This a refreshing change from telling young people to skip the avocado toast. It doubles as an indictment of unregulated capitalism.
And from another post you made, you wouldn't have to see your own taxes go up 5% if we would just tax the uber-rich.
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- Thread starter hpnole
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And from another post you made, you wouldn't have to see your own taxes go up 5% if we would just tax the uber-rich.
How man of the uber-rich own companies? Let's use an owner of a pro sports team for example. What do you think will happen if they get taxed 5% more? You think they'll absorb it, or pass it on down? I'm not saying they aren't greedy. Some are. They catch so much criticism from guys like you, but you never stop to think how many jobs they create. Plus the athletes are making outrageous salaries, which in turn adds to the fan paying for it when (if) they go see a game.
But these sayings are true, that you can't make the poor wealthy by making the wealthy poor, and you never get a job from a poor person.
The problem with that argument is that we’ve already run this experiment before. During the 1950s and 1960s, when America experienced one of the greatest periods of economic growth in its history, the top marginal tax rate was 91% on the highest earners. With that tax revenue, we built the Interstate Highway System, expanded airports and ports, constructed dams and power projects across the country, built schools and universities for the Baby Boom generation, funded the Space Race, and created much of the infrastructure we still rely on today.
The wealthy didn’t disappear or move, businesses didn’t stop investing, and job creation didn’t come to a halt. That’s a myth the billionaire class pushes in order to keep taking more and more.
As for sports team owners, they’re already charging the maximum amount they think fans will pay. Ticket prices aren’t determined by the owner’s tax bill. They’re determined by demand. If owners could raise prices without losing customers, they’d already be doing it, along with every other corporation. Companies pass along costs when the market allows it, not because their tax rate changed.
Nobody is arguing that making wealthy people poorer automatically makes everyone else richer. The actual question is whether an economy works better when a larger share of the wealth created is reinvested into things that benefit everyone. The postwar boom of the 1950s and 1960s suggests that a combination of strong private enterprise, major public investment, and a more progressive tax system can produce broad prosperity. We know it works because we’ve done it before.
“I will be a Senator for the people who can not afford to buy a Senator”
If you’re unfamiliar with Graham Platner, this is his victory speech from last night. It’s easy to see why he’s garnered so much support and weathered storms that would have sunk other candidates. His economic populist message is going to be extremely potent this election cycle. If the DNC were smart, they’d be taking notes and replicating it across the country.
The Maine Senate race is the lynchpin of any Democratic hopes of controlling the Senate. It’s one of the races I’ll be watching very closely.
There's so much to dissect in this part. I'm no expert (shocker), but I'll give my two cents. First, during the boom of the 50's, the American family stayed together, mom stayed home, and life was simpler. In no way am I saying women were treated fairly, but on this topic, fast forward 30-40 years, and the pendulum has swung too far to the other side, in my opinion. You gradually make it harder to live on one income, create a war between men and women, and in return, you start breaking families up, and in doing so, getting more and more people relying on the government. This was a devious plan, by evil people.
On your part about the wealthy? NAFTA in the 90's says hello. Why pay an American worker in the 90's $15-25 an hour, when you can have someone in Mexico, China... make it for dollars a day? America wasn't ready for Ross Perot, but he was spot on with his statement about what was about to happen, before it happened.
There's a lot of blame to go around, but it starts and ends with greed. I'm not saying some billionaire business owners aren't bad, but it's not all on them. There's a swamp in DC too, and it's been there for quite some time.