Some thoughts Archived Message
Posted by bigbop85 on October 6, 2023, 12:20:18, in reply to "Vacations, tax avoidance schemery, stonks, real estate, etc. Stuff that doesn't always show up"
First, I actually do support direct cash payments to the poor, particularly for those with kids. The child tax credit checks were great and should continue. However, I do think you are underestimating what the wealth of the 1% or .1% does. Tons of if flows into investment funds and vehicles that invest in startups, Series A, B, C level companies, and real estate plays to build massive residential/commercial/industrial buildings. There are many reasons why the US has the best entrepreneur/start up cultures in the world, one of those is easy access to funds. Now do the rich people making those investments usually make a shit ton of money? Yes, yes they do. And when it comes to tax rates on capital gains, I actually support higher rates for PE/VC funds whose income is derived through capital gains. Something closer to current federal level income tax rates would work for me. My final issue is that I just inherently don't trust the government to be a great "transferrer" of wealth. Do I generally think the top .1% should be taxed a little more? Yes, but then you lose me when it comes to the efficiency of transferring those funds. A real world example of this would be here in Illinois. JB wants to raise the state income tax on the top 5% or whatever, if he coupled that with promises to also reduce spending and costs, I'd be in. But instead it's "give me this money now, I know what to do with it."
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Message Thread: | This response ↓
- Bidenomics added 366,000 jobs to the economy last month - ATL October 6, 2023, 8:07:36
- pitchbot - ATL October 6, 2023, 10:35:48
- Jerome is going to smack us around for this for sure. * - doubledown October 6, 2023, 8:54:58
- lifelong republican Jerome Powell scared by people getting jobs? - ATL October 6, 2023, 8:58:40
- POOR people. All inflation hawks are terrified by poor people getting access to money. * - doubledown October 6, 2023, 9:10:05
- This is what I don’t understand about the economy - snipes824 October 6, 2023, 9:36:42
- When rich people get more money, they don't spend it on consumer goods. Poor people do. * - doubledown October 6, 2023, 9:44:08
- Let’s go down this route, where do rich people put their money? - bigbop85 October 6, 2023, 10:49:49
- Fancy private educations for their offspring of meager intellect? * - doubledown October 6, 2023, 10:58:04
- “Fancy” too strong a word, “meager” not strong enough* - Herman Blume October 6, 2023, 11:44:25
- ha! But seriously - bigbop85 October 6, 2023, 11:43:41
- Vacations, tax avoidance schemery, stonks, real estate, etc. Stuff that doesn't always show up - doubledown October 6, 2023, 11:58:01
- Some thoughts - bigbop85 October 6, 2023, 12:20:18
- "I just inherently don't trust the government to be a great "transferrer" of wealth" I agree - Desert October 6, 2023, 12:40:03
- That's a fair assessment, one point however - bigbop85 October 6, 2023, 12:52:28
- So, and I ask this sincerely, what is your solution to help stem single parent households?** - KingTalkyTiki October 6, 2023, 14:41:18
- You keep bringing up the CPS talking point without bringing up the host of things that CPS - Chilango October 6, 2023, 14:36:00
- Respectfully, that's a conservative talking point that is completely false. - Desert October 6, 2023, 13:04:44
- You know what leads to fewer single parent households? - Sounder October 6, 2023, 12:54:14
- We're just talking about why rich people's gains don't lead to inflation as much as poor and middle - doubledown October 6, 2023, 12:23:37
- he walked right into that one.* - VIV October 6, 2023, 11:30:42
- Well, the poor/mids actually spend the money they make, so you can imagine that giving - ATL October 6, 2023, 9:42:40
- Strike fever isn’t helping* - JeffFrank October 6, 2023, 9:26:46
- "Higher for longer"* - bucktownillini October 6, 2023, 8:46:48
- Bad news for mortgage rates* - JeffFrank October 6, 2023, 8:36:01
- Does the iPhone forbid copying original URLs? - complainant October 6, 2023, 8:17:16
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