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How much of my/our income is enough?

lefty louie said:
The 50's was also a very different time, we were just coming out of the great depression, the suburbs were being built, and there were 3 auto makers in this country.
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Yes, but also keep in mind that economies are consumer-driven. Without demand coming from prospering workers you wouldn’t have three major automakers or flourishing suburbs. By redirecting the excess (profits) to the top and away from the workers we get the top-heavy economy we see now... and we all know what happens to things that are too top heavy.
 
Mircea said:
Nothing but propaganda there.

There was a recession December 1948 to September 1949.

Another recession August 1953 to April 1954.

Another recession September 1957 to April 1954.

And another recession May 1960 to January 1961.

So much for your "strong economy."
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I don’t know what you think you refuted, but I never said we don’t go through boom/bust cycles. As a geoist, I am acutely aware of them. So long as we allow site speculation then they will continue like clockwork. Progressive income tax is a bandaid, but land value tax is the antidote.
 
vesper said:
Let me get this right.....We the People bust our arse for the money often learning a trade or a degree at our own expense to make a decent income and then by you it is alright to part with 50% of our earnings and allow the government to confiscate it? And are you speaking about Federal income tax only? Because if not, there are a heck of a lot of people when you add what they pay in Federal, State, City taxes exceed 50% and I sure as heck wouldn't label them rich.

And by the way, what exactly did the government do to deserve that money?
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Psst...that money belongs to "we the people" still... You have a government in order to ensure that it gets spent making your lives better. What exactly did the government do to deserve that money? They won the votes.
 
danielpalos said:
Is it real times of war or not? Real times of war should require wartime tax rates.
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Well as of late we are constantly at "war" it seems, but no my question is based on a normal un warlike time.
Geoist said:
Yes, but also keep in mind that economies are consumer-driven. Without demand coming from prospering workers you wouldn’t have three major automakers or flourishing suburbs. By redirecting the excess (profits) to the top and away from the workers we get the top-heavy economy we see now... and we all know what happens to things that are too top heavy.
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You mean "only 3 auto makers" not like the dozen we have today. In order for a top heavy tax of 90% other first world countries would have to follow suit. If not every big corp. will flee to greener pastures.
 
That is the point. The right wing would be coming up with market friendly solutions, if they had to pay wartime tax rates for their public policies.

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.
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The right wing is welcome to, "get serious", whenever they want.
 
lefty louie said:
You mean "only 3 auto makers" not like the dozen we have today.
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There were over 1,800 by the 1930s. But capitalism has a way of consolidating/centralizing industries. Point still stands that consumers drive the economy.


In order for a top heavy tax of 90% other first world countries would have to follow suit. If not every big corp. will flee to greener pastures.
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So is a race to the bottom the answer? We cannot compete with 3rd world countries when it comes to cheapness of labor so why do we pretend we have to try? While I am typically anti-tariff, I have no problem with taxing American companies who ship their products to the US from foreign countries. This is what the politicians would do if they were smart/not bought out.
 
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