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, 08:31 AM
 
4,255 posts, read 3,335,965 times
Reputation: 991

Advertisements

When the employees make as much as the employers, everyone wants to be an employee and no one wants to be an employer. There go the jobs.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 12-22-2011, 08:34 AM
 
Location: Dallas, TX
31,763 posts, read 27,657,436 times
Reputation: 12317
Quote:
Originally Posted by afoigrokerkok View Post
Why? He did something right to be able to buy the factory or he got lucky and inherited it, meaning a family member of his did something right.
Thomas Paine would be in pain, hearing that. So, a capitalistic society would thrive on greater income inequality. Would it?

Quote:
Originally Posted by waterboy7375 View Post
When the employees make as much as the employers, everyone wants to be an employee and no one wants to be an employer. There go the jobs.
Which must explain why Denmark has an unemployment rate of 4.2 or so.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:40 AM
 
Location: Long Island, NY
19,792 posts, read 13,261,272 times
Reputation: 5661
I think this thread is a false narrative. It's not do you believe in income equality but do you think that there should be wide ranges between rich and poor -- the the vast amount of income concentrated in few hands.

This is where we went, from the robber-barron days to one where the nation that shared income to back to the robber-barron days:



Apologists for this disparity make statements like I've been reading here, that those that make more create or invent something. But the Steve Jobs and Thomas Edison explanation are not the main demography of the top 0.1% that are skewing the income scale. There are few Horatio Alger stories.
Quote:
Who’s in that top 0.1 percent? Are they heroic entrepreneurs creating jobs? No, for the most part, they’re corporate executives. Recent research shows that around 60 percent of the top 0.1 percent either are executives in nonfinancial companies or make their money in finance, i.e., Wall Street broadly defined. Add in lawyers and people in real estate, and we’re talking about more than 70 percent of the lucky one-thousandth. link
The rest mainly are those that inherited great wealth.

Here are a few statistics that should be considered:

Forbes: Six Waltons (WalMart) Have More Wealth Than the Bottom 30 % of Americans

The Top 0.1% Of The Nation Earn Half Of All Capital Gains (and they pay only a 15% tax-rate)

Quote:
The top 400 U.S. individual taxpayers got 1.59% of the nation’s household income in 2007 — 3X the p% they got in the 1990s.

• The top 400 paid 2.05% of all individual income taxes in 2007.

• Only 220 of the top 400 were in the top marginal tax bracket.

• Average tax rate of the 400 = 16.6% — the lowest since the IRS began tracking the 400 in 1992.

• Minimum annual income to make the top 400 = $138.8 million.

• Top 400 reported $137.9 billion in income; they paid $22.9 billion in federal income taxes.

• 81.3% of income was from capital gains, dividends or interest. Salaries and wages? Just 6.5%.

• The top 400 list changes from year to year: 1992-2007, it contained 3,472 different taxpayers (out of a maximum 6400).

Source: The Big Picture
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:42 AM
 
4,255 posts, read 3,335,965 times
Reputation: 991
Quote:
Originally Posted by EinsteinsGhost View Post
Thomas Paine would be in pain, hearing that. So, a capitalistic society would thrive on greater income inequality. Would it?


Which must explain why Denmark has an unemployment rate of 4.2 or so.

So Denmark the employees make as much as the employers? Link please.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:42 AM
 
3,457 posts, read 3,471,734 times
Reputation: 1544
Quote:
Originally Posted by alphamale View Post
Here come the charts!
Since you don't like charts, here is an article for you, explaining in detail:

Wall Street’s Euthanasia of Industry | Michael Hudson


I don't know if it is the sort of talk radio babble you're used to, but I may be able to find a video that fits the standard talk radio attention span.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:47 AM
 
9,856 posts, read 14,645,582 times
Reputation: 5468
Quote:
Originally Posted by waterboy7375 View Post
When the employees make as much as the employers, everyone wants to be an employee and no one wants to be an employer. There go the jobs.
Come on, are you seriously telling me that you wouldn't take the risk of borrowing hundreds of thousands of dollars and potentially setting yourself up to ruin your future by opening a new factory if you will get paid the same as someone who works for you, no matter what?

GregW - you aren't paid more for working harder. You are paid more for adding value and taking on more risk than other people.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:49 AM
 
4,255 posts, read 3,335,965 times
Reputation: 991
Quote:
Originally Posted by hnsq View Post
Come on, are you seriously telling me that you wouldn't take the risk of borrowing hundreds of thousands of dollars and potentially setting yourself up to ruin your future by opening a new factory if you will get paid the same as someone who works for you, no matter what?

GregW - you aren't paid more for working harder. You are paid more for adding value and taking on more risk than other people.

The ghost from TX seems to think otherwise.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:54 AM
 
Location: Here
11,552 posts, read 13,319,593 times
Reputation: 6911
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.
Good grief.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 08:55 AM
 
4,255 posts, read 3,335,965 times
Reputation: 991
Quote:
Originally Posted by 01Snake View Post
Good grief.

These people vote!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 12-22-2011, 09:05 AM
 
Location: Dallas, TX
31,763 posts, read 27,657,436 times
Reputation: 12317
Quote:
Originally Posted by waterboy7375 View Post
So Denmark the employees make as much as the employers? Link please.
The ghost from TX would like to tell the waterboy from nowhere that Denmark's economy thrives on small business. That the country is among the leaders in the world with minimum income inequality should tell you that it ain't a land of extremes. That employees are able to cover their rear due to high salaries and policies designed to insulate BOTH employers and employees from each other.
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 03:14 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