This article by CHS starts out great, describing the plight of the working class, but then comes the Galloway tax measures. Good grief! The Income Tax should be abolished, and so should the Death Tax. Those are wealth taxes that don't respect our private property (which includes the fruits of our labor).
End the warfare/welfare government spending. That is the problem. Socialism and crony capitalism (military-industrial-intelligence-Congress complex) are the problem.
But that would take grown-ups who want to work. Socialists don't want to work, and neither do the billionaires. Peons work.
5. OK, cup your hands and I'll pour liquid iron into them. In other words, I'm going to brace myself and reprint Galloway's last reform, means-testing Social Security payments as the common-sense way to avoid slashing the payments to all beneficiaries when the bogus "trust fund" (another FantasyLand invention) runs dry in a few years.
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One of drivers for social security in many countries was to get old people out of the workforce
Why?
Because of high youth unemployment
And who provides the foot soldiers for revolutions?
Well, the first thing that the "grown ups" would point out(if not cloaked in delusion/illusion), is that taxation is theft. The "wealthy" don't owe their "fair share" to the War Lords. Estate taxes are just another form of theft, and also the means to keep people from passing on what they have gained to their heirs. In other words, it keeps competition down among the "wealthy"(by the way "wealthy" is anyone who has more than I do, or has more than I think they should have...). As for taxing corporations, that just gets passed along to their customers.
The idiotic idea that corporations are people, is just one aspect of the current merger between state power and corporations. In the old days that was called fascism... But that doesn't play well with wall street and main street, so its a "mixed market" system...(rolls eyes)
As for the ponzi scheme that is social security, given that generations of politicians have plundered that "fund" and made all of those promises to tens of millions who now rely on that program for their life (and are the single most feared voting bloc in the country) I'd say lots of luck... Given the demographics, this is going to get way beyond ugly, in just a few short years.
Lets not even speak of the five sided citadel stuffed with perfumed princes. A real effective defense of the country could be had with perhaps 1/10 of the current budget. But that would break so many iron rice bowls, that it would be heard over the horizon. The Chinese have a phrase for this; "May you live in interesting times, and come to the attention of important people"
Millennials are a huge generation, like the Boomers. I can see them getting behind means testing for Social Security. I wish the US had never started Social Security, but now that we have it, I think it would be better to means test the payments of wealthy Boomers than gave Gen X (I am in this group) get only 70-80% of what we paid in across the board. I have never heard a legitimate argument from Boomers about why their entire general cohort should receive 100%+ of what they paid in while successive generations get some much-reduced percentage while already being much worse off financially. It's just the usual "I want my money; I paid in!" Very self-centered as a generation. I hope the Millennials behind me are a little l less so.
Giving any government more money is a stupid idea! Spending is the crack cocaine of the establishment and we have an entire bureaucratic machine to send to rehab/dismantle. War is expensive, giving disability for mental anguish, paralysis by analysis, see the CA Bullet train), approving monopolies, and the coup de grace, is keeping everything secret by claiming its National Security when in reality its deception to hide incompetence or criminal behavior. Tax reform is the last thing we need it just gives them more ideas to screw us with loop holes for their puppet masters.
So if you somehow make something of yourself and have a decent income and lifestyle. Your solution to the government debt is to tax these successful folks more to pay for government spending that is uncontrolled, wasteful and politically motivated. Moreover, to strip them of their social security benefits and their children's right to inherit what they earned with their own efforts. What a fair and well thought out proposal.
I never hear Boomers propose that all generations, including theirs, take a cut, like everybody gets 80-90%, for example. It's always, no, that is all my money, the rest of you take cuts after we are dead.
That is not my philosophy. What I am saying is that Boomers should not get 100+% what they paid in across the board while subsequent generations get 70-80% or less of what they should get. I would prefer the wealthy Boomer get 90% of what they paid in so the poor young janitor can get 90% of what they pay in too.
4. Since corporations are "citizens," then tax them like "citizens." Yes, I know all the arguments that corporate taxes are "double taxes" because shareholders pay tax on dividends, and maybe there's a common-sense way to deal with this, such as deducting dividends paid to shareholders. And I've often said here that I favor a low corporate flat tax rather than the convoluted unfair mess we have now.
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Love that one
Making common stock illegal would fix a lot of wealth and income inequality
If you want to address the inequality, then one has to deal with what is inflating asset prices. Look at the real engine of inflation. The Fed and its cartel of fractional reserve banks. If you track the wage asset divergence it tracks back to the actions in terms of inflation and interest rates.
This article by CHS starts out great, describing the plight of the working class, but then comes the Galloway tax measures. Good grief! The Income Tax should be abolished, and so should the Death Tax. Those are wealth taxes that don't respect our private property (which includes the fruits of our labor).
End the warfare/welfare government spending. That is the problem. Socialism and crony capitalism (military-industrial-intelligence-Congress complex) are the problem.
But that would take grown-ups who want to work. Socialists don't want to work, and neither do the billionaires. Peons work.
It's all blowing up anyway.
Great points Timmy Taes
Thanks, David.
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5. OK, cup your hands and I'll pour liquid iron into them. In other words, I'm going to brace myself and reprint Galloway's last reform, means-testing Social Security payments as the common-sense way to avoid slashing the payments to all beneficiaries when the bogus "trust fund" (another FantasyLand invention) runs dry in a few years.
Unquote
One of drivers for social security in many countries was to get old people out of the workforce
Why?
Because of high youth unemployment
And who provides the foot soldiers for revolutions?
Unemployed and underemployed young men
See Peter Turchin
Well, the first thing that the "grown ups" would point out(if not cloaked in delusion/illusion), is that taxation is theft. The "wealthy" don't owe their "fair share" to the War Lords. Estate taxes are just another form of theft, and also the means to keep people from passing on what they have gained to their heirs. In other words, it keeps competition down among the "wealthy"(by the way "wealthy" is anyone who has more than I do, or has more than I think they should have...). As for taxing corporations, that just gets passed along to their customers.
The idiotic idea that corporations are people, is just one aspect of the current merger between state power and corporations. In the old days that was called fascism... But that doesn't play well with wall street and main street, so its a "mixed market" system...(rolls eyes)
As for the ponzi scheme that is social security, given that generations of politicians have plundered that "fund" and made all of those promises to tens of millions who now rely on that program for their life (and are the single most feared voting bloc in the country) I'd say lots of luck... Given the demographics, this is going to get way beyond ugly, in just a few short years.
Lets not even speak of the five sided citadel stuffed with perfumed princes. A real effective defense of the country could be had with perhaps 1/10 of the current budget. But that would break so many iron rice bowls, that it would be heard over the horizon. The Chinese have a phrase for this; "May you live in interesting times, and come to the attention of important people"
Millennials are a huge generation, like the Boomers. I can see them getting behind means testing for Social Security. I wish the US had never started Social Security, but now that we have it, I think it would be better to means test the payments of wealthy Boomers than gave Gen X (I am in this group) get only 70-80% of what we paid in across the board. I have never heard a legitimate argument from Boomers about why their entire general cohort should receive 100%+ of what they paid in while successive generations get some much-reduced percentage while already being much worse off financially. It's just the usual "I want my money; I paid in!" Very self-centered as a generation. I hope the Millennials behind me are a little l less so.
Giving any government more money is a stupid idea! Spending is the crack cocaine of the establishment and we have an entire bureaucratic machine to send to rehab/dismantle. War is expensive, giving disability for mental anguish, paralysis by analysis, see the CA Bullet train), approving monopolies, and the coup de grace, is keeping everything secret by claiming its National Security when in reality its deception to hide incompetence or criminal behavior. Tax reform is the last thing we need it just gives them more ideas to screw us with loop holes for their puppet masters.
So if you somehow make something of yourself and have a decent income and lifestyle. Your solution to the government debt is to tax these successful folks more to pay for government spending that is uncontrolled, wasteful and politically motivated. Moreover, to strip them of their social security benefits and their children's right to inherit what they earned with their own efforts. What a fair and well thought out proposal.
I never hear Boomers propose that all generations, including theirs, take a cut, like everybody gets 80-90%, for example. It's always, no, that is all my money, the rest of you take cuts after we are dead.
It always amazes me that the philosophy of people like you is to take what isn't yours to help people who are too lazy to help themselves
That is not my philosophy. What I am saying is that Boomers should not get 100+% what they paid in across the board while subsequent generations get 70-80% or less of what they should get. I would prefer the wealthy Boomer get 90% of what they paid in so the poor young janitor can get 90% of what they pay in too.
It is not fair to strip future generations en masse of 20-30%+ of their benefits
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4. Since corporations are "citizens," then tax them like "citizens." Yes, I know all the arguments that corporate taxes are "double taxes" because shareholders pay tax on dividends, and maybe there's a common-sense way to deal with this, such as deducting dividends paid to shareholders. And I've often said here that I favor a low corporate flat tax rather than the convoluted unfair mess we have now.
Unquote
Love that one
Making common stock illegal would fix a lot of wealth and income inequality
Taxes are in a sense reactionary
If you want to address the inequality, then one has to deal with what is inflating asset prices. Look at the real engine of inflation. The Fed and its cartel of fractional reserve banks. If you track the wage asset divergence it tracks back to the actions in terms of inflation and interest rates.
Yes
Plus we allow the other countries repress their currencies to produce our stuff cheaply
To keep their currency repressed they have to buy USA assets like stocks bonds and real estate
Would be interesting to know how much real estate commercial and residential being bought up by that money directly or indirectly
Since real estate and stocks operate at margin then prices easily driven up