Is Income Inequality Leading To A Crisis For Capitalism?

[TakeAStepBack]

If you mean wealth gap, it won't. Removing restrictions to foster capital ventures in America, and removing the subsidies given to "winners" by government and letting insolvent firms fail will foster fierce competition again. This raises the bar for everyone and creates wealth for all.

Your wishful thinking does not make it a fact. I suggest that you add "Player Piano" to your ever growing reading list.

Or you can start thinking by trying to answer questions like "Will that fierce competition of yours leave everyone with an equal income? If not, then how much inequality it will create? Will that level of inequality remain constant, or it will change over time? How it will change, what will be the driving force for those changes?"

My wishful thinking?

You want me to read a fictitious novel by Vonnegut to better understand economics?
I've already read it along with several of his other works. So it goes.

"equal income" is communist/socialist rhetoric and does not even begin to capture reality.

Sorry, but I have no time to elaborate further. You'll have to stop reading Das Kapital and pick up some new books (besides fiction) to get with the now.

 

[ilia25]

If you mean wealth gap, it won't. Removing restrictions to foster capital ventures in America, and removing the subsidies given to "winners" by government and letting insolvent firms fail will foster fierce competition again. This raises the bar for everyone and creates wealth for all.

Your wishful thinking does not make it a fact. I suggest that you add "Player Piano" to your ever growing reading list.

Or you can start thinking by trying to answer questions like "Will that fierce competition of yours leave everyone with an equal income? If not, then how much inequality it will create? Will that level of inequality remain constant, or it will change over time? How it will change, what will be the driving force for those changes?"

My wishful thinking?

You want me to read a fictitious novel by Vonnegut to better understand economics?
I've already read it along with several of his other works. So it goes.

"equal income" is communist/socialist rhetoric and does not even begin to capture reality.

Sorry, but I have no time to elaborate further. You'll have to stop reading Das Kapital and pick up some new books (besides fiction) to get with the now.

For all that ranting you did, it did not answer a simple question -- how much of income inequality your pure capitalism would create?

 

[TakeAStepBack]

For all that ranting i did? This is becoming pointless quick.

Income inequality will always exist as far as definitive terms of those two words mean. Your suggestions are ridiculous about it. "Income inequality" means nothing, while a wealth gap is a different story.

"Donnie, you're out of your element."

 

[TakeAStepBack]

Should I read the fiction novel again to obtain the knowledge you wish to profess I learn? Fucking unreal. This country has been completely subverted.

 

[ilia25]

For all that ranting i did? This is becoming pointless quick.

Income inequality will always exist as far as definitive terms of those two words mean. Your suggestions are ridiculous about it. "Income inequality" means nothing, while a wealth gap is a different story.

Both income inequality and the wealth gap are directly related, the former causing the later. And if they are getting big, then it's a serious problem. You suggest that a pure capitalism does not have it, but you offer nothing that can substantiate that claim.

 

[EdwardBaiamonte]

And if they are getting big, then it's a serious problem.

Why exactly is it a problem if not because of class warfare Marxists who have brainwashed our liberals?

You suggest that a pure capitalism does not have it, but you offer nothing that can substantiate that claim.

under capitalism profits are reduced to zero thanks to competition

 

[ilia25]

And if they are getting big, then it's a serious problem.

Why exactly is it a problem if not because of class warfare Marxists who have brainwashed our liberals?

Because a tiny superrich elite surrounded by the poor is bound to get their golden asses kicked.

And because it is not fair -- the rich are a part of the society and they owe their fortunes to it. Otherwise they would live on an inhabited island.

You suggest that a pure capitalism does not have it, but you offer nothing that can substantiate that claim.

under capitalism profits are reduced to zero thanks to competition

One's salary is not a profit -- it's a market price of one's labor.

 

[TakeAStepBack]

And because it is not fair -- the rich are a part of the society and they owe their fortunes to it. Otherwise they would live on an inhabited island.

There you go, show your ignorance for all to see.

It's not fair!!

Why not just start posting the fallacious details of the exploitation theory too. We have way too many of these types in this country.

 

[Sallow]

Of course it is.

We have income disparity that is around 470:1. No other modern industrialized nation does this..it's the third worlders that have this.

The one percent is getting obscenely wealthly on the backs of everyone else.

 

[Katzndogz]

We might not have that income disparity if so many Americans weren't worthless drug addicts looking for someone to pay for their next fix.

 

[TakeAStepBack]

We don't have capitalism here for the second time around.

 

[ilia25]

And because it is not fair -- the rich are a part of the society and they owe their fortunes to it. Otherwise they would live on an inhabited island.

There you go, show your ignorance for all to see.

It's not fair!!

Why not just start posting the fallacious details of the exploitation theory too. We have way too many of these types in this country.

The right types are like bots -- they don't think, they look for patterns. If you mention inequality, they see the pattern -- class warfare! Marx!

No, I don't believe in rich exploiting the rest of us because I believe we have a working democracy. The rising inequality is the result of the market forces reacting to the technological shocks -- that's why I made a reference to "Player Piano".

But that does not mean we should accept this outcome. Free market is not a goal in itself, it is merely an instrument we are using to achieve high living standards. It is not a perfect force, that's why we should not hesitate if we have to make adjustments to the outcome.

 

[Truthmatters]

Its a lack of regulation and low top tax rates

 

[Truthmatters]

We might not have that income disparity if so many Americans weren't worthless drug addicts looking for someone to pay for their next fix.

wow got any statistics to back the veiw?

 

[Flopper]

Both capitalism and democracy can only flourish where there is growing strong middle class. It's a serious problem when the upper middle class joins the wealthy and the lower middle class slips into poverty.

 

[Katzndogz]

Democracy is over as soon as people start voting themselves funds from the public treasury.

 

[ilia25]

Its a lack of regulation and low top tax rates

I was talking about the the rising inequality in before tax incomes.

 

[Katzndogz]

We might not have that income disparity if so many Americans weren't worthless drug addicts looking for someone to pay for their next fix.

wow got any statistics to back the veiw?

http://www.michaelshouse.com/drug-addiction/drug-addiction-statistics/

•In 2010 there was an estimated 22.6 million Americans over the age of 12 that were current or former illicit drug users within the last month of when the survey was given; This equates to about 8.9 percent of the population aged 12 or older.
•The drug marijuana was the most commonly used illegal substance. There was about 17.4 million individuals who used it in the past month from when the survey was taken. From 2007 and 2010, those numbers increased to 6.9 percent, up from 5.8 or 14.4 million to 17.4 million users.
•Individuals 50 to 59 years of age, their rate of past drug use went up from 2.7 percent to 5.8 percent from 2002 to 2010
•An estimated 10.0 million individual 12 to 20 years of age that admitted to being drinkers; 6.5 million were binge drinkers and 2.0 million heavy drinkers.
•Over six million children in America live with at least one parent who has a drug addiction.
•Since 1980, the number of deaths related to drug overdoses has risen over 540 percent.
•The most commonly abused drug (other than alcohol) in the United States by individuals over the age of 12 is Marijuana, followed by prescription painkillers, cocaine and hallucinogens.
•Each year, drug abuse and drug addiction cost employers over 122 billion dollar in lost productivity time and another 15 billion dollars in health insurance costs.
•Baltimore, Maryland has more per capita individuals living with heroin addiction than any other state in the U.S.
•Since 1990, the number of individuals who take prescription drugs illegally is believed to have risen by over 500 percent.

THe good idea is to pay these people to be worthless drug addicts. What an EXCELLENT PLAN.

 

[ilia25]

We might not have that income disparity if so many Americans weren't worthless drug addicts looking for someone to pay for their next fix.

wow got any statistics to back the veiw?

http://www.michaelshouse.com/drug-addiction/drug-addiction-statistics/

•In 2010 there was an estimated 22.6 million Americans over the age of 12 that were current or former illicit drug users within the last month of when the survey was given; This equates to about 8.9 percent of the population aged 12 or older.
•The drug marijuana was the most commonly used illegal substance. There was about 17.4 million individuals who used it in the past month from when the survey was taken. From 2007 and 2010, those numbers increased to 6.9 percent, up from 5.8 or 14.4 million to 17.4 million users.
•Individuals 50 to 59 years of age, their rate of past drug use went up from 2.7 percent to 5.8 percent from 2002 to 2010
•An estimated 10.0 million individual 12 to 20 years of age that admitted to being drinkers; 6.5 million were binge drinkers and 2.0 million heavy drinkers.
•Over six million children in America live with at least one parent who has a drug addiction.
•Since 1980, the number of deaths related to drug overdoses has risen over 540 percent.
•The most commonly abused drug (other than alcohol) in the United States by individuals over the age of 12 is Marijuana, followed by prescription painkillers, cocaine and hallucinogens.
•Each year, drug abuse and drug addiction cost employers over 122 billion dollar in lost productivity time and another 15 billion dollars in health insurance costs.
•Baltimore, Maryland has more per capita individuals living with heroin addiction than any other state in the U.S.
•Since 1990, the number of individuals who take prescription drugs illegally is believed to have risen by over 500 percent.

THe good idea is to pay these people to be worthless drug addicts. What an EXCELLENT PLAN.

I don't buy this crap. Neither pot, nor Ecstasy, nor hallucinogens create an addiction, and those are the most popular illegal drugs. The real drug addicts compose at most 2-3% of US population.

The real problem is the growing income gap between the top 1% and lower 80%.

 

[Katzndogz]

wow got any statistics to back the veiw?

http://www.michaelshouse.com/drug-addiction/drug-addiction-statistics/

•In 2010 there was an estimated 22.6 million Americans over the age of 12 that were current or former illicit drug users within the last month of when the survey was given; This equates to about 8.9 percent of the population aged 12 or older.
•The drug marijuana was the most commonly used illegal substance. There was about 17.4 million individuals who used it in the past month from when the survey was taken. From 2007 and 2010, those numbers increased to 6.9 percent, up from 5.8 or 14.4 million to 17.4 million users.
•Individuals 50 to 59 years of age, their rate of past drug use went up from 2.7 percent to 5.8 percent from 2002 to 2010
•An estimated 10.0 million individual 12 to 20 years of age that admitted to being drinkers; 6.5 million were binge drinkers and 2.0 million heavy drinkers.
•Over six million children in America live with at least one parent who has a drug addiction.
•Since 1980, the number of deaths related to drug overdoses has risen over 540 percent.
•The most commonly abused drug (other than alcohol) in the United States by individuals over the age of 12 is Marijuana, followed by prescription painkillers, cocaine and hallucinogens.
•Each year, drug abuse and drug addiction cost employers over 122 billion dollar in lost productivity time and another 15 billion dollars in health insurance costs.
•Baltimore, Maryland has more per capita individuals living with heroin addiction than any other state in the U.S.
•Since 1990, the number of individuals who take prescription drugs illegally is believed to have risen by over 500 percent.

THe good idea is to pay these people to be worthless drug addicts. What an EXCELLENT PLAN.

I don't buy this crap. Neither pot, nor Ecstasy, nor hallucinogens create an addiction, and those are the most popular illegal drugs. The real drug addicts compose at most 2-3% of US population.

The real problem is the growing income gap between the top 1% and lower 80%.

I understamd your need to believe this. It's one of the reasons it has gotten so bad. The REAL problem are the ones who work and don't take drugs.