______________________________________________
Aug 2008...
George Hussein Onyango Obama,
Senator Barack Obama's long lost
brother was tracked down living in
a hut on the outskirts of Nairobi
Posted on 01/06/2014 9:27:56 AM PST by MegaSilver
Income inequity is not a “problem” to be “cured” if it results from free market transactions. If it does, its Adam Smith 101 — someone getting rich (ie, having much more income than me) because he or she produced something I want. Way too many people have bought into the idea that unequal income is a problem. In its right form, it makes everyone richer.
What bugs me about inequality debate is the lack of distinction between assets and income.
Some of us, make assets a proirity; real estate, equity and bonds. We save and defer to accumulate. Of course, including these items will distort the wealth quintile distribution charts being shown to us lately.
Then there is the corresponding income from assets. This needs to be stripped as well for comparison. Suppose I spend a lifetime of acquiring apartment buildings, living below my means. Then I reap the net rental income. This is a lifestyle choice, not a confering of wealth based on birth. Why is this in the equality comparison?
So the inequality charts should be based on income from employment (not benefits). We already know that the tax inequality pretty much is adjusted to take income from the upper quintile and give it to the lower.
What is the beef then?
Our financial reporters are smart enough to understand this. Over on Business Intelligence, for example they fail to normalize inequality for assets.
I have a feeling that this is the much anticipated punishment of savers movement. See Cyprus last year.
Yes it is simple~!
Take from each according to his means, and give to each according to his needs.
Now where have I heard that before...?
.. DEmocRats to seek a fairer equaler path this year.. lol .. to address..
U.S. inequality and to suggest that only redistributive taxation will solve or even alleviate it.
...
Didn’t we have a revolution thingy over taxes a long long time ago? .. and that had nothing to do with redistribution, it was all about taxation. It was called survival back then, freeing us from oppressors who knew better what we should have left in our pot at the end of the workday.
considering the leftist elites of today, it almost seems like regime rule by media decree these days, now that is what truly taxes so many of us, even as we breathe in the BS of the Progre$$ives.
With Big Government Liberal Doctrine there will always be Makers and Takers!
So what is the other 72% of it's cost spent on? Does this genius think those suppliers won't also be effected by the minimum wage hike?
No market change happens in a vacuum, whatever is changed changes everything.
The main problem with this (as Thomas Sowell eloquently points out in his books) is that liberals take a snapshot in time and call the disparity between groups “income inequality”
What liberals (and others as well) don’t take into account is that people are constantly transiting in and out of different income levels. Someone who is in the low income level this year would hopefully move up as they gain job skills.
Conservatives don’t expect someone flipping burgers at McDonalds to work there for life and support a family, and we expect them to move up and out over time.
Liberals believe people should be able to flip burgers their whole life, make as much as a surgeon and support their families on it.
Rolling Stone Magazine?
My beef with “income inequality” is even more basic.
Personal “income” is an outcome - of one’s working to maximize your value to an employer and one’s effort in supporting yourself.
Arguing for “income equality”, therefore, is arguing that everyone should make the same amount regardless of their effort to better themselves. It is communism, plain and simple.
America was founded on equal opportunity - not equal results.
With the huge numbers on welfare and getting food stamps and other programs in the country, we have more of a work inequality then an income inequality.
People that are not doing a damn thing are expecting to have the same as those that do work.
Leftists are insane. They are promoting amnesty, which will depress income and all kinds of other things that will turn us into a 3rd world country while talking about “inequality”
I think the ultimate objective is to tax wealth (that is, assets) because so far the government has only been able to get at wealth through death taxes.
This, in fact, has been suggested by various left-wing world economic groups: a 10% tax across the board on the wealth of everybody who has over a certain (rather modest) amount.
This will fatten the bank accounts of governments worldwide and, in our case, give Obama and his family and all the other bureaucrats lots of fun in the sun on Hawaii. Don’t forget, it’s all about feeding the government and those chosen by the political power to get into the sacred halls of government. The supposed “victims of income inequality,” on the other hand, are not going to see a dime of it.
Communism is wrong... ALWAYS AND FOREVER... and this article is a waste of time and effort.
My point exactly... communism is evil and wrong... always has been... always will be. It leaves death and destruction in every path that it takes.
Are we talking about inequality of possessions? Is everybody supposed to have exactly the same amount of stuff at the same time?
Are we talking about inequality of character and integrity?
Exactly what is the "inequality" that can be "cured?"
______________________________________________
Aug 2008...
George Hussein Onyango Obama,
Senator Barack Obama's long lost
brother was tracked down living in
a hut on the outskirts of Nairobi
“Arguing for “income equality”, therefore, is arguing that everyone should make the same amount regardless of their effort to better themselves. It is communism, plain and simple.”
Im not an expert in communism but I dont think all workers receive the same wages. Even in the USSR more highly educated and trained were paid more and received greater benefits. This whole income inequality BS is just a ruse to fleece the “rich” to give more money to RAT supporters. If they really wanted to reduce inequality they would focus on the poor/absent job skills and education of the lowest classes of the multigenerational welfare addicts.
Raising the minimum wage simply does not reduce inequality. It merely increases the minimum level of labor productivity for which an employee is able to legally contract with an employer. Work harder, biotches!
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