Zone1 What is Wrong with Inequality?

[OODA_Loop]

So what are the benefits of passing great wealth from one generation to the next?

Financial security

 

[rightwinger]

Hell, why not just take 95% no millionaires would starve.

Why not take 50% from those making $100k. No one making $50k a year will starve.

Because we are asking for 50% as a reasonable amount for over a million in income. It has been done before.

For years, Republicans have expanded the top bracket to include income over $400,000
Then they complain that raising the tax on those people will be a burden

 

[The Sage of Main Street]

50 percent of earnings above $1 million

Before Reagan, it used to be at that level.
No Millionaires were reported to be starving

Lying Through Omission

Why tax earnings when inheritances and trust funds are unearned? From the 1% alone, that would be $3 trillion a year. From everyone who gets set up ahead of where he'd be in unbiased competition, it would eliminate all income taxes and most corporate taxes.

 

[OODA_Loop]

Because we are asking for 50% as a reasonable amount for over a million in income. It has been done before.

Taking half of someone’s earnings is in no way reasonable at any tax bracket

 

[Lisa558]

So what are the benefits of passing great wealth from one generation to the next?

What you’re asking is:

How does if benefit OTHER PEOPLE when a rich person leaves the money he earned to his kids?

The answer is: who says it has to? It’s the father’s money to do with what he wants.

 

[The Sage of Main Street]

His daddy bought him that election.

Daddyocracy

John D. Rockefeller's oil money bought three of his grandsons elections to be Governors. And there's also inherited political positions. Among far too many other instances, the first female Republican senator was the daughter of a Republican Presidential candidate, Alf Landon. He lost in a landslide, but he didn't lose his heiristocratic privilege to determine America's future.

That's what is really behind Feminism; it doubles the power of hereditary wealth. Even a sexist like Hugh Hefner passed on his position to his daughter.

 

[The Sage of Main Street]

Life isn't fair, I get it. I also feel children shouldn't suffer because of the failures of their parents.

We Are Born in the Dugout and Made to Believe We've Been Benched


That's what makes commoners support the Trustfundees. They resent their fathers for not getting rich and spoiling them. The ads on children's show subliminally say, "Hey, kids! Ask your Daddy to buy this shiny new toy. If he says he can't afford it, he's a loser!"

 

[Man With A Plan]

Invested conservatively or used to purchase an annuity, it should provide $500K/year forever. They should never be poor.

I'm not talking about the people you want to STEAL the money from, Alang...I'm talking about the people you want to GIVE that money to! The left always talks about how people deserve a "living wage" and I'm just curious how much that's going to be in your "workers utopia"!

 

[The Sage of Main Street]

- and that their focus is better spent on doing the best they can with what they have rather than look to more successful people to “share” their money with them.

The Nobility Has No Ability

Somehow you twist that into ignoring how these Daddy-moochers share their Daddies' money. And they don't do the "best with what they have," which has all been given to them instead of what everybody else has, while the potentially productive people get nothing up front, being expected to crawl upward on a ladder of thorns.

 

[alang1216]

Financial security

For whom?

 

[OODA_Loop]

For whom?

The recipients.

 

[The Sage of Main Street]

What is the limit that someone should be able to make, Alang?

Dodge Charger

He was referring to inheritance, not earned income.

Having a country's economy, government, and culture run by lottery winners wouldn't be much different from what our system really is.

 

[Man With A Plan]

The Nobility Has No Ability

Somehow you twist that into ignoring how these Daddy-moochers share their Daddies' money. And they don't do the "best with what they have," which has all been given to him, while the potentially productive people get nothing up front, being expected to crawl upward on a ladder of thorns.

A ladder of thorns? LOL A little melodramatic there, don't you think, Sage? The truth is...people are literally dying to get into the US so they can climb that ladder because the fact is...there are few places on earth where it's easier to become wildly successful than the US!

 

[Admiral Rockwell Tory]

You guys keep trying to sell that lie

Cut taxes on corporations and it will result in more jobs, higher pay, lower prices

Time after time, the reality is that they make no effort to share the wealth. They pass it out as dividends or buy back stock.

Then they have more money to expand or pay off debt which is keeping them from expanding.

 

[The Sage of Main Street]

The answer is: who says it has to? It’s the father’s money to do with what he wants.

Makes Sense Only on the Surface

That is a common way of lying. All other bribery is done with the criminal's "own money."

 

[alang1216]

I'm not talking about the people you want to STEAL the money from, Alang...

I don't consider it stealing since this 2nd generation has done nothing to earn it.

I'm talking about the people you want to GIVE that money to! The left always talks about how people deserve a "living wage" and I'm just curious how much that's going to be in your "workers utopia"!

That is up to the person who earned the money. If Bill Gates had only one child to give $10M to he'd have to decide what to do with the rest. He could put in his will to give to a university or a charity, build a pyramid or send his body to Mars. Or he could give it to a "workers utopia". It is money he earned so he gets to decide, except for hording it for his family (if he is married she gets it all until she dies).

 

[Lisa558]

I'm not talking about the people you want to STEAL the money from, Alang...I'm talking about the people you want to GIVE that money to! The left always talks about how people deserve a "living wage" and I'm just curious how much that's going to be in your "workers utopia"!

And by “living wage,” they mean that a 19-year-old kid with no real skills should be able to rent an apartment all to himself while flipping fries at McDonalds.

The wage should be enough to allow unskilled workers to share an apartment in a modest area, and take a bus to work.

There are plenty of 2-bedroom apartments in a cheaper area of my county that rent for $1600 a month or so. That means $800 each share. A minimum wage of $15/hr should be tight but doable.

 

[rightwinger]

Taking half of someone’s earnings is in no way reasonable at any tax bracket

Of course it is
We are just returning to tax rates that worked

 

[Admiral Rockwell Tory]

MAGA opposes minimum wage, unions, worker safety, healthcare, worker benefits

They have sold out to the wealthy

Bullshit. That is a Democrat lie.

 

[Lisa558]

The Nobility Has No Ability

Somehow you twist that into ignoring how these Daddy-moochers share their Daddies' money. And they don't do the "best with what they have," which has all been given to him, while the potentially productive people get nothing up front, being expected to crawl upward on a ladder of thorns.

That’s really none of your business. A successful man should be able to do what he wants with his own money.