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. #721
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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
    The people have more government (on every level) and services than they can afford to maintain. The money to pay bureaucracies, their expenses, their benefits, and so on, will naturally mean less money for the middle class and that they will be the first to slide down the economic scale.

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    Re: Income Inequality

    Quote Originally Posted by TurtleDude View Post
    true, I see people who fail personal economics 101 constantly telling those who don't suck on the public teat that these failures are more knowledgeable about economics

    the first sign that you actually understand economics is NOT being dependent on the wealth of others
    Funny thing, last night I ran into this Swedish girl who is currently completing her Masters in Macro Economics from Stanford emotionally "educating" her fellow exchange students that wealth redistribution is justified because it will create a more competitive environment. Apparently, the most qualified applicants for many competitive high paying jobs happen to slip through the cracks. Therefore, welfare recipients (and all others that share this enlightened view) deserve more from those greedy 1%ers until the Federal Government redistributes the shared wealth we all deserve.

    Only then will the United States be elevated to the point of a highly civilized modern society like Sweden, where paying an endowment to attend Stanford is just an identifier of equality.

    The irony was so rich, truly illuminating.

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    Re: Income Inequality

    Quote Originally Posted by Gimmesometruth View Post
    I know..like FOOD. It is a terrible thing that they spend such a large % of their incomes on non-investments......they are bad people.

    Sure, that has obviously been the case, they have been investing in job generating schemes that have raised incomes across the board.....

    Oh wait...


    Sigh...

    Do a bit of research on how generous your government is to those who are in such financial chaos, they "have" no resources to even obtain a free government sponsored AA degree from their local CC. Even the bus fair is free if you can't afford it.

    In most states your friendly government provides more than you would receive working a regular minimum wage job. In Washington D.C. the annual financial support Uncle Sam provides those allergic to work exceeds $50,000. I'm not as well versed in Econ as you but that seems like more than enough to just buy food.

    Oh and that chart you posted just proves why the 1% should be taxed even less. They seem to be making beneficial financial decisions from that chart alone. Or maybe the majority of these 1%ers are stuck in a similar predicament as I am, since it's generally more cost efficient to invest abroad due to Uncle Sam. I have fairly a bit unclaimed income stuck in a foreign account, since this is your area of expertise how exactly can I transfer this money to my local checkings?
    Last edited by Objective; 09-29-14 at 03:02 PM.

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    Re: Income Inequality

    Quote Originally Posted by Gimmesometruth View Post
    Lets see.....welfare is the redistribution of dollars via taxation....to those who have few dollars....who then spend those dollars......because they have a higher propensity to spend...

    ...but somehow this takes "resources" (dollars) away from "transactions" (spending)?
    So if only the Egyptians, Assyrians, Babylonians, Romans, and Soviets spent more money the economy would have prospered? No, prosperity comes from capital accumulation that is valued. You know its valued when people voluntarily purchase products. Two adults having sex is morally justified, but rape is not; because one party is forced into the transaction.

    I know how to double spending, and GDP. Make all one dollar bills into two dollar bills, all five dollar bills into 10 dollar bills, all 10 dollar bills into 20 dollar bills.... you get the point. Money is the medium of exchange to acquire goods, not the goods themselves. If we dropped 500 trillion dollars in Africa today, them spending those dollars would not solve their starvation.

    "But if we don't have government arrange marriages, woman won't get married!" No, they won't marry the person the society forced them to, they would have voluntarily sought someone they voluntarily wanted to spend their lives with.

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    Re: Income Inequality

    The simple fact you equate income to wealth tells us all what we need to know about you: ignorance is truly bliss.

    You advocate killing those getting wealthy (high income) which does nothing but punish successful. I, the truly wealthy with practically no income, thank you for being stupid.


    Quote Originally Posted by Gimmesometruth View Post
    Um, the Atlantic got the data and graph from the NYT article, I linked to the NYT article....and it is from the PSE, Piketty. You are not following along.
    I wished I created it, but it is from Saez's data:
    Economic Freedom For All | Economics One
    Where do you think wealth comes from but income?Again, it fits Piketty/Saez data points....you know, the academic data you squealed for.

    I did not say that, I have said over and over, even in this thread, that the lowest quintile has lost wealth and has seen lowered real wages since 1980.Me Tarzan, you Jane.

  6. #726
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    Re: Income Inequality

    Quote Originally Posted by Objective View Post
    Funny thing, last night I ran into this Swedish girl who is currently completing her Masters in Macro Economics from Stanford emotionally "educating" her fellow exchange students that wealth redistribution is justified because it will create a more competitive environment. Apparently, the most qualified applicants for many competitive high paying jobs happen to slip through the cracks. Therefore, welfare recipients (and all others that share this enlightened view) deserve more from those greedy 1%ers until the Federal Government redistributes the shared wealth we all deserve.

    Only then will the United States be elevated to the point of a highly civilized modern society like Sweden, where paying an endowment to attend Stanford is just an identifier of equality.

    The irony was so rich, truly illuminating.
    What does her being from Sweden have to do with anything? If you're against wealth redistribution that's fine, but hopefully your argument had some merits on its own beyond trying to disparage someone for their nationality.

    I'm going to guess that while she is attending Stanford, you are not.

  7. #727
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    Re: Income Inequality

    Quote Originally Posted by Objective View Post
    Sigh...

    Do a bit of research on how generous your government is to those who are in such financial chaos, they "have" no resources to even obtain a free government sponsored AA degree from their local CC. Even the bus fair is free if you can't afford it.
    "They have no resources"?!?

    English much?

    In most states your friendly government provides more than you would receive working a regular minimum wage job. In Washington D.C. the annual financial support Uncle Sam provides those allergic to work exceeds $50,000. I'm not as well versed in Econ as you but that seems like more than enough to just buy food.
    Obviously you are not versed in economics...or benefits....or even citing references to back your claims.

    Oh and that chart you posted just proves why the 1% should be taxed even less. They seem to be making beneficial financial decisions from that chart alone.
    They seem to be....based on what?

    Or maybe the majority of these 1%ers are stuck in a similar predicament as I am, since it's generally more cost efficient to invest abroad due to Uncle Sam.
    lets compare the 0.1% to say, the S&P:


    The Rise (and Rise and Rise) of the 0.01 Percent in America - The Atlantic

    I have fairly a bit unclaimed income stuck in a foreign account, since this is your area of expertise how exactly can I transfer this money to my local checkings?
    When did I say I was an expert on repatriating cash?

    Perhaps you could invest in a dictionary.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: Income Inequality

    Quote Originally Posted by Peter Grimm View Post
    What does her being from Sweden have to do with anything? If you're against wealth redistribution that's fine, but hopefully your argument had some merits on its own beyond trying to disparage someone for their nationality.

    I'm going to guess that while she is attending Stanford, you are not.
    Apparently you don't know how tiresome Europeans can be while lecturing Americans. Sweden is turning into a hellhole while she educates Americans on Macro Economics. It is rich with irony, as is your response..

  9. #729
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    Re: Income Inequality

    Quote Originally Posted by CalGun View Post
    The simple fact you equate income to wealth tells us all what we need to know about you: ignorance is truly bliss.
    My asking you "where do you think wealth comes from?" is equating income to wealth?

    Let me help your ignorance, wealth is the accumulation of income.

    You advocate killing those getting wealthy (high income) which does nothing but punish successful. I, the truly wealthy with practically no income, thank you for being stupid.
    I "advocated" (for) killing the wealthy? When I warned that high levels of inequality leads to revolution...and I wanted less inequality and greater social stability?

    Is reading really that tough?

    Is it even tougher to quote what I actually said?

    FFS, your fraudulent posting is so sad.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  10. #730
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    Re: Income Inequality

    Quote Originally Posted by Keithknight13 View Post
    So if only the Egyptians, Assyrians, Babylonians, Romans, and Soviets spent more money the economy would have prospered?
    That depends on what they would have purchased...and the amount...but we are here now, in this time, with this economy and neither you nor I have any understanding of those economies.

    The absurdity.
    No, prosperity comes from capital accumulation that is valued. You know its valued when people voluntarily purchase products. Two adults having sex is morally justified, but rape is not; because one party is forced into the transaction.
    LOL....are you seriously going to make an analogy between rape and market exchanges?

    Seriously?

    I know how to double spending, and GDP. Make all one dollar bills into two dollar bills, all five dollar bills into 10 dollar bills, all 10 dollar bills into 20 dollar bills.... you get the point. Money is the medium of exchange to acquire goods, not the goods themselves. If we dropped 500 trillion dollars in Africa today, them spending those dollars would not solve their starvation.
    Well that would be @ $500K for every African....but this topic is about (wage gain) inequality in the US, yet you want to talk about "Soviets and Africans" and "rape".

    Goofy, but I'll keep reading......it is entertaining.

    "But if we don't have government arrange marriages, woman won't get married!"
    I suppose this is an analogy to something.....but what, I have no idea.
    No, they won't marry the person the society forced them to, they would have voluntarily sought someone they voluntarily wanted to spend their lives with.
    A whole lot of voluntary things going on there, what it means is mystery to me.

    All I pointed out was that spending will still happen when dollars are redistributed to those without dollars from those with dollars. It doesn't cause inflation, it causes those monies to be spent at a greater rate.....and the main point is that since (tax) policy and (union killing) policy and (lack of minimum wage increases) policy and (globalization) policy has caused a lack of wage gains for a vast segment of the population, the only avenue to cause those dollars to get to those without....is to tax those high incomes.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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