Dack Prescott or Aron Rodgers then by all means, get a box seat every game. If you are some schlub that the team wouldn’t miss if you never went to another game ( other than your money), then the devotion and Finanancial outlay seems a bit misguided.
Dude you claim to be from Texas and can’t even spell Dak. Get the fuck out of here with that bullshit.
And it is A-Aron.
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.
Yes, it’s very easy for the super rich to almost completely avoid estate tax, or just pay a token minimum. In 2020, estate tax was only collected from 1,275 estates, at an average of just over $7mm per estate for a total of $9.3bn.
I don’t love the idea of the government getting a huge windfall when some billionaire dies though. A lottery system would be fun … like, if Elon kicks it, sell off his assets, randomly draw 240,000 names and give them each $1 million.
(That example also shows just how absurd that kind of wealth is).
Soak the rich.
Know any good brine recipes?
I don’t often award “Dumbest Post on the Internet Today” but this one is an exception.
Don’t be so hasty. Tyler posted a new thread today.
The first thing to change is stopping SS at $160K. Why should a person making $50K pay 6.2% on 100% of their annual paycheck, but someone making $250K only gets taxed on 64% of theirs?
On paper, because the payout is also capped. Billionaires don’t get any larger a payout than those making $160K. And SS is supposed to be an annuity where you get out commensurate with what you put in. Not a subsidy program.
I’m not disagring with the idea. Just pointing out that it’s not as regressive as you suggest without bringing up the payout side.
Assuming people live an average life time, the people who pay in the least also get much more back than they actually paid in over their lifetimes. if you made 75,000 yearly, you don’t even get back what you paid in. And if you paid in the max amount you would pay in 610,000 and only receive 470,000 over a lifetime.
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.
Before the Reagan tax cuts, the highest income tax rate in this country was over 90% on everything over a certain amount, and this country was flush.
The rich were rich, the country was building interstate highways, airports, bridges and flying to the moon. And we were building a solid middle class.
The rich people didn’t like this so the had their Republican friends cut the tax rates for the richest people and they started borrowing to run the government
The rich are richer, the middle class is practically dead, and we are now a debtor nation
And we have Fox News to keep too many of us voting against our own interests!
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.
Before the Reagan tax cuts, the highest income tax rate in this country was over 90% on everything over a certain amount, and this country was flush.
The rich were rich, the country was building interstate highways, airports, bridges and flying to the moon. And we were building a solid middle class.
The rich people didn’t like this so the had their Republican friends cut the tax rates for the richest people and they started borrowing to run the government
The rich are richer, the middle class is practically dead, and we are now a debtor nation
And we have Fox News to keep too many of us voting against our own interests!
You nailed it!
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.
Getting rid of a regressive tax on the poor is a positive.
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.
Before the Reagan tax cuts, the highest income tax rate in this country was over 90% on everything over a certain amount, and this country was flush.
The rich were rich, the country was building interstate highways, airports, bridges and flying to the moon. And we were building a solid middle class.
The rich people didn’t like this so the had their Republican friends cut the tax rates for the richest people and they started borrowing to run the government
The rich are richer, the middle class is practically dead, and we are now a debtor nation
And we have Fox News to keep too many of us voting against our own interests!
You nailed it!
One thing Sweeny missed, tax revenue from corporations has fallen off a cliff.
[
One thing Sweeny missed, tax revenue from corporations has fallen off a cliff.
That’s part of why, per my first post in this thread, you get more advantage the wealthier you get. Because rich people tend to have more ownership stake in corporations. And are often very good at using corporate money so they don’t have to turn it into personal income and incur capital gains taxes (and if they screw up and have to pay capital gains taxes, those are are still lower than ordinary income which is another issue.).
[
One thing Sweeny missed, tax revenue from corporations has fallen off a cliff.
That’s part of why, per my first post in this thread, you get more advantage the wealthier you get. Because rich people tend to have more ownership stake in corporations. And are often very good at using corporate money so they don’t have to turn it into personal income and incur capital gains taxes (and if they screw up and have to pay capital gains taxes, those are are still lower than ordinary income which is another issue.).
Indeed. Lots of focus on income but equity, and the ability to leverage it, is where the real money is.
While I don’t disagree with your view on the liberal limos here, I highly doubt you need a house/car/exercise stuff…certainly you can live in a shared studio space/public transport/walk for exercise…so why don’t you give all your stuff away…unless you are a hypocrite and cant live without those things too? Or you must make $499,999, and screw everyone that makes more and force them to give it away (but don’t touch my income!).
I am curious what the percentage of middle class income people save and invest vs. spend. We have many more services, multiple TV or internet services, phones, ect. Kids don’t go out and play, we have to put them into “activities” that all cost money. I didn’t grow up with cable tv, internet, eating out, ect. Today’s middle class eats out multiple times a week.
I get that incomes have slowed in comparison to the super wealthy, but there are certainly things that the middle class has done that hasn’t helped. We have no education in schools when it comes to budgeting, saving, investing, and smart use of money.
https://fred.stlouisfed.org/series/PSAVERT
Image if the savings rate was still +10 percent since the 80s to today. The middle class would still be well ahead of the 1 percenters.
Just food for thought, it is all about income and taxes and there is just as much blame in the middle class as there is in the 1 percenters.
The first thing to change is stopping SS at $160K. Why should a person making $50K pay 6.2% on 100% of their annual paycheck, but someone making $250K only gets taxed on 64% of theirs?
On paper, because the payout is also capped. Billionaires don’t get any larger a payout than those making $160K. And SS is supposed to be an annuity where you get out commensurate with what you put in. Not a subsidy program.
I’m not disagring with the idea. Just pointing out that it’s not as regressive as you suggest without bringing up the payout side.
Assuming people live an average life time, the people who pay in the least also get much more back than they actually paid in over their lifetimes. if you made 75,000 yearly, you don’t even get back what you paid in. And if you paid in the max amount you would pay in 610,000 and only receive 470,000 over a lifetime.
Wrong assumption: people lower on the socio-economic scale live less long that those higher.
Relative wealth, relative political power, even relative health all accrete over generations. You can slow it to a degree (and I vote accordingly) but you can’t stop it. The only things that cause societies to (temporarily) escape the gravity of rising inequality are things you don’t want to happen: cataclysmic wars, pandemics, economic implosions and revolutions.
That is my depressing and dispiriting conclusion. We’ve had a long, multi-generational run of relative stability - this is the result and it’s better than the alternative.
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.
Before the Reagan tax cuts, the highest income tax rate in this country was over 90% on everything over a certain amount, and this country was flush.
The rich were rich, the country was building interstate highways, airports, bridges and flying to the moon. And we were building a solid middle class.
The rich people didn’t like this so the had their Republican friends cut the tax rates for the richest people and they started borrowing to run the government
The rich are richer, the middle class is practically dead, and we are now a debtor nation
And we have Fox News to keep too many of us voting against our own interests!
You nailed it!
Maybe in the 50s and 60s but I remember the seventies. Lineups for gas. High inflation with low growth. People were discouraged during the Early to mid 70s. It looked like the Soviet Union was winning. There was one of the largest transfers of wealth ever from The West to Middle East oil producing countries. Much of that money found its way back because the Middle Eastern Countries had no banking system to speak of. But it found its way back into the hands of bankers not the middle class.
Yes. Start with the taxation system. It needs massive simplification. Rates don’t need to increase one just needs to collect from those who are doing very well. You could take more than 50 percent from earners over 500K on income but you mainly would be taking from high earning professionals and the entrepreneurial class.
A doctor friend of mine figured out how much the government was taking. This was 25 years ago in Canada. After he made 150 K the government took 52 percent of income. When he turned around to spend the remaining 48 percent he was charged 15 percent sales tax. He worked in emerg and made about 120 an hour. So he cut back to three 8-10 hours shifts a week. It just contributed to wait times in the local emergency room getting longer.
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.
I don’t understand the economics of baseball. I don’t think the average person is paying 300 dollars to see the Dodgers play. Regular people are not supporting baseball directly. Baseball doesn’t seem to be the thing a lot of people watch on TV.
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.
So you never go to your kids performances and cheer… What a shitty parent.
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.
Oh good god, here we go with what is rich.
No one thinks they are rich cause they always look up.
I am very rich, inherited nothing, never made a household income over $130,000 had 3 kids and put them through college, retired at 56 with enough money to last me till 94.
I can very easily make a claim anyone making a household income over $500k is rich.
Not uber rich, not disgustingly rich, but I have never had to worry about where a meal is coming from, or where I am staying that night. Never had to worry if my car was going to get me somewhere. Knew if I got in any kind of a situation, there was more than enough money to get me out. Never worried about going to the Dr. or ER if someone needed it, never worried about how I was going to get medicine and yeah, I’ll say thats a pretty good definition of rich.