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Old 10-08-2019, 08:53 PM   #7359 (permalink)
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Originally Posted by redpoint5 View Post

1. There isn't evidence that the super wealthy pay a lower tax rate than "any other income group".
I actually don't find it necessary to question the exact values of the data as you have in order to accept the approximate trends which have been well documented elsewhere if you watch the gif as it ascends through time from the 1950's, you see that in order to pay for the ongoing industrial reallocation and expansion from the WWII war effort, The top earners who had done very well for themselves within the capitalist system were compelled to chip in more to pay for the big programs that were needed. With a 70% top tax rate. It was done then and it will be done successfully again now. We need capital to pay for the daunting transition to a rebuildable energy system. And national health care.

Originally Posted by redpoint5 View Post
2. The article doesn't mention how we'll keep the super wealthy once they are taxed their fair share. Perhaps they will stay because they have deep roots in the US, but more likely they will find ways to hide their assets, as many countries don't have a duty to report them back to the US.
We are all stuck here on one planet and must work together to survive the coming energy/ resource challenges. Which means cooperation on uniform regulations to prevent the race to the bottom tax havens for the rich.

Originally Posted by redpoint5 View Post
3. What to do with the newfound "public" money isn't thought out at all. You don't take others money first and figure out why you took it later. Pre-k has shown in multiple studies to have zero long-term benefit, so just listing a political wishlist of things to do with other people's money isn't engaging in critical thinking.
We will barely scrape up enough to cover the massive energy transition and health care let alone food and housing minimums and fair labor wages throughout the world.

Originally Posted by redpoint5 View Post
4. No respectable economists suggests higher corporate taxes because they all know that reduces domestic jobs and the size of the economy, which hurts everyone across all strata of the economic distribution. Throwing this idea in the mix of the other terrible ideas just shows allegiance to a political agenda rather than a demonstration of economic chops, or a thought out solution to a problem.
Again. World cooperation is required to prevent the race to the bottom. And world labor unions to bargain for a fair share of profits since minus tariffs, all laborers are in this together. CEO's currently earn 500 times that of the base employee and 380 times that of the mean average of all employees. This is Global Capitalism run amuck exploiting the labor force and is completely out of hand. The industrialists of the early 1900's got rich on 50:1 ratios. 100:1 would be plenty. $20,000 for the base worker and $2 million for the CEO. With progressive taxation to the tune of 70% above 20 million / year and 90% above 50 million for those that still manage to get that high.
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