If you're voting for the Democrats, you're already on board with this progression, but if you're voting for the GOP, you are also onboard, and only pretending you're not. Think about whether or not that bothers you...
So what! There is a maximum contribution, and a maximum benefit. The wealthy, who remain wealthy once they’ve maxed out their contribution, will pax incomes tax on their social security benefits equal to the tax on their other income. None of this changes the fact that Social Security is the definition of a Ponzi Scheme, and if operated by any entity other than the Federal Government would be a crime. The whole discussion of rate of contribution is just a smoke screen designed to make the ignorant look the other way.
@DLRogKingston And your evidence for your claim that technology leads to authoritarian control? I would say that there is plenty of evidence that the opposite is true.
I can’t agree. Concentrating power in the “Ruling Class,” has never led to a happy outcome for the “working people.” Inevitably the opposite, with the people becoming the dependency class. The system that inevitably leads to less poverty and hardship for the workers is the one that allows them to keep what they earn, with rulers telling them what’s best for them. AKA “Free Market Capitalism.”
“No es la bondad del comerciante lo que alimenta a la sociedad, sino la libertad para perseguir su propio interés dentro de reglas justas. Cuando el poder suplanta al mercado, la prosperidad se apaga”
- Adam Smith -
@RightScopee No. Elon Musk’s estimated stock holdings have ZERO impact on your life or mine. Well, maybe your jealousy meter ticked up, but other than that, nada.
For every problem, there’s a politician with a “solution.”
To boost homeownership, Presidents Clinton and Bush had the government subsidize mortgages.
The result? The Great Recession.
Politicians continue to make the same mistakes:
EL GRÁFICO QUE EL KIRCHNERISMO NO QUIERE QUE VEAS:
A mayor libertad económica, mayor PBI per cápita. Sin excepción. En todos los países. En todos los continentes. En todos los contextos históricos.
No es ideología. Es correlación verificada por Heritage Foundation y el FMI.
Durante 20 años nos vendieron que el Estado era la solución. El gráfico dice exactamente lo contrario.
Milei no inventó nada. Solo leyó los datos. @JMilei
You need to loosen your cultural-appropriation hat, Climate. The amount of misunderstanding of the world displayed in your post must be the result of too little oxygen to your brain. Or is your level of comprehension of market economics a result of some trauma during birth? If so, you have my sympathy. You still shouldn’t post such laughably infantile nonsense, but I’m sympathetic…really…
The reactions to the initial success of the SpaceX I.P.O. is a fascinating circus. What shocks me is the amount of absolute idiocy displayed. It confirms to me that loud voices get attention, regardless of facts or logic, and that the amount of class envy, jealousy, resentment, and tribalism stoked by popular misconceptions knows no limit. What sort of absolute moron believes for one second that the government confiscating more of someone else's earnings will somehow benefit them? Our brilliant lawmakers have already collected north of $80 Trillion, and spent over $125 Trillion so far this century. You think another trillion or two taken by force from a few rich guys is going to make one iota of difference? No need to answer. Your foolish post says enough...
You’ve worked 37 years and somehow concluded, like a third grader, that a stranger’s stock portfolio is the reason you have no savings. That’s not an economic argument. That’s infantile reasoning, and it’s the kind that typically gets corrected in middle school. I’ll give you the benefit of the doubt, since you must have been home sick that day:
Musk didn’t take your money. People freely chose to invest in his companies with their own capital. None of it was yours. His wealth didn’t come out of your paycheck, your retirement account, or your future. Wealth is not a finite pie where someone else’s slice shrinks yours. That’s a child’s understanding of economics.
Oh, and since you’re being educated, he also doesn’t “have” $1 trillion. He owns shares in companies with an estimated aggregate value. If he tried to liquidate them, the price would crater. It’s like someone appraising your tricycle at $1M. Until a buyer agrees and pays, you’re not a millionaire. You’re just bad at arithmetic.
37 years of work with nothing saved is a personal finance problem. It has a cause. That cause is not “someone else built successful companies.”
The jealousy is understandable. The logic is embarrassing. You’re envious, but the real culprit stares you in the mirror every morning, if you care to look.
Also: you’re complaining about Elon Musk on Elon Musk’s platform.
The irony apparently escaped you along with your retirement savings and economic literacy.
@ProfCarlSagan Why do you care? You’re already dead! Give the rest of us a break from the guilt-trip shit, will you please now that you’re no longer exhaling CO2? We’d like to continue for while longer without hearing from guys who already stopped breathing!
Printing money to fund government spending is a choice. Inflation is the consequence of that choice.
When inflation erodes the value of your paycheck and savings, the government is taking purchasing power from you.
It's theft.