That it would have found both expression and support via the NYT is a (sadly) laughable certainty.
spit
Following his logic, the most ‘equaled society/nation’ then should enjoy (have enjoyed) the best economic prosperity, then.
Those academic types never seemed to envision while ‘forcing more equality’ onto a society, there will inevitably be involved with dictatorship or something close to it.
So...just pass a law making everyone equal. What’s the problem? [/s]
I would say inequality created by tax brackets is causing people who are acheivers to stay in the middle instead of moving up the ladder making it impossible for people on the bottom from moving up....
I have known people who ahve been ambitious who have been crushed by the fact that should they take a promotion they would earn less because it would boost them into a higher tax bracket and it would take 5 years worth of promotion before they ended up “breaking even” the effect this has on the people at the bottom who stay there because there is no forward flow is INCALCUABLE!
Thanks for sharing this revealing peak into the mind of a UN communist economist.
Just mint a whole bunch of those trillion dollar coins, distribute them to everyone, and we will mostly be on pretty equal footing. Wouldn’t that fix everything?
That it would have found both expression and support via the NYT is a (sadly) laughable certainty.
spit
leftists are seriously ignorant when it comes to economics
half the people pay NO taxes, how is that for inequality?
The most “equal” societies on earth in terms of wealth are the primitive hunter-gatherer tribes that haven’t made any significant technological progress in thousands of years. That’s hardly a state that I think we ought to aspire to!
Yeah, not enough government coercion. That’s why the USSR went belly up.
The author makes this statement:The Obama administration does not, of course, bear the sole blame. President George W. Bush’s steep tax cuts in 2001 and 2003 and his multitrillion-dollar wars in Iraq and Afghanistan emptied the piggy bank while exacerbating the great divide.
Multi trillion dollar wars? Can we finally put that myth to rest? Here is the cost of both wars through 30 sep 2012:War Costs To Date
[Note: These totals are based on appropriations that provide funding through the end of the current fiscal year on September 30, 2012.]
•Total War Funding: $1.38 trillion has been allocated to date to fund the wars in Iraq and Afghanistan, including $121.1 billion in fiscal year 2012.
•Iraq: To date, $807.4 billion has been allocated for the war in Iraq since 2003, including $10.1 billion in fiscal year 2012.
•Afghanistan: To date, $570.9 billion has been allocated for the war in Afghanistan since 2001, including $111.1 billion in fiscal year 2012.
Source: National Priorities Project.
Please note that Obama’s Stimulus alone cost more than the Iraq war.
You mean THIS Joseph Stiglitz?
http://blogs.wsj.com/developments/2012/10/01/how-joseph-stiglitz-misread-the-risks-at-fannie-mae/
How Joseph Stiglitz Misread the Risks at Fannie Mae
A March 2002 paper in this series by Dr. Stiglitz and others found that the probability of default by Fannie or Freddie was “extremely small.” The economists studied the risk-based capital requirements recently imposed by Fannie’s regulator. These capital requirements were based on a “stress test,” producing estimates of how much capital Fannie and Freddie would need to survive a sharp rise or fall in interest rates, coupled with a long-term surge in mortgage defaults. “The implied credit loss rate (under the stress test) is more than five times as large as the national credit loss rate in any year since 1980,” the paper said. The probability of the stress-test conditions actually occurring was less than one in 500,000, the authors wrote.
So raise taxes again on those Eeeeevil Rich and send everyone in the middle class a Walmart gift certificate.
Seems simple enough.
Second, the hollowing out of the middle class since the 1970s, a phenomenon interrupted only briefly in the 1990s, means that they are unable to invest in their future, by educating themselves and their children and by starting or improving businesses.
True - but unrelated to "inequality." Does Stiglitz think we'd improve these issues by bombing and incinerating the assets of the rich? That would reduce inequality.
If this article reflects reality then the fate of the middle class is exactly what Marx predicted years ago.
Small minded slow thinkers can only blame the ones who get the tax breaks whilst ignoring the ones who give the tax breaks. CEOS and lobbyist do not write the tax code. Place the blame where it belongs, on the people you can remove by your votes.
“The worst form of inequality is to try to make unequal things equal.” Aristotle
balderdash
I say the greatest source of inequality in this nation is illegitimacy
A woman who elects to have a child or children without a spouse and economic partner faces a lifetime of being financially behind 2 parent households, and their children face a poverty of spirit that comes from not having 2 parents who love and support each other and their children and model it in their lives together as a family
Just walk through any minimum wage workplace and see the number of single mothers struggling to get by on marginal wages. I would bet a parent’s marital status affects their lifetime income more than their education level
North Korea is highly equal.
Explain that one, Joseph S.
Solve inequality without theft, jerk. I dare you.
It always boils down to theft with leftists.
The unequal tax burden that we are saddled with - 49% are not paying taxes or are taking tax credits that they never earned.
The unequal distribution of handouts aka "redistribution of my wealth". The same people that are not paying taxes are getting a free ride- everything from rent to cell phones, if you've worked to earn it, they want it too.
The unequal distribution of "stimulus" money and "get out of jail free cards" to companies that support the leftist agenda.
What would it take for Stiglitz’s of the world to acknowledge ‘our own gorvernment is holding back the recovery’?
From wiki: “.... one of the most frequently cited economists in the world,[7] and in 2011 he was named by Time magazine as one of the 100 most influential people in the world.[8]”
** Dr. Sowell is also a frequently cited economist, but of course those citings don’t count.
Stiglitz is unaware of the sad reality posed by the product of four generations of Pooblik Skruel Collective ‘graduates’.
Many of the grads are functionally illiterate, violence prone, have little to no socialization and richly deserve their Urban Feral” description.
Factor in a measurably lower I.Q. and nothing some Libtard bleats about will alleviate the deficit of those Urban Ferals.