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Wealth inequality is not being caused or exacerbated by Onlyfans and Bitcoin scams or "lack of morality", whatever that means. Corporate and high income taxes

Wealth inequality is not being caused or exacerbated by Onlyfans and Bitcoin scams or "lack of morality", whatever that means. Corporate and high income taxes have been slashed. This has been going on for decades, but the prior president and congress gave the wealthiest Americans and corporations a two trillion dollar tax cut - a forty percent reduction in corporate taxes - and this was after one trillion dollars in Paycheck Protection Program "loans", most of which were 'forgiven' and a myriad of other pandemic programs - as well as a wholesale gutting of regulations. In 1940 if you made $200,000 ($4M today) you were taxed at ninety percent to help out with the war effort because there was a long history of the wealthiest being expected to help out in times of societal emergency. The NY Times claims the Great Recession and COVID were the first exceptions but I'd say it's been going on since Vietnam or so. https://www.nytimes.com/2023/11/19/opinion/rich-billionaires-philanthropy-covid.html https://www.nytimes.com/2023/11/19/opinion/rich-billionaires...

whatindaheck 3y ago
> you were taxed at ninety percent to help out with the war effort because there was a long history of the wealthiest being expected to help out in times of societal emergency. Never heard it phrased this way before but I like it. Those that can help more should help more. In fact, most people take pride when they can (over) contribute. If somebody has a medical emergency on the sidewalk, the doctor walking by would be expected/assumed to help more than Nancy the software engineer. Nobody would call you insane for expecting the doctor help more because they are more capable.
ecommerceguy 3y ago
>>Wealth inequality is not being caused or exacerbated by Onlyfans and Bitcoin scams or "lack of morality", whatever that means. Reread it please. "From Onlyfans to Bitcoins Scams, social media platforms has only exacerbated the issue."
medvezhenok 3y ago
The rich were willing to accept the taxes at the time because of fear of communism (there was a strong communist movement in the U.S., and they had seen the communists expropriate (a.k.a. strip people of) private property in Russia in 1917 & China (after the revolution) at the time. This is also partly why post-war Europe introduced generous social programs - as a way to prevent people from being seduced into communism. There is no equivalent fear today.

whatindaheck 3y ago

> you were taxed at ninety percent to help out with the war effort because there was a long history of the wealthiest being expected to help out in times of societal emergency. Never heard it phrased this way before but I like it. Those that can help more should help more. In fact, most people take pride when they can (over) contribute. If somebody has a medical emergency on the sidewalk, the doctor walking by would be expected/assumed to help more than Nancy the software engineer. Nobody would call you insane for expecting the doctor help more because they are more capable.

ecommerceguy 3y ago

>>Wealth inequality is not being caused or exacerbated by Onlyfans and Bitcoin scams or "lack of morality", whatever that means. Reread it please. "From Onlyfans to Bitcoins Scams, social media platforms has only exacerbated the issue."

medvezhenok 3y ago

The rich were willing to accept the taxes at the time because of fear of communism (there was a strong communist movement in the U.S., and they had seen the communists expropriate (a.k.a. strip people of) private property in Russia in 1917 & China (after the revolution) at the time. This is also partly why post-war Europe introduced generous social programs - as a way to prevent people from being seduced into communism. There is no equivalent fear today.