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And this is why it's important that we care about income inequality, and the nonsense promises that Trump is making to people that he's exploiting (by promising to bring back jobs that don't exist anymore, or are never coming back for many reasons).
Income inequality should be attacked in sensible/rational ways (tax reform, re-education/re-training programs, incentivizing people to re-train over their careers, not in unrealistic ways (i.e. Trump promises)).
When people are younger some don't give a rats ass about equality of hard work, they some how think they'll do fine on minimum wage so they don't put effort into their education. Then when reality hits, they cry the blues and want to stick their hands deeper in the pockets of the smart people who understood if they want a better life they have to work and pay.
What I don't get.......and I'm generalizing and maybe I'm wrong but it seems the very same people complaining about wealth inequality are the same people pushing globalization........
Now I understand that many of them are lying just to get support but.........?
Obama claimed to be against the wealth gap but it grew to record proportions under his administration. He oversaw the largest trickle up economy perhaps ever devised since the days of kings and knights. And he was a globalist. A lot of people supported that but then claim they don't. I don't get it.
To be fair Obama was roasted heavily by the GOP when he let the Bush era tax cuts expire. Then after the GOP gained control of Congress, all tax increases was lost. I wouldn't claim it's his fault.
You can scream, "Universal Basic Income" until you're blue in the face, but it will not happen unless you can find a way to fund it.
Yeah, good point.
Some people just don't understand how the Laws of Economics work.
UBI will first of all replace social security since UBI will involve everyone.
Plus, if we were to grant every single family in this country UBI (113 million families, average size: 2.6 people per household) 20K per year. That'll cost about 2T.
The real cost would be lower since there's various exceptions: single, family with kids, COL, etc...
2T sounds like a lot, until you realize the taxes on the rich has been at a historical low for quite some time now. Back before Reagan, taxes were above 80% versus 39.6 now and capital gains is at 20% for the highest income right now before it was 40%+ . If we were to raise those taxes back to the pre-Reagan era, combined with some shuffling of military expenditures and increases in corporate income taxes and so forth, we'll easily pay for it.
Remember FICA as it is now, requires a 7% tax on the individual and a 7% tax on the employer. All we're doing is raising that and making it more progressive. So that we don't allow big rich corporations to buy politicians like they do now and/or offshore money overseas.
Panera has 6 of them. You can also order on your phone. Who needs people anymore? And, at $15 dollars an hour, employees will be scarce, like water in a ghost town.
Trickle down economics apparently doesn't trickle down as much as theory would indicate. Wages adjusted for inflation since the late 70's are down, the old story of the rich getting richer and the poor getting poorer appears to be true.
If you give the rich tax breaks, apparently they pocket the money or move it offshore or whatever other tricks they can do.
I'm all for capitalism and think in general it's good, but not when the system appears to be rigged toward the uber wealthy.
With Capitalism when a business fails, it fails. If we had allowed the bubble to simply pop and things do as they will we would not have the huge wealth disparity we have right now.
When people are younger some don't give a rats ass about equality of hard work, they some how think they'll do fine on minimum wage so they don't put effort into their education. Then when reality hits, they cry the blues and want to stick their hands deeper in the pockets of the smart people who understood if they want a better life they have to work and pay.
Where are all of these "educated" people going to work? I ask this over and over in thread after thread and I never get an answer.
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