Income Inequality in America (2019)

Income Inequality in America (2019) here:

 

What a ridiculous load of garbage. Their "10 factors impacting US income inequality" do not even mention the principal cause of the extreme and growing inequalities of wealth, income and condition in capitalist countries: privilege -- legal entitlements to benefit from the abrogation of others' rights without making just compensation.

 

For example? What "Legal Entitlements" other than America's dysfunctional Upper-income Taxation levels ... ?

 

Wanna know a secret? How much money someone else makes doesn't hurt you in any way at all. If you want to make more money then do it.

 

NOT EQUALLY BUT EQUITABLY

If it was properly taxed, it would have. But at the low level of income of the upper-income earner is a literal taxable-income give-away.

Which is how your kind of silly-thinking is the main-reason why 14% of Americans still live below the Poverty Threshold ($25K per year for a family of four). Had upper-incomes not been a TAXATION GIVE-AWAY to the already-rich, the money could have been employed to better the lives of more "other Americans". (Like a far-less-costly National Health Service or Free Post-secondary Schooling that would lead to a better-paying job.)

Having said that, permit me to surprise you on another rule. Which goes like this: An unemployment rate of less than 4% (as actual) is NOT AND SHOULD NOT BE the primary criteria applied to any economic-policy. Whyzzat?

Because that employment rate does no indicate that people are earning a decent-living. It simply indicates they are employed. How well or not is a matter of Income Disparity - that is, are the classes of workers equitably remunerated? (Not equally but equitably!)

Here below a sad-tale from The Balance: Income Inequality Facts

Since 2008, only one factor has changed. Donald Dork reduced further Upper-income Taxation - and the money has poured into his campaign reelection fund.

So if you want to see what a "winner" looks like, don't go looking for one in a mirror ... !

 

The major ones are land titles, bank licenses, IP monopolies, broadcast spectrum allocations and oil/mineral rights. Together they absorb ~1/2 of GDP.

 

Raising taxes hurts the poor the most, no matter who you raise the taxes on. Of course the wealthy can afford to pay more, but what's the cost? Without capital investment, no new jobs are created and worker productivity stalls, causing wage deflation. Without the extra production, prices rise, again, hurting the poor the most. Also, if the money belongs to individual wealthy person, how is it a "give-away" to not tax it? Isn't it wrong to take something that doesn't belong to you?

 

Nonsense. Increased taxation of land rents benefits everyone but the biggest and least productive landowners.

Garbage. The wealthy don't invest in higher productivity, they just bid up the prices of each other's rent collection privileges. And increased productivity doesn't increase wages, it only increases land rents, as the Law of Rent shows.

Have you ever actually lived in an advanced democracy with high and progressive income taxes?

They almost certainly got it by dint of privilege, not production. Land value, for example, is nothing but the market's estimate of the net future subsidy to the landowner: i.e., how much more he will take from the community by owning the land than he will ever repay in taxes on it.

Tell it to the original private appropriators of land.

 

Taxation hurts everyone in society, especially the poor. When you ignore that truth you are only causing more suffering. Wages for the poor can only rise if their productivity rises. When capitalists invest in productivity-increasing assets like factories, machines, tools, computers etc. their workers become more productive and only then can their wages increase. By robbing the wealthy of their capital you rob the poor of the only method that has ever worked to increase their standard of living.

 

Crassly wrong thinking - raising taxes on the elite rich will put more money into the Federal coffer! And if WE EVER LEARN how to avoid Federal debt-formation - because the DoD spends more than half of all allocated Federal-funds - then JUST MAYBE we can get America back onto a solid-footing economy-wise.

See the history of National Debt Spending here:

Note to where that yellow line is trending!

The country needs a total renovation in the method by which it spends its Federal funding. We've all seen how, with blind-eyes, the present system continually builds Uncle Sam's debt (as per the above infographic) and we are left to hope the world will keep buying that debt?

When - if ever - push comes to shove, the world will start avidly selling its T-Notes and that sweet-dream of forever Debt-Spending will end drastically!

Uncle Sam's economy will take a major nose-dive ... !

 

Raising taxes just gives more money to the crooks in the government. They will just give subsidies and contracts to their rich friends. Taxation only helps the rich and hurts the poor.

 

Then why are the big-government, high-tax societies of Northern Europe the happiest on earth, with the most comfortable and least desperate populations of the "poor," hmmmmmmmmmmmmmmmmm?

Your claim is not the truth. It is objectively false. O B J E C T I V E L Y.

GARBAGE. After the Black Death, wages skyrocketed all over Europe despite no change in productivity, because the Law of Rent governs wages, not productivity.

Flat wrong. Investment in producer goods only increases land rents, not wages. See "Progress and Poverty" by Henry George.

Garbage. Your ignorance of economics that has been known for over 200 years is pathetic.

 

What an absurd and puerile load of "Meeza hatesa gubmint!" nonsense.

 

I accept your concession.

 

It's one thing to give the enormous tax breaks to the rich, but quite another to tell (and convince) your followers that you are all about 'the little guy'.

"In 2018, for the first time in the last hundred years, the top 400 richest Americans have paid lower tax rates than the working class," they write. "This looks like the tax system of a plutocracy."


https://www.cbsnews.com/news/americ...IY-iYgrIcPJenm58oIfpSYagRs_1j14lkmeL5VrVrrT-A

 

It was your absurd, fact-free nonsense that was the concession, son.

 

I win yet again. 2-0

 

Hope that makes-ya feel better.

I, personally, could not give a damn. Keep counting, it seems to make-your-day ...

 

When you resort to insults and nonsense attacks instead of arguments, you lose. It means you agree with me but are upset about it, so you lash out. Your anger = my victory.

3-0

 

<yawn> As they say in Japan, "It's mirror time!"

You are doing a very good job of making yourself look pathetic.

 

BlahBlahBlah + M r a ...

 

Since nobody has a right to property owned by someone else, it’s not relevant.

 

Wages do not rise based on productivity. Productivity has risen exponentially faster in the past 40 years while wages have remained flat. Wages rise when there is an increase in demand for their labor.

 

Poor people are poor because rich people are rich for the same reason that skinny people are skinny because fat people are fat.