Corona Virus 2019-nCoV

OK, not every billionaire is a greedy hog. There are several very wealthy persons who do indeed return some of their wealth into worthy social services.
Agreed, but again, that's different. "Hardworking" does not equal "charitable."
We all do, because there are so few and their generosity is held as an example of good ole American Capitalist generosity.
Uh - OK. But these are not people I've heard about through the media. These are people I've worked with and gotten to know - so I know it's not just "media bias" or "they are using them as examples, so that's why you know of them."
But that's not unearned income, also known "passive income".
So the only passive income is income from bank savings accounts? OK. An odd definition but OK.
In my book income by any other name is income and should be taxed like all other income.
https://www.investopedia.com/terms/u/unearnedincome.asp
That definition disagrees with yours.
Any other excuse used to lower taxes on any kind of income is just a sales job by "lobbyists", the exclusive salesmen who's offices are in the halls of congress, where they service their accounts, quid pro quo.
Dude, EVERYONE wants lower taxes on their income. EVERYONE. Waitresses want tips to be untaxed. Assembly line workers want low income to be untaxed. Middle managers want $100K salaries to be untaxed. And it's all quid pro quo - lower my taxes and I'll vote for you!
Remember the great bail-out where the government doled out a trillion dollars without any guarantees, which ended up as corporate bonuses paid to CEOs as reward for a sales job "well done", while millions of people lost their retirement savings and their homes.
Yes, I remember them, and they are pretty bad. However, avoid such bailouts and the economy flounders for a lot longer - and more people suffer. A lose-lose scenario.
 
Yes, I remember them, and they are pretty bad. However, avoid such bailouts and the economy flounders for a lot longer - and more people suffer. A lose-lose scenario.
IMO, that is a a complete misconception of the reality. The very rich can afford to lose enormous sums of money, whereas a family making 50,000 a year has an average of 2 months worth of savings before they have to default.
The very rich see themselves as a privileged class who don't need to assume any losses on their investment risks. They never lose either way.
The U.S. debt was $23.4 trillion as of Feb. 19, 2020.1 Most headlines focus on how much the United States owes China, one of the largest foreign owners. What many people don’t know is that the Social Security Trust Fund, aka your retirement money, owns most of the national debt.
How does that work and what does it mean?
U.S. Treasury manages the U.S. debt through its Bureau of the Public Debt.2 The debt falls into two categories: intra-governmental holdings and debt held by the public.
Some agencies, like the Social Security Trust Fund, take in more revenue from taxes than they need. Rather than stick this cash under a giant mattress, these agencies invest in U.S. Treasurys.
This transfers their excess revenue to the general fund, where it is spent. They redeem their Treasury notes for funds as needed. The federal government then either raises taxes or issues more debt to raise the cash.
Which agencies own the most Treasurys? Social Security, by a long shot
.
https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124

Now I ask, "who carries the economy"?

p.s. there are 8 individuals (6 Americans) who own as much wealth as 50% of the rest of the world.
 
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So what? Who could possible argue that U.S. taxes of all kinds are less than in most other industrialized countries? When someone does manage to start a successful company here, obtain a higher wage job, accumulate some gains in their house or stocks, they keep more here and are able to pass more on to their kids without selling the underlying business/asset than in most other countries.

Right, when someone does. But you were stating that there is more "equality of opportunity" in the U.S., and that is demonstrably false--again:
Richer parents can afford to send their children to better schools and colleges and can offer financial support for housing and other expenses. For these and a host of other reasons, where and to whom you are born is a significant determinant of life outcomes, especially in America. Miles Corak of the University of Ottawa reports that it is possible to predict nearly 50% of the variation in wages of sons in the United States by looking at the wages of their fathers a generation before. That compares to less than 20% in relatively egalitarian countries like Finland, Norway and Denmark. In America, more than half of sons born to fathers in the top decile of incomes fall no further than the eighth decile themselves, while only about half of those born to bottom decile father rise higher than the third decile.
(Bolding mine.)

If the subject is being able to keep more of your money then those other things are not being talked about at the moment.

You seem to want to trash anything and everything about the U.S. That's fine, go for it.
Except that's not the subject I was addressing--as evidenced by the portions of your posts that I quoted--I was speaking specifically to "equality of opportunity.

With the other post (# 913) I was addressing the matter of "cost of living." It's hardly ever all that straightforward--the site you linked to was mostly addressing cost of consumer goods and services, which is only one aspect of the cost of living.

And how am I "trashing anything and everything about the U.S.?" I'm mostly addressing things that I see as hugely problematic in the U.S., namely health care and education and opportunity. (In this thread, at least.)

As far as the topic of this thread goes... In all honesty, this COVID-19 thing isn't affecting me personally in the least. I'm not doing anything differently, and I don't--and won't likely, in the future--really need to, as these days I live out in the middle of nowhere.

But when tens, or possibly hundreds, of thousands are going to die, along with all the domestic violence, suicides, unemployment... it goes on. When all of that is almost entirely the result of a single "person's" idiocy, incompetence, and vindictiveness, how could I not be angry?
 
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Seattle said:
So what? Who could possible argue that U.S. taxes of all kinds are less than in most other industrialized countries? When someone does manage to start a successful company here, obtain a higher wage job, accumulate some gains in their house or stocks, they keep more here and are able to pass more on to their kids without selling the underlying business/asset than in most other countries.
Who are you talking about?
Rank NameNet WorthOrigin of Wealth
1Walton family$130 billionWal-Mart
2Koch family$82 billiondiversified
3Mars family$78 billioncandy
4Cargill-MacMillan family$49 billionCargill Inc.
5Cox family$41 billionmedia
6S.C. Johnson family$30 billioncleaning products
7Pritzker family$29 billionhotels, investments
8(Edward)
Johnson family$28.5 billionmoney management
9Hearst family$28 billionHearst Corp.
10Duncan family$21.5 billionpipelines
11Newhouse family$18.5 billionmagazines, cable TV
12Lauder family$17.9 billionEstee Lauder
13Dorrance family$17.1 billionCampbell Soup Co.
14Ziff family$14.4 billionpublishing
15Du Pont family$14.3 billionDuPont (chemicals)
16Hunt family$13.7 billionoil
16Goldman family$13.7 billionreal estate
18Busch family$13.4 billionAnheuser-Busch
19Sackler family$13 billionpain medicines
20Brown family$12.3 billionliquor
21Marshall family$12 billiondiversified
22Mellon family$11.5 billionbanking
23Butt family$11 billionsupermarkets
23Rockefeller family$11 billionoil
25Gallo family$10.7 billionwine, liquor

$722 billion The combined net worth of all 25 families on the list.

https://www.investopedia.com/articles/insights/070116/top-25-richest-american-families.asp

If you want to see which country's GDP is about 722 billions dollars or less, check this out and take a few moments to reflect .
https://tradingeconomics.com/country-list/gdp
 
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Dude, EVERYONE wants lower taxes on their income. EVERYONE. Waitresses want tips to be untaxed. Assembly line workers want low income to be untaxed. Middle managers want $100K salaries to be untaxed. And it's all quid pro quo - lower my taxes and I'll vote for you!
Of course we do. But why is only passive income taxed at a lower rate and who owns the most capital with passive incomes? Oh, and own the most powerful lobbyists/advocates?

When you actually start looking, it is the very wealthy who have the greatest income and relatively pay the least taxes.

Don't get me wrong, I am not anti Capitalism, I am anti unrestricted Capitalism.
It inevitably leads to a completely unbalanced economy and eventual collapse of the entire system.
 
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Sorry, I believe this started with a question about "Medicare for All", which is topical.
Thanks for reigning me in....:eek:
 
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Boris Johnson has gone into intensive care.
Alex
Yes, this unseen enemy has no prejudice and attacks everyone equally. The macabre irony is that a virus isn't even classified as a living organism and needs a host in order to even exist.
A virus is a tiny infectious agent that reproduces inside the cells of living hosts. When infected, the host cell is forced to rapidly produce thousands of identical copies of the original virus.
Unlike most living things, viruses do not have cells that divide; new viruses assemble in the infected host cell. But unlike simpler infectious agents like prions, they contain genes, which allow them to mutate and evolve.
Over 4,800 species of viruses have been described in detail[1] out of the millions in the environment. Their origin is unclear: some may have evolved from plasmids—pieces of DNA that can move between cells—while others may have evolved from bacteria
220px-SARS-CoV-2_without_background.png
Illustration of a SARS-CoV-2 virion

https://en.wikipedia.org/wiki/Introduction_to_viruses
 
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Sorry, I believe this started with a question about "Medicare for All", which is topical.
Well there is no question as to what is the right thing.
All citizens should have Medicare and "free" education. Citizens should be treated as assets educated and healthy...pretty simple really.
To say it's unaffordable in the least is pure rubbish.
Alex
 
It will be interesting how things go over Easter in the USA.

The fact Trump has passed the decision re social distancing to governors says something about the political weight of the crazy.

If as it seems what will happen churches go for business as usual ( Xmas and Easter as we would say in sales are the record months) over Easter things can only get worse.

Is it about praying together or about sales figures?

Scarey stuff to have so many ignorant people in effect risking the future of the entire world..it is said when the US sneezes the world catches a cold...Wall Street crashes other markets follow.

Who said religion is harmless?

Alex
 
The predictions coming out of Washington (State) about Washington State are looking much better. The UW model had projected 1,400 deaths from Covid-19 and it was just revised today to project 632 deaths with the peak coming today and declining into May.

I haven't heard the latest from NY but hopefully that is improving as well.
 
The predictions coming out of Washington (State) about Washington State are looking much better. The UW model had projected 1,400 deaths from Covid-19 and it was just revised today to project 632 deaths with the peak coming today and declining into May.

I haven't heard the latest from NY but hopefully that is improving as well.

So finally the prayers are working.

Mixed messages here but it seems things are improving in Australia.

Our Queen spoke and rallied the Empire, topping what! Good show.

I don't know that we would tolerate any church gathering to spite rational thinking.

Alex
 
So finally the prayers are working.

Mixed messages here but it seems things are improving in Australia.

Our Queen spoke and rallied the Empire, topping what! Good show.

I don't know that we would tolerate any church gathering to spite rational thinking.

Alex
It's Washington State so it can't be prayer based. :)

My Charango arrived in the mail today. I was worried that it might not be a good one since they are prone to having problems that I can't identify until it's actually in my hands. It's a good one and now the good covid-19 results. Coincidence? The key to containing this virus may be consumer purchases of Charangos.
 
The key to containing this virus may be consumer purchases of Charangos.
Playing guaranteeing social distancing? Been watching Billy Strings and Tony Emanuel today...about as good as it gets.
My suburb ( 4000 pop) in the city has 8 cases of virus so I am so glad I left when I did.
Alex
 
Mod Note

Post about microtubules moved to appropriate thread in Alternative Theories...
Thank you. I was considering posting it there to begin with but I thought it might be of interest in context of viral cell division (mitosis).
 
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Boris Johnson has gone into intensive care.
Alex
Yes. It's only a fortnight since he held a conference call with his Brexitty friends in industry, to ask them to make ventilators, which he facetiously called "Project Last Gasp".

That's one joke he won't be making again.

I feel sorry for his pregnant girlfriend , though. She's got it too, of course, but not so badly.
 
Boris Johnson has gone into intensive care.
Alex

What's interesting is how Trump treats his neighbors compared to his "buds". He's offering to send Johnson specialists from leading companies, but was going to withhold sending N95 masks to Canada.
 
What's interesting is how Trump treats his neighbors compared to his "buds". He's offering to send Johnson specialists from leading companies, but was going to withhold sending N95 masks to Canada.
Not just neighbours..

Kushner's translucent presence -- his affect, bereft of even the slightest hint of empathy, in perfect synchrony with his callous words -- was a spectacle suitable for our nightmarish times.

Now we know why Trump has put him in charge of so many intractable problems. Kushner is afflicted by a superabundance of unwarranted self-confidence. He is an introverted Trump; arrogance without flamboyance.

Kushner chastised governors, with citizens literally gasping for air, for asking the federal government to help find life-saving ventilators. "Don't ask us for things when you don't know what you have in your own state. Just because you're scared, you ask your medical professionals and they don't know," he reprimanded.

At one point, he suggested that the federal stockpile of emergency medical supplies is not meant for the states, "It's supposed to be our stockpile," he said. It's unclear who he meant by "our."

[...]

New Yorkers are dying at the rate of one every three minutes. The national economy is now in an induced coma, a desperate effort to prevent an even greater catastrophe. This is when the earth should shake with the sounds of the cavalry to the rescue. Amid all this, Trump unfathomably launches petty attacks on Democrats, and goes on Fox News to tell Sean Hannity, "I don't believe you need 40,000 or 30,000 ventilators," after Andrew Cuomo -- governor of the state that is the national epicenter of the pandemic -- pleads for urgent help.

Gabriel Sherman, in Vanity Fair, wrote that it was reportedly Kushner who told Trump that, "I'm doing my own projections...New York doesn't need all the ventilators," according to a person present at a recent White House meeting on the issue. Cuomo explained, during a CNN town hall on the coronavirus: "It's very simple: A person comes into the ICU unit. They need the ventilator, or they die." The help may be coming, but not without delay.


[There are also links embedded in the text above]​

We can only hope he does not send his translucent ghoul of a son-in-law, now apparently a specialist in dealing with this virus, to Johnson..
 
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