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Income Inequality Questions
invite response
2013 Sep 24, 2:28am 56,987 views 226 comments
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He's what keeps America great.
He's also likely to love guns, HATE fags, and consider himself a good and spiritually enlightened Christian.
What else can be done?
Apparently not a fucking thing.
"The World's Billionaires Have Doubled Their Wealth Since 2009"
"There are more billionaires today than there were during the global financial crisis in 2008 and 2009 -- and they're twice as rich, says a new report released Wednesday."
Is it only through taxing the wealthy that we can achieve a more stable distribution of income and wealth?
http://www.youtube.com/embed/rc-bELgAowU
Higher tax rates (symbolism) or higher tax revenue (substance)?
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http://www.nytimes.com/2006/07/09/washington/09econ.html?pagewanted=print&_r=0
July 9, 2006
Surprising Jump in Tax Revenues Is Curbing Deficit
By EDMUND L. ANDREWS
WASHINGTON, July 8 — An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.
On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. The rising tide in tax payments has been building for months, but the increased scale is surprising even seasoned budget analysts and making it easier for both the administration and Congress to finesse the big run-up in spending over the past year.
Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.
The main reason is a big spike in corporate tax receipts, which have nearly tripled since 2003, as well as what appears to be a big increase in individual taxes on stock market profits and executive bonuses
indigenous
2013 Nov 9, 1:12am
I like the quote from Keynes paraphrasing: it is possible to raise the taxes so high that they will defeat their own purpose.
No economist has ever uttered the phrase "trickle down theory"
Hard to beat the logic of the Sowell man.
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It seems apparent to me that income inequality drags our economy down and limits its potential. If consumers, even while working two jobs and having more than one wage earner in the household, can't afford basic goods and services, then every entity in the US suffers.
That said, how can it be rectified? How are wages set in a capitalist society? Is it only through taxing the wealthy that we can achieve a more stable distribution of income and wealth?
What else can be done?