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Unrealized capital gains aren't income. They aren't even a gain until they're realized (sold, etc.). They weren't included when analyzing the income gap.
Yes, it had a massive effect. The top 0.01% benefited massively as CEOs and other big wigs as a result of the stock market boom.
When the democrats proposed a $15 minimum wage they were asked how much it would save in food stamps and AFDC and Section 8 housing etc. The answer: $0.
Who are "they"? Just drop this nonsense trying to pin me to Obama or Clinton. I never voted for them. I support everyone becoming ordinary tax payers, no means testing, universal taxes with universal benefits, less room for the demagogues to rile up the middle class against taxes and the poor.
The largest public unions left are government employees. The same government you claim is controlled by the ruling class. Very interesting.
I dont claim that the big money ruling class controls the political system. Thats a fact. Studies show that the opinion of the big majority of the population has zero influence on public policy. We live in an oligarchy.
And there is a clear link between decline of unions and more oligarchy. The link is extremely strong.
Who are "they"? Just drop this nonsense trying to pin me to Obama or Clinton. I never voted for them. I support everyone becoming ordinary tax payers, no means testing, universal taxes with universal benefits, less room for the demagogues to rile up the middle class against taxes and the poor.
I dont claim that the big money ruling class controls the political system. Thats a fact. Studies show that the opinion of the big majority of the population has zero influence on public policy. We live in an oligarchy.
And there is a clear link between decline of unions and more oligarchy. The link is extremely strong.
Ironic. The 1% pays 90% of the taxes while 47% pays zero. If you bought lunch everyday for everyone in the office I bet you'd want to decide where to eat sometime.
Want to end the oligarchy? Adopt a regressive tax system.
Switzerland is the best performing country on Earth, and most of Switzerland's laws are actually "conservative ideas." Like everyone in Switzerland having healthcare but with conservative ideas funding it, they also have low business/corporate tax rates to stimulate business, power in state governments, ex.ex.
And Switzerland has low poverty rates, and it has no welfare freeloaders. And they do it with conservative ideas of responsibility to work and state government.
But Switzerland gets added revenues from a progressive personal tax system, standard tax rates on personal income from capital gains, and the wealthy pay higher fees for things like speeding tickets.
And perhaps a $1 million dollar speeding ticket seems unfair, but is a $200 speeding ticket enough financial incentive to make Bill Gates stop speeding?
Ironic. The 1% pays 90% of the taxes while 47% pays zero. If you bought lunch everyday for everyone in the office I bet you'd want to decide where to eat sometime.
Want to end the oligarchy? Adopt a regressive tax system.
The top 1% have benefited from anti-worker trade deals, erosion of the minimum wage, deregulation of Wall Street, weakening of anti-trust legislation, crushed unions, and lower tax rates over the past 40 years. They use this increased power to flood the political system with bribe money to get even more benefits.
How is the oligarchy doing in Alabama with its highly regressive tax system? They have a flat income tax and 10% sales tax on food, groceries and other goods, most regressive in the nation. The most stereotypical oligarchies are located in Latin America, countries like Mexico, Chile etc all have much more regressive tax systems than anywhere in Europe. They have a high VAT and very low income tax rate.
You cant simply slash taxes on the rich and burden poor folks with massive tax hikes and think that it will "end oligarchy".
We've already slashed taxes massively on the rich over the past decades and crushed unions. The end result is of course MORE oligarchy, as designed.
The answer to oligarchy is to fight to get big money out of politics and massively strengthen the trade union movement. To allow our democracy to be corrupted by oligarchs is a disgrace.
Switzerland is the best performing country on Earth, and most of Switzerland's laws are actually "conservative ideas." Like everyone in Switzerland having healthcare but with conservative ideas funding it, they also have super low business/corporate tax rates to stimulate business, power in state governments, ex.ex.
And Switzerland has low poverty rates, and it has no welfare freeloaders. And they do it with conservative ideas of responsibility to work and state government.
But Switzerland has a progressive personal tax system, they tax personal income from capital gains at standard income rates, and they make the wealthy pay higher fees for things like speeding tickets.
Pelosi? The woman who doesnt even support Medicare-for-all? She is swimming in donor class money. Just like all the GOP puppets. These people dont represent ordinary Americans. They are lackeys for the ruling class, spending 40 hours a week dialing big shots for bribe money, not governing the country. Its pathetic. They have long lists of names in their dialing booths, all members of the top 0.1%, "our" representatives call to beg for money.
There are more people in a 75 mile radius of me than in all of Switzerland, and the ocean is just over the hills.
Switzerland is like a smaller American state. But a single states policies can still be studied to show how those policies could work on a larger national scale.
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