Reducing economic inequality

[Deleted member 159002]

One party's ideology doesn't seem to consider economic inequality a problem, the other party thinks economic inequality is a problem but isn't proposing anything that would significantly reduce it.

What policies do you think could ensure that the benefits of economic growth are broadly share?

A massive expansion of the EITC? Social Security?

 

[Skip Reming]

income inequality is not an issue
there is no reason we should all make the same

business owners take risks employees don't
not all employees are equal
not all jobs should be compensated the same

/thread

 

[Deleted member 159002]

income inequality is not an issue
there is no reason we should all make the same

business owners take risks employees don't
not all employees are equal
not all jobs should be compensated the same

/thread

Not even Robert Dahl thought everyone should make the same.

Inequality should be allowed to exist to ensure that there are incentives for being a visionary and taking risks. I think we could drastically reduce inequality and there would still be plenty of incentive for the the naturally talented.

 

[cleetus]

Want to reduce income inequality?

Get a job. Get an education. Win at life.

 

[Deleted member 159002]

Want to reduce income inequality?

Get a job. Get an education. Win at life.

A massive expansion of EITC would help people who have jobs.

 

[ultramanhyata]

Not even Robert Dahl thought everyone should make the same.

Inequality should be allowed to exist to ensure that there are incentives for being a visionary and taking risks. I think we could drastically reduce inequality and there would still be plenty of incentive for the the naturally talented.

This thinking is too nuanced for the Skipper to compute. Please lay it out in black and white, commie/capitalist, slavery/freedom terms.

 

[cleetus]

Disregard...

 

[Deleted member 159002]

What's a EITC?

https://en.m.wikipedia.org/wiki/Earned_income_tax_credit

 

[ripskater]

The only solution is better morality. Legislation can't fix it. It only creates other problems.

 

[mike sherry]

The only, and I mean ONLY, reason income inequality is an issue because of the lopsided political influence you can literally buy in our crony capitalist society

 

[cleetus]

https://en.m.wikipedia.org/wiki/Earned_income_tax_credit

I agree with that. BUT I also believe that skilled work should result in higher wages. What is being proposed by the left just lessens the value of education, work skills, and the currency itself.

 

[Deleted member 159002]

I agree with that. BUT I also believe that skilled work should result in higher wages. What is being proposed by the left just lessens the value of education, work skills, and the currency itself.

What about making EITC for every worker, and pay each worker the same amount regardless of their income (possibly with exceptions for millionaires and billionaires)?

 

[JDragon]

There is no issue with income and wealth inequality per se. However, the issue is that it is not getting better or remaining stable but worse worldwide and in Western societies. In other words, our societies will be even considerably more unequal in 10 years from now than today.

Unfortunately, I do not see a real solution. Any attempt at redistribution is doomed to fail in today's world as the rich are elusive and will protect their wealth (as the Panama Papers have once again shown). Also, fears of losing international competitiveness will make sure there are no real taxing attempts that tax the rich.

In other words, I do simply not believe it is going to get better. Not at all. Inequality will only be considerably reduced by severe systemic shocks IMO. War, crisis, revolution. That is all stuff we probably won't want to see. As long as technological development keeps up and we are able to improve quality of living despite shrinking actual wealth, it may not be such a big issue.

 

[spamking]

income inequality is not an issue
there is no reason we should all make the same

business owners take risks employees don't
not all employees are equal
not all jobs should be compensated the same

/thread

I agree that business owners take an increased risk and are due the lion's share of profits. I don't think that's what this is about though.

I also agree that all employees are not created equal. Some have more experience or better credentials. However, where jobs are equal, pay should be equal. Only difference should be increased pay for seniority or credentials.

 

[Islam Imamate]

The only solution is better morality. Legislation can't fix it. It only creates other problems.

I wouldn't say that legislation can't help at all but I do think your point about morality is valid to an extent. The Panama Papers reminds me of a quote of Hernan Cortez, the great Spanish conquistador

We Spaniards know a sickness of the heart that only gold can cure.

This sickness of the heart is something I believe our very culture, one that has been globalized in the last century, infects us with. I don't accept that this sickness is something we must have to inspire innovation and risk taking and creativity.

 

[cleetus]

What about making EITC for every worker, and pay each worker the same amount regardless of their income (possibly with exceptions for millionaires and billionaires)?

I don't have any problem with tax credits. What I don't like is the arbitrary line that says because I make 100k, my kids don't count, but if I made 99,999 then it's discount-city.

 

[cleetus]

I agree that business owners take an increased risk and are due the lion's share of profits. I don't think that's what this is about though.

I also agree that all employees are not created equal. Some have more experience or better credentials. However, where jobs are equal, pay should be equal. Only difference should be increased pay for seniority or credentials.

The push nowadays is that burger flippers believe they are equal to skilled workers. THAT'S where the problem is. If you want skilled worker pay, become a skilled worker.

 

[spamking]

The push nowadays is that burger flippers believe they are equal to skilled workers. THAT'S where the problem is. If you want skilled worker pay, become a skilled worker.

Which is why I said where jobs are equal . . . of course a degreed/credentialed specialist should be paid more than the guy taking orders at Carl's Jr.

 

[Makani]

The business owners that shills like Skip like to mention are some of those who suffer most from income inequality. A small business owner cannot compete with an operation like Wal-Mart that relies so heavily on subsidized wages and basement prices. They suck the money out of a town and then if profits get too low it's sayonara.

It's on the people too, most people either don't understand or don't think they can change anything, and they're probably right. In the old days it would probably be time for guillotines and a soft reset, but there's too much hidden treasure and too much firepower protecting the rich. Oh well, I'll live a semi-comfortable life and hopefully die before the real bad stuff starts.

 

[ripskater]

I wouldn't say that legislation can't help at all but I do think your point about morality is valid to an extent. The Panama Papers reminds me of a quote of Hernan Cortez, the great Spanish conquistador

This sickness of the heart is something I believe our very culture, one that has been globalized in the last century, infects us with. I don't accept that this sickness is something we must have to inspire innovation and risk taking and creativity.

That's a great quote.