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Yeah. The paper they are talking about isn't even exclusively about America. It covers many countries, but we have experts around here trying to declare one state is superior to another, yada-yada-yada.
I graduated from high school in 63, so I have been working that long. Been to 49 states and 20 countries, mostly working.
America is the best place in the world. I understand some of the wealthiest New Yorkers are leaving, and I have talked to several in New Jersey who cannot afford to stay after retirement, but few are leaving USA.
We're lucky. We had fairly good paying careers and retired in place. Not everyone can do that.
Californians think Texas is a good relocation spot. I lived in Arlington for a while and San Diego a long time ago, and I agree - Texas is better.
I don't know whether trickle down works or not. Seems like something pretty stupid to argue about, though.
We all do the best we can. Even if I thought trickle down didn't work I don't know what I could do about it....
Somehow, all the social programs are doing better now than they were in 1970. So something works.
You can take the money from the rich at gunpoint and put it in your pocket.
In relation to my post and the previously set context, your post comes off as supporting a false claim.
To you it does.
Not every motivation is adversarial.
By including ‘by that point’ in your sentence, that was a tell to me that you didn’t know about the trust Bill’s grandfather established for him, so I added that information.
I actually think there is often more pressure on kids from wealthy families to work hard than there is on kids from more modest backgrounds....and that sometimes that pressure is pressure the kids are putting on themselves (in those cases, not coming....even passive aggressively.....from the parents).
If you made $150k (adjusted for equivalent salaries) for the last 30 years, and lived as a middle class 4 person family, it would be expected that you would have a net worth of 4 to 6 million on the conservative side. More if the spouse was working.
Yes, and you can become a multimillionaire without ever having earned $150k a year, simply by investing wisely over time.
I don't really blame anybody. I just wonder if an economic system that continues to heavily favor the top part of the income scale is necessarily healthy. The model we saw from the 1930s to the 1980s seemed to have more equitable rises in income across the board.
Our economic system has been tranformed & twisted by the top 1% ( and their stooge lawyers) into a new & very different system.
Its been done by millions of small incremental changes to the tax code, other laws, & regulations.
That is why Trump started gutting regulations. They smother economic freedom, and provide advantages to tose at the top.
Each regulation, tax law, & trade restriction, was made to give somebody, or some group, an advantage. That person or group paid for it through kickbacks, graft, campaign donations, ect..
This is why the tax code is tens of thousands of pages.
All of these tax code laws, & regulations, distorts our free economy system. We need to undo nearly all of them, and go back to square one.
The federal government needs to be gutted, because the more of them there are making laws, regulations, and twisting the system to advantage the top 1%, the worse off the rest of us are.
big Government = big corruption small government = small corruption.
Bernie Sanders and Donald Trump see all of this, & know the system is rigged against the 99%. That is why the deep state will not let them succeed, and resist them, with all they have.
The entire beauracray is not actually a red versus blue driven machine. The Turtle and Pelosi, have more in common with each other, than either has, with any of us. Watch how they all pal up and smile after they sign a massive spending bill. They all look like they are best friends, just afterwards.
You'll have an opportunity to see this in the days ahead when they agree and sign the next round of CARES stimulus. They are all skimming off the top of that money moving from the treasury to big business.
They dont get to skim as much when it moves from the treasury to the 99%. That is why little or nothing for the 99% in this round, and why 85% is going to businesses....its all about the kickbacks.
So the only solution is to take from the wealthiest people and redistribute it to the lower earners so the economy is fairer. Sounds to me like that will make everyone poor except for a few elites who are politically connected. Sounds much better.
Fairly obvious conclusion given the stagnant wages(despite rising productivity), wealth concentration, and monopolization trends/shrinking GDP share of small businesses.
Posting this here is going to fall on deaf ears for those not already in agreement with this fact. Many think trickle down means, your employer pays you money for your job, so that's trickle down. LOL
Yeah trickle down is an economic theory that needs to be put to rest for good. We’ve tried it for a long time. It doesn’t work.
Trickle Down is nothing but Capitalism being allowed to work the way that it's designed and intended to with minimal regulatory or punitive interference.
But that doesn't mean that the benefits from the natural effect of trickle down are going to fall into your lap whail you sit on your ass.
In around about way this thread is more about money velocity and how does the country get more of it. The idea from the right is their trickle down theory of tax cuts which no doubt increase money velocity which is definitely needed in our consumer economy. As Greywolf pointed out correctly there is a limit on that velocity because the rich will only spend so much and the rest ends up invested in stock market and lies dormant as far as velocity is concerned.
Just like all the stimulus we are seeing is about one thing keeping money moving through the economy no matter earned or unearned. You get a lot of velocity when the gvt is handing out 1200 checks to everyone earning 100,000 or less. It does not matter we are running up debt to hold or increase our consumer spending that is what the leaders will do.
With that said which party has the better ideas on money velocity? lets see the {D}s want a increase in the min wage to 15 bucks an hour incrementally. Increasing immigration is their way of more consumers and workers. The party is for forgiving student debt which would put $300 a month for millions into the economy. Infrastructure and investing in green energy should be our future and our country could use a face lift.
On the right let see, tax cuts that mostly favor the wealthy that only so much of it will trickle down.
Forgot to mention Yangs UBI idea which would gas consumer spending and money velocity. I am not saying I support all these ideas I am just putting them out there.
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