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LiberalBear

(27 posts)

71. Unrealized cap gains

Fri Jul 25, 2025, 12:34 PM

Jul 25

As US economic productivity has gone up dramatically since 1980 due to increased efficiencies in large part driven by technology and "free" trade, while labor has been weakened in its role to impact markets. The result, helped by US tax laws that reward investment but punish work, a huge increase in disparity of wealth between educated and uneducated and young vs old. There is an obvious and clear answer to this problem and that of the national debt. Progressively tax unrealized capital gains and balance the tax codes revenue generation by capturing a piece of the economic productivity that currently remains untaxed. Notably, as unrealized capital gains grow in accordance with economic growth, these investments do not lay dormant for those who hold them as these large stock portfolios are leveraged for a wide range of economic activity to avoid paying income tax. I don't need ChatGPT tell me this as it is obvious to anyone who can count....but what the hell, good to know I am at least 15 years ahead of AI.

https://www.msn.com/en-us/money/personalfinance/i-asked-chatgpt-what-would-happen-if-billionaires-paid-taxes-at-the-same-rate-as-the-middle-class/ar-AA1I2aW5?ocid=entnewsntp&pc=LCTS&cvid=c1cdf97f50fa41d08eb2fc496ac9e064&ei=17

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Highlight:

The Difference between a 23YO American in 1980, and a 23YO American in 2025 [View all] maxrandb Jul 25 OP

I was 22 in 1980 and made $4 per hour MichMan Jul 25 #1

I was 19 in 1980 and I made somewhere in the $3.50-$4.00 range SickOfTheOnePct Jul 25 #6

Worked in NY in 1980 nowforever Jul 25 #27

I made $4 an hour in 1970, union job. Ocelot II Jul 25 #51

I started my teaching career in 1965. pazzyanne Jul 25 #57

My first year teaching OrangeJoe Jul 25 #103

I was 15 in 1976 and made $3 an hour working 12 hours a week. haele Jul 25 #62

I was a Union Carpnter in 1980 and made about $9.00... Woodycall Jul 25 #74

I was Union Labor in 1980 Seinan Sensei Jul 25 #104

At the age of 18 in 1977, I was making $1.50 an hour Kaleva Jul 25 #2

You made $12.60 an hour in 1980? Hard to believe. Katinfl Jul 25 #3

I have the receipts! maxrandb Jul 25 #4

I don't doubt it but also think you were exceptionally lucky newdeal2 Jul 25 #42

So you made $9.00 more an hour in 7 years. Remarkable. Katinfl Jul 25 #66

I started while still in High School as a part-time cashier maxrandb Jul 25 #72

I can corroborate that grocery store cashiers in Ohio back then made good money. Diamond_Dog Jul 25 #102

You are to be believed. North Shore Chicago Jul 26 #113

It's not that we don't believe you... radical noodle Jul 25 #92

I was getting $8.50 an hour. hunter Jul 25 #45

From reading the first two posts here. Omnipresent Jul 25 #5

*replied to wrong post* SickOfTheOnePct Jul 25 #7

It was an exceptionally good job maxrandb Jul 25 #14

Military pay wasn't very good back then. COL Mustard Jul 25 #40

Yeah, I think my E1 pay was like $350 a month maxrandb Jul 25 #75

It's funny but I pay more in taxes today COL Mustard Jul 25 #77

That's odd TnDem Jul 25 #95

Saturday Night Live TheDemsshouldhireme Jul 25 #87

I don't know how you did that TnDem Jul 25 #8

He didn't. That was after seven years, starting at $3.50. nt eppur_se_muova Jul 25 #23

$3.50 in 1973 was GREAT money TnDem Jul 25 #26

What happened to this country was the Reagan and Republican embrace of Milton Friedman's economic theories. Lonestarblue Jul 25 #9

As bad as it was under Reagan, it was even worse under Ford and Carter TnDem Jul 25 #13

Don't forget 18% interest rates on mortgages. COL Mustard Jul 25 #53

It has nothing to do with either party TnDem Jul 25 #41

Yep... but... OldBaldy1701E Jul 25 #50

It was in the mid to late 80's roughly Hey Joe Jul 25 #56

Indeed. moondust Jul 25 #79

Other countries got nice things in the last 45 years. We got Rush Limbaugh, Fox News and Donald Trump. Initech Jul 25 #94

In 2010 I applied to a glass manufacturer in western PA Orrex Jul 25 #10

Your experience in 1980... SickOfTheOnePct Jul 25 #11

No, not typical, but it was a solidly middle class job maxrandb Jul 25 #17

bipartisan policy rampartd Jul 25 #12

Austerity for the Middle and Poor! Wealth for the already wealthy maxrandb Jul 25 #15

I moved out of my parents' house in 1980 at age 22 LSparkle Jul 25 #16

I bought my first car in 1976 maxrandb Jul 25 #18

I first started working in the 80s Johnny2X2X Jul 25 #19

I worked at the USPS in a student part time cachukis Jul 25 #20

As a person who grew up in Cleveland I'd like to know... llmart Jul 25 #21

Big Bear maxrandb Jul 25 #29

Somehow I don't remember Big Bear but I lived in the suburbs of NE Ohio. llmart Jul 25 #31

My birthday is also a Holiday maxrandb Jul 25 #34

I was born and raised in Cleveland BeerBarrelPolka Jul 25 #39

Yes, those are the ones I remember. llmart Jul 25 #65

Well TnDem Jul 25 #46

My first "real" job. I was 19 (1961) and it was a job with the N.J. Workmen's Comp bureau. $45 per week. 3Hotdogs Jul 25 #22

Really enjoying the comments via the wayback machine. Young people today NoMoreRepugs Jul 25 #24

I'm the same age and also an Ohioan mama Jul 25 #25

Walmart isn't hiring BigMin28 Jul 25 #28

I can't remember where I saw it maxrandb Jul 25 #30

That came up the other day on a thread here SickOfTheOnePct Jul 25 #37

That has been a standard feature of WalMart's business model for many years now from what I have read in the KPN Jul 25 #44

People don't realize how bad looking for a job is now. Oneironaut Jul 25 #32

I think TPTB don't realize this. But I totally agree with you. raccoon Jul 25 #69

$2.35/hr in 1977 pfitz59 Jul 25 #33

I earned about $10 an hour as an engineer with two degrees. rickford66 Jul 25 #35

Have a friend who had a job like that Freddie Jul 25 #36

I appreciate your posts about this. yardwork Jul 25 #38

In 1980 the inflation rate was 13.50 % Historic NY Jul 25 #43

Inflation TnDem Jul 25 #48

Inflation was 12.5% in 1980. Economic contraction was already underway -- decline in gross national income and jobs. KPN Jul 25 #52

In that era, ForgedCrank Jul 25 #47

The messaging all along has been that the billionaires and the one-percenters FakeNoose Jul 25 #49

Shows like "Lifestyles of the Rich and Famous" are partly to blame.... lastlib Jul 25 #54

Did you stock Fort Knox? ThreeNoSeep Jul 25 #55

Thank you and well sad maxrandb, I never tire of this story. c-rational Jul 25 #58

Younger than you but can relate as a Gen X born in 1970...I can relate JT45242 Jul 25 #59

I was a teacher in 1980, Ms. Toad Jul 25 #60

My Dad was also a Mustang sdfernando Jul 25 #61

If your dad served TnDem Jul 26 #109

Dad was an artillary officer in Korea. sdfernando Jul 26 #114

Thanks to Ronald Reagan. Martin68 Jul 25 #63

One impoverishing fad after another PATRICK Jul 25 #64

I'm right there with 'ya Patrick bagimin Jul 25 #80

I was working for Fisher Foods in Ohio in 1968, just out of high school..... FadedMullet Jul 25 #67

Thanks! I guess that's my point maxrandb Jul 25 #70

The right wing in Ohio went nuts when the legislature considered a $15.00 an hour minimum wage a while ago, while.... FadedMullet Jul 26 #115

It's not what "we" did, it's what "they" did Wicked Blue Jul 25 #68

Unrealized cap gains LiberalBear Jul 25 #71

In 1970 Mblaze Jul 25 #73

I started working in 1984 iirc and made 3.45 thatdemguy Jul 25 #76

It seems like people don't want to believe you. 1WorldHope Jul 25 #78

Gas was actually more expensive back then Kaleva Jul 25 #83

My Friend's Dad owned a 76 Station in Stockton in 1989ish.. StocktonNative Jul 25 #97

Some interesting facts Kaleva Jul 26 #110

Same dcmfox Jul 25 #81

This helps to understand the rise of conspiracy theories and widespread corruption. SleeplessinSoCal Jul 25 #82

I thought I was doing good when I managed to pick up slightlv Jul 25 #84

Ronald Reagan wryter2000 Jul 25 #85

1980 TheDemsshouldhireme Jul 25 #86

ah yup! well put. bluboid Jul 25 #88

Lived it. joanbarnes Jul 25 #89

US societal decline during my life span, divided into fractional Thirds Dock_Yard Jul 25 #90

I was 23 in 1980 and grossed $10,000 a year ... Auggie Jul 25 #91

they keep rebranding tinkle down + still is claptrap. even in my teens when reagan ran on it it sounded stoopid. pansypoo53219 Jul 25 #93

My Mom was a Stockton Unified School District Secretary... StocktonNative Jul 25 #96

"No longer valued labor, we valued wealth." I think you nailed it! Rec. Evolve Dammit Jul 25 #98

$12.60 in 1980 is $49.32 today..... madville Jul 25 #99

I've seen this before TimeToGo Jul 25 #100

Did you work for a relative? I grew up in Ohio, and no one I knew made that much money. phxjurist Jul 25 #101

It's not just America over the decades, it is a global thing. Aussie105 Jul 25 #105

I find it really hard to believe that you made $12.60 an hour working as a grocery stock clerk in 1980 Jack Valentino Jul 25 #106

That's a union job. I was making $3.50 an hour in Arkansas working construction non-union Weyerheauser contractor. rickyhall Jul 25 #107

I am 63 and agree 100%! BigmanPigman Jul 25 #108

Absolutely 💯 benfranklin1776 Jul 26 #111

$2.35 as a library assistant in 1978, and $13 on my first co-op term in 1982. lostnfound Jul 26 #112

Just a final follow up post maxrandb Jul 30 #116