Maggie's Farm

We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.

Our Recent Essays Behind the Front Page

Much Sorry with Delays
Birth, Death and All That Stuff in Between
How to Honor Labor Day, Every Day
My Yom Kippur Miracle (Repost from 2010)
Good intro to fly casting
Peach update, with pie
NYC update
Easy for you to say: To the elites on mass immigration
For NYC on 9/11, Sailors' Snug Harbor
Pickled Peaches
Water Shoes
Labor Costs in U.S.
Your "identity"
Good news about The Great Courses
Uses of Hot Pepper Jelly/Sauce, Chutneys, and Jams
A Saturday Drive to Litchfield County, CT
How to Pick a Kayak
Civilized: Fruit forks and knives
Loads of kayaking on Cape Cod
Psychology Experiments' Questionable Results

Categories


All categories

Quicksearch

Links

Blog Administration

Open login screen

RSS Readers

Add to Google

Subscribe with Bloglines

Thursday, March 19. 2015

Eat the rich

I recently read that there are only 1 million Americans with net worth of $5-25 million, and only 142,000 Americans with over $25 million in net worth. There are so many millionaires in NYC, you would think it's normal and end up with a distorted view of life.


All inequality statistics could be solved by confiscating all of these wealthy assets. However, it would not even put a dent in American's debt to China. Another problem is that those people would go out and do it again, so best just to take their money and houses and stuff and then kill them, and kill their kids too just to be on the safe side. Kill the kulaks.


Maybe better just to confiscate the wealth of old people who lack the energy to make money again. Hey - there's a policy to campaign on.

Posted by The News Junkie in Hot News & Misc. Short Subjects, Our Essays at 13:06 | Comments (10) | Trackbacks (0)

Trackbacks
Trackback specific URI for this entry

No Trackbacks

Comments
Display comments as (Linear | Threaded)

How about we have a flat tax instead and make more rich people? You know how much I could be saving and spending if I didn't have to pay the whopping amount of taxes I have every year? I wish....
#1 MissT on 2015-03-19 13:21 (Reply)
I prefer a sales tax (not a VAT) to a flat tax but I'd take either one over what we have now. But as much as I hate the current tax system, I would even keep it if we ended all (even most) transfer payments - taking money from one to give to another.
#1.1 mudbug on 2015-03-19 16:29 (Reply)
Whether it's one dollar or ten million, it's still theft.
#2 locomotivebreath1901 on 2015-03-19 13:21 (Reply)
You know, if we just wait until people die, and then take a third of their first million and two fifths of anything above that...

Oh, wait, we already do that...
#3 Douglas2 on 2015-03-19 16:58 (Reply)
The News Junkie: I recently read that there are only 1 million Americans with net worth of $5-25 million

1 million * $5 million = $5 trillion

The News Junkie: it would not even put a dent in American's debt to China.

America's debt to China = $1.2 trillion

http://www.wsj.com/articles/china-gobbles-up-longer-term-u-s-debt-in-2014-helping-keep-yields-down-1424381644
#4 Zachriel on 2015-03-19 17:40 (Reply)
Hey, great!

That's five trillion knocked off!

Say, what was your national debt again?

Oh yeah - 18 trillion.

So - only 13 trillion more to find...
#4.1 JJM on 2015-03-19 19:02 (Reply)
The link below is to a Bill Whittle from 2011 where he shows the fallacy of eating the rich. Well worth your time.

https://www.youtube.com/watch?v=661pi6K-8WQ
#5 Dave on 2015-03-19 23:22 (Reply)
The poor in this country live a lot like the middle class in Europe. The poor in this country are the envy of close to 6 billion people in the world. Our standard of living, even for our poor, is great, it's awesome, it's singularly incredible in human history. Why is that? It's a number of things: our democracy, our freedom, our constitution, our resources, our education, capitalism and more. If the government and the citizens were stupid enough to choose to end all that and reduce us to a banana republic, how would you go about doing that? Taxes, more and higher taxes especially on the rich. More regulation and out of control government agencies like the EPA, HUD, HHS, Dept of Ed, Dept of Labor, and for the last 6 years the DOJ. More legal and illegal immigrants to overwhelm the system. If it were actually our intent to kill the golden goose and destroy our country what would we be doing differently?
The millionaires, the rich, are like the spotted owl or the pup fish in that they are being threatened with extinction by the far left and the very same things that will harm them will harm us all. The pollution of excessive government regulation and taxes will destroy the rich, the middle class and the poor. I can't help but believe it is all intentional.
#6 GoneWithTheWind on 2015-03-19 23:47 (Reply)
It may be $18 trillion right now (actually $24T with Fannie and Freddie included), but future obligations puts the number in the $100-200 trillion range. Let's see if we can survive the next ten years with a slow economy and most of the boomers collecting social security/medicare.
#7 Otto Maddox on 2015-03-20 11:57 (Reply)
Otto Maddox: It may be $18 trillion right now (actually $24T with Fannie and Freddie included), but future obligations puts the number in the $100-200 trillion range.

Unfunded federal liabilities over 75 years are about $87 trillion. However, over that 75 years, assuming no economic growth, the U.S. will produce $1260 trillion. Assuming modest 2% growth, the U.S. will produce $2869 trillion.

The U.S. has a short-term cash crunch due to the retirement of the baby-boomers, but it's not a permanent problem.
#7.1 Zachriel on 2015-03-20 16:44 (Reply)

Add Comment
(Your e-mail will not show in your comment)

By commenting on this site you agree to the site rules listed here. Email
addresses will not be displayed and will only be used for email notifications.

Quick reference guide: [i] italics [/i], [b] bold [/b], [u] underline [/u],
[url] (web address) [/url]. More tips here.

Enclosing asterisks marks text as bold (*word*), underscore are made via _word_.
E-Mail addresses will not be displayed and will only be used for E-Mail notifications.

To prevent automated Bots from commentspamming, please enter the string you see in the image below in the appropriate input box. Your comment will only be submitted if the strings match. Please ensure that your browser supports and accepts cookies, or your comment cannot be verified correctly.
CAPTCHA

BBCode format allowed
 
 
A Chris Southern Consulting website.