Economics Thread

And soon when the government needs more money it will be determined that making 500k per year is rich and should be taxed at 70%.

What a joke.
 
What does one do with over $1M per year ?

For that matter, what does one do with over $500K ?

What is the point of hoarding money ?
 
57Brave said:
What does one do with over $1M per year ?

For that matter, what does one do with over $500K ?

What is the point of hoarding money ?
Click to expand...

Live however they choose to because we are free people? Is this a legitimate question?

Who determines what is too much?
 
I think it’s worth mentioning before this discussion even gets rolling that a 70% top marginal rate is not without precedent in the not-too-distant past. Hell, we managed to become the economic engine of the world with, what, a 90% rate?

Before diving into that fray, though, I want to ask thethe: how, in your view, has capitalism been perverted? Do you think that large companies seeking monopoly or monopsony is not how capitalism is supposed to work?
 
57Brave said:
what purpose does wealth for wealth's sake serve ?
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What is the definition of wealth? Who makes that determination?

I do agree that above a certain threshold is an excess and would be better served in the hands of others which means back into the economy. But my threshold would far exceed yours as I don't believe making a million dollars a year is 'wealth'. The place I disagree with you on his whose hands those belong in. Producers/Workers deserve that. The opportunity is there like no time in the last 20 years to get a good job. There has to be drive within an individual to achieve that. Nothing should ever be handed to anyone by a government redistribution. Only opportunity should be made available.
 
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57Brave said:
What does one do with over $1M per year ?

For that matter, what does one do with over $500K ?

What is the point of hoarding money ?
Click to expand...

For someone who accuses others of being sophomoric and asking questions fit for late night, dorm room conversations....
 
Julio3000 said:
I think it’s worth mentioning before this discussion even gets rolling that a 70% top marginal rate is not without precedent in the not-too-distant past. Hell, we managed to become the economic engine of the world with, what, a 90% rate?

Before diving into that fray, though, I want to ask thethe: how, in your view, has capitalism been perverted? Do you think that large companies seeking monopoly or monopsony is not how capitalism is supposed to work?
Click to expand...

To your first point that was a much different world. The competition globally for business would not allow marginal rates in that range to promote success and innovation.

Capitalism has been perverted in three ways:

1) There is no distinction between business and government. Representatives are now just extensions of global corporations.
2) The basis of capitalism is competition and with the large corporations in place there is no room for competition
3) An extension of (2) there is no capitalism for the everyday man. The barriers to enter even simple markest such as hardware stores or supermarkets are too great to enter.
 
It is 3:57 PM and I am asking those defending un tethered wealth to defend their position.
.
and all I've seen so far is "freedom"
Straight out of Koch-Mercer playbook
 
57Brave said:
It is 3:57 PM and I am asking those defending un tethered wealth to defend their position.
.
and all I've seen so far is "freedom"
Straight out of Koch-Mercer playbook
Click to expand...

This is literally rubbish. Are you completely unable to engage in rationale conversation?
 
thethe said:
To your first point that was a much different world. The competition globally for business would not allow marginal rates in that range to promote success and innovation.

Capitalism has been perverted in three ways:

1) There is no distinction between business and government ( ? military). Representatives are now just extensions of global corporations.
Isn't the marriage of government-business- military text book definition of Fascism ?
2) The basis of capitalism is competition and with the large corporations in place there is no room for competition


3) An extension of (2) there is no capitalism for the everyday man. The barriers to enter even simple markest such as hardware stores or supermarkets are too great to enter.
Click to expand...


I have no idea what you are talking about in examples 2 and 3. If you would further expalin
 
thethe said:
This is literally rubbish. Are you completely unable to engage in rationale conversation?
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of course I am --but you seem unable to defend the hoarding of money - which is your reason to maintain low tax rates.
the freedom to hoard wealth
 
57Brave said:
of course I am --but you seem unable to defend the hoarding of money - which is your reason to maintain low tax rates.
the freedom to hoard wealth
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My explanation is actually the perfect one. We are a free society and you are paid based on the services you provide and how much those services are valued. Anyone can provide those services with the proper drive/education. I'm not going to use the fact that many choose not to go this route to change this universal law that has existed for centuries.
 
thethe said:
What is the definition of wealth? Who makes that determination?

I do agree that above a certain threshold is an excess and would be better served in the hands of others which means back into the economy. But my threshold would far exceed yours as I don't believe making a million dollars a year is 'wealth'. The place I disagree with you on his whose hands those belong in. Producers/Workers deserve that. The opportunity is there like no time in the last 20 years to get a good job. There has to be drive within an individual to achieve that. Nothing should ever be handed to anyone by a government redistribution. Only opportunity should be made available.
Click to expand...

Trickle down ---
 
I'll just say that the apples and netflixes were once davids...and they slew a bunch of Goliaths on their way to achieving their current status.

And there are a bunch of little davids right now puttering away in their basements, some of whom in the not-so-distant future will become top dog.

That's part of the genius of capitalism. What Joseph Schumpeter called "the gale of creative destruction."
 
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thethe said:
Have you seen the wage growth? Unemployment numbers? Labor participation? Job numbers?

Its working and its working for the 'types' of people you champion.
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the people I champion are years without drinking water, dismissed as not equal due to gender and subject to random police brutality and systemic racism.
People based on the tint of their skin are yanked out of their homes and sent to a foreign land for no reason
The issues and "types of people" I champion --- puhleese

all the while the planet is choking and the bridges are crumbling due to greed.


Sure those snapshot metrics look good --- but ...
 
Eric Levitz
‏ @EricLevitz
1h1 hour ago

AOC's 70% top tax rate is a moderate, evidence-based policy http://nymag.com/intelligencer/2019...0-top-tax-rate-60-minutes-green-new-deal.html …




57Brave said:
DwF8l3PWkAMynQ0.jpg:large


tell me again what MAGA means
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