News: France 75% millionaire tax

PhillipsPierce said:
The truth is that it isn't about middle class vs rich. Those are meaningless distinctions in results, rooting out from very meaningful distinctions in lifestyle; The poor and middle class are consumers and the rich, aside from a few Paris Hiltons in the world, are producers.

I've created several dozen jobs since getting in to business a few years ago. I've also lost some jobs in that time as well for businesses that just didn't pan out long term. I made some poor decisions and failed in some plans because of them, but ultimately succeeded through systematic chance taking and a focus on producing. But none of the people I've hired or let go created any jobs at all themselves. It's easy to bitch and complain about things you've never done yourself.

All the businesses I've started produced something that others consumed. I consume shit too -the difference is I produce more then I consume which allows me, when I want to, to consume large.

Out of all my friends I was the last person to have a car -any car. I mean years late. They knew I was doing 6 figures and asked me why the fuck I don't get and drive a car when I can obviously afford it. Am I mentally all there? I told them because it costs me too much to buy a car when I could invest the 50k it'd cost me for a decent car to make 150k a few years later. I could reinvest that 150k to make 400k later -not when I'm 60, but in 2-5 years through aggressive investment in to systems of production. That didn't compute. Consume a little now, go broke later is the common motto it seems. I say produce a lot now to consume large later.

I talk to my mom about this -she doesn't like rich people. Forget for a second that I give her a 2k per month allowance because shes 60 and completely broke and indebted. Usually I'm able to get to the point with her about producing vs consuming. "The rich produce. The consumer pays for their riches. They didn't steal money, you, consumers, literally give them the money they now own in exchange for their produce. So what's wrong with them being rich?"

This is where her next logical contortion starts; scale. "OK, you're right, they produced something and got rich. But they can't spend 5-10 billion dollars anyway, are we just going to give them all the money in the world because they made something once? Are we going to let their kids, grand kids and every ancestor of theirs live disgustingly rich and easy for the rest of times because their dads had a good idea?"

I say why the hell not? You PAID them.

This is the problem with the idea of middle class vs rich. It's not. It's consumer vs producer. The middle class indeed drives the rich through consumption, but consumption is a natural byproduct of LIFE. The difference is they produce nothing.

I do think we have a layer of people in high finance who produce squat. But they are small portion of the rich, though the most powerful of them because they have poisoned our government and that's not conspiracy BS. I'm not for any kind of business lobbying in Washington because ultimately it leads to a screwed up, sick and schizophrenic government like the one we have today.

But the rich aren't the problem. Blind consumers who don't produce squat but then complain when they get run over are.
Click to expand...

This is getting saved in my best of WF posts archive
 


There's not enough money to (over)tax the rich to reach a suitable deficit.
Buffett Rule Tax Bill Would Raise $47 Billion Over 10 Years - Bloomberg

^Buffett rule would raise not even $50 billion over the next decade, while our government overspends at least 1 trillion dollars ANNUALLY. We're all smart here; does rising taxes on the rich solve our problems?

We need to start cutting, and (in my opinion) pensions are the first that need slashing.
 
titanium777 said:
There's not enough money to (over)tax the rich to reach a suitable deficit.
Buffett Rule Tax Bill Would Raise $47 Billion Over 10 Years - Bloomberg

^Buffett rule would raise not even $50 billion over the next decade, while our government overspends at least 1 trillion dollars ANNUALLY. We're all smart here; does rising taxes on the rich solve our problems?

We need to start cutting, and (in my opinion) pensions are the first that need slashing.
Click to expand...

2/3 of what our government spends goes to Social Security and Medicare. Unless that changes you can't tax people enough to support the unpaid liabilities
 
SHGDigitalMedia said:
2/3 of what our government spends goes to Social Security and Medicare. Unless that changes you can't tax people enough to support the unpaid liabilities
Click to expand...
Don't forget the departments of offense!

You could literally slash 99.999999999999999999% of this country's spending and have a stronger fiscal nation with far more employment.

Of course that idea doesn't sit too well with the fascists, banksters and corporatists in charge of this country so nevermind...
 
France is doing the same thing the US did to get rid of our debt after the great depression and WW2. This is likely going to happen here if the US can't find any other way out. History has a way of repeating itself...

technical-view-of-Highest-marginal-rates.png

Historic Highest Marginal Tax Rate 1913-2011 | The Big Picture
 
You must log in or register to reply here.
Top Bottom