/biz/ - Business & Finance

>>12579133
*all rich people move out of the US*
*economy implodes*
brilliant plan desu

Of course not - she means ‘redistribute’ as there is no ‘wealth creation’ by taking someone elses money.

That said, it’s still a good idea to claw back some of the wealth hoarded by the ultrarich, due almost entirely to regulatory capture and the 2008 bailout. It’s no coincidence that as the fed printed *trillions* of USD asset values rose to astonishing new heights while the underlying economy flatlined for workers.

>>12579133
The left is always so clueless, give a poor man a million dollars and he'll spend it on useless materialistic luxuries, racks up a heavy debt as result, give a rich man a dollar and he'll turn it into a million

>>12579133
They are thieves who create a boogeyman and promise the npc masses free stuff they have to take from boogeyman because thats morality.

>implying pocahontas would ever do that

she's part of the same elite. democratic system is absolutely rotten. things will never change. there is no political solution

I just want an affordable apartment
Cheap internet and no niggers

But the Jews have other plans

>>12579159
Where will they go? Somalia? Everywhere else either has even bigger taxes or shit living conditions. This argument is stupid.

>>12579133
Life is not zero sum. We have robots and automation now. In order to create 2x the number of cars, we only need a marginal cost of goods and to run the factories 2x longer.
There is no shortage we live in an age of abundance. These are lies so that the wealthy elite can rape our women and pilfer our lives, all the while feeling like 'I earned this'

>>12579133
>Rich leave because most flexibility in society
>Well what do we do now, I already allocated the funds before I collected a dime
>Guess its time to tax the middle class
And that's why there's only poor and rich people in communism.

>>12579196
Yeah you're right, no country on earth wants rich people living there.

Posting from a phone but I’ll try my best.

Yes, the wealth of the “rich” has unironically been siphoned from the poor, but not through the usual methods i.e. expropriation or the denial of opportunities. Rather the mechanism by which the rich benefit and the poor suffer is inflation, and particularly the extreme asset inflation that central banks around the world have engaged in since 2008 but actually for many years before that. Due to the Cantillion effect quantitative easing and inflation disproportionately benefits the wealthy since they are relatively closer to the printing press (through holdings in equities and other assets) than the poor (which generally have no assets), and is unironically the greatest scam and theft in the history of man. The worst part with this is that academia has managed to brainwash most people (Keynesian economics) that this is actually a good thing, and due to the common mans natural tendency to derive his conclusions about the world from “””trusted sources”””, no one really questions the existence of a central bank and whether such monetary centralisation is a good thing or not. This is really the most pressing problem facing the western world but literally no one is discussing it because the mechanism through which the rich siphon from the poor is hidden below many many layers of complexity and propaganda.

>>12579159
As long as they no longer get any revenue from their businesses in the US, I see nothing wrong with rich people leaving.
Someone else will take their place and they'll be happy to pay the tax.

>>12579133
Ultra rich are also ultra mobile. They can buy any citizenship just like that. This is just trying to get votes, it is impossible to make ultra wealthy pay wealth tax.

>>12579196
Very few country have wealth tax. So over 200 countries would be then better, and then there are maybe 20 real tax haven countries

>>12579133
fuck it, honestly I'm a livelong conservative but I'm sick of being poor.

>>12579256
Call me ignorant, but even if Elizabeth Warren and the Democrats manage to take $3,000,000,000,000 ($3T) from people they target over the next decade, I don't think they're going to just be handing it out to you friendo.

>>12579159
>literal domestic terrorists from third world shithole (USA) leave
>this would be bad
???

>>12579235
>non brainlet post
thanks anon

>>12579196
>monaco
>st kitts
>Switzerland
Comfy as fuck and either 0 or near 0 taxes

>>12579133
Do you have any idea how many people are employed on that yacht?

>>12579235
While this does play a part of it, the larger cause of wealth inequality is the system itself. When you have enough money that it makes you more money than the lower half of income earners, you will inevitably increase your wealth faster than them.

>>12579338
>wealth inequality
Is that a bad thing? Why should everyone having the same amount of wealth by something to strive for? Not saying you're claiming it is a bad thing, but "wealth inequality" seems to be something people mention a lot.

>>12579133
>is there really a closed set of wealth and the Ultra Rich have money because it was syphoned elsewhere

This is fixed-pie thinking and characteristic of envious socialists who can't stand someone being successful. I don't hate the rich so I don't care about what they buy

The increased wealth inequality in the US is a result of globalization and outsourcing. Stock holders and investors use to have shares of american companies that operated in the US, the workers of these companies used to have more leverage over the company. When neoliberalism started to take a hold in the 80s investors realized their profits could be much higher moving their production plants to third world countries to benefit for lower wages and costs. This had a double effect, first it made investors profits larger because their costs went down, and second it eliminated many jobs in the US that were well paid and gave the workers a lot of leverage.

You can bitch all you want about this but it's only natural, every economy that is becoming more developed will get rid of the low skilled jobs, american workers had decades to prepare for this by gaining more skills or save to invest in the companies moving overseas, if they didn't its no ones fault but themselves, nobody forced them to waste all their money and never save or invest.

tl;dr if you live in an economy rapidly developig start saving and investing in those growing companies because low skilled jobs WILL eventually leave

I don't give a shit if rich people leave. They cause all the problems in the first place. Let them leave and us poors can rebuild society anew. I'll even lead them, it shall be a revolution.

>>12579352
Wealth inequality by itself is fine, but have growing wealthy inequality (with no end in sight) is a problem because it results in more people having less of the wealth distribution.

>>12579362
If you want to know more about this read about the Heckscher-Ohlin theorem, it explains exactly why that happens.

>>12579356
>fixed-pie thinking
If it isn't a pie, why can't everyone have a mansion?
By your logic, it should be possible to have 0% poor people.

>>12579338
yeah that's exactly what is meant by "closer to to the printing press" but you're literally too dumb for simple metaphors. kys

>>12579394

>he thinks fixed pie = finite pie

R E T A R D
E
T
A
R
D

>>12579133
Does this bitch understand what a yacht or private jet is for? That they can take take it and go to the Bahamas instead of dealing with her shit?

>>12579243
>>12579318
So why haven't the rich already moved to these tax havens then

>>12579235
>muh inflation
Is the only thing that forces the rich to invest their money in enterprises like the ones that give you a job instead of hoarding it all. You are an idiot.

>>12579456
Because right now, the US hasn't gone full socialist yet. People like Warren are trying to make it happen, though, and the more power they achieve, the more "rich" will move away.

>>12579356

I don’t care either, but I do care when the rich get richer because of institutionalised robbery through central banking and quantitative easing. You’re right that the economy isn’t a zero-sum game, but that assumes that prices and valuations are reflective of real value and not distorted through the printing press. What QE does is readjusts the allocation of the pie to those who own assets, and while the pie grows through the little real growth we have the rich benefit disproportionately due to their holdings that they acquire using freshly printed money.

>>12579423
>doesn't explain reasoning
>doesn't address my questions

>>12579487

There should be no central bank or jewish interests in government 2bh

>>12579415
Closer to the printing press refers to how banks have first dibs on newly printed money through lending, so they experience less of a loss from inflation. Equities are not part of the metaphor, blow it out your ass faggot

>>12579469

You cannot seriously believe that buying equities on the market today is equivalent to investing in a company. You would be right if this actually happened but look at bond yields and you can already see what kind of priorities institutional money has. Hint: it’s not real growth, it’s to further the Ponzi scheme that is the modern equities market

>>12579171
does the millionaire do it by adding $999'999 from his other assets to the dollar you gave him?

>>12579133
Open a company selling $100m yachts and you’ll understand where ultra richs money is going.

>>12579507
You're describing systemic issues and a ponzi culture not inherent problems to inflationary policy.

>>12579502

You’re a retard if you believe in this. Yes, freshly printed money goes to lending, but QE was about buying assets that were about to go underwater due to how junk they were. Bond yields drop and institutional money heads to equities to get the returns they need, not to mention the highly leveraged positions that some funds take that is financed by surprise surprise enormous bank reserves that were inflated after 2008.

why do ultra rich buy stupid shit

100m for a fucking boat? with a theater? yeah because i desperately need to watch movies while im on a yacht'

these clowns have too much money, i unironically want to castrate anybody whos worth over a billion dollars. nobody deserves that kind of wealth. With 100m, i could bjuild 10 state of the art hospitals, or schools and classrooms - maybe then we can educate the future generations to not be so selfish

fuck this timeline and fuck dan snyder

>>12579554
>t. Stalin

>>12579538

It’s a consequence of inflationary policy. Inflation fucks prices and therefore fucks the signalling information that they give, which makes people make decisions they otherwise wouldn’t, like investing in a literal Ponzi scheme like snapchat.

>>12579272
They’ll hand it out amongst the government elite which like the business elite are Jews.

We lose either way and they always win, the super rich Jews will leave the country and the white populous will be the own taking the tax burden and be brought down economically to that of a street nigger.

>>12579478
> the more "rich" will move away.
The rich in the US can't do shit for one very important reason: the US is the only country in the world that imposes a worldwide tax on its citizens. The idea of "if you raise taxes, the rich will just move elsewhere" works for countries like France or the UK or Russia or wherever, but that doesn't work here. You can't just decide not to pay taxes and turn in your passport either; forfeiting US citizenship is a long process that takes years.

Not to mention that the ultra-rich in this country are only able to become ultra-rich because US citizenship carries with it a lot of perks. Like getting cushy government contracts for your businesses. The second you stop being a US citizen, all of a sudden, your company starts getting scrutinized more heavily and you start losing those contracts and then you lose sales.

>>12579160
ding ding ding

and i'll add one thing about the economy flatlining for us while giving so much money to the ultra rich. even though we printed all this money, where's the inflation go? probably didn't happen because the money didn't circulate. they took the money and bought index funds and that was that.

>>12579133
Ok I know this is kind of off-topic but iMax has nothing to do with Apple?
the FUCK guys?

>>12579570
Inflation encourages investment including in ponzi schemes. If the currency was deflationary or retained value the safest bet would always be to hoard wealth starving the economy including ponzi schemes. Generational wealth would always grow without needing to be put to work in any way, generational wealth would always grow instead of regularly being lost in bad investments like it is now.

>>12579554
If you weren't some poor loser fuck and were actually about to buy a house (and a superyacht is just as useful as a house), what percentage of your income would you spend on it?

>>12579171
This is probably one of the most retarded things I've read on this board.

>>12579554
>With 100m, i could bjuild 10 state of the art hospitals, or schools
you must be a teenager, or just a naive poorfag

>>12579554
At least 20% of the 100 million went to taxes so he's already paying for more hospitals than you, where I live it's more like 50%. The company that makes the yachts uses part of the money to iterate designs so in 20 years your pathetic life will be saved by their newly developed medical response boat. Meanwhile the hospital you built ran out of funding in 2 months, the taxpayers had to pay 50 million to demolish it as it was becoming a safety issue.

>>12579171
cause a yacht with its own imax theater isn't materialistic....suuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuure
fucking brainlet

>>12579133
All this ultra rich hassle heavily implies ultra rich are not running the show.
But since they actually you have to think why this narrative is pushed so hard.

>>12579907
Again, a fucking billionaire spending 100m on something isn't that crazy. If he only had 200m to his name, maybe, but 10% isn't really newsworthy.

>>12579171
>rich people aren't materialistic
>buying a $100million yacht with its own Imax theater inside

>>12579946
What part of relative wealth do you not understand?

>>12579554
And who's gonna be funding these state of the art hospitals and schools after they are built? Are you gonna continue siphoning your money maintaining them?

>>12579983
You know very well what I meant

>>12579133

>>12579554
You know when he pays 100m for the boat, tjat money doesn't just disappear, right? Nobody burns it. The company that built the boat uses the money and spends it. This is how an economy works. A billionaire spending 100M on a boat and Tyrone spending 1k on an iPhone affects the economy in the same way

>>12579665
What you're saying doesn't make any sense. There are much better places in the world to do business, such as Singapore.

>Warren, the Harvard bankruptcy law professor elected to the Senate in 2012, is worth between $3.7 million and $10 million.

in awe at the nerve of this cunt

>>12579894
>he thinks the rich pay taxes

no one with a networth over 10 million pays taxes

>>12579235
I remember reading a brillant satire thread on Keynesians here, I think it was in 2017. I think about it often but I haven't gone to dig it up yet.

>>12579133
Mfw Pocahontas is worth 5 million + and Nancy polosi is worth 150 million.
They want more money. Raise taxes.

>>12581072
I'm talking about a purchase, not income tax. Besides the endless list of taxes and fees that are hidden in the price of the yacht most countries have VAT.

the wage and class disparity is growing significantly and has been for the past 60+ years

>>12581072
That's clearly not true not even close. Majority of those pays taxes, let's say pro sports players for example. Ultra rich

>>12579554
I hope this is just comedy gold post, but sad truth is many people think like this. Especially democrats. It's a zero sum game for them and i think people who get envious some ultra rich buying a yacht, the person who gets jealous of that probably be more materialistic in his heart than the ultra rich man and would do the same thing in a blink

>>12579946
>>12579521
>>12579781
Prove me wrong, poor people are poor vecause they'd rather buy the new overpriced ShitPhone TM, living in the Mchuge city 99 paying 50% of their income for a shoebox, instead of investing their income, while living within their means. Those that invest become ever richer, those that spends stay poor, see Buffett as an example..

>>12579133

If the 1% can own the majority of the wealth, then they can pay the majority of the taxes. Thy always tell us not to worry about how much they make and own, so they shouldn’t worry about how much they should pay.

This “dude just blindly worship rich people” meme is getting pretty stale.

>>12581284

>poverty is a moral issue

>>>/1840/

Yeah I’m sure outsourcing, H1B, inflation, stagnating wages, educational disparities, etc have nothing to do with it.

>>12579171
guaranteed you are poor

>>12581284
you're totally right, these kids just need to be fiscally responsible and invest

>>12579133
The government's issue is a still a spending one rather than a revenue one. You up the revenue and they'll just burn it on more worthless pet project shit. The game is over, there's no fixing this.

>>12581284
It certainly doesn’t help but it’s not solely their fault. The system doesn’t work the way it worked for their parents and no one has told them the new rules of the game.

>>12581312
The "1%" already pays more than 70% of the taxes. You insist they pay more?

>>12581584
Sorry - let correct myself. The top 10% (not 1%) of earners pay more than 70% of the taxes and carry 70% of the burden. Even still.

>>12581617

The top 10% of the country controls something like 90% of the wealth, so yes.

No free rides for the wealthy.

inb4 kvetching

>>12581649
The faster the economy grows the more wealth gathers in the hands of capital holders. All they have to do is invest and their money grows. The latest crash led to fast growth which translates to more inequality. The only force countering this is inflation and unions that enforce a relationship between wages and inflation. The housing bubble is the best example of how the rich get richer and the only realistic way the housing bubble is stopped is by lowering the value of fiat until houses are relatively cheap compared to everything else without losing nominal value. The same applies for all hoarded capital, unions exploiting inflation and short term greed of capital holders it is the workers only line of defense.

>>12581649
That's idiotic. They are paying huge percentages and amounts more than anybody else. Why should they carry the burden of everyone just because they were successful or did well or had families that took care of them? Go back to Maoist China or the Soviet Union. OH, wait, you can't because they imploded.

The problem is the "ultra-rich" easily have the means to move their wealth and assets elsewhere so even if this comes to pass, you'll just witness a mass migration of the wealthy and a few cucks willing to stay and get ass fucked.

>>12581324
None of those decide that american soulless creatures rather spend their income on the newest overpriced Mcshitphone rather than investing it

>>12581352
A low IQ race decides to invest their collective national income into vodoo charms, or let the local warlord buy whatever he wishes instead of converting the system into a capitalistic free marketplace, thanks for proving my point

>>12581392
The system works rather the same, their parents just didn't live in as a conformative NPC era, and if you can't break the conditioning then you're destined to be poor

>>12581649
Lets make all the employers flee the nations of the west through socialism, great idea comrade, atleast the populace won't be oppressed under free will labor agreements anymore when they'll either be faced with picking cotton by hand to honor the regime or execution

>>12579133
lmao.
>force business owners to sell 3% of their shares every year to cover tax.
>Lose ownership eventually

It's like they don't want any business to be successful.

>>12582206
Bingo. They want the federal government to be as powerful as possible, and that means taking it from individuals and their businesses, no matter how big or small they are.

Rich don’tbpay taxes - not be tax evasion, but by legal means which is not “affordable” by pours. For examples, dividend distribution. Many wealthy folks have their wealth tied to equity and properties - both can generate cash-flows which are taxed differently compared to capital gain events when one sells stocks or properties. This means if I have lots of wealth via stock/properties and it’s more than enough to keep me afloat for a while, I just pay dividend tax which is 15% or something. Meanwhile a wagie with 100K salary will give back 30% and his PPOR is not an asset as long as he has to pay mortgage on that. And if you bring trusts into the game, that dividend % changes even more, as dividends will be distributed across trust members keeping effective tax rate down.

>>12579189
this. the only solution to americas failed democracy at this point is a bloody purge.

>>12582584
> pours
Terrible typing from mobile. Sorry anons.

>>12579362
explain how well this works in a country that has a large population of retards (aka niggers) and then actively imports even more genetically inferior retards (aka south american mexishits)

>>12581284
Partly true. I have friends that have decent jobs but never have money because they waste it on dumb shit all the time. a new game here, a 30 rack there. shit adds up and these retards dont understand.