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Liberty News ForumLNF Forums HerePolitical Opinion Page - The Hot Seat › Putting Income Inequality in Perspective
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Very Hot Topic (More than 25 Replies) Putting Income Inequality in Perspective (Read 6,993 times)
ShunningHarrietsShun LOL
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Re: Putting Income Inequality in Perspective
Reply #10 - Nov 14th, 2015 at 11:10am
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Lomelis wrote on Nov 14th, 2015 at 10:51am:
Did it sail over your head that his op was talking about global poverty, not poverty focused on the US? 


Irrelevant.  Nothing there disputes anything discussed in the op.


LOL, thank you for my morning laugh. First you stupidly make a claim about how I ignored the global aspect of TL's bull shit, and then you say that the global aspect is "irrelevant".

Try actually watching some of the videos presented.
  
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TowardLiberty
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Re: Putting Income Inequality in Perspective
Reply #11 - Nov 14th, 2015 at 11:11am
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More of your fantasy world. 50, 100, 200, years ago the wealthy in the US paid from a 70% tax rate to all taxes paid. And it was not global trade that increased the wealth of the nation. It was the hard work of individuals. Globalism has increased the poverty in the US:

http://www.globalpost.com/special-reports/global-income-inequality-great-divide-...

The Great Divide: Global income inequality and its cost

Income inequality is surging, and there are few countries where it is rising faster than the United States. The distance between rich and poor is greater in America than nearly all other developed countries, making the US a leader in a trend that economists warn has dire consequences. This is a reporting journey to get at the ‘ground truth’ of inequality through the lenses of education, race, immigration, health care, government, labor and natural resources. The hope is to hold a mirror up to the US to see how it compares to countries around the world. Presented by The GroundTruth Project and produced with support from the Ford Foundation.

http://www.pewresearch.org/fact-tank/2013/12/19/global-inequality-how-the-u-s-co...


This will blow your mind: increasing income inequality is not inconsistent with reductions in poverty.

The rich are getting richer, yes, but the poor are getting richer too, just not at the same rate.

Further, people move in and out of the 1% income level. It's not a static thing.
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Re: Putting Income Inequality in Perspective
Reply #12 - Nov 14th, 2015 at 11:19am
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Clyde Redux wrote on Nov 14th, 2015 at 10:50am:
When the focus of capitalism was the enrichment of the working,
middle classes, then almost everyone prospered.


So let's say we agree on the goal we seek- a capitalism that is not rigged to favor the rich. Where we disagree is on the means. And that I suspect  is owing to our profound disagreement as it concerns causes.
Quote:
Once the top 1%
became too greedy (again), and began to buy back the government
and then de-regulate themselves and the marketplace, the end was near.

Regulated capitalism is fine. Unfettered, it is a disaster.

What you suggest here, to me, is exactly the reverse of what has happened, and with what is wrong.

The idea that we have unregulated capitalism is straight up wrong.

Every major industry is cartelized by the big players. Perhaps aspects of the financial system of become de-regulated (derivates and shadow banking) but it is only de-regulated in the context of a cartelized market.

The structure of our money and banking system, and the financial economy built on top of it, cannot be said to be de-regulated.

And that doesn't even touch on the vast number of regulations applying in other realms, such as subsidies, intellectual property laws, and so on, with new laws every day.

  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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Lomelis
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Re: Putting Income Inequality in Perspective
Reply #13 - Nov 14th, 2015 at 11:23am
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LOL, thank you for my morning laugh. First you stupidly make a claim about how I ignored the global aspect of TL's bull shit, and then you say that the global aspect is "irrelevant".

Try actually watching some of the videos presented.


You did ignore it.  TL provided an article that was specifically about global income inequality and how it was decreasing globally.  You responded with a focus specifically on US income inequality as if the US represented the whole world.

The second part of your article once again focuses on US income inequality and thus is irrelevant.
  

Ignorant Blessings from Wads:

Wadsworth wrote on Feb 19th, 2019 at 9:18am:
Regulations are designed to protect the consumer and the worker.  If it doesn’t,it is not a regulation.



"Watched it.  A shotgun is for long ranged shooting.  That is why hunters like them.  An AR-15 is not.  That video was misleading.
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ShunningHarrietsShun LOL
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Re: Putting Income Inequality in Perspective
Reply #14 - Nov 14th, 2015 at 11:25am
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Capitalism is a derogatory term coined by Karl Marx. The free market has no focus.



While Marx did use "capitalism", and "capitalist", in a derogatory manner, the words did not originate with him. The Oxford English Dictionary states its first use was found in a novel by William Makepeace Thackeray, "The Newcomes".

The word "capitalist" was first used in 1792 by Arthur Young in "Travels in France", and by Turgot in his "Reflections on the Formation and the Distribution of Riches" in 1770.
  
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Clyde Redux
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Re: Putting Income Inequality in Perspective
Reply #15 - Nov 14th, 2015 at 11:35am
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Lomelis wrote on Nov 14th, 2015 at 11:07am:
Lol.  These aren't laws being passed deregulating anything.  Like I said, thousands of -new- regulations every year.


Then you are either blissfully uninformed or misinformed,
which is surprising as you impressed me as someone who
was at least trying to do the work. If you will, please read
the following and then tell me there is no de-regulation at
the bottom of the pit which is this latest financial crisis.
The crisis is/was calculated and contrived. It is deliberate.
It is/was well thought out and planned in advance. Much,
if not all, of the de-regulation was done for that purpose.

Little, if any, of this is accidental.

http://www.cepr.net/documents/publications/dereg-timeline-2009-07.pdf
  

Long live rcclydeinside.
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Clyde Redux
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Re: Putting Income Inequality in Perspective
Reply #16 - Nov 14th, 2015 at 11:43am
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TowardLiberty wrote on Nov 14th, 2015 at 11:19am:
So let's say we agree on the goal we seek- a capitalism that is not rigged to favor the rich. Where we disagree is on the 

means. And that I suspect  is owing to our profound disagreement as it concerns causes.
What you suggest here, to me, is exactly the reverse of what has happened, and with what is wrong.

The idea that we have unregulated capitalism is straight up wrong.

Every major industry is cartelized by the big players. Perhaps aspects of the financial system of become de-regulated (derivates and shadow banking) but it is only de-regulated in the context of a cartelized market.

The structure of our money and banking system, and the financial economy built on top of it, cannot be said to be de-regulated.

And that doesn't even touch on the vast number of regulations applying in other realms, such as subsidies, intellectual property laws, and so on, with new laws every day.


Again, I am not suggesting that the current (post 1970's)
deregulation of laws and rules which protected the working
classes from the predatory capitalists means that those
regulations weren't replaced by new regulations which favor
the predators. We still have rules, but rather than rules which
favor or protect the majority, we increasingly have only rules
and regulations which favor, protect and enrich only the predators.
  

Long live rcclydeinside.
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Shunning Sue Harry
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Re: Putting Income Inequality in Perspective
Reply #17 - Nov 14th, 2015 at 11:54am
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While Marx did use "capitalism", and "capitalist", in a derogatory manner, the words did not originate with him. The Oxford English Dictionary states its first use was found in a novel by William Makepeace Thackeray, "The Newcomes".

The word "capitalist" was first used in 1792 by Arthur Young in "Travels in France", and by Turgot in his "Reflections on the Formation and the Distribution of Riches" in 1770.


Would someone please inform Sue that I'm shunning him? He ought to know according to his username, but his confusion seems to know no bounds.
  
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Clyde Redux
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Re: Putting Income Inequality in Perspective
Reply #18 - Nov 14th, 2015 at 11:57am
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You ignored my second sentence. The free market has no focus. The problem in the free market stems from the restrictions placed on it by our all-knowing government. Restrictions to free trade restrict that trade to those that can afford to overcome the restrictions. This places a burden on small business and favors big business. Big business has the riches to influence government policy. Government feeds those that feed government. It's like a snake swallowing its own tail... a continuous loop.


Despite your erroneous premise, you have managed to come to an acceptable conclusion.
The problem remains, however, that based on your erroneous premise,
you will look for solutions which might not solve the problem as you have defined it.

Human nature being what it is, rules and regulations are required
to prevent those who would lie, cheat, steal or worse from doing so,
or at least prevent them from doing so without some sort of consequence.
That is why we had regulations like Glass-Steagall, and the various
Securities and Exchange Acts. They helped regulate the market place
and protect the sheep from the wolves. That is why GLBA and CFMA
were bad ideas. They repealed key protections and replaced them
with new regulations (Lomelis?) which were deliberately designed
to make it easier for the bankers and investment class to steal everything.
This is not rocket science. It is obvious and easy to follow and understand.

Unless, that is, you have a bias which won't allow it, which I fear may be the case here.
  

Long live rcclydeinside.
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Clyde Redux
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Re: Putting Income Inequality in Perspective
Reply #19 - Nov 14th, 2015 at 11:57am
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Would someone please inform Sue that I'm shunning him? He ought to know according to his username, but his confusion seems to know no bounds.


You are a trip, I'll give you that.
  

Long live rcclydeinside.
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