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Indeed, and how much of the income did they make? Keep in mind when a company "succeeds", they're succeeding on top of trillions of dollars of infrastructure -

by dkural 8y ago

Indeed, and how much of the income did they make? Keep in mind when a company "succeeds", they're succeeding on top of trillions of dollars of infrastructure - human capital (enabled by education! try hiring the same talent in an underdeveloped country), the transportation, subsidized energy production & grid, and municipal infrastructure underpinning movement of physical goods & digital goods; and finally the public order that assures safety of people, and the enforceability of contracts.

bluedevil2k 8y ago
This is the Elizabeth Warren argument. It fails to point out that those trillions of dollars of infrastructure was paid for already with taxes (which the top 10% mostly account for). So when she spouts the “they’re only successful because of the roads, the schools, blah blah” you can rephrase that as “they’re only successful because of the taxes they’ve already paid into the system”.
- anonymous5133 8y ago
  good point, never thought of it that way
- dkural 8y ago
  A lot of it is property taxes, payroll taxes, local taxes etc. and in any event, paid by a different generation. If we're willing to go further back, let's also not forget that a lot of this was achieved by slave labor & after emancipation, an entire people denied basic civil rights. In any event, it was not as if Bill Gates paid for the Hoover Dam. Keep in mind some of the tools for creating capital and income was not available to large swathes of society - like access to subsidized higher education, homesteads / farmsteads, and mortgages. These are federal means to build capital which sets the stage for earning higher incomes.
  - bluedevil2k 8y ago
    >> let's also not forget that a lot of this was achieved by slave labor C’mon, you know this isn’t accurate at all, “a lot” is just an over the top false statement.
- raydev 8y ago
  "... and continue to pay into the system" Infrastructure isn't a one time cost.

by dkural 8y ago

bluedevil2k 8y ago

This is the Elizabeth Warren argument. It fails to point out that those trillions of dollars of infrastructure was paid for already with taxes (which the top 10% mostly account for). So when she spouts the “they’re only successful because of the roads, the schools, blah blah” you can rephrase that as “they’re only successful because of the taxes they’ve already paid into the system”.

anonymous5133 8y ago
good point, never thought of it that way
dkural 8y ago
A lot of it is property taxes, payroll taxes, local taxes etc. and in any event, paid by a different generation. If we're willing to go further back, let's also not forget that a lot of this was achieved by slave labor & after emancipation, an entire people denied basic civil rights. In any event, it was not as if Bill Gates paid for the Hoover Dam. Keep in mind some of the tools for creating capital and income was not available to large swathes of society - like access to subsidized higher education, homesteads / farmsteads, and mortgages. These are federal means to build capital which sets the stage for earning higher incomes.
- bluedevil2k 8y ago
  >> let's also not forget that a lot of this was achieved by slave labor C’mon, you know this isn’t accurate at all, “a lot” is just an over the top false statement.
raydev 8y ago
"... and continue to pay into the system" Infrastructure isn't a one time cost.