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This is a product of runaway capitalism fyi. A few people become rich, very rich. They then turn around and bribe politicians to rig the rules in their favor. From here on out, lion share of government spending goes directly or indirectly into their pockets. The country becomes poorer, less efficient. Our infrastructure is worse than most European countries. They get richer though.
I agree, upward mobility and the middle class was best during the 50s/60s.
All before the 1965 Immigration Act that opened the floodgates to the Third World.
Clueless... You are referring to stock buybacks that increase share values. 100 million American workers and retirees have, in aggregate, $37.5 trillion worth of investments in their pension plans and retirement accounts. When stock buybacks increase the value of stock shares, all 100 million people benefit, not just the wealthy.
A lot of these pension funds, annuities and other retirement accounts used to be able to rely on traditional savings accounts/CDs when we had "normal" or high interest rates.
With the Federal Reserve and Central Banks the world over keeping interest rates low or even negative for decades, they have nearly forced most of these funds and people in general to invest into the much riskier stock market in order to get any kind of returns on money/ROI.
You still need the money to buy those fractional shares. You always need some money to get started.
Would you believe there are people out there with no extra money to save or invest, and they don't buy booze, drugs, lottery tickets, and Gucci bags either?
Is a dollar not enough to start?
I believe all kinds of people exist, but how many and what percentage is that?
Trickle down economics is a scam. When the government decides to redistribute wealth, it says it will give it to the richest Americans first (instead of the poorest or middle class) mainly in the form of tax cuts, loans, what name you, and then this money will trickle down to the middle class and poor.
Of course some trickles down! But just a trickle. Meanwhile the debt increases, infrastructure crumbles (as someone who flies 100,000 miles + a year around the world, I really notice the sorry state of American airports) and the middle class continues to flounder in the USA. Middle class standards are declining.
I see you guys complaining about inflation, most of you need to work to maintain your SOL, some of you are just 1-2 wages away from going into debt. It’s called wage slavery.
It’s not like there isn’t rich people in other countries you know!
Trickle-down economics is of course a scam because money pours down, not trickles down.
Government redistribute wealth is slavery and has nothing to do with "trickle down." The term "tricke down," however wrong it is, means you keep your money and that money will "trickle down" to other people - in reality, it pours down to other people. It really should be called pouring down economics.
If the money doesn't pour down to the poor people, where does the money go once the rich people have earned it?
The "wage slavery' is a made-up term. If someone doesn't work and has no savings, why should he get to eat?
Trickle-down economics is of course a scam because money pours down, not trickles down.
Government redistribute wealth is slavery and has nothing to do with "trickle down." The term "tricke down," however wrong it is, means you keep your money and that money will "trickle down" to other people - in reality, it pours down to other people. It really should be called pouring down economics.
If the money doesn't pour down to the poor people, where does the money go once the rich people have earned it?
The "wage slavery' is a made-up term. If someone doesn't work and has no savings, why should he get to eat?
Governments deciding to give the wealthy money back from shared taxes paid, is of course redistribution of wealth. The wealthy make most of their money (generally speaking) through dividend payments from corporations or stocks they own. This is taxed at a much lower rate than regular salaried income. Then there are all kinds of write-offs that effectively you need to be wealthy to be able to take advantage of. Government loans etc.
Instead the government could invest this in infrastructure, which would also create jobs FYI. Or national healthcare, or something like this that improves the lives of the majority of Americans. Or they could lower the burden the middle class pay in taxes.
And Americans continue to fall against your European counterparts in regards to median salary, but in terms of lifestyle I'd argue Europeans are generally living better already. Australia has already surpassed the USA.
Governments deciding to give the wealthy money back from shared taxes paid, is of course redistribution of wealth. The wealthy make most of their money (generally speaking) through dividend payments from corporations or stocks they own. This is taxed at a much lower rate than regular salaried income. Then there are all kinds of write-offs that effectively you need to be wealthy to be able to take advantage of. Government loans etc.
Instead the government could invest this in infrastructure, which would also create jobs FYI. Or national healthcare, or something like this that improves the lives of the majority of Americans. Or they could lower the burden the middle class pay in taxes.
And Americans continue to fall against your European counterparts in regards to median salary, but in terms of lifestyle I'd argue Europeans are generally living better already. Australia has already surpassed the USA.
to the bold....
median household income 1970 …..7200...... in today's dollars that would be $54,979.05
Governments deciding to give the wealthy money back from shared taxes paid, is of course redistribution of wealth. The wealthy make most of their money (generally speaking) through dividend payments from corporations or stocks they own. This is taxed at a much lower rate than regular salaried income. Then there are all kinds of write-offs that effectively you need to be wealthy to be able to take advantage of. Government loans etc.
Instead the government could invest this in infrastructure, which would also create jobs FYI. Or national healthcare, or something like this that improves the lives of the majority of Americans. Or they could lower the burden the middle class pay in taxes.
And Americans continue to fall against your European counterparts in regards to median salary, but in terms of lifestyle I'd argue Europeans are generally living better already. Australia has already surpassed the USA.
What?
Please show me the budget line listing the money to the wealthy.
Dividends are taxed at the SAME rate as salary.
Investing in infrastructure and health care? LOL. The government doesn't invest - they pay their donors through government spending. LOL
Lower the burdern of the middle class? The vast majority of the taxes are paid by the rich.
Last edited by lifeexplorer; 08-15-2022 at 03:10 PM..
Please show me the budget line listing the money to the wealthy.
Dividends are taxed at the SAME rate as salary.
Investing in infrastructure and health care? LOL. The government doesn't invest - they pay their donors through government spending. LOL
Lower the burdern of the middle class? The vast majority of the taxes are paid by the rich.
Look up qualified dividend income and its tax rate. I structured my income to be mostly dividends for decades due to tax saving potential. If it was salaried income I’d basically pay close to 2x in taxes.
Look up qualified dividend income and its tax rate. I structured my income to be mostly dividends for decades due to tax saving potential. If it was salaried income I’d basically pay close to 2x in taxes.
Thank you very much. You are correct about the qualified dividend. Learned something today.
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