As America's middle class collapses, no one is buying stuff anymore

So you’re a fan of individual income tax rather than asset or capital taxation? That’s interesting; why do you feel that way? Do you think it’s a good idea to penalize working and encourage hoarding of wealth? Serious questions, I’m interested in your point of view.

I’ve heard it said that the American Dream died because of two things: The legalization of permanent federal income taxes in 1913 by the 16th amendment and the elimination of both free speech and personal responsibility in one stroke by the Fire in a Crowded Theatre decision.

Edit: Link corrected, thank you @LockeCJ!

1 Like

I’ve never understood why money I leave to rot in etrade gets taxed less than the money I earn to use at restaurants and mortgages. Isn’t that bass ackwards?

10 Likes

I’m a registered Republican. I voted against G. W. Bush four times.

I have vastly more impact as a dissenting member of a small, increasingly divided party than I would have as a member of the local Democratic monolith.

Unlike most Americans, I am not motivated by team membership. I prefer to go where I can do the most good, rather than proudly declaring allegiance to a brand name. And honestly I like some of the things the GOP claims they stand for (but those things are, in practice, precisely the opposite of the policies and programs they pursue once elected).

3 Likes

Who did you vote for in the 2004 Primaries? Was there someone else?

2 Likes

The dichotomy you propose is stupid. And no. Small businesses are often exempt from all kinds of regulation and legal obligation to behave ethically. They are harder to police, and if you’ve got a worker’s comp claim, it can be impossible to make your life whole or pay your bills if the local LLC files for bankruptcy because it was shittily managed and doesn’t have sufficient assets to cover the claim.

You own 'em. I’ve worked for them, and let me be clear:

The working class and the employing class have nothing in common.

2 Likes

I’m not a fan of allowing folks to accrue massive capital in the first place. I didn’t say, in my remark, that “This is the only tax I support.”

No, capital, not just gains, should be taxes heavily in stepped increments.

4 Likes

This is not based on thorough statistical research, but I do not trust people with the means and willingness to actually try that. It would be nice if it worked as a threat, but I think if significant numbers of people did arm themselves and rise up, they wouldn’t be socialists.

1 Like

Citation required. A very large portion of Americans aren’t members of any party (I’m not) and many that technically are don’t vote or aren’t motivated. Sort of like church attendance.

2 Likes

Do you know what status quo means?

Who could defend Status Quo?

50 years playing three fucking chords.

5 Likes

That’s exactly how I work at it. I want ALL citizens to have the same opportunities I have (or as close as possible).

4 Likes

I’m not suggesting it’s a good idea (the opposite in fact), but if we are talking about options for solving massive wealth inequality then we should include the ones that has been carried out in the past, if only as a warning.

5 Likes

Apparently, they have classism in common.

2 Likes

No True Scotsman, eh?

He’s a Democratic Socialist along the model used by functioning states in Europe. Is he and out and out Marxist revolutionary? No. A Marxist revolutionary wouldn’t be running for office, especially in America, either.

7 Likes

And then there is this: a restriction on property purchases for those not resident in Denmark. Would sort out London housing crises in a a minute…

6 Likes

I’m not sure why you’re mentioning this since my desire to balance a federal budget has no bearing on how or when to tax the 1%.

3 Likes

Didn’t we have a “recovery summer” a few years back? What went wrong?

How much are the Kennedys worth? The Clintons? George Soros?

Campbell soup? Isn’t there some politician whose wife has a lot of money involved in that?

Which you will then tell us is mythical and doesn’t exist, like gender and money?

4 Likes

HI NEWBIE, WELCOME TO BB!!!

I can tell where you’re coming from by your deployment of the George Soros shibboleth, so I shan’t be bothered to engage. Have a nice day!!!

10 Likes

Yeah, it’s just that given how badly it would all go, it would be nice if the revolutionaries at least started with good intentions.

1 Like