He just will not change

[icanthearyou 4,463]

On 8/10/2023 at 7:28 AM, SaltyTiger said:

Recall reading an interesting article along those lines. It concluded that 3rd and 4th generation companies are the most pivitol/vulnerable. Those organizations have reached a stage where most or all original founders/builders have passed along assets and decisions to the “silver spoon” generation. Success or failure obviously due to the “silver spoon” work ethic, etc…

 

Or, it could be the product of knowing that the easy, safe money is utilizing capital for personal investments rather than risking capital in order to produce real goods and services.  Even the largest corporations are using profits for stock buybacks.  They are using less than 10% for reinvestment.

This is now a finance economy.  The power of capital is greater than the potential of productivity.  It is ultimately unsustainable. 

[SaltyTiger 7,808]

5 minutes ago, icanthearyou said:

Or, it could be the product of knowing that the easy, safe money is utilizing capital for personal investments rather than risking capital in order to produce real goods and services.  Even the largest corporations are using profits for stock buybacks.  They are using less than 10% for reinvestment.

This is now a finance economy.  The power of capital is greater than the potential of productivity.  It is ultimately unsustainable. 

Can agree with you on that and have seen it at different levels in my industry. The so called “silver spoon” usually ends up in a good position personally. The say 20 year employee not good at all.

[icanthearyou 4,463]

On 8/9/2023 at 10:57 AM, auburnatl1 said:

You could also argue the top 1% pay almost half the taxes.

But,,, how much of the disposable income do they receive?  The problem is a reflection of growing income inequality.  If you want to grow the tax base,,, you have to have people with incomes that are taxable.

Still, to only use federal income tax to reflect the actual tax burden is highly disingenuous.  Employment taxes, state and local taxes have to be considered and, these taxes are regressive.

And, the problem is not found in the 1%.  The problem lies in the .001%.  These people have too much power, they are the defacto government.  An over class has never worked in any society, under any form of government or, economic system.

[aubaseball 2,612]

There has always been a wealth class in every society from the beginning of civilizations.   I don’t know how you propose this to not happen and justly why it shouldn’t happen.   Why are you the arbitrator of wealth?   You seem to be a person that criticizes the right a lot but never seems to criticize the left and the wealthy that push the liberal agenda.   

[auburnatl1 4,920]

49 minutes ago, icanthearyou said:

But,,, how much of the disposable income do they receive?  The problem is a reflection of growing income inequality.  If you want to grow the tax base,,, you have to have people with incomes that are taxable.

Still, to only use federal income tax to reflect the actual tax burden is highly disingenuous.  Employment taxes, state and local taxes have to be considered and, these taxes are regressive.

And, the problem is not found in the 1%.  The problem lies in the .001%.  These people have too much power, they are the defacto government.  An over class has never worked in any society, under any form of government or, economic system.

That’s simply wrong. The vast majority of the “.001%” were/are creators. Mostly in tech. Who created millions of jobs and kept this country at the forefront of the world’s food chain. You can villianize and try to redistribute their wealth and influence if you wish but, again, imo it’s dated Robin Hood thinking.  We need them.

https://www.forbes.com/sites/mattdurot/2022/09/27/the-2022-forbes-400-the-20-richest-people-in-america/?sh=7b651b771f0a

[icanthearyou 4,463]

46 minutes ago, aubaseball said:

There has always been a wealth class in every society from the beginning of civilizations.   I don’t know how you propose this to not happen and justly why it shouldn’t happen.   Why are you the arbitrator of wealth?   You seem to be a person that criticizes the right a lot but never seems to criticize the left and the wealthy that push the liberal agenda.   

We have been here before.  When the inequality becomes unbearable and unsustainable, we can learn the lessons of the late 19th/early 20th century again.  And hopefully, there will be another person like FDR who can save capitalism and democracy.

Yes, I do criticize the political right.  They want to give capital even more control.  I also criticize the left when they talk out of both sides of their mouth.  However, they at least propose some policies/legislation that will help restore some balance and, offer some relief for the working class.

Being perpetually left or right is ignorant.  The answer is to balance the needs/interests of society/humanity and capital/business.  The key is knowing when to be left, when to be right.

[homersapien 11,373]

On 8/16/2023 at 3:26 PM, aubaseball said:

There has always been a wealth class in every society from the beginning of civilizations.   I don’t know how you propose this to not happen and justly why it shouldn’t happen.   Why are you the arbitrator of wealth?   You seem to be a person that criticizes the right a lot but never seems to criticize the left and the wealthy that push the liberal agenda.   

Does the right have an "agenda", or is it just the left?

[AUFAN78 3,897]

On 8/10/2023 at 12:36 AM, AU9377 said:

I don't doubt that.  After all, having assets that give someone a net worth of $1 million or more is nice, but it isn't the kind of wealth I was discussing earlier.  I only pointed out the advantage that it gives someone. I never said that it was impossible to achieve without it.  It is what it is... and to some extent will always be that way.  Complaining about it would be a waste of energy.

You have adopted a page from  the homey playbook. Move the goalpost and waffle. LOL

[AU9377 4,931]

33 minutes ago, AUFAN78 said:

You have adopted a page from  the homey playbook. Move the goalpost and waffle. LOL

I was engaged in a discussion.  That doesn't always require score keeping & goal posts.  Nonetheless, we all do that from time to time.

[AUFAN78 3,897]

28 minutes ago, AU9377 said:

I was engaged in a discussion.  That doesn't always require score keeping & goal posts.  Nonetheless, we all do that from time to time.

But your engagement was indeed questionable and required moving the goalpost. The point.