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re: Is one major cause of wealth disparity a poor rate of return on social security?
Posted on 5/29/14 at 2:53 pm to WildTchoupitoulas
Posted on 5/29/14 at 2:53 pm to WildTchoupitoulas
quote:Then its a silly argument. Disparity isn't a measure of increasing/declining wealth, nor the ability to attain wealth.
That's not the argument. The argument is increasing disparity.
The clear implication of the OP is that those of lower and middle classes would have the opportunity to be better off without SS.
Seemingly, giving the "lower class" more opportunity to earn more wealth is a better "solution" to disparity than making "the rich" poorer.
quote:The rich have a far greater capacity to generate wealth. Of course they will get richer, faster. It's inevitable when the money supply is constantly increasing.
The point is that the disparity, that is the increase in wealth for the wealthy and the lower classes comparatively.
So what?
It doesn't mean the "lower classes" are poorer. Nor does it mean they are poorer than they would be, if the rich were made poorer.
quote:I agree. When people make more money than others - the disparity increases. Seems like a trivial observation, more than a causal relationship.
I still say that the working class's income hasn't increased at the same rate as the wealthier classes (whether it's stagnant or increasing is academic). That is the reason for the growth in wealth disparity imo
quote:Consider that payroll taxes start at the first dollar earned. If you're saying giving "the poor" an across the board 12.4% pay increase over their entire lifetime wouldn't have the potential to significantly increase their net worth... I don't know what to say.
That is the reason for the growth in wealth disparity imo, not the rate of return on Social Security.
Seems obvious. Opportunity costs are real.
Given the time value of money most retirees could have more money, and better quality of life had they had the chance.
This post was edited on 5/29/14 at 3:07 pm
Posted on 5/29/14 at 3:06 pm to Taxing Authority
quote:
Then its a silly argument.
Right, and that would make this entire thread silly because it's examining causes of wealth disparity and blaming it on SS 'returns'.
quote:
The rich have a far greater capacity to generate wealth. Of course they will get richer, faster.
I already covered that on page 3:
"Hell, you could say, 'The wealthy invest more wisely than the poor' as a better explanation for the wealth disparity than the OP."
quote:
I agree. When people make more money than others - the disparity increases. Seems like a trivial observation, more than a causal relationship.
And all I was saying was that this is how I see it happening, and not how it's described in the OP.
I didn't exactly read the OP all that closely, but now I'm suspecting you didn't read it at all.
You could have just cut right to where I said:
quote:
Basically TA was saying that there's nothing wrong with an increasing wealth disparity
And simply replied with a "yep".
[BTW, you missed the opportunity to discuss individuals moving between classes and how this affects any definition of 'wealth disparity' - just fyi.]
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