Taxes; National Debt; Balanced Budget; and the diff Between the 1% and .1% - Winter Thread

I agree that we are not in a good place. There are definite signals which say we are headed into a difficult situation. Your links to the articles contain data which supports that we have a growing problem.

We are in complete agreement on those points.

The only point of disagreement I think - is the link of tying the problem to the .01%.

It is the difference between correlation and causality.

Take all the money away from the .01% - the problem in the middle class still exists.
 
Curious, what do you est. the net worth of the combined .5% is in the US? Based on data, that I grant you, is elusive...(I think by design)... The zerohedge article outlines it best, but doesn't fill in the blanks...

I would est. at $35 Trillion and growing... I'm not sure how you don't see a connection, because the growth has to come from somewhere...Either phantom valuation (Though in this case, it would be across all classes), different class, or QE monetary infusion...Likely all three...Likely the top 10% because the bottom doesn't have anything to give...And I see this exponential curve continuing down this path....When they say the middle is disappearing, it's subtle ...

Are you still in economics or the financial industry?

Thanks for the dialog, BTW...
 
Screw the “green new deal” what we really need right now is a “clean new deal” to straighten out Congress, reign in government slandering, and have real tax reform.
 
Physical gold & silver (in your control,not some worthless gold & stock Portfolio investment) for profit. IMHO when the US dollar becomes worthless or worth pennies on the dollar G&S next to your own food supply will be the only thing tradeable to help live on.You can the American dollar bills for TP.

Hope I am totally wrong and don’t think it will happen within the remainder of my living years but children & grand children I believe can bank on it. The politicians & even worse, we Americans have let this happen.

Most likely 95% of the Counties, Cities, States and any other assets managed on behalf of others such as public services, police, fire, public education have such great debt from hidden unfounded liabilities. The unions have sold our soles out to the devils just like the politicians and the day will come when the bubble bursts. Has happened all through out time with many great countries but the giveaways buying votes now as in the past will not be stopped by us as it is us whom is allowing this to continue.

Sorry for the rant but that’s what I fully believe as the hand writing is everywhere. I want and would loved to be proven wrong as if I’m only correct by a small percentage point the water will raise faster than my boat. God Bless American and our a$$es are going to be handed to us on a plate we can’t eat out way out of.
 
The thread is old but I still wanted to add that I totally agree that we need to focus on the ultra-wealthy and their impact on the economy. It's easy to get caught up in blaming the 1% as a whole, but the real issue lies with the .1% who hold an insane amount of wealth and power. Those articles you shared are a great starting point for discussion. As for a progressive capital gains tax, I think it's definitely worth considering. The turbo rich is making money hand over fist from investments and paying a much lower tax rate on that income than the rest of us. And we have to work with companies like turbodebt reviews to get our debts sorted out. It's not fair and I think the rich should be taxed more.
 

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