Economics Thread
- Thread starter sturg33
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msstate7
Well-known member
Jaw
It's OVER 5,000!
The reasoning I've always heard for not applying a massive wealth tax has been that a lot of money would be offshored and a lot of money would no longer be circulated through the economy. The problem is, that's already happened to a large extent. I think Biden's proposal to increase rates on income above 400k is good, then really start jacking it up at 5 million with a scale that ends up around 70% for anything above some crazy number like 50 million. It would need to be accompanied by the elimination of a ton of tax shelters these people are using. No more paying Brad Pitt for letting his thousands of acres be an "unworked farm."
I think there should be significant tax penalties for corporations who reduce the number of domestic employees as well, regardless of the reason. Some form of a significant (like 75%) penalty on any executive bonuses greater than 10% of salary if the company has reduced the year to year number of domestic employees at any point in the past five years. Grant a tax credit equal to half the salary of each job moved from overseas to domestic, renewable at 10% less than the previous year's rate for five years if the position remains filled domestically. That takes away the profit incentive for both the company and the executive to cut payroll, and incentivizes domestic production. The path to corporate success has been to screw over employees to benefit stockholders for too long. That needs a disruptive, revolutionary change.
I'm probably way off on some numbers, and I've no doubt the CoC types would promise dire economic consequences. I really don't care. CEOs can't get multi million dollar bonuses for declaring bankruptcy and putting huge groups out of work. Working employees can't be fired just to increase stock dividends. Financial incentives can't exist to make it profitable for the Kochs, Bloombergs, Adelsons, etc to invest tens of millions in an election. Single individuals can't be allowed that much power over our system. These things seem self evident to me, 100 of us stranded on an island would never allow this level of inequality to develop.
I think there should be significant tax penalties for corporations who reduce the number of domestic employees as well, regardless of the reason. Some form of a significant (like 75%) penalty on any executive bonuses greater than 10% of salary if the company has reduced the year to year number of domestic employees at any point in the past five years. Grant a tax credit equal to half the salary of each job moved from overseas to domestic, renewable at 10% less than the previous year's rate for five years if the position remains filled domestically. That takes away the profit incentive for both the company and the executive to cut payroll, and incentivizes domestic production. The path to corporate success has been to screw over employees to benefit stockholders for too long. That needs a disruptive, revolutionary change.
I'm probably way off on some numbers, and I've no doubt the CoC types would promise dire economic consequences. I really don't care. CEOs can't get multi million dollar bonuses for declaring bankruptcy and putting huge groups out of work. Working employees can't be fired just to increase stock dividends. Financial incentives can't exist to make it profitable for the Kochs, Bloombergs, Adelsons, etc to invest tens of millions in an election. Single individuals can't be allowed that much power over our system. These things seem self evident to me, 100 of us stranded on an island would never allow this level of inequality to develop.
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Progressivism is a mental disorder.
Would explain why every Fortune 500 company now has an exclusion or diversity president which usually always happens to be a woman, usually a black woman. Made up positions that bear no power or responsibility. Has to be the easiest job in the company.
Would explain why every Fortune 500 company now has an exclusion or diversity president which usually always happens to be a woman, usually a black woman. Made up positions that bear no power or responsibility. Has to be the easiest job in the company.
Jaw
It's OVER 5,000!
More like an intolerant religion fighting a holy war. ISIS is a good comp, especially with the shared fondness for toppling statues and silencing dissenters.
cajunrevenge
Well-known member
57Brave
Well-known member
Scott SantensBilled capMan surfing
@scottsantens
·
2h
It's bullschit trickle-down economics to want to give money to businesses
in order to try and keep them open, instead of wanting to get money to
people so they can be customers. Let customers decide which businesses
should succeed or fail based on their spending
@scottsantens
·
2h
It's bullschit trickle-down economics to want to give money to businesses
in order to try and keep them open, instead of wanting to get money to
people so they can be customers. Let customers decide which businesses
should succeed or fail based on their spending
Figured you’d be a big fan of big corporations. People would spend that money at Amazon, Walmart and target. Mom and pop retail and local restaurants would perish. But the democrats have never cared about the common man
Tapate50
Well-known member
You know better than that by now.