War on The Rich: Dumbest Idea in History of Man

Discussion in 'Politics' started by Boss, Oct 18, 2014.

  1. zeke
    Offline

    zeke Gold Member

    Joined:
    Feb 5, 2012
    Messages:
    8,272
    Thanks Received:
    1,111
    Trophy Points:
    190
    Ratings:
    +1,869

    Here is where a lot of the ultra rich put their money.
    • Parking the money directly with the United States Treasury in an account backed by the taxing power of the United States government. They can buy short-term Treasury bills and keep rolling them over until they need the money. Unless the United States goes bankrupt by hyper-inflating, they are safe. Buffett literally has tens of billions of dollars of Berkshire Hathaway’s money parked in Treasury bills, bonds and notes at times. There is no risk of default or bankruptcy unless the entire nation goes bust!
    • Physically holding cash in multiple currencies in safe deposit boxes throughout the world. These aren’t insured, though, so there is that risk.



    Yes sir that sure will help "expand" the economy.
     
    • Thank You! Thank You! x 1
  2. Boss
    Online

    Boss Take a Memo:

    Joined:
    Apr 21, 2012
    Messages:
    21,204
    Thanks Received:
    2,684
    Trophy Points:
    280
    Location:
    Birmingham, AL
    Ratings:
    +9,761
    Again, you need to think dynamically... I know that is a tough concept for you, but try!

    IF you weren't waging all-out war on the rich, trying everything in your power to confiscate their wealth in any way possible.... IF instead, you turned those tables and began offering them incentives to bring that money out of the safe deposit box and spend it.... IF you encouraged them to take capitalist risk by offering lower taxation... You MIGHT get more of their wealth back into the economy and working to help us all.

    But you are far too dumb to figure that out, and you've worked yourself into an envious hate-filled frenzy which blinds you to such an opportunity. You and your lot had literally rather destroy the country, the constitution and all our freedoms, in order to punish the rich. You are like foaming-at-the-mouth rabid dogs, unable to be reasoned with.

    Your policies continue to fail all around you, as you continue on with your memes and propaganda from 19th century Marxists, which frankly make no sense in 21st century America. You continue to blow massive holes in the bottom of our boat because there might be a rich person under there! You've completely gone off the deep end and there is no getting you back.

    The only answer I have, short of declaring you an enemy of state and killing you, is to render you politically irrelevant again.
     
  3. JoeNormal
    Offline

    JoeNormal VIP Member

    Joined:
    Jun 9, 2012
    Messages:
    3,867
    Thanks Received:
    250
    Trophy Points:
    85
    Ratings:
    +809
    After the initial stock sale, most investor money doesn't help anybody but the investors.
     
  4. JoeNormal
    Offline

    JoeNormal VIP Member

    Joined:
    Jun 9, 2012
    Messages:
    3,867
    Thanks Received:
    250
    Trophy Points:
    85
    Ratings:
    +809
    That's been tried in various ways over the last 30 years and the reward to the average person has been outsourcing of their jobs.
     
  5. Boss
    Online

    Boss Take a Memo:

    Joined:
    Apr 21, 2012
    Messages:
    21,204
    Thanks Received:
    2,684
    Trophy Points:
    280
    Location:
    Birmingham, AL
    Ratings:
    +9,761
    No it hasn't. Reagan is the only president in our lifetime who clearly understood this and tried to implement such policies and he was fought all the way by a Democrat congress and moderate Republicans. The mass outsourcing of jobs can be traced to two things, the greed of unionized labor and the implementation of NAFTA and GATT.

    But this is a popular meme of liberals, to point to the utter failures of their ideas and blame the failure on the opposition.
     
  6. JoeNormal
    Offline

    JoeNormal VIP Member

    Joined:
    Jun 9, 2012
    Messages:
    3,867
    Thanks Received:
    250
    Trophy Points:
    85
    Ratings:
    +809
    Are you suggesting that the only jobs to be outsourced have been those of the greedy union scum? Try again. While you're at it, maybe you could take another crack at explaining the value of lower taxes on investment income.
     
  7. Boss
    Online

    Boss Take a Memo:

    Joined:
    Apr 21, 2012
    Messages:
    21,204
    Thanks Received:
    2,684
    Trophy Points:
    280
    Location:
    Birmingham, AL
    Ratings:
    +9,761
    I didn't say "greedy union scum" did I? Nope... not there. I said "the greed of unionized labor" and by that I mean, the unrealistic demands of labor unions on capitalists. I also did not suggest these were the only jobs outsourced or this was the only reason. NAFTA and GATT made it possible for capitalists to outsource jobs to other countries where labor costs were lower, and that's what they've done.

    As for the value of lower taxes on investment income, I already explained that. It is to encourage investment. You want to say there has been no investment, but that's not true, the stock market is growing. That means there are people buying stocks. We've not lowered taxes on investment income, you are talking about raising it to the same as earned income, and I am explaining why that's a dumb idea. If you do that, fewer people will invest (buy stocks) and this will cause the price of stocks to decline. Now eventually, they will decline to the point where people will buy them because the taxation is inconsequential to the investment, but this only benefits the wealthy. Again, you've blown a massive hole in your own boat in order to get the rich person, who is always two steps ahead of you.
     
  8. JoeNormal
    Offline

    JoeNormal VIP Member

    Joined:
    Jun 9, 2012
    Messages:
    3,867
    Thanks Received:
    250
    Trophy Points:
    85
    Ratings:
    +809
    I can see the value perhaps in offering the initial investor a tax break. That rewards the investment that helps the company expand. Beyond that, it's of no benefit to anyone besides the follow-on investors.

    As for outsourcing, that was a failure of government to protect its citizens because there will always be a more desperate class of slaves to do the grunt work. Systemically, it has been a disaster because were reaching a stage where average workers can't afford to buy what they produce. Of course if it's systemic, companies don't feel any responsibility to address it because 'that's not their problem'.
     
    Last edited: Nov 14, 2014
  9. Boss
    Online

    Boss Take a Memo:

    Joined:
    Apr 21, 2012
    Messages:
    21,204
    Thanks Received:
    2,684
    Trophy Points:
    280
    Location:
    Birmingham, AL
    Ratings:
    +9,761
    All investment helps a company expand, that's why they sell stock.

    I am highly offended by your cavalier usage of the word "slaves" in this argument. Slavery is when people are subjugated to provide free labor against their will. That hasn't been the case in America for 150 years. We've also never had a "worker class" in our country, we are a free enterprise system where every person has the freedom to be whatever they please. They are not relegated to class status by the rulers, like they were in 19th century dynasties where this rhetoric was forged.

    What I see here is you whining and moaning about "failure of government" when it was government who implemented these policies to supposedly "help" the little guy. What you are basically admitting is, government fails... but then, arguing that we need more government to fix the things government fails at!
     
  10. JoeNormal
    Offline

    JoeNormal VIP Member

    Joined:
    Jun 9, 2012
    Messages:
    3,867
    Thanks Received:
    250
    Trophy Points:
    85
    Ratings:
    +809
    No, what you're saying is that the worn out brakes on a car were the reason for a collision so it might as well have had no brakes at all.

    'Slave' was perhaps a bit cavalier but the reality is that most people work at jobs they dislike for longer hours than they would prefer to earn a fairly meager existence. And the threat of being denied even that meager existence because someone in a third world shit hole would be willing to do it for less makes the term somewhat applicable. And those poor saps in the third world shit holes? Many are bona fide slaves.
     

Share This Page

Search tags for this page

content