Who will swallow the Corona virus debt? The rich or the poor?

Who will swallow the Corona virus debt? The rich or the poor?

Poverty is a condition imposed by governments through the tax system.

The world will have to pay dearly, not only now, but in the near future, for the hardships cause by this pandemic and the various other upcoming health crisis.

We are already handing our children a dying planet. Will we saddle them with more poverty as well?

Poverty is created by the tax system. Gandhi also said that to impose poverty was a crime.

The tax system is controlled by the rich. Demographically speaking, this fact is proven by their outrageous demographic position and control of the legislation.

Will the rich swallow the huge debt that will soon hit us, or will they place the debt as more poverty for our next extinction bound generation?

The next tax laws, everywhere, will show if more poor die, or if the rich will give up their loose change, which is all that it takes, to end poverty.

Regards
DL

 

Who will swallow the Corona virus debt? The rich or the poor?

Everybody. Government will print money and that causes the money to be less valuable. It is an indirect tax on anybody who uses money.

 

how does that affect the average American that is in debt? or the poor? they will come out pretty much in the same condition, if in debt, there debt will actually be reduced based on increased income

my grandparents bought their house for about 15k way back when, inflation with time made it easier for them to pay off

so I would not say everybody will be worse off due to inflation

the hardest part is knowing where to invest your money if you have it

I personally think we will have a huge market crash, then inflation will kick in - but that is just a guess

the real problem is greedy corps importing all their goods and outsourcing all their labor - people have to have jobs

and of course consumers buying all those imports and doing business with corps that outsource jobs, rather then American made

 

https://www.amazon.com/Price-Inequa...y&qid=1605996831&sprefix=stigl,aps,169&sr=8-2

 

the catch 22 is, if we do not do a stimulus, the economy crashes sooner

 

Until that increased income stops.

Ideally we should want people to get out of debt and begin saving for rainy days or retirement. To some degree the debt is motivated by inflation which you explained with your grandparents' house. Savings don't keep up with inflation. Even the the stock market fails to keep up with it lately. You might as well go into debt to get some benefit from the inflation. The problems arise when the income stops.

There is a crazy fear of deflation and not for anything that makes sense to me. So government "manages' the money supply to what it considers a reasonable level of inflation. I guess the economists are afraid that people would save money instead of spending it and then going into debt to spend more. Wealth is a moving target that would benefit from some stability.

 

Neither or both exclusively depending on how one chooses to view it. The plaque has had uneven impacts across the socioeconomic spectrum. Been a great year for realtors and a bad year for gym owners. As for the government costs, LOL like we ever pay the debt.

 

which means we need inflation and wages have to keep up or your right, it won't work, we will crash (and of course people need jobs in the USA)

 

We'd be waiting a long time for the "poor" to pay anything since many people in poverty pay a negative tax.

 

The Great Reset will fix it all. No one will be able to afford to own anything once we're all in debt to the govt (via its bankster sugardaddies) and then we can finally eliminate prosperity in a new globalized utopia. None of us will be poorer than all of us. Equality achieved.

 

Debt? What debt, we don't need no debt during a pandemic bro. No student debt, no medical debt, no child support debt. All debts are gone away. Enjoy the new car you just bought lol you rascal, you!

 

you mean trickle does doesn't work?

maybe we should of tried trickle up, made corps actually create jobs to get the money

 

Maybe we should've kept taxes low and made them make all their money on their own.

 

I would of preferred Republican lower tax on the working class rather then the rich, but the right would nto go for that

in fact, Trump says the rich not paying tax is smart

 

The democrats rather the corporations spend their money towards higher taxes. Republicans prefer the corporations spend their money on paying employees more and affording more employees. This is a big area where the two parties differ.

Government making more money, or employee making more money? Which is most beneficial?

 

never works out that way though does it, trickle down is a failure

 

Not quite- he said its smart to not pay taxes you don't have to pay. If I had so much money that it would be cheaper to pay a law firm to find me loopholes than it would be to just pay all the taxes, I would pay for the loopholes and donate to charity instead. And so would you. Neither of us likes how the govt works enough to fund more of it than we have to.

Back to the point tho- trying to depend on the R's is just as foolish as trying to depend on the D's. They both do the bidding of lobbyists that want the tax code so complicated that only the chosen elite can navigate it. They both look at the common folk as chattel. And they both want small business crushed- the R's because it competes with the dominance of big business and the D's because it competes with the dominance of the state. We're supposed to depend on the elite so we can be completely controlled. Whether we're dependent on their corporations or their govt programs hardly matters because either way its going to be the govt paying the corps with our money and labor to doll out what we make back to us after syphoning off their massive portion, while we fight over which color boot we want pinning us to the dirt for eternity.

 

oh I agree, I want a flat tax where all income is treated as income earned over the poverty limit, rich or poor alike

 

So are you arguing that drastically increasing taxes on corporations will help the middle class workers? If the corporation has to spend more on taxes, who do you think pays for that? Employees and consumers of their service/product, that's who. Democrats seems stumped as to why corporations won't just pay a lot more taxes, pay employees more money and not increase pricing for services/product. Democrats needs economic lessons and calculators.

 

I think we should go back to the tax rate under Reagan, was Reagan's tax rates too drastic for you?

I think we should raise taxes 15% on corps and then only give corps that do not outsource American jobs a 15% tax cut

 

If we had the same loopholes as back then so no one actually paid those rates ever? What's the point? Does a higher tax rate on paper make you feel better?

 

if that is true, then why do you care about raising the tax rate, if it doesn't affect anything, why care

 

You're obviously not following. Sorry. I know it can get complicated.

 

guess not, seems you think a higher tax rate only makes me feel better, doesn't really raise their rate, but a lower rate helps them.... it is confusing