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> This is billionaire propaganda[1] to get the middle class to fight thier class war In my opinion, anything that tries to simplify the interests of billions o

by Aunche 4y ago

> This is billionaire propaganda[1] to get the middle class to fight thier class war In my opinion, anything that tries to simplify the interests of billions of actors is a form of populist propaganda. It allows bad actors to prove that they're on the "people's side" just because they virtue signal against the "evil side" in order to advance their own interests: for example, crypto-scammers complaining about banks or Hitler complaining about rich Jewish bankers. > The tax rate of the ultra-rich are at an all time low Right. The problem is that the taxing the ultra-rich is difficult to do because they have the resources to avoid these taxes, and they don't actually raise that much money. So what happens is that the left always ends up raising taxes on the professional class like California. I personally wouldn't have an issue with this, if were better spent, like in the Nordic countries, but they clearly aren't in the US. > https://www.youtube.com/watch?v=QPKKQnijnsM https://www.youtube.com/watch?v=QPKKQnijnsM This video just shows that most Americans are bad at math. Even if literally everyone made the exact same amount of income, the wealth distribution would look closest to the last one because older people would have more time to accumulate more wealth.

sangnoir 4y ago
> Even if literally everyone made the exact same amount of income, the wealth distribution would look closest to the last one because older people would have more time to accumulate more wealth. There are plenty of other countries with old people. I disagree with what I read as your core argument, which is "It's going to happen anyway, so lets not fight it"
- Aunche 4y ago
  > There are plenty of other countries with old people. And literally all of them have a wealth distribution that looks like that last one. Say you lived in a place where everyone saved $10k a year and worked for 50 years. Then the bottom 10% would have an average of $25k saved, and the top 10% would have $475k saved. If you add a modest 3% rate of return on investment, that brings the top 10% to ~$1 million. Visually this looks closest to the last wealth distribution. Wow much inequality! Time to eat the rich! > "It's going to happen anyway, so lets not fight it" This is such a disingenuous interpretation of my comment. Telling you not to volunteer to be a footsoldier of a class crusade isn't saying that we should do nothing. If you have a good argument for why should increase the capital gains tax rate, and why the fears of it disincentivizing investment are overblown, I'm all for it.
  - sangnoir 4y ago
    > And literally all of them have a wealth distribution that looks like that last one. Oh, really?! In spite the "high" taxes elsewhere (read Europe)? So why not rescind the billionaire tax-cuts in the US then and beef up the threadbare social safety-nets? Seeing taxes won't impede the "job creators" from accumulating disproportionate wealth.
fallingknife 4y ago
Not buying that the richest 1% would have anywhere close to 40% of the wealth just by age and savings effects. Makes no sense.

by Aunche 4y ago

sangnoir 4y ago

> Even if literally everyone made the exact same amount of income, the wealth distribution would look closest to the last one because older people would have more time to accumulate more wealth. There are plenty of other countries with old people. I disagree with what I read as your core argument, which is "It's going to happen anyway, so lets not fight it"

Aunche 4y ago
> There are plenty of other countries with old people. And literally all of them have a wealth distribution that looks like that last one. Say you lived in a place where everyone saved $10k a year and worked for 50 years. Then the bottom 10% would have an average of $25k saved, and the top 10% would have $475k saved. If you add a modest 3% rate of return on investment, that brings the top 10% to ~$1 million. Visually this looks closest to the last wealth distribution. Wow much inequality! Time to eat the rich! > "It's going to happen anyway, so lets not fight it" This is such a disingenuous interpretation of my comment. Telling you not to volunteer to be a footsoldier of a class crusade isn't saying that we should do nothing. If you have a good argument for why should increase the capital gains tax rate, and why the fears of it disincentivizing investment are overblown, I'm all for it.
- sangnoir 4y ago
  > And literally all of them have a wealth distribution that looks like that last one. Oh, really?! In spite the "high" taxes elsewhere (read Europe)? So why not rescind the billionaire tax-cuts in the US then and beef up the threadbare social safety-nets? Seeing taxes won't impede the "job creators" from accumulating disproportionate wealth.

fallingknife 4y ago

Not buying that the richest 1% would have anywhere close to 40% of the wealth just by age and savings effects. Makes no sense.