51–60 of 320 posts
> Wealth inequality is just a radical left fairy tale to villainize the hard-working 1%. The problem with that mindset is that we know how it's going to end up: it's not only the 0.1% or 1% that are going to suffer the wealth tax. It's the 30%. At first the "tax on billionaire" was supposed to be that: a tax on billionaires. But then there are already publications explaining how "taxing anyone who has more than a mil…
Earlier quoted context omitted.
The left likes to constantly watch and complain of how much money others have. It's amazing how petty they are, behaviors frequently seen in 5 year old children, and in leftist adults. Waaaah waaah, the size of his cake is bigger. Waaaaah
Building strawmen and characterizing roughly 50% of the population as crying babies on the basis of you not agreeing with their politics sure seems like something a very mature and collected person would do.
Noahopinion has a very recent interesting article on wealth and taxation. It makes me mad because it contradicts a lot of cherished ideas I have about the rich and taxation, but probably makes sense in this conversation: https://www.noahpinion.blog/p/theres-not-that-much-wealth-in...
Wealth is unelected power, a bug. It’s reasonable to say there should be limits on wealth, considering most wealthy people were lucky (either by birth or “right place right time”) but attempt to post rationalize it as anything else. Would you want someone who won a lottery ticket to have power over your life at scale? Because that’s what excess wealth is, a power dynamic powered by a suboptimal system masquerading as…
"Paul paints a rosy picture but doesn't mention that incomes for lower and middle-class families have fallen since the 80s." Doesn't look like it: median income in 2019 was $44K, in 2001 it was $31K. That's adjusted for inflation. Source: https://en.wikipedia.org/wiki/Income_in_the_United_States I don't like it when the facts look wrong after two minutes' googling.
For example looking at the number of median salaries required to buy a house tells a different story.
These analyses never mention the fact that the consumption of wealth by the government has vastly expanded. Where does one think that wealth came from?
On one side, it is effectively the only real tax a many in the "ownership class" are paying - relative to their wealth.
On the other side, it is a really problematic tax for entrepreneurs. It is downright horrible for startups and scaleups - critical funds that should be used to grow your company, has to be given out in dividends to founders, so that they can afford to pay the wealth tax.
And it is unfair - as it is a tax that foreign owners don't have to pay, but domestic owners have to pay. One natural consequence of this has been that the wealthy people are simply...leaving the country. (our total / combined max wealth tax is 1.1%)
This article feels like an attempt to morally wash one's hands of the moral stink of capitalism. Do you really think that because you're in tech and not mining, that the accumulation of wealth is any less driven by exploitation? By the way, I don't know the answer to this. I myself am a landlord. But if we're getting into morality, let's fully examine this. 11.5% of Americans are below the poverty line. The same econ…
The article assumes that wealth inequality is bad, but never explains it.
The thing is, people all have different abilities and make different choices in life. These lead inevitably to different results. In order to make everyone equal, peoples' freedoms must be taken away.
Noahopinion has a very recent interesting article on wealth and taxation. It makes me mad because it contradicts a lot of cherished ideas I have about the rich and taxation, but probably makes sense in this conversation: https://www.noahpinion.blog/p/theres-not-that-much-wealth-in...
Wealth is unelected power, a bug. It’s reasonable to say there should be limits on wealth, considering most wealthy people were lucky (either by birth or “right place right time”) but attempt to post rationalize it as anything else. Would you want someone who won a lottery ticket to have power over your life at scale? Because that’s what excess wealth is, a power dynamic powered by a suboptimal system masquerading as…
PG does make a reasonable point here. Capital is much less of a barrier than in the past for starting a business. A small group of people with no outside investment can do a lot of damage.