The purpose of an economic system is not the myopic accumulation of capital per se. It is (or should be) the well-being of ALL the people within the nation who share the benefits of their hard-earned work. And it should be a national objective to assure - not equal shares of the abundance - but equitable shares. Which is what taxation was intended to do, but amply fails at doing presently.
And what Americans know (but fail to acknowledge) is that the primary purpose of taxation today is to assure that the accent is solely upon accumulation of Wealth (and Net Worth, which is Wealth minus Debt). Meaning, in a pie-chart rendition, this:
How did it all go so wrong, so wrong, so wrong?
We started to get taxation wrong with JFK who had his Dem-congress reduce taxation (it was LBJ who signed it into law). Reckless Ronnie finished the job. The history of upper-income taxation reduction from above 90% to around 30% is plain enough for anybody to see - Here. Which substantiates the two general movements downward in upper-income taxation since the 1960s.
Note in the above infographic that it was Reckless Ronnie who hacked upper-income taxation down to the ridiculous level at which it finds itself today. That historical fact is evident in the infographic linked above. (When a Milt Romney can pay 14% on income of $13.6M and brag about it, one knows that something is very, very wrong. See here.)
What do both of those degradations in upper-income taxation mean to us as a nation today? That a very small class of plutocrats are very privileged in their taxation and spend-like-crazy to assure that Congress does not change the situation!
Zucman and Saez (UCal, Economics) show well enough the awful consequences of unfair taxation here:
This above characterizes the world we live in today. Notably, the top 0.1% of the population obtain the same amount of Wealth generated by the other 90% of us.
And people may think that is fair and honest? When its an income-taxation rip-off that was planned and executed by the Replicants. You THINK you are fooling somebody?
Not anybody with the factual evidence, they're not foole for even one nanosecond ...
NB: There is a reason why 14% of the American population are incarcerated below the Poverty Threshold (of $23K income per family). It is because not enough is being done to prevent them from "falling through the cracks". Meaning having the educational perquisites that would permit them a better job. Which Bernie had suggested and Hillary offered were she elected PotUS. But, no, the election was manipulated to make Donald Dork the winner!
So you are right that it is unfair. It is unfairly balanced on the backs of the rich. If we want to make it more fair, we need to tax the middle class more. They are the ones actually currently getting a relatively free ride.
You appear to have "net worth" confused with "taxation". And I cited the data for you - it's the part you carefully deleted from your replyOh wow! You are one helluva funny guy.
The research data nonetheless proves you wrong and shows the ultimate result of "Highly Progressive Taxation" in America:
.
Yes, that source is where I live. Here in the European Union that has both a National Health System and Post-secondary Education - both of which are free, gratis and for nothing.
Meaning, easy entry and lo-cost promote the ability of our youth here to obtain the skills necessary for a well-paying job. It also helps them to analyze events lucidly and understand what is happening in both the EU and the rest of the world.
The ability to obtain a post-secondary degree without the barrier of a high-cost has produced this:
What the above shows is that after a disastrous war, Europe was able to catch-up in terms of skills-levels that has allowed the development of a market-economy of the same level as the victor; that is, the US.
And as regards Healthcare, which is also very lo-cost in Europe, money is not diverted from hi-cost Medical Care into the pockets of its purveyors as is the case in privatized medicine in the US, which is a rip-off (given the more than double the cost of EU healthcare).
Cuckoo logic, and asinine. We are better off in Europe for the above basic reasons, even though Americans are "financially richer" on average.
Generating millionaires is not what makes a country great (except in the eyes of Americans). Assuring that a market economy is fair and equitable - though not equal - is the most honest societal objective of any nation.
It's a shame Americans - fixated on absolute dollar-values ("the higher the better") - don't understand that simple but key concept ...
If I've read this lamentation around here once, I've read it hundred times.
People like you think that presently low upper-income taxation is good and food-stamps are bad. The rich get richer and the poor go hungry.
When that explodes in your face - as it did in Watts Riots of 1965 - again in America, we'll see how smug you are.
Watts Riot photo:
People like you refuse to understand that the lack of a post-secondary education locks one into permanently underpaid employment (with a country minimum-wage rate of $7.25 and hour) - which in turn leads to human-desperation and societal-rioting.
When that happens and it's YOUR RESIDENCE going up in flames - do post a photo here, will you ... ?
If I've read this lamentation around here once, I've read it hundred times.
People like you think that presently low upper-income taxation is good and food-stamps are bad. The rich get richer and the poor go hungry.
When that explodes in your face - as it did in Watts Riots of 1965 - again in America, we'll see how smug you are.
Watts Riot photo:
People like you refuse to understand that the lack of a post-secondary education locks one into permanently underpaid employment (with a country minimum-wage rate of $7.25 and hour) - which in turn leads to human-desperation and societal-rioting.
When that happens and it's YOUR RESIDENCE going up in flames - do post a photo here, will you ... ?
Oh wow! You are one helluva funny guy.
The research data nonetheless proves you wrong and shows the ultimate result of "Highly Progressive Taxation" in America:
I linked several sources for you in post 55. You carefully snipped them out of your reply.
The purpose of an economic system is not the myopic accumulation of capital per se. It is (or should be) the well-being of ALL the people within the nation who share the benefits of their hard-earned work. And it should be a national objective to assure - not equal shares of the abundance - but equitable shares. Which is what taxation was intended to do, but amply fails at doing presently.
And what Americans know (but fail to acknowledge) is that the primary purpose of taxation today is to assure that the accent is solely upon accumulation of Wealth (and Net Worth, which is Wealth minus Debt). Meaning, in a pie-chart rendition, this:
How did it all go so wrong, so wrong, so wrong?
We started to get taxation wrong with JFK who had his Dem-congress reduce taxation (it was LBJ who signed it into law). Reckless Ronnie finished the job. The history of upper-income taxation reduction from above 90% to around 30% is plain enough for anybody to see - Here. Which substantiates the two general movements downward in upper-income taxation since the 1960s.
Note in the above infographic that it was Reckless Ronnie who hacked upper-income taxation down to the ridiculous level at which it finds itself today. That historical fact is evident in the infographic linked above. (When a Milt Romney can pay 14% on income of $13.6M and brag about it, one knows that something is very, very wrong. See here.)
What do both of those degradations in upper-income taxation mean to us as a nation today? That a very small class of plutocrats are very privileged in their taxation and spend-like-crazy to assure that Congress does not change the situation!
Zucman and Saez (UCal, Economics) show well enough the awful consequences of unfair taxation here:
This above characterizes the world we live in today. Notably, the top 0.1% of the population obtain the same amount of Wealth generated by the other 90% of us.
And people may think that is fair and honest? When its an income-taxation rip-off that was planned and executed by the Replicants. You THINK you are fooling somebody?
Not anybody with the factual evidence, they're not foole for even one nanosecond ...
NB: There is a reason why 14% of the American population are incarcerated below the Poverty Threshold (of $23K income per family). It is because not enough is being done to prevent them from "falling through the cracks". Meaning having the educational perquisites that would permit them a better job. Which Bernie had suggested and Hillary offered were she elected PotUS. But, no, the election was manipulated to make Donald Dork the winner!
