Sage wisdom from our favorite socialist....

submitted by howardlong75 from i.redd.it

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[–]Tom_Bombadil 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (14 children)

The current system is already socialist... For the wealthy..

Tax breaks, handouts, bailouts, giveaways, subsidies, etc... Risks for the wealthy are socialized. They get bailed out.

Everyone else lives in a rigged free-for-all jungle; where we are allowed to fight for the crumbs.

[–]LancerCaptain_Rooney 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (13 children)

Everyone got tax breaks- especially the poor. Also I’m pretty sure the ‘wealthy’ dont take welfare.

[–]Tom_Bombadil 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (12 children)

Everyone got tax breaks- especially the poor.

Tax brackets differ.

Earned income tax credits are low-income giveaways, however they also produce significant economic gains. They were scheduled to be phased out in the 90's, but the economic return exceeded the actual give away amount. The Republican party was on board and made them permanent.

The economy grows when the poor spend their money, and they have to spend all of theirs.

The wealthy rarely spend their money on actual goods, but instead save or invest in the Wall St finance vampire. This shrinks the economy; to the detriment of the taxpayers.

Also I’m pretty sure the ‘wealthy’ dont take welfare.

"Welfare", huh? Well you can have the word. Either way, the wealthy and the corporations are being given free taxpayer money that the rest of the public doesn't have access to.
The wealthy hoard their money, rather than spend it (which shrinks the economy).

Trump is trying to MAGA to the good old days; when people earned a living wage, and the rich paid their fair share of taxes.
There should be a flat tax, but the wealthy pay less taxes as it is, so it's not "politically feasible".

The economy hasn't shrunk since the 70's. The workers living wage is being hoarded by the wealthy.

[–]LancerCaptain_Rooney 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (11 children)

This is mumbo jumbo. Invested money serves as equity in companies and creates jobs. Nobody sits on cash because that doesn’t make a return. Calling wall street ‘vampires’ or whatever is a cop out and an excuse to ignore whats really happening. Capital is something I’d research if I was you. I agree with the flat tax (if any at all:) and subsidies are garbage. I think we agree on a lot- I just dont like generalizing the wealthy because a lot of entrepreneurs make their fortune fairly- not off politicking the laws into their favor

[–]Tom_Bombadil 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (9 children)

Invested money serves as equity in companies and creates jobs. Nobody sits on cash because that doesn’t make a return. Calling wall street ‘vampires’ or whatever is a cop out and an excuse to ignore whats really happening.

U.S. companies are rolling in cash, and they're growing increasingly fearful to spend it

Capital is something I’d research if I was you.

Ditto

[–]LancerCaptain_Rooney 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (8 children)

Do you even know what investing is? NOBODY sits on cash! You lose money to inflation by holding in cash and ‘rolling in it’. Money is invested so companies can grow and in turn pay more people!

[–]Tom_Bombadil 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (6 children)

Did you read the article?

The pool of 3,000 companies held about $2.7 trillion in cash as of their latest financial filings, off about $100 million from the year-earlier period. The analysis included publicly traded U.S. companies with a market capitalization of at least $100 million.

Corporations are hoarding cash. This is a fact.

What you think they should do is irrelevant.

Feel free to produce some evidence to prove me wrong.

Edit:.

Money is invested so companies can grow and in turn pay more people!

This is a myth. Money is invested to make more money. Not to help the working class public.

The accumulations and hoarding of money is the goal.

[–]LancerCaptain_Rooney 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (5 children)

Those are banks man. The GOVERNMENT requires banks to hold 10% capital at all times. Otherwise a run on banks would occur and the working peoples savings would be gone. Id love to debate thag with you if you want but the it comes down to the cash being working peoples money or equity required to be on the balance sheet.

Money is INVESTED in OTHER PEOPLE to make money! Not a myth at all!

[–]Tom_Bombadil 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

The pool of 3,000 companies held about $2.7 trillion in cash as of their latest financial filings, off about $100 million from the year-earlier period. The analysis included publicly traded U.S. companies with a market capitalization of at least $100 million. The Business Journals excluded the banking sector due to its unique cash-holding requirements.

[–]LancerCaptain_Rooney 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (3 children)

Fair is fair. Does it exclude the mezzanine financing sector or other companies that hold onto other peoples money? That doesn’t answer WHY a company would hold onto cash. What return does one make on cash?

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

So, they buy up assets and hoard property?

[–]Jesus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Not all invested money. Lots goes to offshore hedge funds.