I think it's more like 75% that don't pay taxes. And most of them work for a living.
Yes, everyone should pay their fair share, and most want to.
It's pretty sad when the government needs to subsidize the workforce because wages are so low.
The real beneficiaries of welfare are the corporations! It allows them to keep wages low, while their slave laborers just barely get food on the table, and no one is paying for it as the debt grows.
Why not just pay a fair wage, everyone pays into the system so we can have highways and airports and such, and have genuine demand from a consumer with disposable income?
Australia, Koala country. A socialist democracy. People there have more disposable income.
People in countries like that still have to work to live decent. Some start businesses, in fact with a lot less head aches than it is to do so here.
The electronics mfg. company I used to work for moved all the work from the plant I worked in, to Montreal Canada.(2003). Reason given: less expensive there. Health insurance costs, (not even wages) was the driving factor.
Yeah, but they are "socialist", which is the word that scares you.
The interstate system of the USA was built using "socialism", by a Republican president, Dwight Eisnehower.
The tax rate for the wealthy was huge under this president, and the middle class ponied up as well. The investment made was well worth it.
Can you imagine, not having the interstate?
Increasing your expense may mean less profit per transaction.
But, you could have infinitely more transactions due to more people with more disposable income.
Ray Krock made less than a penny per sale of profit....that didn't stop him from making a fortune.
Not only that, but there's an offsetting factor: health insurance.
Bottom line may actually be better, increase in tax, but elimination of health insurance.
Of course I'll make a profit. People will have more disposable income. Sanders isn't all about increasing welfare, he's about the working class.
The idea of employees owning part of the company they work for is a concept that J Paul Getty popularized many years ago, and was embraced by conservatives.
Today's business is all about starving out the workforce because they only see their bottom line on paper.
They wonder why they must borrow at zirp, buy their own shares, and sell them to create the illusion that they are earning huge profits.
For the past few years, this is how they've made up for lack of demand.
Historically, the best periods of economic growth occurs when the income of the workforce has grown hand in hand with business growth.
The economy needs a healthy consumer base, it isn't rocket science.
I have a sister living in Australia, she's been there for years. Her husband owns a business. She's a teacher.
They do very well.
Over there, top tax is something like 40%. Over here, you pay your tax rate, but medical costs and health insurance, if counted as tax, can be as high as 80% for some people, mostly hard working middle class.
If he wins I'll open a business. The advantages will be huge. If I hire anyone, they'll be paid well and I won't have to fart around with insurance, it'll be paid by tax. Good enough.
Why not open one now? Lack of demand.
A means of exchange, a citizens dividend so to speak, could work. It's on the table in some countries already.
There will have to be some rules, such as a person that breaks the law at the felon or criminal level, would lose their dividend. Drunk driving type offenses would probably carry a temporary loss of the income. More serious crimes would lead to permanent loss.
People who don't have jobs could be required to choose volunteer work....helping disabled or elderly people, attend educational programs, volunteer to help clean the town or city they live in, or start a business. 20 hours a week of doing something, anything productive would be a sensible minimum.
At any rate, there should be a sharp drop in the crime rate.
I think it's a "put up or shut up" proposition for the banks.
It's a necessary step as we head into the age of automation.
Right now, we are all living in the past. The reality is, that automation technology already exists to the extent that 50% of all jobs could be eliminated tomorrow, finger snap done.
We have a monetary system that places a certain value on labor, but labor isn't that valuable anymore. New values need to be explored, and a new monetary system will need to evolve to facilitate trade.
There will be plenty for all of us to do, but in the future, things can be so much better for all of us, if we take the right steps now, to prepare for what is on the horizon.
Like it or not, socialism has been part of our system since the WWII era.
Some things just work easier when we all pitch in....like infrastructure for example.
Having the right elements of socialism benefits capitalism, a good example would be the interstate system we have, thanks to Eisenhower.
There was no reason for a sustained rally this week, but we got one.
Oil probably bottomed out at below 26.
I haven't gone long yet, watching. Trading the short side sure was fine.
Don't say the word "Zoso", whatever you do.
He'll screw your credit, faz your job, mess up your love life, if you have any......yeah, it is all about the demons.
That's great, but what if he's right?
Negative interest rates mean that the leeches (money changers, bankers) will HAVE to invest in society and boost productivity, or pay to leave the currency (means of exchange) to stagnate.
We will see...
A problem with the monetary system doesn't have to mean the end of the world. Money is simply a device to facilitate trade, a means of exchange.
We've entered a new era, one of automation. Labor no longer has the value it once did. But in an age where consumers are strapped for cash, the consumer CONSUMING becomes an extreme value.
A new system will enable consumption, and profits, and no need for a minimum wage. Higher interest rates for savings will be mandatory.
Good weekend thread. Had that Def Leppard hysteria on serial back when it was new...LOL
Lately it's "She's so cold" by the Stones....something about that baseline that starts the song and continues throughout, it's adictive.