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Are you posting from a computer with internet access inside your air conditioned house with food in the fridge and a car parked outside full of gas?
Congrats, trickle down economics has worked.
That's not trickle down economics. Working a job does not mean that trickle down economics works. Jobs have been around for thousands of years but now the rich are paying less tax, becoming richer while everyone else has less.
Are you posting from a computer with internet access inside your air conditioned house with food in the fridge and a car parked outside full of gas?
Congrats, trickle down economics has worked.
Additionally when the rich are taxed less its not really about how many cans of cheap light beer I have in my fridge, its more about our dilapidating critial infrastructure. Infrastructure thats not going to get fixed on the average persons paltry taxes.
I already know that I will live to see much of the USA start to look like mogidushu because we cant afford to really truely fix anything. It would probably cost a trillion dollars to fix up the entire country. Upgrade the electrical grid, fix damns, bridges, roads, ports, air ports etc etc.
The rich get rich disproportionatly using this public infrastructure that they hope stays working long enough so they can extract the wealth and go to where ever and fleece everyone else. When the rich dont have to pay for their extraction of weath then it is a theft. Sure they are smart and leverage the assets better than the average person but they are not becoming rich in a vacuum, they would not have become rich if they were living in hatti.
That's not trickle down economics. Working a job does not mean that trickle down economics works. Jobs have been around for thousands of years but now the rich are paying less tax, becoming richer while everyone else has less.
Many people don't seem to realize we had really regressive tax rates through most of the industrial revolution and the US powered ahead just fine.. in many cases the top rates were 70-80%. I personally do think there should be a 50% tax bracket for income of $2M or higher. Call it a sin tax to give the government some revenue from those overpriced sports athletes. I'm not a believer in a completely flat tax as simple laws of nature dictate that the top 5% will get most of the power just naturally because it's how mother nature works. Government, though corrupt and wasteful as it is, serves a good purpose keeping us safe, getting interstates built, giving people a helping hand in a time of need, etc.
Trickle down does work somewhat, in that big technological innovations tend to be driven by the rich and then trickle down and become more affordable over time.. the money itself might not trickle down but a lot of the things we take for granted today started because we had really wealthy people that could propel their development. Road bike technology is one example I like to point out.. a lot of the high end Shimano stuff that used to only be on the bikes people paid $5000+ for has trickled down to the 105 line and now cheapskates like me can enjoy it. There's many examples of how technology trickles down to the masses eventually. This issue is one where we should try to find a happy medium between the right who want to have the rich pay no taxes and the left who want to take away any incentive of people to try to make it big by taxing everything they make.
Trickle down does work somewhat, in that big technological innovations tend to be driven by the rich and then trickle down and become more affordable over time.. the money itself might not trickle down but a lot of the things we take for granted today started because we had really wealthy people that could propel their development. Road bike technology is one example I like to point out.. a lot of the high end Shimano stuff that used to only be on the bikes people paid $5000+ for has trickled down to the 105 line and now cheapskates like me can enjoy it. There's many examples of how technology trickles down to the masses eventually. This issue is one where we should try to find a happy medium between the right who want to have the rich pay no taxes and the left who want to take away any incentive of people to try to make it big by taxing everything they make.
But the technological innovation is not for the good of mankind it's for them to get rich. They are not running charities. Things become cheaper and cheaper to make and there is more competition and then the working class buys those things to make companies richer. The rich are not the ones running the economy it's the people who buy things, 99% who are poor in the grand scheme of what is rich nowadays which is $25 million. The rich put money into their companies to make more money not to help the economy. The 99% are the ones that keep the American economy going.
I would have had all these things 15 years ago (and some of them 60 years ago). The economy has grown since then - has my standard of living grown with it? No.
Trickle down economics does not work. Cutting taxes for rich people does not make people lower on the socioeconomic ladder any better off.
But the technological innovation is not for the good of mankind it's for them to get rich. They are not running charities. Things become cheaper and cheaper to make and there is more competition and then the working class buys those things to make companies richer. The rich are not the ones running the economy it's the people who buy things, 99% who are poor in the grand scheme of what is rich nowadays which is $25 million. The rich put money into their companies to make more money not to help the economy. The 99% are the ones that keep the American economy going.
This is way too binary to me. Even if the motivation isn't selfless, it can still have positive benefits. If we're honest, most of us, rich or not, are not selfless creatures. We're self interested. It's not unique to the rich. They're just better at playing the money game.
And believe it or not, making more money isn't always the primary goal of rich people. Often, they have a deep inner motivation to achieve something. Elon Must regularly worked 100 hour weeks. Now, he's dwon to "only" 80 to 90 hour weeks. And I'm almost certain that this type of work schedule is not unusual for people at his level. Money alone just isn't a big enough motivator for all the aggravation you go through running a business.
"For a while there I was just doing constant 100 hour weeks [in order to be the CEO of both Tesla Motors and SpaceX], and that's definitely wearing," Musk shared in the interview. He goes on to say that "now I'm kind of in the 80 to 90 [hours per week range], which is more manageable. But if you divide that by two it's certainly, you know, maybe 45 hours per company, which is not much if you have a lot of things going on."
That's not trickle down economics. Working a job does not mean that trickle down economics works. Jobs have been around for thousands of years but now the rich are paying less tax, becoming richer while everyone else has less.
Actually it does.
All of the great jobs I’ve had in my career were because I worked for a company that was literally created from scratch at one point. The original owners became billionaires. These companies have provided for generations of people’s families to live well. They created powerhouse products and brands that people wanted. Perfected or invented new ideas.
Corporations drive tons of value for stakeholders not just the shareholders. Entire towns and huge metro areas that I have lived in are because of large corporations and the vision of their founder. Corporations create wealth. They don’t horde it all. These places wouldn’t exist on a map without the opportunity afforded by corporate wealth creation. Literally.
The idea that the corporations and rich horde all the wealth is absurd. Try moving to an ultra remote corner of the United States. Are there any good living standards and jobs there without large corporate presence? Or try another country that the Fortune 500s or global 1000 even refuse to touch. Do the people have more wealth there? Nope.
Last edited by Thatsright19; 06-11-2018 at 04:45 AM..
All of the great jobs I’ve had in my career were because I worked for a company that was literally created from scratch at one point. The original owners became billionaires. These companies have provided for generations of people’s families to live well. They created powerhouse products and brands that people wanted. Perfected or invented new ideas.
Corporations drive tons of value for stakeholders not just the shareholders. Entire towns and huge metro areas that I have lived in are because of large corporations and the vision of their founder. Corporations create wealth. They don’t horde it all. These places wouldn’t exist on a map without the opportunity afforded by corporate wealth creation. Literally.
The idea that the corporations and rich horde all the wealth is absurd. Try moving to an ultra remote corner of the United States. Are there any good living standards and jobs there without large corporate presence? Or try another country that the Fortune 500s or global 1000 even refuse to touch. Do the people have more wealth there? Nope.
I don't disagree with you. But what has been happening is that the rich and many corps are finding better use for their retained money/earnings through more passive investments. Versus putting that money back into expanding their business, creating more useful jobs or raising wages.
The use of the capital itself to make more money has become much easier. Stock buy backs has been a big one.
The idea that the corporations and rich horde all the wealth is absurd. .
It's not at all, they get tax breaks to keep more money and then outsource jobs to other countries, these are not charities, they don't pay some people well as a gift, they do that so they can pay off the politicians to make more billions because they are addicted to greed like the Koch brothers.
I would have had all these things 15 years ago (and some of them 60 years ago). The economy has grown since then - has my standard of living grown with it? No.
Trickle down economics does not work. Cutting taxes for rich people does not make people lower on the socioeconomic ladder any better off.
And raising taxes on 'rich people' does not make people lower on the socioeconomic ladder any better off either
Quote:
Originally Posted by Storm Eagle
I am pretty sure people are talking about taxing people much richer then you people who make at least 5 million a year. Even if they were talking about you so you lose $800-850K you still have what $700-800k which makes you still very wealthy compared to most Americans. There is always talk about workers responsibility what about company responsibilities to actually pay a decent wage, give decent hours, treat employees with respect. If all those things happened then people would not be attacking businesses. If businesses have the right to fight for what they want then workers also have the right to fight for what they want.
Seriously? Are you sure about that?
FYI an after tax income of $800,000 any place on earth makes you wealthy.
According to the global rich list, that will put you in the top 0.01%. That is the top one hundredth percent!
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