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Thread: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

  1. #21
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    That’s really the game, right?

    Convince the populace that ‘capitalism’ is ‘socialism’ for the rich?

  2. #22
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Quote Originally Posted by dxmnkd316 View Post
    That’s really the game, right?

    Convince the populace that ‘capitalism’ is ‘socialism’ for the rich?
    No. Capitalism has proven to be the greatest system in the world when it has a government that cares about it's people enough to put the proper guardrails on it. When capitalism is allowed to run pure it is the most destructive force in the world. Laying waste to the planet.
    **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

    Originally Posted by dropthatpuck-Scooby's a lost cause.
    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

  3. #23
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Never confuse capitalism with the free market. The free market, when regulated, is efficient and liberating. Capitalism, whether regulated or not, is merely the modern fashion of slaves (workers) and slave masters (owners).
    Last edited by Kepler; 01-25-2020 at 11:05 AM.
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    *raises eyebrow*

    “Demolish the bridges behind you… then there is no choice but to build again.”

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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Boeing downplayed mission critical software update sent to Starliner capsule hours before landing it.
    Starliner's December test flight had to be cut short due to a well-publicized timing error that delayed the spacecraft's service module from performing an orbital insertion burn. This caused the thrusters on board the service module, which provides power to Starliner during most of its mission, to fire longer than expected. As a result, the spacecraft did not have enough fuel to complete a rendezvous with the International Space Station, a key component of the test flight in advance of crewed missions.

    At Thursday's meeting, Hill revealed the second issue related to software and thruster performance publicly for the first time.

    However, as part of reporting on a story about Starliner software and thruster issues three weeks ago, a source told Ars about this particular problem. According to the source, Boeing patched a software code error just two hours before the vehicle reentered Earth's atmosphere. Had the error not been caught, the source said, proper thrusters would not open during the reentry process, and the vehicle would have been lost.

    In a response to a query about this in mid-January, a Boeing spokesperson confirmed to Ars that software uploads were sent to Starliner "near the end of the mission." However, the spokesperson then downplayed the gravity of the situation, saying, "The final upload before landing's main purpose was to ensure a proper disposal burn of the Service Module after separation and had nothing to do with Crew Module reentry." Because this made the issue sound not serious, Ars omitted it from the published story.
    How the fu** is Boeing stock not negative at this point?

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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    The ingenuity of the market.
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  7. #27
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    Quote Originally Posted by Kepler View Post
    The ingenuity of the market.
    See a need, fill a need.

  8. #28
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Pretty sure this is not new but idgaf:


  9. #29
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    It's definitely not new, but it's still entirely accurate several months after it became a meme.

  10. #30
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    * Moved from the Heineken Virus thread. *

    Take 33 through 66 on this chart for middle class American wealth:



    Quote Originally Posted by The Rube View Post
    The way I'm seeing that, is that it takes money to make more money, and of course that is proportionate to the money one has to begin with.

    If I have a million bucks, of course I should be able to parlay that into much more money than someone who has $100K, in general/relatively/etc. Even going by percentages in those different totals in that graph, the amount of money/growth will compound.
    No, it isn't only that. The rate of growth also increased as you go up the scale. Look at the 50% mark and the 99% mark:

    Code:
      Yr    50%     99%   Ratio
    1963    41   1,457    35.54
    1983    83   3,323    40.03
    2016    97  10,400   107.21
    Let's specifically take the period since 1983, the Reaganomics Era:

    50% wealth increase = (97-83)/83 = 17%
    99% wealth increase = (10,400-3,323)/3,323 = 213%

    That is what Republican and Democratic Neoliberal economic policies do.

    Let's compare to the period 1963 - 1983, the Great Society Era:

    50% wealth increase = (83-41)/41 = 102%
    99% wealth increase = (3,323-1,457)/1,457 = 128%

    That is what an aggressive graduated income tax does.

    The low marginal tax rates increased the 99%'s ROI by 85% -- the exact amount that the 50%'s ROI decreased. It robbed from the middle class and gave to the rich.

    That is the greatest redistribution of wealth between the classes in world history. It destroyed the American middle class and is now destroying democracy.
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  11. #31
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Saying "this" to there being a middle class is bs. I'm considered middle class. So were my parents. I have a white collar job. They had blue collar jobs. They were much better off overall than I am. Why? Because of over inflation in certain sectors my bank account has been destroyed. Their bank account was never attacked in the ways mine have been attacked.
    **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

    Originally Posted by dropthatpuck-Scooby's a lost cause.
    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

  12. #32
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Japan, the world’s third-largest economy after the U.S. and China contracted at an annualized rate of 6.3% in the October-December quarter, worse than economists’ forecast of a 3.9% contraction. The biggest reason was a sharp drop in private consumption after the national sales tax rose to 10% on Oct. 1 from 8%.
    https://www.wsj.com/articles/japans-...on-11581898410
    The preceding post may contain trigger words and is not safe-space approved. <-- Virtue signaling.

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  13. #33
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Quote Originally Posted by The Sicatoka View Post
    Yes, because sales taxes are very regressive and impact the the people who don't have that kind of money to spend on additional taxes. WHich is why you have a progressive income tax and not insane sales taxes.
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  14. #34
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Also, pardon me if I don't take the WSJ's word for it when it comes to causation. A 10% sales tax is still lower than much of Europe's VAT.

  15. #35
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    Quote Originally Posted by Kepler View Post
    * Moved from the Heineken Virus thread. *

    Take 33 through 66 on this chart for middle class American wealth:





    No, it isn't only that. The rate of growth also increased as you go up the scale. Look at the 50% mark and the 99% mark:

    Code:
      Yr    50%     99%   Ratio
    1963    41   1,457    35.54
    1983    83   3,323    40.03
    2016    97  10,400   107.21
    Let's specifically take the period since 1983, the Reaganomics Era:

    50% wealth increase = (97-83)/83 = 17%
    99% wealth increase = (10,400-3,323)/3,323 = 213%

    That is what Republican and Democratic Neoliberal economic policies do.

    Let's compare to the period 1963 - 1983, the Great Society Era:

    50% wealth increase = (83-41)/41 = 102%
    99% wealth increase = (3,323-1,457)/1,457 = 128%

    That is what an aggressive graduated income tax does.

    The low marginal tax rates increased the 99%'s ROI by 85% -- the exact amount that the 50%'s ROI decreased. It robbed from the middle class and gave to the rich.

    That is the greatest redistribution of wealth between the classes in world history. It destroyed the American middle class and is now destroying democracy.
    Is this saying one in 100 families is worth $10MM? There is no way that can be right.

  16. #36
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    Quote Originally Posted by Drew S. View Post
    Is this saying one in 100 families is worth $10MM? There is no way that can be right.
    Well, it is.

  17. #37
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    Quote Originally Posted by Drew S. View Post
    Is this saying one in 100 families is worth $10MM? There is no way that can be right.
    1/100 = 1%

    (drew's heard that thrown about, no? 1%'ers )

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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Quote Originally Posted by mookie1995 View Post
    1/100 = 1%

    (drew's heard that thrown about, no? 1%'ers )
    I suspect Drew has heard that before.

    I also suspect Drew never had a clue what it meant. Just some fancy phrase "the liberals" liked to throw around.
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    Quote Originally Posted by rufus View Post
    I suspect Drew has heard that before.

    I also suspect Drew never had a clue what it meant. Just some fancy phrase "the liberals" liked to throw around.
    Does the number make sense to you? I could see somewhere around $5MM being a reasonable number.

  20. #40
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    Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

    Quote Originally Posted by Drew S. View Post
    Is this saying one in 100 families is worth $10MM? There is no way that can be right.
    If it's the median of the entire top 1% then it seems low to me.

    If you trust this source (2016 Federal Reserve Survey of Consumer Finances):

    Code:
    $M Percentile
    10 98.5
    20 99.5
    43 99.9
    Last edited by Kepler; 02-24-2020 at 12:08 PM.
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