Income Inequality in America

NO I WILL NOT please do these things. I've already shown what needs to be shown, and I don't succumb to discussion with people who are dishonest and play loose with the facts (which you've ALREADY GOT)

 

Just be patient everybody... Right wing trickle down economics will happen any Decade now.. seriously.. any decade. Just be patient.

 

I believe our elected representatives are overly fond of micromanaging our economy instead of merely being faithful to our own laws regarding employment at will.

 

Half of the people don't pay income tax now. I don't believe they should. In addition they should not pay sales tax either. That 50% should not have to. Those of us who make the top 50% make enough to take care of all the taxes.

I believe that BS about "fair tax" in which everyone pays the same % is just that, BS. I see nothing wrong with the top 50% paying it because we can afford it compared to those who make less.

That is my opinion. Just like I believe LVT is BS.

 

Only the right doesn't believe the wealthiest should pay that much in taxes, simply because they are worth it under our form of Capitalism.

 

Does everyone taxed at your level make that amount year after year?

How high do you think your top rate should be? 80% 90% ?

 

I don't believe the LVT will do as much as half of what you say it will do. I believe that Rothbard is absolutely correct. I believe what I said in the other thread. I don't accept, and will not accept that land ownership is wrong. I don't believe land owners are being enriched at everyone else's expense. Some may have many years ago but the days of the land baron have come and gone. And as far as I am concerned I don't care if you like that attitude at all. PERIOD!

 

That isnt true at all. Why do all that work and investing and testing and taking all that risk if the first time you get it right someone else can copy it?

Can you name one single technological leader without strong IP laws?

Would you spend a few years inventing something I can make and sell? Would you invest millions to creating something I have evey right to produce and sell as you do?

Finally, list your top 3 favorite inventions not protected by IP law in the last 150 years. The inventors surely sought out the protections, are there wishes meaningless to you just because you want their work for free?

 

Risk is not irrelevant. If it was, no one would venture out and start a business. Owning land and renting it out is NOT RENT SEEKING. We have gone over that before. Rent seeking is getting freebees from the government. Most landowners pay taxes, property taxes on there land and the improvements and get nothing in return. Some states try to lure business by giving them the use of land free such that the people in that state get jobs and pay taxes. That is a legitimate option; a lot better than penalizing someone for buying land and choosing to go fallow for a while before using it. When Georgists call land owners cheats or thieves they are being arbitrarily insulting for no reason.

 

You have to post data when you claim something as fact, otherwise you have to call it opinion. New rules, and I call your numbers out. Post them or admit you are just reason some socialist blogs (mother jones) and repeating their opinions and you don't have the numbers to back up the statement.

Big revenue growth:

http://upload.wikimedia.org/wikipedia/commons/a/a4/Budget_Deficit_1971_to_2001.png

Even after the currency fix, the GDP growth couldn't help hitting those high numbers again in short time. Numbers Obama dreams about.



Year Gross domestic product, constant prices
1980 -0.275- carter recession
1981 2.539 - carter recession
1982 -1.942 - the Volker fix.
1983 4.518 - big growth!
1984 7.187
1985 4.137
1986 3.465
1987 3.2
1988 4.11
1989 3.573
1990 1.876
1991 -0.233
1992 3.393
1993 2.852
1994 4.074
1995 2.514
1996 3.741
1997 4.457
1998 4.355
1999 4.826
2000 4.139
2001 1.079
2002 1.814
2003 2.541
2004 3.468
2005 3.07
2006 2.658
2007 1.913
2008 -0.337
2009 -3.486
2010 3.03

Poverty stopped pretty fast too:
http://www.census.gov/hhes/www/income/data/historical/household/2011/H02AR_2011.xls


And personal median income went up and took off on an upward trend:

2nd number in that is inflation adjusted.

See how all your facts are wrong now, and why I repeatedly asked you to post the numbers?

 

Copyrights and patents are not government created wealth. That is hogwash!

 

In Classic Liberalism land ownership is a protected right and I accept that and do not want to change in favor of some kerflooey LVT.

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Are you trying to say that the way to create economic growth is to increase taxes? Rather than we had economic growth occurred inspite of the high taxes?

 

I really don't care if you believe that government spending increases land rents. Economic growth is what I believe increases land rent, not the government spending. We all pay taxes for infrastructure. And we all get advantage from improved infrastructure, not just land owners and the LVT will not make that issue better.

 

Risk is a function of most investments and the rule tends to be the greater the risk factor the greater the return. There would be no economic progress without risk.

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It is very important that development rights are protected with patents and copy rights such that the developer is paid for his work.

 

So copyrights and patents are found in nature, and lovingly harvested.....

 

Settling justified ownership.

But they settled it or bought it.

Most land owners don't get wealthy and they deserve the rent they receive.

 

So you approve of a strong government presence in the marketplace, telling what they can sell and what they cannot sell?

 

I agree with you on this Daniel.

 

If I remember right, I think the inflation adjusted income for $400K in 1953 is now $3.5 million. All personal income over than amount should be taxes between 70% and 90%.

BTW, I also believe corporate taxtion (business tax) should be eliminated in favor of income taxes those who earn the individual income.

 

So I guess you are yet another Socialist.

 

BS goober. Intellectual property and invention development property are created and should be protected for he who develops it. Your snide remark is noted.

 

For pointing out the truth? Jesus you people are daft. You know, there is a huge correlation with stagnating wages and a decline in union membership...

 

I believe that is one of the functions of government, TO PROTECT PRIVATE PROPERTY, AND I STRONGLY BELIEVE IN PRIVATE PROPERTY.

 

Especially in "private property" created by the government out of thin air.

 

Well without the business tax it becomes far more reasonable but the effective tax rate back then was far less and money is more mobile today then 70 years ago. (Also no WW2 to justify it)

Would you reinstate the old loopholes? What would keep money from running overseas, the low business tax?