Yesterday, I heard this on NPR--argument against wealth tax

[MissMillie]

"Every billionaire I know made their billions by providing a productive, useful service or product. And that's why they made their money." (Hedge fund manager Leon Cooperman)

https://www.npr.org/2021/11/10/1054175407/the-super-rich-push-back-against-calls-for-a-wealth-tax


Wouldn't you just love to get Mr. Cooperman on the phone and ask him, "Isn't that how working people make their money? Why does the working class have to pay taxes on money they earn--by providing a "productive, useful service or product" and not billionaires?"

The difference is that the working class puts their money (what they have left AFTER they pay the taxes that the uber-wealthy don't) back into the economy. The billionaire just buys his own stock back to raise the price of the stock they own--and make THEMSELVES more wealthy.

[Walleye]

1. Really?What useful productive service did trump provide to become a billionaire

[Thomas Hurt]

6. Real estate investment opportunities to launder money?

[CrispyQ]

2. The person who exchanges their life's time for wages should be taxed least of all. -nt

[MissMillie]

5. AND makes actually puts money back into the economy

Let's remember the "productive product or service" doesn't get sold without customers.

[Hortensis]

3. NPR and PBS have been corrupted by RW powers.

I still listen to a lot of good stuff in this area while driving, but the dishonest RW influence when it happens is unmistakable. If it sounds surprising for NPR, questionable or outright wrong, it probably is.

[MissMillie]

7. ??????

because they aired an interview?

[zeusdogmom]

8. I just listened to this segment

I don’t think they were peddling RW influence. I heard the journalist set forth the background of what the current tax law is, a bit of what some are proposing for new tax law, and the opposite point of view as stated by someone opposed to any wealth tax. Isn’t that what we want good journalism to be - facts and more than one point of view?

[Hortensis]

13. I didn't hear this and have no reason to assume it's dishonest in itself.

I should have said so, was just pointing out that NPR should no longer be assumed to be unbiased.

[mopinko]

12. i quit listening.

had it on day and night for years. but the bothsiderism was making me crazy. local station is great, but the network? no.

[JohnSJ]

4. If they removed the loop holes, there would not be a need for a wealth tax I suspect. It is the

loopholes that enable the very wealthy to avoid taxes

[colsohlibgal]

9. Nonsense.

We did fine, people still got rich from FDR till Reagan when the top tax rates were quadruple to quintuple what it is now.

They depend on the people remaining clueless about that.

[brewens]

10. The number one factor and predictor of who is wealthy in this country is how much they started

out with. Always has been. Even before we were a country.

[multigraincracker]

11. Nest they'll argue that they should pay

the same property tax as a person that owns a mobil home. After all......