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I can see that, mine were 73k plus some interest. After graduation and a year of job searching I got a really good job so I paid them off quickly, but thats still 73k that did not go into savings.
Of course without that education I would have had no hope of getting that job.
We had a well running system in the 40's and 50's. IF you were filthy rich and didnt reinvest your earnings/profits back into your buisness there by creating jobs you were simply taxed up to 90% and that money was used to fund govt programs to create the jobs that said buisenss owner refused to do.
Its a problem now because the corporate greed has been going on since around the time of Regan adn probably a bit before. I think that 40 years ago people would have rather worked and been productive than taken hand outs but because of tax cuts companies were no longer compelled to create jobs, they could just hoard the earnings/profits.
We are now seeing what 40 years of extreme greed looks like and a poor class that has never had any hope of getting a GOOD job. Its been going on so long that we do now in fact have a dependant class. But this phenomena was not born from hand outs, it was born from corporate greed and by slowly making finding a job like the hunger games or some kind of gladiatorial games. The competition to find a GOOD job is overwhelming, far beyond any normal healthy level of competition and almost the economic equivalent of barbarians trying to brutally kill each other for survival.
We could turn this around over night but implementing the same tax strategy as back then (90% on ALL profits, dividends, C level exec wages, etc, etc over a certian amount), putting strategic tarrifs on all nations with cheap labor forces and cutting immigration to the level of switzerland.
If these 3 things happened simultaniously our economy would be fixed. People who wanted well paying, dignified, meaningful work would have it and only the most lazy would be homeless. Corporate elites would have no where to run to, go to China and then eat the import tax on the back end, hire unapproved immigrants in a swiss like immigration system go to jail (real jail time, several years, send a message), hoard the money and it just get taxed away.
You would also have to have a VERY hefty one time wealth tax on everyone with a net worth over a certain amount to set right the last 60-70 years of shenanigans, it would have to be steep too, something like 50-60% so that the elites could not perpetuate their influence through lobbying through the generations.
We would be a thriving nation again, but it would hurt the elites money bin hoard and lobby power.
Rome was the exact same situation, the elites had slaves to do their work so Roman citizens were unemployed, they needed the hand outs because they could not compete with slave labor (today we dont have slave labor per say
Globalism changed all the rules. Tax like your good old days and the rich and their businesses will relocate to other more tax friendly countries. That's the way the global economy now works. For the average American globalism has been a negative as it slowly gutted the economy.
Globalism changed all the rules. Tax like your good old days and the rich and their businesses will relocate to other more tax friendly countries. That's the way the global economy now works. For the average American globalism has been a negative as it slowly gutted the economy.
Thats what exit taxes are for, most first world european nations have even higher taxes and more worker protections. So they could go to china and live there, who will they trade with, indonisa maybe .... are you getting the picture yet?
Also once the rich leave they are now subject to US military action if they do something against our interests. Taxes will be the least of their concerns, why would we take bribes when we can just use the military to take it all or blow it all up?
The USA IS globalism and once the voting block changes its all over.
Oh and btw, we can prevent their buisensses from going with them, they are certianly free to leave but their equipment, buildings etc stay here. If there is any intellecutal property (unless it was developed by the individual leaving) would constitute treason and you would be an enemy of the state for taking trade secrets over seas. The only exception being, if you were the sole inventor of said intellecutal property, then its yours.
Why? Why not go to a college for which you did not incur such debt?
Because back in the late 90's early 2000's going to a "top tier" school was a big deal, I got accepted and got a half ride. Despite the half ride it still cost me 73k, fast forward to today and no one cares, there is no way I could have predicted what is going on today with the economy and how wicked it has become.
That's why a 90% tax on profits, a hefty wealth tax, and/or a tax on dividends would be a disaster. Congress knows that, so it would never pass.
You don't know what you're talking about. I don't think you are capable of comprehending the article you posted.
So tell us, financial guru, how much of that $27 trillion is invested in stocks and other equities? Because without knowing that, your $27 trillion figure is utterly meaningless.
Hint - it's a figure that is, uh... less than $27 trillion! :-)
Quote:
Originally Posted by InformedConsent
You see... anyone who rages against "corporate profits" or "corporate greed" is actually raging at the millions of American workers/retirees who own those corporations via the $27 trillion aggregate worth of investments held in their pension/retirement accounts. It's an easy way to identify those who have no clue of which they speak.
Yes - and that is exactly what you have done. It's going to be utterly hilarious watching you try to crabskedaddle away from this one!
Thats what exit taxes are for, most first world european nations have even higher taxes and more worker protections. So they could go to china and live there, who will they trade with, indonisa maybe .... are you getting the picture yet?
Guess who PAYS for all of those European benefits? Hint: It's NOT the rich. Why not? There is not a single European country that taxes income earned anywhere other than in that country itself. Swedish billionaire Ingvar Kamprad (IKEA founder) paid not one penny of tax to Sweden for over 40 years while he amassed his billionaire wealth simply because he lived in Switzerland during that time.
Because back in the late 90's early 2000's going to a "top tier" school was a big deal, I got accepted and got a half ride. Despite the half ride it still cost me 73k, fast forward to today and no one cares, there is no way I could have predicted what is going on today with the economy and how wicked it has become.
So... You were conned and didn't have the sense to realize that taking on ~$75K in student loan debt was a bad idea.
You don't know what you're talking about. I don't think you are capable of comprehending the article you posted.
So tell us, financial guru, how much of that $27 trillion is invested in stocks and other equities? Because without knowing that, your $27 trillion figure is utterly meaningless.
Re: CalPERS...
Quote:
"With more than $170 billion in equity exposure, the California Public Employees’ Retirement System is the biggest institutional sharemarket investor in the US."
OK. Just to summarize, then... my question to you was how much of that $27 trillion was invested in stocks and other equities, and your answer to that question is that the California public employees' pension fund has $170 billion invested in equities.
Is that your way of admitting that $26.83 trillion is not invested in equities? A little clarification would be nice here.
As I said, it is immensely amusing watching you try to weasel away from admitting that you didn't even understand your own article.
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