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Old 09-29-2020, 07:23 AM   #21  
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The,uh, guy making the $6k came up with the idea, hired the workers, assumed all the risk for production and reaped the benefits. The $2 earners made wages commiserate with the skill required to put lead in a pencil.

Thereís a reason you, the pilot, are paid considerably more than the guy throwing bags in the belly.
That's a fabricated scenario with fabricated numbers that means absolutely nothing. Also, rampers vs pilots has nothing to do with the current tax structure and whereas it may relate distantly to the real wealth inequality issue, it's not a good analogy.

The gist of it is that America succeeds on innovation and being a land of opportunity, which has actually been severely eroded in the past decade or so.

Last edited by Duffman; 09-29-2020 at 07:38 AM.
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Old 09-29-2020, 07:33 AM   #22  
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That's a fabricated scenario with fabricated numbers that means absolutely nothing. Also, rampers vs pilots has nothing to do with the current tax structure and whereas it may relate distantly to the real wealth inequality issue, it's not a good analogy.

The gist of it is that America succeeds on innovation and being a land of opportunity, which has actually been severely eroded in the past decade or so.
It relates pretty specifically with those who acquire skills and assume risks being more highly compensated than those who donít regardless of the fact that one requires and relies on a multitude of the other.

The little guy canít get ahead mantra is beyond tired whether someone made a video about it on YouTube or not.
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Old 09-29-2020, 07:39 AM   #23  
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It relates pretty specifically with those who acquire skills and assume risks being more highly compensated than those who donít regardless of the fact that one requires and relies on a multitude of the other.

The little guy canít get ahead mantra is beyond tired whether someone made a video about it on YouTube or not.

Relating the fabricated scenario to real world taxes:
"Letís says you have an idea that generates 10,000$ and you cannot do it alone. In fact you need 2,000 people for your idea to work. You decide to pay each of those people 2$ for their part while you keep 6,000$"

The workers are getting taxed 50 cents (25%), and the guy who came up with the idea is getting taxed $2,100 (35%). The government gets $3,100.

If the government raised the tax on the guy who came up with the idea to 45%, then he'd pay $2,700 in taxes and his workers would only need to pay 20 cents. 30 cents for them is huge. That's a 15% increase in their take home money. The rich guy is still taking home $3,300 when it apparently only costs $1.80 to live comfortably, in this scenario, so I'd say he's been well compensated. The only difference is now 2,000 other people now have a little more breathing room.

Consider the average HOUSEHOLD income is around $50k. How are you going to pay for your student loans, a mortgage, car, groceries, and insurance for yourself, let alone a family? That's the average American household. Not even factoring in savings, retirement, and any misc expenses. "Average" in America can't afford the basics. Now tell me the top 1% need more tax breaks. At least know when you're getting ripped off.

It's pretty hard to be innovative or start a new business when you can't even afford the basics without going underwater.
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Old 09-29-2020, 10:02 AM   #24  
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I remember in Cuba, Fidel Castro set the wages of a doctor at 2/3 of a street sweeper. The doctor is inside in an air condrioned office. The street sweeper was doing a dirty, sweaty job. Therefore it is fair doctors get paid less. What happened? Cuban doctors fled to the US.

Not understanding Economic 101 leads to your thinking.

An abundance of workers (more people than jobs), low skill set, little financial risk leads to lower pay. A lack of workers, high skill set, big financial risk taking all leads to higher pay. It is as true for the small store owner as it is for Bill Gates. Bill Gates became a billionaire. His business allowed many of his employees to become millionaires. Many of them would not have become millionaires if the had not gone to work for him, someone like him, or took risks themselves in starting businesses.
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Old 09-29-2020, 10:36 AM   #25  
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Relating the fabricated scenario to real world taxes:
"Letís says you have an idea that generates 10,000$ and you cannot do it alone. In fact you need 2,000 people for your idea to work. You decide to pay each of those people 2$ for their part while you keep 6,000$"

The workers are getting taxed 50 cents (25%), and the guy who came up with the idea is getting taxed $2,100 (35%). The government gets $3,100.

If the government raised the tax on the guy who came up with the idea to 45%, then he'd pay $2,700 in taxes and his workers would only need to pay 20 cents. 30 cents for them is huge. That's a 15% increase in their take home money. The rich guy is still taking home $3,300 when it apparently only costs $1.80 to live comfortably, in this scenario, so I'd say he's been well compensated. The only difference is now 2,000 other people now have a little more breathing room.

Consider the average HOUSEHOLD income is around $50k. How are you going to pay for your student loans, a mortgage, car, groceries, and insurance for yourself, let alone a family? That's the average American household. Not even factoring in savings, retirement, and any misc expenses. "Average" in America can't afford the basics. Now tell me the top 1% need more tax breaks. At least know when you're getting ripped off.

It's pretty hard to be innovative or start a new business when you can't even afford the basics without going underwater.
Thats all fantastic until you realize thereís a point where the idea guys isnít going to assume the risks because his ROI isnít worth the hassle. You essentially halved his potential profit so that his unskilled workers could take more money home. Well, they get to take nothing home when he decides not to pursue his idea and doesnít hire them. Itís not a magical zero sum game.

As for the little guy canít get ahead on $50k if he has student loans, car and house payments and so on and so forth....youíre right. You donít get to have it all at once on that kind of income. But plenty of Americans will try it anyway. Financial literacy is a real thing as is delaying wants over needs. Getting ahead doesnít occur by happenstance.
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Old 09-29-2020, 03:12 PM   #26  
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... Except for all the wealth that gets ferried off-shore to avoid taxes
Which is why taxes should be virtually non-existent.

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giving money to poor people
And this money you want to give to "poor people" ... where does it come from?
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Old 09-30-2020, 05:07 AM   #27  
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That is typical late in an economic cycle. Look at the situation right now, the rich have been made whole while the bottom third are experiencing unemloyment at historic levels. Trickle was the key word in "Trickle Down Economics"!

Is not this cycle artificially high levels of unemployment due to Covid? Is not a trickle better than a drought?
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Old 10-02-2020, 01:36 PM   #28  
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Which is why taxes should be virtually non-existent.

And this money you want to give to "poor people" ... where does it come from?
It really boils down to workers share of capital. When workers get too much, it looks like western civilization in 1978. When workers get too little, it looks like 2020. I would much rather have been in my prime working years in 1978. Remember when it was normal to get into a major in your 20s? And a senior captain could go new car shopping on a bi-weekly basis?
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