Zone1 What is Wrong with Inequality?

[Correll]

The wealth of Americans traveled together until 1980. Then Reagan whacked the top tax rates and all the wealth is now in the hands of the wealthy and we are $30T in debt with less government workers and fewer services and a more upside down wealth equity mix than ever before.

Yes. Making the wealthy wealthier has done exactly that.

....

Actually, if you check those trends the trends started well before Reagan, shortly after the 65 immigration bill.

 

[frigidweirdo]

That's a whole different animal. People who are motivated to make more generally do so. Health and wealth are closely related and attitudes toward both are similar. People generally don't accept good advice about either. Those who do generally succeed at both.

The reality is that some people get lucky, some people are born lucky, others don't get lucky or aren't born lucky.

 

[Woodznutz]

Actually, if you check those trends the trends started well before Reagan, shortly after the 65 immigration bill.

It actually began with mass marketing of products and services.

 

[Lisa558]

Actually, if you check those trends the trends started well before Reagan, shortly after the 65 immigration bill.

The country really began its downhill slide in the mid-60s, and it might have been related to that immigration bill.

 

[Lisa558]

It actually began with mass marketing of products and services.

So in the 1920s, via radio?

 

[Correll]

The country really began its downhill slide in the mid-60s, and it might have been related to that immigration bill.

There were a number of factors that all started pushing in one direction at about that time. But dumping millions of third world workers into the labor pool, could only lead to depressed wages for workers.

Over 60 years.

 

[Lisa558]

There were a number of factors that all started pushing in one direction at about that time. But dumping millions of third world workers into the labor pool, could only lead to depressed wages for workers.

Over 60 years.

And Biden ramped it way up in the last four years alone.

 

[Correll]

And Biden ramped it way up in the last four years alone.

Very true.

 

[Woodznutz]

The reality is that some people get lucky, some people are born lucky, others don't get lucky or aren't born lucky.

Luck does play a part. I've been lucky, however I give God the credit and thanks.

 

[Woodznutz]

So in the 1920s, via radio?

Via several means, mostly by print such as the Sears catalog, often called the "wish book". Door to door sales was a big part. Of course, the means of mass production was born of the industrial revolution, which in turn was fueled by oil. And of course, there were the visionaries who received various government grants in order for such progress to proceed. All part of lifting America to the heights of wealth and power.

But the most important element in this period of time was the expansion of consumer credit, which started in the 1960's.

 

[frigidweirdo]

Luck does play a part. I've been lucky, however I give God the credit and thanks.

Right... God decided to make you a bit richer, while figuring out the rest of the universe too.... how probably is that?

 

[Woodznutz]

Right... God decided to make you a bit richer, while figuring out the rest of the universe too.... how probably is that?

God gives us the rules for success which if followed generally result in (wait for it)..Success!

 

[rightwinger]

Every nation we traded with, gamed the system in one way or another to protect and advance their economic interests.

Now we are doing the same.


That is a good thing. Your anti-American hatred is making you blind to the reality.

Only Trump did not do that
He said he was going to match tariff for tariff

Instead he went after trade imbalance

 

[Correll]

Only Trump did not do that

"Do that"? i made a general statement, what do you mean...oh, you are just shit talking. Got it.

He said he was going to match tariff for tariff

Instead he went after trade imbalance

So his way of addressing the issue has been flexible.

Neither of us care about that. That you pretend to, is you shit talking.

 

[Picaro]

That's a lie. They were no more feral than Europeans, and given what happenedthey were less feral. Again, European colonization messed up the places that were colonized. India had great wealth, which is why the Brits committed the crimes they did in India, killing over 1 billion people during the Raj. It was the European countries that were shitholes at that time.

lol even more insane rubbish. '1 billion', eh? lol must have smelled really bad. Sounds like all the fake numbers of people allegedly killed by the Inquistions; if those numbers were true then Europe would have a population of maybe 10 people now, probably a Chinese tourist trap selling fake Rembrandts and mammoth statues.

 

[Monk-Eye]

" Income Is Not Wealth And Insufficient Proletariat Resources Create Discontent That Gets Bourgeois Strung Up "

* Harmony Of Interests Depends On Amicable Perspectives Of Fairness *

Speaking of personal wealth as measured in economic Net Worth, there is absolutely no question that "inequality" is increasing beyond any precedent in a free country. The people at the bottom, so to speak, have less than nothing; their Net Worth is below zero, while the wealthiest of us - mainly entrepreneurs and investors - accumulate more and more wealth.
It is axiomatic on the Left that "inequality" is bad. They obviously feel that increasing "inequality" is self-evidently evil, and must be fought. They base whole political campaigns on promises to fight inequality.
What's wrong with inequality? Imagine an entrepreneur who invents a new gadget that millions of people quickly decide that they are willing to pay substantial amounts of money to have, and that entrepreneur is able to accumulate a King's Ransom on the profits from those gadgets.
So what? Why is that a bad thing? Is anyone else made poorer or more wretched by the entrepreneur's accumulation of wealth? Assume he pays millions and millions in all manner of taxes, complying with every relevant tax law.

American School (economics) - Wikipedia

en.wikipedia.org

Henry C. Carey, a leading American economist and adviser to Abraham Lincoln, in his book Harmony of Interests, displays two additional points of this American School economic philosophy that distinguishes it from the systems of Adam Smith or Karl Marx:

• Government support for the development of science and public education through a public 'common' school system and investments in creative research through grants and subsidies.
• Rejection of class struggle, in favor of the "Harmony of Interests" between: owners and workers, farmers and manufacturers, the wealthy class and the working class.[19]

 

[Woodznutz]

"

* Harmony Of Interests Depends On Amicable Perspectives Of Fairness *

Which flies in the face of human nature. Inequality results from ignorance of one party and greed of the other. And, the lack of net worth of some cannot be explained by the small disparity in incomes. Net worth is the result of how money is spent; not how much is earned. Many high earners have little or no net worth and vice versa.

 

[Picaro]

Which flies in the face of human nature. Inequality results from ignorance of one party and greed of the other.

One of the reasons Constantine was impressed by the Christians was their social safety net for fellow church members. That was the reason he put the Christians in charge of the empire's social services. The pagans under two of the other tetrarchs tried to compete with the Christians but failed miserably.

 

[Monk-Eye]

" Not Reality Knot "

* Hue Mammon Nature Depends On Validity And Clarity Of Objectives *

"

* Harmony Of Interests Depends On Amicable Perspectives Of Fairness *

Which flies in the face of human nature.

A harmony of national interests for us republic should include a creed from a motto of e pluribus unum , which aspires for independence of the individual and , by equitable doctrine , that equal protection of negative liberties among individuals is instituted , whether an individual is a us citizen , or a us corporation , or a us state , or a us federate , or a civil litigant .

. CDZ - Why Have Socialists Not Privatized The Socialist Ideals ? .


* Constraints To Resources Access *

Inequality results from ignorance of one party and greed of the other.

Does either party include both qualities of ignorance and greed ?


* Three Trillion Debt Increase By Aimless Selective Endowment *

And, the lack of net worth of some cannot be explained by the small disparity in incomes. Net worth is the result of how money is spent; not how much is earned. Many high earners have little or no net worth and vice versa.

A limited liability corporation or incorporation shields an individual from indemnity of personal assets , so an individual would not require a net worth if social amenities were being facilitated through corporate resources .

A directed economy considers areas where fluidity of currency is useful for effective growth in productivity .

. Google Search .
In Keynesian economics, the money multiplier is the concept that an initial increase in spending can lead to a larger increase in overall economic activity, primarily through the re-spending of money. This effect is particularly relevant during economic downturns, where government spending is often used as a tool to stimulate growth. The multiplier effect suggests that a dollar spent can generate more than a dollar's worth of economic activity due to the continuous cycle of spending and re-spending.

 

[Woodznutz]

. Google Search .
In Keynesian economics, the money multiplier is the concept that an initial increase in spending can lead to a larger increase in overall economic activity, primarily through the re-spending of money. This effect is particularly relevant during economic downturns, where government spending is often used as a tool to stimulate growth. The multiplier effect suggests that a dollar spent can generate more than a dollar's worth of economic activity due to the continuous cycle of spending and re-spending.

That's called the 'trade turn' or the 'velocity' of money. However, a growing economy requires a growing money supply as well. If each 'trade', and resulting income, is taxed the money will quickly be diminished, thus an infusion of new money is needed.