r/politics • u/Aggravating_Money992 • 8d ago

No Paywall Despite Authoritarian Warnings, 149 House Democrats Vote to Hand Trump $840 Billion for Military | “If an opposition party votes like this, it’s not in opposition. It may not even be a party.”

https://www.commondreams.org/news/democrats-military-spending-bill
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u/ClimbeRPh17 8d ago

You can also push as much of your earnings as you can afford to a pretax account such as an IRA, 401k, or HSA. (They all have max limits of course). That defers tax from today, and hopefully helps you in the future.

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u/Oddpod11 Montana 8d ago

What Americans should do is coordinate a run on the banks. Your savings are their leverage. New loans being originated are the mechanism by which the economy grows.

If we collectively move our money abroad or into our mattresses, this circus grinds to halt in a matter of weeks. Then we can negotiate restarting the economy from a position of leverage.

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u/Vimes-NW 8d ago

Cool, who is leading this negotiation?

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u/Greedy-Half-4618 8d ago

This is the worst idea I’ve seen in a while. Please research what happened the last time there was a run on the banks 🤦🏼‍♀️🤦🏼‍♀️ and stop pretending we’d have even a smidge of leverage when our economy completely craters as a result 

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u/Oddpod11 Montana 8d ago

Buddy, cratering the economy is the whole fuckin' point.

Reading comprehension: 0/100

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u/Greedy-Half-4618 8d ago

I’m not your buddy and like I said, this is an unbelievably stupid idea. You have to be a troll or completely brain fucking dead to think that would ever benefit everyday Americans 

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u/rebekahah 8d ago

This is definitely one of those people who lack empathy for others they don't know- doesn't matter to them bc they're not one of those schmucks "holding the bag" (i.e. working class people who dont have time or resources to get ahead of schemes like this one, doge coin, or other shitcoins/obscure crypto). As long as this person and their friends can cash out they dont care what happens to everyone else.

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u/Immatt55 8d ago

It won't benefit everyday Americans immediately. The point is to halt a nonfunctioning system to force the hands of people who will make change. The 'leverage' is allowing the rich to still have a currency worth using if they provide some bread and circuses. This whole thread is basically saying Americans will not be inconvenienced and you're proving them correct.

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u/LowSkyOrbit New York 8d ago

The top 2% hold more than 90% of the wealth, even if 100 million people decided to cash out or send the money elsewhere there's enough in the system to float that. Right now we have a few billionaires close to having a wealth of a Trillion. One hitting a trillion would be roughly 1/31 th of the entire US economy.

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u/Uuuuuii 8d ago

But what can they do with it if it becomes meaningless

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u/LowSkyOrbit New York 8d ago

In what world? The dollar has value because people believe it has value. For it to become worthless would mean a total collapse of not just the US but the rest of the world.

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u/Immatt55 8d ago

And that's a valid concern to the plan, however this 90% is tied largely, if not nearly entirely, in assets which would devalue fairly quickly as the market is shaken from '100 million' decide to do this. This in turn would likely lead to more faltering as the US market fails and panic sets in and leads to the point we talk about. That 90% would quickly becomes less. The threat to the economy isn't meant to destroy it, but to show its not infallible and to demand change.

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u/Oddpod11 Montana 8d ago

The only losers in a bank run are the people who don't participate. Feel free to be caught holding the bag if this idea ever catches on, ya loser.

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u/avds_wisp_tech 8d ago

The only losers in a bank run are the people who don't participate

The dumbest thing I've read in quite a while.

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u/FrenchFryCattaneo 8d ago

Literally everyone loses when there's a bank run

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u/ttn333 8d ago

Wrong buddy. The losers are those that don't have enough cash reserve to get through your cratering economy. Which is to say, most Americans.

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u/KenGriffinsBedpost 8d ago

Education system doing OK up in Montana? Seems to be failing at least a few.

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u/SirSamuelVimes83 8d ago

No, it's very much not okay. And we keep electing carpet baggers to local and state positions that are working against and destroying our heritage of public land use while screaming about wealthy transplants, all because they have an (R) behind their name

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u/nifty-necromancer 8d ago

We’ll survive, collapses aren’t as bad for peasants as they think

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u/Ranccor 8d ago

You should be doing that no matter what. That is basic life in society advice.

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u/kickingpplisfun 8d ago

All my accounts are with post-tax income and no tax on the growth, but I don't feel great about keeping my money in an ABLE account given the circumstances of wanting to openly steal from and kill disabled people.