The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Didn’t a baseball player just sign a 10 year 700 million contract? IT does seem a bit silly to me, but if people will support the team, I guess they can pay what they want.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Didn’t a baseball player just sign a 10 year 700 million contract? IT does seem a bit silly to me, but if people will support the team, I guess they can pay what they want.
But what a better world it would be if he got 100m and 600m was invested in youth sports for kids in underserved areas.
Didn’t a baseball player just sign a 10 year 700 million contract? IT does seem a bit silly to me, but if people will support the team, I guess they can pay what they want.
The vanity projects of billionaire sports team owners I don’t think are a great analogy for the larger issue.
For the 1% vs. the middle class (much less blue collar / retail worker class) I think the fundamental issue is that the wealth advantages of property ownership has increased dramatically over the past 3-4 decades while wage growth has barely grown. And the wealthier you are, the more favorable property ownership becomes. The reasons seem to be complex and myriad: tax policy, access to information (retail investors don’t have the same information as the wealthy even talking purely about legally-acquired information), the range of stuff that we hand-wave under the vague term “globalization.”
As a secondary issue CEOs (and other top-level execs) have apparently become about 1209% better than they were in 1978. That’s sort of odd, and a remarkable increase in how good CEOs are, and how they’re getting better at a faster-and-faster rate. While the rest of us are just getting slowly more efficient. Even so good that the “bad” ones are given amazing golden parachutes for just having blessed their companies with their presence for short periods.
We need much stricter laws on estate taxation. That won’t prevent folks like Musk, Gates, etc., from retaining wealth during their lifetimes. But, it solves some of the problem with people like the Walton family inheriting great wealth. If most of that wealth is retained for only one generation (ie, the person who built the company), in the long run we would be a much less unequal society.
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I worry about what’s on my own plate and don’t eyeball what’s on other’s.
Don’t buy what they are selling if you have a problem with what they are making.
That being said, all in favor of progressive taxation.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Didn’t a baseball player just sign a 10 year 700 million contract? IT does seem a bit silly to me, but if people will support the team, I guess they can pay what they want.
But what a better world it would be if he got 100m and 600m was invested in youth sports for kids in underserved areas.
Yeah but then you get a $100m player not a $700m, and then the fans don’t come to watch, you don’t sell as many shirts, etc. and pretty soon you don’t have money to buy top players. Of course this is US franchise sports so failure isn’t punished like it is in other professional leagues around the world where you can literally go bankrupt from failure.
I worry about what’s on my own plate and don’t eyeball what’s on other’s.
**Don’t buy what they are selling if you have a problem with what they are making. **
That being said, all in favor of progressive taxation.
That was my point.
The pro-sports problem is perhaps representative of a much larger problem.
Most professional sports teams are a tremendous waste of money -every way you look at it.
Local tax payers are the most important investors.
They get a very poor return on their investment.
Local businesses DO NOT benefit significantly from this investment either
Billionaires get to “buy” name recognition with their own money and ALSO tax payer money. But, in the end, it is a poor investment for them also.
Players earn massive salaries. But ultimately, waste their fortunes on really stupid crap. They wind up broke by age 40.
So …
Public tax payers buy billionaires extra name recognition. And also fund shysters, hangers-on, and purveyors of luxury goods.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
The poors need to work harder.
Most professional sports teams are a tremendous waste of money -every way you look at it.
The way I look at it is I want to be entertained and watching the best in the world is the best entertainment.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Robin Hood had it right. Take from the rich and give to the poor.
If you make over 500k, the rest should be taxed at 100%. This includes investment income. But, it should be taxed at the local level, not the federal. The dollars should go back to your community, and you have a preference in where it goes. For example, if you make 600K, you get to allocate what charity or benevolent place the 100K goes. This 100K is also not taxed at all at a federal rate.
Soak the rich.
The Army-Navy game was entertaining.
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Yes, something should be done. It would be great if we could end policies that directly undermine the middle class.
This came out a few years ago. It is the only video that I have seen that is able to truly show how bad inequality is today in the United States (and the problem is even worse than when this video was made). 24 million views says that it clearly struck a nerve:
https://www.youtube.com/watch?v=QPKKQnijnsM
https://youtu.be/QPKKQnijnsM?feature=shared
Most professional sports teams are a tremendous waste of money -every way you look at it.
The way I look at it is I want to be entertained and watching the best in the world is the best entertainment.
I tell my kids this all the time…“life is not a spectator sport”. I can’t understand the folks that spend their lives sitting on their asses cheering for someone else to participate in something.
If more people had this approach, then sports incomes would moderate a tremendous amount.
Most professional sports teams are a tremendous waste of money -every way you look at it.
The way I look at it is I want to be entertained and watching the best in the world is the best entertainment.
Pay for it yourself.
Don’t get me wrong.
Maybe local government should be subsidizing something.
How about youth sports.
Maybe good infrastructure and parks
Does “watching stuff” really deserve a government handout?
Most professional sports teams are a tremendous waste of money -every way you look at it.
The way I look at it is I want to be entertained and watching the best in the world is the best entertainment.
Pay for it yourself.
Don’t get me wrong.
Maybe local government should be subsidizing something.
How about youth sports.
Maybe good infrastructure and parks
Does “watching stuff” really deserve a government handout?
I’m all for the fans paying for it. That’s what I do when I buy different services (Hulu, Peacock, Paramount).
The top 1% of American earners now own more wealth than the entire middle class Per USAToday.
Should something be done? Thoughts.
Robin Hood had it right. Take from the rich and give to the poor.
If you make over 500k, the rest should be taxed at 100%. This includes investment income. But, it should be taxed at the local level, not the federal. The dollars should go back to your community, and you have a preference in where it goes. For example, if you make 600K, you get to allocate what charity or benevolent place the 100K goes. This 100K is also not taxed at all at a federal rate.
Soak the rich.
So… No one makes over $500K in your plan? Anything I receive over $500K I have to give away? Sounds a lot like socialism to me. Think about all the charities that are supported by those bad rich guys that would suddenly lose that income. The lottery? Take that off the table. Who will play if the highest the jackpot ever goes to is $500k. Nothing the lotteries supplement would exist after that.
I don’t often award “Dumbest Post on the Internet Today” but this one is an exception.
BTW, in what world do you think a $500K income puts you in the “rich” category? Just because the average person is lucky to make 25% of that a year does not mean that person is rich by normal standards.
Most professional sports teams are a tremendous waste of money -every way you look at it.
The way I look at it is I want to be entertained and watching the best in the world is the best entertainment.
Pay for it yourself.
Don’t get me wrong.
Maybe local government should be subsidizing something.
How about youth sports.
Maybe good infrastructure and parks
Does “watching stuff” really deserve a government handout?
I’m all for the fans paying for it. That’s what I do when I buy different services (Hulu, Peacock, Paramount).
My point is that revenue is much lower than costs.
Tax payers are paying the difference.
Why should we have to pay for you to watch stuff?
Again… …
I am all for subsidies for youth sports, parks, recreation, infrastructure, art.
But low cost local “sports entertainment” is he just NOT a good public investment.
Local tax payers are the most important investors.
They get a very poor return on their investment.
how are you measuring their ROI