@AntoniusOhii Have you heard of #Singapore?
They have the highest GDP per capita in the world and almost no regulations.
Capitalism is doing GREAT there!
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Econ Elliott
1.2K posts
@RBReich Why are you switching between 'effective tax rate' and 'typical tax rate'?🧐
Bait and switch? 🧐
Also, NO ONE is charged an 'effective tax rate'. 🤦🏻♀️
By 'typical', do you mean 'average'? 🤷🏻♀️
For a supposed economist, you are wildly imprecise!
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Effective tax rate paid by Jeff Bezos from 2014 to 2018: 0.98%
Effective 2025 federal tax rate paid by Amazon: 1.4%
Typical tax rate paid by the average American: 14.5%
Just thought I should point that out.
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@LouPerez Capitalism isn't what caused prices in Higher Education to rise...🤦🏻♀️
The government is!
I've never heard of this college, but there are thousands of comparable ones, so there IS competition.
But maybe the government has inflated prices by offering UBI to colleges? (Student loans)
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Kimberly W. Heiman teaches at Muhlenberg College, where it costs $87,696 a year to attend. That's $350,784 for four years.
How many of her students are taking out loans they have no hope of ever repaying to study how "capitalism" is fucking them when they can just look at the bill?
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@ethanmx2 @JamesRHarrigan @nickgillespie True!
In 1935, average life expectancy in the US was 61.7 years for all races. For men, it was around 59.9 years.
That means @SocialSecurity wasn't designed to be paying very many people, and not for that long.🤷🏻♀️
Lots has changed since then!!
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@JamesRHarrigan @nickgillespie When social security first came in it was for those who loved beyond life expectancy.
What retirement needs to do is keep up with progress in health. Raise the age to 72 or 75 now that we’re living into our 80s and 90s.
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Ben Shapiro has apparently never done a day of physical labor in his life.
Joe Rogan Podcast News@joeroganhq
Ben Shapiro: "No one in the United States should be retiring at 65 years old. Frankly, I think retirement itself is a stupid idea unless you have some sort of health problem."
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@kbb2050 @JamesRHarrigan Started UCLA at age 16! Of course he doesn't need to do physical labor! 🤦🏻♀️
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@JamesRHarrigan He attended Harvard. Having that pedigree prevents you from doing physical labor for the rest of your life.
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@RBReich Explain Tiger Woods, LeBron, Oprah, Beyoncé, Jay-Z, Michael Jordan, Magic Johnson, Dr. Dre and Tyler Perry! 🤦🏻♀️
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There are basically 5 ways to accumulate a billion dollars:
1) Profiting from a monopoly
2) Insider-trading
3) Political payoffs
4) Fraud
5) Inheritance
Don’t believe the self-made myth.
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@MichaelDell Explain Tiger Woods, LeBron, Oprah, Beyoncé, Jay-Z, Michael Jordan, Magic Johnson, Dr. Dre and Tyler Perry! 🤦🏻♀️
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Robert Reich forgot the 6th and most common way:
6) Build something millions of people actually want
Robert Reich@RBReich
There are basically 5 ways to accumulate a billion dollars: 1) Profiting from a monopoly 2) Insider-trading 3) Political payoffs 4) Fraud 5) Inheritance Don’t believe the self-made myth.
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@ZeroZerich @OrevaZSN True. Some will.
Some will lobby the government, with their free time, that the 'basic needs' they are receiving are too paltry and ought to be increased. 👍
It's a vicious cycle of never-ending wants.
Not because they are 'bad', but because they are human.
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@ElliottEcon @OrevaZSN You know you may want to have more than basic needs
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@vighneshwho @OrevaZSN What do you think happens to a society where many young, disaffected, unengaged folks, have nothing but spare time on their hands?🤔
If only we could look at history to find out!?!🤯
Oh, wait....smh.🤦🏻♀️
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@vighneshwho @OrevaZSN I am 'suggesting' that people will respond to incentives in predictable ways‼️
Yes, some will choose not to work, some, PT.
A few, if they can earn more, will work FT+ because people have different preferences.
What happens to GDP if 20% of folks stop working? 🤔
Hint: collapse!
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@S2470996073 @OrevaZSN Not sure what you are talking about, but housing is LIMITED by, usually local, governments.
Capitalists would happily build more! 👍🤗🎉
But they are often prohibited from doing do. 🤷🏻♀️
Booms & Busts, of any kind, also created by governments, most of the time. 👍
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@ElliottEcon @OrevaZSN Because we are experiencing a housing boom under capitalism?
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@somais1maria @OrevaZSN Nope! You are conflating 'discomfort' with survival. 🤔 Not even close!
For at least 6 billion folks on earth, almost no one 'starves' or 'dies' based on employment status, & most homeless choose to be for various reasons.🤦🏻♀️ However, under Communism, millions died!
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@ElliottEcon @OrevaZSN You're mistaking incentive for survival. Survival = do this and you won't die / starve / be homeless. Incentive = do this and have a fuller life.
Agreed - people should learn.
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@Harvarddoc32 I don't understand.
Student athletes want to #vote in EVERY state they play in? 🤔 Even without residency?
That doesn't make sense!🤦🏻♀️
What kind of pull do they think universities have with state legislature to overturn centuries of precedent? 🤯
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@USASpoonster @notaproviderMD Ideologically, I agree with you, 100%.👍
Practically, I feel like we don't see great results from ANY politicians. 🤷🏻♀️
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@notaproviderMD If anything, it's about this:
Republicans think black ppl are CAPABLE, & try to make sure they are empowered.
Democrats think black ppl are INCAPABLE, & try tomake sure they are "taken care of".
Republicans for black people: EMPOWERMENT
Democrats for black people: DEPENDENCY
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I’m begging someone to tell me what power black people are losing. How does lost Democratic Party power equate to lost black American power?
Jamie Dupree@jamiedupree
We might be watching the fastest rollback of power for Blacks in the South since Hayes ended Reconstruction in 1877.
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@JamesRHarrigan @MichaelDell I read an article, about a decade or 2 ago, that said Robert Reich said or wrote something grounded, plausible, and sensible in like 1980!! 🤯🤯
Not 'right' anywhere near as often as a broken clock, but miracles happen!
🤣😂🤣
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He didn't forget, @MichaelDell, he is congenitally incapable of understanding.
Michael Dell 🇺🇸@MichaelDell
Robert Reich forgot the 6th and most common way: 6) Build something millions of people actually want
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@RoKhanna Your form of 'democracy' is changing the rules to benefit yourself and your party?🤔
Wow! 🤯🤯🤯
What about the people you are supposed to represent? 🤦🏻♀️
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@JamesRHarrigan On brand for the Cali Commies! 🤷🏻♀️🤦🏻♀️
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@Strandjunker Productive jobs aren't created by the government. 🤦🏻♀️🤦🏻♀️🤦🏻♀️
Only taxpayers sucking jobs are.
That explains it. 👍
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Total Jobs Created by Party (1989-2026):
Democratic Presidents
50,600,000
Republican Presidents
1,469,000
The biggest scam the GOP has ever pulled off is convincing people that Republicans are good for the economy.
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