Zone1 What is Wrong with Inequality?

[citygator]

"Fair share"? Come on now we've been playing that game for decades. Who decides what is "fair"? I'm all for giving breaks to small business owners. Tax breaks for large conglomerates can be a good thing or a bad thing it a case by case thing.

Too much consolidated wealth is bad for the economy and bad for society.

 

[Care4all]

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.

You seem to be using the wrong word....inequality, vs. the correct word, inequity. Democrats are against inequity, which is controlled unfair practices that can contribute to an artificial, unjust, inequality.

 

[Moonglow]

The rich have been held captive by the tax code for generations, until Trump. 39 percent tax on corporate profits have forced many businesses to expand beyond their desires just to protect their profits from a greedy government that needs that money to support the large indolent population that pays no taxes but keeps them in power.

Everyone pays taxes.

 

[Moonglow]

“Better is bread with a happy heart, than wealth with vexation”​

― Amenemope, Ancient Egyptian Pharaoh

 

[citygator]

Neither Government nor The Rich do anything to prevent people with the talent and initiative from acquiring and accumulating wealth. The examples are too numerous to count. The "argument" that they do is nothing but an excuse by losers for their failure to succeed.

If you don't think that The Rich pay enough in taxes, call your congress-person, but any FAIR tax system would have a maximum tax, expressed in dollars, beyond which the Sovereign may not reach. Elon ******* Musk paid ELEVEN BILLION DOLLARS in FIT in fiscal 2021. Enough?

We live in a society that requires the interaction between people. Super-wealth serves no purpose in a society. Protecting the accumulation of super-wealth is counter to the country's best interests. Taxes should be really high as you make super-wealth levels of income.

 

[martybegan]

You seem to be using the wrong word....inequality, vs. the correct word, inequity. Democrats are against inequity, which is controlled unfair practices that can contribute to an artificial, unjust, inequality.

Inequity is a weasel word. Pushing equity means someone putting their fingers on the scale to tip the balance towards the side they prefer/support.

 

[martybegan]

We live in a society that requires the interaction between people. Super-wealth serves no purpose in a society. Protecting the accumulation of super-wealth is counter to the country's best interests. Taxes should be really high as you make super-wealth levels of income.

Yes, because a bloated bureaucratic government sucking up money is better somehow, because, reasons....

My sig covers my view on this.

 

[Woodznutz]

Everyone pays taxes.

People who don't work don't pay taxes. Many low wage earners collect more in tax-funded benefits than they pay in taxes.

 

[Moonglow]

People who don't work don't pay taxes. Many low wage earners collect more in tax-funded benefits than they pay in taxes.

They do not pay income taxes, but if they buy something, they pay a tax on it.

 

[citygator]

Inequity is a weasel word. Pushing equity means someone putting their fingers on the scale to tip the balance towards the side they prefer/support.

Inequity occurs when a small group put there fingers on the scale and tip it towards themselves... and you complain about the attempt to get their fingers off the scale.

 

[martybegan]

Inequity occurs when a small group put there fingers on the scale and tip it towards themselves... and you complain about the attempt to get their fingers off the scale.

Inequity is a concept used by people trying to game the system to support their political cronies.

Again, my sig shows my views on who I trust when it comes to power and in particular government power.

 

[Woodznutz]

• Larger figures for tax expenditures: Search results indicate that total tax expenditures, which include various tax breaks for both individuals and businesses, are much larger. For example, in 2024, these totaled about $1.9 trillion.

The 20-percent deduction for qualified business income alone amounted to $63 billion in 2024. Accelerated depreciation breaks resulted in nearly $67 billion in savings for a select group of corporations.

Depreciation on "furniture and fixtures" is a business expense (things wear out). Depreciation on real property is 'recaptured' as taxes when the property is sold.

 

[Care4all]

Inequity is a weasel word. Pushing equity means someone putting their fingers on the scale to tip the balance towards the side they prefer/support.

Pushing equity, is the exact OPPOSITE, silly one!

 

[Woodznutz]

They do not pay income taxes, but if they buy something, they pay a tax on it.

As well they should.

 

[citygator]

Inequity is a concept used by people trying to game the system to support their political cronies.

Again, my sig shows my views on who I trust when it comes to power and in particular government power.

What would indicate to you that a group has already gamed the system and is getting more than their fair share? Anything?

 

[rightwinger]

The rich have been held captive by the tax code for generations, until Trump. 39 percent tax on corporate profits have forced many businesses to expand beyond their desires just to protect their profits from a greedy government that needs that money to support the large indolent population that pays no taxes but keeps them in power.

The Golden Rule
He who has the Gold makes the rules

Corporations benefit from Government spending more than working Americans.

Our military protects their global interests and free trade.
Schools benefit corporations who are provided an educated workforce
Roads, ports, rail, power grids benefit corporations more than working Americans

 

[OODA_Loop]

Equity does not exist in natural law.

 

[alang1216]

It is a normal and healthy thing to pass on your wealth to your children.

Absolutely, it is exactly what I intend to do. However, what is good for my family may not be good for our society.

 

[alang1216]

But, this is a Godly principle.

Proverbs 13:22
A good man leaveth an inheritance to his children's children: and the wealth of the sinner is laid up for the just.

Lots of good advice in the Bible, the prohibition of wearing clothing made of a mixture of linen and wool.

I think a cap on inheritances is reasonable. I think anyone could survive on a lump sum of $10,000,000 or $500,000/year.

 

[Lisa558]

Absolutely, it is exactly what I intend to do. However, what is good for my family may not be good for our society.

You can do a mix: donate large sums to charity AND leave money to your children.