View Poll Results: Would you rather:

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  • Increase all wages though increase income disparity

    14 56.00%
  • Keep wages steady and decrease income disparity

    11 44.00%
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Thread: How do you feel about income?

  1. #41
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    Re: How do you feel about income?

    Quote Originally Posted by UtahBill View Post
    Economically speaking, it is better to have a thousand millionaires than one billionaire....
    It's better to have people with an incentive to work hard and innovate.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  2. #42
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    Re: How do you feel about income?

    Quote Originally Posted by Helte/2Skelter View Post
    It is quite essential to this situation. Income is meaningless when you do not consider its value, i.e. prices.
    And real income still goes up.
    "Doubleplusungood"

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  3. #43
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    Re: How do you feel about income?

    Quote Originally Posted by DrunkenAsparagus View Post
    And real income still goes up.
    What does that ultimately mean for buying power? If every child in a class is given an equal amount of free points would it change the result of the curve, i.e. is anyone really better off?
    |ψ〉

  4. #44
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    Re: How do you feel about income?

    Quote Originally Posted by UtahBill View Post
    The money is better for the economy if it is spent on products that are made by factories that hire employees

    And yet unless someone, or some group (ie investors with surplus money) had the capital to invest in the first place, that factory would not exist and would not be producing those goods.

    Having 1,000 uber-rich fat-cats who own almost everything, while the teeming millions live in abject poverty, is not good: it is commonly the condition of many 3rd-world countries and dictatorships.

    Having ~1000 uber-rich capitalists, hundreds of thousands of millionaires, millions of middle-class small-biz owners or high-demand professionals, and tens of millions of well-paid specialists makes for a more well-rounded economy, and that is what the US has. (numbers highly approximate btw.) In this situation, a rising tide really does lift all boats. If companies and capitalists have more money, they invest more, expand businesses, and that means more jobs, more promotions, more raises for most people.

    I'm not jealous of Bill Gates. He could buy and sell a million of me, but also he has worries I don't have.

    There's a local tycoon named Roger Milliken, who owns most of the textile biz in upstate SC. I've met the man and know a bit about him. He's worth over 400 million the last time I checked. He works like a dog, 60-80 hours a week, keeping his businesses going. His cellphone rings day and night, he's chained to the thing. His social events are really business meetings with cocktails and music. Someone in his organization told me he hadn't taken a vacation in years. He's old, and he looks it; running that corporation has taken such a toll on him I'm amazed he's still alive.

    I wouldn't want to be him, but if it wasn't for someone like him those textile plants would have gone to South America or Asia twenty years ago and several thousand people would have lost jobs locally. Well-paying jobs.

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  5. #45
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    Re: How do you feel about income?

    Quote Originally Posted by Helte/2Skelter View Post
    What does that ultimately mean for buying power? If every child in a class is given an equal amount of free points would it change the result of the curve, i.e. is anyone really better off?
    Ding ding ding! Give that person a gold star.

    If you gave every American a million dollars (approximate cost 300 Trillion total ), then prices would of necessity soar, because there would be more money than goods/services. A million dollars would quickly become the equivelent to 30,000 dollars in actual buying power... net result nada.

    Fiddling While Rome Burns
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  6. #46
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    Re: How do you feel about income?

    Quote Originally Posted by Goshin View Post
    Ding ding ding! Give that person a gold star.

    If you gave every American a million dollars (approximate cost 300 Trillion total ), then prices would of necessity soar, because there would be more money than goods/services. A million dollars would quickly become the equivelent to 30,000 dollars in actual buying power... net result nada.
    Except that's not what I'm asking in this question. I'm really asking whether you want progress or equality.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
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  7. #47
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    Re: How do you feel about income?

    Quote Originally Posted by phattonez View Post
    Except that's not what I'm asking in this question. I'm really asking whether you want progress or equality.
    Progress, always progress. But sometimes progress has to slow down in the name of stability.

    Equality, I couldn't care less about.

  8. #48
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    Re: How do you feel about income?

    Quote Originally Posted by phattonez View Post
    Except that's not what I'm asking in this question. I'm really asking whether you want progress or equality.

    Progress is more important.

    A vast inequity such as you see in 3rd-world countries (a few very rich, millions of desperately poor) would not be good for the economy or the country as a whole, which would be my only concern about equality.

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  9. #49
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    Re: How do you feel about income?

    Quote Originally Posted by Arch Enemy View Post
    I don't like income tax.

    I don't see how the United States has any legitimacy to take money from the "fruits of my labor". There's another term for taking a percentage of someone else's toil -- extortion?
    Income tax was created to pay for World War I. It should have died out after that but some greedy scumbags made sure it did not.

    Income tax needs to be abolished.

  10. #50
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    Re: How do you feel about income?

    Buying power still goes up as time goes by. In 1900. The dollar was worhtt 20xs what it does today. However the average income was less than $500 or about $10,000 today. The average peson's paycheck couldn't carry them as far as today. Printing money won't make anyone richer, but creating new wealth does

    Average Income in the United States Visualizing Economics
    "Doubleplusungood"

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