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Billionaire Says Economy Must Be Fixed

ChrisKnight06

Todd's Tiki Bar
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Nov 30, 2005
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I think reasonable peoole agree the name of the game is groeinf the pie and making sure the opportunity is there for all.

So instead of making this a typical political argument about socialists and mesnie billionaires let's try a different approach.

I've often thought about the wealth question in terms of violence and wondered at what point in this country will there be unrest? Or will we never reach that point and you think it's fear mongering? Should the question simply be one of how to most likely avoid violence?

Thoughtful responses please!

https://www.cnbc.com/2019/07/29/bridgewaters-ray-dalio-us-economy-must-be-fixed.html
 
Mehhhhhhhhhhhhh

If we're talking about armed mobs of middle and low class people joining up to go hunt down and get rich people, like some scene from Gangs of NY, it ain't gonna happen. Pure fear mongering and nonsensical fantasy.

If he were talking more broadly about low income areas having a correlation towards community violence then sure, there's probably something there. But that's not what this guy is talking about.

I've heard him on CNBC a lot. He likes to talk about these big, big fantastical ideals about reforming the entire economy but never wants to go down the Bernie Bro road to apparently buffer himself from having to answer for being worth $17B.
 
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BTW, lost me at 'Bridgewater.' I've dealt with them. If I wasn't so straight-laced and conservative, combined with my mellow, accepting Libertarian attitude internally, I would have never survived.
 
If I wasn't so straight-laced and conservative, combined with my mellow, accepting Libertarian attitude internally, I would have never survived.

You're a real treat man, I love it! You might be the most self-aware man in any room you're present in.
 
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Some actual ideas would have been nice.

I aint no billionaire ... but if you were to pass a higher tax on billionaires somehow, is there any hope that money would go to something worthwhile?

San Francisco is full of billionaires (and liberal ones at that), and that city is a model for how bad the rich/poor problems are. They chuck millions at the problem every day and it gets worse and worse and worse.
 
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When capitalism is out of whack, you get socialism. A large number of people get pissed at the ruling class and start implementing policies so that things are "fair". Politicians understood this after WW2. People don't want to work hard and still struggle all their lives.
 
I need to look and see if I can see anything he's actually proposing. If peole have ideas it would be nice to freely be able to talk about them. I don't have any specific ideas but I don't like that feeling that you can't be critical of the current model without being labeled a socialist. I think it's lazy and unproductive. The discussion has always been about what the right mix should be and ridiculing people that have specific ideas that are on either specific side doesn't make someone absolutely one thing or another. It is reasonable to philosophically be a free market capitalist while also taking stock of wealth inequality and having real questions about what that means/could lead to.

I feel the exact same in my gut when it comes to the discussion of Trump and race nowadays. We can't even have specific discussions bc anything he or anyone on the right says that's critical is immediately shutdown with accusations of racism.

So here we are....a country split between racists and socialists when actually we're not.
 
I need to look and see if I can see anything he's actually proposing. If peole have ideas it would be nice to freely be able to talk about them. I don't have any specific ideas but I don't like that feeling that you can't be critical of the current model without being labeled a socialist. I think it's lazy and unproductive. The discussion has always been about what the right mix should be and ridiculing people that have specific ideas that are on either specific side doesn't make someone absolutely one thing or another. It is reasonable to philosophically be a free market capitalist while also taking stock of wealth inequality and having real questions about what that means/could lead to.

I feel the exact same in my gut when it comes to the discussion of Trump and race nowadays. We can't even have specific discussions bc anything he or anyone on the right says that's critical is immediately shutdown with accusations of racism.

So here we are....a country split between racists and socialists when actually we're not.
fascists and socialists.
 
shook chicken is just trolling. he knows that pretty much all of the first world countries built themselves mostly through capitalism. i dont take anything that clown says seriously.
 
I need to look and see if I can see anything he's actually proposing. If peole have ideas it would be nice to freely be able to talk about them. I don't have any specific ideas but I don't like that feeling that you can't be critical of the current model without being labeled a socialist. I think it's lazy and unproductive. The discussion has always been about what the right mix should be and ridiculing people that have specific ideas that are on either specific side doesn't make someone absolutely one thing or another. It is reasonable to philosophically be a free market capitalist while also taking stock of wealth inequality and having real questions about what that means/could lead to.

I feel the exact same in my gut when it comes to the discussion of Trump and race nowadays. We can't even have specific discussions bc anything he or anyone on the right says that's critical is immediately shutdown with accusations of racism.

So here we are....a country split between racists and socialists when actually we're not.

I'm a free market capitalist but am the first to say that we have a wealth disparity problem in this country that needs to be addressed. IMO, I think there needs to be a wealth tax of 1% on people with net worth of over a million dollars. I dont think that money should go to the government, I think it should go directly to families that live under the poverty line.

If you just take the richest 15 people in the country, a 1% wealth tax on them would be enough to give every person living under the poverty line about 500 bucks a year. That doesn't sound like a lot, but that's just coming from 15 out of 590 billionaires in the US and it's only taking 1% from them, and it isn't taking anything from their earnings, just from what they have built up previously. There are over 11 million millionaires in the country.

Again, I absolutely would not want this money going to the government, I would want to see it going directly to people.
 
I'm a free market capitalist but am the first to say that we have a wealth disparity problem in this country that needs to be addressed. IMO, I think there needs to be a wealth tax of 1% on people with net worth of over a million dollars. I dont think that money should go to the government, I think it should go directly to families that live under the poverty line.

If you just take the richest 15 people in the country, a 1% wealth tax on them would be enough to give every person living under the poverty line about 500 bucks a year. That doesn't sound like a lot, but that's just coming from 15 out of 590 billionaires in the US and it's only taking 1% from them, and it isn't taking anything from their earnings, just from what they have built up previously. There are over 11 million millionaires in the country.

Again, I absolutely would not want this money going to the government, I would want to see it going directly to people.
Why is the answer always taking from people who succeed and giving to people who don’t? The vast majority of the people who aren’t succeeding aren’t going to use that money to lay a foundation of success no matter how much they use it. It would be far better to get to the root of the problem and establish a cultural shift where people strive for success no matter where they came from.

Of course, this is hard when you have most of your political leaders out there saying the American dream is dead, vilifying successful people, etc.
 
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Yeah lets take money from those who made it, and will put it to use in the economy and give it to a bunch of druggies and drunks who will make the local pushers richer. Great idea. Other than those with real mental and Physical issues, most of those people are at the bottom for a reason of their own making.
 
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Yeah lets take money from those who made it, and will put it to use in the economy and give it to a bunch of druggies and drunks who will make the local pushers richer. Great idea. Other than those with real mental and Physical issues, most of those people are at the bottom for a reason of their own making.

Why do we immediately have to assume that successful people are not spending their money on drugs but people under the poverty line are?

I'm not and never will advocate for higher income taxes on anyone, but wealth consolidation is the one negative byproduct of capitalism and it will get addressed one way or another. Historically, it ends up with populist movements that brings about authoritarian socialism where wealth is consolidated even more and government grows out of control.
 
Get rid of welfare, food stamps, Medicaid, housing assistance, etc. Put those dollars directly in the hands of the people who receive those benefits and let them decide how to spend that money. If they waste it tough crap, but get rid of the nanny state and make people be responsible for themselves.
 
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Most of the wealth in Monaco comes from other places and just ends up there for tax reasons. It is also ripe with money laundering and things of that nature. I don't think you can use that as an example because their economy and wealth is essentially dependent on money that people make in other countries.
 
This whole discussion is hilarious knowing that the best example of socialism that we have is...…….Venezuela. Worked out great!
 
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This whole discussion is hilarious knowing that the best example of socialism that we have is...…….Venezuela. Worked out great!

But nobody is advocating we go to that system. Most economies in the world are some sort of mixture of capitalism and socialism, or at least well regulated capitalism, including ours. The debate is about how that mixture should be constructed.
 
But nobody is advocating we go to that system. Most economies in the world are some sort of mixture of capitalism and socialism, or at least well regulated capitalism, including ours. The debate is about how that mixture should be constructed.

We run the largest entitlement and welfare system in the history of mankind. I'd say we've tilted the scales far enough to one side. The D's running like Warren and Sanders simply want to complete the job and remove a lot of our market based economy.
 
We run the largest entitlement and welfare system in the history of mankind. I'd say we've tilted the scales far enough to one side. The D's running like Warren and Sanders simply want to complete the job and remove a lot of our market based economy.

There are also more people on the planet now than there were in past centuries, so saying it is the biggest in the history of the world is a bit dramatic. And even today, we might be #1 due to our population, but we are not the largest entitlement and welfare system per capita or per % of GDP. IN fact, we aren't even top 10.
https://finance.yahoo.com/news/countries-most-generous-welfare-programs-110004319.html
 
Why do we immediately have to assume that successful people are not spending their money on drugs but people under the poverty line are?

I'm not and never will advocate for higher income taxes on anyone, but wealth consolidation is the one negative byproduct of capitalism and it will get addressed one way or another. Historically, it ends up with populist movements that brings about authoritarian socialism where wealth is consolidated even more and government grows out of control.
poor people tend to make poor decisions. i know there are some that are poor that dont partake in those things, but they are few and far between. the vast majority are poor for a reason, and that reason is poor life choices.
Get rid of welfare, food stamps, Medicaid, housing assistance, etc. Put those dollars directly in the hands of the people who receive those benefits and let them decide how to spend that money. If they waste it tough crap, but get rid of the nanny state and make people be responsible for themselves.
im all for this
 
So there are no good capitalist countries in the world other than us? Because fox news has already told me that a country is socialist if it provides universal healthcare.

I guess my challenge of name literally any one single additional country that pure capitalism works for in the entire world was too tough.

Maybe capitalism doesn't work or maybe providing healthcare isn't socialism.
 
So there are no good capitalist countries in the world other than us? Because fox news has already told me that a country is socialist if it provides universal healthcare.

I guess my challenge of name literally any one single additional country that pure capitalism works for in the entire world was too tough.

Maybe capitalism doesn't work or maybe providing healthcare isn't socialism.

No one really gives a shit what title you want to put on it, all we care about is that MFA is totally unfeasible, it would represent nationalizing 1/5 of our economy, and normal, sane people aren't going to elect anyone promising to do this.

And we do "provide health care" in this country. Your hilarious little narrative that no one here has any coverage is valiant but dumb and won't work.
 
So there are no good capitalist countries in the world other than us? Because fox news has already told me that a country is socialist if it provides universal healthcare.

I guess my challenge of name literally any one single additional country that pure capitalism works for in the entire world was too tough.

Maybe capitalism doesn't work or maybe providing healthcare isn't socialism.
the us was a pure capitalist country in the late 1800s and even early parts of the 1900s. that helped build this country into what it is today. but you keep on trollin
 
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the us was a pure capitalist country in the late 1800s and even early parts of the 1900s. that helped build this country into what it is today. but you keep on trollin
Late 1800's you mean back when kids got black lung in coal mines and couldn't go to school because they needed to work the factories so they could buy bread?[roll] yeah, the good old days.
 
@UCFWayne literally quoted the time period directly before the fair labor standards act (1938) as the pinnacle of capitalism. A time when no worker was protected from injury on the job and unsafe working conditions, when kids could be worked 60 hours per week and it was OK to discriminate based on any factor.

Yeah those pesky regulations ruined the glory of unchecked capitalism. [roll][roll][roll]
 
but wealth consolidation is the one negative byproduct of capitalism and it will get addressed one way or another. Historically, it ends up with populist movements that brings about authoritarian socialism where wealth is consolidated even more and government grows out of control.

This follows my line of thinking. Right or wrong it stands to reason that eventually enough people will think they're being screwed beyond repair. I think it's helpful to think of this from the mindset of someone who thinks capitalism isn't working from them. I can't help but think at some point it's no longer about which is the correct and more free system.
 
@UCFWayne literally quoted the time period directly before the fair labor standards act (1938) as the pinnacle of capitalism. A time when no worker was protected from injury on the job and unsafe working conditions, when kids could be worked 60 hours per week and it was OK to discriminate based on any factor.

Yeah those pesky regulations ruined the glory of unchecked capitalism. [roll][roll][roll]
i never said it was good or bad, but that period of time did build this country into what it is today. but keep on trollin. i know your lookign for a win. trumps been winning so much lately, ill let you have this one time. think of it as winning redistribution. ;-)
 
i never said it was good or bad, but that period of time did build this country into what it is today. but keep on trollin. i know your lookign for a win. trumps been winning so much lately, ill let you have this one time. think of it as winning redistribution. ;-)

We became an economic superpower after WW2 and the Depression, when the new deal was in place and unions were at their strongest. So I would say the period right after what you are talking about, had a bigger role in US becoming a world power and being what we are today.
 
We became an economic superpower after WW2 and the Depression, when the new deal was in place and unions were at their strongest. So I would say the period right after what you are talking about, had a bigger role in US becoming a world power and being what we are today.
He's incredibly uninformed about basically all of American history if he thinks 19th century America is the golden age of the US.

All I want to see is one mouth breather on this website name another "capitalist" country they would even consider living in.

If the economic system of unregulated capitalism is so appealing why can no one name a single other place on the face of the earth using it that is worth living in.
 
This follows my line of thinking. Right or wrong it stands to reason that eventually enough people will think they're being screwed beyond repair. I think it's helpful to think of this from the mindset of someone who thinks capitalism isn't working from them. I can't help but think at some point it's no longer about which is the correct and more free system.
Every economic system resets at some point because of wealth consolidation. The only question is how violent that reset is.
 
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