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You can't print money and not expect it to lose its value do you ?
You can theorize all you want but reality is the final judge. We have simply not experienced what your theory suggests. You then have to choices, change your model or believe something is happening when it isn't.
Minus the semantics, I'd say income inequality exists. However, working/middle class homeowners' gave back their trickled down wealth by spending their equity & squandering their standardized TAX CUTS via frivolous spending.
Minus the semantics, I'd say income inequality exists. However, working/middle class homeowners' gave back their trickled down wealth by spending their equity & squandering their standardized TAX CUTS via frivolous spending.
Income inequality over the last 30 years is responsible for why the middle class needed to borrow on their home's equity in the first place.
Open your eyes. Central bank money printing is the cause, ending the Fed would be the first step in stopping this income inequality.
Sorry, that's just ridiculous. To prove it's ridiculous, please note the Fred tripled the money supply at the start of the Great Recession but income inequality has been growing since the 1970s. Moreover, income inequality hasn't tripled in 5 years.
What drives inequality is low rates on capital gains and dividends, the income that the very wealthy derive most of their income.
What drives inequality is low rates on capital gains and dividends, the income that the very wealthy derive most of their income.
Is that all? Tens of millions of unskilled and low skilled workers brought into the country since the 70s, both legally and illegally has nothing to do with driving down the wages and income of the poor and working class and putting more of the wealth in the hands of a few?
Sorry, that's just ridiculous. To prove it's ridiculous, please note the Fred tripled the money supply at the start of the Great Recession but income inequality has been growing since the 1970s. Moreover, income inequality hasn't tripled in 5 years.
What drives inequality is low rates on capital gains and dividends, the income that the very wealthy derive most of their income.
The wealthy deserve more of their income just like we do. The only people I am against are the nonproductive parasites, both welfare queens and the billionaires. Anyone who invests money in technology or production deserves a return, in my opinion tax free. Oh and if I had my way there would be no income tax on labor either. I would support a 50% or higher tax on speculative investments and high trade tariffs but I believe that anyone who invests in capital to build a business deserves tax free income. The Fed has been around since 1914, BTW
Is that all? Tens of millions of unskilled and low skilled workers brought into the country since the 70s, both legally and illegally has nothing to do with driving down the wages and income of the poor and working class and putting more of the wealth in the hands of a few?
No, that's not all. Anti-unionism and reduction in education also adds contribute.
I admire your ability of denial -- the ability to deny that income inequality exists in the face of a mountain of scholarly evidence that it does.
There is no "scholarly evidence."
"Income Inequality" is Orwellian and as absurd as "Income Equality."
The Laws of Economics are what they are, like or not, and if you don't like it, then try to seek out a universe where the Laws of Economics do not apply.
Aside from that, I'm amused at your inability to mount any factual refutation.
Ably...
Mircea
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