liquidate their holdings tax free AND drive the inflation cycle to help deprecate their own debt bubble. 

using something as non purchase money collateral should be a realization event.  exempt your homestead.

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15 hours ago, Don Johnson said:

Actually none of that is fantasy. 

That said, I’d love to see some backup on the bottom 50% paying an effective tax rate of 24%. 

It’s not correct, nor anywhere near correct. I think the actual numbers on the bottom 50% of income earners is sub 5%. I even played with some data using taxpayers (eliminating those that pay no tax) and I don’t think you can get there although it is closer. 

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44 minutes ago, Brew said:

It’s not correct, nor anywhere near correct. I think the actual numbers on the bottom 50% of income earners is sub 5%. I even played with some data using taxpayers (eliminating those that pay no tax) and I don’t think you can get there although it is closer. 

Was a tweet with intentionally false info, meant to rile people up, and everyone ITT believed it hook, line, and sinker.

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2 hours ago, Neonmoon said:

Everyone should pay more taxes, especially the wealthy. 

Anyone who says the government will waste their money should be mocked for their stupidity 

This kind of take grosses me out, tbh. I’m sure my take(s) do the same for you. What a weird life we choose to lead when we first are conceived, to turn an aphorism on its head.

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5 hours ago, BeardIP said:

This kind of take grosses me out, tbh. I’m sure my take(s) do the same for you. What a weird life we choose to lead when we first are conceived, to turn an aphorism on its head.

I’ve probably put a bakers’s dozen of your banned handles on ignore, so yes Chrispy, I don’t enjoy your opinion or your incessant need to join a community where you are clearly not wanted. In fact, sooner or later, I will leave since you and GRHorn ruin every thread with your anti-government, anti-American, anti-vax, crypto hot takes. While you, unlike GRHorn, have toned down your rhetoric in an effort to keep a handle for longer than a month, it’s still the same nonsense. Necro bumping vaccine threads to stir shit up. Shit talking America for not hating India. You exist to constantly stir hate and division. 

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39 minutes ago, Neonmoon said:

I’ve probably put a bakers’s dozen of your banned handles on ignore, so yes Chrispy, I don’t enjoy your opinion or your incessant need to join a community where you are clearly not wanted. In fact, sooner or later, I will leave since you and GRHorn ruin every thread with your anti-government, anti-American, anti-vax, crypto hot takes. While you, unlike GRHorn, have toned down your rhetoric in an effort to keep a handle for longer than a month, it’s still the same nonsense. Necro bumping vaccine threads to stir shit up. Shit talking America for not hating India. You exist to constantly stir hate and division. 

Personally, he doesn't bother me but I admit that he does come off as a weird creep breathing weasel.

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2 minutes ago, Longhorn_Fan68 said:

The Breakfast Club Whats That GIF

 

Someone that does a poor job of putting on a facade to hide their true intentions. Usually, they struggle to mimic normal human behavior due a lack of social skills. As a result, whatever they are being sneaky about comes off as creepy.

The vibe is, "that dude is weird, I think he is going to sniff our seats when we leave the room." Although, he might just be waiting to pitch Amway products but he comes off as a sweaty mouth breathing pervert due to their odd weaselly personality.

 

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10 minutes ago, F250 said:

 

Someone that does a poor job of putting on a facade to hide their true intentions. Usually, they struggle to mimic normal human behavior due a lack of social skills. As a result, whatever they are being sneaky about comes off as creepy.

The vibe is, "that dude is weird, I think he is going to sniff our seats when we leave the room." Although, he might just be waiting to pitch Amway products but he comes off as a sweaty mouth breathing pervert due to their odd weaselly personality.

 

-axLP3HpKJ4__rE2qC88CrHxk3mq_Q85WzOqKZ_G

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