Would a Personal Salary Cap law be the ultimate championship-winning compromise?

[DarrinS]

How about the most progressive countries?

Which ones are those?

[midnightpulp]

The drugs are low hanging fruit. Don't fool yourself, the surgeons are the biggest culprit. My mom's heart doctor charges $250K per pacemaker surgery and he does 3-4 operations per day and only works 3 days per week. That's well over a ing million a week. That greedy pig should be in jail, not in the hospital... but the problem is, the compe ion is all the same these days in this ed up country...

The college for profit industry is another sham. Oh, but cheap tuition or free school? Socialism. Here's a story of the CEO Cisco systems:

Their words that stuck with me weren’t business tips or inspirational tales about chasing dreams, but the story about how John Morgridge got into Madison.
“We came to the university (in 1951) with our Wauwatosa High School diplomas, no SATs, no applications, no essays to write,” John said. “Just our diploma, and 75 dollars for tuition.”

https://doorcountypulse.com/college-...ootstrap-myth/

The current price to go to Madison is like over 20K per year. College costs is another fact that debunks the "bootstrap myth." When tuition is that high, only the fortunate can afford to really go without being saddled with a mountain of debt post graduation. The modern Conservative idealizes the 1950s, but really doesn't want to take us back there when: Marginal tax rates were 70-80 percent on income over 250K (which correlated to the most robust middle class in maybe human history). College was relatively inexpensive. 200-300.00 per year. Adjusting for inflation: 2700.00. Eisenhower was proposing a universal health care system.

[midnightpulp]

Which ones are those?

Sweden, Denmark, Finland, Norway, Germany, etc.

https://ceoworld.biz/2015/10/20/top-...he-world-2015/

[DarrinS]

I understand Darrin's at ude. Red blooded Americans hate "whiners" and have mythologized self-determination and independence to unrealistic levels, so no prideful Americans want to come off as "needing" a billionaire's money or any other kind of "hand out" in order to succeed. Ironic thing is that many of these billionaires got handouts from mommy and daddy, the government, or in the case of athletes, actors, etc won the genetic lottery (a handout by nature). And maybe people like Darrin have the economic freedom to reject such handouts. Great! But many don't have the luxury, and might not be able to "bootstrap" themselves into the American dream. Been proven that a person is likely is stay in the same economic class as the one their parents were in.

I lived in a trailer park with my mom and sister. She's a doctor and I'm an engineer. People can pull themselves up, as they've always could. Not everyone is going to start a Microsoft or Apple, but nothing is stopping them.

[DarrinS]

Sweden, Denmark, Finland, Norway, Germany, etc.

https://ceoworld.biz/2015/10/20/top-...he-world-2015/

I don't want America to emulate any of those countries.

[midnightpulp]

I lived in a trailer park with my mom and sister. She's a doctor and I'm an engineer. People can pull themselves up, as they've always could. Not everyone is going to start a Microsoft or Apple, but nothing is stopping them.

I take you're around 50ish? Cost of education back then? Ever take an IQ test? If you're an engineer, I'm guessing it's at the very least 115+. IQs aren't "earned." Now while I think IQ is an overrated metric for judging the complete mental ability of a person, it does highly correlate with income level. Do you honestly think someone born with a 90 IQ through no fault of their own can "bootstrap" themselves into becoming an engineer, doctor, etc? There's a lot that can stop people, nature, nurture, etc that is out of their control. This doesn't mean give up and ask the government for everything, but even though opportunity might be equal (which I disagree with, since people born into connected families and such will have a huge advantage in that regard), the distribution of natural ability is unfortunately not equal, and that lack of natural ability will limit their earning potential, especially with the decline of lower skilled blue collar jobs in favor of IT centric jobs.

[Will Hunting]

I don't want America to emulate any of those countries.

But you were talking about wealth inequality. How does the wealth inequality in those country’s compare to America’s wealth inequality?

[FrostKing]

Sweden, Denmark, Finland, Norway, Germany, etc.

https://ceoworld.biz/2015/10/20/top-...he-world-2015/

The average citizen from those nations would be cream of the crop American in terms of intelligence, morals/respect and goals. I think it's a cute comparison but America is the land of entertainment

[Winehole23]

But you were talking about wealth inequality. How does the wealth inequality in those country’s compare to America’s wealth inequality?

What's the fun in being successful if you don't have paupers to jeer at for their bad life decisions?

[DarrinS]

I take you're around 50ish? Cost of education back then? Ever take an IQ test? If you're an engineer, I'm guessing it's at the very least 115+. IQs aren't "earned." Now while I think IQ is an overrated metric for judging the complete mental ability of a person, it does highly correlate with income level. Do you honestly think someone born with a 90 IQ through no fault of their own can "bootstrap" themselves into becoming an engineer, doctor, etc? There's a lot that can stop people, nature, nurture, etc that is out of their control. This doesn't mean give up and ask the government for everything, but even though opportunity might be equal (which I disagree with, since people born into connected families and such will have a huge advantage in that regard), the distribution of natural ability is unfortunately not equal, and that lack of natural ability will limit their earning potential, especially with the decline of lower skilled blue collar jobs in favor of IT centric jobs.

I turn 50 this year. You're wading into uncomfortable territory with the IQ stuff.

[midnightpulp]

But you were talking about wealth inequality. How does the wealth inequality in those country’s compare to America’s wealth inequality?

I think the main issue in not being able to convince conservatives in this debate is the way they psychologically project themselves onto the rich, thinking their 100K per year income is somehow equivalent to a 500 million dollar per year income. "Well, I wouldn't want people taking 70% of my money, so it's not fair that I ask Mark Zuckerberg to." I get the logic, but it falls apart when you realize that 100K is not in any way equivalent to 10, 20, 100 million dollars.

In any other situation, the logic here would be clear. If a starving man walked into Burger King and you saw a fat ass with 12 burgers in front of him vs. a dirt faced kid nibbling on a Chicken Nugget, no sane person would ask the kid to give the starving man anything and ask the fat ass to give up one or two of his burgers.

[DarrinS]

I think the main issue in not being able to convince conservatives in this debate is the way they psychologically project themselves onto the rich, thinking their 100K per year income is somehow equivalent to a 500 million dollar per year income. "Well, I wouldn't want people taking 70% of my money, so it's not fair that I ask Mark Zuckerberg to." I get the logic, but it falls apart when you realize that 100K is not in any way equivalent to 10, 20, 100 million dollars.

In any other situation, the logic here would be clear. If a starving man walked into Burger King and you saw a fat ass with 12 burgers in front of him vs. a dirt faced kid nibbling on a Chicken Nugget, no sane person would ask the kid to give the starving man anything and ask the fat ass to give up one or two of his burgers.

This is an an excellent analogy, if there is one lard ass per one starving kid.

I get the whole "soak the rich" bit. The problem is, there aren't enough of them.

How many people make, say, 10M+ annually?

There are over 300M people in the US.

[midnightpulp]

I turn 50 this year. You're wading into uncomfortable territory with the IQ stuff.

How so? If you think I'm hinting at the Race/IQ debate, I think it's bull . IQ (and a psychologically healthy mind in general) is largely affected prenatal, namely the amount of nutrition the unborn receives. Also affecting prenatal development is how much (or lack thereof) stress the mother is under during pregnancy. This is why those Transracial adoption studies "race realists" try to use to say blacks are genetically inclined to be less intelligent are also bull . Doesn't take into account the prenatal environment.

[rmt]

This is an an excellent analogy, if there is one lard ass per one starving kid.

I get the whole "soak the rich" bit. The problem is, there aren't enough of them.

How many people make, say, 10M+ annually?

There are over 300M people in the US.

Funny how the "rich" went from $10 million (OCA) to 1.5 million (early thread) to 1 million (later in thread).

[rmt]

I hope in this US with either 100% tax over 1.5 million or 70% tax over 1 million, we still have the ability to buy access to international sporting events - because no world class athlete will be coming here to play. No more Federer in the later stage of his career, no NBA-quality basketball player (they'll be playing in EuroLeague or China), no Brady this weekend, no Serena, no ...

[boutons_deux]

So the Googles, FBs, Amazons of the future would never be? Over 1.5 million taxed at 100% - what would be the incentive to strive once someone hits $1.5 million? Do you have any understanding of human nature?

your widespread ignorance is showing

human nature?

Scandinavian countries have very high top brackets but "human nature" has not killed wealthy people's incentive

a much more relevant question is why billionaires, even millionaires, are so obsessed with protecting/increasing their wealth (by corrupting politicians, by criminal tax evasion) when they can never possibly spend it all.

[CosmicCowboy]

The drugs are low hanging fruit. Don't fool yourself, the surgeons are the biggest culprit. My mom's heart doctor charges $250K per pacemaker surgery and he does 3-4 operations per day and only works 3 days per week. That's well over a ing million a week. That greedy pig should be in jail, not in the hospital... but the problem is, the compe ion is all the same these days in this ed up country...

250K?

I think you have your numbers wrong. 25K should be more like it and that's for the device, the hospital, nurses, surgeon, anesthesiologist etc. Not saying the surgeon isn't making good money...he probably makes in excess of $500,000 a year but no ing way he is making a million a week.

[boutons_deux]

That time Donald Trump proposed a 14.5 percent wealth tax

1999 was a different world.

Indeed, it’s been kicking around in one form or another since the late 1990s, when an influential then-independent rolled out a proposal that he framed as a way to reduce the national debt while preserving the interests of the 99 percent.

Here’s how the plan’s architect described it:

“By my calculations,

1 percent of Americans,

who control 90 percent of the wealth in this country,

would be affected by my plan.

The other 99 percent of the people would get deep reductions in their federal income taxes.”

His name? Donald Trump.

https://www.vox.com/2019/1/31/182039...x-14-5-percent

[SpursforSix]

Say bye-bye to the NBA. I wonder if Lebron would be willing to work for $1.5 million?

Makes no sense.
If there is a salary cap for everyone, then the best athletes would still want to play. That's the most anyone can make in the OP's dumb ass scheme.
These guys wouldn't be looking for some other way to earn that.

[FrostKing]

Makes no sense.
If there is a salary cap for everyone, then the best athletes would still want to play. That's the most anyone can make in the OP's dumb ass scheme.
These guys wouldn't be looking for some other way to earn that.

They would play overseas. Team from Saudi Arabia would offer him more than even the Lakers are currently paying

[SpursforSix]

They would play overseas. Team from Saudi Arabia would offer him more than even the Lakers are currently paying

I thought this was a universal salary cap.

[FrostKing]

I thought this was a universal salary cap.

Oh okay that's a dumb discussion.

[Winehole23]

Remove the Social Security cap, reinstate the estate tax, treat capital gains like regular income.

Why should investors and heirs of wealth be treated better than ordinary working folks?

[boutons_deux]

Why should investors and heirs of wealth be treated better than ordinary working folks?

The Wealthy Class War LIE is that low capital gains tax encourages investment, but recent PROOF of that LIE is the oligarchy's tax cut resulted in $100Bs of (formerly illegal until Repug legalized them) stock buybacks and almost no capex.

The UnEarned Capitalists bought low tax rate, while making sure Labor pays earned income regressive taxes through the nose.

[SpursforSix]

Oh okay that's a dumb discussion.

The whole thing is a dumb discussion.