Capitalism is economic tyranny Socialism is economic democracy.

This is coming from the poster who was complaining about personal comments.

I have a great idea-people should pay their own way and stop demanding others fund their existence. I fully support charity but I despise those demanding others feed them

 

Your argument ignores marginal and effective rates and no one should pay 70% of any dollar to the government when half the country pays nothing in terms of federal income taxes. Rich people don't exist to subsidize the citizenship benefits of the lazy, the unproductive and the untalented

 

But be aware of the real effect of those high tax brackets, even those up to 90%. There were deductions and the rich were able to use them. The intention of government was to tax large incomes as a sort of punishment for not plowing excess corporate revenue back into the company. The government wanted our US production to to grow and be first in the world. And business complied.

Notice that things are different today, and specifically now that our productive capacity is built and it is so good that capacity utilization sits around 72%, meaning that 28% of productive capacity sits idle, the government isn't interested in applying such a tax today. Instead they now allow corporations to funnel excessive revenue right into the pockets of the corporate elite via special stock options and stock grants in addition to salaries.

 

I'd say no, not when it affects others.

WTF are you talking about?

But to comfort yourself you invent this fiction of me wanting to force others in some way while I actually seek to free us all from wage slavery, DEMOCRATICALLY.

Holy ****, you really have a bullshit imagination. But the methodology is consistent on the right. Invent an ugly fantasy, assign it to the lefty, expose the insanity of the fantasy, and declare victory over the lefty. Do you realize how sick that is? Try asking questions to explore and find out instead of imposing your bullshit fantasies.

You wouldn't know. you COULDN'T know.


I'll just cut it here because I'm tiring of the nonsense.

 

I warned you.

bye

 

Capitalism allows poor folks to use their brains, energy and motivation to become tremendous successes. Ever hear of Alexander Graham Bell? Tom Edison? Henry Ford? The Bill Gates? Steve Jobs?
Some people view successful people with envy and whine and complain. Others view successful people as role models and try to be like them.
We understand where you are on that spectrum.

 

broken my heart is. how will I ever get by?

 

Your cutting it here and attacking me, rather than defending your fantasy land position in the face of facts because it's ideological fantasy land.

The world, and people, don't work the way you need them to un order for socialism to work.

Nobody is going to apply themselves and create value if it doesn't benefit them directly.

Any assumption people will work tirelessly for the befit of others usually is coming from and supported by those that haven't done **** to support themselves.... but think they have it all figured it.

Every socialist I have ever met is an entitled loser.

 

Things definitely are different today

 

Are you recommending income redistribution is morally right?

 

Reminder that the middle class was at its best with a 90% tax bracket

 

I am people hording huge amounts of wealth hurt the economy, people who don't have enough money to buy wants hurt the economy.

 

Saving accounts (that average people use) can be considered hording. The capital that the rich receive is feeding the economy by providing jobs.

 

If we ban stock buybacks and raise the corporate tax to 90% and only allow write offs for business expenses (not including CEO wages) employee pay and expansions you will see better wages and more job growth we have seen it happen in the 40s and 50s.

 

As a former business man, if I could only earn 10% I wouldn't bother investing. Why do you think major corporations outsource their business outside the States?

 

90% was only for profits over $2M (if we adjust for inflation). Businesses invested because it allowed them to keep more of their money since it was a tax right off. Businesses out source because we allow them to.

 

Ok. Let's break this down. Would you object to 90% of your income being confiscated by the government?

 

90 cents of every dollar OVER 2M no.

 

Then why earn more than 2M?

 

No reason, you instead invest all your earnings into more employees or locations and get your income from those taxed in a lower tax bracket.

If everything under 2M is taxed at say 25% then using up all your extra income for that year on expansion and employee salaries then you end up with 1.99M you get ~ 1.49M in take home which is more that anything under 15M thats how this works.

 

I'm confused. Are you taxing revenues or income? What I would do is simply lay off all my workers once I reached the 2m mark in income to avoid most of my income over that amount being confiscated. Or I would move my company to a tax friendly country.

 

Theorizing is for ideologues. Rather that kowtowing to one dogma or another, a pragmatic approach of going with what works best is called for.

All advanced democracies are hybrids, regulated capitalism that insures the welfare of the people.

 

Pre tax net revenue, for companies and income for individuals. So both. Also you have to pay US taxes if you are a citizen regardless of where you are lol