What is Capitalism

[Luxman]

The best-case scenario will be a global recession, worst case is nuclear war.
It's time to start stockpiling supplies again. There are a lot of prepper and off-grid how-to videos on youtube.
Maybe build a greenhouse in your backyard or on your roof to grow stuff and sunbathe nude in the winter.
Get a dozen or more chickens for a daily supply of eggs, and maybe two or more goats for milk.
Solar cells and windmills for energy, and a battery bank to store energy for nighttime use.
And a few AR-15's to protect your property and family.

 

[gmase]

And, your opinion is the economy is fine because CEO's are getting paid more?

It is not my opinion, but I bet it is theirs. As we consider why prices are rising, we may want to consider the true sources.

The cost of transportation/shipping is at record highs, inflation is at a record high, supermarkets are reporting shortages (some severe), and government economists are going on record that we may likely be headed for a recession. My statement may have been a bit overzealous, but we are in a definite downturn, and not in a "sunshine and roses" era that you allude to. The question is, can we dig ourselves out of this mess?

Yes, history is our guide as we have done it before. Economic cycles are - by definition - cyclical. Recessions occur, then recoveries follow.

 

[Luxman]

Greed is the word that perfectly defines, describes, encapsulates, and predicts the history and future of most financial systems.

“Progress is cumulative in science and engineering, but cyclical in finance.”

How to prevent financial meltdowns, according to the Library of Mistakes
https://qz.com/2163887/how-to-avoid-financial-crises-according-to-the-library-of-mistakes/

 

[gmase]

Greed is the word that perfectly defines, describes, encapsulates, and predicts the history and future of most financial systems.

“Progress is cumulative in science and engineering, but cyclical in finance.”

How to prevent financial meltdowns, according to the Library of Mistakes
https://qz.com/2163887/how-to-avoid-financial-crises-according-to-the-library-of-mistakes/

Greed? I thought Biden was the cause.

 

[Luxman]

The dark legacy of this iconic Dodger stadium - May 17, 2021

 

[D-rock]

Greed is the word that perfectly defines, describes, encapsulates, and predicts the history and future of most financial systems.

Human nature can ruin any system, but also lets not fall under the false equivalence of thinking they are all equally corruptible or susceptible to greed. Capitalism is among the worse.

I'm often baffled as to why people are surprised a system that's designed to put greed and the pursuit of money above any and all other concerns...ends up putting greed and the pursuit of money above any and all other concerns.

It's like some people are surprised to find it's almost the entire basis of it's existence.

 

[Luxman]

The Richest Companies In The World - June 6, 2022

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Tesla's Insane New Phone Is A Game Changer (RIP Apple) - Dec 24, 2021

 

[Luxman]

How Norway Got Insanely Rich - Jul 5, 2022

 

[Luxman]

 

[Luxman]

Orwell's final warning - Picture of the future (1950)

 

[Luxman]

 

[Luxman]

Why You'll Never Buy A House | Honest Ads - Jul 29, 2022

 

[Luxman]

America's wealthiest, including Tom Brady, Khloe Kardashian, Reese Witherspoon, Kanye and Nancy Pelosi's husband took millions in PPP loans – and nearly all have been forgiven
https://www.dailymail.co.uk/news/ar...on-got-millions-PPP-loans-didnt-pay-back.html

It's payback time!!!

Households that make less than $100K per year should NOT pay taxes on their income.
Most of their income will still be spent on taxed goods, so rich aholes and the government will still get their cuts, and poorer people will have more money for food, rent, and a higher standard of living.
The interest on student loans should be 1% per year for STEM courses, and 5% for all other studies, to encourage people to get a higher education especially in STEM fields.
All loans from any business should have a maximum rate set by the government.
Credit cards, banks, "payday", etc. loans should have a max interest rate of 5% per year.
Corrupt banks and businesses bribe governments to maintain loan shark interest rates.
There are thousands of ways capitalist companies scam consumers.

 

[tvstrip]

@Luxman

I get your sentiment, but the "Get the mega-rich to pay more taxes" never works. Why? Because those are the guys that can afford the best tax lawyers/accountants who can legally (and semi-legally) reduce your taxes to practically nothing. Raising taxes means they'll be incentivized to find more ways to game the system.
Which means there will be a huge budget deficit because now you've just reduced taxes on the lower income, and just gave more incentive for the mega-rich to avoid paying their share.

Put another way:
If a rich person had the choice between paying $1 Million in taxes, or $1 Million in accountant/lawyer fees but paying no taxes, they'll always take the latter. Because not only can they write off the expenses, but they'll also have setup a framework to save them taxes in the future.

 

[VillellaMcMeans]

@Luxman

I get your sentiment, but the "Get the mega-rich to pay more taxes" never works. Why? Because those are the guys that can afford the best tax lawyers/accountants who can legally (and semi-legally) reduce your taxes to practically nothing. Raising taxes means they'll be incentivized to find more ways to game the system.
Which means there will be a huge budget deficit because now you've just reduced taxes on the lower income, and just gave more incentive for the mega-rich to avoid paying their share.

Put another way:
If a rich person had the choice between paying $1 Million in taxes, or $1 Million in accountant/lawyer fees but paying no taxes, they'll always take the latter. Because not only can they write off the expenses, but they'll also have setup a framework to save them taxes in the future.

That's why income tax is not an effective option to subsidize governments and it should be phased out in favour of other options such as consumption based taxation and less government spending altogether...using force to take money is wrong on many levels and governments should lead by example in finding better ways to afford their spending decisions.

 

[gmase]

Consumption taxes are generally regressive. Shifting the burden to lower-income taxpayers does not seem practical in my opinion.

As much as we all want governmental spending to go down, it will not. A return to Gilded Age economic policies is not feasible in any short- or medium-term scenario. As much as we all hate paying taxes, we derive the benefits of them every day. Social Security, Medicare and other old-age schemes are in many of our futures.

Some get the wrong end of the policies which is likely the crux of the different viewpoints.

 

[VillellaMcMeans]

Consumption taxes are generally regressive. Shifting the burden to lower-income taxpayers does not seem practical in my opinion.

As much as we all want governmental spending to go down, it will not. A return to Gilded Age economic policies is not feasible in any short- or medium-term scenario. As much as we all hate paying taxes, we derive the benefits of them every day. Social Security, Medicare and other old-age schemes are in many of our futures.

Some get the wrong end of the policies which is likely the crux of the different viewpoints.

People like you obviously don't want lower taxes...but to deceive others into believing that nothing can be done to lower taxes is just dishonest...

 

[D-rock]

Put a tax on total wealth for the very rich and the richest corporations then, and punish them harshly (like very lengthy prison sentences) if they hide any of it. I don't want lower taxes. I want people that are more able to bear the burden in this country to pay more to properly sustain the society they espeically when they are the biggest leaches off of it. While were at it we need to get almost all money out of politics so they can't buy off politicians.

Just shrugging and saying nothing can be done about the rich avoiding taxes is stupid. Having the poorer people of this country pay more to cover for that is equally stupid.

 

[tvstrip]

Put a tax on total wealth for the very rich and the richest corporations then,

So you're suggesting people be taxed on their wealth after they've paid income tax on it? Never going to fly because that's not what the tax system is designed to do.
Let's not forget, both dems and gop are backed by rich people. They're not going to back any changes like that.

 

[tvstrip]

Funny overall, but he makes a good point: In a post apocalyptical world where money has no value, how are the rich going to foster loyalty from those they hire to protect them?