Author Topic: Re: Klarman worried about political divide  (Read 14471 times)

MarkS

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Re: Klarman worried about political divide
« Reply #10 on: January 22, 2019, 09:35:49 AM »
"AOC has a degree in economics and her policies are pretty much the standard in the Western World (sans the USA).  What are you talking about?"

Taxing anything above $10 million at 70% rate is standard?

You are the one who should learn about what you are talking about!

Cardboard

I read a few days ago that 26 people essentially own 50% of the world's capital.

I think higher taxes on the uberrich would do quite a bit to help the income inequality that AOC is referencing when she talks about people working two jobs and still struggling to make ends meet. This is IMO due to wage stagnation:

http://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

You'll also note that any wage growth has gone to top earners.
http://www.pewresearch.org/wp-content/uploads/2018/08/FT_18.07.26_hourlyWage_increases.png

LC this isn't a gotcha question, seriously.  You imply that raising U.S. Taxes would help with world wealth inequality.   The 26 people that you're referring too are being compare to the world's poorest people - presumably in places like sub-saharan Africa among others.  Why is it our responsibility to fix global wealth inequality?


Cardboard

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Re: Klarman worried about political divide
« Reply #11 on: January 22, 2019, 09:46:08 AM »
"I think higher taxes on the uberrich would do quite a bit to help the income inequality that AOC is referencing when she talks about people working two jobs and still struggling to make ends meet. This is IMO due to wage stagnation:"

Of course you are in favour of that... It would not affect you. Is that how you think? Make others pay but, not me?

It would not affect me directly either however, I am sure it would affect me indirectly.

Taking more from the rich would not solve any of the problems: they would move out, find ways to not earn as much taxable income and some would just give up pushing for more.

All of this means a trend toward less overall wealth, less competitiveness, less innovation.

Where is the evidence for this? Throughout history.

It has happened in the U.K. where they failed miserably taxing top income at 98%.

It is happening today in the U.S. where we have full employment due in part to corporate tax rates that are finally competitive with the world.

Finally, you don't solve problems by handing out free money to people. You solve them by creating opportunities.

Cardboard

LC

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Re: Klarman worried about political divide
« Reply #12 on: January 22, 2019, 10:09:10 AM »
"AOC has a degree in economics and her policies are pretty much the standard in the Western World (sans the USA).  What are you talking about?"

Taxing anything above $10 million at 70% rate is standard?

You are the one who should learn about what you are talking about!

Cardboard

I read a few days ago that 26 people essentially own 50% of the world's capital.

I think higher taxes on the uberrich would do quite a bit to help the income inequality that AOC is referencing when she talks about people working two jobs and still struggling to make ends meet. This is IMO due to wage stagnation:

http://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

You'll also note that any wage growth has gone to top earners.
http://www.pewresearch.org/wp-content/uploads/2018/08/FT_18.07.26_hourlyWage_increases.png

LC this isn't a gotcha question, seriously.  You imply that raising U.S. Taxes would help with world wealth inequality.   The 26 people that you're referring too are being compare to the world's poorest people - presumably in places like sub-saharan Africa among others.  Why is it our responsibility to fix global wealth inequality?

I mean it on a global level, not just the US.

Logically, US taxes should address US income inequality.

One could also argue that the US has directly contributed to de-stabilization of certain regions (the middle east for example) and should therefore shoulder some responsibility in those regions as well. I'm sure there is room for disagreement over the strength of this argument (I'm generally on the side of, if we helped make the mess, we should help clean it up).
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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LC

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Re: Klarman worried about political divide
« Reply #13 on: January 22, 2019, 10:14:35 AM »
Of course you are in favour of that... It would not affect you. Is that how you think? Make others pay but, not me?
No Cardboard that is not how I think, the fact that you jump to that conclusion is evidence of your extreme bias and illogical though process.

Lesson? If you're going to ask loaded questions expect a loaded response.

Quote
Taking more from the rich would not solve any of the problems: they would move out, find ways to not earn as much taxable income and some would just give up pushing for more.
Tons of regions countries are doing just fine (and arguably better than the US) with more progressive tax schemes.

Quote
Finally, you don't solve problems by handing out free money to people. You solve them by creating opportunities.
Who said anything about handing out free money? Again your bias is showing.
« Last Edit: January 22, 2019, 10:34:38 AM by LC »
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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Gregmal

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Re: Klarman worried about political divide
« Reply #14 on: January 22, 2019, 10:27:49 AM »
Of course you are in favour of that... It would not affect you. Is that how you think? Make others pay but, not me?
/quote]
No Cardboard that is not how I think, the fact that you jump to that conclusion is evidence of your extreme bias and illogical though process.

Lesson? If you're going to ask loaded questions expect a loaded response.

Quote
Taking more from the rich would not solve any of the problems: they would move out, find ways to not earn as much taxable income and some would just give up pushing for more.
Tons of regions countries are doing just fine (and arguably better than the US) with more progressive tax schemes.

Quote
Finally, you don't solve problems by handing out free money to people. You solve them by creating opportunities.
Who said anything about handing out free money? Again your bias is showing.


Thats not how you claim to think, but that's the end result of what you suggest.... OK then.

And in regards to the bolded, holy shit. These games are just too much. You advocate a redistribute the wealth position. And then go "who said anything about handing out free money"... Seriously?

Cardboard

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Re: Klarman worried about political divide
« Reply #15 on: January 22, 2019, 10:28:21 AM »
I am expecting no less than idiocy from you LC!

Cardboard

LC

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Re: Klarman worried about political divide
« Reply #16 on: January 22, 2019, 10:30:24 AM »

Thats not how you claim to think, but that's the end result of what you suggest.... OK then.

And in regards to the bolded, holy shit. These games are just too much. You advocate a redistribute the wealth position. And then go "who said anything about handing out free money"... Seriously?
Is it free money to tax the 1% to pay workers to build your wall?

Is it free money to tax the 1% and reduce gov't debt?

Is it free money to tax the 1% and pay for better public schooling, so that future generations don't ask such silly questions? What we really need is intelligence redistribution (kidding!) ;D ;D
« Last Edit: January 22, 2019, 10:37:30 AM by LC »
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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LC

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Re: Klarman worried about political divide
« Reply #17 on: January 22, 2019, 10:31:59 AM »
I am expecting no less than idiocy from you LC!

Cardboard

Boring, soft, low energy post.
"Lethargy bordering on sloth remains the cornerstone of our investment style."
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Gregmal

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Re: Klarman worried about political divide
« Reply #18 on: January 22, 2019, 10:38:20 AM »
LC are you Octazio Cortez's boyfriend?

DTEJD1997

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Re: Klarman worried about political divide
« Reply #19 on: January 22, 2019, 10:38:30 AM »
Hey all:

I am a little concerned about the talk of "some people have too much".

As long as they didn't do anything illegal/highly unethical, what difference does it make to me (or anybody else) HOW much wealth they have?

Of course, the mega rich should pay their "fair" share of taxes...and maybe that should be a higher percentage than your nursing home CNA, fry-O-lator operator, or small business person.  HOWEVER, at rates approaching OR exceeding 50%, I've got a problem with that.  How is it ethical that the government gets/takes MORE of the money that YOU make?