View Poll Results: What should be done to battle income inequality in the USA?

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  • Do not intervene

    47 51.09%
  • Yes, do intervene

    45 48.91%
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Thread: Income Inequality

  1. #21
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    Re: Income Inequality

    Quote Originally Posted by Peter Grimm View Post
    That's the sad truth.
    Yes it is, and it says more about us as a people, than about China, Walmart, or any other participant in the retail or manufacturing business. People don't want to pay their fellow Americans a decent wage to make our stuff. They want to get a lot for nothing, and when they bitch about American jobs not paying well, they sure as hell don't want to pay Americans to manufacture.
    "God is the name by which I designate all things which cross my path violently and recklessly, all things which alter my plans and intentions, and change the course of my life, for better or for worse."
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    Re: Income Inequality

    Quote Originally Posted by AlabamaPaul View Post
    When all players are competing under different rules, there will be a class of individuals who will be left out, thus enhancing inequalities, especially when the government tries to make up for this with direct payments...
    Well, the U.S. would have more industry if it attempted to compete with nations like China, but nobody seems to be on board with that.

    I would abolish the corporate income tax tomorrow, for example. Not only is not very complicated (another cause of inequality), it puts us at a world disadvantage overall. People believe takes money from the rich-not really, it essentially is a hidden tax on sales that hurts consumers as well as our competitiveness.
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

  3. #23
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    Re: Income Inequality

    Raise the cap on Social Security,
    Encourage unionization of workers.
    Get rid of minimum wage and welfare benefits. Substitute the government as the employer of last resort.
    Quit just playing lip service to ending illegal immigration,
    Get the cost of health insurance off of the backs of the employers.
    Treat all income as equal for tax purposes. No special rates for capital gains.
    Don't bail out entities "too big to fail" then let them pay their chiefs multi billion dollar "bonuses."

    That would be a good start.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

  4. #24
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    Re: Income Inequality

    Quote Originally Posted by Bigfoot 88 View Post
    Well, the U.S. would have more industry if it attempted to compete with nations like China, but nobody seems to be on board with that.

    I would abolish the corporate income tax tomorrow, for example. Not only is not very complicated (another cause of inequality), it puts us at a world disadvantage overall. People believe takes money from the rich-not really, it essentially is a hidden tax on sales that hurts consumers as well as our competitiveness.
    Well, this is a point of agreement...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
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    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

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    Re: Income Inequality

    Quote Originally Posted by Bigfoot 88 View Post
    I believe a lot of this (if not most) ties into monetary policy. Our monetary policy exacerbates the boom and bust cycle. Everyone gets wiped out during recessions, but then the investor class gets bailed out. This creates a huge gap. Low interest rates cut into the savings of people and promote debt, so there is no way people will growing their wealth exponentially. The money not being pumped into consumer credit is propping up the financial industry, creating massively inflated asset prices not in conjunction with realistic evaluations. And finally, inflation erodes at the wages and wealth of most people over time, whereas the investor class has ways to avoid losing wealth to inflation.
    I actually don't have a problem with our monetary policy, I think the Fed does a good job given the current economic climate and that the current money supply/interest rates are appropriate.

    I do think we need better fiscal policy - politicians need to do a better job of balancing the budget for the overall health of our economy.

    But I think what's most sorely lacking is some kind of a plan, politically. Whether that's taking another look at our banking laws, re-examining our trade policies with China, or investing in ways that we can manufacture goods more efficiently here at home (robotics, for example), I don't see any real leadership from Washington on these matters.... and that concerns me.

  6. #26
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    Re: Income Inequality

    Quote Originally Posted by Peter Grimm View Post
    I actually don't have a problem with our monetary policy, I think the Fed does a good job given the current economic climate and that the current money supply/interest rates are appropriate.

    I do think we need better fiscal policy - politicians need to do a better job of balancing the budget for the overall health of our economy.

    But I think what's most sorely lacking is some kind of a plan, politically. Whether that's taking another look at our banking laws, re-examining our trade policies with China, or investing in ways that we can manufacture goods more efficiently here at home (robotics, for example), I don't see any real leadership from Washington on these matters.... and that concerns me.
    It's not so much a problem relating to balancing the budget as it is making sure what is spent is spent in a productive manner...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

  7. #27
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    Re: Income Inequality

    Quote Originally Posted by Peter Grimm View Post
    It's indisputable fact that income inequality in the United States has grown substantially in the past few decades.

    Median nominal incomes, adjusted for inflation, have not gone up in the USA since the 50's. (Median is the halfway point, so we are talking about the middle-earner). In contrast, the per capita GDP has risen quite dramatically, due to the increased purchasing power of the upper echelon.


    I pose three questions to you:

    1.) What has caused this phenomenon
    2.) What are the long term implications if the trend is allowed to continue
    3.) What, if anything, should be done to adjust our course


    Thanks
    I'm deeply concerned with unemployment, wage stagnation, and the relative purchasing power and comfort of the middle and working classes. But not with income inequality itself.

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    Re: Income Inequality

    Quote Originally Posted by Dittohead not! View Post
    Raise the cap on Social Security,
    Encourage unionization of workers.
    Get rid of minimum wage and welfare benefits. Substitute the government as the employer of last resort.
    Quit just playing lip service to ending illegal immigration,
    Get the cost of health insurance off of the backs of the employers.
    Treat all income as equal for tax purposes. No special rates for capital gains.
    Don't bail out entities "too big to fail" then let them pay their chiefs multi billion dollar "bonuses."

    That would be a good start.
    -Invest in worker re-education
    -Invest in technologies that could make us more price-competitive on the manufacturing front.... like robotics
    -Regulate consumer lending policies more carefully
    -Close tax loopholes for companies moving overseas
    -Work with international banking establishments to put pressure on China to end it's currency manipulation

  9. #29
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    Re: Income Inequality

    Quote Originally Posted by lizzie View Post
    It isn't Walmart. Go find me some AMerican made products to buy ANYWHERE. It's not easy to do. The finest clothing stores are selling Chinese crap.
    Greetings, lizzie.

    Good point, lizzie! The only way to make sure clothing is made in America today is if you know someone who sews, and is willing to make clothing for you. From the books I've read, during the Great Depression, every homemaker knew how to sew, and made everything from underwear to everyday clothes for children to their husband's work shirts and pants. You can believe that what was produced was far better made than some of the stuff for sale today, too, because it had to be made to last, since there just wasn't enough money for "one-time" wearing of anything. Do schools today still teach girls to sew, or did that go the way of learning how to preserve foods by canning or drying for future meals? Most Americans aren't lazy...it's just easier to buy even crappy stuff than do it yourself, since many women have jobs outside the home today, and just don't have time.

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    Re: Income Inequality

    Quote Originally Posted by AlabamaPaul View Post
    It's not so much a problem relating to balancing the budget as it is making sure what is spent is spent in a productive manner...
    There is quite a bit of truth to that. The US government borrows at such a favorable rate that, as long as said project pays for itself in the long run, it's probably a good thing.

    You're right about that.

    Still need to show enough fiscal responsibility, though, so that confidence in the dollar remains strong. I think we're too close to the edge there, so someone needs to go through our government programs with a fine tooth comb and cut the ones that aren't producing.

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