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The pandemic is helping the rich get even richer

Lafayette

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From Bernie Sanders : The pandemic is helping the rich get even richer. It's time to tax their obscene wealth

Excerpt:
We are in the middle of an extraordinary moment in American history: a public health crisis, the worst economic downturn since the Great Depression, the existential threat of climate change and a president who is moving our country in an authoritarian direction.

In the midst of all these crises, there is another issue of major concern that is receiving very little attention. And that is the obscene level of income and wealth inequality which exists in our country and the fact that, during the pandemic, that inequality is becoming much worse.

While tens of millions of Americans are now facing economic desperation – unemployment, loss of healthcare, evictions, hunger – the very rich are becoming much richer. Here are three figures that should come as a shock to everyone in America ...


So, don't say nobody never told ya so ...
 
From Bernie Sanders : The pandemic is helping the rich get even richer. It's time to tax their obscene wealth

Excerpt:
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So, don't say nobody never told ya so ...
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The rich and large corps are being taxed the lowest since immediately before the Great Depression. Just like taxes were decreased leading up to the Great Recession. Just as Trump gave $2T away to the rich and large corps before the depression we're in now that has squandered our national treasure and thus prevent recovery from the economic impact of this pandemic. When we finally get to a bill that is for the avg American, not including large corps, the Reps and Trump stall. But the stock market was pumped-up with a couple trillion $ from the Fed to a market where money had no other place to go. And not hardly a cent to the avg American.

It is true that in tough economic times, whenever the stock market falls sharply, the wealth gap widens. The stock market will always do well. The avg American loses.
 
In London, to prevent the homeless from sleeping under bridges, they came up with the idea of installing spikes. I think it's a lie. First, there is proper capitalism over there and so there can't be homeless people. And if they do, they have such a large unemployment benefits, that they sleep in decent hotels.

beautiful baby boy
 
Bernie. Have a couple of questions. Now that you are a millionaire how much have you made during the pandemic? You once talked about taxing the heck out of millionaires till you became one. Now the emphasis is on billionaires. Why is that?
 
Bernie. Have a couple of questions. Now that you are a millionaire how much have you made during the pandemic? You once talked about taxing the heck out of millionaires till you became one. Now the emphasis is on billionaires. Why is that?

Bernie's net worth is 2M$. (Mostly from books he wrote.)

Go for it! Make a mountain out of a molehill ... !
 
Bernie's net worth is 2M$. (Mostly from books he wrote.)

Go for it! Make a mountain out of a molehill ... !

Nah. not worth the effort. Besides Bernie would most likely could not get the tax increase approved by the majority in Congress.
 
The rich and large corps are being taxed the lowest since immediately before the Great Depression. Just like taxes were decreased leading up to the Great Recession. Just as Trump gave $2T away to the rich and large corps before the depression we're in now that has squandered our national treasure and thus prevent recovery from the economic impact of this pandemic. When we finally get to a bill that is for the avg American, not including large corps, the Reps and Trump stall. But the stock market was pumped-up with a couple trillion $ from the Fed to a market where money had no other place to go. And not hardly a cent to the avg American.

It is true that in tough economic times, whenever the stock market falls sharply, the wealth gap widens. The stock market will always do well. The avg American loses.

Regardless of the reasons, the fact that more than 30 million Yanks live below the Poverty Threshold is the far more important number.

Any nation (worth anything) should strive to have a fairness of Income Disparity (that will always exist). And the US has THE WORST of any developed nation.

So how do we get rid of Income Disparity? No, not by monetary handouts. But by allowing those who want it to enhance their incomes by means of free training/education that will permit them a higher salary-level.

A diploma costs 14K$ for one year on average anywhere in America in a post-secondary state-school. The poor are any family earning less than $25K annually. How in heaven's name are they going to send their kids to an education in a state school on that income?

How?

In Europe, the kids go on to post-secondary schooling by paying only an entry-fee of around 900 euros an academic year. National schooling in Europe is mostly provided by the state. Which is why the EU has higher taxation than other countries.

But the money is worth the effort and the results are most certainly worth the income-taxation that provides the funds! Taxation is higher in Europe than the US - but the money provides both National Healthcare Systems (free, gratis and for nothing) as well as post-secondary education of very low cost to students ...
 
Nah. not worth the effort. Besides Bernie would most likely could not get the tax increase approved by the majority in Congress.

Today, yes. Tomorrow is quite another question.

The upper-income tax-raise would provide millions upon millions in revenue that is going to families that neither deserve nor need it!

And the enhancement of revenues from better jobs people get when they have a professional-degree will provide all of them a great deal of good ... !
 
Today, yes. Tomorrow is quite another question.

The upper-income tax-raise would provide millions upon millions in revenue that is going to families that neither deserve nor need it!

And the enhancement of revenues from better jobs people get when they have a professional-degree will provide all of them a great deal of good ... !

No doubt that would increase revenue. Lets say Bernie gets the tax increase he wants and the dollars come in. What he wants it for is more spending. Shouldn't the US work on reducing the debt and a balanced budget before increase spending?
 
What he wants it for is more spending. Shouldn't the US work on reducing the debt and a balanced budget before increase spending?

In a crisis as the country finds itself today, spending is not the problem but the solution. We must rebuild Demand for goods and services that puts people back to work.

America's debt has been with us a long, long time. We've learned to live with it. And, if you want to get rid of it, start with the massive expenditure of the DoD that accounts for more than half of all Discretionary Spending by the US government! The world is at peace and we do not need that level of spending on the DoD (as shown here).

For as long as the word wants to purchase American debt, there's no problem. But, one day, that "problem" could descend upon Uncle Sam like a ton-of-bricks. We can sustain our spending for as long as the world wants to hold US debt. But, that could change very, very quickly.

We'd best get our house in order before that day falls upon our collective heads. I say we raise upper-income taxation to where it was under Kennedy (at close to 90%) as well a introduce death-taxation that stops the hand-off of massive wealth to people who never spent a day earning it ...

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Also, note from the above graphic when the 95th-percentile separated definitively from the rest. It was in the 1980s.

Who was PotUS in the 1980s? Raygun-Ronnie. It was RR who decided (along with a mesmerized Congress) to bring about significant reductions on upper-income taxation!

It was this factor, even further enhanced by other Rep-Presidents, that created the enormous Income Disparity that exists today in America ...
 
Today, yes. Tomorrow is quite another question.

The upper-income tax-raise would provide millions upon millions in revenue that is going to families that neither deserve nor need it!

And the enhancement of revenues from better jobs people get when they have a professional-degree will provide all of them a great deal of good ... !

You defend the wealthy. Either you are wealthy or you are one of the blind and brainwashed.

We are not talking about poor people. Welfare recipients. People who have never had a job in their life.

We are talking about 90% of Americans. Get that picture in your head. The entire middle/working class! They haven't had a raise since Reagan.

Just an example. If you were making $50,000 a year in 1985 what would be comparable to today just using the official inflation rate. $120,400. Kind of sobering isn't it. Even with all those years of experience I bet many haven't even kept up with inflation

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You defend the wealthy. Either you are wealthy or you are one of the blind and brainwashed. We are not talking about poor people.

I am writing about poverty. Don't know about you.

You apparently have no idea whatsoever of Income Disparity, which means the difference between the super-poor and the super-rich and those in between. So, take a course in the subject.

Then come back and maybe we can discuss the matter ...
 
I am writing about poverty. Don't know about you.

You apparently have no idea whatsoever of Income Disparity, which means the difference between the super-poor and the super-rich and those in between. So, take a course in the subject.

Then come back and maybe we can discuss the matter ...

And exactly what is your plan for poverty.

A plan to bring them up out of poverty. Train them and get them in the job market. Break the generational trap of our welfare system.

Or

Do like we have always done and take the easy way out and pay them to stay out of sight and out of mind. Governments way of solving problems. Throw money at it.

Now there is another alternative that I am sure the trump supporters would back. The results would.probably be pretty chaotic.

Just cut them off and let them fend for themselves. That could get pretty ugly.
 
And exactly what is your plan for poverty. A plan to bring them up out of poverty. Train them and get them in the job market. Break the generational trap of our welfare system.

People like you fail to understand what has been happening "historically" to "industry" and therefore the industrial job-market. In the the 1990s, when China opened its doors to international-trade, they flooded both the US and Europe with MUCH CHEAPER manufactured products!

The consequence upon jobs in industry was evident. The number of people employed in US industries has diminished profoundly - see here. Note the loss of "goods-producing" employment in the US versus that of "services producing" industries. It is obvious what has happened.

What is less obvious - and must be stated - from that graphic is that the two industries have very different sets of qualifications for "work". Services-industries tend to require more talented people. Which is why there is an accent upon post-secondary "specialized" education. Which, actually, costs on average about $14K a year at any state institution of learning.

Now, when you have a population of which 38 million live below the Poverty Threshold (more than 11% of the total) then "the country has a long-term problem". That is, it must extend the responsibility of education by state-means to post-secondary education. (Funded also by the Federal Government - and preferably by diminishing the outrageous percentage of the DoD!)

Unless, of course, you may have a better idea ... ?
 
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No doubt that would increase revenue. Lets say Bernie gets the tax increase he wants and the dollars come in. What he wants it for is more spending. Shouldn't the US work on reducing the debt and a balanced budget before increase spending?

The left have spent the money they haven't even received yet and already are preparing to ask for more.
 
BETTER THE LIVES OF AMERICAN FAMILIES

No doubt that would increase revenue. Lets say Bernie gets the tax increase he wants and the dollars come in. What he wants it for is more spending. Shouldn't the US work on reducing the debt and a balanced budget before increase spending?

You are reducing the argument in question in order to make it look ludicrous. Nice try. Didn't work.

Of course new tax-dollars are needed - when you look at the US budget (see here) where is more than half the budget going? To the DoD!!!

Where's the war? Which enemy country is attacking America?!?

As I have mentioned a thousand times (in this forum), we need only spend that budget more wisely and we (as a nation) will handle well the presently humongous evolution from the Industrial Age into the Information Age. Our people need to upgrade their talents because working in a manufacturing plant (making tea-cups, for instance) is no longer "on". The percentage of Americans that work in goods-producing industry is only 12.8% (see here).

The above means that we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. And I mean by that whether they are in high-school or whether they have long since graduated and need to go back to obtain an advanced degree.

So now do show how that objective suggested above cannot better the lives of American families ...
 
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The left have spent the money they haven't even received yet and already are preparing to ask for more.

No, Congress and the President have "spent the money they haven't even received yet and already are preparing to ask for more".

Senate is controlled by Republicans, House controlled by Democrats, White House has a Republican President.
 
BETTER THE LIVES OF AMERICAN FAMILIES



You are reducing the argument in question in order to make it look ludicrous. Nice try. Didn't work.

Of course new tax-dollars are needed - when you look at the US budget (see here) where is more than half the budget going? To the DoD!!!

Where's the war? Which enemy country is attacking America?!?

As I have mentioned a thousand times (in this forum), we need only spend that budget more wisely and we (as a nation) will handle well the presently humongous evolution from the Industrial Age into the Information Age. Our people need to upgrade their talents because working in a manufacturing plant (making tea-cups, for instance) is no longer "on". The percentage of Americans that work in goods-producing industry is only 12.8% (see here).

The above means that we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. And I mean by that whether they are in high-school or whether they have long since graduated and need to go back to obtain an advanced degree.

So now do show how that objective suggested above cannot better the lives of American families ...

What war? I didn't mention any war.

As far as your comment of "we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. "
The US will always need workers that work on vehicles, build houses, repair houses, etc. Many of those jobs do not require going to college. Trade schools are also needed.
 
Big shocker. I told you folks the rich are getting richer. Every time the government sends out an extra $600 a week in unemployment or $1200 stimulus check, Jeff Bezos and the Walton heirs get erections. San Fransisco Nancy loves feeding viagra to Wall Street. It makes her even richer too.
 
BETTER THE LIVES OF AMERICAN FAMILIES



You are reducing the argument in question in order to make it look ludicrous. Nice try. Didn't work.

Of course new tax-dollars are needed - when you look at the US budget (see here) where is more than half the budget going? To the DoD!!!

Where's the war? Which enemy country is attacking America?!?

As I have mentioned a thousand times (in this forum), we need only spend that budget more wisely and we (as a nation) will handle well the presently humongous evolution from the Industrial Age into the Information Age. Our people need to upgrade their talents because working in a manufacturing plant (making tea-cups, for instance) is no longer "on". The percentage of Americans that work in goods-producing industry is only 12.8% (see here).

The above means that we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. And I mean by that whether they are in high-school or whether they have long since graduated and need to go back to obtain an advanced degree.

So now do show how that objective suggested above cannot better the lives of American families ...

Sorry bud lots of Americans are more suited to trades than college. If we don't produce quality jobs for those who are not suited for post secondary education then we will continue to have a large segment of the population supported by various government programs. We presently subsidise the low wages paid in many of these new service sector jobs. I am sure corporations like Walmart appreciate our government subsidising their low wages but reality is we need citizens with jobs that pay enough to raise a family, buy a home, pay taxes and participate in the largest consumer base in the world.

America needs lots of quality jobs. Our corporations abandoned America's workers to chase short term profits in lands of cheap labor and no regulation. That has resulted in a reduced standard of living for America's middle/working class and turned China into an economic superpower.

we have built their factories, trained their workers and given them our manufacturing technology. They don't need us any more.

If recent events haven't made you realize that having America dependent on offshore manufacturing, especially with a communist country that has been an enemy of America my entire life, is not a smart move for the security of this great country. Greed has overcome good sense.
 
What war? I didn't mention any war.

Yes, there is no war! Then why does the national Discretionary Spending budget indicate that around 50% is in DoD expenditures!

Given the present situation, that money could be used to much better purposes! Like preparing ourselves for what has come - that is, our Services Economy!

As far as your comment of "we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. "
The US will always need workers that work on vehicles, build houses, repair houses, etc. Many of those jobs do not require going to college. Trade schools are also needed.

Yes, true enough. But the fact of the matter is that workers in Industry are now only about 13% of the total. (Which is why I added the Bureau of Labor Statistics site that publishes that number.) The American workforce is now very largely Services oriented. And, services is an area that carries all vocations - from supermarket cashiers up to Medical Doctors. The largest portion of Americans now work in what are called Services Industries.

The industry sectoral-classifications are four (from here):
*Goods-producing, excluding agriculture (12.8%)
*Services-providing excluding special industries (80.2%)
*Agriculture, forestry, fishing, and hunting (1.4%)
*Non-agricultural self-employed (6.2%)

And I maintain that for the American Jobs Market today one needs more brains than brawn ... !

PS: I once believed that our secondary-school system was not up to the task of producing a very high-percentage of post-secondary students. But, there is hope (from here):
In a trend that has been widely lauded, the proportion of high school graduates who go straight to college has increased from 63 percent in 2000 to 70 percent now, the Department of Education says. (Jul 5, 2018]
PPS: But!
The official four-year graduation rate for students attending public colleges and universities is 33.3%. The six-year rate is 57.6%. At private colleges and universities, the four-year graduation rate is 52.8%, and 65.4% earn a degree in six years.
 
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The US will always need workers that work on vehicles, build houses, repair houses, etc. Many of those jobs do not require going to college. Trade schools are also needed.

True, but so what. All of the specialities that you speak above are NOT TAUGHT in secondary-schools.

One must go to a "trade school". Which I include in the batch of "post-secondary schooling that should be free, gratis and for nothing". We shall get "payback" from a higher skill-set including better salaries and a much lower population below the Poverty Threshold (which is already at 12% of the total).

Post-secondary schooling must be taught by each state and it should be as close to free as humanly possible.
 
True, but so what. All of the specialities that you speak above are NOT TAUGHT in secondary-schools.

One must go to a "trade school". Which I include in the batch of "post-secondary schooling that should be free, gratis and for nothing". We shall get "payback" from a higher skill-set including better salaries and a much lower population below the Poverty Threshold (which is already at 12% of the total).

Post-secondary schooling must be taught by each state and it should be as close to free as humanly possible.

From your post, "we must prepare our people for the Information Age by assuring that they can obtain the post-secondary degrees that are necessary to obtain decent work. "

You did not mention of trade schools. that it why I brought up jobs that do not require college. It would be better to say we must prepare our people for the jobs and careers they wish to have.
 
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