Archives for posts with tag: Trickle down economy

American Society Was Built for Populism, Not Elitism
“Technocrats and elites insist that centralized control is best.
Nature and history prove them wrong.”

Karl Zinsmeister, WSJ

Really?

“Tax billionaires out of existence?!?”

And what would be accomplished by doing that?

‘Yet another ‘trickle down theorist’…’

Nope!
Trickle down is an idiocy. It doesn’t work.
Just like ‘taxing billionaires out of existence’. It has been experimented, you know…
It was called communism by those promoting this brilliant idea. So brilliant that it burnt down every society which had tried it.
I lived under communist rule. I know.
There isn’t much difference between all money being controlled by the state/government and too much money being controlled by a handful of billionaires! Meaningful decisions are still being made by a too small number of people…

Yes, taxes are useful.
Besides gathering money to be used, by the government, for the common good.
My point being that taxes are an expression of how a society sees money.

That’s what’s needed. Decision makers who do not put money over everything else!
Any attempt to ‘tax billionaires out of existence’ is already an abuse of power.
Doing it before the society changes its understanding of the matter would be worse than a crime. It would be a horrible mistake.

High marginal taxes accomplish two things. If no loopholes are allowed.
Balance the budget and change the minds of the decision makers. ‘CEO’s’ as well as shareholders.
Convince them to reinvest a bigger share of the profit. Which makes it possible for the company to become more efficient. Which makes it possible for the company to increase wages.
Balancing the budget with money brought in by taxing the high earners makes it possible for the politicians to lower the taxes paid by the Regular Joes. Which would improve their status, their self esteem and their buying power!

Blaming a section of the society for something which needs to be dealt with in concert, by all the members of a society, is counterproductive. To say the least.
It does nothing to solve the real problems and it deepens the already existing rifts.

Blaming the billionaires for what’s going on – for everybody being obsessed with money – is in no way different from blaming the immigrants for most of the people being unsure about tomorrow.

Billionaires, as well as the immigrants, should be ‘exploited’ rather than driven into disappearance.
Each of them are very good at what each of them are doing.
The difference between them consists in the fact that the billionaires set their own wages.

Wages, all wages, are paid by us. By the consumers. Hence it is us who should determine how much each people should get. We, not some of those getting our hard earned money!
How are we going to accomplish that?
Making sure that the market remains free. Functionally free as opposed to controlled by a small number of people. No matter where they come from. The Government, as in communism, or a collection of monopolies. As in oligarchic capitalism.

https://www.justice.gov/atr/antitrust-laws-and-you

“Every morning, the CEO of a large bank in Manhattan walks to the corner where a shoe shine is always located.

He sits on the couch, examines the Wall Street Journal, and the shoe shine gives his shoes a shiny, excellent look.

One morning the shoeshine asks the Executive Director:

– What do you think about the situation in the stock market?

The Director asks in turn arrogantly:

– Why are you so interested in that – that topic?

“I have a million dollars in your bank,” the shoeshine says, “and I’m considering investing some of the money in the capital market.”

– What your name? –Asks the Director.

– John Smith H.

The Director arrives at the bank and asks the Manager of the Customer Department:

– Do we have a client named John Smith H.?

– Certainly –answers the Customer Service Manager–, he is a highly esteemed customer. He has a million dollars in his account.

The Director comes out, approaches the shoeshine, and says:

– Mr. Smith, I ask you this coming Monday to be the guest of honor at our board meeting and tell us the story of your life. I am sure we will have something to learn from you.

At the board meeting, the Executive Director introduces him to the board members:

– We all know Mr. Smith, who makes our shoes shine in the corner; But Mr. Smith is also our esteemed customer with a million dollars in his account. I invited him to tell us the story of his life. I am sure we can learn from him.

Mr. Smith began his story:

– I came to this country fifty years ago as a young immigrant from Europe with an unpronounceable name. I got off the ship without a penny. The first thing I did was change my name to Smith. I was hungry and exhausted. I started wandering around looking for a job but to no avail. Suddenly I found a coin on the sidewalk. I bought an apple. I had two options: eat the apple and quench my hunger or start a business. I sold the apple for two dollars and bought two apples with the money. I also sold them and continued in business. When I started accumulating dollars, I was able to buy a set of used brushes and shoe polish and started polishing shoes. I didn’t spend a penny on entertainment or clothing, I just bought bread and some cheese to survive. I saved penny by penny and after a while, I bought a new set of shoe brushes and ointments in different shades and expanded my clientele. I lived like a monk and saved penny by penny. After a while I was able to buy an armchair so that my clients could sit comfortably while cleaning their shoes, and that brought me more clients. I did not spend a penny on the joys of life. I kept saving every penny. A few years ago, when the previous shoe shine on the corner decided to retire, I had already saved enough money to buy his shoeshine location at this great place.

Finally, three months ago, my sister, who was a whore in Chicago, passed away and left me a million dollars.”

Somebody sent me this as a Whatsapp message.
I looked it up and shared it with you for a very simple reason.

We all know Mr. Smith, who makes our shoes shine in the corner; But Mr. Smith is also our esteemed customer with a million dollars in his account. I invited him to tell us the story of his life. I am sure we can learn from him.