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Thread: Interesting video about income distribution in America today

  1. #1 Interesting video about income distribution in America today 
    Forum Radioactive Isotope cosmictraveler's Avatar
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    Wealth Inequality in America - YouTube


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    Forum Freshman Piemaster's Avatar
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    I was about to gripe and then saw your signature A partial remedy I think might be much steeper tax brackets. And oddly enough many of the super-rich agree.


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    Forum Radioactive Isotope sculptor's Avatar
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    pfffft
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    Forum Radioactive Isotope cosmictraveler's Avatar
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    What about stock holders of those companies voting to only allow that CEO's earn a percentage of what they actually can make for the company they work for? Lets say one CEO now earns 1 billion for a year but that company didn't earn much, say negative 2 percent growth over the previous year. Why would the CEO get the billion if he/she didn't improve the companies business ?
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    Ascended Member Ascended's Avatar
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    Lack of money holds back wealth creation and keeps the poor as poor, so how about allowing people to make bank certified credit notes. Simple idea really when someone creates anything of value they can then create their own credit note and pop along to the bank who certifies they've created something of value and then they can cash their credit note. What this would basically mean is that there is a massive incentive for anyone who can create something of value to do so. Ok so you are all now screaming ok clever clogs who is going to pay for all this? Well that is pretty simple really, the money is created virtually by the banks on behalf of the government, then can be printed by the mint if necessary probarbly not but can be, the value of the goods produced offsets the intoduction of more money in the economy (it just means there are more things and more money in the economy than would otherwise have been). So basically the county as a whole gets richer, more money and more things remember, but also people don't have to be poor and if they are unemployed or need some money, then they can get it by creating something of value that simple. End result richer country and less poor people.
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    Forum Radioactive Isotope sculptor's Avatar
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    Quote Originally Posted by cosmictraveler View Post
    What about stock holders of those companies voting to only allow that CEO's earn a percentage of what they actually can make for the company they work for? Lets say one CEO now earns 1 billion for a year but that company didn't earn much, say negative 2 percent growth over the previous year. Why would the CEO get the billion if he/she didn't improve the companies business ?
    you saw the video you posted
    remember
    who owns most of that stock?
    and
    the current regulations only require the boards of directors to consider the wishes of the stock holders, there is no requirement for them to follow those desires.

    way back in the 60s, there was a commie rag called "rising up angry" and in one of their issues, they decried to problem with interlocking bords of directors, and predicted that it would eventually lead to rediculous levels of compensation-----------wow they wuz right

    As long as we have a millionaires congress, and authoritarian right leaning leaders-the laws and imbalance ain't gonna change without a lot of "grass roots" action. Just about as likely as--------------------

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    Quote Originally Posted by Piemaster View Post
    I was about to gripe and then saw your signature A partial remedy I think might be much steeper tax brackets. And oddly enough many of the super-rich agree.
    I doubt steeper tax brackets would make much difference. Despite the graduated income tax, wealthy citizens in the United States generally pay a lower percentage of their income as income tax than do middle class citizens. This is because there are many, many, loopholes built into the tax code that allow income to go untaxed; but to take advantage of these loopholes usually requires professional assistance from paid accountants and/or lawyers. Millionaires can afford these specialists, ordinary citizens cannot.

    Ultimately, I see the problem as a flawed election system more than a flawed tax system. Elections in the U.S. are heavily influenced by paid commercial advertising. Candidates who help the wealthy get wealthier get plenty of donations to their advertising warchests, those who do not have great difficulty getting elected. Trying to arrange "grassroots" support with many small donations from those of modest means offsetting a few large donations from the wealthy sounds good, but it is an uphill battle when the wealthiest 10% of the country controls more wealth than the remaining 90%. I don't see how the situation can possibly improve without some sort of meaningful campaign finance reform that reduces the ability of the wealthy to buy elections simply by making political donations.
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