FI460
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And a 90% top tax rate?
Teddy Coming Down
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And a 90% top tax rate?
BigHornRam
Well-known member
Come on now! You need to factor in the low cost of Chinese made facemasks in today's economy if you are going to make that apples to apples comparison.
BigHornRam
Well-known member
90% with all kinds of creative ways to deduct your income.
When Ike was President, we had a pretty hefty corporate tax rate & a strong inheritance tax to ensure that wealth wasn't concentrated among a few individuals who would try to control us all. That tax code which built the middle class in the 1950's, 60's and to some extent the 70's was upended under Reagan, who increased taxes on the middle class and lowered them on the wealthy.
This was the period of innovation in America, when corporations had to spend their earnings on things like R&D & better wages rather than hand over 70% or more of their earnings to the Gov't. It spurred the greatest economy seen, and it created more dispersed wealth among the middle class than any nation had previously seen.
Now, we prefer to give those earnings to shareholders rather than re-invest in America. We've traded long-term sustainability and upward mobility for the false promise of trickle-down economics, which have now caused 4 recessions and the largest gap between wealthy and poor in history during my lifetime.
When ABC Corporation gets a tax increase, do they just take a loss? Or do those taxes get passed on to the consumer in the form of higher priced goods?
When ABC corporation uses those profits to increase the wealth of major shareholders, rather than reinvest those profits into their employees or their company, do they degrade the overall nation by which they thrive?
BigHornRam
Well-known member
Wow Ben! Quite the dissertation. I was around in 70s and economy sucked ass back then.
Thank Nixon.
BigHornRam
Well-known member
Thank Johnson, Nixon, and Carter. They all sucked ass.
Your answer is a question. Very telling. To answer your question. For a publicly traded company it is the "job" of the corporation to make a profit for its investors (many of which are also employees). If they don't make a profit for the investors, nobody will invest and the corporation will cease to exist. Corporations make business decisions on how to invest to best suit their business goals. Pretty basic economics that haven't recently changed. I assume you think more government regulation would improve income equality. If that is not what you think, I'd love to hear your solution.
America has problems, but she is still the greatest country on earth, in my not so humble opinion!
Look at past atrocities : Russia--Lenin and Stalin
China--Mao
Africa--Idi Amin
and as I type, China has overplayed their hand in Africa and are facing a huge backlash there. North Korea, Iran, Venezuela, are not on my travel to itinerary
Aborigines are probably not happy with their treatment in Australia, Indians in the U.S. and Canada, Women in any of the Arab nations
Isreal has had approx 25 rockets fired at their country so far in 2020. They teach their children a poem. 'What does the wind bring with it" so that their children will not play with the balloons that drift into their country, because they ar rigged with explosives that can kill or injure the child who plays with it. CHILDREN ARE TARGETED
Americans in France. I include this one with tongue in cheek
Harley, if you would be so kind, see if you can find the song that was sung by approx 25 artists---male, female, black, white, brown, rock, country, pop---in the 80's. "We are the world" The production of this song by this group of artists was the brainchild of Belafonte but Q. Jones was instrumental in bringing it together.
But it is correct, IMHO. We need to teach our children, WE are all one. Male, Female, Black, White, Brown, Catholic, Jew and maybe if we keep teaching our children this simple fact, sometime, somehow in the future we will all get alone a bit better.
but it does not look like it is going to happen in this lifetime for me. Maybe I need to adopt Shirley Maclaines ( sp ? ) philosophy and I might see it happen next time around
Hunting Wife---you have no idea how good the breeze feels (-; AAAAHHH Of course the music and wine helps as well (-;
Look at past atrocities : Russia--Lenin and Stalin
China--Mao
Africa--Idi Amin
and as I type, China has overplayed their hand in Africa and are facing a huge backlash there. North Korea, Iran, Venezuela, are not on my travel to itinerary
Aborigines are probably not happy with their treatment in Australia, Indians in the U.S. and Canada, Women in any of the Arab nations
Isreal has had approx 25 rockets fired at their country so far in 2020. They teach their children a poem. 'What does the wind bring with it" so that their children will not play with the balloons that drift into their country, because they ar rigged with explosives that can kill or injure the child who plays with it. CHILDREN ARE TARGETED
Americans in France. I include this one with tongue in cheek
Harley, if you would be so kind, see if you can find the song that was sung by approx 25 artists---male, female, black, white, brown, rock, country, pop---in the 80's. "We are the world" The production of this song by this group of artists was the brainchild of Belafonte but Q. Jones was instrumental in bringing it together.
But it is correct, IMHO. We need to teach our children, WE are all one. Male, Female, Black, White, Brown, Catholic, Jew and maybe if we keep teaching our children this simple fact, sometime, somehow in the future we will all get alone a bit better.
but it does not look like it is going to happen in this lifetime for me. Maybe I need to adopt Shirley Maclaines ( sp ? ) philosophy and I might see it happen next time around
Hunting Wife---you have no idea how good the breeze feels (-; AAAAHHH Of course the music and wine helps as well (-;
glass eye
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Doublecluck
Well-known member
Who are today’s leaders innovative or political who will be statues in 50-200 years?
Im all for tearing down the system and rebuilding from scratch, so as long as the public education industry goes with it.
The fact that the majority of the people under 30 cannot cite a single amendment to the US constitution or even name the people in the statues they are tearing down nor have any idea what they did is a testament to what we are getting for our tax dollars.
Im all for tearing down the system and rebuilding from scratch, so as long as the public education industry goes with it.
The fact that the majority of the people under 30 cannot cite a single amendment to the US constitution or even name the people in the statues they are tearing down nor have any idea what they did is a testament to what we are getting for our tax dollars.
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This is how things work today. Not how they worked in the past. Again, with the changes that were largely instituted by Reagan, we've put those shareholders ahead of everyone else and it has created a massive inequity problem. But the reality is the business model you put forward is a short-term strategy that has led to off-shoring jobs, off-shoring profits, increased dependency on welfare programs for workers (Wal-Mart, etc) and placing the profit motive above all else, including civic duty.
Which precisely what folks who make tons of money want.
The flipside of that was what Ike had - which led to better pay for the middle class, which had a longer-term effect on elevating generations out of poverty, increased consumer spending & a sustainable housing market, as well as better governance, less reliance on SSI for retirement, etc.
So it's a question of priorities: Do you want short-term gains of stockholders to constantly outweigh the ability of the working class to actually grow and increase their own wealth? We've seen what 40 years of the model you like has produced - massive inequality and a declining middle-class, home-ownership as a pipe dream for at least 2 generations, shifting the cost of business to the taxpayer in the form of massive welfare programs that had traditionally been paid for through company retirement & good health plans, etc.
We've seen what Eisenhower's model produced: Massive economic growth for the working class and middle class, innovation and increased sustainability for those who work for a living, strong manufacturing sectors, solid GDP, strong economic factors that spurred new businesses and strong main-streets where small businesses thrived.
If I suggested a statue of Randy for his leadership on the forum and hunting expertise, would that be like bringing an apple to your teacher in school
Doublecluck
Well-known member
If I suggested a statue of Randy for his leadership on the forum and hunting expertise, would that be like bringing an apple to your teacher in school
Yes, but it’s likely at our current rate of progression in 200 years killing a elk/deer will be murder and Randy will be interpreted by the youth as the man who Perpetrated the killing of earths wild beings. I’m sure there will be hundreds of scientific studies to prove it. He will be torn down for sure.
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200 years? You're optimistic...
R
rwc101
Guest
Got a citation for these claims or is it just more hackneyed generation bashing?
BigHornRam
Well-known member
Can you loan me a pair of those rose colored glasses you wear Ben? The 60s were as violent and dare I say more divisive then today. The economy in the 70s was in the toilet. If Reagan continued on with the failed ideology of Carter, we would have been in a real mess. But in your mind he was the problem. Hard to follow those philosophies so I won't even try. I'll leave you with this old classic from that era though.
Doublecluck
Well-known member
Yes, my own observation, I have 4 kids in public schools, I’m a product of public schools, and have employed over 100 people 18-25 in the last 20 years with high school and college educations. Had I not been lucky enough to meet my first “teacher” in the 11th grade which happened to teach US history and economics and have a uncle who is a history professor I wouldn’t know anything of US history. Please prove me wrong, Go out in to the crowd tearing down a statue and ask people to cite the 3 branches of government.
The thing is, when I was 16-20 my views were pretty progressive/leftist, on the punk rock scene, world owes me, etc, etc.. lived in a trailer park, racially diverse neighborhood, got shot at, got jumped, race riots (black vs Hispanic), hell I helped stage a school walkout in protest of prop 187, even then the majority of the kids didn’t know what they were protesting, just a excuse to get out of school.
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