No End To Greed

Then the trick is to leave enough profit for the investor to keep investing, BUT to tax them at a higher rate than currently.

 

No, I am not a proponent of pure socialism. Nor am I a supporter of pure capitalism.
If left up to me, I'd leave the means of production in the hands of those who have the skills to invest and manage their businesses. In any event, I don't believe that any gov't can run a company as well as the private citizen. I'd hate to imagine what a car would look like if the gov't ran the business. Maybe like the Yugo ?

 

Yes, I don't think people should get a tax break on their income if it comes from doing nothing but investing money. If a single person's total income is over $492,300, income from capital gains will only be taxed at 20 percent in 2023.

 

Another thing i'm a supporter of is that the workers of a company get a share of the profits. This gives the individual a powerful motive to become involved. One never knows what one individual can come up with to increase production.

 

I honestly believe that if that tax rate increased to maybe 30% , the individual would still wish to keep investing.

 

If you owned that company would you feel the same way? What makes you think people are entitled to wealth that others have earned? Good grief.

 

Yes, I'd feel the same way. Remember, it's the workers who make a company profitable by the sweat of his brow.

Who are the "others" you speak of ? The investor ?

 

It used to be that way also. People took pride in the jobs they had with companies that offered good benefits and pensions and didn't want to lose them.

If the working people can't afford to buy products that are made here, either because the company won't pay them enough, or because they have to save everything they earn to pay for benefits that are cut, then the company moves to China.

It's a win-win situation. The company makes more profit per product, and the workers can afford to buy the wonderful products China produces. And they can buy them many more times, because they last so long. (not) "No end to greed"

 

Yes, true indeed. Entirely too many American companies have moved to other countries where the wages are quite low. I'm not sure how I'd handle such a major problem. Perhaps tax the returning goods to remove the profit from moving overseas ?

 

The whole thing is a monumental problem. What we need are more honest politicians who are working for us.
It's always a problem when politicians own stock in companies and then those politicians turn around and make deals with those companies that work against us. In the mean time those politicians keep getting richer and richer.

 

I'm much too busy to be concerned with other people's wealth, greed & spending.
I have 3 cars to wash & a house to clean:

 

I just don't consider it "greed," when someone works hard and is successful. I do consider it WRONG to take from successful people and hand it to someone who thinks they are somehow entitled to it, and did nothing to earn it.

I do believe that the tax laws need to be changed, but people should not be penalized for their success. Removing incentives for working hard is a terrible idea; soon no one will want to work.

 

There are people who make millions of dollars/year. I doubt they would miss a single meal if their taxes were raised a bit. Nor do I think that increased taxes are removing incentives to work. Think about it. Would you stop working any harder if you made millions of dollars/yr ? After all is said and done, the more money you make , the more you get to take home to invest in ever more business. Thu making still more money.

As I said before, ultra wealthy should pay higher a percentage of taxes than the people who are at the financial bottom.

 

In the arena of taxation, I am all for a flat tax or fair tax. No one pays a higher percentage than another no matter what monetary bracket they fit into.

That said, when does an employee invest as much money to be successful as the employer?
An employee doesn’t have any money invested in the property, building, utilities, insurance, equipment, advertising, or in the base materials it takes to produce whatever product is produced.
For the employer, opening a business is a crap shoot and there’s no study that can be made that will insure with 100% certainty that the business will succeed.

Personally, I have always wanted any employer I have had to get filthy rich. I mean, so rich and successful that they get listed in Who’s Who and has tea with Forbes. I have never envied nor cared how much money someone makes or has.
I worked for a couple of people who operated on a shoe string and once, I went to work and the doors were shut tight and everyone had to wait for their paychecks.

Now, if a business goes public, then an employee can buy shares and as a matter of fact, I know of a few businesses that give their employees bonuses in the form of shares.
Other companies like Gold Star, offer permanent employees tuition for college or like Westin Hotels, offers cooks a chance to go to culinary school provided they work for Westin for 2 years after graduation.
In short, there are a lot of very rich companies that offer a few perks but that’s because those companies want to make more money by increasing the efficiency of their employees.

Do note that I’ve never refused a bonus or a promotion in position and salary but that said, I have never demanded anything more than what I contract for; I do x amount of work for x amount of money.
As long as the employer’s greed doesn’t get in the way of fulfilling what we have mutually agreed upon, I’m good to go.