Debt is Pushing the US Into Fascism

Andylusion

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Anyone who opposes free public education is close to having a learning disability.

Want to get a hold of debt and deficit? Go after DOD and perpetual warfare.
There is an argument with supporters on the left and right which claims a state of eternal war is the main factor propping up the US dollar?

How the US Wages War to Prop up the Dollar | Ryan McMaken

"At Counterpunch, Michael Hudson has penned an important article that outlines the important connections between US foreign policy, oil, and the US dollar.

"In short, US foreign policy is geared very much toward controlling oil resources as part of a larger strategy to prop up the US dollar. Hudson writes..."
Prove it. Name the oil field in Iraq, that we own, and do not pay a penny for the oil? Or anywhere else.

Totally false.
 

Andylusion

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You filthy lying scum are doing all the pushing.

Yale Historian Warns: Trump Will Try To Stage A Coup And Overthrow Our Democracy

When push comes to shove, will you pick Trump or Democracy?
Do you not realize that you just proved everything they said about you, is true?

Historian warns that Trump will try to stage a coup, and overthrow our democracy?

We were never a democracy anyway. We are a Representative Republic. Clearly Yale historians, are pretty stupid people.

You really think Trump is going to stage a coup.... really? really, you are that dumb?
 

Andylusion

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Not exactly.

The Wallenberg family, which is huge... at one point in time, controlled 40% of the Capital in all of Sweden.

Today, Sweden is far more Capitalist than in the past.


The reason more Swedes own more of the wealth in the country, is because Capitalism allowed them to do so.

Under socialism, only the elites had the wealth.

So you might ask, why does the US have such a different picture than Sweden today?

Well, there are a couple of reasons, and all of them are really simple.

1. People invest more.

I have specifically have told you multiple times, that if the middle and lower class, want to have more of the wealthy, the way to do that, is simply....... invest more into making wealth. Buy stocks. Buy investments.

Then you point to Sweden, and suggest it has something to do other than capitalism? No, it is specifically because of capitalism that the lower and middle class own more of the wealth of the country.


76% of all Swedes, invest money into investment funds. If 76% of Americans were investing into stocks... we would have a similar looking pie chart.

The Swedes are doing, exactly what I told you the public needs to do, to get more of the wealth in the country. BUY STOCKS. Go fund your 401K and IRA. That's what the Swedes are doing, and that's why they have a larger share of the wealth.

2. They get better jobs. It's that simple. Swedes are not getting education in Gender Studies, or Art History, or Community Organizing. They are getting degrees in engineering, software programming, and other things that have a value.

Thus, they earn more than Americans who get a degree in Lesbian Dance Theory, and work at burger king.

They also have lower levels of immigration. Immigration results in low wage workers.

Those are the two reasons for your pie chart.
 

Andylusion

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Now that is absolutely ridiculous.

Name one.... just one... that wouldn't be rich, and provide clear proof of that.

All of them would be rich.
If the CBO's analysis is correct and some US taxpayers have failed to pay "hundreds of billions of dollars" in taxes, it follows they would all be less rich than they are today and some would not be rich period.
No. That shows a lack of understanding.

Warren Buffet makes $100,000 a year. That is his actual salary.
Warren Buffet also has $9 Billion in stocks in Berkshire Hathaway, which does not pay dividends.

If you increased taxes by 10%, or 20%, or 50% on the top marginal rate.... that would cost Warren Buffet ZERO. Because he doesn't collect a salary high enough to pay the top marginal rate.

Further.... Even if you increase taxes on salaries under $100,000.... so that Warren Buffet had to pay higher taxes on his $100,000 income...

What does that do to the shares in Berkshire Hathaway he owns?

Nothing.

I would assume you own a house. If you don't, for the sake of argument, lets say you did.

If the government increased your taxes by 5%.... would that change the fact you own a house? Would it change how much that house was worth?

No.

Nothing the government does changes the wealth you own.

This is why socialist try and push a wealth tax. Because CEOs now often take a $1.... one dollar salary, to avoid taxes. All the income taxes in the world won't hurt them. Because they own the company.

Socialists eventually figure that out, and try to put in place a wealth tax.

But even then... the wealthy simply leave. Thousands of French wealthy people, left France, to avoid the wealth tax.

Are you seeing the problem? "If the government only taxed them more, then they wouldn't be wealthy"...... right, that assumes those people are not going to react to the tax.

No one is going to have their taxes dramatically increased, and just.... accept that. They are going to move their wealth to where it won't be taxed. Or they are going to find tax shelters to invest in. Or they will leave the country.

They will always still be wealthy. None of them are going to end up poor, or middle class, because you passed a tax law. Not going to happen. Never has in the history of the world.
 

Andylusion

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If there were no financial sector, how do people get loans to build things?
Public banks can afford every service as private banks at a fraction of the cost:

Speculators Were Hung in the 17th Century. Ah, 'The Good Old Days'

"The Bank of North Dakota, the vision of socialists from a century ago, has been in operation for 90 years.

"It offers the state’s farmers and businesses low interest rates on loans.

"After floods destroyed much of Grand Forks in 1997 the bank provided a six-month moratorium on mortgage payments and gave low-interest loans to the community to rebuild, a sharp contrast with the raw exploitation that marked the arrival of Wall Street bankers and speculators in Gulf Coast areas hit by Hurricane Katrina."
So you are going to tax the public, to fund a bank, that will give the public a loan. So I lose all my money in taxes, so the government run bank can give me a loan, using the money it taxed out of my pocket?

Fail.
 
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georgephillip

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If that is economicaly true, georgephillip, we are fucked.
Apparently, a global reserve currency comes with benefits and liabilities?
Reserve currency - Wikipedia

A Primer On Reserve Currencies).
  • "A reserve currency is a globally-recognized national currency commonly used in international trade and global finance.
  • For instance the British pound was once the world's de facto reserve currency, while today the U.S. dollar and Euro are regarded as reserve currencies.
  • Having reserve currency status has both benefits (such as lower exchange rate risk and greater buying power) and drawbacks (such as artificially low interest rates that can spur asset bubbles)."
 
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georgephillip

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I thought profit was evil? No one should make money from the means of production, eh comrade?

"They produce nothing.

"They make nothing.

Fictitious capital - Wikipedia.

"Fictitious capital could be defined as a capitalisation on property ownership. Such ownership is real and legally enforced, as are the profits made from it, but the capital involved is fictitious; it is 'money that is thrown into circulation as capital without any material basis in commodities or productive activity'"
 

Toddsterpatriot

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If that is economicaly true, georgephillip, we are fucked.
Apparently, a global reserve currency comes with benefits and liabilities?
Reserve currency - Wikipedia

A Primer On Reserve Currencies).
  • "A reserve currency is a globally-recognized national currency commonly used in international trade and global finance.
  • For instance the British pound was once the world's de facto reserve currency, while today the U.S. dollar and Euro are regarded as reserve currencies.
  • Having reserve currency status has both benefits (such as lower exchange rate risk and greater buying power) and drawbacks (such as artificially low interest rates that can spur asset bubbles)."
Everyone wants dollars, no one wants Russian Rubles, Cuban Pesos, Venezuelan Bolívars.....weird.
 

Toddsterpatriot

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I thought profit was evil? No one should make money from the means of production, eh comrade?

"They produce nothing.

"They make nothing.

Fictitious capital - Wikipedia.

"Fictitious capital could be defined as a capitalisation on property ownership. Such ownership is real and legally enforced, as are the profits made from it, but the capital involved is fictitious; it is 'money that is thrown into circulation as capital without any material basis in commodities or productive activity'"
Such ownership is real and legally enforced, as are the profits made from it, but the capital involved is fictitious;

You should try to get some of that fictitious capital.
You've certainly failed at getting the real stuff.
 
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georgephillip

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Goldman sachs provided the bond investments that Greece requested.

If Goldman Sachs had not done this, the Greek government would have imploded years before they did.
If Goldman Sachs hadn't used a fictitious market exchange rate to distort Greek economic problems, the country would never have been eligible to join the EU.

Would Greeks be better off today if they had maintained a sovereign currency?


How Goldman Sachs Profited From the Greek Debt Crisis.

"In 2001, Greece was looking for ways to disguise its mounting financial troubles.

"The Maastricht Treaty required all eurozone member states to show improvement in their public finances, but Greece was heading in the wrong direction.

"Then Goldman Sachs came to the rescue, arranging a secret loan of 2.8 billion euros for Greece, disguised as an off-the-books 'cross-currency swap'—a complicated transaction in which Greece’s foreign-currency debt was converted into a domestic-currency obligation using a fictitious market exchange rate."
 
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georgephillip

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This is one of the oddest aspects of left-wing ideology. You demand to borrow and spend money.... then you do so.... and then when your system crashes, you blame the people who allowed you to borrow and spend money.
Leftists understand when most international loans are made the money goes to corrupt elites who then hide the funds in off-shore tax havens while the majority of citizens of the country receiving the loans are expected to pay back the debts or privatize their public infrastructure.

We let finance rip and flogged our assets. Austerity was bound to follow | Will Hutton
 

Toddsterpatriot

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This is one of the oddest aspects of left-wing ideology. You demand to borrow and spend money.... then you do so.... and then when your system crashes, you blame the people who allowed you to borrow and spend money.
Leftists understand when most international loans are made the money goes to corrupt elites who then hide the funds in off-shore tax havens while the majority of citizens of the country receiving the loans are expected to pay back the debts or privatize their public infrastructure.

We let finance rip and flogged our assets. Austerity was bound to follow | Will Hutton
Leftists understand when most international loans are made the money goes to corrupt elites who then hide the funds in off-shore tax havens while the majority of citizens of the country receiving the loans are expected to pay back the debts or privatize their public infrastructure.

Is that why leftists are always pushing for less government spending?
Always pushing for less government borrowing?

DURR
 
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georgephillip

georgephillip

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You can't force people to pay high taxes. They simply won't. Why do you think Hugo Chavez had to confiscate farms, and stores, and company factories?

You can't get people to give you all their hard earned money. You can't. They won't do it.
You continue to labor under the delusion people are morally entitled to their pre-tax income; they aren't. Rich people in particular would have much smaller fortunes if they didn't depend on government for courts, naval forces, roads, and public education.

"Free" markets do not automatically distribute income in a just manner, and all you need for living proof of that fact is to look critically at the parasite currently living in the White House.

Finally, if you provide the right incentive (your money or your freedom) rich people will pay their fair share of taxes, or they will find out how Rich Jeff felt just before his well-deserved demise.:)
 

Toddsterpatriot

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You can't force people to pay high taxes. They simply won't. Why do you think Hugo Chavez had to confiscate farms, and stores, and company factories?

You can't get people to give you all their hard earned money. You can't. They won't do it.
You continue to labor under the delusion people are morally entitled to their pre-tax income; they aren't. Rich people in particular would have much smaller fortunes if they didn't depend on government for courts, naval forces, roads, and public education.

"Free" markets do not automatically distribute income in a just manner, and all you need for living proof of that fact is to look critically at the parasite currently living in the White House.

Finally, if you provide the right incentive (your money or your freedom) rich people will pay their fair share of taxes, or they will find out how Rich Jeff felt just before his well-deserved demise.:)
You continue to labor under the delusion people are morally entitled to their pre-tax income;

More than than you are morally entitled to any of my income.

"Free" markets do not automatically distribute income in a just manner

Who lied and told you they were supposed to "distribute income in a just manner"?
 
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georgephillip

georgephillip

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For decades the tax rate on the rich was HIGHER... and the actual amount of taxes collected was LOWER.
How many rich tax evaders were charged with a crime?
How many were convicted?
How many received a 25 year-to-life sentence for the first conviction for tax cheating?
Start filling US prisons with the richest one percent of criminals, and you will see record levels of tax revenue.
Start here:

Opinion | Trump Is a Bad Businessman. Is He a Tax Cheat, Too?
 
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georgephillip

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Unions are like ticks, sucking blood from the butt of working people. They do nothing.... but suck down our money, and live on the backs of our blood sweat and tears.
Your fealty to private wealth is disgusting.
  • "Unions raise wages of unionized workers by roughly 20% and raise compensation, including both wages and benefits, by about 28%.
  • Unions reduce wage inequality because they raise wages more for low- and middle-wage workers than for higher-wage workers, more for blue-collar than for white-collar workers, and more for workers who do not have a college degree.
  • Strong unions set a pay standard that nonunion employers follow. For example, a high school graduate whose workplace is not unionized but whose industry is 25% unionized is paid 5% more than similar workers in less unionized industries.
  • The impact of unions on total nonunion wages is almost as large as the impact on total union wages.
  • The most sweeping advantage for unionized workers is in fringe benefits. Unionized workers are more likely than their nonunionized counterparts to receive paid leave, are approximately 18% to 28% more likely to have employer-provided health insurance, and are 23% to 54% more likely to be in employer-provided pension plans.
  • Unionized workers receive more generous health benefits than nonunionized workers. They also pay 18% lower health care deductibles and a smaller share of the costs for family coverage. In retirement, unionized workers are 24% more likely to be covered by health insurance paid for by their employer.
  • Unionized workers receive better pension plans. Not only are they more likely to have a guaranteed benefit in retirement, their employers contribute 28% more toward pensions.
  • Unionized workers receive 26% more vacation time and 14% more total paid leave (vacations and holidays)."
How unions help all workers
 
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georgephillip

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If your parents are druggies, and are failing to feed their kids, because they blow all their welfare money and food stamp money on drugs.....

That's not Capitalism fault, or Americas fault, or Jeff Bezo fault, or anyone's fault.... except perhaps the people who want to legalize drugs, and stop law enforcement.... which is basically the entire left-wing.
If your parents were born in poverty based on the color of their skins, it is indeed capitalism's fault. Your country became rich from chattel slavery and genocide and no amount of denial on your part will change that. BTW, the real drug problem in this country stems from the laws more than the drugs, Legalize all the popular recreational drugs and devote their profits to drug education and you'll eliminate the problem without imprisoning millions of citizens.
 

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