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. #571
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    Re: Income Inequality

    Quote Originally Posted by TurtleDude View Post
    you have backtracked from STARVING to hungry

    Nice FAIL

    STARVE: SUFFER SEVERELY OR DIE FROM HUNGER

    sorry millions were not starving in the USA under Eisenhower
    No you just disproved yourself. Starving means to suffer greatly from hunger (as you stated) I proved their were millions and still are even more today suffering from absolute hunger ie starving.

    You failed.
    Quote Originally Posted by TurtleDude View Post
    its amazing how you can blame anyone but those who are fat for their condition

    listen-stop whining and stop blaming others for your lot
    Yea right its their fault they fan only afford to eat at McDonalds... OK... Ppl like u should be jailed!

    Lawyers will be the death of us all I tell you what...

    Quote Originally Posted by GBFAN View Post
    You probably don't want to go there ... you're way out of bounds in your assumptions. They do have the same opportunities that I had ... I came from where they are. The difference was I used it as a motivator, they use it as an excuse.
    Really? Where did you come from? I'm from inner city philly....

    Your just wrong again... And honestly I think most ppl lie to prove a point on the iterwebz.

  2. #572
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    Re: Income Inequality

    Quote Originally Posted by b_dubz View Post
    No you just disproved yourself. Starving means to suffer greatly from hunger (as you stated) I proved their were millions and still are even more today suffering from absolute hunger ie starving.

    You failed.

    Yea right its their fault they fan only afford to eat at McDonalds... OK... Ppl like u should be jailed!

    Lawyers will be the death of us all I tell you what...



    Really? Where did you come from? I'm from inner city philly....

    Your just wrong again... And honestly I think most ppl lie to prove a point on the iterwebz.
    you didn't prove anything



  3. #573
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    Re: Income Inequality

    Quote Originally Posted by lizzie View Post
    Nothing should be done, that isn't already being done. Income equality is a reality, because people aren't all equal in intelligence, drive, ingenuity, and just plain old luck. I strongly support reward for efforts, education, and industriousness, and I strongly dislike paying people for doing nothing.
    The main determinant of how much wealth a person has is how much wealth their parents had. By all means, we all want hard work and ingenuity and whatnot to be rewarded, many of us just think that we need to counterbalance the massively disproportionate access to opportunity that people get at birth. We'd rather a country where hard work or intelligence were the main determinant of success, but smart, hard working, people whose parents aren't rich face awfully long odds these days.

  4. #574
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    Re: Income Inequality

    Quote Originally Posted by b_dubz View Post
    Really? Where did you come from? I'm from inner city philly....

    Your just wrong again... And honestly I think most ppl lie to prove a point on the iterwebz.
    Believe me, I don't have to lie.

    But,you have CLEARLY demonstrated your unwillingness to even remotely consider anything that does not fit neatly into your fantasy world.

    Congratulation on the close-minded approach ... you've taken it to a whole new level. You don't even want to hear that there might be alternatives to your position. It must be really boring to be so positive that you are always right.

    Don't worry ... you won't hear my story ... I wouldn't want to bore you.
    We're born alone, we live alone, we die alone. Only through our love and friendship can we create the illusion for the moment that we're not alone.
    - Orson Welles

  5. #575
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    Re: Income Inequality

    Quote Originally Posted by tuhaybey View Post
    The main determinant of how much wealth a person has is how much wealth their parents had. By all means, we all want hard work and ingenuity and whatnot to be rewarded, many of us just think that we need to counterbalance the massively disproportionate access to opportunity that people get at birth. We'd rather a country where hard work or intelligence were the main determinant of success, but smart, hard working, people whose parents aren't rich face awfully long odds these days.

    do you have any kids? I sort of doubt it. most of what I do, in terms of spending, and investment-is based on my desire to leave my son in a better position when I die, than where I was when my father died. and that was his goal and the goal of his father etc going back to the 1780s. that is why my family has been wealthy since Nicholas Longworth was the first millionaire west of Pittsburgh.



  6. #576
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    Re: Income Inequality

    Quote Originally Posted by Henrin View Post
    They obtain it through government sanctioned theft though. If I steal some of the stuff of the richest guy on the block and give it to the poorest there is little doubt I will raise living standards overall. Economic policies that amount to theft are really nothing more than grand school idiocy.

    Grand school idiocy?

    Yes, their taxes are no doubt a bit higher than ours in the USA, but if you add up all of the taxes we pay, add in the cost of medical insurance, add in college tuition, and we'd be paying more than they do in Denmark. For their taxes, they get a higher standard of living.

    And, I seriously doubt they are able to pay for everything by taxing the rich.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

  7. #577
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    Re: Income Inequality

    Quote Originally Posted by tuhaybey View Post
    The main determinant of how much wealth a person has is how much wealth their parents had. By all means, we all want hard work and ingenuity and whatnot to be rewarded, many of us just think that we need to counterbalance the massively disproportionate access to opportunity that people get at birth. We'd rather a country where hard work or intelligence were the main determinant of success, but smart, hard working, people whose parents aren't rich face awfully long odds these days.
    If you only compare the colors black and white, you will always find "massively disproportionate" differences. However, that's not what life is ... that is a fantasy.

    Are you telling me that the poor today face a disproportionate amount of hurdles, when compared to the poor of yesterday?
    We're born alone, we live alone, we die alone. Only through our love and friendship can we create the illusion for the moment that we're not alone.
    - Orson Welles

  8. #578
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    Re: Income Inequality

    Quote Originally Posted by TurtleDude View Post
    do you have any kids? I sort of doubt it. most of what I do, in terms of spending, and investment-is based on my desire to leave my son in a better position when I die, than where I was when my father died. and that was his goal and the goal of his father etc going back to the 1780s. that is why my family has been wealthy since Nicholas Longworth was the first millionaire west of Pittsburgh.
    Not sure how you think that is relevant to what I said. Can you explain?

  9. #579
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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
    For what has caused this phenomenon, I posted this on another thread earlier:

    Much has been distorted about those tax rates of the 50's compared to tax rates now. But an honest evaluation of that shows that we now have only a small fraction of the deductions and tax shelters that were available to the rich back then. That is why when those deductions and tax shelters were reduced, as soon as the behaviors changed as a result, the rich were paying more than ever in taxes at the lower rates and were paying a slightly higher percentage of their income. The lowered profit margins, however, were more than offset by vastly increased volume and the rich did profit mightily. But so did everybody else too.

    And in the 1950's we had a tiny fraction of the government regulation and interference into every aspect of society than we do now.

    The problem is not how much the rich earns or how much the rich pay in taxes. The problem is in government meddling, manipulation, and spending that has generated runaway inflation and stifled American entreprenourship.

    (The figures here only go through 2012 as no hard verifiable numbers are going to be available for 2013 until after the election.)

    In 1950, the United States was #1 in GDP per capita.

    In 2012, the United States is #13 in GDP per capita.

    In 1950, redistribution of wealth was considered to be something that "the communists" did.

    In 2012, the U.S. government redistributes more wealth than anyone else in the world.

    In 1950, each retiree's Social Security benefit was paid for by 16 workers.

    In 2012, each retiree's Social Security benefit is paid for by approximately 3.3 workers.

    In 1950, the United States loaned more money to the rest of the world than anybody else.

    In 2012, the United States owes more money to the rest of the world than anybody else.

    In 1950, the U.S. national debt was about 257 billion dollars.

    In 2012, the U.S. national debt is 59 times larger. It is currently sitting at a grand total of $15,435,694,556,033.29 (and is increasing at $1 trillion plus each year since). Surely our children and our grandchildren will thank us for that.

    The latest I've read is that the wealth of the middle class is shrinking. But it is not because somebody else is wealthier. It is because they are having to spend so much more than they earn just to maintain the status quo. And each deficit they run cuts into their aggregate wealth.

    That phenomenon has nothing to do with the rich. It has everything to do with increasing government meddling, regulation, and punishment of success that has pushed inflationary trends into the stratosphere.
    Comparing the inflated cost of living today from 1950 to 2014: How declining purchasing power has hurt the middle class since 1950.

    If the trend continues:

    We increasingly become timid citizens who give up all our liberties for the government to assign back to us and dictate what kind of society we will be.

    What should be done?


    A low flat tax plus spending limits with teeth in them would go a long way to reversing an every more bloated monstrosity of a government that mows down everything in its past. It would free up those who drive an expanding economy so that they could calculate their risks and move ahead without fear. And it would take away government's ability to irresponsibly spend money we do not have and therefore would provide incentive for government to govern competently and effectively for all.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

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    Re: Income Inequality

    Quote Originally Posted by GBFAN View Post
    Are you telling me that the poor today face a disproportionate amount of hurdles, when compared to the poor of yesterday?
    Yes definitely. Wages for the bottom 90% have stagnated for almost 2 decades in a row now. All- literally all- of the GDP growth in the past 15 years has gone to the top 1%. That wasn't the case at all up until the 1960s or so. In those days, everybody was able to participate in the economic success of the country.

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