Obama's income inequality scam

Discussion in 'Too Hot for Swamp Gas' started by PSGator66, Apr 25, 2014.

  1. PSGator66

    PSGator66 Well-Known Member

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  2. Sohogator

    Sohogator Premium Member

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    To be fair he proposed higher taxes on the rich that was curb stomped by the GOP.
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  3. wgbgator

    wgbgator Sub-optimal Poster Premium Member

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    Probably because he can look at data prior to 2009 (because life didnt start then) and see that there has been a long standing trend, not a sudden occurence.
  4. MichiGator2002

    MichiGator2002 VIP Member

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    Thankfully - have to mitigate the unqualified damage liberalism causes somehow, after all.

    Income inequality is meaningless, valid demagoguery. The second someone brings it up as a crisis, it is the greenlight to not take them seriously on politics or economics.

    Unless it is proven that we have effort equality, and talent equality, income inequality isn't worthy of concern. In a free and functioning society where there are gaps in effort and gaps in talent, the ability to make smart or bad choices, income inequality is a natural fact of life.
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  5. gatorman_07732

    gatorman_07732 Well-Known Member

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    Actually, I don't think it's the governments job to do anything about inequality but is has in fact increase under Obama. Factual data can back up that in 2012 income inequality in the U.S. has been the greatest since the 1920's.
  6. Sohogator

    Sohogator Premium Member

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    I am less concerned about income inequity than wealth inequity. Hence my reasonable proposal for a tax on wealth.
  7. Sohogator

    Sohogator Premium Member

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    It will continue as long as their is no tax on wealth.
  8. fredsanford

    fredsanford VIP Member

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    Good luck making THAT happen.
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  9. mdgator05

    mdgator05 Premium Member

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    Except of course, that the cause of the current income inequality is not because lower income people are unproductive. In fact, they are far more productive than they used to be, when their income stopped growing. The issue is a supply and demand issue on labor, and a refusal to deal with that issue by either of the parties except to complain about it.

    Labor markets are not as attractive a position for economic mobility as they once were due to increased supply and decreased demand of labor. Capital markets are where this economy outputs its gains. So currently, if you don't have resources to extract money from capital markets, you are in more trouble than you would have been 30-40 years ago. So what results is that people with effective amounts of resources by which to extract gains from the capital markets do better, those without those resources have to compete with additional labor, causing them to do worse, and income inequality increases. Now the question is, should the decline in mobility due to the shift to the more capital based market be a cause for concern/something that needs to be dealt with at some level.
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  10. MichiGator2002

    MichiGator2002 VIP Member

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    Taxes on wealth are per se unreasonable. Just small people grabbing at what others have; pure and venal envy. In a just society, let alone a free one, individuals have the right to profit from the fruit of their labor.
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  11. gatorman_07732

    gatorman_07732 Well-Known Member

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    Wasn't this the President's pet peeve coming into office in 2008? Wasn't this something that he wanted to rectify? In fact this has been the lefts crusade for as long as I can remember and it has only got worse in the last 6 years.
  12. gatorbronco

    gatorbronco Member

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    The supply of labor will continue to go up, as those not currently looking for work will start doing as the economy improves.
  13. PSGator66

    PSGator66 Well-Known Member

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    Ok libs - please enlighten us with what is false about this column? It is factually correct even if you don't like what it says. Just like David Gregory - you likely need a pyschologist to inform you that liberalism is a mental illness.
  14. mdgator05

    mdgator05 Premium Member

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    If you are looking for something above the partisan ridiculousness on income inequality, here is a terrific article outlining some of the basics of the research that has been done on the topic of how automation is changing the demand for labor as written by two great researchers from MIT. The change in labor supply should be fairly self-evident due to globalization.

    http://www.theatlantic.com/business...war-against-machines/247278/?single_page=true

    They basically break it down into three major dichotomies: High- and low-skilled labor, superstars versus non-superstars, and capital versus labor. Fascinating stuff all around with the added bonus of being probably the biggest economic issue (or at least in the top 2) of the world economy as we move further into the 21st Century.
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  15. gatorman_07732

    gatorman_07732 Well-Known Member

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    But the argument is it's got worse.
  16. Sohogator

    Sohogator Premium Member

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    Yeah when the rich have a strangle hold on economic and political power that's what happens. It will continue to accelerate until finally we have riots on the streets.
  17. harwil

    harwil Premium Member

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    Uh, not quite .The top bracket was lowered ;there was a Medicare tax imposed on investment income and the limit on Charitable deductions was lowered.
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  18. cjgator76

    cjgator76 Well-Known Member

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    And it will be a crusade for as long as any of us lives and beyond, no matter what the numbers do. It's like " fairness" - a problem that can never be "fixed" and thus a handy perpetual rallying cry.
  19. harwil

    harwil Premium Member

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    Wealth tax and cappysocialism.Sounds like you've been reading reviews of Piketty's tome
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  20. gatorman_07732

    gatorman_07732 Well-Known Member

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    No question about it. It will be a political rallying cry as long as there are people on this earth.

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