AOC wants 70% tax on wealthy

Discussion in 'West Mall' started by Horn6721, Jan 4, 2019.

  1. Mr. Deez

    Mr. Deez 10,000+ Posts

    I took antitrust in law school, and believe it or not, they don't really get into that issue very much. They just drill the Sherman, Clayton, and FTC Acts and the case law into us. How monopolies happen is certainly part of the equation, but that's all determined by legal guidance that has been on the books for decades or longer. The economics angle is something Congress needed to study better when they wrote the laws, but of course, if Congress actually considered real economics when writing its laws, probably 80 percent of the laws wouldn't exist.
    • Agree Agree x 3
  2. Mr. Deez

    Mr. Deez 10,000+ Posts

    As one of my accounting professors said, the biggest reason for the S&L crisis was that we only deregulated one side of the balance sheet. We need to get rid of the bailout mechanisms, including the FDIC and comparable programs. So long as the government will protect banks and their depositors from major losses, you're going to see irresponsible behavior.
    • Like Like x 1
  3. ShAArk92

    ShAArk92 1,000+ Posts

    I don't believe that will happen HHD. Collectively, we are losing our ability to reason and we're losing what's left of any commitment to continue the Great Experiment. I believe the odds are against Trump's re-election. In fact, the GOP may even break with tradition and seek to unseat his claim as the presumptive nominee.

    I expect to see globalists prevail next year like we've never had before.

    elements are aligning which will soon fulfill the rest of Biblical prophesy, methinks. It's gonna happen REALLY fast.
  4. ShAArk92

    ShAArk92 1,000+ Posts

    Aye ... and when the appraisals are so far from reality they actually result in increased liability despite significant rate cuts ...

    Lucy ... we have a problem. IDK where you are, NJ, but if in Texas, your CAD isn't "aggressively seeking to make market appraisals"

    The 256 CADs are told by Austin what their counties are worth ... and their job is substantiate those county appraisals from the Comptroller's office. So there's some give and take, but ultimately, the State is directing how much tax is paid. Those properties which are sold/change names on the deed ... they get schellacked. Those values are resetting what was lost in previous deferred markups.

    The entire notion of taxing property is a scam and has no integrity in a system which has any commitment to individual freedom.

    Two things which drive me koo koo for kokoa puffs about our otherwise Beacon of Liberty in the Lone Star State; property taxes and mineral rights.
  5. ShAArk92

    ShAArk92 1,000+ Posts

    I too agree with this, but would rather that be filled with a sales tax.

    Nevermind the fact the Federal Govt is supposed to be supported with tariff and duty ... no drag on the citizenry, but funded from the juggernaut economy drawing foreign participation. (It's converted the chi coms ... who is the greatest "participant??")
  6. Phil Elliott

    Phil Elliott 2,500+ Posts

    AOC can get away with saying anything because she is a Dem:

  7. Clean

    Clean 5,000+ Posts

    Wasn't the FDIC created during the Great Depression to keep people from losing their life savings when their banks failed? Why on earth would we want to do away with it?

    I've known some old folds (my grandfather for one) who kept their money hidden around their houses because they didn't trust banks ,even with FDIC.
  8. ProdigalHorn

    ProdigalHorn 10,000+ Posts

    • Winner Winner x 1
  9. ShAArk92

    ShAArk92 1,000+ Posts

    we've got to get away from this mindset the government CAN insure anything. All the govt can do is take and redistribute. When the taking is for proper redistribution tasks, it works ... great.

    But there can be little argument that govt where it's not supposed to be ... is ALWAYS a disaster; financially and effectively.
    • Like Like x 1
  10. Horn6721

    Horn6721 Half of seeming clever is keeping your mouth shut.

    I bet her supporters think it is cool she used a sexual term . Waiting for the feminists to march and protest against her.

    Also she tried to make a big deal of trying to "visit" McConnell's office but went to the wrong offices.Also she and her horde did not do the protocol thing of alerting McConnell. IF she had she might have been given the right address.
  11. Phil Elliott

    Phil Elliott 2,500+ Posts

    You're gonna be waiting a while - bring a chair.
    • Funny Funny x 2
    • Agree Agree x 1
  12. bystander

    bystander 5,000+ Posts

    I think we should keep FDIC insurance because of the psychological comfort it provides. But the government should heavily regulate the banking industry so that OUR assets are not at risk of having to be bailed out by the insurance.

    That's just a sketch of my core belief.
    • Agree Agree x 1
  13. nashhorn

    nashhorn 2,500+ Posts

    Agree, agree,,,,,,and agree. Or I'd say we have lost all reasonability.
    • Like Like x 2
  14. bystander

    bystander 5,000+ Posts

    We are still transitioning from the grave errors of the Great Experiment. The emotional impact of our past continues to resonate in a negative manner in some and as a political tool in others. A true progressive would see equity as the goal and not revenge or bitterness. You cannot govern in a highly emotional state. It may take another 50 years for a true content of character society until everyone who was directly impacted by Jim Crow laws have passed on beyond the void.

    The legacy of activism is alive and well as it should be. But it is not direct action as defined by Dr. King. He clearly had no use for angry people. They were instructed to purify themselves or else stand aside. He understood that love makes friends of enemies. How naive yet how effective at the time. Now we only have a latent fit of recourse exhibited by those who have gained power and they have no intention or emotional ability to move forward as a union.
  15. HornHuskerDad

    HornHuskerDad 5,000+ Posts

  16. Monahorns

    Monahorns 2,500+ Posts

    Uh. The government already heavily regulates the banking industry. It even dictates how they run their business in many ways. It is the source of the many problems we the people suffer at their hands. But you want the government involved more? It strains credulity.

    Plus, that isn't the way regulations really work. If you read the article I posted. Regulations are what happens when the government and industry make deals together. They are there to enrich and empower themselves at everyone else's expense. That is the overwhelming historical record.
    • Like Like x 1
  17. Mr. Deez

    Mr. Deez 10,000+ Posts

    Clean, the problem is the bad incentives the FDIC creates. By guaranteeing the depositors' funds, the banks are going to be sloppier with their money than they'd otherwise be. And of course, depositors are going to be sloppier at choosing banks. I understand your point, and from a political standpoint, dumping the FDIC is out of the question. People want their deposits secure, and nobody wants runs on banks when they fail. However, it does aggravate the problem.
    • Like Like x 1
  18. Joe Fan

    Joe Fan 10,000+ Posts

    Now the 70% tax wont matter, since we will all be dead anyway

    • Funny Funny x 1
  19. Clean

    Clean 5,000+ Posts

    AOC is an idiot, but she may be on to something. In seven years she'll be able to run for President. If she gets it, I believe her stupidity probably could end the world in about five years. So, yeah, 12 more years! It's not looking good.
    • Funny Funny x 5
    • Hot Hot x 1
  20. Phil Elliott

    Phil Elliott 2,500+ Posts

    Thomas Sowell has a quote that goes something like this, "It is usually pointless to argue facts and analytics with someone who is enjoying the morality of their ignorance." It fits AOC perfectly.
    • Like Like x 4
  21. Seattle Husker

    Seattle Husker 10,000+ Posts

    AOC is the Dem version of Trump. Both live on Twitter and revel in trolling. Neither are fit for politics, IMHO.
    • poop poop x 1
  22. Horn6721

    Horn6721 Half of seeming clever is keeping your mouth shut.

    Are you willing to admit the actual benefits that have resulted in employment for blacks, hispanics, women, vets at higher levels than for decades? How about opening opportunities for business in inner cities? How about prison reform?
    How about better care for our vets" How about billions of corporate dollars being repatriated? etc etc
    Are you willing to admit those have happened?
    If Trump is not fit to be a politician then :yippee::bounce2::bounce1::yippee:

    I don't expect you to be able to admit there have been any good things happen.
  23. horninchicago

    horninchicago 5,000+ Posts

    Probably not, and she is also just like Trump since she has been successful in business and TV. Odd considering she says an economic system that allows billionaires is immoral.
    • Funny Funny x 1
  24. Horn6721

    Horn6721 Half of seeming clever is keeping your mouth shut.

    Someone should remind AOC Gore already predicted that OVER 12 years ago.
  25. Seattle Husker

    Seattle Husker 10,000+ Posts

    You are the king of strawman arguments. Stake out an extreme position for the opposition...rinse repeat. You're not actually interested in a bonified debate or learning an opposing view. If so, i suggest not starting a leading question by vastly misstating your opponents view with egregious strawman arguments.
  26. Monahorns

    Monahorns 2,500+ Posts

    AOC has already explicitly stated that she doesn't care about facts. She said they are just details that other people we work out. She is focused on the morality of her argument. So Phil, you hit the nail on the head.

    The Left has created this New Morality coming out of Cultural Marxism and Victimhood. She is a prophet of this New Morality. She is like a modern day Jeremiah. Just without God and truth and stuff.
  27. Horn6721

    Horn6721 Half of seeming clever is keeping your mouth shut.

    Now this is funny
    "i suggest not starting a leading question by vastly misstating your opponents view with egregious strawman arguments."
    I don't think you know what egregious OR strawman actually means

    What is misleading in any of the actual results I listed above?

    Ok SH I will ask in another way. What do you think a Politician should do?
    Last edited: Jan 22, 2019
  28. Horn6721

    Horn6721 Half of seeming clever is keeping your mouth shut.

    Is this man a "Politician"
    "Rep. John Yarmuth, D-Ky., did just that in response to the non-story sweeping the nation over the weekend of Catholic students from his state allegedly disrespecting a Native American veteran on the steps of the Lincoln Memorial — the media’s version of the story failed to hold up as additional footage came out.

    “I am calling for a total and complete shutdown of teenagers wearing MAGA hats until we can figure out what is going on. They seem to be poisoning young minds,” Rep. John Yarmuth tweeted Sunday morning."
  29. BevoJoe

    BevoJoe 5,000+ Posts

    Good point! Most election of the Congress folks seem to be more of a "beauty contest" and not about what actual skills and knowledge the candidates actually possess.
    • Like Like x 2
  30. BevoJoe

    BevoJoe 5,000+ Posts

    I have relatives in east Texas that still do that. They don't trust banks and trust politicians even less. When you look at the debt crisis, when that bubble breaks, we're all going to need portable wealth.

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