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originally posted by: Edumakated
originally posted by: pexx421
And another thing to keep in mind. For most in those “tax brackets” only a small percent of their annual earned monies come from “income”. The vast majority of their annual accrual comes from that “wealth” they are talking about taxing.
Which makes it even more idiotic. Wealth isn't always liquid and the value can constantly change. Make someone sell an asset just so you can tax it is dumb. It is the equivalent of taxing a car, but then making someone sell the car to get the tax.
originally posted by: TheAlleghenyGentleman
a reply to: Edumakated
I live in NYC. The economic disparity here is obscene. I am not poor. I have a pretty nice lifestyle. I also pay a ridiculous amount of rent. The nations middle class would choke within a year if the average person tried to live and play in the large cities.
It is clear to me that the upper class and middle class do not play the same game and live by different rules. My double Ivy PHD girlfriend who was able to get herself out of near poverty in Alabama will be straddled by student loans for years and years to come. The ones who come from wealth are able to attend those prestigious schools while not accruing the same debt.
The system is rigged.
originally posted by: seagull
a reply to: TheAlleghenyGentleman
He's one of the wealthiest people in the world because he came up with a product that everyone wanted--at the time--and he worked his scrawny little ass off to make it sell, and work--at the time--
Yeah, shame on him for wanting to keep it. Poor guy is just so evil.
originally posted by: spiritualarchitect
Warren lied again the other day, saying to the crowd she only wants billionaires to pay “2 cents”. What her plan really says is 2%, meaning about a million dollar payment these billionaires have to pay out.
She does not like billionaires, no reason Bill should like her.
originally posted by: ketsuko
a reply to: pexx421
It's the Mud Pit.
I get so tired over people hating on the few who have so much so that they buy into this crap. Then when they get bit by the taxes created they see it as some magical new problem and buy into the same tired rhetoric all over again.
Politicians rely on you to do this over and over and never, ever learn. What else can you call a person like this? One who falls for the same trick over and over and never gets what they think they will and always suffers more for it, yet falls for the same trick?
I don't know what else to call it. I've tried insanity, but that gets me nowhere.
None of you will be happy until all the rest of us are forced to be as miserable and unhappy as you all are. How dare we make things work and succeed? It's like you all take it as a personal insult.
originally posted by: sligtlyskeptical
I look at a wealth tax as keeping individuals from having too much control over the available money supply. Just like we need to prevent corporate monopolies, we also need to prevent money monopolists. It's not like anyone is saying that you can't have more than you ever need, you still can, just at a certain point is becomes injurious to an economy when the available money is concentrated in only a few hands.
originally posted by: ketsuko
a reply to: pexx421
It's the Mud Pit.
I get so tired over people hating on the few who have so much so that they buy into this crap. Then when they get bit by the taxes created they see it as some magical new problem and buy into the same tired rhetoric all over again.
Politicians rely on you to do this over and over and never, ever learn. What else can you call a person like this? One who falls for the same trick over and over and never gets what they think they will and always suffers more for it, yet falls for the same trick?
I don't know what else to call it. I've tried insanity, but that gets me nowhere.
None of you will be happy until all the rest of us are forced to be as miserable and unhappy as you all are. How dare we make things work and succeed? It's like you all take it as a personal insult.
originally posted by: sligtlyskeptical
I look at a wealth tax as keeping individuals from having too much control over the available money supply. Just like we need to prevent corporate monopolies, we also need to prevent money monopolists. It's not like anyone is saying that you can't have more than you ever need, you still can, just at a certain point is becomes injurious to an economy when the available money is concentrated in only a few hands.
originally posted by: Edumakated
originally posted by: sligtlyskeptical
I look at a wealth tax as keeping individuals from having too much control over the available money supply. Just like we need to prevent corporate monopolies, we also need to prevent money monopolists. It's not like anyone is saying that you can't have more than you ever need, you still can, just at a certain point is becomes injurious to an economy when the available money is concentrated in only a few hands.
Again, demonstrating complete ignorance of financial markets.
The money isn't "concentrated". These people are not hoarding billions of dollars under their mattresses in nickels and dimes. The money is flowing through the economy as it is INVESTED in the markets. That money is given out as loans, angel investments, venture capital, private equity, freaking car loans, etc. Not to mention charitable giving.
If they were hoarding the money, the markets and economy would crash as there would be no credit markets and money flowing for investments.
Nobody of any means keeps a lot of cash on hand. I have clients who are multi-millionaires. Many often only have maybe $100k in cash at any given time. The rest of their money is usually in stocks and bonds. They've have to sell off the assets to get any substantial amount of money.
originally posted by: pexx421
originally posted by: Edumakated
originally posted by: sligtlyskeptical
I look at a wealth tax as keeping individuals from having too much control over the available money supply. Just like we need to prevent corporate monopolies, we also need to prevent money monopolists. It's not like anyone is saying that you can't have more than you ever need, you still can, just at a certain point is becomes injurious to an economy when the available money is concentrated in only a few hands.
Again, demonstrating complete ignorance of financial markets.
The money isn't "concentrated". These people are not hoarding billions of dollars under their mattresses in nickels and dimes. The money is flowing through the economy as it is INVESTED in the markets. That money is given out as loans, angel investments, venture capital, private equity, freaking car loans, etc. Not to mention charitable giving.
If they were hoarding the money, the markets and economy would crash as there would be no credit markets and money flowing for investments.
Nobody of any means keeps a lot of cash on hand. I have clients who are multi-millionaires. Many often only have maybe $100k in cash at any given time. The rest of their money is usually in stocks and bonds. They've have to sell off the assets to get any substantial amount of money.
They aren’t building car manufacturers in the US, or steel mills or microprocessor factories. They make the vast majority of their money by extracting it from the surplus of those who work.
originally posted by: ketsuko
a reply to: pexx421
And policies that affect the US and my life here will do nothing to alleviate the problems in Columbia which are ruled by the governments there.
If Columbia is what you are worried about, then go there and take up the struggle.
originally posted by: Edumakated
originally posted by: pexx421
originally posted by: Edumakated
originally posted by: sligtlyskeptical
I look at a wealth tax as keeping individuals from having too much control over the available money supply. Just like we need to prevent corporate monopolies, we also need to prevent money monopolists. It's not like anyone is saying that you can't have more than you ever need, you still can, just at a certain point is becomes injurious to an economy when the available money is concentrated in only a few hands.
Again, demonstrating complete ignorance of financial markets.
The money isn't "concentrated". These people are not hoarding billions of dollars under their mattresses in nickels and dimes. The money is flowing through the economy as it is INVESTED in the markets. That money is given out as loans, angel investments, venture capital, private equity, freaking car loans, etc. Not to mention charitable giving.
If they were hoarding the money, the markets and economy would crash as there would be no credit markets and money flowing for investments.
Nobody of any means keeps a lot of cash on hand. I have clients who are multi-millionaires. Many often only have maybe $100k in cash at any given time. The rest of their money is usually in stocks and bonds. They've have to sell off the assets to get any substantial amount of money.
They aren’t building car manufacturers in the US, or steel mills or microprocessor factories. They make the vast majority of their money by extracting it from the surplus of those who work.
That statement alone disqualifies you from having any other conversations on this topic. You clearly don't know WTF you are talking about.
How do you think manufacturing plants get built? Where do companies get the money to make large capital investments so they can grow - build plants, buy equipment, hire employees? Mortgages? Car Loans? Venture capital? Private equity?
Seriously, go take some basic finance course and then come back with at least a rudimentary understanding of how markets work and the functions they provide.