Don't expect Demorats new taxes to stop with the wealthy
- Thread starter Arjuna
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BDinPutnam
.475 A&M Magnum
Nonesense.
According to "modern monetary theory" we can just print our way to 32 trillion dollars.
And if inflation starts to become a problem, tax our way out of inflation.
The critical thinking skills of the numbskulls that come up with this stuff is astonishing. We'll dump 3.2 trillion dollars of additional actual printed dollars into the economy every year and if inflation becomes a problem we'll just somehow instantly raise taxes on everyone by 70%. Which is not only actually possible in today's legislative climate, but also won't hurt anyone.
Hope your wheelbarrows are in good working order, you're going to need them when you want to go buy bread....
According to "modern monetary theory" we can just print our way to 32 trillion dollars.
And if inflation starts to become a problem, tax our way out of inflation.
The critical thinking skills of the numbskulls that come up with this stuff is astonishing. We'll dump 3.2 trillion dollars of additional actual printed dollars into the economy every year and if inflation becomes a problem we'll just somehow instantly raise taxes on everyone by 70%. Which is not only actually possible in today's legislative climate, but also won't hurt anyone.
Hope your wheelbarrows are in good working order, you're going to need them when you want to go buy bread....
GOYABEAN
.950 JDJ
The government including all parties meaning public and behind the scenes branches won't be content till we the public are enslaved in government work camp's they know what is best for the population 
BDinPutnam
.475 A&M Magnum
The government including all parties meaning public and behind the scenes branches won't be content till we the public are enslaved in government work camp's they know what is best for the population
"Work makes you free."
Modean
.223 Rem
The wealthy aren’t stupid. If taxes become too high they simply leave and take their money with them. They have the means. Not so much for the average guy, which is why it always comes from us.
Arjuna
.338 Win Mag
Sen. Elizabeth Warren, who represents Massachusetts and is 69 years old, probably followed rock and roll culture in the 1960s when the “British invasion” changed our music scene. It’s also when a lot of British rock groups including some of the Beatles and the Rolling Stones decided that England’s taxes took too much of their earnings — so they left the country.
They were, according to the phrase of that day and today, “tax exiles.”
But remember this, someone is going to have to make up the difference if very wealthy people in the US become tax exiles. And those who will make up the shortfall will be us regular wage earners.
This is an age-old storyline that might score friends and votes for politicians among the have-nots. And it is a damned shame that poor people aren’t helped more in a rich country like ours.
But is what Warren and Ocasio-Cortez proposing really smart?
What happened in the ’60s should give any thinking person pause about proposing confiscatory tax policies that make earning a lot of money hazardous to their wealth.
It should also make people worry that raising taxes to the moon will kill the incentive of creative business people to set up shop in the US. What if the late Steve Jobs, who founded Apple in the mid-1970s or Microsoft’s Bill Gates had felt that US taxes were too high and decided to set up shop in a tax haven country?
These creative business people might just do what the Rolling Stones did.
When each of the band’s members owed the British government a quarter million dollars — which was a huge amount at the time — the band moved to France to avoid the taxes. They also channeled their earnings from then on through a Netherlands holding company.
“You made 100 (British) pounds, they took 90,” Mick Jagger once told CNN. “So it was very difficult to pay any debts back.”
Jagger and bandmate Keith Richards are still tax exiles. Richards once told the New Yorker magazine: “The whole business thing is predicated on the tax laws. We left and they (the British) lost out.”
The Stones weren’t the only ones who fled British tax laws. David Bowie first moved to the US and then to Switzerland. Rod Stewart moved to Los Angeles and was quoted as saying: “The government thinks it’ll tax us bastards right up to the hilt because we won’t leave, but that’s wrong because I will if I want to.”
The Beatles’ Ringo Starr moved to Monte Carlo. Cat Stevens went to Brazil. Sting went to Ireland but then returned.
The rich these days have a lot more wealth than any rock group could ever hope for. And they are plenty more sophisticated and mobile. If the wealthiest Americans don’t already have a home somewhere else in the world, then it’s not difficult in our global economy to get one
https://nypost.com/2019/01/28/what-history-teaches-us-about-raising-taxes-on-the-rich/
Saltwater60
.950 JDJ
These people are so stupid it’s not even funny.
Tell that to Democratic presidential aspirant Sen. Cory Booker of New Jersey, who wants Uncle Sam to give nest eggs to poor kids. Booker would open a $1,000 savings account for every child born in the country, courtesy of taxpayers. After that, kids in the poorest families would get up to $2,000 added each year. Other kids would get much less or zip.
This is crazy and there are no restrictions. If these kids are no raised properly it would only buy them a fast car or drugs if it wasn’t pilfered by thier parents. I’m sure it would actually help a select few, but I’d guess 5% and they wold probably make it anyway. Sorry but $3,000 a year is only enough to buy votes. $3,000 is not life changing.
Tell that to Democratic presidential aspirant Sen. Cory Booker of New Jersey, who wants Uncle Sam to give nest eggs to poor kids. Booker would open a $1,000 savings account for every child born in the country, courtesy of taxpayers. After that, kids in the poorest families would get up to $2,000 added each year. Other kids would get much less or zip.
This is crazy and there are no restrictions. If these kids are no raised properly it would only buy them a fast car or drugs if it wasn’t pilfered by thier parents. I’m sure it would actually help a select few, but I’d guess 5% and they wold probably make it anyway. Sorry but $3,000 a year is only enough to buy votes. $3,000 is not life changing.