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re: Republicans Need To Start Acting Like Adults, And Embrace Income Inequality
Posted on 1/28/14 at 6:31 pm to HailHailtoMichigan!
Posted on 1/28/14 at 6:31 pm to HailHailtoMichigan!
quote:
So it is your contention that income inequality is bad for the nation?
It's a nonsensical question in our society. I'm pretty sure the argument isn't that every person should have the same income.
3
Posted on 1/28/14 at 6:34 pm to VOR
quote:
It's a nonsensical question in our society. I'm pretty sure the argument isn't that every person should have the same income.
But liberals hate rich people who aren't other liberals and want to tear them down.
Hollywood actor getting $20 million for a movie = GOOD
Business executive getting $5 million bonus for raising his company's stock price for the year = GREED
Posted on 1/28/14 at 6:34 pm to VOR
but the reason there is income inequality is because some people are advancing upward.
Posted on 1/28/14 at 6:34 pm to 4LSU2
quote:
native sons
So my taxes are going up so the Indians can build more casinos?
Posted on 1/28/14 at 6:40 pm to goldennugget
Hollywood actor getting $20 million for a movie = GOOD
Business executive getting $5 million bonus for raising his company's stock price for the year = GREED
Yes because the actor had to work so much harder at faking it than actually working for it.
Business executive getting $5 million bonus for raising his company's stock price for the year = GREED
Yes because the actor had to work so much harder at faking it than actually working for it.
Posted on 1/28/14 at 6:46 pm to VOR
quote:Agree.
It's a nonsensical question in our society
Now let's count the number of times our Economic Idiot-in-Chief references the concept of """"income inequality"""".
Nonsensical? . . . . . . Indeed!
Posted on 1/28/14 at 6:49 pm to NC_Tigah
quote:
Now let's count the number of times our Economic Idiot-in-Chief references the concept of """"income inequality"""".
Again, I don't think he means or implies that everyone should make the same amount. There are more than one economist (and not all liberal, btw) who say that too large of a gap between rich and poor is not a good thing.
Posted on 1/28/14 at 6:54 pm to VOR
quote:That is wealth inequality, not income inequality
ho say that too large of a gap between rich and poor is not a good thing.
Posted on 1/28/14 at 6:57 pm to VOR
quote:NO QUESTION!
There are more than one economist (and not all liberal, btw) who say that too large of a gap between rich and poor is not a good thing.
Kind of like Einstein saying that running a "red light" is generally not a good thing.
The question is not whether to maintain the income gap our Economic Idiot-in-Chief has created, but rather how to reduce it.
This post was edited on 1/28/14 at 6:58 pm
Posted on 1/28/14 at 6:58 pm to HailHailtoMichigan!
quote:
That is wealth inequality, not income inequality
There may . . . just may . . . be a correlation.
Posted on 1/28/14 at 6:58 pm to HailHailtoMichigan!
quote:
taking a historical perspective, the increase in U.S. income inequality in recent decades is strikingly similar to the increase that occurred in the 1920s. In both cases there was a boom in the financial sector, poor people borrowed a lot, and a huge financial crisis ensued.
The recent global economic crisis, with its roots in U.S. financial markets, may have resulted, in part at least, from the increase in inequality.
quote:
It may seem counterintuitive that inequality is strongly associated with less sustained growth. After all, some inequality is essential to the effective functioning of a market economy and the incentives needed for investment and growth
quote:
But too much inequality might be destructive to growth. Beyond the risk that inequality may amplify the potential for financial crisis, it may also bring political instability, which can discourage investment. Inequality may make it harder for governments to make difficult but necessary choices in the face of shocks, such as raising taxes or cutting public spending to avoid a debt crisis. Or inequality may reflect poor people’s lack of access to financial services, which gives them fewer opportunities to invest in education and entrepreneurial activity.
quote:
At the level of simple correlation, more inequality seems associated with less sustained growth. Chart 3 shows the length of growth spells and the average income distribution during the spell for a sample of countries.
quote:
Somewhat surprisingly, income inequality stood out for the strength and robustness of its relationship with the duration of growth spells
quote:
Remarkably, inequality retains its statistical and economic significance even when we include many potential determinants at the same time, a claim that we cannot make for many of the conventional determinants of good growth performance, such as the quality of institutions and trade openness.
quote:
One reasonably firm conclusion is that it would be a big mistake to separate analyses of growth and income distribution. To borrow a marine analogy: a rising tide lifts all boats, and our analysis indicates that helping raise the smallest boats may help keep the tide rising for all craft, big and small.
The immediate role for policy, however, is less clear. More inequality may shorten the duration of growth, but poorly designed efforts to reduce inequality could be counterproductive. If these efforts distort incentives and undermine growth, they can do more harm than good for the poor.
quote:
there may be some win-win policies, such as better-targeted subsidies, better access to education for the poor that improves equality of economic opportunity, and active labor market measures that promote employment.
LINK
Posted on 1/28/14 at 6:59 pm to NC_Tigah
quote:
Kind of like Einstein saying that running a "red light" is generally not a good thing.
You make me blush when you compare me to Einstein. But thanks.
Posted on 1/28/14 at 6:59 pm to VOR
quote:Not in many cases. I'm surprised you'd assert otherwise.
There may . . . just may . . . be a correlation.
Posted on 1/28/14 at 7:03 pm to NC_Tigah
quote:
Not in many cases. I'm surprised you'd assert otherwise.
Herp derp. Income inequality and wealth inequality refer to the same thing.
I don't think anybody argues that there should be no income inequality, but you have to be a special kind of stupid to think that a large gap between rich and poor without much of a middle class is detrimental to a country
Posted on 1/28/14 at 7:03 pm to NC_Tigah
quote:
Not in many cases. I'm surprised you'd assert otherwise.
Assuming no inherited wealth, I'm going to suggest that it's easier for a person with a high income to become wealthy than it is for a person with a lower income.
It's that Einstein stuff again.
Posted on 1/28/14 at 7:03 pm to HailHailtoMichigan!
quote:
Republicans Need To Start Acting Like Adults, And Embrace Income Inequality
Translation: Republicans need to start acting like Democrats, and embrace Marxism.
I like this though:
quote:
It’s a sign that enterprise is being rewarded, that investment is reaching the talented over the politically connected, and it also signals that major unmet market needs are being met; hence the rising net worth of successful entrepreneurs.
We should all fight for equal opportunity...but not necessarily equal results. The best should be rewarded. What I believe we are seeing now is the impact that a downward economy is having on those of us who can't depend on capital gains for a substantial portion of our income. Monetary policy has something to do with that.
Good OP article. I may tune into Obama's speech and count how many times he talks about income inequality and blames it on republicans.
This post was edited on 1/28/14 at 7:13 pm
Posted on 1/28/14 at 7:05 pm to dewster
quote:You are missing the point. To EMBRACE income inequality is to be ok with it.
Translation: Republicans need to start acting like Democrats, and embrace Marxism.
Posted on 1/28/14 at 7:06 pm to VOR
quote:
Again, I don't think he means or implies that everyone should make the same amount. There are more than one economist (and not all liberal, btw) who say that too large of a gap between rich and poor is not a good thing.
It would be really nice if one of these arse clowns actually talked about the reason for the growing gap instead of its mere existence.
This post was edited on 1/28/14 at 7:12 pm
Posted on 1/28/14 at 7:06 pm to dewster
quote:
Translation: Republicans need to start acting like Democrats, and embrace Marxism.
You quite obviously did not read the article
Posted on 1/28/14 at 7:10 pm to VOR
I'm going to suggest that it's easier for a person with a high income to become wealthy than it is for a person with a lower income.
Right Einstein but if a person of wealth flounders it a lower income person can become of more wealth over time.
A person of high income has usually earned the income rate they are receiving and so has the lower income person. To manipulate the income rate based on just having a position, not an earned position, is greatly flawed an unfair to those who would strive to earn their higher income.
Right Einstein but if a person of wealth flounders it a lower income person can become of more wealth over time.
A person of high income has usually earned the income rate they are receiving and so has the lower income person. To manipulate the income rate based on just having a position, not an earned position, is greatly flawed an unfair to those who would strive to earn their higher income.
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