“Socialism is a great idea. That doesn’t mean that it is a great reality (16:09)” – And The evidence doesn’t match up to the ideology.
Articles tagged as
Income inequality
Still the Best Argument Against the “Income Inequality” Canard …
By any objective standard, President Trump has turned the economy around. The major stock market indices are at record highs. Employment is at record highs. Unemployment is at record lows. Wages are rising. So all the Democrats have to argue is “income inequality.” The canard that you really are not better off because the other … Read more
Disqus Doodlings – no, capitalism requires cooperation – LOTS of it. Part 2 of ??
Yeah, this Treehugger post on Einstein hating capitalism is gonna be a gold mine for blogging fodder. Even as I write this, the neo-socialist-enviros are pushing back on the Freedom to transact voluntarily (e.g. Capitalism). Another pick at the pot by Brian who, along with most there, hates the idea of the fruits of Capitalism: … Read more
Data Point: How to “correct” the Income Inequality between the US and the rest of the world?
After all, when you consider the basis point of not just “99% vs the 1%” in the US (as the Marxist / SJWs complain, who want to use Government to “equalize” everyone and thing) but instead, judge the world against the US, we ARE the 1% of the world and the rest of the world hates it and thinks, like American SJWs, that we “stole” all that wealth. So, how to “level” that field?
As has been said before “make us all serfs again”. DC Whispers has an interesting take on this (emphasis mine, reformatted slightly); I add the Progressive doxology “from whom all blessings flow?”:
…The “Before Obama” and “After Obama” figures make clear how the millennials were targeted for what has to rank as one of the most damaging bait and switch frauds in human history. Feed them easy money for college courses that have no application in the real world, give them a near-worthless piece of paper at the end, and charge them tens or even hundreds of thousands of dollars for being victims of the scam.
Data Point – Income Inequality?
..I mean, are Americans really no better off than they were during the late 1970s? I hear that stated quite frequently. But this chart of real income growth tells a different story. Please note that all the lines have been headed higher. Also note the 79 percent gain for the bottom 20 percent in post-transfer/tax … Read more
Calling out Ben Shapiro on “income inequality” is a dumb idea – especially if you’re a college professor
It speaks for itself: (H/T: Er, forgot to write it down)
GrokTALK! – Greg Moore: Was Income Inequality Messaging a Loser?
Is the left’s sales pitch on income inequality a loser when it comes to elections? In part I AFP-NH state director Greg Moore joins us to examine the recent British elections, including the symmetry of their income inequality messaging and Democrat losses in 2014 and the Labor parties losses last week.
Notable Quote – Professor Don Boudreaux
Richard Ammerman, a registered nurse in Rhode Island, challenges me by e-mail to answer “yes or no” to the question: Do I care about income inequality? No. I do not in the least care about income (or wealth) inequality. I suspect that some of my bleeding-heart-libertarian friends will berate me for being insensitive, so it … Read more
So, has the Trillions Spent on the War on Poverty worked?
From economist Dan Mitchell, a chart showing the poverty rate since 1950. It shows that before Federal Government insertion of itself radically into Society, Society was solving the poverty problem on its own. Since then, the percentage in poverty has not really changed much. You can also see (as Dan points out) that during the Presidencies of Reagan and Clinton, poverty rates started to decline once again.
Is it that Govt intervention stopped getting rid of poverty? I am not able to say that, but I can state that with the spending of Trillions of dollars since LBJ began his Great Society, there has been precious little change of the plight of the poor – or has there been? In fact, back in 2009 I posted this:
…“One in seven in total federal and state dollars now goes to welfare. But this is a completely unknown story,” Rector said. “This is not being reported. No one knows Obama is spending $10 trillion on welfare.”
Data Point – Once again, “who pays the taxes”? Where’s the Press on this?
From the Wall Street Journal:
“This all-too-conveniently confuses the incidence of a tax with the burden of a tax. The marginal tax rate on every additional dollar of capital gains and dividend income from corporate profits can reach as high as 44.75% at the federal level (assuming a company pays the 35% top corporate rate), not 15%.
The Congressional Budget Office recently examined the distribution of federal taxes on various income groups. The report was ballyhooed by liberals as proof of rising income inequality, but that argument is for another day. What everyone has ignored is what CBO found about the relative taxes paid by different groups. And, lo, the rich pay more, which is probably why the press didn’t report it.”
Indeed” “why the press didn’t report it.” All we have heard from the Left is the inequality, a la Warren Buffet, is the inequality of who pays what for taxes. What they seldom report to the public, and what Warren Buffet absolutely doesn’t mention, is exactly the important info laid out above: double taxation. The money that Buffet receives has already been taxed once at the corporate rate (35% before legal deductions) and as an owner of the corporation (as that’s what shareholders are – owners) he gets taxed a second time on that income – referred to as dividends.
GrokTALK! Special Interview – DaTechGuy (Pete Ingemi) and Jack Kimball / Jeff Chidester
The ‘Grok went to the Ovide Lamontagne reception last Saturday evening and the videos are here, here, here, and here). We also had the chance to do a couple of GrokTALK! Special interviews. First one was with DaTechGuy (Pete Ingemi) and being from Massachusetts, he wanted to discuss what he had just observed (his post … Read more
About that Occupy Wall Street / Progressive emphasis Income Inequality? Most Americans? Not so much
All we’ve heard from Occupy Wall Street and their enablers in the Progressive / Democrat camps (and the MSM that supports them all) is how we all hate the “growing income inequality gap” here in the US. Really? Look at this chart from Gallup. So, as I have learned to read charts like this … Read more