War on The Rich: Dumbest Idea in History of Man

[MikeK]

When one thinks about the post" war on the rich" one must say to themselves "where is there a war on the rich"? They have it made here like no other country in the world and they have all the money in the world to protect their fortunes. So the whole thread topic is a façade. There is no such thing as a war on the rich.

This "war on the rich" nonsense is a device originated by the super rich and disseminated by such paid, multi-millionaire propagandists as Rush Limbaugh, Sean Hannity, et al. The targets of this propaganda are the receptive tories and politically ignorant tools of the neo-Conservative right wing, mainly those who are relatively young, who earn minimal incomes, and thus vigorously oppose what is improperly called the "Social Security tax."

This category is easily brainwashed by those who promise to put them on the road to prosperity -- even though these same neo-Conservatives have since the early 1980s been methodically transforming the American democracy into a de-facto plutocracy one step at a time while the evidence is right before their eyes.

 

[MikeK]

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat currency is the material manifestation of fiat wealth. If you have a problem understanding that, how much of the cash in your pocket (and your bank account) is not fiat money?

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

 

[Boss]

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat currency is the material manifestation of fiat wealth. If you have a problem understanding that, how much of the cash in your pocket (and your bank account) is not fiat money?

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

Fiat currency is not fiat wealth. There is only one wealth. I have a problem understanding anything else because you lack an ability to explain it. Fiat currency is when the Fed prints new currency which isn't backed by anything. aka: Quantitative Easing. This has nothing to do with "wealth" other than to make it worth less by devaluing the dollar.

None of the cash in your pocket is money, fiat or otherwise. It is all Federal Reserve Notes. Wealth is something entirely different and it IS infinite. Humans create wealth through labor, invention, ideas, talents, trade and commerce.

 

[Boss]

When one thinks about the post" war on the rich" one must say to themselves "where is there a war on the rich"? They have it made here like no other country in the world and they have all the money in the world to protect their fortunes. So the whole thread topic is a façade. There is no such thing as a war on the rich.

This "war on the rich" nonsense is a device originated by the super rich and disseminated by such paid, multi-millionaire propagandists as Rush Limbaugh, Sean Hannity, et al. The targets of this propaganda are the receptive tories and politically ignorant tools of the neo-Conservative right wing, mainly those who are relatively young, who earn minimal incomes, and thus vigorously oppose what is improperly called the "Social Security tax."

This category is easily brainwashed by those who promise to put them on the road to prosperity -- even though these same neo-Conservatives have since the early 1980s been methodically transforming the American democracy into a de-facto plutocracy one step at a time while the evidence is right before their eyes.

Let's get something straight about the 1980s... It is the starting point of the longest period of economic prosperity in American history. Reagan dramatically cut the top marginal income tax rates which created an epic boon of cash flow into the economy from the private sector. Unlike any stimulus that has ever been attempted because it was done through the capitalist system and not by simply printing up some more fiat currency or borrowing from China.

You see.... It's when you STOP waging war on "the rich" and encourage them to spend their wealth that we see results. The economy prospers, more jobs are created, more wealth is created through more jobs.

 

[zeke]

Boss, you been celebrating all night? I have. We got us another tax cut coming, don't ya think?
AND we will be able to pollute a bit more without having to deal with those dicks at the EPA. Do you think we will be able to get rid of the EPA and the CDC? I do.

Then there is the Keystone pipeline. I don't know how much money you will make off that but Ima gonna make another fortune. If we could just get rid of the unions in the oil business, profits would soar. Maybe we will.

And our investments in the health care industry. When Obamacare is repealed I think our holdings in those health care companies will skyrocket. Numbers of insured may drop somewhat but the ability to raise premiums will not be hindered.

I could go on about all our benefits but I don't want to make the middle class folks on here to jealous and mad.

Yea boss, it was a good election day for us. Almost like Christmas. We gonna be richer than ever. How long you think before we get all the pie?

 

[zeke]

You see.... It's when you STOP waging war on "the rich" and encourage them to spend their wealth that we see results. The economy prospers, more jobs are created, more wealth is created through more jobs.

You tell'em boss. Stop waging war on us. We got money to spend and burn. We WILL make everybody prosperous. Just quit attacking us.

 

[Boss]

Wow at the butt hurt today!

 

[RKMBrown]

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat currency is the material manifestation of fiat wealth. If you have a problem understanding that, how much of the cash in your pocket (and your bank account) is not fiat money?

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

Define real wealth, then explain to me how that is "finite."

 

[RKMBrown]

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat currency is the material manifestation of fiat wealth. If you have a problem understanding that, how much of the cash in your pocket (and your bank account) is not fiat money?

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

Fiat currency is not fiat wealth. There is only one wealth. I have a problem understanding anything else because you lack an ability to explain it. Fiat currency is when the Fed prints new currency which isn't backed by anything. aka: Quantitative Easing. This has nothing to do with "wealth" other than to make it worth less by devaluing the dollar.

None of the cash in your pocket is money, fiat or otherwise. It is all Federal Reserve Notes. Wealth is something entirely different and it IS infinite. Humans create wealth through labor, invention, ideas, talents, trade and commerce.

I think he's trying to explain that there is, currently, a disconnect between currency and tangible assets. And to that extent is would be correct, but unfortunately he appears to be one of those people that think the pie of resources are finite. This is based on the liberal meme that the rich are taking to much of the pie.

 

[MikeK]

Let's get something straight about the 1980s... It is the starting point of the longest period of economic prosperity in American history. Reagan dramatically cut the top marginal income tax rates which created an epic boon of cash flow into the economy from the private sector. Unlike any stimulus that has ever been attempted because it was done through the capitalist system and not by simply printing up some more fiat currency or borrowing from China.
[...]

(Excerpt)

. . . But Reagan was not the man conservatives claim he was. This image of Reagan as a conservative superhero is myth, created to unite the various factions of the right behind a common leader. In reality, Reagan was no conservative ideologue or flawless commander-in-chief. Reagan regularly strayed from conservative dogma — he raised taxes eleven times as president while tripling the deficit — and he often ended up on the wrong side of history, like when he vetoed an Anti-Apartheid bill.

ThinkProgress has compiled a list of the top 10 things conservatives rarely mention when talking about President Reagan:

1. Reagan was a serial tax raiser. As governor of California, Reagan “signed into law the largest tax increase in the history of any state up till then.” Meanwhile, state spending nearly doubled. As president, Reagan “raised taxes in seven of his eight years in office,” including four times in just two years. As former GOP Senator Alan Simpson, who called Reagan “a dear friend,” told NPR, “Ronald Reagan raised taxes 11 times in his administration — I was there.” “Reagan was never afraid to raise taxes,” said historian Douglas Brinkley, who edited Reagan’s memoir. Reagan the anti-tax zealot is “false mythology,” Brinkley said.

2. Reagan nearly tripled the federal budget deficit. During the Reagan years, the debt increased to nearly $3 trillion, “roughly three times as much as the first 80 years of the century had done altogether.” Reagan enacted a major tax cut his first year in office and government revenue dropped off precipitously. Despite the conservative myth that tax cuts somehow increase revenue, the government went deeper into debt and Reagan had to raise taxes just a year after he enacted his tax cut. Despite ten more tax hikes on everything from gasoline to corporate income, Reagan was never able to get the deficit under control.

3. Unemployment soared after Reagan’s 1981 tax cuts. Unemployment jumped to 10.8 percent after Reagan enacted his much-touted tax cut, and it took years for the rate to get back down to its previous level. Meanwhile, income inequality exploded. Despite the myth that Reagan presided over an era of unmatched economic boom for all Americans, Reagan disproportionately taxed the poor and middle class, but the economic growth of the 1980's did little help them. “Since 1980, median household income has risen only 30 percent, adjusted for inflation, while average incomes at the top have tripled or quadrupled,” the New York Times’ David Leonhardt noted
.
4. Reagan grew the size of the federal government tremendously. Reagan promised “to move boldly, decisively, and quickly to control the runaway growth of federal spending,” but federal spending “ballooned” under Reagan. He bailed out Social Security in 1983 after attempting to privatize it, and set up a progressive taxation system to keep it funded into the future. He promised to cut government agencies like the Department of Energy and Education but ended up adding one of the largest — the Department of Veterans’ Affairs, which today has a budget of nearly $90 billion and close to 300,000 employees. He also hiked defense spending by over $100 billion a year to a level not seen since the height of the Vietnam war.

More: 10 Things Conservatives Don t Want You To Know About Ronald Reagan ThinkProgress

(Close)

 

[Boss]

. . . But Reagan was not the man conservatives claim he was...Wahhh waaahhh waaaaaa! Boo hooo hoooooo.... Waahhh hahhh haahhh! sniffle-sniffle... boo hoo hoo... wahhhh!

FACT: Longest period of economic prosperity in US History!

 

[MikeK]

. . . But Reagan was not the man conservatives claim he was...Wahhh waaahhh waaaaaa! Boo hooo hoooooo.... Waahhh hahhh haahhh! sniffle-sniffle... boo hoo hoo... wahhhh!

FACT: Longest period of economic prosperity in US History!

Truth: Longest period of economic prosperity in the U.S. were the decades from the 40s through the early 80s. That period ended when Reagan introduced supply side ("trickle down") economics. Ronald Reagan forced the U.S. into debt, which to the uninformed appeared as "prosperity."

But if you are more comfortable believing what Limbaugh and Hannity have imbedded in your brain it's perfectly okay with me. I am not inclined to pursue hopeless tasks. My response to your messages are for the benefit of those who might otherwise be swayed by your committed assurances.

My recommendation for those who remain undecided is to research the facts via Google.

 

[RKMBrown]

. . . But Reagan was not the man conservatives claim he was...Wahhh waaahhh waaaaaa! Boo hooo hoooooo.... Waahhh hahhh haahhh! sniffle-sniffle... boo hoo hoo... wahhhh!

FACT: Longest period of economic prosperity in US History!

Truth: Longest period of economic prosperity in the U.S. were the decades from the 40s through the early 80s. That period ended when Reagan introduced supply side ("trickle down") economics. Ronald Reagan forced the U.S. into debt, which to the uninformed appeared as "prosperity."

But if you are more comfortable believing what Limbaugh and Hannity have imbedded in your brain it's perfectly okay with me. I am not inclined to pursue hopeless tasks. My response to your messages are for the benefit of those who might otherwise be swayed by your committed assurances.

My recommendation for those who remain undecided is to research the facts via Google.

Yeah well this isn't the 40s-80s any more and the rest of the world isn't wasting their valuable resources on war like we are.

 

[MikeK]

Yeah well this isn't the 40s-80s any more

True.

and the rest of the world isn't wasting their valuable resources on war like we are.

True.


Also true:

"The U.S. Has The Worst Income Inequality In The Developed World, Thanks To Wall Street.

The U.S. Has The Worst Income Inequality In The Developed World Thanks To Wall Street Study

 

[Boss]

Yeah well this isn't the 40s-80s any more

True.

and the rest of the world isn't wasting their valuable resources on war like we are.

True.


Also true:

"The U.S. Has The Worst Income Inequality In The Developed World, Thanks To Wall Street.

The U.S. Has The Worst Income Inequality In The Developed World Thanks To Wall Street Study

U.S. Has The Worst Income Inequality In The Developed World, Thanks To Wall Street.

Yes, goddammit... it's all these sons of bitches becoming millionaires and billionaires! If we could just STOP people from becoming wealthy, we'd have income equality for all! Let's close down that stinkin' Wall Street!

~MORONS!

 

[Boss]

. . . But Reagan was not the man conservatives claim he was...Wahhh waaahhh waaaaaa! Boo hooo hoooooo.... Waahhh hahhh haahhh! sniffle-sniffle... boo hoo hoo... wahhhh!

FACT: Longest period of economic prosperity in US History!

Truth: Longest period of economic prosperity in the U.S. were the decades from the 40s through the early 80s. That period ended when Reagan introduced supply side ("trickle down") economics. Ronald Reagan forced the U.S. into debt, which to the uninformed appeared as "prosperity."

But if you are more comfortable believing what Limbaugh and Hannity have imbedded in your brain it's perfectly okay with me. I am not inclined to pursue hopeless tasks. My response to your messages are for the benefit of those who might otherwise be swayed by your committed assurances.

My recommendation for those who remain undecided is to research the facts via Google.

Yes... IF you just fell off a turnip truck and have no clue what Marxist socialism is... by all means, go to Google and research the "facts" as espoused by any number of left-wing radical whackos who have flooded the Internet with their blogs-o-stupidity! Listen to all the propaganda from morons who reject free market capitalism and soon enough, you'll be marching in lockstep.. attending protest rallies... shitting on cop cars!

FYI... I was a fiscal conservative helping to elect Ronald Reagan to the presidency while Hannity and Limbaugh were cutting their teeth as local DJs.

 

[MikeK]

U.S. Has The Worst Income Inequality In The Developed World, Thanks To Wall Street.

Yes, goddammit... it's all these sons of bitches becoming millionaires and billionaires! If we could just STOP people from becoming wealthy, we'd have income equality for all! Let's close down that stinkin' Wall Street!

~MORONS!

There is wealth and there is excessive wealth. If you would acknowledge this reality and incorporate it into your observations and arguments I believe we could reach an accord on certain issues.

As I've already said; there always have been rich people, just as there always have been poor people. But there never has been the kind of massive hoarding of excessive wealth as we are seeing today, and the problem is it is provably proportional with the stagnation of working class wages and the rise in impoverishment.

 

[Boss]

U.S. Has The Worst Income Inequality In The Developed World, Thanks To Wall Street.

Yes, goddammit... it's all these sons of bitches becoming millionaires and billionaires! If we could just STOP people from becoming wealthy, we'd have income equality for all! Let's close down that stinkin' Wall Street!

~MORONS!

There is wealth and there is excessive wealth. If you would acknowledge this reality and incorporate it into your observations and arguments I believe we could reach an accord on certain issues.

As I've already said; there always have been rich people, just as there always have been poor people. But there never has been the kind of massive hoarding of excessive wealth as we are seeing today, and the problem is it is provably proportional with the stagnation of working class wages and the rise in impoverishment.

Again... there is only wealth. The caveat you are applying is "excessive" and that denotes your personal opinion of what you arbitrarily believe to be "too much" of something. You don't get to tell me how much wealth I can have. You're not the fucking dictator or king in a 19th century dynasty. In a free market capitalist system, I can have as much wealth as I desire to have. It's not limited by YOU or what YOU think is enough. I get to decide that, not YOU!

The amount of wealth a given individual has, doesn't have a goddamn thing to do with "working class wages!" That thinking denotes a complete ignorance of the fact that wealth is not finite, that we create wealth, and we here in America, with a free market capitalist system, create more wealth than any other system ever devised by man. But IF you had your way, no one would EVER become a millionaire! Every working American would be chained to whatever job they had at whatever pay they got, and would be thankful that they had that much. THAT is the system you want! THAT is what you want to replace free market capitalism with.

 

[georgephillip]

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat wealth is infinite.

There's no such thing as "fiat" wealth, there is just wealth.

There is "fiat" currency, and some people in political power have found ways to get wealthy using it... but that is a corruption and ethics problem. The Federal Reserve should be audited.

Fiat currency is the material manifestation of fiat wealth. If you have a problem understanding that, how much of the cash in your pocket (and your bank account) is not fiat money?

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

Fiat money is fiat wealth. And fiat wealth is infinite. Real wealth is not.

If fiat currency is a form of indirect wealth transfer from those forced to hold the money to those issuing the money, then the financial parasites can borrow billion$ at near-zero interest from the Fed to buy up student loans paying 7+% annually, essentially consigning millions of debtors to a lifetime of debt servitude.
Tax Debt Wage and Fiat Slavery How the Elites Extract Wealth from the People Global Research

 

[MikeK]

[...]

But IF you had your way, no one would EVER become a millionaire! Every working American would be chained to whatever job they had at whatever pay they got, and would be thankful that they had that much. THAT is the system you want! THAT is what you want to replace free market capitalism with.

Your perceptions are distorted by what seems to be a flammable hostility when some deeply embedded ideas you have are challenged.

As I've already stated, I would like to see a twenty million dollar limit imposed on personal assets, yet you insist I oppose anyone becoming a millionaire. Twenty million dollars is more money than the vast majority of Americans can hope to acquire. It exists as a motivation for anyone to aspire to and to seek wealth and It interferes with your wish to dismiss me as a communist.

I have no problem with the garden variety millionaires who have always inhabited the American landscape. Provided they have achieved their success honestly and without harming others I feel they are entitled to enjoy it. So please adjust your sights because you are way off the mark.

And what gave you the impression I would like every American to be chained to whatever job they have at whatever pay they got and be happy with it? Whatever distorted process brought that impression about I assure you it is false and it plainly demonstrates a tendency to fabricate according to what you wish to believe.