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Somebody's gotta' make, market and sell all that stuff. That means jobs for people to feed their families and put a roof over their head. Or would you prefer that the wealthy just stop spending their money and hoard it under their mattress? This doesn't even take into consideration all of the products that those who are employed by those industries buy. It would be a chain reaction of poverty and despair if the wealthy stopped spending their money on Yachts, dozens of sports cars, huge mansions etc. etc.
Or do you prefer that the government which is a giant cesspool of corruption unto itself confiscate all of the wealth so that the greedy corrupt politicians become wealthy? As in countries such as Venezuela.
"It would be a chain reaction" which is called "trickle down" economics, which most of the left declares does NOT exist!
I don't think there should be a limit. Wealthy people making lots of money isn't the problem. The problem is the CEO making hundreds of millions of dollars and the workers getting so little they have to go on public assistance. If those workers were making a living wage, with enough left over to put aside for their retirement, I wouldn't care if the CEO was making billions every year.
Agreed on this. If the people below you can live just fine on the salaries *they're* paid, then go ahead and collect all the billions you can.
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.
Thank you Karl Marx.
If you want to argue that taxes on the wealthy need to go up --- you'll get no argument from me.
If you want to argue for wage confiscation --- you'll get plenty of argument.
Agreed on this. If the people below you can live just fine on the salaries *they're* paid, then go ahead and collect all the billions you can.
If Walmart’s CEO salary was divided between all Walmart employees every employee would get an extra $16 a year. Less than a penny an hour for a full time employee.
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 person is a poster child for the left: An authoritarian advocating theft as a moral argument and as a benefit to the greater society. LOL. You can't make this stuff up.
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.
And ..... crickets from the poster for whom this was a response. Why, that fancy book-learnin' is just bourgeoisie propaganda designed to keep the money in the hands of the 1%.
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.
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