Trickle-down economics a con game inflicted on poor whites by one percenters? (ethic, how much)
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It's the GOP that does this? How are the Democrats explaining NAFTA and all the outsourcing that took place on their watch? How do they explain that to union people who have supported them for 30+ years?
I remember when NAFTA was promoted and eventually signed. Personally I had grave misgivings about it but some of the arguments were persuasive.
First of all we have a Free Enterprise system which means that businesses can generally do what they want with their own investment money, and at that time many jobs were starting to go to Asia.
Some people thought that it would be better if at least if some of this trade stayed in North America, and strengthened our neighbors and the business could eventually be reciprocal as wages and buying power in Mexico improved. It was argued that a healthier economy in North America (vs Asia) was good for everyone. This is how the pact was promoted by the American business community. The US Chamber of Commerce (full of Republicans then and now) continues to defend it.
The negotiations were begun under George Bush, or possibly earlier under Ronald Reagan (not sure). Bill Clinton was a moderate 'southern' Democrat and he supported it.
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In the House, NAFTA passed 234-200; 132 Republicans and 102 Democrats voted in favor of it. The Senate approved NAFTA 61-38, with the backing of 34 Republicans and 27 Democrats.
I never knew that communist countries said those things about rich people.
You only need to listen to the Democrat party. They speak exactly the same way as the communists. Proletariats v.s. capitalists, rich v.s. poor, income equality, how the rich exploit the poor, how the rich don't pay their "fair share," freedom of speech of the only speech I like.
America's democrats do not hate rich people. Most of America's democrat politicians are multimillionaires, and billionaires like Warren Buffet are highly respected by democrats (so much that democrats name laws after them.)
The democrats main problem with wealthy people is millionaire/billionaire CEO's who pay lower tax rates than many middle class Americans. And these billionaire CEO's got their low tax rates because of the campaign money they give republican politicians. And these millionaire/billionaire CEO's pay 14%-17% tax rates.
I consider Buffett a liberal hack, even though he's a financial genius. If he really thinks his tax rate is too low, why doesn't he write a fat check to IRS?
A portion of the communists were from rich families or were rich themselves. They actually abandoned their riches and joined the communist movement. After the communist win, they all ended up being executed without trials by the true worker class people, aka, the poor, because of their "association with the capitalists."
Suit them well and may they rot in hell!
The American leftists are all talk but no action.
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Originally Posted by chad3
My cousin and his wife are worth $50 million dollars. My cousin is a medical doctor/businessman and he has mining. rental property, and offshore shipping businesses. And my cousin creates many jobs in multiple areas, but my cousin suffers more from republican tax policies than any other group of Americans.
My cousin is not a CEO and he is in a 39% tax bracket (while the CEO's who finance republican politicians are in a 15%-20% capital gains income tax bracket.)
And other Americans like NFL football players have 49% tax rates (but you never see republicans offended by our NFL players paying 49% tax rates, instead republicans defend and protect our CEO's low tax rates.) https://smartasset.com/taxes/NFL-jock-taxes
Republicans do not talk about or enact tax policies that are fair to all Americans. Instead they desire tax policies created by corporate think tanks, and these corporate created tax policies do not take into account things like fairness, government revenues, or our deficits and debt growth (these tax policies only desire lower corporate and CEO tax rates.)
CEO does NOT get any more tax breaks than your cousin or an athlete. CEO is an employee just like me.
Most rich people don't pay much taxes because they don't have much income or their income is from long term investment such as capital gain. My old boss, a CEO of a multi-million dollar company, only pays himself $150,000 a year, but he owns over 30 million asset in the company and $15 million debt. I am sure he pays less tax than I do.
Capital gain is a high risk investment available to everybody. Why don't poor people buy a few hundred dollars of stocks and see how far they can make it?
You only need to listen to the Democrat party. They speak exactly the same way as the communists. Proletariats v.s. capitalists, rich v.s. poor, income equality, how the rich exploit the poor, how the rich don't pay their "fair share," freedom of speech of the only speech I like.
It really gives me a nauseating nostalgia.
I consider Buffett a liberal hack, even though he's a financial genius. If he really thinks his tax rate is too low, why doesn't he write a fat check to IRS?
A portion of the communists were from rich families or were rich themselves. They actually abandoned their riches and joined the communist movement.
The American leftists are all talk but no action.
CEO does NOT get any more tax breaks than your cousin or an athlete. CEO is an employee just like me.
Most rich people don't pay much taxes because they don't have much income or their income is from long term investment such as capital gain. My old boss, a CEO of a multi-million dollar company, only pays himself $150,000 a year, but he owns over 30 million asset in the company and $15 million debt. I am sure he pays less tax than I do.
Capital gain is a high risk investment available to everybody. Why don't poor people buy a few hundred dollars of stocks and see how far they can make it?
Because it takes money to make money the stock market is a rich person's game. You need to have at least 50k of disposable income laying around before the average person is going to make squat off of the stock market. Most people need 50k to put towards a house they can't put it towards the stock market.
It's very easy to make money in the stock market if you already have the cash. Any mental midget can do it with some analysis skills and research. If I actually had the desire to do it I would be a financial advisor and probably get rich doing that but I don't want to deal with people on every minute of the day and have to sell myself like a salesman.
Rich people are everything that's wrong with this country and that's why the income inequality is where it's at now.
Why does Switzerland have a lot of rich people but also still has a much better middle class than the US? All at the same time.
Because it takes money to make money the stock market is a rich person's game. You need to have at least 50k of disposable income laying around before the average person is going to make squat off of the stock market. Most people need 50k to put towards a house they can't put it towards the stock market.
It's very easy to make money in the stock market if you already have the cash. Any mental midget can do it with some analysis skills and research. If I actually had the desire to do it I would be a financial advisor and probably get rich doing that but I don't want to deal with people on every minute of the day and have to sell myself like a salesman.
Rich people are everything that's wrong with this country and that's why the income inequality is where it's at now.
Why does Switzerland have a lot of rich people but also still has a much better middle class than the US? All at the same time.
What you said is factually and verifiably wrong. Stock market is NOT a rich people's game. Rich people have lost more money in stock market than anybody else combined!
Look at the companies I posted. None of them started as rich people. Steve Jobs was closer to a street bum than anything. Warren Buffett was not rich at all. He was able to persuade a few investors to help him start.
Also 90% of rich people lose their wealth in 3 generations.
What you said is factually and verifiably wrong. Stock market is NOT a rich people's game. Rich people have lost more money in stock market than anybody else combined!
Look at the companies I posted. None of them started as rich people. Steve Jobs was closer to a street bum than anything. Warren Buffett was not rich at all. He was able to persuade a few investors to help him start.
Also 90% of rich people lose their wealth in 3 generations.
So many things here need to be addressed
Look up carried interest. There's a reason guys who make 50MM a year pay so little in taxes, and it's not available to you and me. Also a guy with 20mm in investments will benefit much more from capital gains than a poor person. A person with a cpl hundred bucks instocks can't live off dividends and capital gains but a rich person can so they benefit from the lower taxes exponentially more.
I see no facts or support for any claims you make above about 90% of rich people losing wealth, not that it has anything to do with the subject. Also rich people may lose more in the market than poor people although I'd still like to see proof of this but it would only be because they have more to invest in yet first place. And there are tons of other investments available to he wealthy l taxes much lower than a middle class income, private partnerships, lp, etc...
Look up carried interest. There's a reason guys who make 50MM a year pay so little in taxes, and it's not available to you and me. Also a guy with 20mm in investments will benefit much more from capital gains than a poor person. A person with a cpl hundred bucks instocks can't live off dividends and capital gains but a rich person can so they benefit from the lower taxes exponentially more.
I see no facts or support for any claims you make above about 90% of rich people losing wealth, not that it has anything to do with the subject. Also rich people may lose more in the market than poor people although I'd still like to see proof of this but it would only be because they have more to invest in yet first place. And there are tons of other investments available to he wealthy l taxes much lower than a middle class income, private partnerships, lp, etc...
What you said is factually and verifiably wrong. Stock market is NOT a rich people's game. Rich people have lost more money in stock market than anybody else combined!
Look at the companies I posted. None of them started as rich people. Steve Jobs was closer to a street bum than anything. Warren Buffett was not rich at all. He was able to persuade a few investors to help him start.
Also 90% of rich people lose their wealth in 3 generations.
Aren't you the same guy that says only rich people build companies?
Very few people will ever make a cent off of the stock market without tens of thousands of dollars laying around. Mutual funds don't count that's different I'm talking day to day trading of specific stocks through Charles Schwab or what not.
Wealth is lost because the children of the wealthy people blow the money they inherit and don't have the same ethics that their parents did.
Anyone that inherits money should be a millionaire by the time they retire they're a moron otherwise sorry.
Because it takes money to make money the stock market is a rich person's game.
Nothing could be further from the truth. Guess who the largest equity investor in the US is?...
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