Quote from: marcus_of_augustus on Today at 07:09:45 AM

Quote from: DaRude on Today at 05:16:04 AM

Quote from: marcus_of_augustus on Today at 04:40:30 AM

Quote from: DaRude on Today at 02:35:53 AM

Well full title is "Biden to propose capital gains tax of 39.6% to fund education and child care, reports say". So your question is how Biden lovers here can love him when he proposes to raise taxes on top 0.3% of millionaires to fund education and child care?

... mmm, why can't you just think of the children!!!???

... the original income tax Act that was bought in at same time as the Federal Reserve Act was specifically for only the very highest income earners and politicians swore black and blue it would only ever be a tax for the very richest .... today everybody pays income taxes.

... this thing has got legs because the actual power behind Biden is not the wealthy elite but the powerful statists inside government that had him installed in a fraudulent election they signed off on. Police States do weird and wonderful things, the roller coaster has reached the top of the climb, it gets freaky from here on out as we freewheel into full governmental insanity.

So the argument against the tax that'd benefit lower 99.7% by making top 0.3% of population (which constantly sees its wealth increase disproportionally to the rest) pay higher tax is that it's a gateway ~~drug~~ tax? First them then everyone else?

Quote

In 1978, the top 0.1% owned about 7% of the nation’s wealth. In 2019, the latest year of data available, they own nearly 20%.

https://www.theguardian.com/commentisfree/2021/mar/29/rich-poor-gap-wealth-inequality-bernie-sanders

Guessing currently it's probably around 25% after this stellar year of ATH markets during the pandemic. I pick my battles and i got better things to do than standing up for the top 0.3%

If you don't see the issue with current distribution of wealth, is there a point at which you believe it would become an issue? Would you be fine with top 0.1% owning 30% of all of the wealth? 50%? But i'm glad to know that when i'm ready to withdraw millions in cap gains/yr that there'll always be a lot of poor (to me) people helping me protect my gains against their own best interests. Just hope that by then i won't have to drive in armored vehicle with armed guards between my gated community and my yacht club.

... no you dense muppet, everyone can see the issue with the vast disparity of wealth distribution but there is zero evidence that more and more taxes and wasteful government spending does anything to alleviate it.

in fact, the stats you posted show that things have gotten worse since 1970, a time of increasing taxes and spending ... misdiagnosing the issue and prescribing the same dumb things that haven't worked in the past will in all probabilities make things worse ... but I mean you can't even see what the stats that you posted imply, you seem to be so blinded by the tax and spend ideology

...we should all know on this forum of all places that the wealth distribution problems are due to inflationary, elastic money supply, and have nothing, or very little, to do with taxing rates and wasteful government spending ... you are just falling for the statist FUD and obfuscation if you think all the economic disparities and problems in society are somehow divorced from a radically mismanaged monetary regime ... the rich are getting richer because the monetary supply is expanding, it's as simple as that.

... more taxes can never fix what command and control money supply has broken

Pretty sure there's a ton of evidence, you're just too dense to see it, look at Europe Scandinavia in particular. Of course overall excessive tax causes other issues (look at France), but claiming that taxation can't regulate disparity is a pretty dumb argument. Don't believe i said anything about wasteful government spending, sounds like i struck a nerve there? Perhaps that's what making you defend lower taxes for ultra rich?

Quote

in fact, the stats you posted show that things have gotten worse since 1970, a time of increasing taxes

huh? well this is just a blatant lie, highest tax brackets only been reduced since the 70s and surprisingly ultra high net worth individuals only gotten disproportionally richer since then. Who could've imagined that people who's sole job is to make more money were good at making money. Put a hedge fund manager who only has one goal in life in a 20% bracket and a college professor in a 30% and then act surprised when there's huge disparity???