Debunking Liberal Myths About the Rich and the Capital Gains Tax

Not everyone has the luxury of being "industrious". In capitalism you need capital to make more capital, it's not designed for hard-working laborers. It's the working class that produces everything in this world, not parasite capitalists who want to live off of other people's hard work.

Holy wingnut propaganda, Batman. Many, many rich people started off either dirt poor or as average middle class folks and then gradually earned their fortune through hard work and ingenuity.

The working class would be able to produce very little if there were not successful people with the means to build factories and other means of production. Who pays the salaries and benefits of the working class, hey? If a successful company does not build a factory, there will be no jobs to fill at the factory because the factory will not exist. It is not either/or. You need both investors and workers.
 
Educate yourself:



Without government, we wouldn't have computers, smartphones, the internet..etc. You're quite ignorant. The Soviets actually invented the first mobile phones:


a8d00522499e320e779bca1f43e34971b3cd30d2r1-872-983v2_uhq.jpg
 
I'm pretty sure the reason the capital gains tax exists is to produce tax revenues from everyone who invests their money in anything. There are orders upon orders of magnitude more common folk money in the market than there is company executive money because there are orders upon orders of magnitude more common folks than company executives.
A Capital Gain is income
Income is taxed
 
Holy wingnut propaganda, Batman. Many, many rich people started off either dirt poor or as average middle class folks and then gradually earned their fortune through hard work and ingenuity.

The working class would be able to produce very little if there were not successful people with the means to build factories and other means of production. Who pays the salaries and benefits of the working class, hey? If a successful company does not build a factory, there will be no jobs to fill at the factory because the factory will not exist. It is not either/or. You need both investors and workers.

Holy wingnut propaganda, Batman. Many, many rich people started off either dirt poor....

The odds of someone becoming a millionaire who is born poor are quite rare. If you're born into poverty, odds are that at best you'll just be another member of the working class, selling your labor power (your life) to a capitalist.

or as average middle class...

Bezos, Musk, and practically all of them, were either born into wealth or into an upper-middle class family, that provided them with plenty of resources, even a large "donation" or "family grant" as much as $300K. Trump and his children are in another category, they get millions to start businesses. All of this is irrelevant. Capitalism is a system comprised of two socioeconomic classes, namely, owner-capitalists/exploiters (A.K.A. "Masters" according to Adam Smith, the father of capitalism), and exploited workers.

folks and then gradually earned their fortune through hard work and ingenuity.

That's the mythology. They did it by exploiting the labor of others or with plenty of assistance from the government, other people's money, and teams of people working for them.

The working class would be able to produce very little if there were not successful people with the means to build factories and other means of production.

The working class produces everything and doesn't need capitalists. Capitalists are a parasite class, living off of other people's hard labor. The working class (94% of the population), could easily take ownership of the mines, factories..etc (the means of production), and manage it through their government, under their authority.

The capitalists need the working class more so than the working class needs capitalists. Who do you think purchases the products and services that capitalists sell? The working class. They purchase everything with their wages. There's no reason why the government can't become the employer and take all of those profits and deposit it in the public treasury.

Now due to advanced automation and artificial intelligence, we're going to have to adopt a non-profit, marketless, more democratic system of mass production, that is centrally planned, under the authority of the working class. Capitalism is going to collapse due to a lack of wage labor.


Who pays the salaries and benefits of the working class, hey?

The capitalist exploiters or "masters". The parasites pay the salaries and benefits of their employees/exploitees, and then those employees, take that money and purchase the products and services sold by the capitalists. Under capitalism, there's a symbiotic relationship between the working class and the capitalists, however, the working class is superior to the capitalist owner-class. Even Abraham Lincoln understood this:

lincoln-labor-capital.jpg


The labor class or those who actually do the work, are the true producers, not the capitalist leeches who exploit them. Like I mentioned earlier, the working class are at least 94% of the population and they could easily make their democratic government their employer, nationalizing all of the major centers of economic power. They could place all of the mines, resources, factories, robots, artificial intelligence, supercomputers..etc, in the hands of the public (publicly owned), and tell the parasite capitalists to go EF themselves.

Private property would be rendered illegal, and only personal property would be permitted. Private property is all property that is used to exploit other human beings for a profit. Personal property, is all property that is for personal use, like your house, car, computer/s, phone/s, toothbrush, AR15 collection..etc. Democratic communism is the natural, inevitable successor of capitalism, just as capitalism was the successor of feudalism and chattel slavery.



If a successful company does not build a factory, there will be no jobs...

You're quite confused, for the aforementioned reasons, that I just explained. Capitalists are worthless middlemen and parasites. The working class could maintain a type of capitalist system that relies on labor-cooperatives or business enterprises that are owned and operated by the people who work the business. The working class can also eliminate all markets and for-profit production and simply centrally plan it using the latest technology, through their government. The government, of course, would be under the authority of the working class, through its worker-democratic-councils.

to fill at the factory because the factory will not exist. It is not either/or. You need both investors and workers.

You need a government and workers, or worker cooperatives, not necessarily capitalists. You've been hoodwinked by your capitalist masters. I as a member of the working class, would prefer to have a democratic socialist government that holds elections and deposits the profits in the public treasury, as my boss and employer than a capitalist dictator, who takes the profits and deposits it in his own personal checking account. That's a no-brainer.

Now due to advanced automation and artificial intelligence, there's absolutely no need or excuse for capitalism. It will collapse due to lack of wages. No wage-labor = no capitalism. Do I need to elaborate as to why that's the case? Think.
 
Last edited:
/---/ I agree mostly, but it was the railroad tycoons who built the railroad system, including the Transcontinental Railroad.

The Central Pacific’s “Big Four”—Stanford, Collis P. Huntington, Mark Hopkins, and Charles Crocker—figured out how to tap into government coffers to finance a business that otherwise wouldn’t have been possible. As Richard White, author of Railroaded: The Transcontinentals and the Making of Modern America, says, “They put little of their own money in it —they didn’t have much. It was built on land grants, government loans, and government-guaranteed bonds. When their loans came due, they refused to pay and the government had to sue. In effect, they stumbled into a business model where the public takes the risk and those taking the subsidies reap the gain.”

Sounds familiar still today.

10 Ways the Transcontinental Railroad Changed America | HISTORY

The first Chinese railroad workers (a team of 21 men) arrived in the United States in 1864; ultimately, it’s estimated that some 20,000 Chinese laborers participated in the project, making up the majority of the workforce. Most came from China’s southern Guangdong province, fleeing their country’s Opium Wars. They were joined in the effort by African Americans, Irishmen and smaller numbers of Native Americans and Mormons (now referred to as members of the Church of Jesus Christ of Latter-day Saints).

They brought in cheap labor from other countries. Still sounds familiar today.

To facilitate the railroad’s passage through the nation’s central and western regions, the government granted millions of acres of land to the railroad companies that actually belonged to tribal nations.

The Transcontinental Railroad's Dark Costs: Exploited Labor, Stolen Lands | HISTORY
 
Says people in the know.


STUDY SUMMARY​

  • Eight out of 10 millionaires invested in their company’s 401(k) plan.
  • The top five careers for millionaires include engineer, accountant, teacher, management and attorney.
  • 79% of millionaires did not receive any inheritance at all from their parents or other family members.

 
And the "Liberal Myth" is?
/---/ And the "Liberal Myth" is that the rich don't pay their fair share when, in fact, they pay 60% of the taxes, while the lower 49% pay little or nothing in income tax. Hope that answeres your question.
 
/---/ And the "Liberal Myth" is that the rich don't pay their fair share when, in fact, they pay 60% of the taxes, while the lower 49% pay little or nothing in income tax. Hope that answeres your question.
They pay 60 percent of the taxes while they have 80 percent of the wealth shifting the tax burden to working Americans

They also have an army of lawyers and accountants to show as little “income” as possible
 
/---/ And the "Liberal Myth" is that the rich don't pay their fair share when, in fact, they pay 60% of the taxes, while the lower 49% pay little or nothing in income tax. Hope that answeres your question.

Taxpayers gave Tom Brady nearly a million dollars. Shouldn't he be expected to contribute more to the debt than the person who got $2000?
 
/---/ And the "Liberal Myth" is that the rich don't pay their fair share when, in fact, they pay 60% of the taxes, while the lower 49% pay little or nothing in income tax. Hope that answeres your question.
Not really. There are plenty of "taxes" other than federal income and capital gains to consider. And what do you mean by "fair share"?
 
THE MARKET IS OWNED BY THE WEALTHY AND THE LAWS THAT MAKE CAP GAINS UP TO 2 1/2 TIMES LESS interest rate then INCOME. PROVES IT
Incorrect. The market is "owned" by all the investors who have money invested in it.

Do YOU have money in the equity markets?
 
/——/ “Orders upon orders of magnitude…”
I can’t stop laughing. 🤣 I’ll have some ranch dressing with your word salad. 🤣. And don’t forget the common folk😂
Glad I could make you laugh. Do YOU have money invested in equity markets?
 
15th post
The odds of someone becoming a millionaire who is born poor are quite rare. If you're born into poverty, odds are that at best you'll just be another member of the working class, selling your labor power (your life) to a capitalist.
Not as rare as you make it seem. Today, there are about 23 million households that we can call Millionaires. Why, working, investing, 401Ks. I changed jobs about 4 years ago. With 401K, profit sharing, my 401K with this organization is almost 100K, and that's not including what I rolled over from my previous employer. I will retire, in decent hands. And not because I was exploited, but I was paid based on my experience and the value I provide to my employer. I don't know about you, but I have never worked for a poor person/entity. My wife and I's best friends are DINKs. In ability to have children. They are in their mid-40s. Millionaires. Why, worked hard, saved and invested. They didn't start a business, but have used their skills to leverage solid careers who have rewarded them.

Bezos, Musk, and practically all of them, were either born into wealth or into an upper-middle class family, that provided them with plenty of resources, even a large "donation" or "family grant" as much as $300K. Trump and his children are in another category, they get millions to start businesses. All of this is irrelevant. Capitalism is a system comprised of two socioeconomic classes, namely, owner-capitalists/exploiters (A.K.A. "Masters" according to Adam Smith, the father of capitalism), and exploited workers.
Bezos was and is a very smart and educated man. He took a $300,000 dollar investment from his parents. Bezos was adopted by his immigrant father who educated himself and became an engineer for Exxon. My guess is that Bezos' father, was able to invest and amass wealth, which he then gifted as an investment into Amazon. But Bezos really came from humble roots, but was smart and was able to leverage his intelligence and has reshaped the global marketplace. Yet, here we are vilifying a man or trying to explain away his personal success as a "gift". What we really should be doing, is modeling his feats and success instead of criticizing his wealth, which he earned and earned justly. And I'm sure that he has paid handsomely many of the people who have worked for him and his helping those people amass wealth.
The working class produces everything and doesn't need capitalists. Capitalists are a parasite class, living off of other people's hard labor. The working class (94% of the population), could easily take ownership of the mines, factories..etc (the means of production), and manage it through their government, under their authority.
Parasite is a bit of hyperbole. I've never worked for a poor person or entity.
The capitalists need the working class more so than the working class needs capitalists. Who do you think purchases the products and services that capitalists sell? The working class. They purchase everything with their wages. There's no reason why the government can't become the employer and take all of those profits and deposit it in the public treasury.
So much trust in gov't to do the right thing and or have the public's interest as their #1 priority.
Now due to advanced automation and artificial intelligence, we're going to have to adopt a non-profit, marketless, more democratic system of mass production, that is centrally planned, under the authority of the working class. Capitalism is going to collapse due to a lack of wage labor.
AI is going to change things, that's for certain, but I won't jump to this laborless idea just yet. It seems to be the new argument communists are tying their goats too.
The capitalist exploiters or "masters". The parasites pay the salaries and benefits of their employees/exploitees, and then those employees, take that money and purchase the products and services sold by the capitalists. Under capitalism, there's a symbiotic relationship between the working class and the capitalists, however, the working class is superior to the capitalist owner-class. Even Abraham Lincoln understood this:



The labor class or those who actually do the work, are the true producers, not the capitalist leeches who exploit them. Like I mentioned earlier, the working class are at least 94% of the population and they could easily make their democratic government their employer, nationalizing all of the major centers of economic power. They could place all of the mines, resources, factories, robots, artificial intelligence, supercomputers..etc, in the hands of the public (publicly owned), and tell the parasite capitalists to go EF themselves.
And there are plenty of "Capitalist" that share their wealth. In some regards, the gov't should be working for us. And there are many, many privately held businesses today that are extremely successful that started with the idea of one person. Your argument is to throw the baby out with the bath water. You focus on one narrative, lump every business owner into that pile, and illogically run with your arguments.
Private property would be rendered illegal, and only personal property would be permitted. Private property is all property that is used to exploit other human beings for a profit. Personal property, is all property that is for personal use, like your house, car, computer/s, phone/s, toothbrush, AR15 collection..etc. Democratic communism is the natural, inevitable successor of capitalism, just as capitalism was the successor of feudalism and chattel slavery.
Communism is an idea that has not once shown to work anywhere, why, corruption and the inability for personal freedom, ingenuity, and success.
 
Capitalism is rubbish and useless now in the age of advanced 21st-century automation and artificial intelligence. It's time to finally transition to a non-profit, marketless, more democratic, and centrally planned system of production, that places all of the nation's productive resources in public hands. Private property must also be nationalized, only personal property should exist.
Herein lies the fatal flaw in that reasoning. There never will be "public hands". You know what you WILL get, every single time? You will get the means of production forcibly wrested from the hands that built it and placed in the hands of the few in government. The means of production will still be in the hands of a few wealthy, powerful people. They will just carry titles like "Minister of the interior", "Central Planning Administrator", etc. and where will the people be in all of this? They will be forcibly wrested from a system that allowed them to buy into the means of production, to trade their labor and expertise for money and placed into a system where they have no bargaining power at all because the rich and powerful in the government dictate to them where they are allowed to work and how much they are allowed to earn.

There literally is no "public hands" because it all ends up in the hands of a few very wealthy and very powerful people who then have dictatorial power over the rest of the population. This is why communism inevitably ends up a dictatorship.
 
Last edited:
You bring up 401s. Are they subject to Capital gains taxes?
 
Back
Top Bottom