Progressive idea 80% tax - income over $500K doesn't go far enough to fix income inequality

originally posted by: pavil

That's the crux of their arguement. I should get paid more than the job is worth. It doesn't matter if I could train a new person to do your job in a shift, their time is worth more than that. If that were the case, I would suggest they find a job that will pay that, rather than demand an entry level job pay more.

That is why the term slave wages is commonly used. The value of the job is no long a measurement of pay, it is the value of a person willing to give you 8 hours of their time that people think should set the wage.

a reply to: Xtrozero

I have an M after my name, along with a B....and was encouraged to go after a D, but I wanted to get out of school and get to work.

I just didn't go into economics or business.

But I don't care to discuss that here.
Some of my cohort "M"s went on to get an MBA, because it was clear that our "M" wasn't what it was cracked up to be.

Never been a social climber. Sorry. My bad, I guess.
Sales? Can't do it. Run a business? Probably not. Play the stock market? Lol, no, but....I manage to keep the household and our family going on a day-to-day basis, and my husband brings home the funds. Get a doctorate? Can't afford it.

I hear you, btw. I just hope you hear me, too - and wish people would stop blaming people who made what seemed at the time to be very GOOD choices...
we didn't know what was going to happen. I also left my last $25,000 job to help take care of my elderly father, in 2008. Bad timing. Now, I can't even get an interview at CVS, or Ace Hardware - because I'm "overqualified". 'splain me that? And yes, I've 'dumbed down' my resume and education to apply for whatever jobs are out there.....
Seems I've 'aged out' and been 'educated out' of the market.

And I'm not alone.
Would you hire a woman in her 50s who raised two successful kids, has a graduate degree in a totally different field from your business, and said she just needed an income to make her student loan payments, when you can get a 20-something to do it?
I'm a Baby Boomer. Things have changed since I was born.

My dad was a savvy entrepreneur, he took good care of us....
but the world has changed. As evidenced by this thread.

Look, I'm not trying to attack you. I'm just trying to figure out what to do....

a reply to: Xtrozero

I agree with 100s of billions, but trillions? Trillion is a Government word..... So you have a million dollars invested, are you hording that from the economy? Now lets say you have 50 billion in Wal Mart Stock, are you hording? Our inflation rate of 1.5% is not bad at all...

Bailed-out Banks Facilitate $21 Trillion Offshore Cash Hoard

Global Super Rich Now Hoard $31 Trillion in Tax Havens: Report

Analysis: Bailed-out banks facilitate $21tn offshore cash

Looks like trillions to me, but my eye sight is poor maybe you could check it for me?

What is insane about this proposal is the mega rich will still find a way to keep their money. This effectly makes it impossible for a common person to ever become truly wealthy. Even 500K a year income is still middle class. This proposal just stings the upper middle class and will be a de-motivating factor for anyone who wants to work hard to become wealthy.

originally posted by: Xtrozero


The colleges are to blame, .

They are and so is the Government with Student Loans.
The Government gives the student loans and then the colleges raise the price of admission each year so, you guessed it, you have to take out more and even higher student loans.

Must be nice to have a business (which colleges and universities are) where you can raise your prices at will and have Zero real repercussions from it.

Higher Education does a HORRIBLE job of advising students what career or vocation to get into.

When we have more student slots for a chosen field than the job market can support you end up with these false hope degrees.

It's hardly ever the case that you can't find a college to take you for a chosen degree. Perhaps you can't get into your first choice, but eventually someone will take your money and give you that degree, only there isn't a job available because the market is saturated way beyond the point of new graduates entering the field.

I see too many graduates from higher learning with meaningless/useless 4 year degrees.............

originally posted by: BuzzyWigs
I don't 'need to work' either, because my husband makes enough for us to live on - and I took care of the kids (before they got out on their own), and still am the 'home-maker' - I keep up with the house (we're talking bill-paying, budgeting, maintenance, inventory, cooking, cleaning, etc), and him...which is a FULL TIME JOB....

Ya my wife is like you, her job is harder than mine and we still have an 11 and 14 year old in the house.

He's a veteran, with PTSD and chronic anxiety issues, and needs someone to care for him/our home - is that not worth anything?

Sorry to hear, I got 28 years in the military, so my wife fully understands the military wife commitment.

My skills and education are proven, but I never made more than $25,000.....
yeah, I was working as a teacher/helper.
The pay was crap, but the rewards of helping outweighed it. Now I'm screwed.

I'm not saying that there are not low paying but rewarding jobs. Personally I think we need to pay teachers a lot more, and we can do that by cutting about 70% of the high paying administration jobs that have bloated the educational system.

A lot of this is dependent on where you live, here near Portland there is about 300 apps for every teacher position that is open, but there are parts of the country where they need teachers. When I retired from the Air Force people ask me where was I going to live, and I said, where the job takes me, I ended up near Portland...

a reply to: Xtrozero

Thank you for the acknowledgment. The problem is huge, and no one seems to know how to fix it.
Above someone said 500k is only middle class - and that is true.
Our household income is in the mid 5-digits.

Like I said, I appreciate your points. I just think, like AlaskanDad says - the mega-uber-wealthy are hanging us all out to dry.

And have the politicians in their pockets. That needs to stop.
IMO.

originally posted by: AlaskanDad
Looks like trillions to me, but my eye sight is poor maybe you could check it for me?

I'm talking yearly not saved over generations, BTW it says in your article that about 300 billion is lost in tax...

But once again when people throw around the 5%, 2%, !% or even the .01%, there are a lot of common people in that group.

If you want to suggest the .0001% ok have fun with that...

originally posted by: jrod
What is insane about this proposal is the mega rich will still find a way to keep their money. This effectly makes it impossible for a common person to ever become truly wealthy. Even 500K a year income is still middle class. This proposal just stings the upper middle class and will be a de-motivating factor for anyone who wants to work hard to become wealthy.

You may be correct in the mega rich will be left out of these taxes; I have always wondered when Forbes does it richest in the world articles why there are no Rothschilds listed, maybe no individual has that much or they are just better at keeping their wealth hidden from the prying eyes of reporters.

So we should just keep printing out more money so the rich can have plenty to hoard? Is having more millionaires good for the national or global economies? Are the millionaires needed by or society and if so how many can the economy support?

a reply to: Xtrozero

I had to give you a star, as your post to BuzztWigs seemed to have honesty and compassion..

And here I thought you was a form of A.I, lol's

a reply to: AugustusMasonicus

The only person entitled to the wealth is the man or woman who earned it. You are welcome to it while you are alive and I wish you well.

There is no success or merit involved in being born to rich parents. It shouldn't be allowed to accumulate down the ages passing from one lucky sperm to the next. No trust fund kiddies rich by accident of birth. I would quite happily and in good conscience put an end to all that.

Make them start from an equal bottom like everybody else. They can pull themselves up if they are worthy. If not, too bad.

a reply to: Xtrozero

Well, the rest of us are broke before the next paycheck, so who is really paying?

Yes, I want them pay for the wars. Then they can have a tax break after they pay for "nation building" failed plan.

a reply to: Xtrozero

That is hoarded cash that is not in our economy, that is more cash than the US GDP. How can that much hoarded cash be good for the economy?

Now if that much cash is hoarded one must assume the assets are even higher, the vacation mansions, private jets, luxury cars, gold ect, how does this help the economy?

I see there is to much motivation for extreme greed and not enough compassion for other human beings!

Some people would spend their entire lives doing good for others with those riches, the others would just want more.

a reply to: AlaskanDad

Even someone who pulls in over a million a year, a millionaire is still upper middle class.

Someone mentioned that they do not believe someone should be entitled to an inheritance. That is a horrible solution, many people strive for greatness so their children can have a better life.

I hate the insurance and banking industry. One thing that has kept things fair is occasionally someone can come along through hard work and or a great idea and make a fortune. One of the benefits of having a fortune is being able to provide a great life for your children and their children. There is nothing wrong with a family fortune.

originally posted by: AlaskanDad
Some people would spend their entire lives doing good for others with those riches, the others would just want more.

I guess my point is because some people are total asses without a care for their fellow man this doesn't mean that we just take it by creating interesting new tax ways.

Do you agree that we just take it?

originally posted by: MOMof3
a reply to: Xtrozero

Well, the rest of us are broke before the next paycheck, so who is really paying?

Yes, I want them pay for the wars. Then they can have a tax break after they pay for "nation building" failed plan.

The rich old bastard doesn't care, but the government wants you to be broke so they can subsidize you, lock you in for life never to escape or achieve anything but mediocrity. That way they can lock in your vote every year.

originally posted by: justwokeup
Make them start from an equal bottom like everybody else. They can pull themselves up if they are worthy. If not, too bad.

Hell, why stop there, maybe we should all start in a mud hut in Africa. You sound like a person who is envious of others. I'm envious of those born with a super IQ... maybe we should level the playing field there too.

originally posted by: AlaskanDad

And here I thought you was a form of A.I, lol's

LOL, thanks...I guess

a reply to: Xtrozero

Still my choice who I vote for. And what may be mediocrity to you is a life to someone else.

I worked for 40 years straight, worked up to the day I delivered all three of my babies, six weeks unpaid leave. My family served in the military, every war. I never had an abortion, gave birth to three kids, all from the same father. I did everything according to "the plan". I never worked for the government, I never took welfare from the government. I do collect my social security, which all $700 goes right back into the economy. It is time for the old bastards who reaped the rewards of my labor to pay their share, especially for these last two wars that the Oligarchy wanted.

originally posted by: Xtrozero

originally posted by: AlaskanDad
Some people would spend their entire lives doing good for others with those riches, the others would just want more.

I guess my point is because some people are total asses without a care for their fellow man this doesn't mean that we just take it by creating interesting new tax ways.

Do you agree that we just take it?

If you can suggest a better way to stop the needed currency from being accumulated by the few, I would love to hear it. But when our economies in in ruin because the majority of cash is being hoarded by a few, then yes I support taking a large portion of it from them for the good of the many.

I mean drug dealers work hard manufacturing illegal drugs, no one feels wrong taking their drugs or their money as it is harmful to the few that use their drugs, right?