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Old 08-18-2019, 12:12 PM #61
Zaroku Zaroku is online now
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Originally Posted by siablo14 View Post
Laugh all you want. At least you realize that it is owed.
It is owed.. with interest

Iím not laughing..btw.
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Old 08-18-2019, 09:55 PM #62
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Originally Posted by siablo14 View Post
Go learn how a proper economy should run. it shouldn't be lopsided.
Well seeing as how USA has the most powerful and largest economy in the world I think its safe to say we're doing it right.
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Old 08-18-2019, 10:08 PM #63
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You can "fix" this by restructuring the laws governing public corporations scaling/absorbtions & promoting monopoly breakups, which should in theory be something both parties want (***).

Radical redistribution of personal income will lead to widespread poverty and authoritarian atrocities. As it has in the past 1,000 attempts.

*** In theory... but in reality it doesn't work that way. As soon as Republicans got into a fight with Google, Democrats became pro-corporation. As soon as the Republicans elected an anti-war president, the Democrats started demanding to invade Syria. Etc...

That's how the game is played...

Last edited by ////; 08-18-2019 at 10:12 PM.
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Old 08-18-2019, 10:13 PM #64
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Originally Posted by megas30 View Post
To address the CEO vs nba players issue: One is the boss and sometimes owners/part-owners. NBA players are workers.
CEO's still answer to the board of directors who can replace or fire them.

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Here is where things get tricky. Many CEOs earn their wealth through equity packages with the firm. Investment incomes have a barrage of tax avoidance/minimization strategies that straight cheques (salaries) don't have. For example, favorable tax rates through incorporated holding companies and such.
Yes, this is correct.


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5% of 10m vs 20% of 100g is pertaining to your argument that the top 1% pays more tax revenue. Two of the founding principles of any tax system is fairness and equity. In simple terms, it means everyone is treated the same and pay roughly the same amount (%) of their income in taxes. There is also a progressive system, where the more you earn, the more you pay. People with investment income will see that their marginal tax rate and average tax rate is a little higher than people without investments.
Yes, and in the USA the bottom 50% of income earners pay virtually no federal tax at all, not sure how much more progressive it can get.

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However, having said the above, it is not the case with the CEOs. Their average tax rate and marginal tax rate is close or sometimes less than the working person. So, for instance if they pay 5% of their 10m income in taxes, it is still quite a large amount compared to working class Joe who might pay, say 20% of his 100g. In a sense, the CEO will have contributed more to the revenue system, but they are contributing less of their income compared to working class Joe. This is not consistent with the two Tax principles I have mentioned.
Again the working class joe takes more out of the system than he puts in. So even if a CEO was only paying 5% in taxes, that would still be more than that average working joe, (as per the link i posted) who actually pays virtually nothing in taxes.

For example, a working class Joe who has a family of 4 (a wife and 2 kids) and a Median household income of 50K, pays only 12% ($6000) of that income in taxes. During tax season he gets to off the bat write off 24K from the now new standard deduction, which gives him back $3000 as well as a bonus of $4000 for his two kids. This isn't even considering his incredibly subsidized cost of healthcare. So to recap, your average Joe pays $6000 in taxes and come April gets $7000 back, average Joe nets $1000 total. Not only is he not paying any taxes at the end of the year, he actually getting money.

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On my phone, so I cant quote you directly, but the insert you put up says nothing about CEOs and more about household income. The issue is CEOs not paying their fair share of taxes. It would be nice to see a break down of the contribution of income taxes over the150g range though because a 150g is regular income for working family, where husband and wife both work a decent job.

Even if this is the case, who cares? Your average Joe still gets a net positive back from the government, so why worry about the CEO? The CEO is still paying a higher percentage of taxes than the joe shmoe no matter how low that percentage is.
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Old 08-18-2019, 11:05 PM #65
QueensburyRules QueensburyRules is offline
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- -So?

Admit that where you live you empower your masters.

Democracy failing = Oligarchy 101.
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Old 08-19-2019, 07:08 AM #66
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Originally Posted by JimRaynor View Post
Well seeing as how USA has the most powerful and largest economy in the world I think its safe to say we're doing it right.
Yeah. Look how you got that way though. it wasn't by keeping the top heavy.
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Old 08-19-2019, 08:14 AM #67
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Originally Posted by Motorcity Cobra View Post
Remember. We the people bail them out.
And those you cheer on voted for those bailouts.
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