85 richest people own as much as bottom half of population

[ClosedCaption]

It is more than tax. It is punitive tax.

Yeah well I call it something different. When poorer people pay more in taxes is that also punitive?

I guess it would be since its punishment for not being able to hire an accountant to weasel out of paying taxes and/or hiding money

You are making my point for me without realizing it.

Look at it this way: The cause of unnatural concentrations of wealth is not that the rich are being taxed too little. Therefore, raising tax rates is not the right solution.

Oh no I'm not saying tax them to equal things out. I'm saying why is America in debt while lowering the taxes for the wealthiest while saying we cant raise their taxes because....just because.

The US as a whole is in debt but dont raise taxes because.....because dept isnt important? I dont get it.

 

[hazlnut]

The study found the richest 1% had $110 trillion in wealth

You often hear people say if you took all the wealth of the top one percent, there isn't enough to pay off the debt. They are wrong. Very wrong, as this demonstrates.

But that in no way means anyone is justified in taking that wealth from them. That's the part liberals don't get. But deep in their hearts they know it is wrong to confiscate wealth, and so they find ways to vilify the rich so it feels okay to take from them.

You understand that without a consumer society, a working/spending middle AND lower class, the top 1% would have nothing.

Without government to protect their property, their patents, their copyrights, their interstate commerce -- the top 1% would have nothing.

Without government to organize and create AND maintain an infrastructure, there would be no consumer based economy.

Everyone should pay their fair share. From the 1930's - 1980, the wealthy kicked back into the system that made them rich.

Then came the myth of trickle down economics. Followed by NAFTA and off shore banking and tax havens.

If I can make a billion and get the bulk of it out of the system with minimal taxes and penalties, what incentive do I have to continue to support the consumer-based economy that made me rich? I'm obviously a selfish greedy egoist who cares nothing for my fellow man. Should the U.S. economy collapse, I've taken steps to inure that I'm safe and will survive in comfort while the U.S. and the world digs itself out and rebuilds.

The Walton Kids have a 100 million dollar doomsday shelter. Why? What are they worried about?

With all the money moved offshore by people like Romney, we could rebuild ever school, care for every sick person, house every homeless person, and get the U.S. back on track to paying off the dept.

Those that made billions off our society and economic system feel no obligation to continue to pay their fair share of taxes.

Thus the middle class is getting squeezed like grapes.

 

[g5000]

Yeah well I call it something different. When poorer people pay more in taxes is that also punitive?

I guess it would be since its punishment for not being able to hire an accountant to weasel out of paying taxes and/or hiding money

You are making my point for me without realizing it.

Look at it this way: The cause of unnatural concentrations of wealth is not that the rich are being taxed too little. Therefore, raising tax rates is not the right solution.

Oh no I'm not saying tax them to equal things out. I'm saying why is America in debt while lowering the taxes for the wealthiest while saying we cant raise their taxes because....just because.

The US as a whole is in debt but dont raise taxes because.....because dept isnt important? I dont get it.

We are in debt because everyone takes more than they pay for.

And I mean everyone. It isn't just people on food stamps. It is everyone.

 

[Sallow]

They did it by understanding wealth, they did it because they each had a vision of their respective future that they worked relentlessly toward.

Do you want to discuss a specific individual sam walton, warren buffett, stephen ross or do you want to drone on about how profits are stolen wages

And these folks took on monumental risks. That's part of the equation that's rarely if ever mentioned.

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

 

[ClosedCaption]

You are making my point for me without realizing it.

Look at it this way: The cause of unnatural concentrations of wealth is not that the rich are being taxed too little. Therefore, raising tax rates is not the right solution.

Oh no I'm not saying tax them to equal things out. I'm saying why is America in debt while lowering the taxes for the wealthiest while saying we cant raise their taxes because....just because.

The US as a whole is in debt but dont raise taxes because.....because dept isnt important? I dont get it.

We are in debt because everyone takes more than they pay for.

And I mean everyone. It isn't just people on food stamps. It is everyone.

I agree but since no one wants to raise taxes the conclusion would have to be that the deficit isnt a big deal or that people dont care about it.

Essentially, the US is on fire and people are pointing at it and gasping while the hose is laying on the ground. And people are being told not to touch the hose because thats not right...or something

 

[g5000]

Oh no I'm not saying tax them to equal things out. I'm saying why is America in debt while lowering the taxes for the wealthiest while saying we cant raise their taxes because....just because.

The US as a whole is in debt but dont raise taxes because.....because dept isnt important? I dont get it.

We are in debt because everyone takes more than they pay for.

And I mean everyone. It isn't just people on food stamps. It is everyone.

I agree but since no one wants to raise taxes the conclusion would have to be that the deficit isnt a big deal or that people dont care about it.

Essentially, the US is on fire and people are pointing at it and gasping while the hose is laying on the ground. And people are being told not to touch the hose because thats not right...or something

The US is on fire and everyone is arguing over who started it. No one is proposing the right way to put it out, because as soon as they do, the other party attacks the idea.

We're all going to have to deal with some uncomfortable heat while we put it out, and no one wants to do that. We have become a nation of pussies.

 

[CrusaderFrank]

It is more than tax. It is punitive tax.

Yeah well I call it something different. When poorer people pay more in taxes is that also punitive?

I guess it would be since its punishment for not being able to hire an accountant to weasel out of paying taxes and/or hiding money

You are making my point for me without realizing it.

Look at it this way: The cause of unnatural concentrations of wealth is not that the rich are being taxed too little. Therefore, raising tax rates is not the right solution.

What the fuck is an "Unnatural" concentration?

Is it when it offends you delicate sensibilities?

Was King Solomon "unnaturally" wealthy?

 

[martybegan]

They did it by understanding wealth, they did it because they each had a vision of their respective future that they worked relentlessly toward.

Do you want to discuss a specific individual sam walton, warren buffett, stephen ross or do you want to drone on about how profits are stolen wages

And these folks took on monumental risks. That's part of the equation that's rarely if ever mentioned.

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

So what if they inherited it? It was earned somewhere, and the person that earned it wanted to leave it to their descendants.

Who are you to say you have any more right to that money than they do?

 

[FJO]

They did it by understanding wealth, they did it because they each had a vision of their respective future that they worked relentlessly toward.

Do you want to discuss a specific individual sam walton, warren buffett, stephen ross or do you want to drone on about how profits are stolen wages

Moreover, if all the wealth on Earth were exactly evenly distributed to all individuals, it is a lead pipe cinch that in about ten years all those who had been rich before would be rich again and those who were poor would be poor again, albeit not so rich and not so poor.

 

[ClosedCaption]

Yeah well I call it something different. When poorer people pay more in taxes is that also punitive?

I guess it would be since its punishment for not being able to hire an accountant to weasel out of paying taxes and/or hiding money

You are making my point for me without realizing it.

Look at it this way: The cause of unnatural concentrations of wealth is not that the rich are being taxed too little. Therefore, raising tax rates is not the right solution.

What the fuck is an "Unnatural" concentration?

Is it when it offends you delicate sensibilities?

Was King Solomon "unnaturally" wealthy?

If you have a fucking point make it. Stop with the bullshit questions

 

[KGB]

They did it by understanding wealth, they did it because they each had a vision of their respective future that they worked relentlessly toward.

Do you want to discuss a specific individual sam walton, warren buffett, stephen ross or do you want to drone on about how profits are stolen wages

And these folks took on monumental risks. That's part of the equation that's rarely if ever mentioned.

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

really, & who's money did Steve Jobs, Walt Disney & Jeff Bezos use? Oh, that's right, their own. These successful entrepreneurs & others started their own businesses out of the garage.

Amazing Companies that were Started from a Garage - TheRichest

This class envy & ridiculous notion of "You didn't build that" has to end.

 

[DiamondDave]

'Don't you dare leave anything to your kids and grandkids... THEY don't deserve it, WE DO' - Liberals

 

[SwimExpert]

....

So watchya gonna do about it?

 

[ClosedCaption]

And these folks took on monumental risks. That's part of the equation that's rarely if ever mentioned.

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

really, & who's money did Steve Jobs, Walt Disney & Jeff Bezos use? Oh, that's right, their own. These successful entrepreneurs & others started their own businesses out of the garage.

Amazing Companies that were Started from a Garage - TheRichest

This class envy & ridiculous notion of "You didn't build that" has to end.

If they got it on their own then they obviously didnt inherit it. He's referring to the ones that inherited it. Hence why he used the word "inherited"

Bringing up people who didnt is...well...weird

 

[KGB]

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

really, & who's money did Steve Jobs, Walt Disney & Jeff Bezos use? Oh, that's right, their own. These successful entrepreneurs & others started their own businesses out of the garage.

Amazing Companies that were Started from a Garage - TheRichest

This class envy & ridiculous notion of "You didn't build that" has to end.

If they got it on their own then they obviously didnt inherit it. He's referring to the ones that inherited it. Hence why he used the word "inherited"

Bringing up people who didnt is...well...weird

my point is this....even those who did inherit it came from money earned by the family. Whomever originally built the wealth did so using their own resources. And that money is theirs alone. It doesn't go into some community trust fund.

 

[ClosedCaption]

....

So watchya gonna do about it?

About what?

 

[SwimExpert]

....

So watchya gonna do about it?

About what?

About what you posted in your OP.

 

[Jarhead]

Wait what?

Most of them inherited the money.

Those that took "risks", did so with other people's money.

Those who fail at that seldom suffer any consequences.

really, & who's money did Steve Jobs, Walt Disney & Jeff Bezos use? Oh, that's right, their own. These successful entrepreneurs & others started their own businesses out of the garage.

Amazing Companies that were Started from a Garage - TheRichest

This class envy & ridiculous notion of "You didn't build that" has to end.

If they got it on their own then they obviously didnt inherit it. He's referring to the ones that inherited it. Hence why he used the word "inherited"

Bringing up people who didnt is...well...weird

I worked for many years with my goal being to earn enough so my children would never have to worry about money.

Sadly, I did well, but never came close to my goal.

But if I did...it would have likely meant at a great sacrifice of personal time and health.

That being said, would it be right for the government to take it away from my family upon my death?

 

[auditor0007]

We can argue all we want about wealth redistribution and fair taxes and on and on, along with the ever increasing disparity in wealth. None of it matters or will matter until the top 1% control over 75% of the wealth. Once that happens, then the 75% will confiscate it all. Democracy will collapse, and socialism will take hold. It's a vicious circle. Why is it that communism came about in the first place? Because the wealthy controlled all of the assets, that's why.

 

[CrusaderFrank]

This is why you can't listen to the "You didn't built that!" folks on the economy