Socialists don’t understand economics. If they did, they’d not be socialists.

 

Actually, the socialist LEADERS understand economics VERY WELL. Their entire appeal is based on economics. Not financial economics, but information economics. Public choice economics.

They know that their financial economics are doomed to failure. This is part of their plan. They can not take over a resilient and vibrant country, so they must tear it down first. And for this, they rely upon very, VERY ignorant FOLLOWERS.

Every election cycle, I hear leftists screeching about how "Trump (or Bush or Reagan) will 'ruin the economy'." And every time a Republican is elected, the country does better economically. So why do they believe as they do?

Information economics, one aspect of which is called information voter cost. It literally takes too many resources of time and money for the average voter to inform themselves adequately, so they allow themselves to be passively informed by the TV and internet. CNN puts in a small amount of effort per voter, yet the votes puts in an even smaller effort to edify their own understanding.

Socialist leaders are VERY crafty. And evil. They use the philosophy of the self-fulfilling prophecy to dupe the vulnerable into voting against themselves.

Never believe that socialists don't understand economics. That's only true of 99% of them.

 

"Then what???"

You run out of other people's money.

 

Then the government would own everyone... because there won't be any rich people.

1984

 

I think socialists that live off my tax dollars should offer me a nice meal and a roll in the hay any time I drive by.

#shareyourwealth

 

#hotsocialists

 

The top marginal tax rate in the USA was 70% when Reagan took office. It was stifling the economy. The economy took off after he pushed through new tax rates that were half that amount.

The highest tax rate in the world was in the USA under FDR. The top marginal rate in 1944 during WWII was 94%. Many economists blame high taxes for keeping the USA in the Great Depression for such a long period. FDR used high tax rates to take money from the wealthy so that he could create more government jobs. In other words, FDR took the job creation abilities away from the wealthy so that he could look good to the people who needed work.

Federal Individual Income Tax Rates History

The issue that socialists do not understand about high tax rates is that wealthy people do not put money in the bank, nor do they store large amounts of cash. They do not operate like Scrooge McDuck. The wealthy maintain their wealth by continually investing it, which in turn creates real jobs, not government jobs. If they have $10,000, they are always trying to turn it into $11,000.

I sincerely hope that this current Marxist socialist trend with Dummocrats crashes and burns. However, given the brainwashing that goes on in the Democrat-dominated educational system, that is not likely to happen until the economy crashes and burns, At that point, the Dems will find a way to blame it on Republicans.

 

The only candidate I like is hated more by democrats than republicans and she's a combat veteran. Trump bothers me because I think he would take my guns and my freedoms when that emergency declaration eventually puts too much power in the executive branch. Then he can just jail anyone who opposes him.

 

I think during the civil war there was 90% rate. Smith and Wesson didn't complain they still made more money than they could spent.

Rich people don't pay taxes. They pay a tax attorney $150,000 so they don't pay $1,500,000 in taxes.

Henry Ford got into with the banker's. At one point to drive them out he sold the cars at cost - no profit. You need a spare part - you PAID for it - different division without the banker's.

If you don't control your spending, you can never tax or print enough money to stay afloat.

 

I think during the civil war the there was 90% rate. Smith and Wesson didn't complain they still made more money than they could spent.

Rich people don't pay taxes. They pay a tax attorney $150,000 so they don't pay $1,500,000 in taxes.

I'm not sure where you saw that. The income tax rate in 1862 was 3% on income over $600 and 5% on income over $10,000. Given that the going wage was $1 per day, almost no one made that kind of money except the wealthy.

Federal Individual Income Tax Rates History

Income taxes didn't formally start until 1913. There was no reporting prior to that, so I'm not sure how the government collected income taxes. I suspect only businesses paid income taxes prior to 1913.

The liberal tales about the wealthy paying zero income taxes are complete nonsense. I've worked for several wealthy people and all paid huge tax bills. They pay tax professionals to find ways to legally reduce the amount they have to pay.

Summary of the Latest Federal Income Tax Data, 2017 Update

The top 1% still pay 39% of all federal income taxes.

The top 5% pay 60% of all federal income taxes.

The combined bottom 50% pay 3% of all federal income taxes.

44% of "taxpayers" pay zero federal income taxes.

 

All part of the plan and the Ocasio-Cortez types of the world fall into it religiously, if it means taking it from someone else and giving it to them.

Eventually when the top 1% moves to the top 3% and then top 5% etc, then it will accelerate the true death spiral, they will see they killed the golden goose.

 

Since Trump says that we need a bigger military, that means we need more money through taxation. Rather than taxing the rich, shouldn't we raise taxes on the middle class? Money has to come from somewhere. War isan't cheap and the middle class should pay more than their fair share because big business is what makes this country run!

 

The snowflake children know not what what they ask, Venezuela and several other south american countries do/did the same thing and now look at their economies...

Communists gonna communist and socialists gonna socialist, everywhere communism/socialism has been tried it has failed. when you tax the crap out of people they protect their money, it stifles innovation, good paying jobs become far and few between, the economy becomes stagnant and thus eventually the economy goes down the crapper...

 

When 50% of the people, that we know about, don't pay taxes, how can we as a country prosper? The above figures are real figures BTW.

The rich built this country. The poor worked of course. But the poor Budget Line is drawn to allow the 50% to be paid to do nothing. The numbers are much larger than that I truly believe.

When a "line is drawn" it can always be moved up or down. Wealthy is a matter of prospective. Tell a poor person you have $20,00.00 saved and they think you are wealthy.

Here in NJ we cannot live on that little money. We take money out of savings every year just to pay bills. i.e. house and property taxes; Natural gas; water and electric bills; house and car insurance; vehicle maintenance; gasoline, property up-keep I can no longer do and food bills.


I can hear it now: Just move! When your family is here and we are certainly not young anymore, how do you Just Move?

 

Start with the proponents total wealth for 5 calendar years, based on thier tax returns starting 5 seasons before, averaged. If they have a *foundation* like the Clintons, base it on thier 990 forms for the same period. In the case of those like Ocassional Cortex, substitute thier financiers, her parents. After that, re-visit thier propasition. Lead from the front....then the socialists can fund thier own delusions, first.

 

It was from documentary on the Smith and Wesson story that I saw many years ago. IIRC when Smith wanted to retire he sold his interest in the company to Wesson for a buck. Some people had class/honor back then.

When Westinghouse got over extended and couldn't continue to pay the royalties to Tesla for the patents, Tesla let him off the hook because he didn't want to see all the W's employees suffer.

 

I suspect Smith had already made his fortune and was extremely wealthy, so he didn't need the money. Yeah, that's a class act.

Tesla died a pauper. Although he was probably one of the greatest geniuses of all time, he was not very good when it came to financial issues. And when he died the Office of Alien Property swooped in an confiscated all of Tesla's papers and inventions, even though Tesla was a US citizen.

 

While Robin Hood had good intentions, he was still a thief.

 

I understand that the filthy rich here at SB will be affected adversely by something like this. I mean you guys might have to give up one of your private jets, or maybe even one of your multiple bugout locations on your private islands. I'm guessing if it comes down to it you can cash out a few tons of gold from one of your multiple stashes to pay the tax.

But looking at it from a working stiff position, and understanding that there are less and less "jobs" out there, and that automation, technology and outsourcing are making it harder and harder for the average person to make it, yet these companies are making more money than ever, and many of them are making their money from government contracts anyway, wouldn't it make sense to have them pay more??

What happens when for example truck driving is finally fully automated? There will be hundreds of thousands out of work overnight, and no one is preparing for this eventuality.

If and when this country collapses it will not be due to excessive taxes on the rich, but because the rich were able to hoard all the wealth and resources for themselves.

 

What happens when for example truck driving is finally fully automated? There will be hundreds of thousands out of work overnight, and no one is preparing for this eventuality.

If and when this country collapses it will not be due to excessive taxes on the rich, but because the rich were able to hoard all the wealth and resources for themselves.

Wealthy people, generally, do not 'hoard' wealth. They invest it. Which creates more jobs and growth, and hence, more tax revenue. Going to confiscatory taxes will only force more wealth and investment back out of the country. Giving us more of the same problems we have had.

What the Socialists are really crying for, is more 'free stuff', and it just does not exist. What will most likely cause the collapse of our country will be a currency collapse, due to debt. The politicians have handily disguised the real cost of our 'free stuff' with debt. Somewhere between $25-28T, that debt is most likely to come due. How will YOU pay for it?? With your labor?? With your children's labor?? How will you cope with 12,000% inflation, such as experienced in Venezuela??

Truck drivers replaced with automation?? HaHaHa! :headshake::headshake::headshake:

 

Everyone should pay the same percentage of tax if your going to have a taxation system. Paying higher rates based on wage inceases is wrong. The incentive to make more is your reward.

 

Do you feel the same on Social Security and Medicare?

 

I love this girl !!!
She makes the whole democratic party look like unelectable crack smoking idiots.

 

And yet these unelectable crack head idiots are still being elected. :xeye:

We need to fight back like hell.

 

Rule of law needs to be applied to all equally.

Oh, wait. The federal government could provide a monetary equivalent to jail sentences.

Get convicted for 1st-degree murder and sentenced to life, simply write a check and you are good to go.

I don't need a trillion dollars in the bank to know that 70% income tax is wrong.

The cost to live in America should be equal to all whenever possible. Charge the working man and his family $1000 per year to live in America, even Trump should not pay any more than that.

Sure, a begger on the street that only collects $500 per year could not pay that grand (barring the use of new math).

The government should take 0% of any man or woman's exchange of their life's effort for a wage.

If you want to tax the act of commerce, that is fine, but everyone pays the same rate. Trade more, pay more.

 

If she managed to do this, we would be like Venezuela very shortly

All the rich people would just become citizens of the Bahamas, or Cayman Islands, or wherever

 

. . . no, but turn control of Amtrack over to Amazon and I'm sure it will start to show a profit.

Get the unions out of rail and we will need fewer long-haul drivers. That can be a good thing, more people will have the opportunity to pursue other careers and provide products and services that automation cannot. Products and services that don't exist today. True progress.

. . . maybe even design of the Starship Enterprise.


Or, we can just demand more free stuff.

 

. . . no, but turn control of Amtrack over to Amazon and I'm sure it will start to show a profit.

Get the unions out of rail and we will need fewer long-haul drivers. That can be a good thing, more people will have the opportunity to pursue other careers and provide products and services that automation cannot. Products and services that don't exist today. True progress.

. . . maybe even design of the Starship Enterprise.


Or, we can just demand more free stuff.

A LOT of the long haul truckers took the job because they CAN'T do anything else. It's not like the field is full of future rocket surgeons.

Amtrac will never show a profit as they can't charge the riders enough to cover the operating costs. The only way to make it profitable would be to raise the cost of private vehicle operation to force people onto the trains.

 

I think they should lead by example and the federal government should seize 90% of the total wealth of all democrat lawmakers first.


Let's see how they feel about things after that happens.

 

I think they should lead by example and the federal government should seize 90% of the total wealth of all democrat lawmakers first.

Let's see how they feel about things after that happens.

They could start here:

Nancy Pelosi estimated net worth $100,643,521

 

That girl is an idiot. She wants to equalize wealth because she had to scrub a toilet when she was younger. She's in way over her head which is somewhat surprising as she supposedly has some education.

Seems like she skipped the whole educational process somehow.

The dems/libs are extremely poor at math, and have a dogged determination to forge ahead no matter the evidence to the contrary.
Of course they know deep down, that like all commies in powerful positions, that they will be able to bend and break rules to protect their personal wealth.

Even if it did work in practice (it doesn't); the thing that they are missing, it that there aren't enough "super wealthy" to pay the way for the underperformers.

The next play is to look at businesses as if a business were comprised of one guy at the top of an ivory tower. There might be a few guys at the top making outsized wages, but the whole business is made from the little guys.

Tax the business, and they either pass that on to the consumer or cut employee wages. The net result is nobody is getting the money.

These exercises have been tried for ages, and it always ends up with a stagnant economy as companies outsource, or pull funding out of the country entirely. Very similar to the way that singular wealthy investors would.

 

If you were quite wealthy and the government decided to tax you at a rate of 70% would you pay the money or move somewhere that taxed you half that amount?

Myself I would simply move to a more financially viable place, in fact I have been studying this for the last 12 years or so for full retirement. I have no intention of staying here in the US paying through the nose on taxes and medical costs.

If the wealthy leave in droves who does that leave to pay the higher tax burdens? Bringing in higher tax revenues is not quite as simple as raising the tax rates to the ceiling on the wealthy.

The only way that would work well is if you did not allow people to leave the country and move to other countries and that is unlikely to work well, you would need walls and military on the borders to keep people in, like the Soviet Union era "iron curtain".

 

If you were quite wealthy and the government decided to tax you at a rate of 70% would you pay the money or move somewhere that taxed you half that amount?

Myself I would simply move to a more financially viable place, in fact I have been studying this for the last 12 years or so for full retirement. I have no intention of staying here in the US paying through the nose on taxes and medical costs.

If the wealthy leave in droves who does that leave to pay the higher tax burdens? Bringing in higher tax revenues is not quite as simple as raising the tax rates to the ceiling on the wealthy.

The only way that would work well is if you did not allow people to leave the country and move to other countries and that is unlikely to work well, you would need walls and military on the borders to keep people in, like the Soviet Union era "iron curtain".

This is exactly what has been happening to the high tax rate states like NY, CA, NJ and MA. California lost a quarter million jobs over the last decade or so. A quarter million jobs... they have also had more citizens move out of CA than into it. They only show a net growth due to immigration - legal and illegal.
I guess even CA looks good if you're fleeing communist China... not to mention most of those immigrants end up taking from the state through benefits, handouts, subsidies, etc... welfare. They don't pay taxes either.

New York and New Jersey are suffering the same fate. Companies are moving, people are moving. It's why they're trying exit taxes, and will make you prove that you've actually moved. Count how many days you were where, etc...

The Commie/socialists want to take their rapist policies national so that no one can escape them, that's all you're seeing. Ever notice there aren't people from FL or TX pushing for this crap... it's always some New Englander or Californian. They have run out of their money, so now they need a new source.

 

Good point.

Pass that reasoning on to Nancy. The shutdown could be over by lunchtime on Monday.

 

Didn't they just try this in France?

 

I haven't made enough money to pay taxes since 2009 so...whatever....the left would prefer people like me to just die so its not like any of that money would help me out either way.

Didn't they just try this in France?

No, they just tried increasing taxes on the poor while cutting their benefits at the same time.

that is unlikely to work well, you would need walls and military on the borders to keep people in, like the Soviet Union era "iron curtain".

hmmm....yeah...nobody in our country would ever suggest building a border wall or militarizing the borders would they?

 

I haven't made enough money to pay taxes since 2009 so...whatever....the left would prefer people like me to just die so its not like any of that money would help me out either way.



No, they just tried increasing taxes on the poor while cutting their benefits at the same time.

No....this was about 2-4 years ago, France tried the same thing. It was a 75% tax on the super rich. It failed misserably and tons of them left france. It only lasted a few years and then they quietly turned it off.

https://www.businessinsider.com/france-ended-75-super-tax-2015-1

The more recent thing is what happens when they are basically just running out of 'money' and go after anything and everyone. The rich people left, the working class aren't as mobile so they riot. ( and good for them! )

 

Wages and income are not the same, at least until 1913? When the Feds redefined wages as income so they could be taxed. Previously income was profit from a business or corporation.
In a similar manner, the states redefined the term motor vehicle operator to all drivers. Previously an operator was defined as person being paid to operate a vehicle, such as a taxi/bus driver, or a delivery truck. Not enough control over people and being able to take more of their earnings changes things.

 

“Super wealthy” can move to low tax countries, then what?
Socialist/communist can’t think past yesterday.

 

This is already on a test run right here in the US....Look at the flood of people leaving California due to the high cost of living, the taxes, and well, the politics......
It doesn't work and there is ample proof available. They either know that socialism doesn't work and ignore it. or they're too stupid to really understand the basic math involved. I don't know which......but either is scary.

 

And like cancer, they infect the places they move to. The stupidity of the left knows no bounds