The 2020 Presidential Election - Convention & General Election

[Redux]

1 hour ago, DevoHusker said:

 

I haven't made up my mind on the redistribution issue...but one question that no one seems to answer: who decides how much is "too much"?

 

If you have some that the government wants, you have too much.  There are needy politicians that will only have a few million to retire on without our contributions, think of them and give back.

[DevoHusker]

41 minutes ago, Landlord said:

 

 

I'm not sure, but I think someone who's wealth is 25,000x more than a very livable wage is a reasonable place to start.

 

Here in the Midwest, $50,000 a year is a very livable wage. Under your calculations of a good place to start, that would equal an income of $1,250,000,000 ($1.25 billion). How many individuals in the US have that kind of personal income?...none that I can find. 

 

In 2018 only 205 individuals earned over $50 million, while 938 made between $20-50 million (including guys like Lebron James, Mike Trout and Clayton Kershaw). So about 1200 people made more than $20 million a year, out of approximately 130 million people who were employed in the US. In other words, .0000092 of the American workforce...

 

I for one, don't think that is a viable place to start, which means that the bar will be lowered, then lowered again....etc. So, again...

where does it stop?

 

https://www.marketwatch.com/story/heres-how-many-people-make-more-than-50-million-per-year-in-wages-2018-10-18

[Redux]

21 minutes ago, BlitzFirst said:

 he hasn't changed his tune at all..been saying it since the early 80s

 

Maybe that's his problem

[BigRedBuster]

31 minutes ago, BlitzFirst said:

 

No, that's not what is being taxed.  Think of it this way.

 

A large corporation is not equivalent to the CEO and if it's public is divested through shares for ownership.  A private corporation STILL has shares privately that are often pushed through employee owned options.

 

No one is trying to tax business owners unless your business allows you to take home a wage as a PERSON (like if you were the owner/CEO and had no other expenses for your business and it wasn't a LLC or other entity) over 32 million dollars.

 

So, I'm not sure why you think Bernie is trying to tax any and all businesses.

No...you're wrong.  I'm NOT SAYING HE IS TAXING THE BUSINESS.  He's taxing my OWNERSHIP of the business.  I have never said once in this thread that Bernie is taxing the business.

 

Bernie has said over and over again, he doesn't think there should be any billionaires.  His own plan says that it will decrease their net worth by half in 15 years.  

If I own a business and it's worth 1 billion dollars.  THAT MEANS he thinks that's bad and his goal is to cut my ownership of that in half.  

I don't know how you can not see this in his plan.  

[BigRedBuster]

People need to understand that Bernie is not talking about taxing INCOME.  He's talking about taxing NET WORTH.

 

They are two very different things.

[BigRedBuster]

@BlitzFirst  Let me use this to explain it to you.

 

Jeff Bezos's net worth is around 111 billion dollars.  I found an article that claims after his divorce, his stake in Amazon is 106 billion.

 

So, if Bernie accomplishes what he wants with Jeff Bezos, he will force him to sell enough to cut that in half.

OR....I guess since he doesn't believe there should be any billionaires, Bezos should be required (by the government) to sell over 105 billion dollars of the stock.

 

To get down below one billion he would probably need to sell Washpo also.

 

That's loony tune land there.

[sho]

22 minutes ago, BigRedBuster said:

@BlitzFirst  Let me ask you this to explain it to you.

 

Jeff Bezos's net worth is around 111 billion dollars.  I found an article that claims after his divorce, his stake in Amazon is 106 billion.

 

So, if Bernie accomplishes what he wants with Jeff Bezos, he will force him to sell enough to cut that in half.

OR....I guess since he doesn't believe there should be any billionaires, Bezos should be required (by the government) to sell over 105 billion dollars of the stock.

 

To get down below one billion he would probably need to sell Washpo also.

 

That's loony tune land there.

 

Or to play devil's advocate in this scenario, maybe Bezos should pay his employees more and take a bit of a pay cut so his net worth is only say 900 million.   Be like this guy, where starting wage at his company is $70K:

 

https://www.cnn.com/2019/09/25/business/gravity-increases-employee-minimum-salary-to-70k-trnd/index.html

 

Quote

He then made the decision to increase the salaries for all of his 120 employees in Seattle, raising the minimum salary to $70,000 -- and slashing his $1 million salary by 90% in order to make it happen.

The move doubled the pay of about 30 of his workers and gave an additional 40 significant raises.

Price says the higher wages have transformed the lives of his employees. They have been able to grow their families, more than 10% of employees have purchased a house for the first time and individual 401(k) contributions have more than doubled.

 

It doesn't say it in this article, but other articles about him say that the move actually generated more revenue and customers for him.  He actually cut his pay to 0 for a bit, during a lawsuit with his brother, and is now starting to take salary again.

 

 

[BigRedBuster]

6 minutes ago, sho said:

Or to play devil's advocate in this scenario, maybe Bezos should pay his employees more and take a bit of a pay cut so his net worth is only say 900 million.   Be like this guy, where starting wage at his company is $70K:

 

You do realize that net worth is not income....right?

I can't argue against your idea.  But, that's not what we are talking about here.

[Landlord]

2 hours ago, DevoHusker said:

 

Here in the Midwest, $50,000 a year is a very livable wage. Under your calculations of a good place to start, that would equal an income of $1,250,000,000 ($1.25 billion). How many individuals in the US have that kind of personal income?...none that I can find. 

 

In 2018 only 205 individuals earned over $50 million, while 938 made between $20-50 million (including guys like Lebron James, Mike Trout and Clayton Kershaw). So about 1200 people made more than $20 million a year, out of approximately 130 million people who were employed in the US. In other words, .0000092 of the American workforce...

 

I for one, don't think that is a viable place to start, which means that the bar will be lowered, then lowered again....etc. So, again...

where does it stop?

 

https://www.marketwatch.com/story/heres-how-many-people-make-more-than-50-million-per-year-in-wages-2018-10-18

 

I said people with net worth* of over 25,000x a livable income. I didn't say people with a personal income of over a billion dollars a year.

[BigRedBuster]

So, we are to a point in America where the government is going to set limits on how much someone can be worth financially. 

 

So, if I all of a sudden come into a big income and I start buying up farm and ranch land, I’m going to hit a limit that the president sets that says....you own too much, you are required to sell some and pay that to the government. 

 

Im not allowed to own over an arbitrary amount. 

 

[Landlord]

I'm conditioned to feel uncomfortable and scared of such a reality, but why? 

 

 

What good reason is there for any person to be able to have more wealth than 100,000 other people? I imagine there's a decent chance that a better future will look back on something like that as being pretty sick and depraved.

[teachercd]

1 hour ago, Landlord said:

I'm conditioned to feel uncomfortable and scared of such a reality, but why? 

 

 

What good reason is there for any person to be able to have more wealth than 100,000 other people? I imagine there's a decent chance that a better future will look back on something like that as being pretty sick and depraved.

Ummmmmm, what?

[teachercd]

1 hour ago, BigRedBuster said:

So, we are to a point in America where the government is going to set limits on how much someone can be worth financially. 

 

So, if I all of a sudden come into a big income and I start buying up farm and ranch land, I’m going to hit a limit that the president sets that says....you own too much, you are required to sell some and pay that to the government. 

 

Im not allowed to own over an arbitrary amount. 

 

Amen...it is so sick that some people want to say how much people can earn.

 

Wasn't the inventor of Ring pretty much a working class dude for the most part and now is a billionaire?  

 

So now he should be penalized?

 

Here is an idea to all the "He makes too much money" crowd...stop worrying about how much other people make and you go make money...and if you claim that you don't care about money...shut up and stop complaining.

 

Also...if any of you (not you BRB) are ashamed at how much you make, I will post my Venmo and you can send me amount of money that you are embarrassed of having.  Because I will be happy to take it.

[BigRedBuster]

14 minutes ago, BlitzFirst said:

 

If your business is an LLC, he can't touch the money in it...he'll tax YOU as an INDIVIDUAL.  That's what a wealth tax is.  Taxing people above 32 million 1 percent.

 

Really not much...it's a drop in the bucket.  And I doubt there are many businesses out there that pay an individual 32 million+ in a wage.

You really aren’t grasping this are you?  

 

Do you understand what makes up someone’s net worth? 

[Ratt Mhule]

6 hours ago, Redux said:

Trump appeals to blue collar workers and racists, Bernie appeals to those on welfare and making minimum wage part time jobs a career.  Boy the popular vote is important (sarcasm).  We should start charging $5 to vote on presidential ballots, that would pay for some of the outlandish salaries these term seats have managed to turn into lifetime gigs.

 

Im not on welfare or make minimum wage.  I make a good living and will be living very comfortable when I have a joint income with my fiancé.  But I am in healthcare and see how f#&%ed up it is.  So it doesn't just appeal to welfare or minimum wage.  And I don't trust Warren to do MFA.

 

Plus most of his donors are teachers.  Look I don't agree with every proposal from Sanders or anyone else.  But I do agree with his main ones and I believe he will be the only one to not back down from the fight.