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Everyone should quit their jobs, so that the rent seeking exploitative class no longer make their cash (sitting on their butts) off the backs of those actually doing the work, while bleeding those same workers dry and giving them barely enough to survive. It's modern day feudalism created by vulture capitalism. Capitalism needs balance and clearly, the trickle down theory over the past 40 years is not working for the many, but only the few and something has to give before there is an out and out revolution.
Not only is his math bad, but what he doesn't understand is that in his fantasy world where if every person in this country got $1 million, then the value of the currency quickly crashes and inflation would be out of control. $1 million would suddenly and essentially be the new $10 because everyone has it. In other words, its buying power would crash.
Of course, these principles are central to the concepts of inflation and currency valuations. If you give everyone the same amount of money at the same time, in a perfectly efficient market you have given them exactly nothing. Of course if they stagger the handout, you want to be the first to buy a million dollars worth of gold and buy even more on credit before that money is worthless and the seller is left holding the bag.
Economics is typically a zero sum game, for every winner you have a loser, unless you have growth at the macro level which is what you need for the economy to "get ahead". But everyone can't "get ahead" because there would be literally nobody to get ahead of.
Everyone should quit their jobs, so that the rent seeking exploitative class no longer make their cash (sitting on their butts) off the backs of those actually doing the work, while bleeding those same workers dry and giving them barely enough to survive. It's modern day feudalism created by vulture capitalism. Capitalism needs balance and clearly, the trickle down theory over the past 40 years is not working for the many, but only the few and something has to give before there is an out and out revolution.
Um...
I work. I own a 3 family home. I live in 1 unit, rent 1 unit, and 1 unit needs renovation that I cant afford. The one unit that I rent is going for less than half its value on the open rental market for reasons that I wont get into.
Anyone who owns a home in the five boros, whether they rent anything or not, just got an increase in their property assessment of around 100K +/- at the very least. This translates into an increase in property tax.
I can agree with much of what you say however, I have a hard time reconciling that Im working to pay property taxes and supposed to be feeling like a vulture capitalist - sorry.
That said, if all structures have received these same increases in assessed value and tax it could explain why, and where some of the money in the OP is coming from. I guess I never realized how tax happy Dems are before now.
I work. I own a 3 family home. I live in 1 unit, rent 1 unit, and 1 unit needs renovation that I cant afford. The one unit that I rent is going for less than half its value on the open rental market for reasons that I wont get into.
Anyone who owns a home in the five boros, whether they rent anything or not, just got an increase in their property assessment of around 100K +/- at the very least. This translates into an increase in property tax.
I can agree with much of what you say however, I have a hard time reconciling that Im working to pay property taxes and supposed to be feeling like a vulture capitalist - sorry.
That said, if all structures have received these same increases in assessed value and tax it could explain why, and where some of the money in the OP is coming from. I guess I never realized how tax happy Dems are before now.
I work. I own a 3 family home. I live in 1 unit, rent 1 unit, and 1 unit needs renovation that I cant afford. The one unit that I rent is going for less than half its value on the open rental market for reasons that I wont get into.
Anyone who owns a home in the five boros, whether they rent anything or not, just got an increase in their property assessment of around 100K +/- at the very least. This translates into an increase in property tax.
I can agree with much of what you say however, I have a hard time reconciling that Im working to pay property taxes and supposed to be feeling like a vulture capitalist - sorry.
That said, if all structures have received these same increases in assessed value and tax it could explain why, and where some of the money in the OP is coming from. I guess I never realized how tax happy Dems are before now.
Anyone who owns a home in the five boros, whether they rent anything or not, just got an increase in their property assessment of around 100K +/- at the very least. This translates into an increase in property tax.
Hubs and I closed on a multi-family in Baychester last October. While our property assessment did go up, it was not anywhere NEAR 100k...
I guess Ignorance is bliss since your long winded statement clearly indicates you do not know what rent-seeking means. I also set up a trap and I knew one of these CD people would have a knee-jerk reaction and respond as you did.
"Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political"
You have a job. In almost all models of employment in this country, someone else is profiting off of the fruits of your labor which means someone else is making money off of your labor while sitting on their butt. Now there is nothing inherently wrong with that, if someone is taking a risk with their capital, and if the fruits of labor are distributed equitably. But in the past 40 years, productivity has increased, profits have increased, and labor remains flat. The pie is bigger, but the portion of those doing the productive work, has in essence shrunk. If a laborer gets 1/4 of the pie, but the pie becomes larger because they were more productive, they should be benefiting proportionally to those productivity increases. Instead the pie got bigger their slice didn't remain proportionally the same. If it did, their incomes would have risen. (All boats would have risen.) Incomes would not have remained stagnant for the past 40 years. Instead, their portion of the pie actually got smaller, and their incomes were flat while the overall pie got bigger, due to their labor, their productivity.
I believe in merit. I don't believe in stealing other people's productivity and then pretending its because they work harder, or are more clever, when they aren't.
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