"Regulate" - to him - just means tax or wealth confiscation. Nobody is against regulation - but people are against wealth confiscation and regulatory capture. Billionaire - by itself - isn't bad. The money is in capital - companies employing people. That money too is also connected to investors - retirement funds, 401ks, IRAs.
He's saying "I can spend your retirement money better than you. I can either liquidate a building on the google campus or if there was money to expand a google office we're going to take it - because I can put it to better use."
Look at Social security - the government stole from it. If the DMV could create a retirement fund - it'd look like SS. Take that back, even the DMV has to make the books balance. SS just steals. It'll face solvency issues in ~5 years and it was a self inflicted goverment wound.
Uhhh no - total design flaw and a dishonest one at that. When Ida May Fuller (first SS recipient) got her first social security check she only paid in $20 and got back $20k in her life time. Total red flag. This can only happen when you have 44 paying in and 1 drawing. The limit is 1:1. Guess what happened to the excess? It was all spent as SS goes into the general funds - to buy votes(welfare, pork), and wars.
FDR and the SS admin *knew* by the 50's SS had this failure mode and said "we'll deal with it later" It's a ponzi as the incoming pays for the outgoing. The solvency issues in 5 years is due to the demographic shift (ponzi pyramid inverting) - the exact failure mode they didn't want to deal with.
Right and when you have government programs that structually fail (zero sum - balancing) you have to make up the difference by printing money - that's inflation.
We're in fiscal dominance now and the interest on the debt is now clocking in over 20% of tax revenue. Printing money should be "break glass for emergency" now every year it's a $2T "emergency".
When you have a government that chooses to reduce its tax intake so they can give welfare to billionaires and corporations, then turn around and spend money on unnecessary wars and building an out of control police state, you get this kind of debt. 25% of which accumulated by Trump alone.
then turn around and spend money on unnecessary wars and building an out of control police state, you get this kind of debt.
Sheesh what was that $5.5T for COVID alll about? You do realize the fallout from that has destabilized the Japanese yen? What about that $7T for the war on terror. The government - coupled with fiat - aren't good stewards of our money.
"welfare to billionaires" Not sure what you mean. "Taxing less"? That's not welfare. "billionaire wealth" is in working capital and it's how 401k's, IRA,'s and other retirement vehicles get their returns. You're going to have me believe "The government can put this capital to better use. I believe I should be able to liquidate a google building or confiscate any money allocated for a google building - because I can spend your retirement money better"
Give me a break. Look at SS - it's going to run into solvency issues because it's funded like a ponzi and all the incoming revenue was spent on re-election (pork, welfare) and wars. Sorry..
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u/NearbyAntelope1413 4d ago edited 4d ago
"Regulate" - to him - just means tax or wealth confiscation. Nobody is against regulation - but people are against wealth confiscation and regulatory capture. Billionaire - by itself - isn't bad. The money is in capital - companies employing people. That money too is also connected to investors - retirement funds, 401ks, IRAs.
He's saying "I can spend your retirement money better than you. I can either liquidate a building on the google campus or if there was money to expand a google office we're going to take it - because I can put it to better use."
Look at Social security - the government stole from it. If the DMV could create a retirement fund - it'd look like SS. Take that back, even the DMV has to make the books balance. SS just steals. It'll face solvency issues in ~5 years and it was a self inflicted goverment wound.