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Posted on 9/18/20 at 7:48 am to ApexTiger
quote:
Income inequality gap
I dont understand why this is a topic. The reason I've worked hard my whole life it to position myself in the upper half of the income spectrum. If there were no income inequality, I would have no motivation to work hard.
Posted on 9/18/20 at 7:55 am to texridder
quote:
Most people who are guilty of espousing a post hoc fallacy rarely get any coverage, unless it's negative. Sowell is no exception.
bullshite. How can you not see it? True post hoc fallacies get extensive coverage. Every major news source does it every day. Politicians and the media LOVE post hoc fallacies.
Sowell’s references to several examples of how blacks were better off before white saviors (my words, not his) came in to “rescue” blacks with various legislative acts and political strategies are exactly that - examples. The substance of his point is the cause and effect relationship between the change in incentives and the likely (and highly predictable) outcomes.
Posted on 9/18/20 at 7:57 am to DownshiftAndFloorIt
quote:
I dont understand why this is a topic. The reason I've worked hard my whole life it to position myself in the upper half of the income spectrum. If there were no income inequality, I would have no motivation to work hard.
I have always been a fan of income inequality. Without income or wealthy inequality, there is no differentiation of success. You cannot even reap the rewards of your successes.
I don't understand why income inequality or wealth inequality even matters. The real issue is the quality of life for the lowest earners. The quality of life for the lower earners is better than it is ever been even if the income inequality is greater than it has ever been.
That is a net win for the low earners. The focus on income inequality is not to help those in need of help, it is to punish those who are successful.
Not only should income inequality not matter but NC_Tigah posts shows exactly why it is such a faulty metric. The bottom 10% earners could increase their income by 100% and the top 10% could increase theirs by 10% and the inequality grows even though the change was 10x.
Posted on 9/18/20 at 8:00 am to ApexTiger
You should check out the income gap between white people and Indian (dot) Americans.
It’s as large a gap as between white and black. So what secret systemic racism is at play there?
It’s as large a gap as between white and black. So what secret systemic racism is at play there?
Posted on 9/18/20 at 8:02 am to Zach
quote:Girl would go away for a few months, and come back with a new "sister"
A young single girl getting pregnant (and the boy refusing to marry her) was incredibly shameful for the girl and her family.
Posted on 9/18/20 at 8:05 am to ABearsFanNMS
quote:LBJ created the Welfare State and increased income redistribution when the World, not just the USA, was using the Gold Standard.
The funny thing is the gap between African Americans and the general public was not as wide as it was prior to LBJ creating the welfare state. Thomas Sowell speaks about this all the time and it gets no coverage.
This matters because Gold is essentially a fixed amount. Trivial amounts are added to the world supply annually. The difference between most and least was always closer under GS as the ceiling was essentially fixed, theoretically one could have "all" and everyone else "nothing". Fiat money money removed the ceiling, there is no "all" when more can just be created out of thin air.
Most poor and poorly educated still think in terms of GS "all or nothing". Child like ignorance, much the same as "best" fixation (best food hamburger vs hotdog, best car/truck/SUV, best career, etc.). The smarter people understand Fiat and now create wealth out of nothing (think virtual properties like twitter, tiktok). The limit is imagination and stupid people imagine stupid stuff.
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