What percentage of the wealthy would it take?

The Irish did..

 

Have you ever owned a business?

 

Charity is to will for another as one wills for oneself. Charity has a completely voluntary nature, Absolutely everything done by government is done by force of law; therefore, government cannot conduct charity. Confiscation and redistribution is not charity; it is benevolent theft. In my opinion, it's a benevolence that should be reserved to the parents of small children.

 

To date, you've expressed no concern for how little some have. 100% of your focus is on how much others have. That's not compassion; that's envy.

 

It doesn't help when you have the two biggest Blue states hiring the Chinese to build your infrastructure for you. Also doesn't help when you make bad trades that take away your good paying jobs. We lost several of our biggest industries with bad trade agreements. When Ike built our roads, we were the worlds biggest supplier of almost everything. WWII devastated Europe and Asia. We had money to burn and had little debt.

https://abcnews.go.com/WNT/video/us-bridges-roads-built-chinese-firms-14594513

 

As I said before, you fix that by providing good jobs, not stealing off of others. People need to do what they have to to get one of those jobs. Government should only do what they need to do to make it so business can provide those jobs. For to long we seem to have a war against business and when that happens, we lose. Companies don't have to make their product here.

 

It's not happening, you are being conned by people who rely on high taxation to enrich themselves. Of course the edu industry spins out reams and reams of rubbish on "wealth inequality" they live and die by taxes and government grants. Don't be naive. Rather than taking their charts at face value, look into exactly what they are classifying as wealth and income.

 

That's ridiculous.
The charts do have a top and bottom, almost equally represented

You can't answer the upload so you get personal.
Well at least you did not stoop to, "in other words"


Simple question. Why isn't it wealth redistribution when the total wealth
of the nation is amassed in the hands of fewer and fewer people over a few decades?



Moi

​

 

We disagree.
It has happened.
Do you have any reference for what you say as I have upload charts?


I've read that the concentration of wealth today is unlike any seen in the nation
since the late 1800's.
The solution is the same now as it was then.
Study up, what was it then?

 

So now it is China's fault we don't have enough trained welders?

I'm sorry, but that is why infrastructure jobs are so nice. They are local.

Our debt to GDP ratio was the highest it has ever been after the war. And so were taxes.
We were able to grow ourselves out of that debt because the tax structure made "real" investment necessary.



https://abcnews.go.com/WNT/video/us-bridges-roads-built-chinese-firms-14594513[/QUOTE]

 

When Ike built the Freeways we had a Progressive Tax Code.
The Eisenhower Tax Code.
The more you made, the higher your tax bracket.
Check it out.

 

It's the same today. The more you make, the more you pay. At that time those big companies were paying about 90%. What happened later is companies started moving out and we made bad trades. The economy began to slow down and Kennedy wanted to cut corporate tax 25% to help rejuvenate it. He got killed before he could do it, but Johnson finally did at around 21% tax cut.

 

We made such bad trade agreements that Japan took over our television industry, along with the VCR industry,(An American invention) and the flat panel screen industry. Also an American invention. We allowed Japan to put a $5,000.00 inspection fee on our cars, which we couldn't sell back in the 1960's which had some of the nicest cars we ever made. They also tacked on higher insurance fees on our cars. We lost a lot of good jobs to Japan. We 've been doing a lot of stupid trades ever sense. It's no wonder Trump is trying to fix it.

 

No where near what it was.

Bipartisan Tax cuts since JFK dissolved the Eisenhower Tax Code.

I hope you check out and confirm you did, Eisenhower Tax Code.
Don't believe today's Tax Code is a Progressive Tax Code.
It just isn't true. Witness the absence of a Middle Middle Class since JFK
as an effect of all those "Dinner and a Movie, with loss of services" Tax cuts for us,
and the resulting concentration of wealth for the 1%.
It would not have happened had the Eisenhower Tax Code not been tampered with by RepubloCrats.
and their bipartisan tax cuts.


Oh and your numbers don't take into account the "tax shelters" since 1960.


Moi
Back in the fifties,
anyone who worked full time
could be a home owner

​

 

Kennedy wanted those tax cuts, not the Republicans. Johnson put them through, although it wasn't as much as Kennedy wanted. If the economy hadn't slowed and jobs disappeared, they would have never cut Ike's tax. Why should they? Think back, Back then we supplied much of the world with most of everything. Now look at today, just what do we make here now that the average American can buy? We no longer make the phones, toasters, irons, televisions, etc. etc. Things are much different than it was during Ike's time. I know, I lived back then. If you lost your job and didn't have another by the end of the week, you weren't looking.

Those tax shelters only help the very rich companies. Do do very little to the small and mid companies.

 

Did you know before Trump's tax cuts, we had the highest Corporate tax in the whole industrial world and Obama put on record regulations in his 8 years. No wonder companies left. Obama lost over 300,000 manufacturing jobs alone. over 90% of all the jobs created under his policies were service jobs. Many of them in low paying fast food industry. Many others were part time jobs. How were Americans going to support a family on jobs like that?

Do you also know at the time we made an agreement with Japan on our television industry, they didn't even know how to make televisions? Before it was over, they bought out all of our television companies, or they went belly up.

 

Justice, like you getting stuff you didn't earn?

 

You can't pin those jobs on Obama they were on their way out way before him.
We manufacture more stuff than we ever did. We just do it with fewer people.

Televisions moved to Japan for the same reason stuff has moved to China and will soon move to even lower cost countries. Cheap labor.
Those same TVs are now made in Korea because they developed the technology, and automated it. The Japanese screwed up when they only wanted to use components made in Japan-sound familiar?
Edit:
Our effective tax rate was somewhere in the upper middle.

 

IN THE BEGINNING, THE TV CARTEL: A very famous example of Japanese national government and corporate coordination to take over a foreign industry is that of the Japanese TV cartel, first set up in the 1960's. This is how Japan took the free-world TV industry away from the United States. PBS TV's "Frontline" program did an excellent documentary on this called "Coming From Japan", (see Appendix for how to get transcript via Internet). In the 1960's, the Matsushita Industrial Electric Company, Sanyo, Toshiba and others formed a TV cartel in Japan. They got US TV technology from the giants in the industry (Zenith, RCA, Quasar) in the following way. The Japanese government prohibited US made TVs from being sold in Japan. Instead, they insisted that the technology be licensed to Japanese manufacturing companies rather than importing (still often the case today in Japan). The US companies thinking they could still make money this way, agreed to these terms which enabled the Japanese companies to acquire the technology on how to build TVs. The above Japanese companies, with tacit approval from the Japanese government, set up a cartel to inflate TV prices in Japan in order to turn around and use the money to sell below cost TVs in America. This was to drive US makers out of the American and world markets. US TV makers went bankrupt or left the industry as they could no longer fund research to continue making improved and high quality TVs. They could not compete with the artificially low Japanese TV prices in America and were forbidden to enter the Japanese market to take advantage of the high prices there. Hence, the US makers could not make money. Furthermore, secret deals to thwart US customs, illegal under US trade law, were set up by Japanese TV makers and US retailers such as Sears and Montgomery Ward to sell Japanese TVs under store brand names. Concurrently, the Japanese mounted an important lobbying effort in Washington to ensure that this scheme was not disrupted by the US government or customs services [Agents of Influence p77]. As a result, once famous brands such as Sylvania, Quasar, Admiral, Philco and RCA have vanished or are foreign/Japanese owned. Zenith is the only remaining US TV maker today. No US companies make VCRs although they were an American invention. In the 1980's the Japanese applied this same strategy to the computer flat panel display industry (also invented in the US) and now completely dominate that industry as well. Before that was motorcycles, machine tools and computer memory chips (the US tried to retaliate but failed as our companies couldn't organize with each other during the now famous "dram shortages" a few years ago). It will be happening again in the financial services industry [Yen! p32], telecommunications equipment, kitchen/washing appliances and aircraft manufacturing during the 1990s and beyond [Newsweek 1/18/93 p17].

 

If they could get away with it, they would gas the rich and confiscate their assets.

 

Why would our government sit back and allow Japan to bar us from selling our televisions or anything else in Japan? If they said no, we should have said you can't sell your cars in our country. We see all the crap these countries do to us in trade and allow them to get away with it. Now you can see why we have lost so many of our manufacturing. Then they have to put up with our own government taxing them so high they move away. Can you see what Trump is seeing with trade? We finally have a business man that knows what is needed to keep jobs here.

 

I remember it well. I spent a lot of time in Japan in those days. I think your article is a little dated.
But I do remember seeing the same SONY TV I had just bought in the US for $2200 on sale in Tokyo for about $2250. And I can remember wanting them to change from some Japanese chips to US chips in the product I made and they didn't want to because they were not made in Japan.
Interestingly televisions are no longer made in Japan. Why do you think that is.
And almost all the chips are assembled in Taiwan.
But in reality the whole thing is summed up pretty well by your article.

Moral of the story:
Protectionism does not work.

PS. I finally got rid of the good old SONY a few years ago and replaced it with some Korean TV for $250.

 

I don't know how you can say protectionism doesn't work, it worked quite well for Japan. They kept much of our products out. Yes, they moved some of their production to Taiwan and etc. for cheaper help. But they still own the companies. Still using their billions to buy up more American business.

 

Japan has no tariff on US cars. They just don't like them or the way we want to sell them.
https://www.theatlantic.com/business/archive/2017/11/us-cars-japan/544991/

 

As an example of a consumer "protection" law really created to prevent foreign competition in Japan, one may look at the auto industry. All non Japanese cars which enter Japan today must be "safety-tested" by Japan for "safety to the consumer". The fee for this "safety-test" is several thousand dollars PER CAR imported and must be borne by the importer (and consequently the buyer) of the car. Cars made by Japanese companies (even if they originate from foreign Japanese plants such as the US Honda Accord plant) are exempted from the inspection and the fee as Japanese car companies are permitted to "safety" their cars themselves at their factories. The result of this practice is to make the prices of non-Japanese brand cars uncompetitive against Japanese brands sold within Japan. This law adds upwards of $5000 to the price of each US car for sale in Japan. [New York Times/CNN 12/25/92]. To further discourage non-Japanese car purchases in Japan, auto insurance rates for non Japanese brand cars in Japan have been rigged by auto producers (who own many of the insurance companies) to be three times higher than rates charged for equivalent Japanese brand cars [Agents of Influence p156]. It is these practices and laws (and not that the steering wheel is on the wrong side) that prevent US car companies from making headway in the Japanese market. Both GM and Ford ship cars to Japan with the steering wheel on the correct side for Japanese roads [Agents of Influence p156].