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The Official US Politics OT

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Baalzamon said:
For what it is worth, I don't think Trump really belongs in the same discussion regarding a what's wrong with the majority of rich people.

For one, I'd hardly qualify him as extremely wealthy by his own means. He is one that inherited a fortune, and quite frankly, really hasn't done much of anything with it.

For another, there is huge discrepancy regarding how much he is really worth, and I'd say the lower end of the spectrum is likely much more accurate, knowing how much he acts like a bozo.

He also seems quite substantially more selfish with his money than many of the Uber wealthy, who as I've discussed have either donated billions already, or pledged to donate a substantial portion of their money towards charitable organizations.

There will always be super shitty people, no matter where you look...and you can't really judge an entire class of people just off of these shitty peoples actions.

Yeah, I think one of the main problems in society is inheritance, but I really don't see what can be done about it unfortunately. I don't have much of an issue with self-made wealthy people. They'll likely generate significant taxes and create jobs along the way, and in most cases are being rewarded for hard-work and talent. It's when these people can then transfer this reward to off-spring who have done absolutely nothing to deserve it that's the problem. It both punishes everyone else who haven't had this foot-up by having to compete with people who've had the hugest of head-starts, and I think also has a detrimental effect on the kids themselves as they haven't had to learn the value of money or know what it's like to live life without a safety net - which I think is fundamental in building character. Getting knocked around a bit by life I think also teaches you empathy as you can relate to other's misfortunes and pain.

I'm not saying there's no such thing as a nice trust-fund kid but they often seem to lack 'something', there's nothing behind the eyes...

It delivers unearned money & therefore power into the hands of people who aren't competent or responsible enough to wield it properly.

Trump is a great example - where do we think he'd honestly be without his silver spoon? I'm guessing some kind of used car salesman or 2-bit loan shark. And yet, because of inheritance (or the transference of wealth if that's a better fit) he's the gaddamn President! It just illustrates how much of a perversion of our system it creates. Society thrives in meritocracy - yet it feels like it revolves more and more around nepotism... Or maybe it's not getting worse, maybe it's always been like this, I dunno.

This problem is illustrated in the ever-growing wealth inequality in our society and I can't see that changing any time soon sadly...

Interesting talking points though Baalzamon!

EDIT - maybe I'm being harsh on Trump - I guess that if he'd had to start from zero, like most of the rest of us, he'd have turned out completely differently. If he didn't have a team of lawyers and the fruits of Daddy's money behind him he'd have had to engage with people on a genuine, human level. Rather than threatening to stiff, fire or sue people he'd maybe have developed a warm and endearing personality - and who knows, potentially still be President, just an altogether different kind...

Last edited by Biggerboat1 - on 12 November 2019

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CaptainExplosion said:
Jumpin said:

So you think he's going to blackmail Ivanka's mouth into blowing his brains out?

You do realize I meant killing Erdogan, right?

That would be some climax!



I describe myself as a little dose of toxic masculinity.

Look at the so-called US President's signature. It looks like it says something like Munla Trundal. It's preposterous!



I describe myself as a little dose of toxic masculinity.

So it appears that the Fed Chair sent a broadside over to Trump concerning the "Unsustainable Government Debt".
https://www.usatoday.com/story/money/2019/11/13/interest-rates-powell-tells-congress-federal-debt-unsustainable/2582302001/

Since the Tax cuts and the national debt ballowing, we have heard nothing from Trump on the debt and his solution to it raising during his presidency, compared to when he was on the campaign trail telling us his great solution to solving it. After a bunch of rate cuts to keep us from a recession, it appears that the Fed is not willing make any more cuts and pretty much told the President to get the debt in line or risk the economy growth going below where it currently at.
I am not sure about anyone else, but I definitely do not have any confidence in Trump trying to tell the Fed head what to do based on his previous management of his own properties. I have this feeling that Trump is more than happy to continue to pour gasoline on the economy as long as it make him look good in the short term while nuking us in the future for his own benefit.



US debt will keep growing and growing regardless of who is in charge. Decreasing debt means cutting government spending, and no politician wants to do it because it means losing popularity/voters.

US is destined to have its debt doubled every 8-10 years until it eventually kills the country within.



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CuCabeludo said:

US debt will keep growing and growing regardless of who is in charge. Decreasing debt means cutting government spending, and no politician wants to do it because it means losing popularity/voters.

US is destined to have its debt doubled every 8-10 years until it eventually kills the country within.

Actually you are correct, I did not mean national debt I ment the Federal deficit.  With the deficit ballowing out of control and doesn't appear to be getting in check since Obama reduced it, this is where the impact on our economy will suffer the most.



CuCabeludo said:

US debt will keep growing and growing regardless of who is in charge. Decreasing debt means cutting government spending, and no politician wants to do it because it means losing popularity/voters.

US is destined to have its debt doubled every 8-10 years until it eventually kills the country within.

Growing debt is not a problem as long as the economy grows faster than the debt.

Like, if the debt is growing, but as a percentage of the overall economy is shrinking, then it's fine.

I don't know if this is the case with the US though....



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KungKras said:
CuCabeludo said:

US debt will keep growing and growing regardless of who is in charge. Decreasing debt means cutting government spending, and no politician wants to do it because it means losing popularity/voters.

US is destined to have its debt doubled every 8-10 years until it eventually kills the country within.

Debt is not a problem as long as the economy grows faster than the debt.

Debt has been increasing faster than the economy for quite some time. This is the reason the Debt/GDP ratio is growing rather than keeping the same value.



In 2000 US Debt/GDP ratio was 50%, now it's 106%. If the debt had increased on par with the economy in the past 19 years, today the ratio should still be 50%.



My understanding is the debt doesn't even show the true size of the issue either. I thought it didn't even include unfunded future expected liabilities (like that social security is technically underfunded etc).



Money can't buy happiness. Just video games, which make me happy.