Cons/repubs: you really should be concerned about the disparity of wealth

Discussion in 'Politics' started by Billy000, Dec 3, 2011.

  1. Billy000
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    Billy000 Democratic Socialist

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    It has been an issue since the 1970's that productivity in the lower and middle class jobs have risen, but wages have remained flat. In other words, the "rich" are not earning all of the money that they make.

    If those at the top of the income distribution receive far more than the value of what they create, and those at lower income levels receive less, then one way to correct this is to increase taxes at the upper end of the income distribution and use the proceeds to protect important social programs that benefit working-class households, programs that are currently threatened by budget deficits.

    This would help to rectify the maldistribution of income that is preventing workers from realizing their share of the gains from economic growth.

    Cons/repubs: why does this not bother you? This philosophy that people should keep every cent they make is flawed in the financial system we live in. If you are a blue collar worker, you are being robbed. It's that simple.

    And, no, I have nothing agains the wealthy. They deseve to be well paid for what they do, but not nearly to this extent.

    This is why libertarian ideas are dangerous.
     
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  2. Truthmatters
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    Truthmatters BANNED

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    concentration of wealth into fewer and fewer hands kills caplitalism.

    I am a capitalist.

    I am a democrat.

    They ONLY way caplitalism can be kept alive is for there to be regulations to keep the wealth from always concentrating into fewer and fewer hands.

    If you truely love caplitalism then you have to want it to survive.

    Unfettered capitalism turns quickly into the making of kings and queens.

    That my friends is what our founders decided to leave on the trash heap of history.
     
  3. Billy000
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    Billy000 Democratic Socialist

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    Well said.
     
  4. PoliticalChic
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    PoliticalChic Diamond Member

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    "...wages have remained flat."

    No they haven't.

    1. The statistics that claim the above fail to include the value of benefits such as health insurance and retirement benefits, etc., which have represented a growing share of compensation over the years. See Cox and Alm, “The Myths of Rich and Poor,” p.21

    a. Nor do these sophists separated full time workers from part time (part time work has been growing, another indicator of rising prosperity). Of course, including the weekly wages of part timers pulls down the statistical average.

    2. In actuality, the income of full time wage and salary workers increased between 1980 and 2004, and so did real income- either by 13% or 17%, depending on which price index is used in the calculation. Reynolds, “Income and Wealth,” p. 63.

    a. If health and retirement benefits are included, as they should be, worker compensation rose by almost a third. And, even this is illusory, as it doesn’t include the “statistically invisible (not on taxes) returns inside IRA and 401(k) plans.” Reynolds, op. cit., p.64.


    "...increase taxes at the upper end of the income distribution and use the proceeds to protect important social programs that benefit working-class households, programs that are currently threatened by budget deficits."

    3. . “The top 5% pay about 58% of all Federal income taxes paid.

    So if you raise their incomes, at the same tax rate, the Federal government will realize more revenue.

    The bottom 50% of earners paid 2.7 % of Federal tax revenues.

    The top 5% pay 33% of their income towards Fed income tax, while the bottom 50%, pay 13%” Milo40: The top 5% pay about 58% of all Federal income

    4. "...protect important social programs..."
    Can you name some of the federal social programs that have been cut?
    None? Not even one?


    "...maldistribution of income that is preventing workers from realizing their share of the gains from economic growth."

    5. Totally false and ignorant. The more you work, the more you make.

    a. As productivity and skills increase, workers earn more. Productivity of workers in competitive markets is what determines the earnings of most workers; and it is not an accident that labor earns about 70% of the total output of the American economy, and capital earns about 30%.

    In Alan Reynold’s “Income and Wealth,” he studied the data, and found the following. Certainly the top fifth of households has a far greater proportion of same, but it also has six times as many full-time workers as the bottom fifth, heavily composed of two-earner couples with older children or other relatives who work. The bottom fifth is heavily composed of aged or younger couples, the retired or the still in school. Also, some in the bottom fifth because they are part of the underground economy, or in crime, so income is not reported. Or suffer addictions which preclude work.

    b. In 2004, 56.4% of households in the bottom fifth featured no work by anyone for the entire year.
    HINC-05--Part 1

    c.The total number of full time, year round workers in the bottom fifth for 2004 was less than 3 million…which compares to 16.4 million in the top fifth of households. Ibid.
    The difference in income does not reflect inequality, but rather, productivity. The fact that the lowest fifth are neither starving, nor living in the streets reflects the intrinsic generosity of our society, and the transfer of incomes via government programs. 80% of income in the bottom fifth is from such transfers; it is only 2% for the top fifth.

    You're welcome for that lesson in economics....dolt.
     
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  5. PredFan
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    PredFan Gold Member

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    I doesn't concern me because there is nothing wrong with it.

    I suppose it will be useless to ask for links or any kind of proof of this. In the absence of that, I'll just throw this out there: You are measuring "worth" by productivity. That is a mistake. The "rich" would include doctors, engineers, scientists, investors and the like. Their "worth" isn't derived by how many widgets they put out, but they have worth just as well.

    Why is socialism, an economic system that always fails, always the answer with you people?

    The workers ALWAYS get their share of the gains of econimc grouth, unless they are volunteers.

    Because there isn't anything wrong with it.

    No, it isn't. That is just left wing propaganda that has no basis in fact.

    That's garbage.

    So, someone gets to decide how much money someone can make?
     
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    Last edited: Dec 3, 2011
  6. PoliticalChic
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    PoliticalChic Diamond Member

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    Pred, it seems that Billy...who was kind enough to provide his IQ score as part of his name, has chosen to run from our posts....

    ...I wonder why.
     
  7. imbalance
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    imbalance Silver Member

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    A simple understanding of the laws of supply and demand go a long way in explaining the root of wage inequality. Over the past few decades the high-tech sector of the US economy has expanded as the manufacturing sector has contracted. Partly due to illegal immigration, the supply of unskilled workers has inflated over these decades while the demand for unskilled workers has fallen. Any time supply rises as demand falls the equilibrium price (wage) drops.

    Meanwhile, demand for skilled workers has risen while the supply has not kept pace, hence the equilibrium price (wage) has increased. And by skilled workers I don't mean someone who spent six years getting a liberal arts degree in ethnic studies; we have to import engineers from Asia and other parts of the world to try meet the demand for these skilled workers yet we still have a shortage.
     
  8. CrusaderFrank
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    Progressives will keep redistributing wealth until there's none left
     
  9. PredFan
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    PredFan Gold Member

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    IQ score, ROTFLMAO
     
  10. whitehall
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    whitehall Gold Member

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    Has there ever been a time in human civilization where their hasn't been a "disparity of wealth"? The Stalinist regime the left secretly admires made war on it's own people. Russian police arrested or killed every suspected capitalist in villages and then watched them starve to death. The "equality" of communism made sure that there would be only two classes, the ruling class and the poor. There were stories of Stalin's trains loaded with food bound for vacation dachas passing trains loaded with the bodies of starved people. The ignorant spoiled left and the insane anarchists want Americans to believe that robbing the rich so that everyone can be poor is the way to go. Say it up front lefties and quit using catch phrases like "disparity of wealth". Tell us that you want to defeat capitalism and replace it with a bland hopeless socialist system. It's your last chance now that you have a socialist in the white house.
     
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    Last edited: Dec 3, 2011

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