Wealth disparities

Discussion in 'Wall St. News' started by TraDaToR, May 23, 2019.

  1. comagnum

    comagnum

    The only other country with such a large wealth inequality is Russia. We are at levels not seen since 1929, & we all know how that turned out

    Many billionaires, the Fed, economists, and those with common sense are concerned about this - after all, third world countries tend to have the ultra rich & ultra poor, with not much in between. The U.S. is clearly heading in this direction at an alarming rate.

    The U.S. has upside down socialism, corporate well-fare at extremes while anything that benefits the people or the environment is gutted to feed corporate profits.
     
    Last edited: May 23, 2019
    #11     May 23, 2019
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  2. srinir

    srinir

    There is something perversely wrong when CEO makes more than 400 times the average employee.
    https://www.payscale.com/data-packages/ceo-pay/full-list
    https://www.payscale.com/data-packages/ceo-pay
     
    #12     May 23, 2019
  3. TraDaToR

    TraDaToR

    I agree for the most part as long as your total income tax is "bearable". For me, the limit is around 45-50% ALL IN( corporate tax + tax on dividends + social security or income tax + social security ). And I am consistent in my trading, meaning I have max 1 losing month per year. Anybody willing to trade with over 50% of your trading profits gone at the end of the year simply don't understand probabilities( First year , you make 200 K Euros, second year 200 K, third year you lose 200 K euros = 0 income in 3 years at a 50% tax rate... ). In this case, the solution is relocation, not tax evasion.

    But yes, if you have a decent tax rate in a western country( 25 to 35% ), creating offshore accounts to " hide" is sheer stupidity. You'd better work a little more as proposed.
     
    #13     May 23, 2019
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  4. Mr Sharpshooter does not quite get it. Distribution here refers to the statistical distribution. So "wealth gap" exactly can be defined as an unequal distribution of wealth.

    Also why don't we start with you first: let markets be completely unregulated, the strongest wins, regardless of insider trading, large fake orders that disappear in milliseconds but sucked you in, all sorts of schemes that only large players can play. Oh wait, I forgot, you actually don't trade. Then how about we let Amazon go without regulations, let them kill every other last competitor with "special sales" (which is nothing else than price dumping) and when they are the only player in town we let them raise prices 1000%. Same with the prescription meds for your sick wife and daughter. All in the name of pure capitalism. You sir, are completely blind to history and someone who is so brainwashed that he cant see the forest because of all the trees.

     
    Last edited: May 24, 2019
    #14     May 24, 2019
    srinir likes this.
  5. No, people with a brain want to create a fair meritocratic level playing field where everyone has the same opportunities. If only the wealthiest can enjoy sufficient health care and the rest get shit treatment after hours of waiting and when those beyond a certain wealth level can buy get out of jail free cards while the average Joe gets behind bars for every minor transgression then something is not right. The root problem arises not because of different wealth levels but because the laws that apply to the average crowd don't seem to equally apply to the wealthy. That is what smart brains target to eliminate.



     
    #15     May 24, 2019
  6. How could it otherwise be when a majority was raised with so much pride in believing that one cannot possibly learn from Japan, Germany, Holland, Switzerland,....America Über Alles. That's when you lose sight of other approaches that have proven to work better than one's own way of life.

     
    #16     May 24, 2019
  7. You quoted the worst case scenario. First of all your example falls off a cliff when you lost 200k the first year and make 200k the second and third year. Second, even keeping your order unchanged, one does not stop trading after your third year, after which you can carry the loss forward. And 50% tax sounds about fair for someone who makes a million or more per year not 200k.

     
    #17     May 24, 2019
  8. luisHK

    luisHK

    Lmao, hell of a conservative you are !
     
    #18     May 24, 2019
  9. Ditto, love identity politics? By your assessment Buffet and all other billionaires who agree that the wealthy should pay more taxes are not conservative?

    I am not conservative regarding all issues, on some I am as liberal or left as it gets. So what. Let's debate issues not silos.

     
    #19     May 24, 2019
    ironchef likes this.