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A simple economic lesson... raise capital gains to 43% will do what?

Rigby5

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I’m a bit late to the party buts always amazed me leftists want to tax the people making products more, increasing the price of that item, then can’t figure out why the poor who need those products to live can never get ahead. It’s mind boggling stupid in action.

The problem is not taxes, but that those employed to make the products only get about 15% if of the profits.
Those who get the majority of the profits did nothing but use their credit reference.
There are very few CEOs like Elan Musk who have any imagination.
 

Markle

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The problem is not taxes, but that those employed to make the products only get about 15% if of the profits.
Those who get the majority of the profits did nothing but use their credit reference.
There are very few CEOs like Elan Musk who have any imagination.
Why is someone who stands for eight hours a day making widgets, entitled to part of the profits? IF the widget-maker is entitled to any part of the profit, are they not also entitled to forego their pay when the market slows? How many of those same workers would show up and work diligently when they have no income at the end of the week?

For the vast majority of my life, I worked strictly on commission or owned a business. Not a lot of folks are willing to take that risk and responsibility. Most folks would rather make a fraction of my earnings but KNOW it was going to be there at the end of the month. They didn't have to worry about their taxes, health insurance, SS, Medicare whatever. It doesn't make one better than the other, just different.
 

Rigby5

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Why is someone who stands for eight hours a day making widgets, entitled to part of the profits? IF the widget-maker is entitled to any part of the profit, are they not also entitled to forego their pay when the market slows? How many of those same workers would show up and work diligently when they have no income at the end of the week?

For the vast majority of my life, I worked strictly on commission or owned a business. Not a lot of folks are willing to take that risk and responsibility. Most folks would rather make a fraction of my earnings but KNOW it was going to be there at the end of the month. They didn't have to worry about their taxes, health insurance, SS, Medicare whatever. It doesn't make one better than the other, just different.

If we go with the risk rewarding ethic, then criminals deserver the greatest rewards of all, and we should not be punishing them.
 

Markle

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If we go with the risk rewarding ethic, then criminals deserver the greatest rewards of all, and we should not be punishing them.
Isn't that what the far-left is doing? No cash bail, etc, etc, etc? Defund the police? Folks going into stores, loading up carts full of merchandise, casually carrying it all out to their cars?
 

Admiral Rockwell Tory

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It’s been shown many times the ultra rich don’t pay anywhere near the tax rates of the non-rich. The tax code was developed over time for their benefit. Their tax accountants are very good at tax avoidance.

Time for them to pay up BIG, to make up for the decades in which they paid very little.
So you want to kill my retirement in the process? Did you actually read the OP's post are were you too busy with your Das Kapital?
 

Tipsycatlover

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The highest bracket in the 50's was 90% during one of the greatest economic booms in American history. That was deemed fair.

The "hard working Americans" that you are referring to will not feel a tax increase. You somehow conflate the wealthiest of Americans with the "hard working Americans". It's pretty amazing.
The economy boomed in the 50s in spite of high taxes not because of high taxes. Europe was a wasteland. Japan, a cinder. China filled with starving people and rickshaws. The United States had the only functional manufacturing base. The hard working Americans, the poor, will be the only ones to feel a tax increase pinch. It is a delusion to think that companies will pay tax increases without increasing prices. With every increase, prices go up. It's called indirect taxation. No matter how many times this tax garbage is shoveled out, some people still still swallow it.
 

Rigby5

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So you want to kill my retirement in the process? Did you actually read the OP's post are were you too busy with your Das Kapital?

A large capital gains increase would wipe me out at well.
I bought real estate with my 401k by setting it up as self directed LLC.
Now I would like to live in a property the LLC owns, but I can't do that until I pay all the taxes on it, and that would be a huge hit if I tried to do it all in one year and they raised the rate.
 

Rigby5

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Wall Street did not "fail". Economics are beyond your ability.

I don't remember Wall St failing, but banks giving out lots of adjustable rate mortgages based on the British LIBOR.
Then when Bush borrowed so much that credit tightened up and a recession started, then interest rates based on the US prime went down, but those based on the British LIBOR went way up, nearly doubling.
Causing millions of defaults.
So then banks and auto makers were hit bad and needed bailing out.
The banks were almost like Wall St. because they were creating and trading toxic derivatives based on very speculative mortgages.

What made me the most mad is they did not bail out the innocent home owners who were defaulting, but the banks who were responsible.
 

gipper

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SavannahMann

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Wall Street did not "fail". Economics are beyond your ability.

Really? Awesome. So the whole we have to Pass TARP and give the Treasury a Trillion Dollars to save the economy of the world was just a figment of my imagination? Awesome.
 

pknopp

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The Fed did. They hold more of our debt than China. They print money and then charge us interest to borrow what they printed out of thin air.

And that is what causes the inflation and you are going to complain because those at the bottom need more to keep up?
 

Blues Man

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Wow. Really? It means every other industrialized nation has more equitable pay. Now of course I'm guessing you are the type that will reply "dont let the door hit you on the way out" instead of actually wanting to improve America. So this is probably where our conversation ends.
Why do you assume that if one person makes less money that others will make more?
 

jc456

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I don't remember Wall St failing, but banks giving out lots of adjustable rate mortgages based on the British LIBOR.
Then when Bush borrowed so much that credit tightened up and a recession started, then interest rates based on the US prime went down, but those based on the British LIBOR went way up, nearly doubling.
Causing millions of defaults.
So then banks and auto makers were hit bad and needed bailing out.
The banks were almost like Wall St. because they were creating and trading toxic derivatives based on very speculative mortgages.

What made me the most mad is they did not bail out the innocent home owners who were defaulting, but the banks who were responsible.
so if wall street didn't fail, why did Banks need to be bailed out?
 

jc456

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And that is what causes the inflation and you are going to complain because those at the bottom need more to keep up?
indeed, so why are our politicians handing out freebies?
 

hadit

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There has never been a CEO in the US who was worth a tenth what they are paid.
Look at Bill Gates, he does not even know how to program, and pirated and patched the worst operating system in the world.
He produces a product people want to use. That's all that's necessary. Of course, they will eventually become too big to innovate and will be replaced by something else.

The bottom line is, your personal opinion of CEO's means nothing. If the board that hires them thinks they're worth the money, that's what they'll get paid. Tell you what, why don't you boycott every American company that has a CEO until they all cut their pay to a tenth what it is now?
 

dblack

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There has never been a CEO in the US who was worth a tenth what they are paid.

It would seem the people who paid them felt differently. But you're entitled to your opinion.
 

DBA

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why do sports figures make more than all of them? There is an answer, one you're far to ignorant to understand.

Notice they NEVER answer this question.
 

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