Bring back tax rates of 90% again for the obscenely rich - it was that way up until the late 1900s. Back when the US actually funded things that benefit most people not just tax breaks for already rich people.
this post was submitted on 07 Apr 2024
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Not even caring about the specific number:
- why do tax brackets end at about the 5%? Basically wealthy and ultra-wealthy pay same rate as upper middle. We need more steps
- why are there so many non-salary sources of wealth with lower tax rates, when only the wealthy can take advantage?
The bottom half of r tax system is reasonably progressive, so why not the top?
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I would really like this to be true. At least in my country the younger population (e.g. under 25s) is moving extreme-right instead of anti-capitalism. The amount of Andrew Tate fans that apparently do not even oppose human trafficking is insane.
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I'm nearly fifty, now. Why am I disillusioned by capitalism? Because the illusion is thin and flimsy. I really hope the disillusionment of millennials isn't just because they don't have a good enough retirement plan, or anything else that can be easily fixed. I hope that they are waking up to realize that giving unelected, unaccountable, private owners of capital control over the production and distribution of goods, services, and information, is an extremist, antidemocratic idea, that is driving the global climate crisis, and the slide toward fascism.
I love this comment. You put into words what I've been trying to convey to others. Thank you.
I believe that all concentrations of power are potentially dangerous because you never know into what hands that concentration of power is being put. Too often it's concentrated in the hands of those personality types of the dark triad: narcissists, machiavellians, psychopaths. Those people should never have any authority or control over any human beings, and they should be prohibited from being in powewful positions. They are far too dangerous, and I believe that most of our world problems derive from these personality types.
Holy shit even their mental health claims about others is projection, I’m absolutely screaming on the rooftops.
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One good step could be, heritage tax and affordable housing, believe me with these two people under 40 will do better.
UBI would be a fucking godsend for WAY more people than anyone is willing to admit at this point. It’s insane. It’s an absolutely trivial solution to wealth inequality. But of course, the wealthy don’t want to surrender the wealth they’ve accumulated and are just bogarting from the rest of us. Gilded age v2.0.
As an aside, the French have successfully dealt with such situations in the past.
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"Fink was refreshingly blunt that it’s not hard to figure out why millennials and Gen Z workers are economically anxious. “They believe my generation — the Baby Boomers — have focused on their own financial well-being to the detriment of who comes next. And in the case of retirement, they’re right,” he said."
Yes!
"While Fink correctly identified a key problem, his proposed solution wasn’t to bring back pension plans. It was a new BlackRock product that helps people better manage their retirement spending. In other words, it’s a way for BlackRock to likely make more money."
No.
Fink correctly identified a key problem, his proposed solution wasn’t to bring back pension plans. It was a new BlackRock product that helps people better manage their retirement spending.
You motherfucker.
The advice for a "managing" a 401(k) is to just put money into it and ignore it- there's literally no managing required. The problem is this was never good enough and you god damn parasitic leeches want to take even that pittance away.
This is basically the current stage of capitalism. If by the end by some miracle you accrued some wealth, they'll make sure to grab it so there's no inheritance left.
Sell your house and buy into a retirement community, then a retirement home, and after that poke and prod you in a hospital for months on end to extend your life for a few weeks.
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This is the best summary I could come up with:
Many rushed to tell me how generous their pay raises have been, how easy it is to go from an entry-level job to management at their company, and how they have diversified their workforce.
Millennials have had such a tumultuous start in the workforce, they have been nicknamed the “unluckiest generation.” They are struggling to navigate the most unaffordable housing market since the early 1980s.
While Fink correctly identified a key problem, his proposed solution wasn’t to bring back pension plans.
It’s a shame that Fink didn’t use his bullhorn to call on business and political leaders to shore up Social Security.
What executives don’t like to talk about is that while pay has increased a lot in the rebound from the pandemic, corporate profits have soared even more.
The share of the economic pie that goes to worker pay remains well below historic norms, as even Goldman Sachs has pointed out.
The original article contains 775 words, the summary contains 152 words. Saved 80%. I'm a bot and I'm open source!