6 ms·

All you're going to do with that is to piss off the upper middle class, not the people who actually got fat on the backs of the poor and who are so far ahead of

All you're going to do with that is to piss off the upper middle class, not the people who actually got fat on the backs of the poor and who are so far ahead of the situation that you're never getting that money back. It's gone. The only equalizer left is massive inflation, which may happen for other reasons.

jadedhacker 8y ago
Don't despair comrade, the revolution is coming (we must hope). Trump and Sanders both showed that the citizenry are restless and are ready to demand (some kind of) change.
- scarface74 8y ago
  Yes and when they demand change and start "taxing the rich". You're going to find that a lot of doctors, lawyers, and people in IT who are making low six figures are going to be classified as "the rich".
  - aninhumer 8y ago
    Yes of course? If you're trying to suggest that higher income socialists won't like it if they're the ones being taxed, then I don't think you understand socialists.
    - scarface74 8y ago
      On the other hand, I had to remind my libertarian friends who didn't want "government controlled healthcare" because it would increase taxes that we were already paying $12000 a year for family insurance - well it didn't all come out of our check but that was our contribution plus the company's contribution.
  - maxsilver 8y ago
    > "According to statistical data from the Internal Revenue Service (IRS), the top 1% had an adjusted gross income of $465,626 or higher for the 2014 tax year." "Doctors, lawyers, and IT people making low six figures" have absolutely nothing to fear. And for the extremely few fortunate people who actually make more than half a million dollars each year, they will easily be able to afford the new taxes.
    - scarface74 8y ago
      You really think the "populists" who want to "tax the rich" are going to stop At the 1%? It's not the 1% they despise - as evidence by the election - it's "the liberal west coast elites". The other 80% with households making less than $116K year would just as likely start taxing everyone who makes more than that. Have you noticed that most tax deductions that are designed to help the middle class phase out in the $120 - $160K?
      - deleted 8y ago
        [deleted]
      - toofy 8y ago
        > You really think the "populists" who want to "tax the rich" are going to stop At the 1%? Yep. Most people are perfectly capable of distinguishing between a middle class 2 bedroom house and someone who owns 15 vacation homes, a private jet, and private islands. The real question is whether or not middle class people will punch down and behave as if no one can distinguish between a multi billionaire and and a normal middle class person or whether the middle class will refuse to let the billionaires put all of the stress on the middle class.
        scarface74 8y ago
        Someone living in a trailer park in thier mid 40s will see my 5 bedroom house in the burbs - something any developer with 8+ years experience can afford in my market - just as out of reach as what the millionaire can afford. They will just as willingly vote for a politician to raise my taxes as they would the billionaire. How many people making the median household income of $60K a year will object to a politician saying tax everyone extra making a household income of $116K- the top 20% of household income?
        deleted 8y ago
        [deleted]
    - nightski 8y ago
      I'm currently below that threshold. But I could choose to expand my business, maybe hire a few people and create some jobs and productive economic output. But if you are going to tax me heavily for that then no, I'll probably just stick to what I am doing and not bother.
  - UncleMeat 8y ago
    So? I'm down to pay more taxes.
aninhumer 8y ago
Inflation doesn't make much difference to inequality, because the wealth of the rich is primarily assets not cash.
- kamaal 8y ago
  This is so true. If anything inflation only makes matters worse for people who weren't careful enough to save and invest in assets(like land) early on in their life.
- eli_gottlieb 8y ago
  Insofar as those assets are actually debt instruments, they become worthless under high inflation.

jadedhacker 8y ago

Don't despair comrade, the revolution is coming (we must hope). Trump and Sanders both showed that the citizenry are restless and are ready to demand (some kind of) change.

scarface74 8y ago
Yes and when they demand change and start "taxing the rich". You're going to find that a lot of doctors, lawyers, and people in IT who are making low six figures are going to be classified as "the rich".
- aninhumer 8y ago
  Yes of course? If you're trying to suggest that higher income socialists won't like it if they're the ones being taxed, then I don't think you understand socialists.
  - scarface74 8y ago
    On the other hand, I had to remind my libertarian friends who didn't want "government controlled healthcare" because it would increase taxes that we were already paying $12000 a year for family insurance - well it didn't all come out of our check but that was our contribution plus the company's contribution.
- maxsilver 8y ago
  > "According to statistical data from the Internal Revenue Service (IRS), the top 1% had an adjusted gross income of $465,626 or higher for the 2014 tax year." "Doctors, lawyers, and IT people making low six figures" have absolutely nothing to fear. And for the extremely few fortunate people who actually make more than half a million dollars each year, they will easily be able to afford the new taxes.
  - scarface74 8y ago
    You really think the "populists" who want to "tax the rich" are going to stop At the 1%? It's not the 1% they despise - as evidence by the election - it's "the liberal west coast elites". The other 80% with households making less than $116K year would just as likely start taxing everyone who makes more than that. Have you noticed that most tax deductions that are designed to help the middle class phase out in the $120 - $160K?
    - deleted 8y ago
      [deleted]
    - toofy 8y ago
      > You really think the "populists" who want to "tax the rich" are going to stop At the 1%? Yep. Most people are perfectly capable of distinguishing between a middle class 2 bedroom house and someone who owns 15 vacation homes, a private jet, and private islands. The real question is whether or not middle class people will punch down and behave as if no one can distinguish between a multi billionaire and and a normal middle class person or whether the middle class will refuse to let the billionaires put all of the stress on the middle class.
      - scarface74 8y ago
        Someone living in a trailer park in thier mid 40s will see my 5 bedroom house in the burbs - something any developer with 8+ years experience can afford in my market - just as out of reach as what the millionaire can afford. They will just as willingly vote for a politician to raise my taxes as they would the billionaire. How many people making the median household income of $60K a year will object to a politician saying tax everyone extra making a household income of $116K- the top 20% of household income?
      - deleted 8y ago
        [deleted]
  - nightski 8y ago
    I'm currently below that threshold. But I could choose to expand my business, maybe hire a few people and create some jobs and productive economic output. But if you are going to tax me heavily for that then no, I'll probably just stick to what I am doing and not bother.
- UncleMeat 8y ago
  So? I'm down to pay more taxes.

aninhumer 8y ago

Inflation doesn't make much difference to inequality, because the wealth of the rich is primarily assets not cash.

kamaal 8y ago
This is so true. If anything inflation only makes matters worse for people who weren't careful enough to save and invest in assets(like land) early on in their life.
eli_gottlieb 8y ago
Insofar as those assets are actually debt instruments, they become worthless under high inflation.