The wealthiest 1% close to becoming richer than the entire upper middle class (solution, politician)
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The wealthy that own DC are already slaughtering the middle class when they opened up trade with Communist China.
This is so disingenuous that it’s beyond imagination.
If the rich owns DC, why are they being taxed the most???
And why are 70% of the rich lose their wealth by the third generation and 90% by the fourth?
And how is it possible for the government owned by the rich to do anything short of a revolution? In the same breath, you also tell me a few AR15s aren’t going to make a dent to the military might of US.
The current path we are on is not sustainable. If trends continue there will be no middle class, there will only be the ultra wealthy, the working poor, and lot of homeless, similar to a feudal state. Ultimately this hurts the wealthy the most, because there will be no one with enough income to buy the products that the wealthy producers make. Hard to sustain wealth when your revenues and profits disappear because your customer base has shriveled to nothing.
It's a symbiotic relationship: the wealthy need the middle class and the middle class needs the wealthy. The pond needs big fish and little fish to sustain itself.
I predict in the future the wealthy class will clamor for UBI or higher taxes on themselves. They won't do it for altruistic or humanitarian reasons. They'll support UBI for self-preservation, knowing that the only way for them to keep selling goods and services is to make sure there's a middle class with money in their pockets to buy them.
We have been on this path for over 200 years. What do you mean not sustainable?
The problem I see is with our expansionary monetary policies the velocity of the money supply doesn't seem to be going up and hitting inflation targets that we should be hitting. It seems money is going into investment vehicles instead of the general economy. It seems that hoarding of wealth in investment vehicles and not generating growth in the general economy is the name of the game. If we didn't have QE I wonder what shape our economy would be in right now. Probably why Trump was getting frustrated with Chairman Powell due to the Fed unloading their balance sheets.
I’m short on time, so I may get to reading your links later. In the meantime, maybe you can tell me, which investment vehicles do not generate growth in the general economy?
This is so disingenuous that it’s beyond imagination.
If the rich owns DC, why are they being taxed the most???
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Those taxes get passed down to others via products and services, so everyone is paying for it. They are not going to eat the costs.
The Crony Capitalists are the major beneficiaries of those taxes.
Medical is a large expense and the insurance and pharma industry are the top lobbyists in the nation.
Quit all medical programs and the lobbyists would burn DC to the ground.
If government is not the answer then how come the wealthy shower politicians with billions of dollars a year. This money is not coming from people living paycheck to paycheck which account for the majority of Americans.
The wealthy expect a return on their investment. That is corruption to the core like a third world country.
That's one huge reason why government isn't the answer. It's pretty predictable.
Government has a lot of power over society...
Government is made up of corruptible human beings...
Those humans sell off their power to the highest bidder, which rigs things against everyone else...
Everyone else's solution is to either A) give the government more power, or B) "just get the right people in power who won't be corrupt"...
Since A will never fix the problem, and B is extremely naive, the remaining option is to reduce the power the government has.
Unfortunately, people hold out on this false hope that they can somehow have all this power to control society and it won't be used to favor a small group at the expense of everyone else.
It's never happening, ever, unless you replace humans with angels.
If government is not the answer then how come the wealthy shower politicians with billions of dollars a year. This money is not coming from people living paycheck to paycheck which account for the majority of Americans.
The wealthy expect a return on their investment. That is corruption to the core like a third world country.
So you think people that can be bought off are the answer?
Change capital gains/dividend tax rates for those getting 1 million+ a year
No reason they should pay a LOWER tax rate than me.
I'm a trump supporter fwiw.
Capital can flee much easier than labor.
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