Imagine what the proposed(but unlikely) tax plan would do to the NBA.

It won't pass so why bother?

[QUOTE=bullettooth]You give people a minimum income and products/services will just go up in price. The rich still win.[/QUOTE]Not an economist, but wouldn't adjusting minimum wage with inflation hurt in the short-term but help in the long-term?

[QUOTE=bullettooth]You give people a minimum income and products/services will just go up in price. The rich still win.[/QUOTE]

Will they though? Companies still have to compete. I'm not talking about a minimum wage. Couldn't prices actually fall if employers pay their employees less?

I would like to know what would really happen. I'm not an economist.

I'm pretty sure programs like medicare prevent drug companies from price gouging. There would have to be some regulation.

[QUOTE=RoseCity07]Will they though? Companies still have to compete. I'm not talking about a minimum wage. Couldn't prices actually fall if employers pay their employees less?

I would like to know what would really happen. I'm not an economist.

I'm pretty sure programs like medicare prevent drug companies from price gouging. There would have to be some regulation.[/QUOTE]It depends on which industries, goods, and services that you're talking about. In theory, it would happen in an unregulated market unless a monopoly was in place(then they could do w/e the f*** they want).

Medicare and price controls are super complicated as well, it depends on millions of factors.

[QUOTE=RoseCity07]Will they though? Companies still have to compete. I'm not talking about a minimum wage. Couldn't prices actually fall if employers pay their employees less?

I would like to know what would really happen. I'm not an economist.

I'm pretty sure programs like medicare prevent drug companies from price gouging. There would have to be some regulation.[/QUOTE]

Small shops would get hurt badly. Mom and pop shops don't have so much extra cash to be able to afford such a drastic change in paying their employees extra. Most people that have small businesses are middle class with modest incomes and modest means. It's not like just because you're a business owner you're well off.

[QUOTE=SomeBlackDude]kinda weird how working joes stan for oligarchs these days.

like you can ask a dude working at wal-mart or some factory making $9/hr why he doesn't have healthcare and he'll say 'cuz sochulizm bad'.

but say hey, maybe the owners/ceos of your company who are making like $50 mil per year should be taxed more and that same dude will march to dc to burn the whole place down.

[IMG]https://media.giphy.com/media/sIlHfE2wu1xFS/giphy.gif[/IMG]

[B][SIZE="4"]"taxation is theft!"[/SIZE][/B]

like why are you crying tears for a dude who makes in a year what like 10-20 generations of your family has/will? :wtf:

kyle lowry's gonna be alright. maybe he might have to cut back to 3 mansions instead of 5, maybe sell one of his yachts, but he's gonna be alright. trust that.[/QUOTE]


You really can

NBA owners would move the teams and their other businesses.

It boggles my mind how many ppl think more government is the solution to all of our problems. Anyone who has been to a dmv or even experienced public education will tell you how terrible the government is at providing services to it's citizens. The ppl running these programs arent held accountable for efficiency and simply think that throwing more money at a problem will fix everything.

Socialists like aoc are cowards. They propose this 70% tax on the rich because they dont have the guts to tax everyone 50% like the nordic countries. I'll be more comfortable paying higher taxes when these parasites become more transparent with how they spend. I'll be more comfortable when these politicians are held to the same standard as a company executive.

[QUOTE=Tainted Sword]It boggles my mind how many ppl think more government is the solution to all of our problems. Anyone who has been to a dmv or even experienced public education will tell you how terrible the government is at providing services to it's citizens. The ppl running these programs arent held accountable for efficiency and simply think that throwing more money at a problem will fix everything.

Socialists like aoc are cowards. They propose this 70% tax on the rich because they dont have the guts to tax everyone 50% like the nordic countries. I'll be more comfortable paying higher taxes when these parasites become more transparent with how they spend. I'll be more comfortable when these politicians are held to the same standard as a company executive.[/QUOTE]

Norway isn't a country of idiots though. The tax money the government gets isn't pissed away.

It's a marginal tax. It would be 70% on every dollar AFTER $10M

Also, redistributionist taxes have been in place, in America, in the past. We are in the lowest tax era of the last 100 years by a huge margin.

Regardless, income tax isn't how the really rich make their money. Capital gains is. Capital gains is the money you make when you sell and asset for a profit. It's taxed way lower than income.

This means someone who doesn't work, but owns stocks or other assets for a living is taxed at a lower rate than someone who works. There should be a cap gains tax for over $500k annually, so as not to impact any retirees who are living off 401(k) type accounts.

I used to be certified to sell securities and financial planning.

[QUOTE=Kblaze8855]You really can’t get your mind around the concept that some people don’t think they deserve other peoples money when they didn’t earn it?[/QUOTE]

People making hundreds of millions of dollars didn't earn it either. They benefited from a system where the folks who own assets are entitled to the excess value of everyone's labor.

Athletes are a tiny percent of the very rich. Most do not get rich from working. Most wealth is inherited or comes from capital appreciation and profit (money you get because you own the resources).


Athletes, actors, musicians, and reality/social media stars are emphasized in our media in order to obscure the true nature of the extremely wealthy in our country

We are trusting the same ppl who have us 21 trillion dollars in debt to spend this money?

I keep hearing this rhetoric about the 70% only kicking in after 10 million, as if that somehow justifies the theft.

[QUOTE=ralph_i_el]It's a marginal tax. It would be 70% on every dollar AFTER $10M

Also, redistributionist taxes have been in place, in America, in the past. We are in the lowest tax era of the last 100 years by a huge margin.

Regardless, income tax isn't how the really rich make their money. Capital gains is. Capital gains is the money you make when you sell and asset for a profit. It's taxed way lower than income.

This means someone who doesn't work, but owns stocks or other assets for a living is taxed at a lower rate than someone who works. There should be a cap gains tax for over $500k annually, so as not to impact any retirees who are living off 401(k) type accounts.

I used to be certified to sell securities and financial planning.[/QUOTE]

A lot more deductions and loopholes were in place back then which was the justification for bringing it down so low during the Reagan era. Nobody actually paid that tax rate. The tax revenue as a percentage of GDP is from 18-20% no matter the tax rate since the 50s.

And to act like people today can't buy things at a much lower price and higher value than the 50s is absurd.

[QUOTE=ralph_i_el]People making hundreds of millions of dollars didn't earn it either. They benefited from a system where the folks who own assets are entitled to the excess value of everyone's labor.

Athletes are a tiny percent of the very rich. Most do not get rich from working. Most wealth is inherited or comes from capital appreciation and profit (money you get because you own the resources).


Athletes, actors, musicians, and reality/social media stars are emphasized in our media in order to obscure the true nature of the extremely wealthy in our country[/QUOTE]

Without someone owning those assets, the labor wouldn't exist though. Most people were working at some point before they decided to become a businessman and take a risk (aka owning resources for example). People who own resources create things that people want (and then provide it to them) not simply because they own it. It's a win-win for everybody.

[QUOTE=Kblaze8855]You really can’t get your mind around the concept that some people don’t think they deserve other peoples money when they didn’t earn it?[/QUOTE]

Who said anything about deserving other people's money? Why are you parroting a conservatard canard that the rich paying more tax = wealth redistribution?

Unless you were old enough to be in the top tax bracket before 1981, you probably had no clue that 70% was what they paid at that time. Back then, the rich actually had to pay for the government that they own and operate.

Every Republican elected to office since 1980 has been working tirelessly to grow the wealth inequality gap back to the Hoover era. Massive deficit spending is great for them. Massive debt means that the government has to print more money to pay off the interest, which = inflation. Who do you think inflation affects more?

Rich people won't suddenly decide to stop doing whatever made them rich just because their taxes went up. One of the biggest problems we have going forward is that the rich can afford to fund think tanks that publish literature to misinform all the stupid people (hello Heritage Foundation).

Trump passes a tax cut that gives most middle class earners 40-50 extra bucks/month and expires in 6-7 more years while it remains permanent for corporations and will add 2.3 trillion more to the debt over the next 10 years. How many people do you think understand that this is essentially passing on debt to future generations while making the rich richer?

GE pays no taxes. Walmart gets subsidized to the tune of 6+ billion a year because they don't pay a living wage and the taxpayers have to foot the bill for housing aid and food stamps for their employees. "Wealth redistribution" is happening, but not in the way that your typical RW Faux-News-viewing simpleton believes.