Brillant sista destroys billionaires at Davos philatropy conference

[Wild self]

This is why I don't think having that high of a tax does anything for lower class. The truth is America needs corporate reform laws that limit these giant corps ability to exploit. Truth is corporate America runs this country. You have shareholders who demand high dividends, which forces corps to cut corners; you have politicians essentially employed by these corporations who pass laws that make it legal for them to exploit the working class; and then you have the working class who are forced to play by these rules, partly because of those very laws, but also because the system makes no exception for people who don't want to participate. Don't want to play the game? Ok, no insurance. No insurance? Ok pay govt through Obamacare (not a fan of that aspect of Obamacare but I see why it was put in place), and pray nothing catastrophic happens to you.

This system cannot sustain itself any longer. It wasn't built to be able to withstand the economy being led by these mega corporations. The education system, healthcare system is in shambles because of people who actively push to repress major reform. Due to this, the economy is going to fold into a really severe depression. And when that does happen, it will affect everyone from top to bottom. When we all suffer together is when things will change.

By the way these corporations are international. If things get bad here, they can relocate anywhere in the world, or at least shift the main focus abroad. However, there are way more variables in play that corporations can't control abroad, which is why they would like to stay here in America, where exploitation is easy access and the government is easily manipulated. Once we put reform on the fore front and commit to it, corps will be shook.

By the way, corporations aren't entities unto themselves like people think. The people at the very top decide all the choices made. When a CEO fukks up, it's not the company itself acting to replace him, as if doctrine is stronger than the entity itself; it's shareholders that get together and make choice to replace the figurehead, and usually in a symbolic act (firing them and leaking it to the media), not a literal one (CEOs get "retirement" packages).

Yeah, its gonna fall apart. And populism is growing popular all over the world despite the recent right-wing victories of the last few years. People are fed up with these fallacy type arguments that never made sense, and a bloody revolt isn't behind at all.

All this goes back to the idea that people are rich/successfull because they are somewhat "chosen", so in their eyes there is no real reason to share with the "unworthy". EXCEPT charity and philantropy, because that is more about who is giving than who is receiving : with taxes you can't do the photo op/attach your name, with philantropy you can. This goes hand in hand with the condescending idea that poorer people are in their position by their own fault, and on top of that would misuse whatever solidarity money they may receive through taxes. Add to that the "self-made man" myth, Thatcher-type "There is no society" and the US antagonism towards "the State" and you easily understand why taxation is damn near the devil to some. (The US being the world cultural leader, whatever happens there impacts the world through multinationals and whatnot).

These wealthy people feel that America doesn't deserve universal healthcare or great infrastructure or teachers in public schools getting paid well.

 

[I Really Mean It]

Most adults are in their situations by bad choices. Once you're able to provide for yourself and become an adult I do think your life is largely determined by your own choices. We aren't talking about kids which I agree with.

Most black adults have no wealth. Is that because of bad choices or white supremacy?

 

[Astroslik]

Where did all these smart people in this thread come from that believe in liberal policies like taxing the rich to give to the poor?



Y'all in the wrong place or something? This is TLR the home of the coli militant alt right, higher learning is that way ->

Higher taxes doesn’t mean shyt if the government will still mismanage it, c00n ass nikka.

 

[jj23]

Yes, lets keep advocating for Government to take MORE of people's money, because they are so good at managing and allocating wealth..



Much rather a guy like Elon Musk keeping his money to do cool shyt and solve problems... Government just mismanages tax revenue...

Considering the state of Tesla financially, let's not pretend giving the Elon Musks of the world more money solves anything either.

 

[Arithmetic]

Decrease taxes for millionaires and billionaires who are already engaged in the most opportunistic tax avoidance schemes. We Americans are programmed to accept this as normal. Repatriate all the offshore money and tax it accordingly.

 

[jj23]

Decrease taxes for millionaires and billionaires who are already engaged in the most opportunistic tax avoidance schemes. We Americans are programmed to accept this as normal. Repatriate all the offshore money and tax it accordingly.

That is where it gets even murkier, as there are countries that thrive from these services. Are we prepared to watch small countries like Bermuda suffer? Is there a way to phase the repatriation to avoid this?

 

[Arithmetic]

Don't vote for anyone pushing for 70% tax.
If you ever win the lottery, get rich from an invention, plain old gold digging, run a business that takes off, sign the fattest sports contract, etc., you are going to fall into the rich tax bracket and you are going to get your o-ring blown out.

Fail to comprehend what a top marginal tax rate is, brehs.


Sit this conversation out homie.

 

[Arithmetic]

That is where it gets even murkier, as there are countries that thrive from these services. Are we prepared to watch small countries like Bermuda suffer? Is there a way to phase the repatriation to avoid this?

Good point. There's definitely a lot to consider.

 

[---]

Most black adults have no wealth. Is that because of bad choices or white supremacy?

Both!

 

[mbewane]

Most adults are in their situations by bad choices. Once you're able to provide for yourself and become an adult I do think your life is largely determined by your own choices. We aren't talking about kids which I agree with.

Access to education, to property, to healthcare, to cultural goods, to networks, to efficient infrastructure, generational wealth, ability to do unpaid internships, to travel, etc...would disagree with that statement. Obviously personal choices play a huge part, but not everyone has access to the same choices to begin with. But indeed, the right-wing way of thinking is that society doesn't exist and that every poor person, person in jail, sick, undereducated, etc...is in that position by their own fault. Very useful to brush away structural racism, for example, and to avoid adressing inequalities.

 

[unit321]

Fail to comprehend what a top marginal tax rate is, brehs.


Sit this conversation out homie.

flat income tax without deductions is the best for all Americans. This way, all the rich folks pay the same percentage as everyone else, and don't have loopholes to use. And when you are moving up from low income to middle income, your tax bracket doesn't hurt your upward climb in net income as much as a progressive income tax. This way, when you get a raise, it all doesn't get flushed down the drain when you take your family out to Sizzler.

 

[unit321]

This shyt only works on teh dumbass republican base who thinks they're all one lucky break from being millionaires.

Not everyone plays lotto, not everyone has a chance to get a pro sports contract, and not everyone has the smarts to become a CEO, doctor or lawyer, but you could become a music writer.

 

[unit321]

The media has oversimplified the concept of the 70% tax rate. From my understanding it doesn't mean you will tax all income at 70% what they are proposing is that after a certain point say 1 million dollars all money earned after that 1 million dollars will be taxed at that higher rate. The overall idea being that once you hit that certain point of earnings the extra money is pointless as far as how much more you can do with it (other than hoard it). Also these scaled higher tax rates have been in place multiple times in history here in the United States and it didn't stop people from becoming millionaires or economic growth.

Rich folks leave for Monaco.
They aren't celebrities or people of high profile. They are just rich folks no one knows about and they take all their money and move to Europe. All that potential taxable income is now gone. That is what's going to happen when if they get this 70% tax going. They are going to move or hide their wealth.

 

[ig88]

Im sure he’ll look at his bank account and feel better shortly

 

[philmonroe]

Most black adults have no wealth. Is that because of bad choices or white supremacy?

In general I'd say bad choices. I'm sure some aren't advancing because of racism too but that don't mean people aren't bullshytting. That's regardless of race as with anything.