U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-20-2011, 10:42 AM
 
7,338 posts, read 10,517,676 times
Reputation: 3477

Advertisements

I keep hearing about income inequality but my question is what is the best solution to this? I thought this economist gave some interesting insights on this topic.



Quote:

What can government do to reduce inequality?

In the long run, redistribution doesn't work. Focusing on improving the quality of the workforce -- through education and skill building -- is probably the only answer.

While unemployment benefits have been extended this year, you've argued that our limited safety net may be exacerbating the political desire for quick fixes.

When you have a very thin safety net, losing your job means you lose health care and your unemployment benefits run out quickly. There are benefits to a thin safety net. Those who lose their jobs have a strong incentive to look for one.

The question is, is it better to focus on strengthening the safety net? If you do, you could actually have less pressure on policymakers to pull rabbits out of the hat by trying to create jobs where there are none...

Raghuram Rajan says income inequality will hinder growth - Nov. 24, 2010


Rate this post positively Reply With Quote Quick reply to this message

 
Old 10-20-2011, 10:45 AM
 
Location: By the sea, by the sea, by the beautiful sea
67,112 posts, read 49,913,812 times
Reputation: 37696
Maybe it's not the income inequality creating problems, maybe it's the outgo inequality (tax loopholes/cuts for the wealthy, etc.) that creates problems?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:47 AM
 
13,180 posts, read 14,317,200 times
Reputation: 4547
"Redistrubution doesn't work."

Denmark

Highest taxes in the World.
Biggest goverment in relation to GDP in the World
Has one of the most progressive tax system in the World
Has one of the smallest gaps between rich and poor in the World

Also the happiest country in the World
One of the least corrupt countries in the World
A higher standard of living than the USA
Most press freedoms in the World
Most educated, universal health care, wonderful vacation/retirement benefits.

"Redistribution doesn't work"......LOL

How long are white middle class voters going to fall for this right wing propaganda that income inequality is a good thing?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:48 AM
 
Location: Syracuse, New York
3,118 posts, read 2,887,915 times
Reputation: 2289
Eliminate the mortgage deduction. This will cause the rich to intermingle more with the poor and middle-class.

Can't get trickled-down upon if you're nowhere near the rain!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:48 AM
 
1,432 posts, read 1,034,229 times
Reputation: 333
The best solution is to focus on job creation and for people to realize that over time, in a global economy that they have to pick their trade wisely. I don't think that foucsing just on income inequality will help...there is plenty of dollars to go around, there is more of mismatch in skills to jobs, too much Govt. regulation, to litle consumer confidence, and competitors in many areas outside the US...So focus on acquiring a skill that is less likely to be outsourced..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:49 AM
 
1,432 posts, read 1,034,229 times
Reputation: 333
Quote:
Originally Posted by padcrasher View Post
"Redistrubution doesn't work."

Denmark

Highest taxes in the World.
Biggest goverment in relation to GDP in the World
Has one of the most progressive tax system in the World
Has one of the smallest gaps between rich and poor in the World

Also the happiest country in the World
One of the least corrupt countries in the World
A higher standard of living than the USA
Most press freedoms in the World
Most educated, universal health care, wonderful vacation/retirement benefits.

"Redistribution doesn't work"......LOL
Feel free to move there...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:50 AM
 
6,137 posts, read 4,648,163 times
Reputation: 1515
Quote:
Originally Posted by padcrasher View Post
"Redistrubution doesn't work."
Great case. You have just proven that the reason Denmark (a country with slightly more than half of the population of New York City) is so great is because of wealth redistribution. Just brilliant.


Quote:
Originally Posted by Secchamps98 View Post
Feel free to move there...
Nah, that won't work. We have to force America, a country approximately 55x times the size of Denmark, to work the same way. Don't worry about the vast differences in demographics, education, and all that other stuff. It'll be fine.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:52 AM
 
13,180 posts, read 14,317,200 times
Reputation: 4547
Quote:
Originally Posted by Secchamps98 View Post
Feel free to move there...
I would love to but you need a visa that costs about 1 Million Dollars. Believe me, I've looked into it.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:53 AM
 
Location: Syracuse, New York
3,118 posts, read 2,887,915 times
Reputation: 2289
All strip clubs should be de-regulated to the point where booze, contact and full nudity would be encouraged.

Drunk, rich men grinding it against hot, working class girls is a time-tested bridge between the income gap.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-20-2011, 10:54 AM
 
12,436 posts, read 11,390,224 times
Reputation: 3157
Quote:
Originally Posted by Motion View Post
I keep hearing about income inequality but my question is what is the best solution to this? I thought this economist gave some interesting insights on this topic.
More austrian economics. He is advocating removing all safety nets so people will just hold on a little tighter...so what happens when they actually fall...Too bad I guess.

In reality he is calling for greater productivity (hold on tighter) for workers. How has that worked so far.

As you can see from the chart below, although productivity has gone up because hourly wages have stayed the same. I think the graph shows that Austrian economics is not going to end the income disparity.

Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top