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Fairly obvious conclusion given the stagnant wages(despite rising productivity), wealth concentration, and monopolization trends/shrinking GDP share of small businesses.
Okay, I'll admit it...I'm an evil rich guy. I hope I don't get banned by C-D for admitting it. I'm not top 1% rich though, so some of you might still not block me out.
I hope you all realize the difference between top 2% and top 1% is massive.
So, I'm only a top 2%'er, so not sure I qualify to respond to this topic, but here goes anyways...
I bought a Porche from a dealership in Seattle. The sales lady, who was newly graduated from college, & just starting out made a nice commission on the sale. Is that trickle down? A truck driver delivered it to me in Georgia. The truck driver did not appear to be rich to me....but looks can be deceiving.
I bought a new home in Florida. The sales guy, who was poor after a recent divorce, made a nice commission on it. Is that trickle down?
After buying the home, we had a parade of small businesses do mods to the home...screened in lanai, change the landscaping, plantation blinds, hang a chandelier, install ceiling fans, ect.. None of those small businesses & contractors were rich, most middle class. Is that trickle down?
I'm looking at buying a boat, the sales guy is an ex-law enforcement officer who just did a career change so he could feed his wife and 3 kids, and be able to buy a home some day. He'll make a nice commission of the sale of the boat to me. Is that trickle down?
Maybe I don't understand what Libs mean by trickle down.
Last edited by beach43ofus; 12-16-2020 at 04:14 PM..
Wages have been flat in terms of actual buying power for 40ish years compared to just about any marker you want to use to measure the wealth gains of the highest income groups.
Wages have been flat in terms of actual buying power for 40ish years compared to just about any marker you want to use to measure the wealth gains of the highest income groups.
Okay, I'll admit it...I'm an evil rich guy. I hope I don't get banned by C-D for admitting it. I'm not top 1% rich though, so some of you might still not block me out.
I hope you ll realize the difference between top 2% and top 1% is massive.
not really. you dont see the massive leap until you hit the top 0.1%
Quote:
Maybe I don't understand what Libs mean by trickle down.
Yes and no. Theres a ton of trickle down at the 2% and 1% level. But thats also where very little money is. I know for most people a 6 or 7 figure income sounds insane, but its not. Im in the top 10% for single earners I think, so for me yeah-you make a LOT more then me. But my family is....hmm...how to put this. My father made more in one year then I have made in the last 50 years. Ive seen a grand total of...$3,000 of it when he gave me some help with my house down payment-and even that was transactional shall we say. Its not that we are estranged so much as my father has seen other children ruined by parents helping too much. Ive seen someone get a fully paid ride to Harvard and Yale, everything. A license to print money.....and they have failed in life. Horrifically.
So I've lived on estates with maids, and gardeners when I stayed with him during summers as a child....and Ive lived with my mom in abject poverty the rest of the time. It was....eye opening.
So when you get a tax break, you still spend a lot of it. It DOES trickle down. When the top .1% gets one...nothing changes. They dont do things that move that money, they're spending a million a year in things....but taking in tens of millions more. their spending doesn't change much, but their investments crowd everyone else out at the bottom end.
And...theyre completely unaware of how life actually works. A speeding ticket for them is more about the time the cop wastes in writing it, then it is the money. If they really want to they can destroy someones life using pocket change. Its a different world entirely. And trickle down just doesnt occur because most are spending all they really want or need too.
Fairly obvious conclusion given the stagnant wages(despite rising productivity), wealth concentration, and monopolization trends/shrinking GDP share of small businesses.
The tax cuts were good to me over the years and I'm not rich.
But any money I saved was my money that I used for me.
I don't own a business and I didn't just hand out that money to strangers on the street.
I don't know why people think that if I'm saving money due to tax cuts that the poor guy down the block should be getting what I've saved.
not really. you dont see the massive leap until you hit the top 0.1%
So I've lived on estates with maids, and gardeners when I stayed with him during summers as a child....and Ive lived with my mom in abject poverty the rest of the time. It was....eye opening.
what are the circumstances that allowed him to earn all that money, but not pay commensurate child support?
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