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Very Hot Topic (More than 25 Replies) We are half way there ... but still so far away (Read 1,561 times)
TowardLiberty
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Re: We are half way there ... but still so far away
Reply #10 - Nov 30th, 2019 at 12:00pm
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Wadsworth wrote on Nov 30th, 2019 at 11:58am:
Grin Grin Grin Grin Grin Grin
I have a bridge to sell you

But no response to the discussion!
  

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"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Wadsworth
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Re: We are half way there ... but still so far away
Reply #11 - Nov 30th, 2019 at 12:03pm
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TowardLiberty wrote on Nov 30th, 2019 at 11:49am:
We're talking about a wealth tax which is almost 4X greater than *anything* we have had in history. We're talking about removing trillions from the economy.

There's no way that won't impact the demand for labor and aggregate demand in general.

Further, even those high 91% marginal rates were not effective rates, and occurred in a time when the US experienced rapid economic growth because of Europe's loss of productive capacity.


You can continue to tell tails with no validity but the fact is that the 91% marginal rate did not affect the economy.  BTW, a wealth tax will not take money out of the economy, in fact it will boost the economy.  Rich people keeping their money to themselves does not boost the economy
  

The most ridiculous statement ever from Lomelis
Lomelis wrote on Nov 8th, 2019 at 3:03am:
This is why people need to turn against the gov in general.  Only going to get worse.
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TowardLiberty
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Re: We are half way there ... but still so far away
Reply #12 - Nov 30th, 2019 at 12:07pm
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Wadsworth wrote on Nov 30th, 2019 at 12:03pm:
You can continue to tell tails with no validity but the fact is that the 91% marginal rate did not affect the economy.  BTW, a wealth tax will not take money out of the economy, in fact it will boost the economy.  Rich people keeping their money to themselves does not boost the economy

Tall tales? I see empirical evidence for the historical failure of a wealth tax in Europe. And I notice you don't seem to want to discuss that "tall tale"!  Wink

Further, the idea that taking money out of the economy would be a boost is silly. You're just cracking jokes now.

If that were true, recessions and depressions would be boom times.
« Last Edit: Nov 30th, 2019 at 12:21pm by TowardLiberty »  

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"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Wadsworth
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Re: We are half way there ... but still so far away
Reply #13 - Nov 30th, 2019 at 12:08pm
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TowardLiberty wrote on Nov 30th, 2019 at 12:00pm:
But no response to the discussion!

No response to you telling me you are among the 1%, no.
  

The most ridiculous statement ever from Lomelis
Lomelis wrote on Nov 8th, 2019 at 3:03am:
This is why people need to turn against the gov in general.  Only going to get worse.
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TowardLiberty
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Re: We are half way there ... but still so far away
Reply #14 - Nov 30th, 2019 at 12:09pm
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Wadsworth wrote on Nov 30th, 2019 at 12:08pm:
No response to you telling me you are among the 1%, no.

Well, it is true. We're both part of the global 1%.

But that's not the important part of my post.

The important part of my post surrounds the historical and repeated failures of wealth taxes in Europe- failures you won't acknowledge or explain.
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Wadsworth
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Re: We are half way there ... but still so far away
Reply #15 - Nov 30th, 2019 at 12:10pm
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TowardLiberty wrote on Nov 30th, 2019 at 12:07pm:
Tall tales? I see empirical evidence for the historical failure of a wealth tax in Europe. And I notice you don't seem to want to discuss that!  Wink

Further, the idea that taking money out of the economy would be a boost is silly. You're just cracking jokes now.

If that were true, recessions and depressions would be boom times.

There was no failure in the marginal tax in the 50's.  We are not Europe.  Quote:
The wealth tax will hit the rich people, however even after it they’ll still be rich. They won’t change their expenses because of it, so it doesn’t affect the economy in a negative way. The middle and lower class will change their expenses as they now got more money to spend. That will boost the economy.

Bernie Sanders
  

The most ridiculous statement ever from Lomelis
Lomelis wrote on Nov 8th, 2019 at 3:03am:
This is why people need to turn against the gov in general.  Only going to get worse.
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TowardLiberty
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Re: We are half way there ... but still so far away
Reply #16 - Nov 30th, 2019 at 12:11pm
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Wadsworth wrote on Nov 30th, 2019 at 12:10pm:
There was no failure in the marginal tax in the 50's.  We are not Europe. 

There was no wealth tax in the 1950s.

Wealth taxes failing in Europe will be mirrored by them failing everywhere else they are tried, including the US.
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Wadsworth
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Re: We are half way there ... but still so far away
Reply #17 - Nov 30th, 2019 at 12:12pm
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TowardLiberty wrote on Nov 30th, 2019 at 12:11pm:
There was no wealth tax in the 1950s.

Wealth taxes failing in Europe will be mirrored by them failing everywhere else they are tried, including the US.

But you are also against an increase in the marginal tax...Neither will destroy the economy
  

The most ridiculous statement ever from Lomelis
Lomelis wrote on Nov 8th, 2019 at 3:03am:
This is why people need to turn against the gov in general.  Only going to get worse.
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TowardLiberty
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Re: We are half way there ... but still so far away
Reply #18 - Nov 30th, 2019 at 12:16pm
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Wadsworth wrote on Nov 30th, 2019 at 12:12pm:
But you are also against an increase in the marginal tax...Neither will destroy the economy

Perhaps neither would "destroy" the economy but both would definitely harm it, one much more than the other.

That is unless you have a global war planned... Grin
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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TowardLiberty
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Re: We are half way there ... but still so far away
Reply #19 - Nov 30th, 2019 at 12:23pm
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Quote:
The wealth tax will hit the rich people, however even after it they’ll still be rich. They won’t change their expenses because of it, so it doesn’t affect the economy in a negative way. The middle and lower class will change their expenses as they now got more money to spend. That will boost the economy. - Bernie Sanders


I can't imagine a more economically illiterate argument to make: "Trust me" people won't change their expenses in response to a change in their wealth or assets.

^ That's what irrational faith looks like. It's also what science denial looks like.
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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