US billionaires' fortunes have skyrocketed $845 billion since March

It's call "free and fair trade". What was set up during the Clinton Administration was neither free nor fair.

 

Trade tariffs are usually a left Democrat and Socialist plank. In 2016, only Trump and Bernie Sanders were touting tariffs on China and other foreign competitors. Conservatives and Republicans were shaking their heads.

I expected a lot of consumer inflation to result from the tariffs, but have witnessed none, so perhaps they are working out better than expected. I have heard Trump say that farmers have been harmed, but he has also funneled relief money (raised by the China tarriffs) to them.

 

Well. Vote sleepy Joe in, and China will start paying these tariffs, making American workers and farmers happy.

 

It doesn't belong to Bezos and it wasn't built here.

 

Trump didn't put many tariffs on consumer items or you would have noticed it.
If you are not a believer go check the Harbor Freight ads from before and after Trump's tariffs. 25% increase.
The farmers were paid with money paid by people of the US because of tariffs.

 

I'm sure Bezos $165mln mansion does not belong to him, and it was not built here either. Thank you for setting me straight!

 

His mansion was built during the depression so I don't think much of that trickled down.

 

We never "own" property here. Just ask anyone who ever got behind on property taxes.

Bezos will now owe and estimated $705,000 in annual property taxes. If some of that money doesn't "trickle down" to taxpayers, then there is definitely something broken in government.

Bezos' salary is $84,000/year. His wealth is dependent on the success of Amazon and other corporations where he is a major stockholder.

 

Farmers would much rather run a profitable business than receive government handouts.

You've seen no inflation? Seriously? Where do you live, and can I go shopping there? Because since March, every time I go grocery shopping, my total is at least half again as much as it was pre-pandemic. And that includes not just food, but dry goods like paper towels and tissue, detergent and disinfectants. Even dog food prices have risen considerably.

 

You just cannot bring yourself man up and admit you were wrong, can you? Gotta deflect from the yacht error and go to the house in an effort "win points" on a public forum. Why is that?

 

OK, you got me there. Bezos maintains, serves, repairs, cooks, renovates and furnishes his home all by himself!

 

Amazon just hit 1,000,000 employees this year. Those employees are paid minimum $15/hour. 1,000,000 millions employees are buying cars, iphones, clothing, and supporting mom&pop restaurants and other businesses. That money trickling down to 1,000,000 people creates a lot of money which "trickles around" in the economy.

 

So did the guy before him. What's your point?

 

1. Do you think the economy is a zero sum game? Is so please explain.
2. How have you been exploited by these people?
3. "Envy is the Religion of the Mediocre" - Carlos Ruiz Zafon.
4. Why should the money earned by someone else by providing goods and services that people want to pay for trickle down to you? What makes you incapable of earning your own money?

 

We agree on something. All of these handouts and giveaways to buy votes ignore the ever growing debt which represents a far greater long term threat than Covid-19.

 

We need a return to the Eisenhower Tax Code.


Agree / Disagree
People have more spending money via Trump
than the Clinton - Bush,Jr. - Obama = 24 years.

 

What does the wine bottle symbolize/represent in your diagram? Where in your diagram are the goods and services provided to people represented?

 

Sorry, most economists think you don't shut the water off to save money while the house is burning...

 

Ever think this may because we export industry and import cheap labor. The idea that we would function as a service economy was flawed.

 

No errors on my part. If the "yacht" (which was brought up as an example) was not built in America, foreign workers received good salaries to build it. But then here's what wiki says:

...A 180′ superyacht costs $4.75 million annually to maintain and run, Kitty McGowan of the U.S. Superyacht Association says. Among the costs: $400,000 for fuel, $350,000 for dockage, $240,000 for vessel insurance, $1 million for maintenance and repairs, and $1.4 million for crew salaries...

That's trickle-down, my friend, big way!

Want more examples?

 

The point is, rich people have a social responsibility to spend and live lavishly.

 

Did I mention that yacht is in the Mediterranean not the Great Lakes, so none of that money reaches the US. Maybe you could call a friend?

 

I see. So he hires more cooks every year... Amazing surge of growth.

 

Economy is not a zero sum game, but the purpose of the government is not to help everyone, but only to people who can help politicians to be elected. It means to people/organizations who can recruit the most influential lobbyist.
Why most Western countries have cheaper and better health services than an average American?
Why nobody stopped outsourcing American jobs overseas (including some manufactures of President Trump merchandise)?
Why the federal debt continue to grow - maybe because the rich people/corporations pay less taxes?

So maybe we should ask the question - is this government of the people, by the people, for the people or the government of the lobbyist, for the wealthy.

 

Well then, Bezos yacht does not contribute to American employees trickle down, you got him there!

Bad, bad Bezos!!!