Re: Let me get this straight: you're blaming a Rep

try this on:

The buzz phrase of the left is "wealth inequity". Dastardly capitalists have robbed the comrades of everything. Need to tax it away from them. BTW, don't you love it when someone attaches a solution to a problem that doesn't have anything to do with the problem? Anyway, wealth inequity:

Ten years ago a guy with a 401K or an IRA could buy a little safety in the cash market. $100,000 would buy something that would earn about $5500. This was in the first year or two of the Obama admin, when the debt was large but manageable, about 70% of GDP.

Five years ago, that same $100K would get only $2500/year. That was the year the debt ballooned to 100% of GDP/

Today, with the debt at 125% of GDP (maybe more) that $100K gets basically nothing.

If you don't believe that the debt causes inflation, there it is, dollars buying less and less. It hasn't yet hit goods and services, but it will.

With all those printed dollars floating around, and no interest to be earned, they have to go somewhere. Equities. A stock market way above supportable levels. Any guesses where that will lead?

Meanwhile, we respond to covid by scaring the sh** out of everybody and shutting down businesses. Then we prop them up with the above said printed dollars. But anyone who is looking sees that its not working. As small businesses fail, they are being bought by the large corporates. That is not theory. I will name names later (come back and ask me), but I know of restaurants in Greenville today where the local owner can no longer keep losing money, and are selling to the giants. We will see "Bill's BBQ" become "Stickyfingers".

Both of those current happenings are huge transfers of wealth from the middle class to the top percent.

So, liberal economists and Dems, tell me again how it is that deficit govt spending is good, and that tax manipulations fix this.

CUintulsa®

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Is pretty easy, I think.

Oct 26, 2020, 9:50 PM

The left's mantra for tax policy is "wealth inequity".

The left also pushes shutdowns and simultaneous bail outs for the then failing businesses. The Reps have to take blame for that too - being too scared to face the fallout from resisting "stimulus" packages (remember, economics is not for cowards) - but I covered the actual numbers above. 40% of our total debt has come from one president. Granted, this one is trying to catch up.

So, what do those two policies do? Upheaval always benefits the upper 1% of the upper 1%, because they are the ones who pick up the pieces laying on the ground. In the above two cases:

1. Failing small businesses get bought up by that top %. Check that: they are being bought up as we speak. If you like Stickyfingers and Walmart, and never drive another 1/2 mile to buy from Bill's BBQ and the local Ace Hardware, you're going to love 2025.

2. Inflation is of small consequence to the upper % because they don't hold cash and are not dependent on earned or interest income. They own stuff - stocks, businesses, land, banks, etc. Denominate that stuff however you want to, divide the dollar however many times you want to, they still own that stuff. I hope you can see that when inflation in the financial sector shifts money to equities, and when the inflated stock market later adjusts - hopefully not another 2009 - the really wealthy might rather it didn't happen but it's mom and pop who are devastated. A retired or future retired person wage earner with an IRA or 401K just lost a bunch of what they need to live on, but Elon Musk and Jeff Bezos just keep right on going, getting bigger.

https://www.pewresearch.org/fact-tank/2017/11/01/how-wealth-inequality-has-changed-in-the-u-s-since-the-great-recession-by-race-ethnicity-and-income/

We have driven businesses into the ground with no evidence that doing so has affected covid deaths at all, and we have adopted an attitude that loads more debt as a response is a good thing. Both are transferring wealth from the average person to the uber wealth at a huge rate.

People like you say, "Oh my, you're rambling, I can't understand", then a few years from now another report will describe how the wealthy are more so than ever, and you'll say, "Those bas****s!! Tax them all to he**!"

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When Joe Biden's small business tax hike hits, it will

He's only taxing people who make over $400,000

yes. I heard him say he's eliminating the small business

again, I like and benefit from the flow through deduction.

Re: yes. I heard him say he's eliminating the small business

That's impossible. Obama already killed all business.***

Why not just eliminate ALL taxes

yes. I would like to eliminate the income tax and replace it

Re: yes. I would like to eliminate the income tax and replace it

Why won't Republicans just admit their deceit?

Re: yes. I would like to eliminate the income tax and replace it

not really easy targets as

Why isn't Joe following the Wall Street playbook?***

If you don't want to pay any taxes, you don't really have to

Maybe he could just tax the locals into a prosperous way of

Of just be just below Median in Income

Wait..doesn't your side swear on this "modern monetary

Let me get this straight: you're blaming a Rep

Thanks for making my point for me.***

Down to that, are you?***

I'll blame both.

9/11 was the beginning of our current deficit situation...

Not all taxes, but most of them.

That sounds like a Koch Brothers 101 Syllabus.

You're right, we have a lot of evidence showing that

Right.***

Cough Sweden Cough Cough

Sweden's personal income tax rate for anyone making

Good for you.

Then why don’t you go live in Sweden?

I hope so we both know.

Your service means nothing to them because

Re: Your service means nothing to them because

Re: You're right, we have a lot of evidence showing that

Re: Not all taxes, but most of them.

If that wasn't clear enough, not economics-y enough,

You're all over the place with this one.***

Economics isn't for intellectual or emotional sissies.***

I'm just not tough enough to understand your rambling logic.***

Is pretty easy, I think.

Re: When Joe Biden's small business tax hike hits, it will

Yep. Scares me worse than COVID ever did.***

Re: When Joe Biden's small business tax hike hits, it will

Re: When Joe Biden's small business tax hike hits, it will

HEY DID YALL HEAR THAT OBAMA WAS TAKING OUR GUNS?!?!***

Old hat... I'm just wondering who took all the ammo...?***

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