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Tue Apr 16, 2019, 02:06 PM

Important (shocking, appalling) info from Robert Reich:


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Reply Important (shocking, appalling) info from Robert Reich: (Original post)
tblue37 Apr 2019 OP
True Dough Apr 2019 #1
Traildogbob Apr 2019 #6
progree Apr 2019 #20
democratisphere Apr 2019 #2
erronis Apr 2019 #3
exboyfil Apr 2019 #4
Pluvious Apr 2019 #5
Fritz Walter Apr 2019 #7
BigOleDummy Apr 2019 #10
zentrum Apr 2019 #8
Boomerproud Apr 2019 #9
PoindexterOglethorpe Apr 2019 #11
riverine Apr 2019 #13
PoindexterOglethorpe Apr 2019 #15
riverine Apr 2019 #17
Volaris Apr 2019 #12
Blue_true Apr 2019 #14
a kennedy Apr 2019 #16
alfredo Apr 2019 #18
southerncrone Apr 2019 #19

Response to tblue37 (Original post)

Tue Apr 16, 2019, 02:14 PM

1. APPALLING!

More evidence of the rich getting richer. The imbalance is far too much. We know Trump has only made things worse with his tax cut.

We need to reverse course in a big, big way.

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Response to True Dough (Reply #1)

Tue Apr 16, 2019, 03:45 PM

6. GOP tax scam

Let us not forget, he made the Corp and billionaire tax cut permanent. The tax "cut" for the rest of us is "one" year only. That cut had millions of tax payers realize they owed a shit load back this year. Just wait and see what happens next year, when "our" tax break expires. MAGA! 60, that's right, 60 major corporations paid zero taxes this year, actually many got refunds or even subsidies. Winning, the damn winning is killing us. Damn libruls with socialism economics.

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Response to Traildogbob (Reply #6)

Wed Apr 17, 2019, 09:04 AM

20. The individual income tax provisions expire at the end of 2025. It's not a one year thing, but 8

years.
https://www.taxpolicycenter.org/taxvox/despite-tax-cuts-and-jobs-act-federal-tax-system-becoming-more-progressive-over-time

But you are correct that the individual tax cuts are temporary, while the corporate ones are permanent.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 02:32 PM

2. Corruption is constantly transferring more and more wealth to the already wealthiest.

We need to elect politicians that will actually do something about THIS instead of providing a whole bunch of rambling lip service.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 02:47 PM

3. This is a bit of a false cut-off - the Federal Minimum Wage is only $7.25/hour

Anyone making more than that would not be counted in this comparison.

It would be better to use the federal poverty level ($12,140/year for an individual) but that would not have made the differences seem so stark.

Still the incredible imbalance does not bode well for future stability.


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Response to erronis (Reply #3)

Tue Apr 16, 2019, 02:52 PM

4. That was my thought

I would like to get a handle on the ratio of Federal taxes/wealth for individuals. The three richest in the US have more wealth than the bottom 50%.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 03:01 PM

5. I recently reviewed all the fines they pay...

It just an expense item (law breaking).

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 04:36 PM

7. Or we could just let history repeat itself

By now, we’ve all seen the warning from Nick Hanauer to fellow plutocrats about pitchforks.
Or — if you haven’t — watch this:


In light of recent news from France, perhaps these oligarchs would respond better if guillotines were re-introduced to public squares.

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Response to Fritz Walter (Reply #7)

Tue Apr 16, 2019, 06:32 PM

10. I am sorry to say..

.. that this was the first time I've seen this. This guy seems to get it but I do not think the majority of his class does or will. People like our chump in chief DO think they are better than the rest of us and it WILL probably take us getting our pitchforks out before they listen. Thank you for posting this Mr. Walter.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 04:38 PM

8. Paul Ryan considered his

...work done once the tax cut for the rich was enacted. McConnell also considers it his signature action.

Demons.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 05:28 PM

9. Is anyone surprised? This is Reality 101.

Not even worth a shrug.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 07:39 PM

11. We have a federal minimum wage.

We need a federal maximum wage.

I'm willing to be very generous and set it at five million dollars a year. If you can't live on that, then too bad.

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Response to PoindexterOglethorpe (Reply #11)

Tue Apr 16, 2019, 08:22 PM

13. Pro athletes would be hit hardest by a $5 million cap.

 

Since people like Warren Buffett, Bezos, and Gates made their fortunes on stock appreciation. You can't stop that kind of wealth creation unless you are a full on company-seizing socialist/communist.

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Response to riverine (Reply #13)

Tue Apr 16, 2019, 08:52 PM

15. So?

If they can't live on $5million/year I haven't a lot of sympathy. Not to mention, it's not all that long ago that pro athletes didn't make millions and millions of dollars. I don't happen to be interested enough in pro sports to attend a game, but every so often I see recent information on how much tickets cost and I'm genuinely shocked. I'm astonished that anyone can afford to go to the games, but maybe my response is simply an indication of how relatively poor I really am.

And yeah, I know that even without a federal maximum people high up in the corporate hierarchy have all sorts of tricks to evade taxes, such as stock options.

Someone who understands these things better than I do can come up with a sensible solution. Maybe the cap should be $10 or $20 million, but yes, I honestly think there ought to be an upper limit to wages. Confiscating excess income and redistributing it does not seem like such a bad idea.

And I'm not advocating a tax on wealth as such. Occasionally such things have been brought up here. I am doing as well as I am, even though my income is somewhat below the national median, because most of my adult life I saved significant portions of my income, invested it, and am now finally reaping the reward. So if you save and invest, you deserve to reap the rewards. But a CEO

There ought to be a limit on what companies can pay their upper management. At least have a law that says the highest paid employees can only make some specific multiple of the lowest paid employee, and that multiple should not be thousands of times more. A couple of hundred times more at the very most. THAT would create a rising tide that would lift all boats.

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Response to PoindexterOglethorpe (Reply #15)

Tue Apr 16, 2019, 09:05 PM

17. I commend you for being consistent on that.

 

Many on the far left don't mind a LeBron James or Leonardo DeCaprio pulling down $50 milllion/yr but will gripe about a CEO who does the same.

That said I don't support a cap but will support higher tax rates on that kind of income.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 08:17 PM

12. When did we decide that MAKING MONEY OFF OF MAKING MONEY was an American, Christian 'Value'

Good gods, yes. TAX these fuckers.

There IS a federal mininum wage. There should ALSO BE a federal MAXIMUM wage (set at a hundred grand per year).

You should be able to EARN, or 'pay yourself, or someone else' a hundred grand per year, tax-free.
Anything over that regardless of source, should be considered INCOME, and should be taxed on a progressive curve starting at 10%.

Any accountant worth their dergree should be able to do that very simple math, and that should apply to corps as well as individuals.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 08:31 PM

14. The bonuses get distributed to everyone.

Yes, higher ups get bigger bonuses, but relative new hires can also take home tens of thousands in bonus money. Fantastical headlines always get people's attention, but the bare truth usually is something else.

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 09:01 PM

16. WTF????

WTF? WTF? WTF? WTF? WTF?

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 11:08 PM

18. From the same Robert Reich thread

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Response to tblue37 (Original post)

Tue Apr 16, 2019, 11:51 PM

19. Criminal and cruel

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