World's 85 richest have same wealth as 3.5 BILLION poorest

[jem]

Personal income taxes barely pay for more than the interest on the debt right now. When interest rates return to normal levels, income taxes will just pay for the borrowing. so lets cut personal income taxes and stop paying interest on the loans. (it is america's sovereign right to create money without borrowing.) Borrowing and income taxes go together. both have gotten out of control. its time to end them.

Income taxes are just population control. The govt has many other revenues sources and could certain do some things like charge higher royalties for extraction from govt lands. Tariffs against countries who cheat on trades

Tariffs were bad when we were a big exporter but as a big importer they could raise revenue and promote strategic objectives.

Its time americans upgrade their thoughts to understand the economics of this century.

Income taxes are just population control.

The problem is not taxes. They are required. Without taxes, there will be no income for the government. Without income, how can the government provide/maintain the infrastructure that business need to be competitive? Also what about the maintaining a military for country defense. How is the government going to pay for that? A little forgotten fact is that a lot of the basic research and development are performed by the government. The result of that research is then used by private business to generate profit (like memory foam/ Tempurpedic). The hope is that business using those basic research will generate income which goes back to the government in form of income tax. Unfortunately, this is not the case. Multinational business have skewed the tax code so that they can offshore their income to an extent that they pay little or no income tax (some thing national and small business can't do). If we were to eliminate the tax loop holes for the super wealthy and the multinationals, we can reduce the taxes paid by the middle class and small business. It is unfortunate that the politicians have convinced US citizens that taxes are not required. Taxes are required. The real question is who is going to pay. The super rich or the middle class? Currently due to the influences of the super rich, the middle class is footing the burden while they enjoy the benefits provided by the government and their politicians.

 

[RichardRimes]

Income taxes are just population control.

Totally wrong...ever heard of EIC or Child tax credit?....government paying people for having children..............

 

[jem]

I have 4 kids. so yes.
but I do not see how confiscating different amounts from different people is still not stealing.

oh wait I get it. I did not mean control of the the numbers... I meant control of their lives.

I meant population control in the sense that devaluation, progressive income taxes and an inheritance tax turns everyone into debt, mortgage and tax slaves withing 2 generations or so... unless you make it into the top .05 to 01 percent.

Totally wrong...ever heard of EIC or Child tax credit?....government paying people for having children..............

 

[darwin666]

it doesnt matter..
. let 1 person have the wealth of 5 billion folks.. doesnt matter. funny thing is. that. i am beginning to question the 1 person 1 vote. it hardly makes sense. since we have powerful lobbies to protect the rich folks interest.. its all a hogwash. and who cares about the poor outside of the USA.. lets worry about ourselves and the 320 million who can vote in the USA.

 

[taipan77]

The problem is not taxes. They are required. Without taxes, there will be no income for the government. Without income, how can the government provide/maintain the infrastructure that business need to be competitive? Also what about the maintaining a military for country defense. How is the government going to pay for that? A little forgotten fact is that a lot of the basic research and development are performed by the government. The result of that research is then used by private business to generate profit (like memory foam/ Tempurpedic). The hope is that business using those basic research will generate income which goes back to the government in form of income tax. Unfortunately, this is not the case. Multinational business have skewed the tax code so that they can offshore their income to an extent that they pay little or no income tax (some thing national and small business can't do). If we were to eliminate the tax loop holes for the super wealthy and the multinationals, we can reduce the taxes paid by the middle class and small business. It is unfortunate that the politicians have convinced US citizens that taxes are not required. Taxes are required. The real question is who is going to pay. The super rich or the middle class? Currently due to the influences of the super rich, the middle class is footing the burden while they enjoy the benefits provided by the government and their politicians.

What people fail to realize is that the govt gives mismanaged tax revenue by giving it to people to stay home or to supplement their income if there not getting paid enough. In the form of section 8 and so forth. Instead of building infrastructure projects and more research. This scenario enables corporation to not pay a fair wage. Have you noticed that unions are dying and the reason for it is all the public subsidies. Back in jimmy Hoffa days there was no welfare and people would organizes, so they could feed their families.

Now who does that benefit? I would say the .oo1 percent.

 

[smallStops]

...

1 week after graduating from HS, I was kicked out of the house and damned near homeless. ....

That explains why you develop such a very hard look.
May I ask : why were you kicked out of the house? who kicked you out?

 

[Scataphagos]

That explains why you develop such a very hard look.
May I ask : why were you kicked out of the house? who kicked you out?

Hard look? I don't believe I do. However, I believe in the Constitution and the principles of the Founders. For the last 100 years America has been morphing towards our version of Communism, and it makes me sick.

My parents died when I was young. I then lived with aunts and uncles who considered the obligation to feed and clothe me to be a financial burden.

Getting kicked out didn't bother me all that much. My grandfather had life's common sense. He always told me, "The world doesn't owe you a living. Make something of yourself." That's how it really was for all in this country since the beginning of America and up until the Progressive cancer got started by greedy politicians. And now, we're there. Progressive, Communist, Liberal, Socialist... whatever label.... The DemoCraps long ago adopted the agenda and now have critical mass in the voting populace.

World financial history is full of this same story. The Founders tried to make sure it couldn't happen here with our 3 branches of government, each with limited powers... "Checks and Balances". But these principles were gradually eroded by greedy politicians' lust for power. And here we are today.

 

[smallStops]

I understand better how you develop this pattern of thinking.

So were dependent on other people than your own father and mother,
as they were no longer. Technically an orphan.
Their message were :
"the world does not owe you anything.
you want to eat, work"
... many year later...
to those in a bad, difficult situation ... ( just so you understand my point of
view laziness is more often than not a coping strategy...) your answer is
"the world does not owe you anything.
you want to eat, work".

Am I missing something?

 

[Scataphagos]

I understand better how you develop this pattern of thinking.

So were dependent on other people than your own father and mother,
as they were no longer. Technically an orphan.
Their message were :
"the world does not owe you anything.
you want to eat, work"
... many year later...
to those in a bad, difficult situation ... ( just so you understand my point of
view laziness is more often than not a coping strategy...) your answer is
"the world does not owe you anything.
you want to eat, work".

Am I missing something?

You got it about right.

I could write a thesis on this. And I'm not one to say, "don't lend a helping hand"... but I'm also not one to buy somebody a lifestyle (especially in exchange for their vote) with the taxes of other citizens. In a strict sense, most of our "social support" system is unconstitutional. And like some scumbag politico once said, "we do the illegal right away. The unconstitutional takes a little longer."

We're already quite far along the path leading to the destruction of America. One day the social support check will stop. All those supporting Odumbo and the DemoCraps are hastening and endorsing their own demise... and are too greedy, blind, and naive to see it.

(Have you ever wondered why America runs such deficits and has a $17T+ national debt? One reason only... POLITICAL GREED!)

 

[Sergio77]

Socialist nonsense considering that the wealth is mostly paper stock but they pay their millions of employees in hard cash.