Elizabeth Warren wealth tax

[watisthis]

You must not understand what peer-reviewed means.

https://www.washingtonpost.com/busi...-lower-tax-rate-than-working-class-last-year/
https://qz.com/1752676/the-job-quality-index-is-the-economic-indicator-weve-been-missing/
https://www.bloomberg.com/news/feat...-money-of-the-super-rich?srnd=businessweek-v2
https://scholar.princeton.edu/sites/default/files/zidar/files/zidar_tcfw_jpe_2019.pdf
https://web.stanford.edu/~pista/MPC.pdf
https://academic.oup.com/sf/article/98/2/622/5418441
https://www.eurekalert.org/pub_releases/2019-03/hu-tig032619.php

Yeah, Utah v Oregon is about to start. I don't care to talk about it but I'm going to take a break from educating the boomers on fiscal policy, and fake news.

Sponsored

 

[watisthis]

Lmao, so you're quoting me and editing what I'm saying, that's so boomer. Hahahaha!

 

[watisthis]

Lmao! What? They're not playing in your country, but I need to become a permanent citizen? I'm a 12 year Army vet working at the NSA. You are too wild for me, boomer.

 

[2018OFPP1?2]

Someone who works at the NSA writes policy that helps others?

This guy is the fakest of the fake news.

 

[Hack]

In fact, let me dumb this down as best I can.

I'm not going to call your comments dumb.

In capitalism, companies compete with each other to get the highest profit margin possible. In order to get the highest profit margin possible, they must keep their costs as low as possible. Labor is a cost. Ergo, the goal is to pay as low as possible for employees. There is essentially a race for the bottom for who can pay their employees the least while still being productive.

I agree 100% that businesses want to pay employees as little as possible. What you left out is that there are multiple businesses and those businesses compete for employees. The more jobs there are, the tougher the competition is for employees. When the unemployment rate is really low, businesses have trouble finding good employees. This exact situation we are in right now! This is when wages tend to increase. Hopefully this is clear enough to understand. High taxes = high unemployment = wage stagnation and low wages.

This race for lowest production costs possible means things like automation, changing full-time employees to contract/temp work, outsourcing, nixing things like retirement pensions, fighting against minimum wage increases, anything to drive down this cost.

Again yes you are right and low unemployment leading to businesses competing to find good people improves this situation for workers. Also, it's important to keep a low amount of regulations so that workers can decide to start their own businesses.

So if you consider the above then think about this: Capitalism depends on consumption, i.e. people buying things. People need to buy the basics, stuff like food and shelter. But capitalism also needs them to buy things like iPads, purses, skateboards, etc. Basically, people need disposable income.

Another argument for low taxes. High taxes make everything more difficult to afford.

So it looks to me like there is a conflict between the need for lowest labor costs possible and the need for consumers to spend their income. But wait it gets better! They found the solution. Debt. Rich people loan poor people money with interest to buy all that stuff. Medical debt, mortgage debt, student loan debt, car loan debt, credit card debt, etc.

Politics of envy. And debt isn't a problem only for the poor. Many people with high incomes purchase more than they can afford.

As a result of this race to the lowest production cost possible, wages aren't going up despite very low unemployment. It also why you hear about how Americans don't have enough saved to cover a $400 emergency. It's not that wages aren't going up because capitalism is failing, on the contrary, wages aren't going up because capitalism is achieving its goal of streamlined low-cost production extremely well. Wages are essentially becoming as optimized as they can get. It's also why there are so many "Millenials kill x industry" stories, categories of products and services are being "killed off" because they depend on a level of disposable income that the newest generations just simply do not have.

I think you are reading too many articles written by people who believe in failed left wing policies. With low unemployment and a strong economy come increases in wages. There is always shifting demand with some products (think cars) having low or decreasing demand and others (SUVs and big pickups) with high demand. The fact that people are buying big vehicles here lends credence to the fact that wages are good in the US. People scoff and skip over the cheaper vehicles like the Fiesta I own. People only walk or ride bikes because they want to improve their health - and almost never because they can't afford a car. That is why America is the first world. The best standard of living. Inexpensive products, good wages for workers. Great place to live.

https://www.bloomberg.com/news/articles/2019-04-07/dalio-says-capitalism-s-income-inequality-is-national-emergency

Ray fucking Dalio is even like whoa now maybe shit is out of hand here. Imagine a billionaire telling us plebians that we, in fact, are getting shit on.

Welcome to Corporatism

Jealousy and envy is an argument often put forward by the Left. Just because someone has more money than I do doesn't mean that I'm not lucky to live in America and fortunate to have a good job. Income inequality is a meaningless statistic. If only the high income earners could afford food, a car, shelter, etc. - THEN income inequality would be a huge deal. But here in the US, people can work in a fast food restaurant and afford those things.

 

[watisthis]

I'm not going to call your comments dumb.


I agree 100% that businesses want to pay employees as little as possible. What you left out is that there are multiple businesses and those businesses compete for employees. The more jobs there are, the tougher the competition is for employees. When the unemployment rate is really low, businesses have trouble finding good employees. This exact situation we are in right now! This is when wages tend to increase. Hopefully this is clear enough to understand. High taxes = high unemployment = wage stagnation and low wages.

Again yes you are right and low unemployment leading to businesses competing to find good people improves this situation for workers. Also, it's important to keep a low amount of regulations so that workers can decide to start their own businesses.

Another argument for low taxes. High taxes make everything more difficult to afford.

Politics of envy. And debt isn't a problem only for the poor. Many people with high incomes purchase more than they can afford.

I think you are reading too many articles written by people who believe in failed left wing policies. With low unemployment and a strong economy come increases in wages. There is always shifting demand with some products (think cars) having low or decreasing demand and others (SUVs and big pickups) with high demand. The fact that people are buying big vehicles here lends credence to the fact that wages are good in the US. People scoff and skip over the cheaper vehicles like the Fiesta I own. People only walk or ride bikes because they want to improve their health - and almost never because they can't afford a car. That is why America is the first world. The best standard of living. Inexpensive products, good wages for workers. Great place to live.

Jealousy and envy is an argument often put forward by the Left. Just because someone has more money than I do doesn't mean that I'm not lucky to live in America and fortunate to have a good job. Income inequality is a meaningless statistic. If only the high income earners could afford food, a car, shelter, etc. - THEN income inequality would be a huge deal. But here in the US, people can work in a fast food restaurant and afford those things.

Dude I'm done talking to you about this. You are unable to have an open-minded argument, you keep bringing up left policies vs right policies. There is no way for you to be unbiased in this discussion. I'm sure you're a good guy but you're unable to read an article that goes against what you believe because apparently statistics and data analytics backed by subject matter experts who aren't mainstream media puppets paid for by whatever wealthy donor is too left-wing.

Take it easy and enjoy your holidays.

 

[watisthis]

Thanks!

Yes, I edited my post to Oregon after I saw my mistake, doh.

Read my previous reply as I am done posting in this thread, I obviously need another 5 years of experience in U.S. economics.

 

[Hack]

Dude I'm done talking to you about this. You are unable to have an open-minded argument, you keep bringing up left policies vs right policies. There is no way for you to be unbiased in this discussion. I'm sure you're a good guy but you're unable to read an article that goes against what you believe because apparently statistics and data analytics backed by subject matter experts who aren't mainstream media puppets paid for by whatever wealthy donor is too left-wing.

Take it easy and enjoy your holidays.

I hope your holidays are great.

And most of the wealthy are liberal. After all, the Democratic party is the party whose policies benefit the wealthy at the cost of many poor people suffering.

 

[nrcote]

I love your Double Race Red Journal. For anything else, OK boomer.

Sponsored