[lvmensch]

Originally Posted by EA

Yang said he wants to give every adult 1,000 a month.
That means he wants to take 1,000 a month PLUS administration costs from people, in order to give it back to people.

You CAN NOT take money from people and give them less back and then have them be further ahead. It's mathematically impossible.

If I take 12,000 dollars from you and give you back 8,000 are you further ahead now?

The median income guy gets the sum and it is then taken back. Costs him nothing. The 1% top taxpayer get the sum and 5 times the sum taken back.

It is called progressive taxation and is well established in American taxation.

[EA]

[EA]

For real. Let's not forget that this plan is nearly the cost of the ENTIRE US Federal budget. That means we'd need to take TWICE the taxes we currently take to make it work.

[Svoboda]

Is it really imagination? Or is this just discarded because it came from Soros?

"We are writing to call on all candidates for President, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest 1/10 of the richest 1% of Americans — on us. The next dollar of new tax revenue should come from the most financially fortunate, not from middle-income and lower-income Americans."

https://www.npr.org/2019/06/28/73699...to-draw-a-line

https://medium.com/@letterforawealth...e-6eb3a548b2fe

The math from their plan:

"Soros and the other signatories claim that a tax of 2 cents on the dollar on assets over $50 million, and an additional tax of 1 cent on the dollar on assets over $1 billion, could generate $3 trillion in tax revenue over ten years."

https://www.forbes.com/sites/davidda.../#367c33671ce7

So if this was done, it would also have a cascading effect by freeing up funds that are currently earmarked for various programs and allow more to go elsewhere, no?

[EA]

Why are we taking any money from anyone? Why the goddamn f$%& are we punishing the successful and rewarding the dumb?

[lvmensch]

Originally Posted by EA

For real. Let's not forget that this plan is nearly the cost of the ENTIRE US Federal budget. That means we'd need to take TWICE the taxes we currently take to make it work.

Nonsense. Set up right it costs little. You increase taxes so that they offset the payments. The government income and payments increase by the same amount. The US gross income of around 22 trillion will not even notice.

[EA]

I get that Yang wants to cut some of the social programs. but let's be real. That's not going to happen. Democrats depend on losers that can't make it.
The Federal budget has been growing my entire life and it's not going to stop any time soon.


Set up right? By our incompetent government? LMMFAO

[lvmensch]

Originally Posted by EA

I get that Yang wants to cut some of the social programs. but let's be real. That's not going to happen. Democrats depend on losers that can't make it.
The Federal budget has been growing my entire life and it's not going to stop any time soon.


Set up right? By our incompetent government? LMMFAO

Of course you cut the social programs. Not entirely but mostly. That is the point of guaranteed income.

Actually the deficit is one of Trump's big failures. You do not increase the deficit with a booming economy. But it appears the right is OK with that if it cuts taxes for the well off.

Medicare works pretty well. As does SS. Have had no problems with either.

[EA]

Originally Posted by lvmensch

Of course you cut the social programs. Not entirely but mostly. That is the point of guaranteed income.

I know the point, but I also know that it will never happen.

Originally Posted by lvmensch

Actually the deficit is one of Trump's big failures. You do not increase the deficit with a booming economy. But it appears the right is OK with that if it cuts taxes for the well off.

Has absolutely nothing to do with tax cuts. Has to do with spending too damn much money.
A wall. Overbloated military. Social programs. Foreign aid. State aid. Etc etc etc.

Originally Posted by lvmensch

Medicare works pretty well. As does SS. Have had no problems with either.

Except that medicare is one of the main reasons healthcare is so expensive. They don't cover a lot of things. The out of pocket expense is high. I opted out of that crap. Form 4029.
SS is equally as crap.
If you took your SS withholdings and invested them yourself you'd have WAY more money in retirement.

[lvmensch]

Originally Posted by EA

I know the point, but I also know that it will never happen.






Has absolutely nothing to do with tax cuts. Has to do with spending too damn much money.
A wall. Overbloated military. Social programs. Foreign aid. State aid. Etc etc etc.







Except that medicare is one of the main reasons healthcare is so expensive. They don't cover a lot of things. The out of pocket expense is high. I opted out of that crap. Form 4029.
SS is equally as crap.
If you took your SS withholdings and invested them yourself you'd have WAY more money in retirement.

The question is the ability to run the program. I certainly wish medicare did not exist. When I joined Medicare it was the first time in my life I actually paid a medical fee of any sort. Ahd I had a fine plan from my ex employer that would have continued if not for Medicare. Now we pay about a grand a month. However the point remains...Medicare works just fine and quite smoothly.

And again SS works fine. The return is a fair issue. But the operation is fine.

First principle of good government economics. You lower the debt when times are good. The question of the size of the government is a different issue. And what is a good program tends to depend on whose ox is getting gored.