What Happens When You Tax Billionaires At 90%

[Harpy Eagle]

what is common knowledge does not need to be proven. the majority of the untra rich vote dem---------why??? because the dems buy their votes with rich-friendly tax policies. Sometimes known as vote buying.

What is common knowledge is most often incorrect.

It was your claim, either back it up or have it dismissed as one more like from you.

 

[initforme]

As a .middle class retired white male Christian I have zero shared values with billionaires. We cannot share ideals

 

[Redfish]

As a .middle class retired white male Christian I have zero shared values with billionaires. We cannot share ideals

how exactly do you know that? Do you know every US rich person personally?

 

[Redfish]

What is common knowledge is most often incorrect.

It was your claim, either back it up or have it dismissed as one more like from you.

LOL, you said it was not true, so any backing up is on you. YOU made the claim that my statement was false. So prove it false or STFU and go away.

 

[Harpy Eagle]

LOL, you said it was not true, so any backing up is on you. YOU made the claim that my statement was false. So prove it false or STFU and go away.

In which post did I do that?

 

[Redfish]

In which post did I do that?

493

 

[Harpy Eagle]

493

Where in this post did I say it was not true? I merely asked you to support your claim, which you cannot do it seems

 

[Redfish]

Where in this post did I say it was not true? I merely asked you to support your claim, which you cannot do it seems

View attachment 799815

asking for a link (proof) is a common way of saying you don't believe what the other person has said. But you know that and are just being an asshole this morning.

 

[Harpy Eagle]

asking for a link (proof) is a common way of saying you don't believe what the other person has said. But you know that and are just being an asshole this morning.

So, this is your way of saying you cannot support your claim.

Well, at least you are consistent

 

[Redfish]

So, this is your way of saying you cannot support your claim.

Well, at least you are consistent

LOL, nice try. you make me laugh. What I said is consistent with voting records and polling. The very rich favor liberalism, I don't understand why, but they do. Could it be because they know that they can buy liberal politicians??????????????? hmmmmm??

 

[TruthNotBS]

“Succession” is over, but spoiled, entitled billionaire man-children are still very much with us, running social media companies, owning newspapers and television networks, and funding politicians and judges who then keep their taxes low and regulations minimal.

America’s billionaires (and soon to be trillionaires) pay an average of around 3.1 percent as their functional income tax rate; as a result, America is the most unequal developed society in the world. The last time severe poverty and extravagant wealth coexisted in such extremes as today in this country was during the 1920s and 1930s.


Today we read about roving gangs doing smash-and-grab operations against retailers like Nordstroms and Home Depot; in Red states our schools are falling apart, defunded to pay for vouchers to all-white “Christian” academies; gun violence plagues our nation with particularly high homicide rates in rural Red states; and homelessness stalks city-dwellers at every turn.

The last time we saw the consequences of such inequality was during the Republican “Roaring ‘20s” 100 years ago, when Warren Harding dropped the top income tax rate from 91 percent to 25 percent, the morbidly rich openly bought our politicians, and gangs whose names are still known today roamed the country robbing and killing with impunity.

Franklin D. Roosevelt’s New Deal put an end to all that, and we need to repeat his example today.

FDR raised the top income tax bracket from 25 to 90 percent. Wealthy people in America screamed and yelled, claiming it would crash the economy, but instead that top tax rate kicked off the first middle class to encompass more than half a nation’s population in world history.

As Roosevelt noted in 1936:




The morbidly rich will squeal at even the mention of these tried-and-tested solutions, just like they did in the 1930s. They’ll warn that the country will collapse, or that communism will take us over and we’ll become Venezuela or Cuba. They’ll say that the “job creators” will go on strike like in an Ayn Rand novel and take the economy with them to Gault’s Gulch.

And, like FDR, we need to call them on their bullsh*t.

What Happens When You Tax Billionaires at 90 Percent?

“Succession” is over, but spoiled, entitled billionaire man-children are still very much with us, running social media companies, owning newspapers and television networks, and funding politicians and judges who then keep their taxes low and...

www.dailykos.com

Edited to comply with copyright laws-meister

Billionaires are the problem. Not the solution. Prosperity is created when the morbidly rich, and corporations are taxed at much higher levels. Not lower. Just like FDR proved beyond any doubt.

You have to be a total tool, to buy into the oligarch bullshit talking point, that low taxes and deregulation is what creates prosperity. Or you're a toady working for a billionaire selling that crap.

No one person or family should be allowed to have billions of dollars. The golden age of our economy was when we taxed the rich between 93% and 70%. Between the 1930s and 1980, the CEOs of large companies made no more than 30 times the lowest wage of their workers. Starting in the 1980s, with Reaganomics, taxes were cut to 28% for the wealthiest Americans and Fortune 500 CEOs started making 300, 600 times the amount the average worker in their companies made. We went from having 70% of the American workforce being of the middle-class to now only 40%. More than half of America today is one or two paychecks away from homelessness.

We switched our economy from one based on production and exports to finance (wall street) and service industries, importing all of the goods that Americans consume. We closed over 60,000 factories and laid off tens of millions of American workers. Those high-paying manufacturing jobs, with benefits and pensions, all went abroad, to third-world countries with dirt-cheap labor. It was a luxury of the rich, to use credit cards, until the 1980s, when wages stagnated and banks began promoting them to working-class people. Today we have an American public, is heavily in debt, overworked, and trying to survive, with lower wages, benefits,

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[Redfish]

No one person or family should be allowed to have billions of dollars. The golden age of our economy was when we taxed the rich between 93% and 70%. Between the 1930s and 1980, the CEOs of large companies made no more than 30 times the lowest wage of their workers. Starting in the 1980s, with Reaganomics, taxes were cut to 28% for the wealthiest Americans and Fortune 500 CEOs started making 300, 600 times the amount the average worker in their companies made. We went from having 70% of the American workforce being of the middle-class to now only 40%. More than half of America today is one or two paychecks away from homelessness.

We switched our economy from one based on production and exports to finance (wall street) and service industries, importing all of the goods that Americans consume. We closed over 60,000 factories and laid off tens of millions of American workers. Those high-paying manufacturing jobs, with benefits and pensions, all went abroad, to third-world countries with dirt-cheap labor. It was a luxury of the rich, to use credit cards, until the 1980s, when wages stagnated and banks began promoting them to working-class people. Today we have an American public, is heavily in debt, overworked, and trying to survive, with lower wages, benefits,

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so now you want wage controls, you are a socialist, admit it. There have always been rich and poor and there always will be; the gap is smallest under capitalism and largest under socialism. Geez, dude. learn something.

 

[TruthNotBS]

so now you want wage controls, you are a socialist, admit it. There have always been rich and poor and there always will be; the gap is smallest under capitalism and largest under socialism. Geez, dude. learn something.

Of course, it's called "regulations", or "laws". Are you lawless? If you can't pay the human beings that work for you full-time, a living wage, then you don't deserve to be in business. The taxpayer has to pay the bill by paying your employees, food stamps, and cash assistance. Thousands of Walmart employees are on government assistance because they don't make enough to live on.

WALMART makes tens of billions yearly in profits, yet refuses to pay many of its full-time employees a living wage. It's the taxpayer that is left with the bill.

Eventually, advanced automation and artificial intelligence will force secular society, by necessity, to adopt a non-profit system of production.

 

[Toddsterpatriot]

We went from having 70% of the American workforce being of the middle-class to now only 40%.

Prove it.

 

[merrill]

“Succession” is over, but spoiled, entitled billionaire man-children are still very much with us, running social media companies, owning newspapers and television networks, and funding politicians and judges who then keep their taxes low and regulations minimal.

America’s billionaires (and soon to be trillionaires) pay an average of around 3.1 percent as their functional income tax rate; as a result, America is the most unequal developed society in the world. The last time severe poverty and extravagant wealth coexisted in such extremes as today in this country was during the 1920s and 1930s.


Today we read about roving gangs doing smash-and-grab operations against retailers like Nordstroms and Home Depot; in Red states our schools are falling apart, defunded to pay for vouchers to all-white “Christian” academies; gun violence plagues our nation with particularly high homicide rates in rural Red states; and homelessness stalks city-dwellers at every turn.

The last time we saw the consequences of such inequality was during the Republican “Roaring ‘20s” 100 years ago, when Warren Harding dropped the top income tax rate from 91 percent to 25 percent, the morbidly rich openly bought our politicians, and gangs whose names are still known today roamed the country robbing and killing with impunity.

Franklin D. Roosevelt’s New Deal put an end to all that, and we need to repeat his example today.

FDR raised the top income tax bracket from 25 to 90 percent. Wealthy people in America screamed and yelled, claiming it would crash the economy, but instead that top tax rate kicked off the first middle class to encompass more than half a nation’s population in world history.

As Roosevelt noted in 1936:




The morbidly rich will squeal at even the mention of these tried-and-tested solutions, just like they did in the 1930s. They’ll warn that the country will collapse, or that communism will take us over and we’ll become Venezuela or Cuba. They’ll say that the “job creators” will go on strike like in an Ayn Rand novel and take the economy with them to Gault’s Gulch.

And, like FDR, we need to call them on their bullsh*t.

What Happens When You Tax Billionaires at 90 Percent?

“Succession” is over, but spoiled, entitled billionaire man-children are still very much with us, running social media companies, owning newspapers and television networks, and funding politicians and judges who then keep their taxes low and...

www.dailykos.com

Edited to comply with copyright laws-meister

Billionaires are the problem. Not the solution. Prosperity is created when the morbidly rich, and corporations are taxed at much higher levels. Not lower. Just like FDR proved beyond any doubt.

You have to be a total tool, to buy into the oligarch bullshit talking point, that low taxes and deregulation is what creates prosperity. Or you're a toady working for a billionaire selling that crap.

Taxing @ 90% means taxes go down for the middle class as tax revenues increase in the cookie jars........

 

[Toddsterpatriot]

Of course, it's called "regulations", or "laws". Are you lawless? If you can't pay the human beings that work for you full-time, a living wage, then you don't deserve to be in business. The taxpayer has to pay the bill by paying your employees, food stamps, and cash assistance. Thousands of Walmart employees are on government assistance because they don't make enough to live on.

View attachment 800134​

WALMART makes tens of billions yearly in profits, yet refuses to pay many of its full-time employees a living wage. It's the taxpayer that is left with the bill.

Eventually, advanced automation and artificial intelligence will force secular society, by necessity, to adopt a non-profit system of production.

If you can't pay the human beings that work for you full-time, a living wage, then you don't deserve to be in business.

What is a "living wage"?
How do you know?

WALMART makes tens of billions yearly in profits, yet refuses to pay many of its full-time employees a living wage. It's the taxpayer that is left with the bill.

A smaller bill than if they didn't work at Walmart.

 

[hadit]

without going through every post, FDR's 90% tax rate on the rich was accompanied with
major tax deductions. No rich person ever paid 90%.
But, it made a good sound bite for future internet message boards.

Seriously. Whenever I talk with a liberal who wants to go back to those tax rates, they go quiet when I mention all the loopholes and deductions that were closed down. Heck, it would be cool to deduct credit card interest, but somehow they don't want that.

 

[hadit]

Taxing @ 90% means taxes go down for the middle class as tax revenues increase in the cookie jars........

Do you know what happens when new revenue shows up in congress? Picture a pack of very hungry dogs having a ribeye steak dropped in front of them.

 

[TruthNotBS]

Prove it.

If you can't pay the human beings that work for you full-time, a living wage, then you don't deserve to be in business.

What is a "living wage"?
How do you know?

WALMART makes tens of billions yearly in profits, yet refuses to pay many of its full-time employees a living wage. It's the taxpayer that is left with the bill.

A smaller bill than if they didn't work at Walmart.

If they work at Walmart, a company that makes tens of billions yearly in profits, full-time, they shouldn't need the government to provide them with food stamps. In whichever city or town they live in, they should have enough to live without welfare.

What is a good rent-to-income ratio in NYC - Localize Guides

You’ve probably heard of the one-third rule, but there are lots of other factors to take into consideration when finding your ideal rent-to-income ratio.

www.localize.city

 

[Toddsterpatriot]

If they work at Walmart, a company that makes tens of billions yearly in profits, full-time, they shouldn't need the government to provide them with food stamps.

Fewer food stamps if they work at Walmart versus sitting at home.