Inequality Is Ruining Our Country

[bUU]

That begs the question of whether there is injustice to start.

Something which many people have a vested interest in not admitting, perhaps even to themselves.

Unequal outcomes are not always unfair.

Life isn't fair. That doesn't mean it is right to revel in that fact, as you seem to be implying.

Value creation, which is what drives income, is now more a matter of thought than sweat.

The callous disregard for the human aspect of value creation may be an excellent way of explaining the source of the injustice.

And why do you feel such animosity toward people who don't live in your country?

I never said I felt animosity toward such people, but nice attempt at hiding behind a Straw Man. It is instructive though, showing clearly that you don't intend to engage in a discussion with integrity, but rather are looking for whatever means you can come up with to distract attention away from moral perspectives that you don't like.

[Yossarian]

but rather are looking for whatever means you can come up with to distract attention away from moral perspectives that you don't like.

Not distracting from the moral perpective. Here's the moral perspective:





Your story is deficient because it only looks at part of the picture. Overall the changes to the world economy have been great for the working poor.

[freein05]

Our tax code is setup to benefit the top 1%. Why should I as investor only pay a tax rate of 15% on qualified dividends. When I invest in large cap stocks I have no say in the management of the corporation. Many working stiffs pay far more in taxes than I do. My effective tax rate because of tax free bonds and other dodges is only about 8%.

I am not in the 1 % but get many of the benefits they get. Tax the investing class at the same rate as the working class.

[Yossarian]

Our tax code is setup to benefit the top 1%. Why should I as investor only pay a tax rate of 15% on qualified dividends.

Because to be a "qualified dividend" that income was for the most part already subject to tax at 35%, so the total rate is more like 45%, not 15%.

My effective tax rate because of tax free bonds and other dodges is only about 8%.

And you get less of an interest payment on the tax free bonds, in effect transferring income to the government. Can't speak to your other dodges.

[bUU]

Your story is deficient because it only looks at part of the picture. Overall the changes to the world economy have been great for the working poor.

So what you're saying is that global economic equality is being increased at the expense of America's poor.

[melanie]

Wow I found the OP thought provoking and interesting... an important subject to tackle. What an ugly thread it is so far.

Two parts of the problem...well maybe three

Greed, apathy, elitism

I have an idea: lets perform IQ testing and then simply exterminate those that cannot keep up with the changes in workforce demands.

We can also further exploit those in other countries that are far more poor than we are to produce lower priced goods and maintain our lifestyles.... wait.. we're already doing that. Never mind.

[Yossarian]

We can also further exploit those in other countries that are far more poor than we.

Can you explain what "exploit" means in this context?

[razz]

Got to say that I find these threads thought-provoking so thanks for all the viewpoints expressed.

[freein05]

Yossarian if a US corporation pays 35% in federal taxes they need a new CFO. Besides I look at the dividend a corp pays as income. I don't even look at how much it paid in taxes. I look at how much money I get in my pockets. Your argument is often put forth from the right. Those on the right need to look at what corporations actually pay in taxes.

"In an example of corporate welfare at its finest, AT&T effectively paid no federal taxes in 2011. In fact, thanks to lucrative incesntives and corporate subsidies, the telecommunications company walked away with a giant taxpayer-subsidized $420 million refund."


http://stopthecap.com/2012/08/16/at-...idized-refund/

[Yossarian]

Those on the right need to look at what corporations actually pay in taxes.

Oh, I'm pretty much in the middle, but I am familiar with what corporations pay.

It's not helpful to look at any single year or even handful of years. Tax and financial accounting differ and produce significant timing differences.