- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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What a disgusting shithole america has become.
Become? They call it the American dream because you gotta be asleep to believe it.
I miss George
preech choombata.
Tukeyá, beltalowda?
Yeah, it was started by rich people looking to increase their wealth and influence and has remained under their control ever since.
The American Dream has morphed into this “anyone can be rich” idea.
When I was a kid, it was a house and two cars.
Which is basically a multimillionaire in today’s standards. Unless you mean two junkers and a house in the hood. I’m not opposed to the latter but it’s hardly anyone’s first choice.
You’re being very hyperbolic. We have a house and two cars. I have around $200 in my bank account. Admittedly, it helps that we do not live in the most desirable part of the country, but we also live paycheck-to-paycheck and have not even ever been hundred thousandaires.
You can’t be poor and achieve it, but you don’t have to be rich either.
I feel you. I have my house in the hood with my two Hondas.
Shit should not be this difficult.
A $200,000 home isn’t luxury but it also isn’t the American dream.
I didn’t mean to suggest that. Housing prices and car prices are ridiculously and unnecessarily high. I’m just saying that the American dream has morphed into something that at least a large proportion of the population can even now achieve into something that almost no one can achieve.
It’s only going to get worse. Money buys elections and Putin, along with American oligarchs have a lot to spend on getting their desired results.
You mean AIPAC.
Yet it remains one of the happiest countries in the world. I’m not saying we don’t have our problems, because we clearly do, but the idea that the country is a “shit hole” is just baseless nonsense.
More needs to be said about taxing the wealthy. 70% for every dollar over 10 million. Wealth tax for those hoarding wealth in stocks.
You are way too generous.
Some own islands, land, mansions, art, bonds, cars, boats.
Not generous, but not thorough. Don’t ask me to write the bill!
Fuck 70. It was 91 after WWII.
I read somewhere that that was literally only for a single person. But the fact that taxes were used to aggressively trying to curb wealth hoarding is something we need to look at today
Till we close the loop holes for these billionaire foundations buying elections (i.e. the Koch network) - billionaires will continue to tip the scales their way. Courts also need to be 10 year appointments, not life time.
Trump is such a shit stain
It’s not just billionaires. If you put any amount of money into the S&P500 in Jan 1 2017, it would be worth more than twice as much today.
But is it really fair that a person with 50 million can turn that into 100 million, whereas most people can turn at most $5,000 into $10,000?
Earning $5,000 over 7 years is basically worthless.
The median 40 year old has retirement savings of $45K, not $5K. And the median 70 year old has savings of $200K. In both groups, doubling the amount is quite significant.
Using median makes it a loaded statistic skewed in favor of the minority (in this case, the wealthy).
Over half the country is living paycheck-to-paycheck, so that median number is already in the ‘well-off’ category by default, making them irrelevant to the main point of discussion.
Is that true? Median is literally taking the value in the middle. So if there are 30 million 70 year olds then it would be picking the 15th millionth person and using their savings.
You have it backwards. The mean, not the median, is skewed by outliers.
If there are ten people in a room with $100 and one with $1000, the median is $100 whereas the mean is $200.
Jesus Christ those are pathetic numbers for retirement at those ages.
Got to eat. Retirement is gone, and your 401k is nothing more than a subsidy so you can work part time as a greeter until death.
But is it really fair that a person with 50 million can turn that into 100 million
Yes.
And since that can only happen by investing that amount into the economy, it’s wisely encouraged by the system, versus putting the 50 million in a vault somewhere.
The fact that you can’t see how this is a huge flaw in, at the very least, the American form of capitalism is sad.
You think it’s sad because you’re deeply ignorant. Do you also think that if the $5 baseball card you bought becomes worth $100, that that means you’ve stolen $95? lol
They are not investing it into the great magical economy. It’s in hedge funds that actively destroy the economy.
Wealth is not the same as liquid assets
Liquid assets are a type of wealth. For many people, liquid assets make up the biggest part of their wealth.
No, they don’t. Liquid assets don’t increase in value. If they had $1 in cash seven years ago, it would be worth less than that today due to inflation.
Stocks are liquid assets. They can increase in value.
T-bills are also liquid assets. They can also increase in value.
Savings accounts and money market accounts are also liquid assets. They can also increase in value.
I’m pretty sure that liquid assets are things that you can spend, so cash and bank accounts. Anything that you have to sell to buy things is not a liquid asset. (Note that we are not talking about barter. I had a friend at college who traded a snake for a VW camper, neither of which would be considered a liquid asset. Even though technically you could put the snake in a giant blender…)
When you’re a billionaire, most of your net worth comes from businesses you own, not liquid assets.
Billionaires are far more likely to own part of a business than 100% of a business. And if you own stocks, then you too own part of a business.
The New Bad Deal.
Rich get richer and everyone gets fucked on their taxes while dealing with crazy high inflation.
Thanks GOP! YOU GUYS REALLY KNOW HOW TO GOVERN
USA USA USA
But what for? Even with the toys of millionaires (yachts, villas), over a few 100 millions it’s only a number.
They don’t just buy toys. They buy laws, politicians, service, deference, control, luxury, immunity…
When you have that much money everything is for sale and people will kiss your ass to sell it to you.
Still waiting for that trickle down.
Why hasn’t Biden done anything about the Tax Cuts and Jobs Act?
Congress is more in charge of taxes and budgets, not the president. However, it would seem Democrats in general want to use this for the upcoming elections (along with nearly everything they promised last election).
Because he isn’t a dictator.
Yeah but what has Biden done about the heat death of the universe? I’m just saying, the man is the President.
I don’t know, but gas prices have been creeping up, so he must have accidentally leaned on the ‘gas prices’ lever in the Oval Office again.
