Inequality, the Middle Class, and Growth

[initforme]

At least you are sending your kids to college. Its the only, I mean ONLY, chance they have to get a little ahead. If you arent born into money, you arent going to be rich. Fact.

 

[SniperFire]

If you arent born into money, you arent going to be rich. Fact.

There are many stupid things said on this board. That one is right up there with the best.

 

[Steelplate]

I don't lie.
I am typing on a zaReason computer.
Your Vizeo TV - you probably think it is American. It is an American Company that imports TVs.
My Wall oven is Frididaire.
My dishwasher is Bosch
My Refridgerator is an Amanai
My chest freezer is made by Artic Air

That is my house.
Now my business...
I buy six figures a month of American made coated paper through Unisource, I use paper made by NewPage. From Xpedx I buy 5 figures a month of offset paper called Husky Offset...manufactured in North America.
I buy Ink from EFI and it is manufactured in the U.S.

I buy more American made products in a single day than you do in a year.

Want a medal? If I had the resources and the need, I would buy more. However since I'm putting my second child through college with only a one year hiatus between the oldest and the youngest, I do the best I fucking can.

Besides...you could very well be one of those "Message Board business tychoons". Who knows? It's easy to be tough and successful in anonymity.

Want a medal? WTF is that supposed to mean? You asked what do I do and I told you...oops...it wasn't the answer you expected was it?
I also am putting a child through college and my youngest will be a senior in high school next year.
You don't need more resources to buy American...the appliances I have - I bought all of them through Amazon at competitive prices that are no higher than the foriegn ones. (And BTW I forgot to mention our W/D is also American manufactured)
My Zareason computer - cost less than most of the Dells/HP's/Compaqs etc.
I refuse to go to f*cking WalMart. I find it disgusting that the largest employer in America is a retail outlet store selling products basically made with slave labor...and I am the bad guy.

No...you're not the bad guy. The thing is....neither am I. But that thought is incompatible with the current mindset of modern day conservative politics and propaganda.

 

[Jackson]

Jared Bernstein: Inequality, the Middle Class, and Growth

Trickle-down economics, inequality, and incomes. Another piece of evidence with implications for rebuilding a strong middle class comes from new work by economists Emmanuel Saez et al. As shown in the figures from their paper (see here), they use international evidence from a wide variety of advanced economies to examine two key links in the logic of the supply-side chain.

First, they look at the relationship between the top marginal income tax rate in these countries and the change in income inequality. They find a strong negative correlation: in countries like ours that cut the top marginal tax rate, income is a lot more skewed (and note that this refers to pretax income, so the result is not a direct function of the tax policy changes).

But the critical question for supply-side is whether these high-end marginal tax rate reductions lead to faster income growth (we've already seen that they lead to more income inequality). The bottom figure shows that they do not. Real per capita income growth across these countries is unrelated to the changes in tax rates.

The above points emphasize an economic rationale for a growth model more favorable to the middle class. More broadly shared growth would not only score higher on a fairness criterion; it would provide a more reliable and durable structure for overall growth itself. It is no accident, in this regard, that the era of heightened inequality coincides with the arrival and persistence of what I've called "the shampoo economy:" bubble, bust, repeat.

Why do non-rich Repugs continually vote against their economic interests? Mental illness?

Conservatives are smart enough to understand that we cannot continue to run high defecits and not curb our spending habits. We have come to the breaking point.

Inequality arises when half of the population is waiting for checks from Uncle Sam without being productive members of the country. It's not mental ilness on our part, it's pretty simple math. Fifty percent of the population is paying taxes and the other half isn't.

 

[Steelplate]

If you arent born into money, you arent going to be rich. Fact.

There are many stupid things said on this board. That one is right up there with the best.

While his observation is very much absolutist, the odds are long if you don't have that head start. The vast majority of our people will work their entire lives for someone else. Those people deserve a decently comfortable life too.

 

[SniperFire]

No...you're not the bad guy. The thing is....neither am I. But that thought is incompatible with the current mindset of modern day conservative politics and propaganda.

You are completely full of shit. Nobody loves their cheap slave-labor imports like Democrats.

Just another example of your 'mindset' which you are trying to project to conservatives with your propaganda:

'Blue States Don't Buy American Cars'

'In seven states, imports are the top five vehicles. All seven went for Obama in 2008: California, New York, Florida, Hawaii, Massachusetts, Connecticut, Rhode Island.'

Blue States Don't Buy American Cars: Poll - TheStreet

 

[initforme]

"There are many stupid things said on this board. That one is right up there with the best."

Yes I know, facts are stupid. I guess its possible with a college education. There are a few exceptions. A very few. See some still buy into the fact that america is the land of dreams and opportunity. Sure it is. But to instill in kids that they can become wealthy and the american dream is this great awesome thing is surely a form of indoctrination that isnt anything close to being realistic. Barely making ends meet, thats reality.

 

[iamwhatiseem]

At least you are sending your kids to college. Its the only, I mean ONLY, chance they have to get a little ahead. If you arent born into money, you arent going to be rich. Fact.

Total sheeple bullsh*t.
College is not for everyone. 60% fail or quit after wasting a colossal amount of tax dollars idiotically financing them. A child fails in High School and we send him/her on to college fully paid for by taxpayer dollars with little strings attached?? STUPID.

 

[SniperFire]

"There are many stupid things said on this board. That one is right up there with the best."

Yes I know, facts are stupid.

Fact is, most of the rich in America did NOT come from money, moron.

 

[Katzndogz]

At least you are sending your kids to college. Its the only, I mean ONLY, chance they have to get a little ahead. If you arent born into money, you arent going to be rich. Fact.

A college degree doesn't help NOW. A four year college degree occupies the same level of import as a high school diploma did 50 years ago. The only chance is a post graduate degree.

 

[Jackson]

At least you are sending your kids to college. Its the only, I mean ONLY, chance they have to get a little ahead. If you arent born into money, you arent going to be rich. Fact.

Is that your goal? To be rich? How about just being comfortable and having enough pride in yourself that you worked hard to make a living wage and get what you and your family needs or wants?

Btw, if your desire is to be rich, this is one of the few countries that is possible. Capitalism works.

 

[initforme]

"College is not for everyone. 60% fail or quit after wasting a colossal amount of tax dollars idiotically financing them. A child fails in High School and we send him/her on to college fully paid for by taxpayer dollars with little strings attached?? STUPID."

1) I sent my kids to college. It paid off. I paid for it. Fully paid by the taxpayers? We got no help. Scholarships was it. A little bit of student loans which they paid back did the rest. They surely would be making less working for some rotten company if they didnt get a further education. Best investment they ever made. Ask em.

2) Those that fail in school simply have zero work ethic.

Theres zero merit in your response. Zero

 

[iamwhatiseem]

Want a medal? If I had the resources and the need, I would buy more. However since I'm putting my second child through college with only a one year hiatus between the oldest and the youngest, I do the best I fucking can.

Besides...you could very well be one of those "Message Board business tychoons". Who knows? It's easy to be tough and successful in anonymity.

Want a medal? WTF is that supposed to mean? You asked what do I do and I told you...oops...it wasn't the answer you expected was it?
I also am putting a child through college and my youngest will be a senior in high school next year.
You don't need more resources to buy American...the appliances I have - I bought all of them through Amazon at competitive prices that are no higher than the foriegn ones. (And BTW I forgot to mention our W/D is also American manufactured)
My Zareason computer - cost less than most of the Dells/HP's/Compaqs etc.
I refuse to go to f*cking WalMart. I find it disgusting that the largest employer in America is a retail outlet store selling products basically made with slave labor...and I am the bad guy.

No...you're not the bad guy. The thing is....neither am I. But that thought is incompatible with the current mindset of modern day conservative politics and propaganda.

What is "modern-day conservative politics"?
And how is it different than "modern-day Democrat politics"?

Did you know that Jeffery Immelt is Obama's Jobs Czar? How is that for liberal policies?
Do you know who Lawrence (Larry) Summers is? What do you know about him? He is currently Obama's director of the National Economic Council...how is that for Democrat policies?
Do you know what Larry Summers did while working under President Clinton?? I didn't think so.
Ever heard of the derivative market? You ever hear of the story of how the SEC was forced to abandon their investigation on the derivative market? Who made millions the very next year after that decree THAT HE AUTHORED...who?...Larry Summers. Watch The Full Program Online | The Warning | FRONTLINE | PBS

Don't give me this "it's all conservatives" horseshit. Your Obama is more tied to Wall Street than Bush was. Get over it.

 

[initforme]

"Is that your goal? To be rich? How about just being comfortable and having enough pride in yourself that you worked hard to make a living wage and get what you and your family needs or wants?"

Thats what I did. I did work hard. I took care of my family. I started and ran my own business for 24 years after spending 20 in corporate america. As far as the american pride in working hard to make a living wage? I see hard work as part of life, creates no warm fuzzy feelings inside of me. Its what my parents did. Its what I did. I knew going in I'd never be rich. I just hate the phrase "american dream." To me its stupid, moronic, and dumb. I do believe in hard work and saving. Thats what I did. But it surely isnt any part of a dream or bs like that.

 

[Widdekind]

Demand creates jobs, not tax cuts for the rich

Taxes help create jobs ?

The biggest advantage of having the uber-rich paying their fair share in taxes is that our natonal debt would be greatly reduced. Instead of having to destroy government services that help each citizen, the government could provide infrastructure improvement grants to communities, more health inspectors could be hired (and maybe slow down the constant e-coli outbreaks,) more staff could be hired to maintain our national parks...jobs. Jobs.

Or the 1% could keep their money and let the middle class continue to carry the tax burden, because apparently the middle class doesn't work hard for their money like the rich do.

Government = Force

you advocate invoking "Government Guns", to take "other people's money", for "you & your Middle-Class friends" ?

you define that as "fair" ?

do you "work harder" for "your" Money, or "vote harder" ?

"starve the beast" trick:
1) First, cut taxes -- who does not want that?
2) Then point to the huge deficit and make hard decision to cut Medicare and social security.

Government = Force

you advocate invoking "Government Guns" to make "fat-cats" pay, for your Healthcare, and your Retirement ?

that is your "American Dream" ("OPM sets you up for life") ?

"vote [for Entitlements] today, retire tomorrow" ?

 

[Widdekind]

The vast majority of our people will work their entire lives for someone else. Those people deserve a decently comfortable life too.

Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
Abraham Lincoln​

"Labor" did not invent "Capital"

innovative "Inventors" did invent "Capital" (e.g. Sumerians pioneered machine automation, 6000 years ago, with their invention, of the automatic seed-plow, perhaps earth's first "labor-saving" invention)

"respect!" to innovative "Inventors"
"respect!" to their "Patents"
"respect!" to their "Royalties"

"dis-respect!" to those who try to steal credit, for other people's efforts

 

[Widdekind]

If people don't have the money to spend....the economy will die a slow and painful death

some people don't think that the workforce deserves to have a decent life. They can [work] to make someone else vast amounts of money, but still struggle mightily to pay their bills and feed their families

... real, living wages...

... our wealthy won't make as much (but still remain incredibly wealthy) to give Joe Schmoe a wage that he can raise a family on in reasonably comfortable fashion.

...The vast majority of our people will work their entire lives for someone else. Those people deserve a decently comfortable life too.

Labor "deserves" to live "decently & comfortably", i.e. are "Entitled" to the American Dream of a "good life"...

paid for by "other people's money (OPM)"...

since "they have plenty" ("they've got theirs, so gimme mine"), and "we will spend it well"...

in fact "we will spend it better", so that the entire economy improves... ??

you vouchsafe, that you are "better with money", than the "already-wealthy" ?? what happens, to 'my' country, if i believe-and-follow you ?? 'my' country will earn a world-wide reputation, for wise-and-astute handling of money ??

all war is deception (Sun Tzu)
all deception is war ? (widdy)
we won't talk straight, on Money ?? (widdy)
only Life-and-Limb trumps Property-and-Money; we'll start talking straight, somewhere between Limb & Life ??? (widdy)​

 

[Widdekind]

... If you try to kickstart a stagnated economy by artificially fueling demand, this can only be done with cheap credit...

A nation's aggregate demand is not something that needs to be stimulated by government

Fractional-reserve banking already effects ideal "demand-side" stimulation, Governments implausibly "better bankers" on money matters

 

[Dragon]

Ownership is a societal convention, not an absolute of nature.

 

[ThinkCritically]

Ownership is a societal convention, not an absolute of nature.

Tell that to my two pet dogs, they are pretty possessive with their bones.