A group of US billionaires is calling for a wealth tax

Discussion in 'Political Opinions & Beliefs' started by Durandal, Jun 25, 2019.

  1. Derideo_Te

    Derideo_Te Well-Known Member

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    Try reading Andrew Yang's proposals instead. He has done the math on how to pay for his proposals.
     
  2. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    I'm sorry, but I HAVE to call bullshit here. What is your source for saying that?
     
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  3. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    These billionaires recognize that they make their money off of us. If we don't have any money they won't either. Money has to circulate, that's the only way it can grow and make the wealthy get wealthier

    Unfortunately there are lots of the super rich who think they can become a sort of modern day nobility, lording it over we impoverished peasantry. That really didn't even work for the nobility back in the day, hence the concept of Noblesse Oblige, which enough actually observed to make the system work.
     
    Last edited: Jun 27, 2019
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  4. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    Yang's book is challenging, even depressing in the early chapters, slogans and blaming all our problems on immigrants, muslims and Chinese is so much easier.
     
    Last edited: Jun 27, 2019
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  5. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    They want enough money to go non-wealthy people that the economy will begin circulating again, Just a few billionaires giving away even their whole fortunes won't be enough.
     
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  6. cd8ed

    cd8ed Well-Known Member Past Donor

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    I have already linked several sources including one from forbes itself. I had never even heard the data before I looked it up so how could I just be parroting any narrative. Do some basic research if it matters at all to you.
     
    Last edited: Jun 27, 2019
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  7. MolonLabe2009

    MolonLabe2009 Banned

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    If you taxed everyone in the World at 100% and redistribute that money equally to ALL people in the World, each person would receive about $10,000 to $15,000.

    How is that making things better?
     
  8. Aleksander Ulyanov

    Aleksander Ulyanov Well-Known Member

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    Ongoing and being dstributed among just the Americans
     
  9. fencer

    fencer Well-Known Member

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    That's no revolution. Bernie is just another government shill as are the "Progressive" candidates (most of the candidates in general, left or right) elected in the last election. Anybody elected in our current system is just going to continue the path we're already on, towards bigger more intrusive government, more government handouts and more bureaucracy and corruption.
     
  10. Derideo_Te

    Derideo_Te Well-Known Member

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    So from the content above I gather you would rather continue to be exploited by the Establishment in BOTH parties instead?
     
  11. Tim15856

    Tim15856 Well-Known Member

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    I see no links listed in the last two posts of yours that I replied to. What links do you have to justify the fleecing the taxpayers and conman remarks?
     
  12. Belch

    Belch Well-Known Member

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    Try explaining it here, instead of telling me to read some stupid lefty's ideas.

    Honestly, I really don't care about lefties and their ideas anymore. They can go take that long nap in a pile of dog poo for all I care.
     
  13. Derideo_Te

    Derideo_Te Well-Known Member

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    Since that is what you asked for here it is;

    Let us make the assumption that you own a trucking company and hove 1500 trucks and you need 3000 drivers so that they can each take turns driving to keep your trucks operating at peak efficiency.

    https://www.thebalancesmb.com/freight-trucking-dot-hours-1361484

    Each driver costs you $50k per year without benefits so your driver expense is $150 million per year.

    Now someone comes along and for a fixed one time cost of just $25k per truck, or $37.5 million for your entire fleet, you can convert them to automated driverless vehicles that now operate 24*7 without having to deal with any of those federal regulations linked above.

    You get an instant savings of $112.5 million in the first year and then $150 million each and every year thereafter.

    Sounds like a great deal for YOU and why should you care what happens to those 3000 truckers that you just disposed of since that is their problem, not yours, right?

    Now multiply what you just did with your drivers by 1000 and you end up with 3,000,000 people OUT OF WORK while the trucking industry now pockets $150 BILLION in PROFITS each and every year.

    What is going to happen when you ELIMINATE the JOBS of 3,000,000 people WITHOUT giving them any alternative employment?

    Must they just all just "take that long nap in a pile of dog poo for all I care"?

    They are only the tip of the automation iceberg. At least TWENTY FIVE PERCENT of ALL JOBS are at risk of being ELIMINATED.

    https://www.cnbc.com/2019/01/25/the...-risk-of-losing-their-jobs-to-automation.html

    What will happen to the ECONOMY when there is 25% UNEMPLOYMENT?

    The wealthy elite will be even richer than ever with even LARGER offshore bank accounts while your fellow Americans are left DESTITUTE.

    What is your "solution" to the problem posed by TENS OF MILLIONS OF JOB LOSSES caused by automation in the next decade?
     
    Last edited: Jun 28, 2019
  14. doombug

    doombug Well-Known Member

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    Of course they are because they know they will never have to pay it. The idea is to make high taxes normal. The government will tax billionaires first. Of course these folks will leave the country. Then the government will say they need to tax the working middle class because they cannot leave the country.
     
  15. Belch

    Belch Well-Known Member

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    I guess those 3 million are going to have fo find other jobs.

    The late great Milton Friedman was once visiting China when he saw a bunch of guys armed with shovels. He asked "why aren't you using heavy equipment to move all that dirt?". He was told that those guys armed with shovels needed jobs. So Friedman said "If it's jobs you want, then you should give them spoons".
     
    Last edited: Jun 28, 2019
  16. cd8ed

    cd8ed Well-Known Member Past Donor

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    Well the conman is fairly self evident. Trump University is one example. Another is him stiffing contractors

    He is fleecing the taxpayers by profiting off his golfing trips
     
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  17. fencer

    fencer Well-Known Member

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    It isn't a matter of what I would rather, it is a matter of what is. My preference would be to end political parties and most of the federal and state governments.
     
  18. Derideo_Te

    Derideo_Te Well-Known Member

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    What other jobs?

    Where are those jobs going to come from?

    If they had $1000 a month they might be able to start their own business, right?


    As far as Milton Friedman quotation goes you need to use CONTEXT for them to matter. FDR did essentially the same thing during the Great Depression because it was JOBS that were needed by MILLIONS of Americans.

    Here is another MF quote;

    Eliminate productive jobs like truck driving and you eliminate CONSUMERS which KILLS the economy!

    When MILLIONS of hardworking Americans have no jobs because they no longer exist then the ECONOMY is going to NOSE DIVE into another Great Depression.

    Worth NOTING that you did not provide any "alternative solution" either.
     
  19. Derideo_Te

    Derideo_Te Well-Known Member

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    So your preference is ANARCHY? :eek:
     
  20. Daggdag

    Daggdag Well-Known Member

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    There shouldn't be a specific tax just for being rich, but the rich should have a higher tax.

    From each, according to their ability, to each according to their need.
     
  21. fencer

    fencer Well-Known Member

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    Yes, replacing the authoritarian government with a private law society would be much better in my opinion.
     
  22. opion8d

    opion8d Well-Known Member Past Donor

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    That's not the way it works. United States tax policy has a social element that involves redistribution of wealth. The most economically successful countries employ progressive taxation. Because it works.
     
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  23. Derideo_Te

    Derideo_Te Well-Known Member

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    IOW's only the wealthy would have access to the "private law society" and everyone else would be forced into poverty and serfdom.

    Got it!
     
  24. Paul7

    Paul7 Well-Known Member

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    I'm a Trump fan and give waay more of my income to charity than Sanders does. And I'm not a millionaire or have three homes like he does.
     
    Last edited: Jul 8, 2019
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  25. nra37922

    nra37922 Well-Known Member

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    Regardless, there is NOTHING to keep them from paying more should they desire...
     

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