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  1. #1
    Bammer's Papa
    Kulindahr's Avatar
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    Notorious leech of taxpayer funds admits income inequality is destablizing!

    Most people understand without being able to explain the economics that wealth inequality is destabilizing. It's an amazing thing when one of the bankers who along with two administrations has worked with the government to help financial institutions rape the economy comes out and admits it, though!

    Blankfein worries that inequality is a big problem, calling it "very destabilizing" during an appearance on This Morning on Thursday.

    ....

    "...too much of the GDP of the country has gone to too few of the people." So he clarified that "if you grow the pie but too few people enjoy the benefits of it, the fruit, then you'll have an unstable society."
    So can we expect him to lead the charge in getting the "too big to fail" banks whittled down to size, change investment strategies to favor the economic security of the country and not of just the few?

    I think I'm more likely to wake up 19 again.





    http://theweek.com/speedreads/index/...#axzz34aJKh1dO

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  2. #2

    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    The big question is how poor are the poor. It is poverty that is destabilizing, not inequality. Usually inequality means poverty for the lower level, but in the case of the US, that has not been true, since the depression. Democrats are merely trying to use it to stir up class resentment and warfare, even as they work to increase the poverty and unemployment by flooding the country with more poor. The way to reduce inequality is to give our poor people a chance.

  3. #3
    auribus teneo lupum Stardreamer's Avatar
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    There is a general attitude that the rich are indifferent to this problem but that is likely not the case.

    World's Richest People Meet, Muse On How To Spread The Wealth

    I had read this story a while back and wondering about bringing it up here for discussion, this seems a good place to do it. When the 1% of the 1% realize there is a problem and put their wealth (power) to it, it is a good thing. The problem of course is as of that story they are just talking about it and have no direction yet other than focusing on long term investment over short term profit.
    Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right. H. L. Mencken US editor (1880 - 1956)

  4. #4
    auribus teneo lupum Stardreamer's Avatar
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Benvolio View Post
    The big question is how poor are the poor. It is poverty that is destabilizing, not inequality. Usually inequality means poverty for the lower level, but in the case of the US, that has not been true, since the depression. Democrats are merely trying to use it to stir up class resentment and warfare, even as they work to increase the poverty and unemployment by flooding the country with more poor. The way to reduce inequality is to give our poor people a chance.
    Part of the problem is capital is not moving through the system as it should, it is not "trickling down". The problem with government's reaction to this is instead of focusing on what is occurring in the market to cause this and fixing that, we are focusing on who we can punish or protect from its effects. The uncertainty introduced in the markets but such debates just makes the problem worse.
    Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right. H. L. Mencken US editor (1880 - 1956)

  5. #5
    Bammer's Papa
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Stardreamer View Post
    There is a general attitude that the rich are indifferent to this problem but that is likely not the case.

    World's Richest People Meet, Muse On How To Spread The Wealth

    I had read this story a while back and wondering about bringing it up here for discussion, this seems a good place to do it. When the 1% of the 1% realize there is a problem and put their wealth (power) to it, it is a good thing. The problem of course is as of that story they are just talking about it and have no direction yet other than focusing on long term investment over short term profit.
    They could start by giving up 1/5 of their wealth to make a fund dedicated to improving the world's infrastructure.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  6. #6
    Bammer's Papa
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Stardreamer View Post
    Part of the problem is capital is not moving through the system as it should, it is not "trickling down". The problem with government's reaction to this is instead of focusing on what is occurring in the market to cause this and fixing that, we are focusing on who we can punish or protect from its effects. The uncertainty introduced in the markets but such debates just makes the problem worse.
    What's ironic about that is if they all cut their profits in half in order to make sure all their workers have a living wage, the economy would boom and they'd end up even wealthier.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  7. #7
    JUB Addict Ninja108's Avatar
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Part of giving poor people a chance is providing with a living wage, something the companies won't do.

  8. #8

    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Ninja108 View Post
    Part of giving poor people a chance is providing with a living wage, something the companies won't do.
    If we stop importing more poor people by the millions, wages will rise by supply and demand. But wages are only a part of what an employer has to pay for labor. He pays FICA tax, medicare, unemployment, etc etc. Now Obamacare.

  9. #9
    Bammer's Papa
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Ninja108 View Post
    Part of giving poor people a chance is providing with a living wage, something the companies won't do.
    Of course not -- why actually pay your workers, when you can force the taxpayers to subsidize your cost?

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  10. #10
    JUB Addict maxpowr9's Avatar
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by Kulindahr View Post
    Of course not -- why actually pay your workers, when you can force the taxpayers to subsidize your cost?
    This going back to my feeling of taxing portfolio income at the highest current rate to increase the velocity of money.

  11. #11

    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Of course, it is taxed as ordinary income. Perhaps you are intending to say tax capital gains as ordinary income. That would of course, disc ourage sales and investment. How does any of this help.

  12. #12
    Bammer's Papa
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    Re: Notorious leech of taxpayer funds admits income inequality is destablizing!

    Quote Originally Posted by maxpowr9 View Post
    This going back to my feeling of taxing portfolio income at the highest current rate to increase the velocity of money.
    I've been pondering this and I don't see how that would increase the velocity. I'm also not clear on whether you mean interest income, dividends, or capital gains.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

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