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

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

PostBy: Davian On: Tue Sep 24, 2013 9:22 am

lsayre wrote:We have a Federal deficit because the Federal Government annually takes in ~$2.4 trillion in taxes (corporate and income) and all other forms of revenue and it annually spends ~$3.5 trillion.

With $3.5 trillion being 23% of the nations GDP, are we getting the proper bang for the buck? Or could the private sector (including you and I) spend that 23% far more wisely?


Consider medicare as an example...their overhead is far, far lower than any private medical insurer. So yes, in some cases, the gov't can do it better...if for no other reason than they don't need to turn a profit and pay for those super fun executive salaries.
Davian
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Tue Sep 24, 2013 6:01 pm

Medicare is declining. Obamacare is an attempt to bail it out.

These people LIKE Medicare and even they have to admit things are going downhill.

http://www.cbpp.org/cms/?fa=view&id=3532

The 2013 report of Medicare’s trustees finds that Medicare’s Hospital Insurance (HI) trust fund will remain solvent — that is, able to pay 100 percent of the costs of the hospital insurance coverage that Medicare provides — through 2026; at that point, the payroll taxes and other revenue deposited in the trust fund will still be sufficient to pay 87 percent of Medicare hospital insurance costs.[1] (The Medicare hospital insurance program is considered insolvent when revenues and trust fund balances will not cover 100 percent of projected costs.) The share of costs covered by dedicated revenues will decline gradually to 71 percent in 2047 and then rise to 73 percent by 2087. This shortfall will need to be closed through the provision of additional revenues, program changes that slow the growth in costs, or most likely both. But the Medicare hospital insurance will not run out of all financial resources and cease to operate after 2026, as the “bankruptcy” term may suggest.
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: Davian On: Tue Sep 24, 2013 7:16 pm

JPete, that has nothing to do with the overhead costs or efficiency of the gov't administration of the program though. That has to do with cost of medical care in general...something 100% driven by the private sector.

If we were in a single payer system, that type of criticism would be accurate but it isn't in this case.
Davian
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: jpete On: Tue Sep 24, 2013 8:37 pm

Davian wrote:JPete, that has nothing to do with the overhead costs or efficiency of the gov't administration of the program though. That has to do with cost of medical care in general...something 100% driven by the private sector.

If we were in a single payer system, that type of criticism would be accurate but it isn't in this case.


It's got very little to do with the "private sector" when government's paws are in every aspect.

And the recent explosion of rates has everything to do with government intervention in the market, mandating all the things that MUST be covered.

It was government intervention in the form of the 1973 HMO Act which got us to this point.

Now that the bubble is about to pop, they need to switch everyone over to a new scam.

The bottom line is as it was in the 70's. You can't have both guns and butter.

We need to chose to either expand the empire or take care of the home front. The former Soviet Union and the ancient Roman Empire, as well as every empire in between show what happens when you try to do both.
jpete
 
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Re: Poll: At what level should the 1%'s net wealth be capped?

PostBy: KLook On: Tue Sep 24, 2013 10:23 pm

Come on Jpete, if we just start confiscating wealth that the greedy middle class has saved to retire we will be good for 20 or 30 more years.....maybe. Then we can just take over all industry and all the wealth that hasn't been buried and become the socialist state they have been working towards. Funny how the private sector is to blame when the "overhead" of gov. wages and retirement and training seminars to exotic places, is far and away more egregious them the private sector.

Kevin
KLook
 
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