Elizabeth Warren proposes "Ultra-Millionaire Tax Act" (Canada, millionaires, program)

[lookingaround12345]

Originally Posted by Nickchick

So do you have a time machine? Because I've been looking for one for years.


With what money? I don't have that much even if you included the taxes.


The choices I made are irrelevant. I mean I think I caused the virus to happen too so I guess I'm a murderer now that deserves to be punished.

When you write l;Ike this I am not sure a degree can help this sort of mentality. This is straight out of the twilight zone, self unawareness.

[Nickchick]

Originally Posted by workingclasshero

what make you think it should not be your responsibility ????


it is the integrity of the person that is the problem


so a loan (a contract) THEY CHOSE to take out that loan...they made a promise that they would replay it...not expect someone else to pay THEIR BILL



forgiveness of a loan is wrong..those "students" signed a LEGAL CONTRACT... it is their JOB to pay that loan back..... otherwise what are we saying....do you really think we should be saying the law doesn't matter, legal contracts don't matter..... do we really want to raise a generation that is lawless??




if a person wishes to get a loan (which is a contract) then they should be expected to repay said loan...honor your contract






a student loan is a signature or character loan... you are getting a loan based on character or your word, that you are using this money for good (going to school) and you make that promise that you will re-pay that loan...... you gave your word, your bond, your promise.......you signed the contract which was very clear on the interest rate (be it a fixed 0% or even 25%...be it an adjustable (for example 5% + prime))……....you AGREED to the details of that contract.




forgiveness of a loan is wrong..those "students" signed a LEGAL CONTRACT... it is their JOB to pay that loan back..... otherwise what are we saying....do you really think we should be saying the law doesn't matter, legal contracts don't matter..... do we really want to raise a generation that is lawless??




if a person wishes to get a loan (which is a contract) then they should be expected to repay said loan...honor your contract




my word, means something...even with my kids...if I make a promise, I keep it... that is why I am very careful with my promises (for example if my daughter asks for something reasonable, I can say "sure, I will get that for you" (a promise)...but if she was to ask for something unreasonable or out of reach currently..I can then say "I will think about it, and we will see what we can do" (ie not a promise)




sorry but I grew up, and my decades in the military have show me that your word, your morals, your ethics, and YOUR INTEGRITY is truly your bond


apparently you lack integrity

So only I should abide by my contract?


Because the school is the one that broke their word.

[CLR210]

Originally Posted by Nickchick

So only I should abide by my contract?


Because the school is the one that broke their word.

How exactly did the school break their word?

[Nickchick]

Originally Posted by CLR210

How exactly did the school break their word?

I didn't get a job at all let alone one in my field. I only got a very limited time with a career coach. I signed up to get a mentor and they flaked out on me and nothing happened after that. Any time I told them I couldn't find anything all I got was "look on our website at the job listings".

[workingclasshero]

Originally Posted by Nickchick

So only I should abide by my contract?


Because the school is the one that broke their word.

no the school did NOT break their word.... they provided you an education..and apparently you did well enough to get a degree... just because you can not seem to find a use for that degree (which you (unless I missed it) have not even said what kind of degree) (you also have not said where you are willing to work and use that degree)


it is you who is breaking the contract.... you received money, you AGREED to the TERMS (length/amount/and interest) of that contract...and now you are CHOOSING NOT TO PAY IT BACK..

[jetgraphics]

Originally Posted by Lekrii

The wealthiest three people in the country control more wealth than the bottom 50% of the population. A higher tax on the ultra wealthy is an extremely reasonable suggestion.

For some strange reason, you believe that wealthy people have a lot of money.
You do know that there is a money drought, right?
There's less than $6,200 per capita in circulation.

Now, if you increase the tax on "wealthy folks" - they just can't write a check. Their wealth is tied up in assets like stocks and bonds. So what you're saying is : force them to divest their assets, to pay this tax.
But forcing them to sell, possibly at a loss, not only is difficult, but if all those folks are dumping their assets at the same time, who's going to buy them? The poor? The next to be wealthiest folks? Democrats and their backers?

Next year comes around, and these wealthy folks are far less wealthy, since they had to divest their income producing stocks and bonds. It's like if you taxed a worker so that the following year he can't work more than 30 hours per week. And each incremental loss adds up. Well that sounds like a great reason to NOT bother investing in taxable stuff. Watch the wealthy shift to tax-exempt municipal bonds, etc.
OOPS.

Let's not forget that taxing corporations and businesses and workers shifts the tax bill to the retail price. Where else do they get their money to pay taxes if not from their customers (like YOU). There is no invisible pink unicorn of socialism farting rainbows of dollars.

https://www.federalreserve.gov/faqs/currency_12773.htm
Q: How much U.S. currency is in circulation?

A: There was approximately $1.70 trillion in circulation as of January 31, 2019. This figure includes Federal Reserve notes ($1,655.2 billion), U.S. notes ($0.2 billion), currency no longer issued ($0.2 billion), and coins outstanding ($47.2 billion).
A: update -As of January 8, 2020 there was $1.75 trillion worth of Federal Reserve notes in circulation.
A: update -As of July 8, 2020, there was $1.93 trillion worth of Federal Reserve notes in circulation.
A: update - As of January 6, 2021, there was $2.04 trillion worth of Federal Reserve notes in circulation.

U.S. Population = 329,217,343
Estimated $5,042.26 per capita in circulation (2019)
Estimated $5,862.38 per capita in circulation (2020)
Estimated $6,196.51 per capita in circulation (2021)

IF you want some "real fun" watch the panic when folks realize that not only will they not get more interest, but they won't get back their original principal because the money doesn't exist.
Those who do large cash business with banks, know how hard it is to cash large checks. The banks don't have much cash on hand, anymore.

Now here's something to ponder:
There is $2.04 trillion in circulation.

Government Spending Details in percent GDP: Federal State Local for 2021 - Charts>
Total US government estimated spending for 2021 is $8.16 trillion, including a budgeted $4.83 trillion federal, a “guesstimated” $2.03 trillion state, and a “guesstimated” $2.1 trillion local.

GDP: $23,353.1 billions
WHOA...

That is some might fast "velocity of money" !
Government has to tax the same dollar bill over four times...
When the music stops, not too many chairs are left.


Imagine the mess if you HOARD money under the mattress!

[InformedConsent]

Originally Posted by EddieB.Good

Your ambulance example is an apples to orange comparison. That ambulance is paid for out of a greater operating budget that's funded more by HI, grants, and out-of-pocket than by the billing for ambulance services.

If that were true, the 1.5 mile essentially no more than a cab ride my kid took to the hospital wouldn't have cost $700. It would have been more like $10, tops.

[oceangaia]

Originally Posted by kanonka

Only if nobody is buying that lemonade, no matter how good it is (akin to nobody giving you a job for your degree no matter how good you are at at). Otherwise that 10 year old will get delusional that hard work can get you somewhere.

Well if the 10 yr old was dumb enough to open a lemonade stand in the arctic outdoors then they will probably not get any sales. It was up to you to not waste 4 years and tens of thousands of dollars getting a degree that was worthless to employers. Unless the market needs dramatically shifted during those four years, and that degree was in hot demand when you began and a dead end when you graduated (I highly doubt it) then it is 100% a matter of you didn't do your career research or you just didn't care. Part of being smart is seeing what the market wants and trying to learn that, not learn what tickles your fancy. You have to offer what the market wants, not expect the market to want whatever you decide to offer.

[Nickchick]

Originally Posted by workingclasshero

no the school did NOT break their word.... they provided you an education..and apparently you did well enough to get a degree... just because you can not seem to find a use for that degree (which you (unless I missed it) have not even said what kind of degree) (you also have not said where you are willing to work and use that degree)


it is you who is breaking the contract.... you received money, you AGREED to the TERMS of that contract...and now you are CHOOSING NOT TO PAY IT BACK..

I didn't want an education though. Yeah but it took me another year to do it. I failed a few classes. Sure if it makes a difference to you: IT/Visual Communications and anything relating to graphic design/video editing.





Yeah I'm choosing not to go into the military or become a teacher. Do you really think I belong in either place?

[oceangaia]

Originally Posted by kanonka

Doesn't work. This is a delusion, although the one that being actively pushed onto sheeple.
Example: medical degree is a lucrative career, and has been for a long time, would you agree? So, quite a few very bright people got into med school to get it. Alas, as of this year, there is an oversupply of the EM doctors in this country - by about 2000 of them. So, right now there are 2000 fresh out of med school Emergency Medicine doctors with ~$300K debt each, 10 years of their lives wasted and no jobs - and zero perspectives to get a job. Did they make a mistake in their carrier? Were they irresponsible?

Nonsense. And don't feed me stories about graduates who can't find a match for residency because they went to offshore medical school mills because they couldn't pass MCAT or measure up to a US medical school.


Even in the hottest professions I'm sure you can find 0.1% who just don't have what it takes to make it in that field.