Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

A lower tax "rate" doesn't mean they paid less. The rich are paying more than their fair share, the poor are paying nothing

Wrong, again. My guess is you think federal income tax is the only tax.

https://itep.org/whopays/

Quote

The nationwide average effective state and local tax rate is 11.4 percent for the lowest-income 20 percent of individuals and families.

No, I think he means that a millionaire that pays X percent in tax pays a lot more in actual dollars then someone with, say, a 40 000 dollar a year income does if he pays the same percentage.

Yeah he's trying to pull numbers in absolute unadjusted USD which should be a capital offense on this forum.

Yes, pointing out that rich people actually pays a lot more real money in tax than poor people is just bad.

2020 Q4 top 1% own $38.61T bottom 50% own $2.49T, so top 1% own 15 times more wealth than bottom 50%
https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#range:2005.4,2020.4;quarter:125;series:Net%20worth;demographic:networth;population:1,3,5,7;units:levels

That kinda makes that statement rhetorical, outside of multi universe and quantum uncertainty, it's physically impossible for poor and middle class that own less wealth to somehow be able to pay more than ultra rich. In other news, water is liquid.

So what? you seem to be of the opinion that that's bad.

At this point a blind can see that this trend is not sustainable, i'm of the opinion that we have a runaway indicator. People that want to see this trend continue are the same ones that act dumbfounded when next students/occupy wall st/BLM civil unrest happens. Why are those plebs are not happy with their ever shrinking share of wealth, i tried showing them youngins (with college degrees still living with their parents because they can't afford to live on their own) rolling's statistics that show that they're better off in absolute dollars but they just ignored me and continued to sharpen their pitchforks. I'd rather not have to live in enclaves and hire private army to protect myself from them. Soviets provided cheap stimulus (vodka) to control their plebs, we can provide opioids but would need to take away their healthcare first.