Visual representation of wealth inequality in US

[noleclone2]

This is a great visual of what we are up against and perhaps the number 1 reason our county is suffering. It’s time for some 1950s tax tables and to make the super rich universally loathed and condemned as the selfish hoarders they are, not people to worship and praise.

 

[FlickShagwell]

This is a great visual of what we are up against and perhaps the number 1 reason our county is suffering. It’s time for some 1950s tax tables and to make the super rich universally loathed and condemned as the selfish hoarders they are, not people to worship and praise.

View embedded media

Cue “no one actually paid taxes in the 1950’s” from the wing nuts.

 

[Whiskeydeltadeltatango]

Outstanding.


Here is the problem, those people on the far right of the graph give a shit ton of money to both political parties so nothing changes. And frankly a fair amount of the right end of that graph, are politicians.

 

[Faithnolemore]

sad

 

[HawkeyeShawn]

The problem I have with taxing the rich more than we current are is that I don’t trust our government to actually lift up the poor and middle class.

 

[markfromj]

Such bullshit in that video. The vast majority of the wealth of the top, say, 5%, is not “cash” nor “take home”, but is in the stock of the companies they built. As the market pushes up the share prices of those stocks, their wealth increases.

Agreed, there is wealth inequality. And thank god!

 

[onlyTheObvious]

Going to need to figure out a way to text wealth because the money you are after isn’t from traditional taxable income.

Also get more support if the money was then given to the middle and lower class because absorbing it into bullshit government programs gets the eye roll from more and more people every day.

 

[Torg]

Outstanding.


Here is the problem, those people on the far right of the graph give a shit ton of money to both political parties so nothing changes. And frankly a fair amount of the right end of that graph, are politicians.

Thanks to conservatives on the Supreme Court.
Bribery used to be illegal

 

[seminole97]

It’s time for some 1950s tax tables

In the 1950s Federal tax collections averaged 16.8% of GDP.
Income taxes collection averaged 7.2% of GDP.

Those are lower numbers than now.

 

[Whiskeydeltadeltatango]

Thanks to conservatives on the Supreme Court.
Bribery used to be illegal

You keep chasing that repub vs dem thing, they are going to let you win one of these days!

 

[Torg]

Going to need to figure out a way to text wealth because the money you are after isn’t from traditional taxable income.

Also get more support if the money was then given to the middle and lower class because absorbing it into bullshit government programs gets the eye roll from more and more people every day.

You should add “li” to your name
OnlyThe ObLIvious

 

[Funky Bunch]

Such bullshit in that video. The vast majority of the wealth of the top, say, 5%, is not “cash” nor “take home”, but is in the stock of the companies they built. As the market pushes up the share prices of those stocks, their wealth increases.

Agreed, there is wealth inequality. And thank god!

REPORTED!!!

 

[Torg]

You keep chasing that repub vs dem thing, they are going to let you win one of these days!

Yes there are some bad Dems but they are the only party that at least has some members who actually try to do something to actually help regular people. Republicans only want to help the wealthy.

 

[HawkMachine]

In the 1950s Federal tax collections averaged 16.8% of GDP.
Income taxes collection averaged 7.2% of GDP.

Those are lower numbers than now.

 

[Titanhawk2]

This is a great visual of what we are up against and perhaps the number 1 reason our county is suffering. It’s time for some 1950s tax tables and to make the super rich universally loathed and condemned as the selfish hoarders they are, not people to worship and praise.

View embedded media

Was not aware that wealth had been taxed in the 50's

 

[Tom Paris]

Such bullshit in that video. The vast majority of the wealth of the top, say, 5%, is not “cash” nor “take home”, but is in the stock of the companies they built. As the market pushes up the share prices of those stocks, their wealth increases.

Agreed, there is wealth inequality. And thank god!

Unbelievable that people think like this. The middle class has been under attack for 40 years. Seriously, you seem thrilled that 1% own have the wealth. Those billionaires LOVE you.

 

[packerHawk76]

The problem I have with taxing the rich more than we current are is that I don’t trust our government to actually lift up the poor and middle class.

Best post in the thread before the team blue/red discussion took over

 

[FlickShagwell]

Unbelievable that people think like this. The middle class has been under attack for 40 years. Seriously, you seem thrilled that 1% own have the wealth. Those billionaires LOVE you.

“Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.” - John Steinbeck

 

[TC Nole OX]

“Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed
millionaires.” - John Steinbeck

That is very accurate

 

[TC Nole OX]

Cue “no one actually paid taxes in the 1950’s” from the wing nuts.

Which if that is the case, why not reinstate those rates from the 1950s? Clearly, they won't cause any harm to our precious billionaires.

 

[noleclone2]

Yes-we all know there is a difference between wealth and income. But income produces the wealth over time. And this is what happens over time. I know it is complicated how we got here but if you look at it over time and then watch that video to where Americans think the ideal should be, where they think we likely are, and where we are actually at, it’s hard to not see how the vast majority of Americans shouldn’t be pissed off by this.

 

[Torg]

The problem I have with taxing the rich more than we current are is that I don’t trust our government to actually lift up the poor and middle class.

If Republicans are in charge you are correct.
Democrats, especially FDR and Truman, showed that government CAN help the poor and middle class.
Actually Eisenhower also. No Republicans since him.

 

[Chuck C]

Electricians only make $37,000 a year?

 

[HawkeyeShawn]

If Republicans are in charge you are correct.
Democrats, especially FDR and Truman, showed that government CAN help the poor and middle class.
Actually Eisenhower also. No Republicans since him.

You had to go back to FDR and Truman. I stand by my comment that I don’t trust either party. I’ll add “currently” to that statement.

 

[Finance85]

This is a great visual of what we are up against and perhaps the number 1 reason our county is suffering. It’s time for some 1950s tax tables and to make the super rich universally loathed and condemned as the selfish hoarders they are, not people to worship and praise.

View embedded media

Wealth and income are different. We have an income tax at the federal level. We don't have a wealth tax.

The US created 2200 new millionaires in 2023.

There are now more than 5.5 millionaires in the US.
There are more than 9850 with investable assets over $100M.
There are 788 billionaires.

Get back to us when you give away half of your wealth. Wealth envy is greed.

 

[binsfeldcyhawk2]

Outstanding.


Here is the problem, those people on the far right of the graph give a shit ton of money to both political parties so nothing changes. And frankly a fair amount of the right end of that graph, are politicians.

Yep. The super rich play both sides of the fence for the most part and our lifelong politicians somehow end up very wealthy.

"Honest Graft" is a real problem.

 

[ping72]

The problem I have with taxing the rich more than we current are is that I don’t trust our government to actually lift up the poor and middle class.

Well… there are two problems here. One, some people have way too much money. And two, some people do not have enough money.

So it would be awesome if the government could actually lift up the poor middle class. But if not, we are still better than where we are now.

 

[QChawks]

good thing all of us GIAOT's are all on the far right

 

[ZachJump]

Going to need to figure out a way to text wealth because the money you are after isn’t from traditional taxable income.

Good luck with that with out crashing the markets.

The super wealthy would have to dump stock to pay this tax….lots of stock.

Only problem is everyone that has money is all dumping at the same time and nobody is buying

 

[TheCainer]

This is a great visual of what we are up against and perhaps the number 1 reason our county is suffering. It’s time for some 1950s tax tables and to make the super rich universally loathed and condemned as the selfish hoarders they are, not people to worship and praise.

View embedded media

“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.”
― John Kenneth Galbraith

 

[thewop]

Why is wealth inequality bad?

Comparison is the thief of joy.

 

[BelemNole]

Wealth and income are different. We have an income tax at the federal level. We don't have a wealth tax.

The US created 2200 new millionaires in 2023.

There are now more than 5.5 millionaires in the US.
There are more than 9850 with investable assets over $100M.
There are 788 billionaires.

Get back to us when you give away half of your wealth. Wealth envy is greed.

Well, the bank won't loan me money to avoid taxes like the wealthy do.
The system was set up by the rich so that the rich can game it.

 

[onlyTheObvious]

Good luck with that with out crashing the markets.

The super wealthy would have to dump stock to pay this tax….lots of stock.

Only problem is everyone that has money is all dumping at the same time and nobody is buying

I didn’t say I was for it just saying what would need to be done.

Almost nobody in those $50 million yachts is “working for a paycheck”.

It’s their accumulated wealth.

Maybe put a high tax on things only the super rich use and do. Federal docking fee on boats over a certain size, private jet fuel and sales tax, multiple home federal tax if one of the properties is over a certain value.

 

[BelemNole]

Why is wealth inequality bad?

Comparison is the thief of joy.

Ask the french

 

[noleclone2]

Ask the french

That is how this will end unless it ends in a totalitarian kleptocracy like Russia like MAGA wants. Something has to give. It’s why everyone is angry.

 

[Torg]

You had to go back to FDR and Truman. I stand by my comment that I don’t trust either party. I’ll add “currently” to that statement.

There are many Democrats who want to copy FDR, but since Citizens United it has been more difficult to get enough support for good legislation to help the poor and middle classes.
We need to get rid of legal bribery.

 

[Finance85]

Well, the bank won't loan me money to avoid taxes like the wealthy do.
The system was set up by the rich so that the rich can game it.

Don't be a poor. Be like nearly everyone else here except Tom Paris and tarheel.

 

[TennNole17]

Is this that “compounding interest” thing I keep hearing about?

 

[ZachJump]

It’s why everyone is angry.

Everyone?

That is a strong statement.

I am not angry. Kind of loses meaning once ya find one that isn’t

 

[Phenomenally Frantastic]

I just can’t understand why nothing changes.