Shrink the Rich; Not Government

[M14 Shooter]

Thirty years ago the top 1% of US workers earned 9% of total annual income. Today's top 1% hoard nearly a quarter of the total.
"Meanwhile the earnings of the typical worker have barely budged."

This is not something for the government to address, much less correct.

 

[WillowTree]

Thanks Comrade!

My thoughts exactly.

 

[M14 Shooter]

The richest 10,000 Americans "earn" on average $50,000,000 a year. Any reason they couldn't be just as happy with 30% of $50 million?

What right do you, or anyone else, have to that money?
What right do you, or anyone else, have to say how much is "enough"?

 

[daveman]

Yeah....Earned.

As opposed to expropriated; the favored route of socialistic welfare state parasites.

The richest 10,000 Americans "earn" on average $50,000,000 a year. Any reason they couldn't be just as happy with 30% of $50 million? Especially since most of their income isn't "earned" at all. It's what Adam Smith called the money landlords earn in their sleep.

Any reason you can't get off your ass and work?

 

[WillowTree]

Here's a question! I've been watching the goings on in Washington the last two weeks. Tomorrow the House convenes! How much wealth do you think has left the country just since the left wing loons have been braying at the moontree? Huh!

 

[Oddball]

Yeah....Earned.

As opposed to expropriated; the favored route of socialistic welfare state parasites.

The richest 10,000 Americans "earn" on average $50,000,000 a year. Any reason they couldn't be just as happy with 30% of $50 million? Especially since most of their income isn't "earned" at all. It's what Adam Smith called the money landlords earn in their sleep.

Any reason in particular you're so arrogant to believe that you can tell others how much of the fruits of their labors they should be happy with?

 

[georgephillip]

If they were to tax YOU 90% of your income would you go to work? OR, would you move someplace where the government let you keep more of your money. The goal of the left seems to be making sure EVERYONE is broke and NOBODY is allowed to be successful. The answer is let people keep more of their money and give the poor some incentive to get out and work smarter. If you give people everything they need to live they have no reason to be personally successful.

10,000 Americans "earn" on average $50 million dollars every year. If I was one I would be more than happy to live of $5million.

Phil's Stock World

They aren't earning this much money because of intelligence or effort, they are earning the money because of bribes paid to politicians of BOTH major parties to craft tax policy favoring debt over equity financing.

If you let these parasites keep more of their money they will continue investing outside the USA, in parts of the world where the local currency is "harder" than the US dollar.

Eventually this will lead to a dollar crisis in this country, and, quite possibly, progressive income taxes will be abolished and replaced with a flat tax that falls only on wage labor and exempts finance, insurance and real estate (FIRE sector) incomes.

At that point, voting becomes meaningless.

 

[daveman]

Let me tell you how to get rich in America. It is very simple.
Start working full time at age 18. Go to college at night and weekends. Work 2 jobs while young.
Drive old cars and do not borrow $. 1st residence buy in an older urban neighborhood for a cheap price. Build equity and then move.
DO NOT HAVE CHILDREN UNTIL AFTER AGE 30.
Do not buy cameras, TVs, ANYTHING new until you have at least 50 % equity in your home. Save a dollar here and there and then at age 30 save twenty dollars here and there and at age 40 save a hundred dollars here and there. Before long you will have 100K saved in cash at age 45.
Do not spend $$ on watches, leather coats, ANYTHING faddy ever. Save that $$. Do not ever carry a balance on a charge card. Do not eat at fancy restaurants unless you have 50% equity in your home.
I did all of that and my net worth is over a million now easy in a bad economy. I drive a 1999 Sienna van with 250K on it. I make 1/2 what my neighbor makes and he is broke, owes 200K on his business, 350K on his home and 100K on charge cards. He drives new cars, his wife has an Infinity sports car, his kids wear designer clothes and he has NO $$ for Christmas.
A disciplined American would have to be deaf, dumb and blind NOT to get wealthy here.

"WAAAAAAAHHH!! That's too haaaa-ard! It's not faaaa-air! I don't WAAAA-ANT to work! You need to give me your stuuu-uff, you big meanie!!"

 

[daveman]

10,000 Americans "earn" on average $50 million dollars every year. If I was one I would be more than happy to live of $5million.

You know whose fault it is you're not earning that much money?

YOURS.

 

[Sallow]

Yeah....Earned.

As opposed to expropriated; the favored route of socialistic welfare state parasites.

The richest 10,000 Americans "earn" on average $50,000,000 a year. Any reason they couldn't be just as happy with 30% of $50 million? Especially since most of their income isn't "earned" at all. It's what Adam Smith called the money landlords earn in their sleep.

Any reason in particular you're so arrogant to believe that you can tell others how much of the fruits of their labors they should be happy with?

What labor?

 

[Sallow]

10,000 Americans "earn" on average $50 million dollars every year. If I was one I would be more than happy to live of $5million.

You know whose fault it is you're not earning that much money?

YOURS.

No it isn't.

 

[Rozman]

Of course that's the answer.Take from those that have and make sure it gets to those who don't...What could be easier and of course fairer.And the Libs will be able to sleep better at night knowing that they made someone else sacrifice to further the noble cause of the Libs.

 

[AVG-JOE]

Apparently, we here at USMB have the pleasure of being in a community comprised of very wealthy folks, folks who truly believe that they will attain great wealth while they're still young enough to enjoy it and/or folks who have bought the whole trickle down theory sold by the wealthy hook, line, and bobber.

I am impressed, waiting to be impressed and not really surprised - it is a pretty good sales pitch, especially when driven home by fear.

If you are one of the very wealthy, do the economy a favor by going out and buying 35 cars and 112 refrigerators (please look for the "Made in USA" label for maximum effect).

If you're a wannabe or just one of the many out there waiting for the trickle to start, keep voting republican and praying - eventually your prayers will be answered yes and you'll be a multi-millionaire or they'll be answered with mind opening truth and you'll understand that true liberalism is not interested in higher or lower taxes, true liberalism is interested in fair taxes.

 

[georgephillip]

Poor rich people.

They're so abused in this nation of collectivists that all they get is 25% of all income earned.

My heart truly bleeds for them.

Class envy? It's Okay, it's what the liberals do.

Does that mean you subscribe to a Republican world view?

Is it all Big Government's fault"

"Americans want to know what happened to the economy and how to fix it. At least Republicans have a story – the same one they’ve been flogging for thirty years. The bad economy is big government’s fault and the solution is to shrink government.

"Here’s the real story.

"For three decades, an increasing share of the benefits of economic growth have gone to the top 1 percent.

"'Thirty years ago, the top got 9 percent of total income. Now they take in almost a quarter. Meanwhile, the earnings of the typical worker have barely budged.

"The vast middle class no longer has the purchasing power to keep the economy going. (The rich spend a much lower portion of their incomes.)

"The crisis was averted before now only because middle-class families found ways to keep spending more than they took in – by women going into paid work, by working longer hours, and finally by using their homes as collateral to borrow.

"But when the housing bubble burst, the game was up."

The richest 1% and even more so for the richest .1% and .01% of US earners are not going to invest much of their wealth inside the US. There are much greener pastures for those with this much money. The US has served their purpose and now it's on to China.

Why the Tax Deal...

 

[AVG-JOE]

Just one more note...

Warren Buffett, one of the richest men on the planet, would prefer to pay a little more in taxes than the 16% he pays, especially when compared to the 32% his employees pay on average. He 'gets' it...

http://www.usmessageboard.com/polit...h-with-the-hope-they-spend-does-not-work.html

 

[Oddball]

Just one more note...

Warren Buffett, one of the richest men on the planet, would prefer to pay a little more in taxes than the 16% he pays, especially when compared to the 32% his employees pay on average. He 'gets' it...

http://www.usmessageboard.com/polit...h-with-the-hope-they-spend-does-not-work.html

Sure...Hyper-rich dickweeds can afford it.

Then again, the bulk of Buffet's income doesn't come from productive labor.

 

[Oddball]

Apparently, we here at USMB have the pleasure of being in a community comprised of very wealthy folks, folks who truly believe that they will attain great wealth while they're still young enough to enjoy it and/or folks who have bought the whole trickle down theory sold by the wealthy hook, line, and bobber.

I am impressed, waiting to be impressed and not really surprised - it is a pretty good sales pitch, especially when driven home by fear.

If you are one of the very wealthy, do the economy a favor by going out and buying 35 cars and 112 refrigerators (please look for the "Made in USA" label for maximum effect).

If you're a wannabe or just one of the many out there waiting for the trickle to start, keep voting republican and praying - eventually your prayers will be answered yes and you'll be a multi-millionaire or they'll be answered with mind opening truth and you'll understand that true liberalism is not interested in higher or lower taxes, true liberalism is interested in fair taxes.

Or maybe we just find direct taxes on productivity patently unjust as a matter of course, and welcome any and all reduction and/or elimination of them.

 

[georgephillip]

Hey george...what do you think of this?

Pilgrim:

The "Rich" I'm talking about earn $50 million/year with $350,000,000 in assets and have seen their "share" of the economic pie increase 550% since 1978.

It's alleged these plutocrats pay 20% of their earnings in taxes which means the remaining 99.99 percent of Americans have to pay their share of government AND what the richest 0.01% don't pay.

While government unions may contribute significantly to our deficit, the plutocrats not only blow up the budget they also make a sham out of Democracy.

I'm also not clear on what your "national average salary" would be for the president? Many private chief executives earn far more than the US President. What about VP or members of congress?

How about Secretary of Defense and all the rich generals and admirals around the Pentagon? Are you volunteering to tell those assholes they're taking a 40% to 50% cut in pay?

Hope your insurance is at least as good as theirs.

Phil's Stock World

If those are The Rich, then how is that all the energy is being spent on raising taxes for people making $250K?

Is it accurate to say those earning $250K per year are in the same tax bracket as those earning $25M per year?

 

[Sallow]

Just one more note...

Warren Buffett, one of the richest men on the planet, would prefer to pay a little more in taxes than the 16% he pays, especially when compared to the 32% his employees pay on average. He 'gets' it...

http://www.usmessageboard.com/polit...h-with-the-hope-they-spend-does-not-work.html

Sure...Hyper-rich dickweeds can afford it.

Then again, the bulk of Buffet's income doesn't come from productive labor.

Same with the rest in that club.

 

[AVG-JOE]

Just one more note...

Warren Buffett, one of the richest men on the planet, would prefer to pay a little more in taxes than the 16% he pays, especially when compared to the 32% his employees pay on average. He 'gets' it...

http://www.usmessageboard.com/polit...h-with-the-hope-they-spend-does-not-work.html

Sure...Hyper-rich dickweeds can afford it.

Then again, the bulk of Buffet's income doesn't come from productive labor.

Neither of those points negate the fact that Mr. Buffett feels that congress has loaded the tax code in this country to place a crippling, unfair burden on the middle class and the wealthy do NOT pay their fair share.

Nobody who knows shit from Shinola is asking for the rich to pay for everything while the middle class sits home watching re-runs of 'Lost'.

The answer is not higher taxes and the answer is not lower taxes - the answer isn't even some sort of class division for taxation - the answer is fair taxes.