A 70% tax for those making over 14 million dollars in income? I'm totally fine with that road. We've been down it in this country before.
Also, how much do you think it is going to cost to systematically retreat from South Florida and the coasts over the next 5 to 10 decades? You can balk at the GND, you can't call it insane, but you are going to live to see that kind of major change either way. The GND attempts to plan for it. The alternative is to not plan-- not for things to "stay the same." That isn't reality. Watch.
I don’t really have time for this argument right now but taking 70% on rich people wasn’t actually happening when that was the top rate.
I absolutely can call it insane, because it is. We do need some sort of Green New Deal. But what was in what they put out looked like the random thoughts of an 8th grader. That doesn’t help anyone or further a productive dialogue.
If a higher marginal rate were returned would we not see a whole lot more LLCs with dividend distributions? I doubt they’d ever be allowed to touch the dividends rates by the powers that be.
70% isn’t feasible. It just isn’t. If implemented, like your example, the way things are structured to avoid it will just change, or a shadow financial system will be created.
The problem is that we have a substantial chunk of the population buying into AOC and Bernie bullshit. I’m confident I’m closer to your side than you probably think. We do have systemic problems. And I get it, the right doesn’t have better answers right now, but if you force me to pick the status quo or the crazy ass stuff AOC is tossing out, I’ll take the status quo.
The fact that Fox & Friends decided to have a segment where they covered AOC's distribution of money to her staffers, calling it "communist and socialist" for her to pay her low level staffers more money and her Chief of Staff less would be great schadenfreude, if I was into that sort of thing in politics. The amount of concern over a twenty something representative with little power within the House has been amazing to watch.
Paying a decent wage, by lowering top level salaries & raising lower level ones sure is communism.... The business world would be much better off if they followed this "communist" example, imo, so would the overall economy. We've totally forgotten past lessons of economic disasters as it relates to greatly concentrated wealth.* *I know it will be said, so let me address the howlings of taking from the rich & giving to the poor before they start. That is in no way what I'm talking about. I'm not advocating taking anything from anyone. I'm saying we all would be better served if 1% of the population in the US didn't control more wealth than the other 90%. One way to achieve this would be to address pay scales. Workers who are as productive today than at any other time should reap pay benefits in a healthy free market. The result would be a more healthy, robust middle class, not a utopian communist single class. The rich will still be rich. I've got no problem whatsoever with that. Entrepreneurs should benefit from success, but they don't achieve that all by themselves. Those that contribute to the overall success should benefit too. https://www.marketwatch.com/story/w...-right-before-the-great-depression-2018-07-19
I’m not saying you’re right or wrong but if you look at it globally that’s already happen. Most Americans are the one percent if you put it to a global scale. That’s not to say we can’t improve, but we also have it really good here too. Even if there’s still an imbalance here domestically.
I don't see the need for Bezos, Gates, whomever to be punished with a substantially higher tax for their innovation. People willingly made them rich.
I don't dispute that we are better off than the vast majority of the world,. Everything is relative. The US is different from the rest of the world. Keeping with the logic othat we're better off than the continents of Africa, South America, Asia, etc, we also shouldn't have D-1 AA, D2, or D3 college (I refuse to use the new bullshit names) or even 5A, 4A, 3A, 2A, 1A high school football championships because it's all football. We have different classifications and championships because circumstances are different.
People willingly made them rich, but if they're not careful People are going to willingly make them significantly less so
