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I beg to differ. It is not always a fantasy. Two of my cousins are millionaires. All of my family are comfortable but they made much more of an effort than the rest of us.
These days own 2 homes and have a funded 401K and you're a "millionaire".
Just because your "solution" sucks does not mean we don't have a problem.
I wonder why the job market is flat? Maybe because of over regulation, poor trade policies and an unpredictable government where the president just gets to pick and choose which laws to enforce at his whim, just off of the top of my head. Nope, can't be any of these things, we should just confiscate money from the "rich" and give it to someone else, because that is "fair".
Nope. The job market is flat because you, Mr. Worker have done a fabulous job of being incredibly efficient both through your own industriousness and automation so we only need one of you to do the job three people did 30 years ago. And a lot of low skill manufacturing has been offshored because that middle class lifestyle of yours requires a wage that cuts into corporate profits. Frankly you should be making a much higher wage because of your increased efficiency, but we've found that it's more effective to create wealth for our largest shareholders through trading of shares and cost cutting than actually making or selling something beyond the minimum necessary. And just you wait until 75% of your job tasks are replaced by a robot... We'll we can probably pay you half what you make now because there will be 10 other people in your same shoes just happy to compete for what few jobs are out there.
And I only get taxed at 15% for that investment income. What motivation is there to put that money back into the company. Sure, wages and operating expenses are deductible, but why bother when I can get that 15% down to less than 10% by donating a lot of that income into my non-profit organization and other less on the board means.
No one is going to not try to make a profit because of higher income tax rates. In fact, rates higher than the our would likely spur investment and new job creation. It's not as if Germany, Sweden, Netherlands, etc... aren't turning out millionaires these days.
Nope. The job market is flat because you, Mr. Worker have done a fabulous job of being incredibly efficient both through your own industriousness and automation so we only need one of you to do the job three people did 30 years ago. And a lot of low skill manufacturing has been offshored because that middle class lifestyle of yours requires a wage that cuts into corporate profits. Frankly you should be making a much higher wage because of your increased efficiency, but we've found that it's more effective to create wealth for our largest shareholders through trading of shares and cost cutting than actually making or selling something beyond the minimum necessary. And just you wait until your job tasks are 75% replaced by a robot... We'll we can probably pay you half what you make now because there will be 10 other people in your same shoes just happy to compete for what few jobs are out there.
And I only get taxed at 15% for that investment income. What motivation is there to put that money back into the company. Sure, wages and operating expenses are deductible, but why bother when I can get that 15% down to less than 10% by donating a lot of that income into my wife's non-profit. Sure her salary takes up most of their operating expenses, but she's worth it!
The motivation is to reinvest to make even more money. You get the hire more people and they get money and the cycle continues.
The motivation is to reinvest to make even more money. You get the hire more people and they get money and the cycle continues.
Well that is happening but it's not happening in the US.
It's happening in the emerging countries that have a blossoming middle class with no debt.
Fresh meat as they say. And very low start up costs on the business side.
The motivation is to reinvest to make even more money. You get the hire more people and they get money and the cycle continues.
There's no motivation when my current income is likely more than what I'd make by reinvesting, retooling, hiring, etc... I can invest in emerging markets, hire someone at a 10th of what it costs to hire an American worker, raise my stock price, and go about my day without having creating a thing of value for this country beyond a cheap nick-knack, green fees for my country club, and a commission for my broker.
There's no motivation when my current income is likely more than what I'd make by reinvesting, retooling, hiring, etc... I can invest in emerging markets, hire someone at a 10th of what it costs to hire an American worker, raise my stock price, and go about my day without having creating a thing of value for this country beyond a cheap nick-knack, green fees for my country club, and a commission for my broker.
That is why I mentioned poor trade treaties, such as nafta that have exported the middle class.
I'd like to know who does not have the "ladders of opportunity"?
Funny how the left want's the same outcome for everyone...
Your answer is the large majority of Americans these days have no opportunity. Otherwise they might have seen thir real incomes increase like the GDP has increased since 1980. Unfortunately they haven't. The very very small 0.1% of Americans (Those high net worth individuals who don't rely on earned income) have set things up with largely Conservatives help to capture all of that growth mostrly due to technology which is helping cut business overhead otherwise known as payroll.
Why do you think that America's automaters make virtually the same number of cars and much better ones at that today as they did in 1970 but only need 350,000 workers not the 3.0 million they employed in 1970. It a great way to run a Capitalist economy but it does tend to throw a lot of people by the way side. Why waste all that wealth by letting nearly 330 million Americans have a shot at at and have to compete with all those people. The rich use their wealth like the Koch Bros. to defend their privilege and to kill off anyone dumb enough to believe they are fellow Americans. They are not. Capitalism is a wealth concentrating system and it hates competition which might force our wealth to spend money and take risk. How stupid would that be of them.
That is why I mentioned poor trade treaties, such as nafta that have exported the middle class.
Water under the bridge. Those jobs are never coming back..NEVER.
And government isn't going to come to your rescue, especially Hillary.
She's a globalist so watch even more leave the shores.
And what's left here will be taken by the new W-Visa people once amnesty passes.
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