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 12-22-2011, 07:32 AM
 
1,736 posts, read 1,753,831 times
Reputation: 1135

Advertisements

Income inequality, like unemployment, is part of a functioning economy.

And like unemployment, it only becomes a problem if it gets too large.

We know that trying to equalize wages totally doesn't work. the Soviet Union and old Eastern Europe illustrated that. We also know that a system at the other extreme, where a very small number of people or families hold almost all the wealth, doesn't do very well either. Lots of African and Latin American examples of that through the last 50 years.

Obviously, there is a "Goldilocks zone" somewhere between the extremes. The question is where it lies. List of countries by income equality
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-22-2011, 07:32 AM
 
4,255 posts, read 3,335,680 times
Reputation: 991
Quote:
Originally Posted by GregW View Post
My problen is with the guy that owns the factory and lives off the profit created by your brother and cousin without having to actually do anything.

Then his brother or cousin could start their own factory and do the same.

Why do you think the employee should make what the business owner makes?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:32 AM
 
Location: Texas
14,967 posts, read 15,700,882 times
Reputation: 4583
Quote:
Originally Posted by waterboy7375 View Post
I dont have a problem with it. When one spends time and money etting an education or building a business they should make more money. But make it without gvmt subsidies or involvment.
I agree with this generally, though I feel that government should fund education (but they need to do it in a smarter way than they do today). I think equal opportunity makes income inequality fair.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:33 AM
 
4,255 posts, read 3,335,680 times
Reputation: 991
Quote:
Originally Posted by afoigrokerkok View Post
I agree with this generally, though I feel that government should fund education. I think equal opportunity makes income inequality fair.

I dont have a problem with the education part. I have a big problem when the gvmt decides what bus needs to be propped up with fed money and what ones stand on their own.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:34 AM
 
Location: Central Texas
13,719 posts, read 29,183,023 times
Reputation: 9259
Quote:
Originally Posted by GregW View Post
My problen is with the guy that owns the factory and lives off the profit created by your brother and cousin without having to actually do anything.
The owner of the factory doesn't do anything?

You mean running the payroll, marketing the company to keep it vital and alive, dealing with regulations, paying insurance, safety inspections, leading the key people in the company that run each department, firing bad employees, hiring good ones, paying taxes, etc is doing nothing?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:36 AM
 
52,769 posts, read 22,596,236 times
Reputation: 12699
Quote:
Originally Posted by GregW View Post
My problen is with the guy that owns the factory and lives off the profit created by your brother and cousin without having to actually do anything.
That's a very big assumption on your part.

Do you think he just snapped his fingers and the plant with the work they do and all the employees just appeared? Really!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:36 AM
 
Location: Texas
14,967 posts, read 15,700,882 times
Reputation: 4583
Quote:
Originally Posted by waterboy7375 View Post
I dont have a problem with the education part. I have a big problem when the gvmt decides what bus needs to be propped up with fed money and what ones stand on their own.
Or what businesses need special loopholes in the tax codes or special exemptions in regulations.

I'm for drastically reduced taxes and drastically reduced regulations, but I have an even bigger problem with special loopholes that cause certain businesses to have an unfair advantage and other ones (mainly small businesses...and small business owners are the biggest job creators in this country) to be unable to compete fairly. The free market has to be fair to work.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:37 AM
 
3,457 posts, read 3,471,482 times
Reputation: 1544
Quote:
Originally Posted by Workaholic? View Post
Rick Santorum said this in Iowa and got lots of people angry: "I’m for income inequality. I think some people should make more than other people, because some people work harder and have better ideas and take more risk, and they should be rewarded for it. I have no problem with income inequality."

What do you think? Is he right that a logical person should believe that some people should make significantly more money than others based on how society views their contribution. Should an Accountant sitting in a comfortable office make twice what someone working road construction in the rain, heat and wind makes? Many people think the road construction worker should make more money because he is working harder than the Accountant.

So... what do you think? Do you believe in income inequality?
I believe that the severity of wealth inequality is rather great. Income inequality follows wealth inequality, but the severe problems have to do with wealth and not income.

However, my beef has more to do with how that happened, not just the fact that it happened. If I felt bankers and the financial elite had actually earned that wealth, then it wouldn't be a big deal.

However, the combination of
a. Fractional Reserve banking
b. Lack of accounting standards
c. Bailouts
d. Tax preferences
e. Regulatory capture
f. Lack of leverage constraints

has given me the impression that many, many of these folks didn't earn a damn thing. I, too, could be a billionaire, if I could just had a bank charter and could borrow billions and trillions from the Fed at obscenely low rates.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:37 AM
 
4,255 posts, read 3,335,680 times
Reputation: 991
Quote:
Originally Posted by hoffdano View Post
The owner of the factory doesn't do anything?

You mean running the payroll, marketing the company to keep it vital and alive, dealing with regulations, paying insurance, safety inspections, leading the key people in the company that run each department, firing bad employees, hiring good ones, paying taxes, etc is doing nothing?

Fairly obvious who has run a buss and who hasnt when reading responses.
Reminds me of an ex employee I had that complained I made more then him.
At 4:30 he was sucking down his first of his daily 20 beers. My work day was only 1/2 over.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 07:37 AM
 
20,950 posts, read 18,252,014 times
Reputation: 10270
Quote:
Originally Posted by GregW View Post
My problen is with the guy that owns the factory and lives off the profit created by your brother and cousin without having to actually do anything.
The owners are hands on.

They employ about 700 men and women.

Without their talent for running a business (another skill level) and risk, these jobs wouldn't be there.

Why do you have a problem with people reaping rewards and profits from their ability?
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. The time now is 05:32 AM.

© 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