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Old 08-19-2018, 11:12 AM
 
Location: In a city within a state where politicians come to get their PHDs in Corruption
2,907 posts, read 2,060,858 times
Reputation: 4478

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Quote:
Originally Posted by fishbrains View Post
Ok. On this one I completely agree with you. Our system is skewed to reward capital to an excessive amount. Our legal and tax structure is essentially a trickle-up economy, and the wealth disparity we have is not fair, nor is it likely to be sustainable in the long term.

I differ with you on many details, and I think you do not fully consider options, preferring a radical revolutionary approach rather than a methodical, sustainable approach.

For myself, I would like to see a complete restructure of our tax system. Capital gains need to be taxed at the same rate as earnings, perhaps at a higher rate. Corporations operating in the US need to file earnings reports for all earnings, or losses, as a result of domestic operations and pay taxes accordingly. No hiding money in tax havens. We need to develop a reasonable social safety net. Health insurance for all, not connected to your employer. A reasonable minimum wage and vacation benefits. A national minimum pension plan that is transferable from company to company, but can be augmented by employers at a higher than minim7m rate. The restoration of unions. The legal system is messed up as well, but I don’t really know how to begin to fix that. Corporations aren’t people, and should not have unlimited political donations. Business laws should apply on a national basis, not on a state by state basis. No more race to the bottom on corporate tax incentives and environmental waivers.
Why would we want to tax investment higher? Investment is disproportionately responsible for growth and therefore job creation. Not all income earned is equal.
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Old 08-19-2018, 11:24 AM
 
5,985 posts, read 2,905,911 times
Reputation: 9026
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Originally Posted by tolovefromANFIELD View Post
Why would we want to tax investment higher? Investment is disproportionately responsible for growth and therefore job creation. Not all income earned is equal.
Additionally, it would drive investments out of the US.
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Old 08-19-2018, 11:46 AM
 
13,011 posts, read 13,002,641 times
Reputation: 21913
Quote:
Originally Posted by tolovefromANFIELD View Post
Why would we want to tax investment higher? Investment is disproportionately responsible for growth and therefore job creation. Not all income earned is equal.
Quote:
Originally Posted by Lekrii View Post
Additionally, it would drive investments out of the US.
I did say "perhaps at a higher rate", not necessarily at a higher rate.

Yes, capital investment is necessary for growth and job creation. I concede that point without reservation. My point is that we have sufficient capital available for necessary investment, and we have a fair bit of excess capital.

Look at the major tech companies. They are sitting on billions of reserves. Look at what happened when the Trump corporate tax cut was passed. A very few companies issued trivial bonuses, most companies engaged in stock buyback programs. This isn't investment, this is consolidation of ownership and doesn't help our economy or workers.

If the US is worth investing in, companies will do it. Perhaps they won't make quite as much money if capital gains taxes are higher than current rates, but as long as we have adequate capital funding it should not hurt the economy.
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Old 08-19-2018, 12:02 PM
 
Location: In the Redwoods
30,286 posts, read 51,833,691 times
Reputation: 23660
Quote:
Originally Posted by treemoni View Post
This is such a stereotype. There are a lot of ways to make money independently that don't involve arts and crafts.
I actually started an Etsy store, when people kept asking to buy the necklaces I make (from old books). And recently I discovered that it was featured on another website! But since I also have a full-time job, I don't have time to keep it that well-stocked; so I've probably only made a couple hundred dollars off it this past year. Fun hobby, but not much of a business unless you're doing something amazing & large-scale.
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Old 08-19-2018, 12:07 PM
 
Location: In the Redwoods
30,286 posts, read 51,833,691 times
Reputation: 23660
Quote:
Originally Posted by LuvsCruisin View Post
Nope... but I do make more than those working McJobs. It's pretty easy to work 100 hours in a week when you make $50+ in OT.
No offense, but I wouldn't work 100 hours/week for only $120K (what you said your gross pay totals) annually... do you even have time for life?
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Old 08-19-2018, 12:12 PM
 
5,985 posts, read 2,905,911 times
Reputation: 9026
Quote:
Originally Posted by fishbrains View Post
Look at the major tech companies. They are sitting on billions of reserves. Look at what happened when the Trump corporate tax cut was passed. A very few companies issued trivial bonuses, most companies engaged in stock buyback programs. This isn't investment, this is consolidation of ownership and doesn't help our economy or workers.
That's more due to uncertainty that Trump's policies will last more than anything. There is no confidence that current policies will be around. Uncertainty leads people to sitting on cash.
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Old 08-19-2018, 12:15 PM
 
Location: In the Redwoods
30,286 posts, read 51,833,691 times
Reputation: 23660
Quote:
Originally Posted by Rocko20 View Post
I believe those places are called “successful tech companies in Silicon Valley” where you walk in the building and it looks more like an amusement park than an office. Massive effort really went into making those working environments awesome. Problem is most people don’t have the credentials to work at these places.

The rest of us get boring depressing bare minimum open space offices and folks wonder why working becomes very mundane quickly.
Not true. And I can say that with authority, since I live in the heart of Silicon Valley. I don't work in tech, but like half of the people I encounter or know (outside of my own workplace) here do! And you don't have to be an engineer to work at Google or Facebook; they employ folks from all walks of life, and to do pretty much every job you could imagine. I even looked into librarian positions with Google, but decided I wouldn't thrive in an office environment. I prefer working directly with the public, even though we don't have the flashy perks of a high-tech company. But hey, I also don't have to worry about getting unexpectedly laid off - AND I'm already vested in an awesome pension plan. So there are trade-offs.

The issue is more our local COL, as it's hard to to survive here doing something lower-skilled/paid at those companies. Unless you have a spouse/partner making more money, or live with family members, you couldn't make it here on less than an engineer's salary.
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Old 08-19-2018, 12:39 PM
 
28,111 posts, read 63,531,084 times
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Quote:
Originally Posted by gizmo980 View Post
No offense, but I wouldn't work 100 hours/week for only $120K (what you said your gross pay totals) annually... do you even have time for life?
When I was salaried management my hourly rate was greatly diluted... especially since holiday, weekends were all fair game.

New ownership made me hourly... which has been a huge transition... but I'm still expected to do basically the same job... my paychecks have increased significantly because after never ever having Overtime in 25 years it is now on every check... even double time.

It has also helped... because when I am asked to stay or called in... I yes, but this will put me over for the week... and sometimes I'm told to never mind... which is OK too.
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Old 08-19-2018, 12:44 PM
 
Location: In the Redwoods
30,286 posts, read 51,833,691 times
Reputation: 23660
Quote:
Originally Posted by DorianRo View Post
I don't have the connections to make it happen. Nor do I have any relatives that were CEOs or owners of a certain business. I didn't come from wealth and as a biproduct can afford the best schools to go to to build an Ivy League network. . I wasn't born into wealth. I wasn't born into a savvy business family that owns things . Im not a sociopath either that will befriend you ust because of your socioeconomic status in society.
I don't think a single high-level executive (CEO/CFOs or just below) I know fits any of that criteria, so you need to stop believing the propaganda... my own father is the antithesis of these things, and made it to Senior VP of a Fortune 500 consulting firm from NOTHING. He grew up very poor, and just made it there through a combination of natural intelligence/drive, formal education, and old-fashioned hard work.

The richest man I know, who is currently worth around 2 BILLION dollars, also worked his way up from nothing with zero connections. He literally bought a vending machine in college, used the profits to buy another, then a truck full, and eventually owned like half of the property in what's now Silicon Valley. There's a reason he is so rich, and it isn't because he was born into it or handed anything on a platter; he even went to a second-rate college, ffs. I don't know any magic secret to success, but I do know that bitterness won't get you very far.
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Old 08-19-2018, 01:51 PM
 
Location: Durham, NC
2,607 posts, read 3,129,973 times
Reputation: 3594
Quote:
Originally Posted by DorianRo View Post
Too much of a risk and uncertainty associated with starting your own business. The power is out of your hands with that because it may or may not pay off. No absolutes with that. Not to mention the market is oversaturated now with damn near EVERYTHING


So unless you get a substantial business and training handed to you by a relative or something, its not the same as starting something from scratch. Most of the people I see with businesses now were handed down to them by some family member. Thats not as much of a risk. You're just inheriting something thats already running. ROFLMAO
I started a business in 2008 and folded it in 2013. I worked harder for less than any other time in my life. If I'd started a few years earlier, I might have had a chance. The market was terrible when I started and only got worse. I was fortunate to find a decent job.
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