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

Voters
92. You may not vote on this poll
  • Do not intervene

    47 51.09%
  • Yes, do intervene

    45 48.91%
Page 92 of 101 FirstFirst ... 42829091929394 ... LastLast
Results 911 to 920 of 1006

Thread: Income Inequality

  1. #911
    Sage
    Gimmesometruth's Avatar
    Join Date
    Feb 2012
    Location
    US Southwest
    Last Seen
    09-13-17 @ 10:22 AM
    Gender
    Lean
    Liberal
    Posts
    22,405

    Re: Income Inequality

    Quote Originally Posted by GBFAN View Post
    James Pethokoukis |

    It’s also worth noting that wealth inequality — as least measured by Thomas Piketty — was about the same in 1980 as it was in 1960 — and then it took off.
    I would say it is more of a launch:

    Income Inequality-1-iequality-jpg
    Introduction


    But even as wealth inequality has risen, middle-class incomes have continued to rise, by some 40% in real terms.
    This is an absolute flat out lie, no matter how you manipulate or define "middle class" stats, income for individuals or households in the middle class did not "rise in real terms by 40%", from 1980 until now, or even going back to 1973.

    Income Inequality-changes-wages-73-12-jpg
    Introduction


    Even Saez/Piketty data show this is false when it includes all of the 90% going back to 1968:



    Jeopardy champs who studied history shouldn't dabble in economics blogging.

    What's worse is depending on them for inequality argument.
    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.

  2. #912
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 07:47 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,995
    Blog Entries
    1

    Re: Income Inequality

    Quote Originally Posted by tuhaybey View Post
    No, you seem to be forgetting supply and demand... What that graph is about is that prices should tend towards the point where the supply and demand lines cross. That is the point where there is zero marginal profit. The price is set to exactly the same as the cost of producing the goods... I explained that in the post you replied to, so not sure what you mean when you say that I'm forgetting it.

    This isn't some liberal or controversial thing I'm saying. This is the basis of capitalist economics. Every economist in the world would say the same thing.
    Profit, what YOU call waste, is the motive for going int o business in the first place.

    You're suggestion that our businesses should generate as little waste "profit" as possible by keeping prices low or employees paid more is, well....in a word, crazy.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  3. #913
    Educator
    Join Date
    Sep 2014
    Last Seen
    07-18-15 @ 02:26 PM
    Gender
    Lean
    Liberal
    Posts
    731

    Re: Income Inequality

    Quote Originally Posted by Conservative65 View Post
    You're not interested in what's important. You're just like the whiners that want a wage for doing something one step above what a monkey could be trained to do. You're not interested because what I've done destroys your ability to whine and gripe about uneducated freeloaders getting something handed to them. Tell you what. When they do what I've done they can earn what I've earned. Until then, they can either rely on good intentioned do nothing bleeding hearts like you or do without.
    Anyways, do you have some kind of argument for why we shouldn't try to fix the problem with people being paid less than they're worth? Or what? It seems like you're just interested in some sort of weird allocation of blame thing or something, but I don't see why whatever all that is about would mean we shouldn't fix the economic issue, would it?

  4. #914
    Educator
    Join Date
    Sep 2014
    Last Seen
    07-18-15 @ 02:26 PM
    Gender
    Lean
    Liberal
    Posts
    731

    Re: Income Inequality

    Quote Originally Posted by KevinKohler View Post
    Profit, what YOU call waste, is the motive for going int o business in the first place.

    You're suggestion that our businesses should generate as little waste "profit" as possible by keeping prices low or employees paid more is, well....in a word, crazy.
    That's the whole genius of capitalism. The more aggressively they chase the profits, the less profit there is. You are selling widgets at a profit of $10 each, so then I decide I want some of that action, so I start selling them for a $9 profit each. Then you want more profits, so you drop your price to $8 above cost and so on until we're just $0.01 above cost. That's the point where society is getting the most widget at the best price. That's the whole goal of capitalism. That's the core idea- it is designed to be a way to get the most widgets at the best price, not a way for the owners to extract money from the masses.

  5. #915
    Sage

    Join Date
    Jul 2013
    Last Seen
    Yesterday @ 04:56 PM
    Lean
    Independent
    Posts
    43,415

    Re: Income Inequality

    Quote Originally Posted by tuhaybey View Post
    Anyways, do you have some kind of argument for why we shouldn't try to fix the problem with people being paid less than they're worth? Or what? It seems like you're just interested in some sort of weird allocation of blame thing or something, but I don't see why whatever all that is about would mean we shouldn't fix the economic issue, would it?
    Just briefly. What is less than someone is worth?

  6. #916
    Educator
    Join Date
    Sep 2014
    Last Seen
    07-18-15 @ 02:26 PM
    Gender
    Lean
    Liberal
    Posts
    731

    Re: Income Inequality

    Quote Originally Posted by Born Free View Post
    I don't know what planet you live on but taking profit to buy that new million dollar yacht is not waste in the mind of the person taking the profit. In fact not only does taking profit reward the owners so they can buy that yacht, but it also creates jobs for yacht builders.

    Then you say by taking profit is a business failing to perform well. What a crock of BS. A business makes a profit and it expands and it continues to expand as a result of profit. And what does that do, it creates jobs. Of course a liberal could care less about jobs. Liberals have never been about creating jobs, they want to punish success and reward failure. And taking a profit to buy that yacht is evil, but the real evil is you liberals want all the yacht builders to go out of business. Damn those evil yacht builders making yachts for those evil profit takers.
    It isn't that profit in and of itself is bad per se, what is bad is charging more than the economically optimal price. That point where those S and D lines cross- that's the best place for the price to be economically. That's where the most widgets are produced the most efficiently. If you raise the price above that point in order to get more profit, then less widgets are sold and they are sold at a higher, less efficient, price.

    Again, this isn't some crazy theory, this is the most fundamental basis of capitalism. Every conservative economist on the world agrees with this. Every economics 101 textbook in the country goes over this in the first chapter. In fact, it is pretty much the one and only economic concept that pretty much everybody knows- supply and demand. That's what the supply and demand graph is about.

  7. #917
    Educator
    Join Date
    Sep 2014
    Last Seen
    07-18-15 @ 02:26 PM
    Gender
    Lean
    Liberal
    Posts
    731

    Re: Income Inequality

    Quote Originally Posted by joG View Post
    Just briefly. What is less than someone is worth?
    A worker is worth their productivity. However much they increase the revenues of their employer, minus all non-labor expenses, that is how much they should be compensated if the market is functioning properly.

  8. #918
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 07:47 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,995
    Blog Entries
    1

    Re: Income Inequality

    Quote Originally Posted by tuhaybey View Post
    That's the whole genius of capitalism. The more aggressively they chase the profits, the less profit there is. You are selling widgets at a profit of $10 each, so then I decide I want some of that action, so I start selling them for a $9 profit each. Then you want more profits, so you drop your price to $8 above cost and so on until we're just $0.01 above cost. That's the point where society is getting the most widget at the best price. That's the whole goal of capitalism. That's the core idea- it is designed to be a way to get the most widgets at the best price, not a way for the owners to extract money from the masses.
    The problem is, there is another angel to capitalism. That is to say, in every contest, there are winners, and there are losers. Once the price war you have mentioned ends, likely with the demise of the weaker of the two companies, the one left standing owns the market.

    Now, that in of itself isn't so bad, but we have a lot of market entry barriers in this country, in the name of oversight and safety. And those are good things, but they result in it being quite difficult to move in and set up shop, in order to ensure competition. Without competition, there is no capitalism, only corporatism. See the US.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  9. #919
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 07:47 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,995
    Blog Entries
    1

    Re: Income Inequality

    Quote Originally Posted by joG View Post
    Just briefly. What is less than someone is worth?
    Paying them less than their level of productivity. In order for there to be profits, employees must, by definition, be paid less than the value they bring to the endeavor.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  10. #920
    Sage
    KevinKohler's Avatar
    Join Date
    Oct 2011
    Location
    CT
    Last Seen
    Yesterday @ 07:47 PM
    Gender
    Lean
    Undisclosed
    Posts
    15,995
    Blog Entries
    1

    Re: Income Inequality

    tuhaybey;1063833344]It isn't that profit in and of itself is bad per se, what is bad is charging more than the economically optimal price. That point where those S and D lines cross- that's the best place for the price to be economically. That's where the most widgets are produced the most efficiently. If you raise the price above that point in order to get more profit, then less widgets are sold and they are sold at a higher, less efficient, price.
    Only fewer widgets are sold if there isn't constant demand. Look at gasoline. The US government has to DICTATE what gasoline is sold for, because ultimately, not buying it isn't an option for a great many people.

    Again, this isn't some crazy theory, this is the most fundamental basis of capitalism. Every conservative economist on the world agrees with this. Every economics 101 textbook in the country goes over this in the first chapter. In fact, it is pretty much the one and only economic concept that pretty much everybody knows- supply and demand. That's what the supply and demand graph is about.
    Yes, but what I think you are missing is that an increase in supply does NOT always mean a decrease in demand. In the 70's, chevy produced more corvettes than they ever had before, and many forecasted that this would be a mistake, it would mean cars sitting on lots, it would be dropped prices for chevrolet's flagship car. But what happened? They sold more C3 corvettes in the late 70s, DESPITE their being seen today as the WORST corvette ever produced, than ever before, and ever SINCE.

    An increase in supply =/= a decrease in demand. So long as demand is strong, you can charge any price you want, regardless of cost to build, regardless of competition, etc.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

Page 92 of 101 FirstFirst ... 42829091929394 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •