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POTUS 45.22 - The Genius of Donald Trump

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Re: POTUS 45.22 - The Genius of Donald Trump

Trickle down doesn't work.
The Soviet model flamed out horribly.
The Scandinavian model is going broke as we speak.

So, what is it?

If it's "soak the rich", remember, one day they'll dry up too.
 
Re: POTUS 45.22 - The Genius of Donald Trump

Kepler said:
We had capitalism and 90% top marginal rates ...
Click to expand...

Great rhetoric, but how many people actually paid those top marginal rates?

They were numbers on a tax table that made some feel warm and fuzzy.

It's the game:
"We're lowering the property tax rate on your house by 33%! ... but doubling the appraised value."
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
Trickle down doesn't work.
The Soviet model flamed out horribly.
The Scandinavian model is going broke as we speak.

So, what is it?

If it's "soak the rich", remember, one day they'll dry up too.
Click to expand...

Yeah, those are the only choices. :rolleyes:

This is the same debate as Health Care. Years ago America could do anything it set it's mind to do. Now, it can't do anything. Everything is unsolvable. The only solutions that exist have all been tried before so let's do Kansas.

**** this planet.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
Trickle down doesn't work.
The Soviet model flamed out horribly.
The Scandinavian model is going broke as we speak.

So, what is it?

If it's "soak the rich", remember, one day they'll dry up too.
Click to expand...

Leveling works. It worked here. It will always be a lot of fun to be rich, no worries. And it will always suck to be on the bottom, so you can feel happily vengeful, too. Just make it a little less fun at the bottom so we can make it a little less miserable on the bottom.

The larger and healthier the middle, the more the tide rises for everyone.
 
Re: POTUS 45.22 - The Genius of Donald Trump

ScoobyDoo said:
**** this planet.
Click to expand...

No, not **** this planet. **** the people who say those are the only choices. They're either brainwashed or dishonest.

You always want to quit. Don't quit, stand your ground and push back hard with facts, and don't give up, and try to get as many people to help us as possible, and expose the bullsh-t the other side peddles.

Hell. It's fun.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
Great rhetoric, but how many people actually paid those top marginal rates?

They were numbers on a tax table that made some feel warm and fuzzy.
Click to expand...

A lot of people paid 60% or 50%, or shunted that income into public sector investments for tax savings, which accomplished the same aim as collecting the revenue.

But a bunch of unhappy rich people butthurt at FDR paid a hack writer a bunch of money to write tedious screeds about the Capitalist Ubermensch and mixed in enough coercive sex and elitist rhetoric that fifty years of insecure nerdy teenage boys fell in love with themselves and the power of the Lone Heinleinian Rebel, so now we all live in a failed libertarian theme park.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
What economic system works in your mind.
Click to expand...

Free market mitigated by progressive redistribution, regulation, and consumer and public interest protection, all mediated through democratic, transparent processes.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
Then why do Scandinavian country households have 2x or more household debt (normalized to household income) than the US? They're borrowing at the micro level to maintain their standard of living. Why do they have to borrow? Well, what do they pay in taxes ...

That's not a sustainable system (see: US circa 2008).
Click to expand...

I think you may have been reading a little too much Pete Peterson. :)

This actually seems to make good sense to me.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
You see the oxymoron, yes?
Click to expand...

Logical fallacy but I can't remember the name. Free speech doesn't mean absolutely no limits on speech. Free market doesn't mean absolutely no limits on the market.
 
Re: POTUS 45.22 - The Genius of Donald Trump

This is exactly the Bull**** that I'm talking about.

The tax-overhaul plan unveiled on Thursday by House Republicans would leave intact a loophole that benefits hedge funds, private-equity funds and other investment managers, despite President Trump’s campaign promises to eliminate it.

The proposal collapses several individual income tax brackets, slashes the corporate tax rate, targets income held overseas by companies and caps a popular deduction for mortgage interest. But while it eliminates many deductions and loopholes, the plan preserves the so-called carried-interest provision — a section of the tax code that is beloved by, and hugely valuable to, private-equity and other Wall Street investors.

A substantial portion of the compensation of hedge-fund and private-equity executives is derived from the investment gains that their funds generate. Under the current tax code, that compensation is treated as capital gains, meaning it is taxed at a rate of 23.8 percent, well below the 39.6 percent income-tax rate that now applies to the top tier of individual earners.
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https://www.nytimes.com/2017/11/03/...t-tax-loophole.html?smid=fb-nytimes&smtyp=cur

Labor gets ****ed again.
 
The Sicatoka said:
The millionth dollar alone buys a can of Coke.
The five hundredth alone buys the same can of Coke.

The difference?
The millionth with it's 999,999 friends puts up the new factory building.
Hand the millionth to the Feds, does that factory get built?
Click to expand...

Again, Adam Smith understood the need for progressive taxation 300 years ago. This isn't exactly a new or unproven concept.
 
Re: POTUS 45.22 - The Genius of Donald Trump

The Sicatoka said:
Are those tables translated anywhere into today's dollars?
What are the cutoffs for those rates (in today's dollars)?
Click to expand...

Good question, pretty easy to figure out.

Well, maybe not, because I wouldn't just translate say 1955 dollar to 2017 dollar. I'd translate where people were in the rank order of income. So, for example, if in 1955 the guy in the 98th percentile was paying 50%, then in 2017 the guy in the 98th percentile should be paying 50%.

Subtle difference but could be very important.
 
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