The end of US style capitalism

[mobulis]

@Snow96

@moonshine

1)the government gets a 33% stake in the company

10% at most – non voting shares. Congress restricted from passing any laws that effect operation of companies they own a stake in, and no congress critter can hold a stake through any means (and immediate family) that the federal government has a stake in.

@moonshine

2. the current top executives forfeit all pay and stock awards they have received for the past 5 years

How about a hard no. Executives will receive competative pay compared to ALL companies in the industry they are in.

@moonshine

3. the ceo if fired with no severance and no deferred payment. they are also banned from running any public company for 5 years

NO.

So no penalties for poor performance. Got it.

[Oryx]

@Optrader

Minimum wage jobs were never intended to be long term jobs for people.

Intended by who? Regardless of intentions, they are long-term jobs for many people.

[mobulis]

@Optrader

@Oryx

@Optrader

Get a better job. Or maybe two if necessary.

Two full-time jobs at $7/hour is about $2,000/month, before taxes. The median monthly rent in the US is about $1,000. I don’t see how anyone survives on that.

Minimum wage jobs were never intended to be long term jobs for people.

So what, we have to deal with reality as it is not as it was intended.

[mobulis]

@WCD9973

Here is a different idea.
System isnt broken.

I know -No one will agree with me. But its not. Our PRIORITIES are broken. But not the system.
Somehow - a large number of people agreed with Trickle down Economics so much, that it drove them to always vote the same way regardless of what facts and evidence have shown over the past 40 years.

The system did what it was designed to do - Change to reflect what a majority of voters wanted the society to look like. So the result was a widening wealth gap, lower and lower and lower taxes, a permanent wealth class, a permanent lower class, little movement between, etc…etc…
Its not the system that broke. Its us that broke.
If we decided the priorities are different, If we decide that we want a bigger safety nest for individuals, regulation that still rewards innovation and allows market to pick winners and losers, but a true progressive tax system that priorities a safety net for individuals and a trickle up economy, not a trickle down - We can fix it.

Again - Not socialism but also not MORE reduction in taxes. Capitalism was alive and well in the 50’s and 60’s despite MUCH higher taxes for rich individuals and corporations.

US style Capitalism has not failed. Our priorities and belief in Trickle down economics failed.

But the primary reason for that was that ever other first world’s infrastructure was devastated by WWII and ours was not.

[Snow96]

@Auto129

I doubt it. Universal healthcare would help more people achieve their dreams, for example. Consider how many homeless folks are destitute on the street with lack of psychological help/medication as a contributing factor.

And with no job they ALL qualify for free healthcare (medicade/medicare/disability). Lets ALL go on that system.

[Snow96]

@Oryx

How does someone making $7 an hour survive in the US in 2020?

All depends on where they live. Utah hasn’t raised the min above the fed rate. Here where I live in Rural Utah even Mcdee’s and BK starts at 10 bucks an hour. That’s more than enough to live on here.

[Snow96]

@sikofit

Seriously. How many people getting paid minimum wage does it take to equal a single executive giving himself a million dollar bonus

How many of those minimum wage earners are supervisin multi million (sometimes billion) dollar budgets, supply lines and that, cost for goods, employment levels and all that other fun stuf?

[sikofit]

@Snow96

@sikofit

Seriously. How many people getting paid minimum wage does it take to equal a single executive giving himself a million dollar bonus

How many of those minimum wage earners are supervisin multi million (sometimes billion) dollar budgets, supply lines and that, cost for goods, employment levels and all that other fun stuf?

Doesn’t matter. Nobody should be getting million dollar taxpayer funded bonuses

[Snow96]

@Oryx

Two full-time jobs at $7/hour is about $2,000/month, before taxes. The median monthly rent in the US is about $1,000. I don’t see how anyone survives on that.

How much federal tax are they paying on that? How much earned income rebate are they getting? How much in food stamps? How much in child care payments? Are they in subsidized housing?

[SixFoot]

Gave me a laugh. lol

[Oryx]

@Snow96

@Oryx

How does someone making $7 an hour survive in the US in 2020?

All depends on where they live. Utah hasn’t raised the min above the fed rate. Here where I live in Rural Utah even Mcdee’s and BK starts at 10 bucks an hour. That’s more than enough to live on here.

$10/hour on a full-time job is $1,600/month before taxes. Meanwhile:

The median monthly gross residential rent in Utah was $986 in 2017 according to the Census ACS survey.1 Average gross rent was $1,014 in 2017 .

Are you sure that’s “more than enough to live on”?

[Snow96]

@sikofit

How did the rich survive in this country when they were being taxed at a much higher rate than they are now? That talking point is extremely weak

Okay, lets roll everything back to how it was in the 40’s/50’s. You know technology, social stuff, wages, taxes . . . . transportation . . . everything.

[Snow96]

@mobulis

So no penalties for poor performance. Got it.

Okay then . . . what penalties for individual who continually need government support?

[Oryx]

@Snow96

How much federal tax are they paying on that? How much earned income rebate are they getting? How much in food stamps? How much in child care payments? Are they in subsidized housing?

Let’s pretend they pay $0 in taxes and pay half their money to rent, which is the median rate. Is $1,000/month enough for a person to live on in the US in 2020? Maybe, but I wouldn’t want to try it.

[Snow96]

@Oryx

The median monthly gross residential rent in Utah was $986 in 2017 according to the Census ACS survey.1 Average gross rent was $1,014 in 2017 .

Here where I live, you can rent a 3 bed home for 500 a month. Apartments go for 400 a month.

[sikofit]

@Snow96

@sikofit

How did the rich survive in this country when they were being taxed at a much higher rate than they are now? That talking point is extremely weak

Okay, lets roll everything back to how it was in the 40’s/50’s. You know technology, social stuff, wages, taxes . . . . transportation . . . everything.

What? ROFL! That is simply ridiculous. What does an improvement in technology have to taxes on the rich. If they were able to get by in a low tech world they should be able to do the same with better technology.

When will the ultra-rich catch a break in America?

[Oryx]

@Snow96

@Oryx

The median monthly gross residential rent in Utah was $986 in 2017 according to the Census ACS survey.1 Average gross rent was $1,014 in 2017 .

Here where I live, you can rent a 3 bed home for 500 a month. Apartments go for 400 a month.

That seems like an outlier. Where do you live?

[Snow96]

@sikofit

What? ROFL! That is simply ridiculous. What does an improvement in technology have to taxes on the rich. If they were able to get by in a low tech world they should be able to do the same with better technology

You want higher taxes that “were not an issue back then” . . . then why not roll EVERYTHING back to what it was when the tax on the rich was extremely high? Why only one thing? They survived high taxes, everyone else survived everything else.

[Snow96]

Rural Utah. Go up in the big city (salt lake/ogden/provo) and you pay a fortue. Go down to St. George you pay a fortuen. Most of rural utah is still extremely affordable. Remember, median means half the rent is lower than that, and half the rent is higher.

[sikofit]

@Snow96

then why not roll EVERYTHING back to what it was when the tax on the rich was extremely

Because that suggestion is so beyond ridiculous its astounding. There is no reason the rich can’t prosper now with the same rates that they did back then