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Thread: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

  1. #301
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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Fruityfact View Post
    It makes sense though. Who spends more % of the money they earn? Hint, it ain't rich people.
    Thus money velocity will come from the hands of the poor, as opposed to the rich, who have a lower propensity to spend.
    Economic growth is measured in investment. The poor don't invest in new businesses, technology, equipment or labor. They just spend what is in their pocket. You cant get 'money velocity' from the poor, who by definition, have none.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Fletch View Post
    Economic growth is measured in investment. The poor don't invest in new businesses, technology, equipment or labor. They just spend what is in their pocket. You cant get 'money velocity' from the poor, who by definition, have none.
    I am pretty sure that economic growth is typically measured in real GDP growth. Investment is certainly a part of GDP, and the other 70% of our economy is end consumer goods and services.

    The poor pay not invest in new businesses, technology, or equipment and labor, but by just the slightest of majority, most Americans work for a small business, and according to fox news only 2% of small business owners are in the 1%.

    Anyhow, without demand, there would be no need for new businesses, technology, equipment or labor. Our economy is driven by demand, not by investment. Investment is a result of demand.

    If no one wanted to purchase cars, we wouldn't have too many car dealerships or producers would we? What about horse drawn carriages? Or smartphones?
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    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by Baralis View Post
    I will give you an example of how big business uses their clout to persuade the government to pass laws to stifle competition. I have worked in logistics for over a decade. In the freight brokerage side of things we have about a dozen big players and the rest of the industry is comprised of small businesses many of which only have 1-5 employees and gross revenues of under $500K. Law requires all freight brokerages to carry a $10K surety bond however some of the big dozen are on a campaign to have the law changed to require a $100K surety bond. The larger surety bond has no benefit to these large companies and the only reason they want to have them required is many of the small competitors cannot afford them thus eliminating their competition.

    I agree with big business pushing out competition. But what does that have to do with pay gap. And there is a difference between pay gap and just being rich.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by distraff View Post
    Do you think everyone can become rich?
    Of the 500 richest people in the world approx 273 are first gen. Most American corporations today started as a small business. So it depends if they think they can.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by KevinKohler View Post
    Yes. It's called Citizens United.
    I was expecting the Illuminati or Bildeburg. Corporations wish everyone was rich, then everyone could afford their product.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by reinoe View Post
    yes. The TPP deal that Obama and the Republicans want to keep secret is one example.
    I'm no fan of the TPP. Some rumors I've heard give up some U.S. sovereignty. But there is no way to confirm those rumors or not.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by KevinKohler View Post
    Spot on.
    Thanks!

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by avery45 View Post
    Of the 500 richest people in the world approx 273 are first gen. Most American corporations today started as a small business. So it depends if they think they can.
    All you have shown is that a few people can become rich. I am asking if every single person can become rich together.

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by avery45 View Post
    Of the 500 richest people in the world approx 273 are first gen. Most American corporations today started as a small business. So it depends if they think they can.
    Got a citation that shows that? I've read otherwise.

    The ‘Self-Made’ Myth: Our Hallucinating Rich

    Did the Forbes 400 Billionaires Really 'Build That'?
    The report says 22 percent of the list were born on first base: they came from a comfortable but not rich background and might have received some start-up capital from a family member. This group includes Mark Zuckerberg and hedge funder Louis Bacon, who started Moore Capital Management with help from a small inheritence.

    Only 11.5 percent were born on second base, the report says. Second base is defined as people who inherited a medium sized company or more than $1 million or got “substantial” start-up capital from a business or family member. (Read more: Millionaire Parents Say Kids Are Not Fit to Inherit)

    This group includes Donald Trump, who built on his father’s real-estate business, and Donald Schneider who inherited the Schneider International trucking company.

    The report says 7 percent were born on third base, inheriting more than $50 million in wealth or a big company. The report includes Charles Koch and Charles Butt on third base.

    The report says 21 percent were born on home plate, inheriting enough money to make the list.
    "I never meant to say that the Conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it." --J.S. Mill

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    Re: Inequality Troubles Americans Across Party Lines, Times/CBS Poll Finds

    Quote Originally Posted by MTAtech View Post
    Got a citation that shows that? I've read otherwise.

    The ‘Self-Made’ Myth: Our Hallucinating Rich
    So that means 30 percent started from the dugout, or with nothing. Thus over 50% started in the dugout or first base. Also the Forbes 400 is a worldwide stat. We need numbers for America only.

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