Poll: At what level should the 1%'s net wealth be capped?

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How much money should the wealthiest 1% be allowed to keep?

$50,000
4
13%
$100,000
0
No votes
$250,000
0
No votes
$500,000
0
No votes
$1,000,000
0
No votes
$10,000,000
0
No votes
$100,000,000
1
3%
$500,000,000
0
No votes
$1,000,000,000
0
No votes
$10,000,000,000
0
No votes
No limit, let them keep whatever they have
26
84%
 
Total votes : 31

Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Tue Aug 20, 2013 7:53 pm

Tell it like you see it via your vote. Then tell us why if you dare!
lsayre
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: franco b On: Tue Aug 20, 2013 8:21 pm

lsayre wrote:Tell it like you see it via your vote. Then tell us why if you dare!

I voted 50,000 cause I don't want to get Sam mad. If you work for government it should be unlimited because there is plenty more where that came from and if you are in private industry and if you make too much the government will not have enough. Pretty simple.
franco b
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Tue Aug 20, 2013 8:55 pm

I voted to let them keep whatever they have. Many people think that the wealth of the 1% is obscene, but they are the motor that drives the economy of the world. An economy without an engine isn't going anywhere fast.
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Anthracite Pea
Other Heating: Resistance Boiler (if I ever get it fixed)


Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: anthony7812 On: Tue Aug 20, 2013 9:07 pm

Kinda crazy for anyone to tell anyone they have too much money. If thats what they desire in life then let 'em be. Anyway doesnt the declaration of independence declare us the right to the pursuit of happiness. If your pissed off about someone making too much money why not look into how they attained such wealth. :idea:
anthony7812
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Tue Aug 20, 2013 9:18 pm

Kind of strange question, what do you mean by capped or as some suggested keep? I voted for them to be unlimited just as everyone else, just pay like everyone else, eliminate all loopholes & just have very limited deductions. As far as the statement of driving the economy that is correct except they drive it down not up. Spending drives the economy not savings, the more spent then the more demand created,the more demand then the more product needed & the more employment required, even a 1%ter can only spend a very small % of that money where the lower middle class spends 100% in most cases with very little opportunity to save or invest if raising a family. We buy a house we can hopefully some day own by paying off the mortgage even if we are paying more than the original cost in interest. A 1% normally owns more than one home & even being a McMansion buys it for a % of their yearly income rather than having to borrow. Everything becomes relevant, money spent drives the economy.
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: lsayre On: Tue Aug 20, 2013 9:25 pm

Only a Keynesian would agree that spending drives the economy. I disagree. Investment drives the economy. Let a think tank explain this:

http://www.fee.org/the_freeman/detail/c ... z2cYvihqNu
lsayre
 
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Anthracite Pea
Other Heating: Resistance Boiler (if I ever get it fixed)

Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Tue Aug 20, 2013 9:39 pm

Let a non-highly educated pion think about this for a second & ask what good investment, more production, great products, well advertised or any thing else do if you have no one that can afford to buy the product made? You soon have to stop production, lose investment & you end up where we are. There is a fine line & I don't even need some think tank to figure that one out, a warehouse full of unsaleable widgets just equals time & investment lost.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Tue Aug 20, 2013 9:44 pm

samhill wrote: Spending drives the economy not savings,.


Wow. You really tell it like it isn't.

Capitalism requires CAPITAL.

And capital doesn't come out of Helicopter Ben's Magical Mystery Press.
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: samhill On: Tue Aug 20, 2013 9:52 pm

OK, just where does it come from Jpete, just where & why was money ever invented? Just exactly what is CAPITAL?
samhill
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: KLook On: Tue Aug 20, 2013 10:01 pm

I voted unlimited for obvious reasons.
KLook
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Tue Aug 20, 2013 10:06 pm

samhill wrote:OK, just where does it come from Jpete, just where & why was money ever invented? Just exactly what is CAPITAL?



Investopedia explains 'Capital'
Capital is an extremely vague term and its specific definition depends on the context in which it is used. In general, it refers to financial resources available for use.


http://www.investopedia.com/terms/c/capital.asp

How can money be "available for use" is no one is saving?

If everyone does what you want, and spends instead of saves, the velocity of money goes up. And that is usually a bad thing.


Investopedia explains 'Velocity Of Money'
Velocity is important for measuring the rate at which money in circulation is used for purchasing goods and services. This helps investors gauge how robust the economy is, and is a key input in the determination of an economy's inflation calculation. Economies that exhibit a higher velocity of money relative to others tend to be further along in the business cycle and should have a higher rate of inflation, all things held constant.


http://www.investopedia.com/terms/v/velocity.asp

Money is whatever people agree that it is. Could be paper, gold, tobacco leaves, or sea shells. Some money has more "value" than others but they are all just place holders in a barter system.
Last edited by jpete on Tue Aug 20, 2013 10:09 pm, edited 1 time in total.
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: Freddy On: Tue Aug 20, 2013 10:08 pm

If it isn't unlimited the drive to work hard is nil.
Freddy
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: KLook On: Tue Aug 20, 2013 10:09 pm

Step away from the keyboard Jpete, it is hopeless.

Kevin
KLook
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Tue Aug 20, 2013 10:09 pm

LOL. :lol:
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: RAYJAY On: Tue Aug 20, 2013 11:06 pm

samhill wrote:Kind of strange question, what do you mean by capped or as some suggested keep? I voted for them to be unlimited just as everyone else, just pay like everyone else, eliminate all loopholes & just have very limited deductions. As far as the statement of driving the economy that is correct except they drive it down not up. Spending drives the economy not savings, the more spent then the more demand created,the more demand then the more product needed & the more employment required, even a 1%ter can only spend a very small % of that money where the lower middle class spends 100% in most cases with very little opportunity to save or invest if raising a family. We buy a house we can hopefully some day own by paying off the mortgage even if we are paying more than the original cost in interest. A 1% normally owns more than one home & even being a McMansion buys it for a % of their yearly income rather than having to borrow. Everything becomes relevant, money spent drives the economy.



unlimited ....as long as they pay there fair share of taxes and invest there money here in the states and not hide it over seas to avoid being taxed
RAYJAY
 
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