$2.3 Billion budget deficit - “This is the flip side," Cuomo said. "Tax the rich, tax the rich, tax the rich. The rich leave, and now what do you do?”
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That guy is a friggen genius. He tells you that after the fact. What a tool.$2.3 Billion budget deficit - “This is the flip side," Cuomo said. "Tax the rich, tax the rich, tax the rich. The rich leave, and now what do you do?”
Mentioning Ireland may be particularly relevant to the purpose of this thread. Ireland has been judged as having the second most progressive income tax regime in Europe. Some highlights:Just got back from 10 days in Ireland. Economy is booming there. Plenty of American companies went there in the last decade. Facebook is putting in a big place now with thousands of jobs.
Explaining redistribution of wealth.
Grow the middle class - take away all the money the wealthy has and turn them into middle class.
Ok, let me tackle this a different way...
When I read what some are posting here, in my mind, I see predetermined responses regarding redistribution....Over-taxing the wealthy (those considered wealthy)... The ultra wealthy leaving for better tax policies for them....
All of that makes sense...It's a repeated narrative and does have a great deal of truth.... None of it comes up with a solution.
I'm going to speculate that no one has actually bothered to read the links I posted and have formed opinions deep-rooted in their beliefs. It's safe and convenient to fall back on conformation bias... I'm suggesting you neutralize your thoughts and be open to an expanded understanding.
I think most here are 1% thinking they've made it with no concerns for themselves personally. Further perpetuating the general mantras of flat-tax, everyone need to have skin in the game, not enough money for entitlements, etc... Thing is I'm right there with you...These could be my statements too... But it doesn't address the elephant in the room, the massive $22 Trillion dollar debt (That's growing) and the fact that an exponential amount of assets and wealth are owned by .1%....
If you're playing Monopoly and one person ends up with all the assets, how do you think the future of the game is going to go?
Produce more money? Inflation? A million dollar boat isn't what it used to be..
This borders on an existential question...
I think what you mean is capitalism has to work for everyone??
With the exception of 12 years since WW2 the government has spent more than it took in. One party is as guilty as the other when it comes to deficit spending. With the assumption that what our government spends needs to be spent....we can't keep adding a trillion/yr to our debt. That means some more money got to come from somewhere. You can't squeeze blood out of a turnip, that eliminates about the lower 50%.Ok, let me tackle this a different way...
When I read what some are posting here, in my mind, I see predetermined responses regarding redistribution....Over-taxing the wealthy (those considered wealthy)... The ultra wealthy leaving for better tax policies for them....
All of that makes sense...It's a repeated narrative and does have a great deal of truth.... None of it comes up with a solution.
I'm going to speculate that no one has actually bothered to read the links I posted and have formed opinions deep-rooted in their beliefs. It's safe and convenient to fall back on conformation bias... I'm suggesting you neutralize your thoughts and be open to an expanded understanding.
I think most here are 1% thinking they've made it with no concerns for themselves personally. Further perpetuating the general mantras of flat-tax, everyone need to have skin in the game, not enough money for entitlements, etc... Thing is I'm right there with you...These could be my statements too... But it doesn't address the elephant in the room, the massive $22 Trillion dollar debt (That's growing) and the fact that an exponential amount of assets and wealth are owned by .1%....
If you're playing Monopoly and one person ends up with all the assets, how do you think the future of the game is going to go?
Produce more money? Inflation? A million dollar boat isn't what it used to be..
This borders on an existential question...
No, it's more like I'm screaming fire because there is a fire in our building and no one cares because they haven't felt the heat yet.... We aren't putting out the fire.
Forget the number on this graph... I'm using it because it's the closest I could find to a representation of what I'm writing. I wish I could extrapolate out in 5 yr increments for the next 3 decades and you could see how the graph, with today's policies, would look.... That little bit of thickness between the 90%th and 99th will thin out, or become inconsequential with inflation...
The 90% scream at the 1% and blame them for their woes
The 1% look to the left of the graph and claim the 90% aren't paying their share.
Meanwhile the .01% are over there being defended by the 1% and insulated by policy and amassing a staggering amount of $110 Trillion in assets.
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With the exception of 12 years since WW2 the government has spent more than it took in....
I think you're asking the wrong question. The question isn't why are the .1% amassing assets and wealth and what can we do about it? (a lets get them mentality) The question is why can't the 90% participate as well? We can punish the .1% all we want. It won't work. We need policies that help the 90% build their own wealth.
Before we talk about increasing taxes, we need to get serious about waste and abuse...In my opinion, it would be easy to balance a budget if the parties worked together on fiscally conservative policies that dealt with this abuse and waste.... Federally and locally...
https://www.openthebooks.com/
Ok, let me tackle this a different way...
When I read what some are posting here, in my mind, I see predetermined responses regarding redistribution....Over-taxing the wealthy (those considered wealthy)... The ultra wealthy leaving for better tax policies for them....
All of that makes sense...It's a repeated narrative and does have a great deal of truth.... None of it comes up with a solution.
I'm going to speculate that no one has actually bothered to read the links I posted and have formed opinions deep-rooted in their beliefs. It's safe and convenient to fall back on conformation bias... I'm suggesting you neutralize your thoughts and be open to an expanded understanding.
I think most here are 1% thinking they've made it with no concerns for themselves personally. Further perpetuating the general mantras of flat-tax, everyone need to have skin in the game, not enough money for entitlements, etc... Thing is I'm right there with you...These could be my statements too... But it doesn't address the elephant in the room, the massive $22 Trillion dollar debt (That's growing) and the fact that an exponential amount of assets and wealth are owned by .1%....
If you're playing Monopoly and one person ends up with all the assets, how do you think the future of the game is going to go?
Produce more money? Inflation? A million dollar boat isn't what it used to be..
This borders on an existential question...
You are correct, I have not read the links. Typically there is a website for every position that includes wonderful data. .....
My omission that I have not read the links. Out of courtesy to you and this discussion I should, and I will.
What I see is all parties involved need to trim the fat. .....
Sorry just my screwed up sence of thought.
Ed
$2.3 Billion budget deficit - “This is the flip side," Cuomo said. "Tax the rich, tax the rich, tax the rich. The rich leave, and now what do you do?”