Capitalism is NOT Democratic: Democracy is NOT Capitalist

[dblack]

The wealthy are the ones who are getting the most out of the system, so then why should they not be paying the most into the system?

It doesn't matter. "From each according to his ability" doesn't work. People won't put up with it.

Think of it this way - what if, instead of playing games with the tax code, we just limited their income in some other way (salary caps or whatever)? Let's say we decided doctors were making too much money and capped their income. Do you think that would affect the number and quality of people pursuing a career in medicine? Of course it would - we can argue over how much, but it would definitely negatively impact the supply of doctors.

So, more generally, if we target people according to their ability, it will have a negative impact. Many of the people with ability to spare will refuse to cooperate. They'll move, cheat, hide their economic activities - or just drop out and refuse to contribute. Not all of them, certainly, but enough to have a serious impact on our economy and quality of life.

 

[struth]

State toll roads are an awful and regressive idea in my opinion.
It is not like people WANT to use them, but have to because housing is too expensive near their job.
People should pay based on ability to pay, not how much they are forced to use that aspect of the infrastructure.

yeah

Come on, you have to start reading better than that.
I was very clear in explaining that even if they are in a 40% tax bracket normally, when they pay themselves in stock options, then they do not pay 40% tax on that profit, but instead only pay the 15 or 20% capital gains rate instead.
They can hide ALL their salary and profits under these low taxed stock options.
You and I do not have the ability to pay ourselves in stock options.
You have to be on the board of directors or high up, to be able to do that.

With the 1031 exchange, the point is you have used up most of your accelerated depreciation, but by exchanging with another landlord for property of equal value, you get to start over again with full tax depreciation allowance, without having to pay back the previous depreciation you already claimed.
Normally you have to pay back what you hid with depreciation when you sell. But not with a 1031 exchange. Your previous depreciation disappears and you get to start over.

When I was poor, I was still always paying a lot of taxes, because my rent included property tax, I could not itemize, etc.
Something like 15 or 20%.
As I made more money, my tax rate increased up to 35% or so, but then I was able to start doing things to decrease my tax burden, like buying rental properties, with lots of write offs.
My tax burden dropped back down to 15 to 20% or less.
Now that I have retired, I pay no taxes, even though I have a good income from rentals and SS.

well actually you pay nothing, since stock is just nothing until it's actually sold. Once it's sold, IF, and only IF, it's gone up in value do you pay Cap Gains.

It's actually a interesting way to pay because it gives those folks an incentative to ensure the business does well, and the stock goes up, moreover, it gives people a piece of actual ownership in the company.

 

[georgephillip]

What the hell is "excess wage?"

"This paper reviews the economic policy debate on the issue how much the prevailing compensation practices in large international banks contributed to the financial instability and how this area should be regulated to prevent similar financial crisis in the future. We show that these issues have little to do with the prevailing banking business mode..."

 

[georgephillip]

Progs are opposed to free speech, moron. They call it "hate speech." They believe people shouldn't be allowed to publish "racist" speech or the leftwing received wisdom on climate change or Covid.

Progs are opposed to racist crackers trying to push the next Lost Cause onto a majority of Americans. Anyone sufficiently stupid to doubt Covid's or the climate crisis's penchant to kill isn't worth reading.

 

[bripat9643]

"This paper reviews the economic policy debate on the issue how much the prevailing compensation practices in large international banks contributed to the financial instability and how this area should be regulated to prevent similar financial crisis in the future. We show that these issues have little to do with the prevailing banking business mode..."

Apparently you couldn't answer the question.

The last thing we need is government deciding how much bankers get paid.

 

[bripat9643]

Progs are opposed to racist crackers trying to push the next Lost Cause onto a majority of Americans. Anyone sufficiently stupid to doubt Covid's or the climate crisis's penchant to kill isn't worth reading.

Thanks for admitting that you are opposed to free speech.

BTW, "cracker" is a racist term.

 

[georgephillip]

That wasn't capitalism's decision. It was a Democrat decision.

All Democrats are Capitalists.

 

[Captain Caveman]

https://projects.iq.harvard.edu/fil...-_is_capitalism_compatible_with_democracy.pdf

"Capitalism and democracy follow different logics: unequally distributed property rights on the one hand, equal civic and political rights on the other; profit oriented trade within capitalism in contrast to the search for the common good within democracy; debate, compromise and majority decision-making within democratic politics versus hierarchical decision-making by managers and capital owners.

"Capitalism is not democratic, democracy not capitalist.

"During the first postwar decades, tensions between the two were moderated through the socio-political embedding of capitalism by an interventionist tax and welfare state.

"Yet, the financialization of capitalism since the 1980s has broken the precarious capitalist-democratic compromise."

Reagan's tax cuts facilitated low interest rates and financial bubbles to promote US financial expansion by making real estate speculation and junk-bond corporate takeovers effectively exempt from income taxation.

This set in motion a chain-reaction of asset price inflation that is still polarizing this economy today.

The primary mode of accumulation has become financial, enabling investment bankers to replace government planners.

So democracy is having a vote so you can vote for a representative to represent you in government, and you think capitalism stops this?

Could you explain this stupidity? I can only assume you haven't a clue what democracy means.

 

[bripat9643]

All Democrats are Capitalists.

They are all communists. The Democrat party platform is indistinguishable from the Communist party platform.

 

[dblack]

All Democrats are Capitalists.

All humans are mammals.

 

[dblack]

So democracy is having a vote so you can vote for a representative to represent you in government, and you think capitalism stops this?

Could you explain this stupidity? I can only assume you haven't a clue what democracy means.

The kind of democracy george advocates is unlimited majority rule. It's not about representation. It's about getting what you want out of others through force.

 

[georgephillip]

So democracy is having a vote so you can vote for a representative to represent you in government, and you think capitalism stops this?

I know capitalism concentrates more and more wealth into fewer and fewer hands with each passing generation.

Perhaps you are ignorant about how that gives a small minority of wealthy US voters undue political influence?

"In the early years of the United States, Thomas Jefferson fought bitterly with Alexander Hamilton over the structure of the U.S. financial system.

"Jefferson feared that without proper checks and balances, an aristocratic financial class would wield a disproportionate amount of influence in government and thus erode popular democracy."

Wealth and Democracy: A Political History of the American Rich

 

[dblack]

"Jefferson feared that without proper checks and balances, an aristocratic financial class would wield a disproportionate amount of influence in government and thus erode popular democracy."

Sorry. Jefferson would have destroyed you. Go back to quoting Groucho.

 

[Captain Caveman]

I know capitalism concentrates more and more wealth into fewer and fewer hands with each passing generation.

Perhaps you are ignorant about how that gives a small minority of wealthy US voters undue political influence?

"In the early years of the United States, Thomas Jefferson fought bitterly with Alexander Hamilton over the structure of the U.S. financial system.

"Jefferson feared that without proper checks and balances, an aristocratic financial class would wield a disproportionate amount of influence in government and thus erode popular democracy."

Wealth and Democracy: A Political History of the American Rich

One moment you're on about democracy, now you switch topic to capitalism ??

 

[Flash]

Socialism is the goddamn collective taking away the Liberties of individuals.

It may be democratic but it is oppressive.

Democracy can be just as oppressive as any other form of totalitarian government.

 

[danielpalos]

Socialism is the goddamn collective taking away the Liberties of individuals.

It may be democratic but it is oppressive.

Democracy can be just as oppressive as any other form of totalitarian government.

However, did you reach that conclusion? Socialism is about equality.

The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.

 

[dblack]

However, did you reach that conclusion? Socialism is about equality.

Yes. Socialism strips everyone of their rights equally.

 

[struth]

However, did you reach that conclusion? Socialism is about equality.

The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.

people equal…in their poverty and slavery to the state

 

[bripat9643]

However, did you reach that conclusion? Socialism is about equality.

The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.

That's equality before the law, not the equality of results that socialist have on their agenda

Equality isn't freedom, turd brain.

 

[danielpalos]

Yes. Socialism strips everyone of their rights equally.

Like this: The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States.