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Very Hot Topic (More than 25 Replies) Income Inequality (Read 1681 times)
RubyHypatia
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Income Inequality
Feb 25th, 2018 at 10:18pm
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Facebook co-founder Chris Hughes wants the government to give each household that makes less than $50,000 a year $500 per month, paid for by the 1 percent.  What would such a massive redistribution of wealth do?  What effect would it have on the economy?
  
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The Opposition
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Re: Income Inequality
Reply #1 - Feb 25th, 2018 at 10:22pm
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Welcome back!!!

You were always one of the better posters.

Well, for starters, prices for many goods would rise. Right now, the lowest income brackets are struggling to afford certain things. Give them extra money, and the prices of those things would rise, because the act of redistribution does not put more supply into the economy - no more goods are being created - but it does put more demand into the economy.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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SkyChief
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Re: Income Inequality
Reply #2 - Feb 26th, 2018 at 12:12am
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RubyHypatia wrote on Feb 25th, 2018 at 10:18pm:
Facebook co-founder Chris Hughes wants the government to give each household that makes less than $50,000 a year $500 per month, paid for by the 1 percent.  What would such a massive redistribution of wealth do?  What effect would it have on the economy?


A similar wealth-distribution scheme has been going on for a while in Europe. Unconditional Basi Income, it's called.. They get a little more than $500  - €560 which is around $690.  As expected, the UBI recipients are very happy with it. 

And predictably, the ones who have to pay for it aren't nearly as enthusiastic.  In fact, some of them are hopping mad. 

Which is completely understandable.  Who wants the government to claim a portion of their wealth?  I certainly don't. I work hard for my earnings.  Why should I be forced to share it with some deadbeat who's too lazy to work?
  
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Jeff
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Re: Income Inequality
Reply #3 - Feb 26th, 2018 at 7:14am
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RubyHypatia wrote on Feb 25th, 2018 at 10:18pm:
Facebook co-founder Chris Hughes wants the government to give each household that makes less than $50,000 a year $500 per month, paid for by the 1 percent.  What would such a massive redistribution of wealth do?  What effect would it have on the economy?
Did he do the math? How much money is he talking about redistributing each year, and how much will each of the 1% have to pay, on top of what they pay now that is?

Is he not aware that being rich gives people great leeway in avoiding taxes?
  
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kaz
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Re: Income Inequality
Reply #4 - Feb 26th, 2018 at 9:03am
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SkyChief wrote on Feb 26th, 2018 at 12:12am:
A similar wealth-distribution scheme has been going on for a while in Europe. Unconditional Basi Income, it's called.. They get a little more than $500  - €560 which is around $690.  As expected, the UBI recipients are very happy with it. 

And predictably, the ones who have to pay for it aren't nearly as enthusiastic.  In fact, some of them are hopping mad. 

Which is completely understandable.  Who wants the government to claim a portion of their wealth?  I certainly don't. I work hard for my earnings.  Why should I be forced to share it with some deadbeat who's too lazy to work? 


One thing in Europe though is everyone pays taxes.  Here less than half of the country pay ANY taxes.  The one percent in 2014 paid 46% of all taxes.  That number has been going up, I've seen projections that it's almost 60% now. That's why the wealth envy and greed is so much higher here.  People getting checks feel none of the cost at all, just gimme, gimme, gimme
  

Greg Gutfeld - I became a conservative by being around liberals and I became a libertarian by being around conservatives

Matt Stone - I hate conservatives, but I really f'ing hate liberals
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SkyChief
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Re: Income Inequality
Reply #5 - Feb 26th, 2018 at 12:16pm
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kaz wrote on Feb 26th, 2018 at 9:03am:
One thing in Europe though is everyone pays taxes.  Here less than half of the country pay ANY taxes.

You have piqued my interest.

I'd really like to be in the group who don't pay any taxes.  How do I enroll in this plan?
  
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kaz
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Re: Income Inequality
Reply #6 - Feb 26th, 2018 at 12:37pm
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SkyChief wrote on Feb 26th, 2018 at 12:16pm:
You have piqued my interest.

I'd really like to be in the group who don't pay any taxes.  How do I enroll in this plan?


Be a leach rather than a productive member of society
  

Greg Gutfeld - I became a conservative by being around liberals and I became a libertarian by being around conservatives

Matt Stone - I hate conservatives, but I really f'ing hate liberals
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SkyChief
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Re: Income Inequality
Reply #7 - Feb 26th, 2018 at 12:42pm
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kaz wrote on Feb 26th, 2018 at 12:37pm:
Be a leach rather than a productive member of society

There's no honor in that.  I guess I'll just go on paying Taxes...    *sigh*
  
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Don_G
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Re: Income Inequality
Reply #8 - Feb 26th, 2018 at 12:42pm
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RubyHypatia wrote on Feb 25th, 2018 at 10:18pm:
Facebook co-founder Chris Hughes wants the government to give each household that makes less than $50,000 a year $500 per month, paid for by the 1 percent.  What would such a massive redistribution of wealth do?  What effect would it have on the economy?


Good discussion to start Ruby!

Jeff made a comment that is the only one to address the issue correctly:

Quote:
Is he not aware that being rich gives people great leeway in avoiding taxes?


It could have been sarcasm or it could be mistated but it's still true.

Wealth has already been redistributed to the most wealthy in the US, which makes any later attempts such as this, nothing more than attempts at bringing back some badly needed balance.

The the pig (kaz) claims on who pays the taxes is a familiar dodge to get away from the actual truth. Claiming that corps pay something like 20% tax isn't realistic because it's not the effective tax rate.

To begin a real discussioin, take off-shore accounts and invertments as an example. And there are dozens more.

Poor Americans such as those who post on this forum are patsies who have been coerced into supporting the outrageous income inequality. It's a real mystery how the refuse to see the light. Are you just another one of them?
  
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kaz
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Re: Income Inequality
Reply #9 - Feb 26th, 2018 at 12:47pm
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SkyChief wrote on Feb 26th, 2018 at 12:42pm:
There's no honor in that.  I guess I'll just go on paying Taxes...    *sigh*


Yes.  I'm afraid not being useless is a disease you can't get rid of so easily
  

Greg Gutfeld - I became a conservative by being around liberals and I became a libertarian by being around conservatives

Matt Stone - I hate conservatives, but I really f'ing hate liberals
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