AOC wants 70% tax on wealthy

[Mr. Deez]

Good stuff. I’ve brought up similar thoughts on this board in the past, but it seems that law schools, regardless of empirical evidence to the contrary, have textbooks stating that monopolies exist without the help of government. Therefore, let the ignorance continue under guise of “antitrust law”.

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.

 

[Mr. Deez]

Bad news for banks and the rest of us. Banks regulations favor much of the bad behavior that hurts the public. They socialize losses while concentrating gains. What we need is more market consequences for banks not less.

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.

 

[ShAArk92]

And with Pelosi at the helm, stupidity will become the feature of the day. We can only hope that the electorate will realize their error of the 2018 mid-terms and correct that error in 2020.

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.

 

[ShAArk92]

its integrity depends on fair appraisals.

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.

 

[ShAArk92]

I totally agree with you nearly everyone should pay something for all the reasons you listed

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??")

 

[Phil Elliott]

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

Rep. Alexandria Ocasio-Cortez (D-NY) used a vulgar sexual term in an interview with the Washington Post published Wednesday, threatening conservatives that Democrats would “run train on the progressive agenda.”

The term “run train” refers to a gang rape. According to UrbanDictionary.com, the “top definition” for the term “run train” is “to ‘gangbang’ a girl with several friends.”

 

[Clean]

We need to get rid of the bailout mechanisms, including the FDIC and comparable programs.

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.

 

[ProdigalHorn]

Rep. Alexandria Ocasio-Cortez (D-NY) used a vulgar sexual term in an interview with the Washington Post published Wednesday, threatening conservatives that Democrats would “run train on the progressive agenda.”

The term “run train” refers to a gang rape. According to UrbanDictionary.com, the “top definition” for the term “run train” is “to ‘gangbang’ a girl with several friends.”

#MeToo

 

[ShAArk92]

Why on earth would we want to do away with it?

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.

 

[Horn6721]

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.

 

[Phil Elliott]

Waiting for the feminists to march and protest against her.

You're gonna be waiting a while - bring a chair.

 

[bystander]

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.

 

[nashhorn]

Collectively, we are losing our ability to reason and we're losing what's left of any commitment to continue the Great Experiment.

Agree, agree,,,,,,and agree. Or I'd say we have lost all reasonability.

 

[bystander]

Agree, agree,,,,,,and agree. Or I'd say we have lost all reasonability.

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.

 

[HornHuskerDad]

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

 

[Monahorns]

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.

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.

 

[Mr. Deez]

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?

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.

 

[Joe Fan]

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

 

[Clean]

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

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.

 

[Phil Elliott]

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.

 

[Seattle Husker]

AOC is the Dem version of Trump. Both live on Twitter and revel in trolling. Neither are fit for politics, IMHO.

 

[Horn6721]

SH
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



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

 

[horninchicago]

SH
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

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.

 

[Horn6721]

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

 

[Seattle Husker]

SH
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



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

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.

 

[Monahorns]

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.

 

[Horn6721]

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?

 

[Horn6721]

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."

 

[BevoJoe]

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.

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.

 

[BevoJoe]

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.

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.