Proletarians in Food Lines, ... Stock Market keeps rising.

Hoosier Daddy said:
good!! nothing wrong with capitalism as long as enough social safety nets are available and unions and workers and consumers have government protection as needed. people who work harder, who try harder, who do what it takes, should be rewarded, and not all workers or people are the same and be paid the same or given the same opportunities at advancement.
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Saudi Arabia has a National Oil Company (ARMCO) that provides free education and free medical care for all Saudis. This State ownership is I guess like 'Communism' because it uses it's revenues to support certain elements of the Saudi economy. Here's something from an Article that claims a UBI doesn't work:

"Saudi Arabia proves this is a fantasy. Somewhere around two-thirds of Saudi nationals work for the government. Many of these people do virtually nothing, they are employed simply for social purposes, to keep the population happy. Thus, their incomes are very similar to universal basic incomes. The Saudi government gets 90 percent of its income from oil revenue, which given the ease of producing oil in Saudi Arabia and the use of foreign partners to do much of the producing makes this revenue source pretty similar to simply printing money. In Saudi Arabia money doesn’t grow on trees, but it does bubble out of the ground."
https://www.forbes.com/sites/jeffre...tion-to-slow-economic-growth/?sh=1e338fdc4bbe

"Basic income proponents talk of a day when robots and computers have taken almost all our jobs. With no way for most of us to earn a living, they claim the solution is for the government simply to give everybody money—a basic income—to live on. This free, no-strings-attached income will allow people to spend more on all sorts of things. That spending becomes somebody else’s income and continues to circulate through the economy, creating more economic growth, or so the story goes."
 
Jack said:
The CURRENT problem is ... Third World Workers are Benefitting at the Expense of First World Workers (like here in America where I live).
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Have you ever stopped to consider why that is? If so what have you concluded?
 
Hoosier Daddy said:
nothing wrong with making dough. we just need to tax incredibly rich people and incredibly profitable corporations at a much higher rate than carpenters and plumbers and mom and pop stores.
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:) Since Congress is made up of Agents of the Investing Class, that may be difficult.
 
Jack said:
:) Since Congress is made up of Agents of the Investing Class, that may be difficult.
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if they are democrats, no matter how rich they are, they will vote for it. pay attention to democratic party platforms, much, and how they actually govern when given the chance?
 
Yakuda said:
Have you ever stopped to consider why that is? If so what have you concluded?
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Capitalism dictates that you produce the Widget at the Lowest Cost.

So ...
a. Outsourcing the Industrial Base to Asia reduces the Labor Cost.
b. Automating Jobs that Humans do reduces the Labor Cost.
c. Importing Third World Labor INTO the U.S. reduces the Labor Cost.

So if you are a Capitalist and you believe Tariffs, Quotas, Subsidies are impediments to Open Markets and Free Trade, THERE IS NO PROBLEM WITH THE CURRENT SYSTEM.
 
Hoosier Daddy said:
nothing wrong with making dough. we just need to tax incredibly rich people and incredibly profitable corporations at a much higher rate than carpenters and plumbers and mom and pop stores.
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Two questions. One: what do you mean by "incredibly" in relation to who is taxed and at what rate? And two: what effect if any do you think that will have on the economy?
 
Hoosier Daddy said:
if they are democrats, no matter how rich they are, they will vote for it. pay attention to democratic party platforms, much, and how they actually govern when given the chance?
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:) Both Parties support Global Capitalism and have failed to address the Rising Inequality in America. (Hence the Title to the Thread)
 
Jack said:
Saudi Arabia has a National Oil Company (ARMCO) that provides free education and free medical care for all Saudis. This State ownership is I guess like 'Communism' because it uses it's revenues to support certain elements of the Saudi economy. Here's something from an Article that claims a UBI doesn't work:

"Saudi Arabia proves this is a fantasy. Somewhere around two-thirds of Saudi nationals work for the government. Many of these people do virtually nothing, they are employed simply for social purposes, to keep the population happy. Thus, their incomes are very similar to universal basic incomes. The Saudi government gets 90 percent of its income from oil revenue, which given the ease of producing oil in Saudi Arabia and the use of foreign partners to do much of the producing makes this revenue source pretty similar to simply printing money. In Saudi Arabia money doesn’t grow on trees, but it does bubble out of the ground."
https://www.forbes.com/sites/jeffre...tion-to-slow-economic-growth/?sh=1e338fdc4bbe

"Basic income proponents talk of a day when robots and computers have taken almost all our jobs. With no way for most of us to earn a living, they claim the solution is for the government simply to give everybody money—a basic income—to live on. This free, no-strings-attached income will allow people to spend more on all sorts of things. That spending becomes somebody else’s income and continues to circulate through the economy, creating more economic growth, or so the story goes."
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that is goofy!! do you really think the american population could live on just the profits of one or two businesses? that is like pie in the sky AOC kind of bullshit.
 
Yakuda said:
Two questions. One: what do you mean by "incredibly" in relation to who is taxed and at what rate? And two: what effect if any do you think that will have on the economy?
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incredibly would be those making over 4 million a year being taxed at 50% on everything over 4 million a year. and higher marginal rates for those making over 400K a year up to 4 million.

i would think if these tax increases, and on incredibly profitable corporations after a certain minimum, could be determined by the CBO to add a certain amount of extra revenue each year to the feds, after we start paying down the huge debt, those tax cuts could be matched by tax cuts for the middle class and working poor, which would drive the economy much more than tax cuts for the rich ever could.
 
Jack said:
Capitalism dictates that you produce the Widget at the Lowest Cost.

So ...
a. Outsourcing the Industrial Base to Asia reduces the Labor Cost.
b. Automating Jobs that Humans do reduces the Labor Cost.
c. Importing Third World Labor INTO the U.S. reduces the Labor Cost.

So if you are a Capitalist and you believe Tariffs, Quotas, Subsidies are impediments to Open Markets and Free Trade, THERE IS NO PROBLEM WITH THE CURRENT SYSTEM.
Click to expand...

Good. So why would any business or person want to pay more for something than they had to?
 
Hoosier Daddy said:
that is goofy!! do you really think the american population could live on just the profits of one or two businesses? that is like pie in the sky AOC kind of bullshit.
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I was posting an Article that claims the UBI is NOT THE ANSWER.

ARAMCO is a State Owned Company that allows the Saudi Citizen Free Education and Free Health Care. Americans LOVE paying for this (or they used to) by filling up their gas-guzzlers with Saudi Oil products. And the American Government LOVES to protect KSA because of their Democracy, Freedom, Liberty, and 'Capitalism'.

Anyway, I'm going off Topic here, I'm trying to find a Solution to a Obvious Problem. I don't know what it is. The Food Lines and the Stock Market going up at the same time makes me wonder if 'We are all in this Together'?
 
Hoosier Daddy said:
incredibly would be those making over 4 million a year being taxed at 50% on everything over 4 million a year. and higher marginal rates for those making over 400K a year up to 4 million.

i would think if these tax increases, and on incredibly profitable corporations after a certain minimum, could be determined by the CBO to add a certain amount of extra revenue each year to the feds, after we start paying down the huge debt, those tax cuts could be matched by tax cuts for the middle class and working poor, which would drive the economy much more than tax cuts for the rich ever could.
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Ok so half of what someone makes over 4 mil would be taxed at 50%..And what would the rate be for between 400k and 4 mil? And how about below that? Would half of americans still not pay federal income tax in this system?

JFK said, "Lower rates of taxation will stimulate economic activity to yield an increased, not a reduced flow of revenues to the federal government". What are your thoughts?
 
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