It's happening right now.
The rich can not stay rich in our economy, free competition and high taxes ensures the rich have to continually work and produce to stay rich.
They do not have to work because they own the resources.
Rich will be paying all the taxes to everyone else the rich will become the new resource taps that everyone else can live off.
And they're being taxed away from them.
So if all the money gets moved out of the country, we can simply replace the money that left with newly created FED money.
Democrats run the government right now and DEmocrats hate the rich, it's why the rich in the U.S under Democratic policies get squashed to build more suburbs and apartments.
True. Most rich Americans vote Republican or Libertarian, but Democratic leaders are very hungry for power, just like Republicans. I hope we don't reach my prediction, but the best thing we can do is to vote the best leaders.
I have to admit that I don't live in the USA so I don't know whether this would work or not. But if this plan comes from you then it probably doesn't work.
You're an idiot. Compare tax rates to revenue and see if anything is being taken away.
Revenues don't matter, only net income does.... of course governments don't tax revenue, they tax the profits remaining after expenses.
Taxes are a fraction of the income being made. How exactly are their resources being taken away when they are growing? They still retain the principal resource.
Same could be said about anybody who saves more than they spend. Nothing stopping anybody from saving their after-tax income more than they spend.
That would require an income, I think you might have lost the train of thought since you posted this earlier in the morning, but my original point was that automation would eliminate the need for as many workers and there would be a job shortage, leading to an influx of people with no income. You stated that the rich are dependent on the poor to produce. I said they are not dependent because they have more than enough resources to last several lifetimes. You said those resources are being taken away, but they are not, only the gain they earn by simply owning the resources are being cut into. If production stopped, they would need to dip into the principal resource to survive but they can survive for a very long time. The people at the bottom of the barrel cannot. They will suffer immensely from lack of income.
Well we kind of derived a new topic after we started arguing about taxes. I was just trying to point out that the rich are taxed, and to a greater degree than anyone else. Just because their assets keep growing doesn't mean their resources aren't being taxed at a higher rate. Anyone can grow their resources.
Perfect example of how wrong you are. There is currently a lifeguard shortage. Lifeguards are poorly paid and there are not enough laborers who are willing and able to work a lifeguard post. Ability has to meet the need. There is a reason why we do not ever have a 0% unemployment rate. People cannot do any job. Automation will eliminate simple jobs and the only ones left will be skilled jobs. New business ventures in new spaces will employ automation as well. Once unskilled jobs are eliminated and skilled jobs are greatly reduced, you'll have more people than new accessible jobs. It might reach an equilibrium eventually but you'll have a lot of suffering before you get there.
>There is currently a lifeguard shortage
We have one of the highest unemployment rates as well. Demand for skilled labor is high. Demand for unskilled labor is not high enough to raise wages because they are non essential positions. That is why they remain vacant.
That's because people are choosing not to work.... not because there are no jobs available.
They are choosing not to work because the jobs available do not pay the minimum required to survive. I dont believe you are really a financial consultant. I don't think you even took MacroEcon.
Agreed it's a meme like AI and nuclear fusion
They pay more than enough to survive. I can easily write out a budget on excel that shows you just how easy it is to live if you actually don't spend everyday on drugs.
Please write out the budget, I would love to see it. You can make it for the average American household? 2-3 working adults and 2-3 dependents?
I don't understand all the hype with AI. It's not an artificial intelligence at all.
are you being ironic? wtf is this retardation
Well if you have 2-3 dependents that screws everything up.
>The word "process" is important here. If competition is viewed as a dynamic, rivalrous process of entrepreneurship, then the fact that a single producer happens to have the lowest costs at any one point in time is of little or no consequence. The enduring forces of competition — including potential competition — will render free-market monopoly an impossibility.
It does but shouldn't we consider most Americans when talking about the impacts of automation?
Yes... but i don't see how it's the fault of automation that Americans can't afford 2-3 dependents. If anything automation will make it easier for them by making them richer.
It won't make them richer is the problem. There is a basic need that is required. Automation eliminates jobs that most Americans are able to fulfill as is. It would either have to be accompanied by a program to educate and train them to do the new jobs that will exist, and those jobs will have to pay enough to support a family on two income in order to maintain the status quo. Any additional wealth generated is funneled upward.
Automation will improve the pay of the new jobs it creates... because the dollars that these new jobs pay will have higher purchasing power due to the lower cost production brought about by automation.
Or prices will simply remain the same and businesses will take bigger margins instead.
Then that will draw in competition who will undercut them with lower prices.
For some sectors
Why not all?
