They pay the most in taxes, but they still have the most rich people, so clearly they're not taxing progressively enough. There are taxes, and then there are targeted taxes. The progressive states are letting individuals and families collect *insane* levels of net worth and not touching them. And then they wonder why prices aren't coming…
They pay the most in taxes, but they still have the most rich people, so clearly they're not taxing progressively enough. There are taxes, and then there are targeted taxes. The progressive states are letting individuals and families collect *insane* levels of net worth and not touching them. And then they wonder why prices aren't coming down. Duh dummies, you let these people get insanely rich and then broadened the tax base out too wide instead of targeting your top earners. You punished the consumer class to keep taxes lower on the decadence class via taxing models that were wayyyyy too regressive.
I'm literally lost for words when you have dozens of billionaires living in your state and you think tax rates are too high. California and New York aren't living up to shit beyond preserving wealth inequality within their own political boundaries while alternatively crying crocodile tears about how bad it is. California is a great example of liberal hypocrisy and decadence, and you can tell by looking at how many multi-millionaires and billionaires they have. Between Hollywood and Silicon Valley alone y'all let the rich get away with economic murder.
Having the most rich people while also having the most progressive tax codes doesn't mean they aren't taxing enough. It means there is value coming from those taxes that allows rich people to still thrive in those locations. If the goal was to eliminate rich people, go to a communist country.
I don't want to eliminate rich people. I want them to be taxed down to much smaller economic sizes of themselves. *Nobody* needs a net worth over $3.5M as a family. Fucking NOBODY. Anyone with a family net worth over $3.5M is living in excess at the expense of raising the cost of living on everyone else and I'm tired of progressives ignoring that issue while claiming that fixing wealth inequality and runaway cost of living is important to them.
But hey, if you think that kind of economy is fair then I'm sure you'll find that kind of democracy (anocracy) fair too. Don't like it? Move to a more democratic country.
If you tax the folks who are worth more than $3.5M down to size, the cost of living comes down. If everyone is worth $3.5M max then condos/homes over that price simply do not sell in that market and the price comes down to meet the buyer's market. The 3-bedrooms won't be going for what they are going once you liquidate the assets of the rich.
Dude this area is 7 miles by 7 miles. We have huge earthquakes. How many people do you want moving here into sky rises? You will have to demolish all the single family homes to make this happen. Literally the areas (Bay Area) will go from 15m to 45m
$3.5M wealth is a pretty arbitrary number and makes no sense in today's world. Particularly when you can inherit tax-free 12M dollars without paying federal taxes on it.
Inheritance taxes need to go way up too, but that's a whole other conversation. It deteriorates the "meritocracy" we used to have here and incentivizes wealth-hoarding instead of saving just what the family unit needs and then spending the rest on the economy. So much money is sucked out of the economy via families doing wealth-hoarding.
$3.5M is not that arbitrary when you consider what 2 properties go for in a normal market plus the ability to hoard enough stocks to pay for the kid's colleges and home down payments (plus cars, other assets like that). Anything more than that and a family unit is living in pretty large excess, especially if they're clearing over $100k/year.
Taxes are only as strong as they are enforced. Liberal mayors have enough muscle to enforce their tax policies on the rich. Look at what Tish James is doing as we speak. We can make this work, we just need liberal mayors who are serious about taking the gloves off on decadent wealth-hoarders who raise the cost of living on everyone else with their decadent bullshit.
True because it is the most productive area. Billionaires aren’t good for society. That is an absolute fact but every person wants to be a billionaire. That is a sad, sad thing about America.
I could go on and on about all the tax changes California has made over the last 30 years to help the poor, deepen the tax hit on the wealthy and almost all of them backfired after 20 years. It’s not worth going into here.
We do have more billionaires than is healthy in this area but that is because it is the creates the most jobs in the country. I agree with you that there should be taxes on the billionaires. That can and maybe will happen. Your other ideas may work in Colorado but not here.
Finally, I don’t want to get into an inflation debate. It literally has nothing to do with being able to buy meat at 10 bucks a pound or gas at 7 dollars. You know that and I know that. Issues are in supply not demand and no matter how much you raise taxes the top 10% aren’t affecting prices in such away
Prices move in accordance with demand as much as they do supply. Outsized demand creates inflation because "too much money chasing too few goods."
For example, we have enough housing in Denver to keep up with inflows now (didn't used to be that way), but the difficulty in obtaining an affordable mortgage is reducing demand, which in turn reduces the prices of houses for sale. That is plunging demand affecting the sticker prices of homes for sale. See how changes in demand can change prices now?
If liberals in LA and SF and NYC (the bastions of progressivism) can't pass higher taxes on the rich then they might as well just come out and say "WE'RE ALL FUCKING HYPOCRITES HERE." Like I said, climate change legislation and gun control legislation are very unpopular public issues as well, but that didn't stop California and NY liberals from fighting tooth and nail against rich people to get those laws passed. But wealth inequality and taxing the rich is apparently too tough to tackle. It's time for LA/SF/NY liberals to admit they have a decadence problem and are the principle causes of the wealth inequality they refuse to address. Those same liberals would make those same arguments about conservatives when it comes to gun control and climate change leg. They're too scared to point the finger at themselves on wealth inequality. Hypocrites.
Seriously Travis this makes no sense. We have raised taxes here in California continuously over the last 10 years. We have raised sales taxes, city taxes, local taxes, gas taxes over the last 10 years. Stop making assumptions about why their are billionaire that have NOTHING to do with taxes. There are billionaires because people created enormous companies and their employees got rich by creating millions of jobs. You can’t fix that with taxes.
Inflation is not effected by the top 2%. Stop this. If you think a million people somehow effect the cost of meat, gas, consumables, rent in other areas for the other 330m people in the us, I have a bridge to sell you.
You list every kind of tax except taxes that target billionaires at sufficient rates to make them *not* billionaires. If you're not liquidating their assets then you're not taxing them. It's that simple. Either there are billionaires in your state and the tax code sucks or there would be no billionaires in your state. The billionaires living fat/happy lives in your state right now is the evidence.
Inflated prices remain pegged if rich people are forking over the cash for them. This is why tuition keeps rising even though the college end-product is getting worse. Rich people like the Operation Varsity Blues clowns keep forking over ridiculous money to ensure that their mediocre kids get into the middle class some day.
Whales drive markets. If you think they don't then I have lots of Bitcoin to sell you. 1M rich fucks can move the the market against the other 329M simply because they have more purchasing power via collective wealth.
They pay the most in taxes, but they still have the most rich people, so clearly they're not taxing progressively enough. There are taxes, and then there are targeted taxes. The progressive states are letting individuals and families collect *insane* levels of net worth and not touching them. And then they wonder why prices aren't coming down. Duh dummies, you let these people get insanely rich and then broadened the tax base out too wide instead of targeting your top earners. You punished the consumer class to keep taxes lower on the decadence class via taxing models that were wayyyyy too regressive.
I'm literally lost for words when you have dozens of billionaires living in your state and you think tax rates are too high. California and New York aren't living up to shit beyond preserving wealth inequality within their own political boundaries while alternatively crying crocodile tears about how bad it is. California is a great example of liberal hypocrisy and decadence, and you can tell by looking at how many multi-millionaires and billionaires they have. Between Hollywood and Silicon Valley alone y'all let the rich get away with economic murder.
And two years we have had a budget surplus and a two tax rebates!
Having the most rich people while also having the most progressive tax codes doesn't mean they aren't taxing enough. It means there is value coming from those taxes that allows rich people to still thrive in those locations. If the goal was to eliminate rich people, go to a communist country.
I don't want to eliminate rich people. I want them to be taxed down to much smaller economic sizes of themselves. *Nobody* needs a net worth over $3.5M as a family. Fucking NOBODY. Anyone with a family net worth over $3.5M is living in excess at the expense of raising the cost of living on everyone else and I'm tired of progressives ignoring that issue while claiming that fixing wealth inequality and runaway cost of living is important to them.
But hey, if you think that kind of economy is fair then I'm sure you'll find that kind of democracy (anocracy) fair too. Don't like it? Move to a more democratic country.
Jesus man a 3 bedroom place in sf costs 3m dollars. What are you talking about?
If you tax the folks who are worth more than $3.5M down to size, the cost of living comes down. If everyone is worth $3.5M max then condos/homes over that price simply do not sell in that market and the price comes down to meet the buyer's market. The 3-bedrooms won't be going for what they are going once you liquidate the assets of the rich.
Dude this area is 7 miles by 7 miles. We have huge earthquakes. How many people do you want moving here into sky rises? You will have to demolish all the single family homes to make this happen. Literally the areas (Bay Area) will go from 15m to 45m
$3.5M wealth is a pretty arbitrary number and makes no sense in today's world. Particularly when you can inherit tax-free 12M dollars without paying federal taxes on it.
Inheritance taxes need to go way up too, but that's a whole other conversation. It deteriorates the "meritocracy" we used to have here and incentivizes wealth-hoarding instead of saving just what the family unit needs and then spending the rest on the economy. So much money is sucked out of the economy via families doing wealth-hoarding.
$3.5M is not that arbitrary when you consider what 2 properties go for in a normal market plus the ability to hoard enough stocks to pay for the kid's colleges and home down payments (plus cars, other assets like that). Anything more than that and a family unit is living in pretty large excess, especially if they're clearing over $100k/year.
And of Republicans like Trump always pay every cent in taxes they owe.
Taxes are only as strong as they are enforced. Liberal mayors have enough muscle to enforce their tax policies on the rich. Look at what Tish James is doing as we speak. We can make this work, we just need liberal mayors who are serious about taking the gloves off on decadent wealth-hoarders who raise the cost of living on everyone else with their decadent bullshit.
True because it is the most productive area. Billionaires aren’t good for society. That is an absolute fact but every person wants to be a billionaire. That is a sad, sad thing about America.
I could go on and on about all the tax changes California has made over the last 30 years to help the poor, deepen the tax hit on the wealthy and almost all of them backfired after 20 years. It’s not worth going into here.
We do have more billionaires than is healthy in this area but that is because it is the creates the most jobs in the country. I agree with you that there should be taxes on the billionaires. That can and maybe will happen. Your other ideas may work in Colorado but not here.
Finally, I don’t want to get into an inflation debate. It literally has nothing to do with being able to buy meat at 10 bucks a pound or gas at 7 dollars. You know that and I know that. Issues are in supply not demand and no matter how much you raise taxes the top 10% aren’t affecting prices in such away
Prices move in accordance with demand as much as they do supply. Outsized demand creates inflation because "too much money chasing too few goods."
For example, we have enough housing in Denver to keep up with inflows now (didn't used to be that way), but the difficulty in obtaining an affordable mortgage is reducing demand, which in turn reduces the prices of houses for sale. That is plunging demand affecting the sticker prices of homes for sale. See how changes in demand can change prices now?
If liberals in LA and SF and NYC (the bastions of progressivism) can't pass higher taxes on the rich then they might as well just come out and say "WE'RE ALL FUCKING HYPOCRITES HERE." Like I said, climate change legislation and gun control legislation are very unpopular public issues as well, but that didn't stop California and NY liberals from fighting tooth and nail against rich people to get those laws passed. But wealth inequality and taxing the rich is apparently too tough to tackle. It's time for LA/SF/NY liberals to admit they have a decadence problem and are the principle causes of the wealth inequality they refuse to address. Those same liberals would make those same arguments about conservatives when it comes to gun control and climate change leg. They're too scared to point the finger at themselves on wealth inequality. Hypocrites.
Seriously Travis this makes no sense. We have raised taxes here in California continuously over the last 10 years. We have raised sales taxes, city taxes, local taxes, gas taxes over the last 10 years. Stop making assumptions about why their are billionaire that have NOTHING to do with taxes. There are billionaires because people created enormous companies and their employees got rich by creating millions of jobs. You can’t fix that with taxes.
Inflation is not effected by the top 2%. Stop this. If you think a million people somehow effect the cost of meat, gas, consumables, rent in other areas for the other 330m people in the us, I have a bridge to sell you.
You list every kind of tax except taxes that target billionaires at sufficient rates to make them *not* billionaires. If you're not liquidating their assets then you're not taxing them. It's that simple. Either there are billionaires in your state and the tax code sucks or there would be no billionaires in your state. The billionaires living fat/happy lives in your state right now is the evidence.
Inflated prices remain pegged if rich people are forking over the cash for them. This is why tuition keeps rising even though the college end-product is getting worse. Rich people like the Operation Varsity Blues clowns keep forking over ridiculous money to ensure that their mediocre kids get into the middle class some day.
Whales drive markets. If you think they don't then I have lots of Bitcoin to sell you. 1M rich fucks can move the the market against the other 329M simply because they have more purchasing power via collective wealth.
Whales do not drive markets. I appreciate your passion for the situation but this is not only impossible but also makes 0 sense
They are passing on higher taxes as their state tax rates are high and NYC has it's own city tax rate too.