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The money to run society has to come from somewhere. That needs to be balanced with leaving people enough incentive to want to work hard and build wealth for their families. Currently we run 500 billion to trillion dollar deficits yearly. I would think something needs to change, unless we can run debt like this in perpetuity. I'd be in favor of raising taxes on everyone with a bit more emphasis on the elderly for the express purpose of lowering the debt. I'm sorry to say, I don't have much faith that the money would actually be used for that purpose though.
You don't get elected running on a "cut the deficit through tax increases" platform. You might get elected on a "free stuff for group A financed by increased taxes on group B" platform if the numerical disparity between the two groups is large enough to overcome group B's financial and power advantages in an election.
Now that we've established that some redistribution of wealth
Huh? Wealth is relative, so let's start with your redistrubtion of wealth then. Sale your cars, vehicles, and cash out your accounts for the next the homeless person you meet.
Economy is built around coercion of those who have less. There is no way to amass those mega riches without institutionalized coercion and wage slavery. Taxing the mega rich is akin to taxing the rapists. Yes, you can get a portion of money back (for a short time until they take it all back and more) but the damage it takes to accumulate mega riches remains.
Huh? Wealth is relative, so let's start with your redistrubtion of wealth then. Sale your cars, vehicles, and cash out your accounts for the next the homeless person you meet.
Thank you for your part in wealth redistribution.
Silly analogy. How much redistribution it would take for a top 1% to fear about having food on the table? If I lose my car that fear sets in immidiately. What loss does it take for a 1% er to experience similar worries?
Last edited by RememberMee; 02-10-2019 at 05:39 AM..
If all the wealthy in usa were stripped naked of their wealth today -congress could spend it in 8 months
Google it
and in the next 8 months the stripped naked rich would get all that money back and more. All the money government spends ends up somewhere and we know it is not swiss accounts of trailer park residents.
Silly analogy. How much redistribution it would take for a top 1% to fear about having food on the table? If I lose my car that fear sets in immidiately. What loss does it take for a 1% er to experience similar worries?
You are locked into a hard left mindset that has clearly blinded you to reality. "Wage slavery" what a joke.
If your wages are lower than you'd like learn a new skill or earn more knowledge through schooling or take a risk.
You are free to live an incomplete life denying personal responsibility for your failings by selling the notion you are being ripped off or you can change your lot.
You kind of actually hit on the chief problem, that of perception. People assume that those with that kind of money are living Scrooge McDuck or Richie Rich kinds of existences. You know, swimming pools filled with ten-dollar bills, stacks of money in the living room, and gold-plated plumbing fixtures. These people don't understand the nature of wealth.
What they don't realize is that the money for almost all those people isn't sitting fallow in a checking account. It's in assets that would have to be sold to pay for their utopian ideas of taxation. In the meantime, that money is fueling enterprises that create jobs and wealth and tax revenue.
I have one friend who is a chemistry professor. Smart guy. But his understanding of money and wealth is just comic. He simply cannot understand why taxing assets wouldn't be a good thing. But, then again, he's not really interested in learning because, at the bottom of it all, the entire basis of his belief system is barely-disguised envy. He uses noble language to justify confiscating money from those who have more than him. It's just transparent as hell.
I mean, we're not billionaires, but we have done okay. Our money is largely in commercial real estate. We get, on average, a nice 8% return on our investment, as well as quarterly dividends. But the very large majority of our money is locked away in assets that we cannot readily get to.
If some nitwit ever got their hands on the levers of power, advocating as much, we would simply sell everything we had before the new laws took effect and leave the country. Because we worked very hard to amass what we have. We scrimped, saved, made sacrifices, and took risks. We sometimes lived hand-to-mouth because we didn't know where the next dollar was coming from. To this day, we live a pretty minimalist life. We drive a Honda CRV and a Toyota Camry. We sold our very nice house in a posh suburb and moved into a 1400 sf condo. And yet, because through a combination of hard work, shrewd timing, and a little bit of good fortune, some halfwit thinks we don't deserve what we have? Screw them.
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