A Modest Proposal...

[BackAgain]

I don't know how to reply to someone that believes business can just print money.

You don’t know how to discuss what constitutes the “creation of wealth.”

Hint: it has literally nothing to do with printing money.

 

[fncceo]

I don't know how to reply to someone that believes business can just print money.

Printing money is not creating wealth. Wealth can only be created by commerce. Adding value to goods and services by making them available to the marketplace.

Printing money to add to the existing money in circulation merely devalues that currency, it is not generating wealth.

 

[BothWings]

Back in the 90's Vlad Putin introduced the flat rate income tax to Russia, none of this variable bracket crap. We should have something like that here too.

 

[B. Kidd]

Interest on the debt is only 400 billion yearly!!
When talking trillions, it's a F'in steal!

 

[sparky]

I don't know how to reply to someone that believes business can just print money.

>>>>

~S~

 

[sparky]

the best part being there's no government or bank, or centralization

~S~

 

[fncceo]

No worries, we will just ask Congress to pass your idea into legislation

Easy Peasy.

It actually is easy. We, as a people, have to make a decision to elect people who won't play fast and loose with OUR money.

The entire Congress could be replaced in just four years.

The harder change to make is for us to stop believing we need government to provide us what we want. We need to stop saying, "The government needs to do something about _______" every time we see a problem.

We don't have to continue doing what we've done before. We just have to make a decision to change.

As long as we continue to elect the same people over and over, we will continue to have the same issues. We can't blame Congress for our own mistakes.

 

[candycorn]

Last year, 105 Billion in income tax was collected from US Corporations. 10% of all tax revenues.

That doesn't include sales taxes collected on their product.

Collectively, both sales tax and corporate taxes represents a tax on consumers because they can only be paid by those same companies raising prices on goods and services to account for the loss in revenue.

$105 Billion. That's amazing <sarcasm>. That is roughly equivalent to what Target made last year. Target. Not Amazon. Not Walmart, not McDonalds...Not ford, not GM or dozens of other companies that are much bigger.


The products are supplied by corporations that don't pay taxes, have offshored their operations (as much as they legally can) to other nations, and have lobbied Congress to screw the workers in every way possible.

 

[pknopp]

You don’t know how to discuss what constitutes the “creation of wealth.”

Hint: it has literally nothing to do with printing money.

I posted a link how it was created. You decided to not discuss that.

 

[pknopp]

Printing money is not creating wealth. Wealth can only be created by commerce. Adding value to goods and services by making them available to the marketplace.

Printing money to add to the existing money in circulation merely devalues that currency, it is not generating wealth.

Printing money is why we have billionaires. Granted a billion is not worth what a billion once was.

 

[BackAgain]

I posted a link how it was created. You decided to not discuss that.

You posted gibberish.

Printing money doesn’t creat wealth. Workers and laborers don’t create much wealth either. Raw materials and physical plants don’t. But a businessman with a genuine product or service, they create lots of wealth. And the cool thing is the entire process then spreads and multiplies the wealth.

You appear to be incredibly dull.

 

[JoeB131]

Are We Headed for a Hyperinflation?

Is the U.S. risking a devalued currency and uncontrollable inflation by printing so much money? Learn about hyperinflation and if we should worry.

www.investopedia.com

 

[Care4all]

There is a lot of talk about the rich paying their "fair share".

But, instead of squeezing more money out of those who create the wealth, we start getting it back from those who spend it.

If a Billionaire's spouse is pissing away their money, do you punish the Billionaire, or the spouse?

The Roman Senate was made of rich men, well-connected men, who could only control with the will of their constituents. In order to get get the good will of those people, they created public works and welfare programs with their own money. That money kept them in power and allowed them to keep the people happy while they got their slice of every deal.

Our modern-day legislators have improved on that situation. They don't use their own money to buy our obedience ... they use OUR OWN MONEY. We are actually paying them, to give us things we want and they take their cut of the "gifts" they bestow on us.

Here is a proposal. Instead of increasing taxes on the rich, or the middle class, or the poor, or "corporations" ... we institute a tax on the people actually pissing our money away ... members of Congress.

So, I propose we tax every member of Congress $10 for every million dollars they propose adding to the budget. Every time a legislators proposes we build a Billion dollar train or give a Billion dollars to soy farmers, that legislator gets taxed $10,000.

In 2022, the US Budget expenditure was just over $6.3 TRILLION, or $6,300 BILLION, or $6,300,000 MILLION.

$6.3 TRILLION of our money spent by them on things we demand (and a lot of thing we don't).

There are currently 535 legislators in both houses of Congress. If they collectively propose a $6.3 TRILLION budget, each of them (if they make equal demands on the taxpayer's wallet) gets taxed $117,757 ... or $63,000,000 annually from Congress. The more pork a Congress-person slips into the budget, the more tax he or she pays. Budget conscious and fiscally responsible legislators pay less tax.

labor creates the wealth.... not the rich.

 

[BackAgain]

labor creates the wealth.... not the rich.

Labor alone certainly does not create wealth. Stop being so dim witted.

 

[Care4all]

Labor alone certainly does not create wealth. Stop being so dim witted.

There is no wealth created, without the backs of laborers.

President Abraham Lincoln

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if Labor had not first existed. Labor is superior to capital, and deserves much the higher consideration.—Abraham Lincoln

If any man tells you he loves America, yet hates labor, he is a liar. If any man tells you he trusts America, yet fears labor, he is a fool.—Abraham Lincoln

I am glad to see that a system of labor prevails under which laborers can strike when they want to.—Abraham Lincoln

That we may fail in the struggle ought not to deter us from the support of a cause we believe to be just.—Abraham Lincoln

 

[BackAgain]

There is no wealth created, without the backs of laborers.

President Abraham Lincoln

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if Labor had not first existed. Labor is superior to capital, and deserves much the higher consideration.—Abraham Lincoln

If any man tells you he loves America, yet hates labor, he is a liar. If any man tells you he trusts America, yet fears labor, he is a fool.—Abraham Lincoln

I am glad to see that a system of labor prevails under which laborers can strike when they want to.—Abraham Lincoln

That we may fail in the struggle ought not to deter us from the support of a cause we believe to be just.—Abraham Lincoln

There is no wealth created without labor AND capital and resources and the minds of creative businessmen to put the ingredients all together.

Quoting Abe doesn’t alter that fact.

 

[fncceo]

labor creates the wealth.... not the rich.

If that's were true, ditch diggers and gardeners would be LIVING in mansions and not working at them.

Labor is often a component of wealth generation, but not the impetus behind it. At the most basic level, the components to creating wealth are intellectual property, capital, labor, and a market.

To create wealth, you have to turn a low-value item into a high-value item.

This could be as simple as a caveman trading flint tools for food (or a cavewoman providing XXX for food).

It could involve sending ships to India to bring back pepper -- which, at one time, was more valuable than gold. An inventive genius came up with how to get to India, investors bought the ships and paid for crews that provided the labor, Europeans tired of rancid tasting meat provided the market, and the King took a share of every haul.

Often, wealth can be generated by improving an existing item and therefore creating more demand, automobiles replacing buggies.

Another way to create wealth is to create an entirely new demand ... something that didn't exist before. Personal computers, mobile phones, airplanes, social media are all examples of this.

Yes, the all required labor to bring to market ... but the labor itself would have been pointless without the other components, the first of which is ALWAYS the intellectual property.

 

[Care4all]

If that's were true, ditch diggers and gardeners would be LIVING in mansions and not working at them.

Labor is often a component of wealth generation, but not the impetus behind it. At the most basic level, the components to creating wealth are intellectual property, capital, labor, and a market.

To create wealth, you have to turn a low-value item into a high-value item.

This could be as simple as a caveman trading flint tools for food (or a cavewoman providing XXX for food).

It could involve sending ships to India to bring back pepper -- which, at one time, was more valuable than gold. An inventive genius came up with how to get to India, investors bought the ships and paid for crews that provided the labor, Europeans tired of rancid tasting meat provided the market, and the King took a share of every haul.

Often, wealth can be generated by improving an existing item and therefore creating more demand, automobiles replacing buggies.

Another way to create wealth is to create an entirely new demand ... something that didn't exist before. Personal computers, mobile phones, airplanes, social media are all examples of this.

Yes, the all required labor to bring to market ... but the labor itself would have been pointless without the other components, the first of which is ALWAYS the intellectual property.

Yes, they all required labor to bring to market

Wealth can not be created WITHOUT labor, is the bottom line....imo.

Labor is the most critical part, in most all cases....

We should be treated better, sit at the negotiating table higher, and be able to accumulate (be paid) some of that wealth that we produced for the investor.

 

[pknopp]

Sadly as we see in so many economic threads what we mostly get is economic theories, not what is actually happening.

People pretending the Federal Reserve didn't just create trillions out of nothing.

 

[Care4all]

Sadly as we see in so many economic threads what we mostly get is economic theories, not what is actually happening.

People pretending the Federal Reserve didn't just create trillions out of nothing.

That way since we got off the gold standard, no?

It's the beastly system that we are on....

My question is, what can we, you and me, and the rest of the sane, do about it?

How can we rid ourselves of this beast? Sure, we can try to curtail the easy button of printing more money, but truly, that's been a lost cause....we are failing! We can't even tame the beast, let alone slaughter him, without a replacement system.....

And what would that be?