The Tax Reform Act of 1986 was the top domestic priority of President Reagan’s second term. The act lowered federal income tax rates, decreasing the number of tax brackets and reducing the top tax rate from 50 percent to 28 percent.
Name and shame: Ronald Reagan
But a B-List actor told me it would trickle down half a century ago, so let’s give them the benefit of the doubt and maybe we’ll catch a dribble
And he was right. You get a trickle down. He didn’t mention the industrial strength wealth pump going up with the business end stuck in your wallet.
The reason billionaires exist is because people like you and me are overcharged for everything we purchase so they can accumulate the surplus.
The reason why we don’t do anything about it is because we evaluate that we get good value for our money in most situations.
What is that evaluation based on? Our past experiences…
But the only experiences we have to evaluate what our money is worth is us being charged enough that the rich people at the top accumulate an unreasonable amount of wealth.
We never have an experience where those leeches at the top aren’t present to artificially inflate the price of things so we can actually realize how much we’re supposed to be able to get for our money!
I think the idea of cryptocurrency is funny, since it’s just “I’m not playing your make believe money anymore, so we’ll pay our own make believe money since you are obviously rigging the system”. Kinda makes sense if adoption keeps up and the planet isn’t on fire
Thing is, the poor aren’t running bitcoin miner farms. Crypto doesn’t change anything but traceability of the funds, letting the rich get even richer.
That’s a common misconception. Most cryptocurrencies (except XMR) actually increase the traceability of funds compared to traditional payments. Bitcoin really isn’t that great for privacy as some crypto enthousiasts say. It’s one of those ridicolous “advantages” that prove that most are just hypemen with no idea about how it actually works.
Traceability might be nice since the black market is estimated around 20T USD. Cuts out bad actors which means no fraud, and no hidden inflation since we can see the quantity compared to USD which the Federal Reserve doesn’t even know
Have you heard of our Lord and Savior, Monero?
what are they going to do with all that money?
hint:
buy more private jets?
Slavery & Slaughter
This is a completely meaningless figure…
I really hate when articles come out with this kind of data. Huge numbers like this without any context just mean nothing. Ok, 42 trillion$, how much money did they already have? How much percent did their fortunes increase? Is that more or less than inflation?
It’s just a meaningless huge number that has no intention other than to shock, certainly not to inform or they would have given actually useful numbers that would actually let you have an idea whether it’s that bad or not…
I hate that people keep falling for nonsens like this… Just post a huge number without any context or any other numbers needed to be able to make sense of it, and everyone is like “omfgwtfbbq, this is SOOOO bad”! Is it? It’s perfectly possible that this isn’t even enough to keep up with inflation, and they’re technically poorer, probably not, but we’ll never know from this useless article…
Ladies and gentlemen, gather 'round and see the spectacular boot-swallowing man!
Ah yes, i can’t critisize such stupid articles without opposing their message… I’d love more equality, and agree that something should be done about it.
I just would love to see actually useful numbers that mean something when we make a fuss about it rather than useless info like this that is meaningless.
How you interpreted my message as bootlicking is beyond me, but i guess you’re a youngling that interprets any critique as an attack?
Your right. We need names & addresses.
Taxes won’t fixe this, but an 18th century invention might.
As long as the rich have the means of wealth generation they will always come ahead no matter how much you tax them. They will always buy back the system. Now if those means were somehow communalized then things could change once and for all.
