Do we need billionaires?

[LotusBud]

From the annual gathering of the elites in Davos, Switzerland, to the talk show sets of New York City, a new conversation is taking place about the role of the superrich in America, and Rep. Alexandria Ocasio-Cortez, D-N.Y., is largely responsible.

Shortly after being sworn in earlier this month, the congresswoman who represents parts of Queens and the Bronx suggested a 70 percent top marginal rate on the wealthiest Americans. Many mainstream pundits scoffed at the idea, but it has proven popular, winning support from economists writing in the New York Times and a 59 percent approval from respondents in one survey.

https://www.yahoo.com/news/need-billionaires-ocasio-cortez-forces-conversation-place-superrich-100007745.html

[Oliver Clotheshoffe]

Do we need poor people?

No, we don't.

[LotusBud]

Do we need poor people?

No, we don't.

Well, if the billionaires weren't stealing everyone's money, there wouldn't be very many poor people.

Billionaires are a drain on the environment and they take everyone's money.

[Oliver Clotheshoffe]

Well, if the billionaires weren't stealing everyone's money, there wouldn't be very many poor people.

Billionaires are a drain on the environment and they take everyone's money.

Stealing money from the poor? The poor don't have any money 

[LotusBud]

Stealing money from the poor? The poor don't have any money 

You're not very aware, are you?  The reason they're poor is because they have been nickle and dimed by fees, taxes, shit pay, exorbitant rents, payday loans, high interest rates, medical bills, tuition, etc.  Where does all that money go?  Why, to the billionaires, who just never have enough to be happy.

[Joe]

From the annual gathering of the elites in Davos, Switzerland, to the talk show sets of New York City, a new conversation is taking place about the role of the superrich in America, and Rep. Alexandria Ocasio-Cortez, D-N.Y., is largely responsible.

Shortly after being sworn in earlier this month, the congresswoman who represents parts of Queens and the Bronx suggested a 70 percent top marginal rate on the wealthiest Americans. Many mainstream pundits scoffed at the idea, but it has proven popular, winning support from economists writing in the New York Times and a 59 percent approval from respondents in one survey.

https://www.yahoo.com/news/need-billionaires-ocasio-cortez-forces-conversation-place-superrich-100007745.html

Well even Adolf Hitler made Germany’s wealthy  pay at least 50% income tax. A high school dropout, Hitlorealized that all his ambitious economic plans required tax revenue. This idea that billionaires should get the lowest or no tax at all is the stuff of pure fantasy. Donald Trump wants America’s cities to look like Dubhai but then doesn’t want his billionaire class to ante up to make it a reality. Trump talks but doesn’t want to pay for anything. He’s as phony as his Border Wall. Tho he was evil, At least Hitler got the autobahn built - and its still there tho H isnt. Point being - if taxes aren’t paid, large public works projects like these & Trump’s vaunted Wall won’t get built.

[LotusBud]

Well even Adolf Hitler made Germany’s wealthy  pay at least 50% income tax. Even he, a high school dropout, realized that all his ambitious economic plans required tax revenue. This idea that billionaires should get the lowest or no tax at all is the stuff of pure fantasy. Donald Trump wants America’s cities to look like Dubhai but then doesn’t want his billionaire class to ante up to make it a reality. Trump talks but doesn’t want to pay for anything. He’s as phony as his Border Wall. Tho he was evil, At least Hitler got the autobahn built - and its still there tho H isnt. Point being - if taxes aren’t paid, large public works projects like these & Trump’s vaunted Wall don’t get get built.

The upper tax rate during Reagan was 90%.  No millionaires died of hunger then.  I can't imagine why this 70% tax on incomes over $10 million would bother a single solitary person on this board.

[MacGuffin]

The upper tax rate during Reagan was 90%.  No millionaires died of hunger then.  I can't imagine why this 70% tax on incomes over $10 million would bother a single solitary person on this board.

"Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."  John Steinbeck

[LotusBud]

"Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."  John Steinbeck

Exactly.  More evidence of a collection of low IQ folks with delusions of grandeur.

[Joe]

One possible suggestion for wealth distribution is to allow individuals such ad Bill Gates, Warren Buffet, George Soros, Larry Ellison & others to amass huge fortunes when  they are alive but when they die, they have to either pass most of their money onto the state, public works  projects or charity. They’d be able to pass some of their fortune to family members but not $40 billion. Perhaps $1 billion? I think thats fair because the billionaire can enjoy the fruits of their labor when they are alive but cant take it with them and the money is no use to them after theyre dead anyways . Also it discourages dynasties, excessive concentration of wealth abd allows living entrepreneurs to benefit from this post mortem redistribution of weslth. In other the social and political system becomes refreshed reinvigorated.

[LotusBud]

One possible suggestion for wealth distribution is to allow individuals such ad Bill Gates, Warren Buffet, George Soros, Larry Ellison & others to amass huge fortunes when  they are alive but when they die, they have to either pass most of their money onto the state, public works  projects or charity. They’d be able to pass some of their fortune to family members but not $40 billion. Perhaps $1 billion? I think thats fair because the billionaire can enjoy the fruits of their labor when they are alive but cant take it with them and the money is no use to them after theyre dead anyways . Also it discourages dynasties, excessive concentration of wealth abd allows living entrepreneurs to benefit from this post mortem redistribution of weslth. In other the social and political system becomes refreshed reinvigorated.

Another good idea.

Clearly something has to be done.  It cannot go on like this.

[MacGuffin]

One possible suggestion for wealth distribution is to allow individuals such ad Bill Gates, Warren Buffet, George Soros, Larry Ellison & others to amass huge fortunes when  they are alive but when they die, they have to either pass most of their money onto the state, public works  projects or charity. They’d be able to pass some of their fortune to family members but not $40 billion. Perhaps $1 billion? I think thats fair because the billionaire can enjoy the fruits of their labor when they are alive but cant take it with them and the money is no use to them after theyre dead anyways . Also it discourages dynasties, excessive concentration of wealth abd allows living entrepreneurs to benefit from this post mortem redistribution of weslth. In other the social and political system becomes refreshed reinvigorated.

Not sure about Soros or Ellingson, but at least Gates and Buffet (among others) have long said the bulk of their estates are to be donated. (Too bad the Trump Foundation ist kaput, it may have been in line for a nice chunk of change <sarcasm.exe/font>)

[LotusBud]

[Phester0boyle]

Envy and jealousy will eat a person up.

[MacGuffin]

Envy and jealousy will eat a person up.

First, you must want to change.

[Oak]

Every single socialist country is a failed state.  Giving Hitler credit? Reading this thread is like being in an alternate universe, especially with what's happening in Venezuela.

[LotusBud]

Envy and jealousy will eat a person up.

It's usually the low IQ crowd who believe everyone who isn't a billionaire wants to be one.  Just because you have vacuous and unreachable goals doesn't mean everyone else does.

[Phester0boyle]

It's usually the low IQ crowd who believe everyone who isn't a billionaire wants to be one.  Just because you have vacuous and unreachable goals doesn't mean everyone else does.

I've reached my goals. They weren't monumentous to begin with.
We have everything we want. All earned.

[LotusBud]

I've reached my goals. They weren't monumentous to begin with.
We have everything we want. All earned.

Nice.  So, why do you think I am jealous of billionaires, then?  Because I think everyone deserves to live a dignified life?