Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
This is why socialism is authoritarian and repressive. The state controlling the lives of people, see bold above.
BUt, there is more. This would lead to mediocrity and low productivity. Why work hard? Why be more creative? If you are limited in income. Who would be the innovators?
It is easy to see there are some people who believe that anyone can earn unlimited sums of money. I agree, but what I disagree with is how they earn that money.
Consider a low wage earner. i.e., a walmart worker, $11.50/hr, limited to 28 hours therefore no medical coverage or other benefits. Many must work two or even three of these rip-off jobs just to support their families. Many of these folks don't make enough money to have a bank account or if they do they must pay a monthly fee. Without a bank account they need to cash their checks at check cashing agencies with outrageous fees. They can't get a credit card so when their child gets sick they are forced to go to the loan sharks like Title loan and can end up with an interest rate of 1000% annually and still lose their vehicle. Who owns the banks and loan shops? You guest it, it's big money.
With companies like Walmart ripping employees off I believe the government should tax Walmart a sum that would bring their employees up to the local income standard. BTW, many of these low paid workers everywhere are getting government benefit like food stamps at your expense. That's right, they are getting help from the government like food stamps, Medicaid, etc., all paid for with your taxes. While you think these companies are entitled to all their wealth you are the ones who is paying for them to rip off their workers.
As these corporations continue to steal from their employees leaving those employees with less and less disposable income who will be buying? 2018 to date more than 6000 businesses have gone belly up. In the latest jobs report an increase in jobs was reported, but part of that report revealed that there was "0" growth in manufacturing jobs and 120,000 retail jobs lost.
How long can a capitalist society continue without spending? The crash is coming and we can all thank Comrade Trump.
Why is such a low-income earner bearing children they cannot afford to support? That's a critical financial error.
FWIW, MOST people's first work experience is in a low-wage less than 40 hours/week job. Then, as they gain experience and/or education, they begin to climb the wage ladder as they continue moving up into higher skill set jobs which pay more. I started that way with after school jobs in high school, and so did my kids. We're all educated professionals now, though I'm retired.
The problem isn't the fact there are very wealthy people. The problem is that many people don't have the drive to get that wealthy. Instead of putting in the time and work to get wealthy they would rather have someone else give them the money even though the other person was the one that did the work to get it.
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
Were do you come up with this crap? What gives anyone the right to decide what is "MORE than enough" for anyone to live "pretty comfortably"????????????????????
If you don't like our economic system, move to Cuba, China or N Korea!!!
"It would be a chain reaction" which is called "trickle down" economics, which most of the left declares does NOT exist!
They can't even imagine what it would be like if the wealthy stopped spending money and the amount of jobs that would be lost because of that. They seethe with jealousy and anger at those who have more than them. They worship on the alter of almighty government as being their savior. They can't recognize the hypocrisy of those wealthy politicians of whom they support. They think that those same politicians are gonna' come and lift them out of poverty by confiscating the wealth that was created by others while gaming the system for themselves. Career politicians such as the Clinton's and Obama's who've become filthy rich during their years of public service. Politicians such as the little communist curmudgeon from Vermont out there championing for the poor. They're against walls on the border and the 2nd Amendment, but have walls around their property and are protected by armed security 24/7. Except for becoming fat and wealthy at the public trough, how many jobs have they ever created? Why aren't they ever criticized for the amount of wealth that they have obtained? Sure the Republican politicians are just as wealthy, but they are not the one's out campaigning for wealth redistribution and fostering class envy. Why anyone would want to become a slave to greedy, power hungry, self centered politicians is beyond me?
The Democrat Party does not want people to become successful. Democrats depend on people who depend on government to sustain them for their everyday needs. They want to condemn people to a life of poverty, despair and a lifetime of dependency on a government of which they will have absolute power and control. There is no other rational reason that allows for the illegal importation of tens of millions of the world's most impoverished people into our nation. Other than to exponentially expand a burgeoning underclass to the point where the "takers" will vastly outnumber the "makers". There are not enough wealthy people to tax into oblivion to sustain such a massive socialist welfare state. Those in the middle will end up shouldering the lions share of the burden as they do now. That's where the money is.
It will get to the point where those in the middle are no better off than those that are living off of them. It will not pay to work anymore and why should they if everything will be provided for them? There will be no incentive to succeed or better yourself if our benevolent government is our sole provider. But somebody's gonna' have to work the factories, farm the fields, take care of our medical needs, provide for the common defense etc. and everything that we are accustomed to having? Forced or assigned labor at the point of a gun will be the only option that our benevolent government will have at their disposal. Obviously the 2nd Amendment and Constitutional law will have to go in order to establish an authoritarian police state. If the Democrat Party ever succeeds in its goals the United States of America will be no better than the third world hell holes that so many are fleeing from.
Quote:
"The law has been used to destroy it's own objective; It has been applied to annihilating the justice that it was supposed to maintain; to limiting and destroying rights which it's real purpose was to respect. The law has placed the collective force at the disposal of the unscrupulous who wish, without risk, to exploit the person, liberty, and property of others. It has converted plunder into a right in order to protect plunder. And it has converted lawful defense into a crime, in order to punish lawful defense." "But it is also true that a man may live and satisfy his wants by seizing and consuming the products of the labor of others. This process is the origin of plunder." --- The Law by Frederic Bastiat (1801-1850) French economist, statesman
Wealthy people hogging all the wealth is a HUGE problem, so what if say there was a limit, where they earned say 120K which is MORE than enough to live pretty comfortably, no one really needs anymore than that, and every cent they earned afterwards was taken and invested in schools, education, healthcare etc.? No one on the planet needs huge fancy Yachts, dozens of sports cars, huge mansions etc. etc. all the money greedy wealthy people waste on such garbage would be far better spent on helping poor people, helping sick people and the like.
Get a job in sales where you are paid commission. You will have 100% control over your earning ability. Get into car sales, real estate sales, medical equipment sales, etc.
Guess why even the bottom 40%, which on average has a negative effective federal income tax rate, pay at least some corporate tax.
Like I said... Econ 101. Taxes are an overhead expense and as such are included in the goods/services pricing formula.
I see, but is that really enough to cover their share? That formula includes several aspects not only taxes and then you still have some companies attempting to use loopholes to pay less as that Forbes article indicate. I know that it is partially the governments fault for having higher rates than other first world nations, but at the same time our population is much higher than other first world nations could that be a factor?
I see, but is that really enough to cover their share? That formula includes several aspects not only taxes and then you still have some companies attempting to use loopholes to pay less as that Forbes article indicate. I know that it is partially the governments fault for having higher rates than other first world nations, but at the same time our population is much higher than other first world nations could that be a factor?
Look at the percentage of corporate tax the bottom 40% of income earners pay compared to their negative effective federal income tax rate. WHY is their federal income tax rate negative, but yet they're STILL paying corporate income tax? Take another look. The corporate income tax rate each income group pays is relatively consistent until one reaches the 80th-90th income percentile, in which it finally begins to increase:
Get a job in sales where you are paid commission. You will have 100% control over your earning ability. Get into car sales, real estate sales, medical equipment sales, etc.
I know multiple people doing the first two types of sales.
Car sales uh, excepting a few brands... no
Real estate is hard to establish one's self but once established you can do well. VERY few make it.
No idea on medical equipment.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
