What a disgusting shithole america has become.
this post was submitted on 09 Apr 2024
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Become? They call it the American dream because you gotta be asleep to believe it.
I miss George
The American Dream has morphed into this "anyone can be rich" idea.
When I was a kid, it was a house and two cars.
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It's only going to get worse. Money buys elections and Putin, along with American oligarchs have a lot to spend on getting their desired results.
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Yet it remains one of the happiest countries in the world. I'm not saying we don't have our problems, because we clearly do, but the idea that the country is a "shit hole" is just baseless nonsense.
Top 23 isnt what I would call "Happiest country in the world" Especially not for the worlds most powerful nation. So yeah, shit hole applies
Edit: For perspective, theres 190+- countries depending on whos counting, The most powerful Country on this planet doesnt even enter the top 10% of countries with the happiest citizens. At 190, the states is in the top 12%
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More needs to be said about taxing the wealthy. 70% for every dollar over 10 million. Wealth tax for those hoarding wealth in stocks.
Fuck 70. It was 91 after WWII.
I read somewhere that that was literally only for a single person. But the fact that taxes were used to aggressively trying to curb wealth hoarding is something we need to look at today
You are way too generous.
Some own islands, land, mansions, art, bonds, cars, boats.
Not generous, but not thorough. Don’t ask me to write the bill!
The New Bad Deal.
Rich get richer and everyone gets fucked on their taxes while dealing with crazy high inflation.
Thanks GOP! YOU GUYS REALLY KNOW HOW TO GOVERN
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It’s not like these billionaires are spending this money, so it’s just been invested for 7 years. What’s the old adage, Rule of 72? Given a 10% rate of return, they would be expected to double their money in…
…seven years.
While the tax policies certainly aren’t helping the majority of the population, let’s not pretend compound interest isn’t a thing.
It's not as if that makes it any better. Tax policy should be designed to actively combat the inequality increase created by compound interest, not go along with it.
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And yet poor people keep voting for him, thinking that the used car ~~salesman~~ clown will make them rich
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Till we close the loop holes for these billionaire foundations buying elections (i.e. the Koch network) - billionaires will continue to tip the scales their way. Courts also need to be 10 year appointments, not life time.
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What we need is a controlling asset tax, 99.9% tax on the value of assets controlled beyond $100m
0.1% of a billion dollars is still 10m. Since we're on track to see our first trillionaires soon, I'd argue we need a 100% tax bracket as well. 0.1% of a trillion is 10 billion.
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How likely is it that the trump tax giveaway was all about FUNDING the Fascist takeover of America ? Because they wouldn't have had the money otherwise
It's not just billionaires. If you put any amount of money into the S&P500 in Jan 1 2017, it would be worth more than twice as much today.
But is it really fair that a person with 50 million can turn that into 100 million, whereas most people can turn at most $5,000 into $10,000?
Earning $5,000 over 7 years is basically worthless.
The median 40 year old has retirement savings of $45K, not $5K. And the median 70 year old has savings of $200K. In both groups, doubling the amount is quite significant.
Using median makes it a loaded statistic skewed in favor of the minority (in this case, the wealthy).
Over half the country is living paycheck-to-paycheck, so that median number is already in the 'well-off' category by default, making them irrelevant to the main point of discussion.
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But what for? Even with the toys of millionaires (yachts, villas), over a few 100 millions it's only a number.
They don’t just buy toys. They buy laws, politicians, service, deference, control, luxury, immunity…
When you have that much money everything is for sale and people will kiss your ass to sell it to you.
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Why hasn’t Biden done anything about the Tax Cuts and Jobs Act?
Dems had house majority when he started and he could have tried to push changes through like Trump did.
Because he isn't a dictator.
Yeah but what has Biden done about the heat death of the universe? I'm just saying, the man is the President.
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Congress is more in charge of taxes and budgets, not the president. However, it would seem Democrats in general want to use this for the upcoming elections (along with nearly everything they promised last election).
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