If a millionaire pays let's say 10% of his income then he would be paying 100,000. If someone making 40,000 per year pays 10% they would be paying 4,000 dollars. Seems about as fair as it could get. They are both paying their fair share if they're paying the same percentage. BTW, why does anything that happens that you can see with your own eyes become an anecdote?
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Utah is also thriving thanks to conservative leadership. Not easy to do when 66% of the land here is owned by the Federal Government and the environmental whackos continue to try to lock up even more.
They are paying exactly the same percentage of their incomes. God sure thought it was fair when it came to tithing. Once again, I will trust what I've seen with my eyes for 58 years over a study in a lab. Numbers and studies can get a bit twisted towards a favorable pattern.
The best thing about globalization is why Raouls ideal situation will never happen. 80 years ago there were maybe 10 world class cities and people had to be there to enjoy many of societies best entertainment, social functions, and benefits.
Now there are 100s and 1,000s of these cities across the world. You see it with California businesses fleeing to Texas and NYC businesses flocking to FL. The relative similarity in these world-class cities creates the exact competition that true capitalism thrives in.
If a city, state, or country wants to continue succeeding at creating demand it has to compete with other governments to draw those people and businesses.
As usual, competition and free markets provide the best services and opportunities for people while driving down costs. Which is why Texas and FL are thriving while CA and NY are losing their tax base and mired in deficits.
No city or state (and soon country) will ever be able to implement these wealth distributions and ridiculous taxes because people are more mobile than ever and new generations are not tied to a specific “home”. They will implement these taxes and everyone rich will leave to a place that is competing for their tax dollars to be spent in the way that is best and most advantageous for them.
You’ve already got poorer nations opening their arms and making it incredibly easy to move there as long as you have guaranteed income and can contribute positively to their economy.
Want To Live And Work In Paradise? 7 Countries Inviting Americans To Move Abroad
A number of countries are luring remote workers who want to escape from the US and live the dream.
My wife and I had nothing when we met. Neither of us have inherited as much as a dime from our Dads that died and both our Mom's are in a home with no money. I was a roofer and she was a clerk that worked her way up over 25 years to running a mortgage company with no college education. We both worked hard and saved and sacrificed to our children over the years to put money away and still live within our means. My wife has invested wisely and we are now in a somewhat comfortable position. There is a reason why some accumulate wealth and others don't. Maybe it should be a lesson to children to see the difference between parents that blow what money they make by bad decisions and those that decide to save even just a little towards their family's future. You would do nothing more than penalize success by taxing them more. It's no different than the Dem cities that are looking for bailouts right now simply because of their poor policy decisions that they make that lead them to such huge budget deficits. Why should the good people of Utah, that spend their budgets wisely, be expected to pay for the mistaken policies of places like San Fran, Chicago, Detroit and so on? There are and should be consequences to bad decisions.
You know what doesn't work 100%? Taking from the Government as a handout and trying to do wealth redistribution. Don't need a WAPO graph for that one.
EXACTLY! My dad died when I was 16. He left mom with 4 kids I was the eldest. She never worked a day in her life as was common in the 1960's. I joined Navy at 17 and when I got out in 85 I had maybe a few hundred bucks in my pocket. Met my wife and we worked AND SAVED and INVESTED and LIVED WITHIN OUR MEANS. Raised 3 sons to do the same. Now I will turn 59 and I still follow the same rules that got me where I am today. I tell young people all the time; When you get paid put the first 10-15% away and save it then use the rest for your bills and enjoyment and watch how fast it builds up. Once it builds up you hate to see it go down. Many on here would benefit from reading the book The Millionaire Next Door which details how these people live who have a net worth of 1 million and up. They would be surprised.
Capitalism isn't about becoming a millionaire it's about an honest opportunity to better one's life and provide for themselves and their family. In many Countries that is just a dream.
That's weird Raoul that is exactly what we told our parents.................40 years ago. Don't know about you but I have 3 sons 32, 31, and 28. They are humping and saving.
Why is everything that happens right before our eyes labeled as anecdotal? Would you like a more recent example? Our niece had to live with us on two separate occasions. Her mom was a crack addict and was in jail a few times. We had her for 8 months when she was 6 and we still lived in Fl and for nearly two years after we moved to Utah when she was 12 to 14. She ended up moving in with her Father's other baby momma's house when she went back to Fl. By then her Mom was deported back to Canada and is still not allowed back in the US. Our niece never knew her father but lived with her half-siblings until she was 19. She kind of went from job to job and began drinking and using drugs herself for a bit. She met a guy and they had a son but the guy went to prison shortly after. Now she was single with a kid and really struggling. 4 years later she had a daughter with another guy and started settling down a bit more. They are still together. At 33 years of age she started going to nursing school and eventually became an ER nurse. She currently is one of the travelling COVID nurses and was just featured on a local news station in Amarillo a couple of days ago. This amazing young woman had every right to become a failure but instead became yet another American success story, er anecdote, through nothing more than her determination to make her and her kid's lives better. I guess where some see insurmountable obstacles, others see a challenge to overcome.
There are those that study for a living that tend to skew results to whatever view they have. There is also a saying that goes, There are lies, damned lies, and statistics. I'll still trust what I've seen with my own eyes over 58 years. Nobody said that success is easy, just that is is available for those that are willing to work for it. Our niece got her ER license just 2 years ago, BTW.
Good for her. Some have a MUCH harder path for sure. She may never become a millionaire but she is living the American Dream. You must be very proud of her.
Very proud HJ. They even made her the boss of the ER nurses in Amarillo for a day and now are trying to hire her there. Not sure she wants to leave her home in Ft Myers though and she enjoys doing the travelling nurse thing because of the need right now.
