About iwog

iwog


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386 threads
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Lafayette, CA
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In United States
Registered Nov 10, 2007

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iwog's most recent comments:

  • On 23 Oct 2014 in Middle Class Wealth Gone!, iwog said:

    marcus says

    You are allowed to have a totally convoluted frame of reference on this. But that doesn't mean that anyone (besides tatapu) is going to buy it.

    I have absolutely no clue what your point is. None.

    I invited you and others to demonstrate how debt causes wealth disparity. NO ONE has done so.

    I have already demonstrated several times how deficit spending reduces wealth disparity and even provide a real world example.

  • On 23 Oct 2014 in Middle Class Wealth Gone!, iwog said:

    marcus says

    iwog says

    I think what people are missing is the fact that both taxing and selling bonds takes money from rich people and gives it to poor people.

    What does "taxing bonds" mean ?

    Actually this entire paragraph is nonsensical to me.

    Taxing a rich person and selling a bond to a rich person looks exactly the same to the federal budget. The difference is presumably, someday the bond needs to be paid back.

    marcus says

    Total bullshit. Investors in bonds choose to invest in bond versus all other investments. It is NOTHING MORE THAN THE GOVERNMENT BORROWING MONEY FROM INVESTORS.

    Again.......it's the same damn thing. How come you think there's a difference between a $10,000 tax and a $10,000 bond that is never redeemed? When I say difference, I don't mean is it voluntary or not. I mean exactly what we started out talking about: Wealth disparity.

    marcus says

    Money wan't taken out of the hands of rich people. Those rich people knowingly chose to invest money in bonds rather than keep it in other investment vehicles, presumably out of some desire to be diversified. Bonds perform very well in some situations that other investments don't.

    You're getting hung up on choice? Seriously??

    I can give you $10,000 or I can loan you $10,000. There is no functional difference between the two until the loan is paid back. We can both agree that the federal loans have NOT been paid back, therefore we are back to no functional difference. Wealth disparity is reduced either way.

  • On 23 Oct 2014 in Middle Class Wealth Gone!, iwog said:

    I think what people are missing is the fact that both taxing and selling bonds takes money from rich people and gives it to poor people. BOTH are wealth redistribution and BOTH function in the federal budget in exactly the same way.

    The difference is that in theory, selling bonds is temporary. In practice, it's a permanent wealth transfer. The national debt will never be paid back in current dollars. Furthermore it doesn't matter anyway because we are looking at a period from 1983 until 2014.

    From 1983 until 2014 trillions were taken out of the hands of rich people and given to working class people. The growing national debt mitigated wealth disparity.

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