View Poll Results: How much income inequality is TOO much income inequality?

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  • I am left-leaning, and there is too much income inequality right now.

    126 40.65%
  • I am left-leaning, and the current level is acceptable, but should not be higher

    1 0.32%
  • I am left-leaning, and I don't think there should be a limit on the level of income inequality.

    2 0.65%
  • I am a centrist, and there is too much income inequality right now.

    93 30.00%
  • I am a centrist, and the current level is acceptable, but should not be higher

    5 1.61%
  • I am a centrist, and I don't think there should be a limit on the level of income inequality.

    2 0.65%
  • I am right-leaning, and there is too much income inequality right now.

    66 21.29%
  • I am right-leaning, and the current level is acceptable, but should not be higher

    9 2.90%
  • I am right-leaning, and I don't think there should be a limit on the level of income inequality.

    6 1.94%
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Thread: So How Much Income Inequality is TOO Much Income Inequality?

  1. #21
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    You can not have a genuine representational (or any other type) democracy with extreme concentration of wealth. Wealth is political power. Anything resembling genuine free enterprise can not survive with extreme concnetration of wealth.* Without democracy and protection of rights you are not free.

    *Example: You want to open a store that competes with a chain store owned by an extremely wealthy person. That person and/or the corporation can use campaign donations and other methods of influence using money to get the government to prohibit that store from opening.

  2. #22
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by joG View Post
    It would mean explaining the correlation and why income inequality is not really a problem, but a necessary feature of healthy economies.
    Of course income/wealth inequality is necessary and healthy. It's pure and simple incentive, and a core right to boot.

    However, joG, you fail to mention that there are levels of income/wealth inequality. If there's a Gini scale ( 0 - 100 from perfect equality to perfect inequality) a 10 is not the same as a 20, 30, 40 ... 90, 100.

    Quote Originally Posted by DifferentDrummr View Post
    Are you trying to claim that there's no positive correlation between one and the other?
    Obviously there is.
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  3. #23
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    So How Much Income Inequality is TOO Much Income Inequality?
    there is a level at which it causes the economy to become unstable.

    So How Much Income Inequality is TOO Much Income Inequality?-us_bnkfail1211_sc-jpg

    the precise location of that specific point is up for debate, and is probably somewhat fluid.

  4. #24
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by brothern View Post
    Of course income/wealth inequality is necessary and healthy. It's pure and simple incentive, and a core right to boot.

    However, joG, you fail to mention that there are levels of income/wealth inequality. If there's a Gini scale ( 0 - 100 from perfect equality to perfect inequality) a 10 is not the same as a 20, 30, 40 ... 90, 100.


    Obviously there is.
    True. It is also true that the gini on its own does not say very much about the efficiency of the society or its economy.

  5. #25
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by Glen Contrarian View Post
    The news came out today that OXFAM found that by 2016, the richest 1% will control half of all the world's wealth.

    That begs the question, then - what level of income inequality do you believe should be the upper limit, if there should be any limit at all? And if there should be a limit, how would that be achieved, since this is obviously something that can't be mandated by governments?

    wealth and income are two very different things

    which one are we discussing?

    income is based on skills and most people progress through the income levels until they hit the limit for their particular field

    the worst plumber will make x, and the best will make y......and where you live, and the skillset you have in the field will determine how much you get

    wealth is a whole different ballgame......too many people got burned back in 07-08 who were middle class with 401k's....and as the market tanked they got out

    anyone who stayed in has not only recouped what was lost, but added considerably more

    that is why the RICH have gotten richer.....they never sold......they continued to buy......and the prices rebounded big time

    so they will control more and more of the wealth....on paper, mostly in the form of stocks and bonds

    mom and pop, if they stayed in the market have that, and their house which has also rebounded quite nicely since the drop off the cliff

    so, what are we discussing.......wealth or income?
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  6. #26
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by Glen Contrarian View Post
    The news came out today that OXFAM found that by 2016, the richest 1% will control half of all the world's wealth.

    That begs the question, then - what level of income inequality do you believe should be the upper limit, if there should be any limit at all? And if there should be a limit, how would that be achieved, since this is obviously something that can't be mandated by governments?
    You are misunderstanding the issue: it;s not about how much Joey makes over Johnny. It's about the earning power of more and more of America's income having been shifted toward the 1% who make nearly 60% of all of the income this country produces and the remaining 40% being divided between the upper middle class all the way down to those who are in poverty. The rest of of have no power to earn as we once did.
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  7. #27
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by brothern View Post
    LOL. The last thread I was debating the conservative posters, and like them, both of you failed to actually comment on what I said.
    That's because most of it was yet another libertarian polemic against taxes. With a clear implication that free markets should not be regulated by governments in any way.

    I'm a consequentialist libertarian. Meaning that I'm up and all for a free market economy where prices are set by the forces of supply and demand, with diverse highly competitive markets in which the means of production are primarily privately owned and operated as for-profit; BUT at the same time I don't believe that people/organizations are completely rational actors, or that market failures are made up.
    No free market economy of the type you described is sustainable if the second part is true.

    Which all of that doesn't have much to do with the topic at hand.
    Yes. Exactly.

    And @DifferentDrummr - Pareto's principle is an observation. It's not guidance on what is efficient or optimal.
    Then perhaps you might furnish some useful information for a change, instead of avoiding the issue by calling it "debatable." Why don't you tell us what percentages most economists today consider efficient and optimal?
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  8. #28
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    no clue how to answer the question...

    too much?.. too little?.. just right?.... who knows.

  9. #29
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by DifferentDrummr View Post
    That's because most of it was yet another libertarian polemic against taxes. With a clear implication that free markets should not be regulated by governments in any way.
    You must have a hell of lot of trouble with basic reading comprehension, because I clearly stated that our tax brackets unfairly favor the wealthy, and that it's bad that the estate tax is so low.

    Now are you actually going to read what I've posted, or should we just end this conversation now?

    Quote Originally Posted by DifferentDrummr View Post
    No free market economy of the type you described is sustainable if the second part is true. Yes. Exactly.
    Sustainability is not the same thing as efficiency, now is it?

    Quote Originally Posted by DifferentDrummr View Post
    Then perhaps you might furnish some useful information for a change, instead of avoiding the issue by calling it "debatable." Why don't you tell us what percentages most economists today consider efficient and optimal?
    ... because it is debatable, which is why economists disagree as to what the most efficient/optimal level is. Economists don't even agree on what the most efficient/optimal level of GDP growth is and that's probably the most fundamental measurement of an economy.
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  10. #30
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    Re: So How Much Income Inequality is TOO Much Income Inequality?

    Quote Originally Posted by Paschendale View Post
    It's that kind of thinking that gives everyone else thoughts of endorsing the Guillotine Party.
    I truly want the far lefties to rise up as they keep threatening to do. I really do.



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