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re: New Study on Rising Suicide Rates Suggests Capitalism Is Quite Literally Killing Us
Posted on 6/25/18 at 8:38 am to yoga girl
Posted on 6/25/18 at 8:38 am to yoga girl
quote:
Why would anyone dispute the conclusions of the study? As long as the uber wealth 1% horde the wealth at the expense of everyone else, this is one (and just one) of the consequences.
if this argument were true, then why are the middle class and poor now so depressed as their standard of living keeps improving to levels never seen before? isn't that a valid trade off? and if the "1%" truly is hoarding resources, then how are the poor/middle class realizing these gains in societal standards
quote:
We need some form of wealth redistribution or society will collapse.
we have a metric ton of this already. the rich pay a disproportionate amount of taxes
This post was edited on 6/25/18 at 8:39 am
1
Posted on 6/25/18 at 8:43 am to yoga girl
quote:
Why would anyone dispute the conclusions of the study? As long as the uber wealth 1% horde the wealth at the expense of everyone else, this is one (and just one) of the consequences.
We need some form of wealth redistribution or society will collapse.
I'm not even sure if bumping minimum wage to at least $15 per hour will help any more.
We'll look like Brazil with its violent slums if we don't fix this problem.
Again, how do you go about "re-distributing the wealth"?
Posted on 6/25/18 at 8:45 am to rowbear1922
Good old fashioned hangings. That's what it always comes down to. And it will again. War will eventually happen. And then the cycle repeats. Revolutions, etc.
Posted on 6/25/18 at 8:46 am to rowbear1922
Posted on 6/25/18 at 8:49 am to SlowFlowPro
quote:
the rich pay a disproportionate amount of taxes
They pay a disproportionate amount, but not a disproportionate % of their income. Big difference.
If I was confident the government wouldn't waste it, I'd gladly pay a 50% tax rate. I do realize that when a governmental body gets additional money, it usually spends it (rather than pay off its debt or return some to the taxpayers).
Posted on 6/25/18 at 8:51 am to yoga girl
quote:
They pay a disproportionate amount, but not a disproportionate % of their income. Big difference.
sure but irrelevant to your point
we already have wealth redistribution and the rich already pay more than anyone else
Posted on 6/25/18 at 8:52 am to yoga girl
quote:
If I was confident the government wouldn't waste it, I'd gladly pay a 50% tax rate. I do realize that when a governmental body gets additional money, it usually spends it (rather than pay off its debt or return some to the taxpayers).
I already pay near this as it is. To me, it should be a flat percentage for anyone and everyone. If you make $1000 a year or $50M a year, same percentage.
Posted on 6/25/18 at 8:53 am to rowbear1922
quote:
Again, how do you go about "re-distributing the wealth"?
Increase tax rates would be the easy answer, but I don't think the government is competent when it comes to wealth redistribution (or much of anything else).
I came up with one on my own that I like: Bounce the upper echelon of the tax rate up to 80 or 90% BUT create a very generous tax credit for every good job (living wage plus benefits) that you create.
Illustration: I have $1,000,000 in income subject to the 90% tax rate. I'm going to only have $100,000 of it after taxes are paid. But, if I create two jobs at $100,000 total cost, I get a tax credit equal to three times that cost. So, by spending $200,000, I get a $600,000 tax credit. So now I have $500,000 left rather than $100,000 (1,000,000 less 100,000 (my original 10%) less 200,000 for the job expense plus 600,000 for the tax credit.
Win win for everyone.
Posted on 6/25/18 at 8:56 am to rowbear1922
quote:
I already pay near this (50%) as it is.
You must be including state income tax (we don't have one) or you need a new CPA.
Posted on 6/25/18 at 8:57 am to yoga girl
quote:
Increase tax rates would be the easy answer, but I don't think the government is competent when it comes to wealth redistribution (or much of anything else).
I came up with one on my own that I like: Bounce the upper echelon of the tax rate up to 80 or 90% BUT create a very generous tax credit for every good job (living wage plus benefits) that you create.
Illustration: I have $1,000,000 in income subject to the 90% tax rate. I'm going to only have $100,000 of it after taxes are paid. But, if I create two jobs at $100,000 total cost, I get a tax credit equal to three times that cost. So, by spending $200,000, I get a $600,000 tax credit. So now I have $500,000 left rather than $100,000 (1,000,000 less 100,000 (my original 10%) less 200,000 for the job expense plus 600,000 for the tax credit.
Win win for everyone.
So why would ANYONE accept a job were they are paying 90% taxes? If you don't think the big time CEOs and people making above your tax wouldn't find ways to go around that, you are crazy. You are literally telling anyone starting a company that it makes zero sense to grow it beyond a certain point.
Posted on 6/25/18 at 9:02 am to yoga girl
quote:
You must be including state income tax (we don't have one) or you need a new CPA.
It's about 37% comes out for Fed and State taxes for me.
ETA: Hell I just looked at it, I pay more in taxes in one year than I used to make in a year. It's definitely over 37%. Closer to 41%
This post was edited on 6/25/18 at 9:07 am
Posted on 6/25/18 at 9:08 am to rowbear1922
if you add up all the taxes you pay it's probably over 50%
sales tax, property tax, registrations, fees, etc add up
sales tax, property tax, registrations, fees, etc add up
Posted on 6/25/18 at 9:10 am to SlowFlowPro
quote:
irrelevant to your point
It is highly relevant. Fairness is all about the percentage, and has little to do with the amount.
"I made a billion and I paid $5m in taxes" is like someone making 20,000 paying $10.
Posted on 6/25/18 at 9:17 am to yoga girl
quote:
I'd gladly pay a 50% tax rate.
Don't you get most of your money from a trust fund?
Posted on 6/25/18 at 9:21 am to yoga girl
quote:
Fairness is all about the percentage, and has little to do with the amount.
why?
Posted on 6/25/18 at 9:23 am to SlowFlowPro
Seems like fairness would be everybody paying an equal amount
Posted on 6/25/18 at 9:23 am to yoga girl
The only way to redistribute the money of the elite is via death tax. Like Buffet said when stating his secretary pays more taxes.
Just a few people own the vast majority of wealth in this world thanks to capitalism and the stock market. Capitalism can be good, no doubt, but it needs safe guards or it will be exploited big time and it has been exploited big time. It should be assumed that people will try to exploit any system...
Contrary to what so many good people – out of sheer terror of ‘Communism’ – think, Capitalism is not ‘free enterprise,’ an incentive for success, ‘a chance for all.’ Capitalism is trusts, speculation, parasitical usury. Capitalism is J. P. Morgan, Rothschild’s bank, ripping apart the nations like maddened swine. Capitalism is the frying pan in which culture is rendered down to the grease of money. Following it, as the night to day, is the thrice hotter fire of ‘Communism
Just a few people own the vast majority of wealth in this world thanks to capitalism and the stock market. Capitalism can be good, no doubt, but it needs safe guards or it will be exploited big time and it has been exploited big time. It should be assumed that people will try to exploit any system...
Contrary to what so many good people – out of sheer terror of ‘Communism’ – think, Capitalism is not ‘free enterprise,’ an incentive for success, ‘a chance for all.’ Capitalism is trusts, speculation, parasitical usury. Capitalism is J. P. Morgan, Rothschild’s bank, ripping apart the nations like maddened swine. Capitalism is the frying pan in which culture is rendered down to the grease of money. Following it, as the night to day, is the thrice hotter fire of ‘Communism
Posted on 6/25/18 at 9:24 am to RogerTheShrubber
quote:
Don't you get most of your money from a trust fund?
I also have my own money. But, my income is not relevant to this discussion.
Posted on 6/25/18 at 9:26 am to GreatLakesTiger24
No,
the glorification of suicide is quite literally killing us.
(see Anthony Bordain, see Kate Spade, see Netflix' "13 Reasons Why", etc, etc)
same problem with School Shootings.
Stop glorifying these people and giving them press coverage.
the glorification of suicide is quite literally killing us.
(see Anthony Bordain, see Kate Spade, see Netflix' "13 Reasons Why", etc, etc)
same problem with School Shootings.
Stop glorifying these people and giving them press coverage.
Posted on 6/25/18 at 9:28 am to tiggerthetooth
quote:
So the Kate Spade lady who was worth millions killed herself because of capitalism?
Who wrote this? Bernie Sanders?
great post.
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