Comments on: Fair Distribution: Ending the Wealth Gap

By: Elle

Elle — Sat, 02 Apr 2011 03:00:14 +0000

Of course the reason for a shrinking middle class is just poor fiscal planning and not that the wealthy one percent are taking gross profits. The thing is, is that eventually this upper echelon will choke on its own greed. Who will buy what they are selling? Surely not someone making .25 cents an hour in slave labour in North Korea.

By: Joshua

Joshua — Sun, 28 Nov 2010 00:41:35 +0000

Andrew,

I appreciate your comment. However, I believe you miss the point entirely. Not everyone is able to invest 50k a year for 30 or 40 years. The fact of the matter is that the system itself makes it increasingly harder for even upper middle-class citizens to achieve this, including the most “careful” ones. The fundamentally theory that the only thing you need is determination and willpower to become wealthy is put forth by those that are already wealth, the few that have succeeded in such a way, and the others that buy into that theory. The truth is that we cannot all be the top 1% – it’s not physically possible – and the world cannot support that level of wealth, consumption and waste.

Who will enforce these wage factors? The people who put them in place – the elected government, the people, and (yes, dare I say) the companies. If companies wish to go elsewhere, let them. Not all of them will, and those that do are better off not here in the first place. Wage gaps like this are already in place in the military, and common practice in many European countries. Yet, their companies and their economies flourish all the same. The countries in Europe that do this have higher life satisfaction, longer and healthier lives, and a general increase in overall well-being (Denmark, Germany, France are examples) without a failing economy or low standard of living.

Given these examples in contrast to our failures makes it hard for me to believe that efforts to decrease income inequality would fail. Read The Spirit Level if you want more proof, I don’t want to continue to argue a point that is already well made elsewhere.

Putting monetary wealth and profit before the human well being or in front of the well being of others is morally reprehensibly. We all know it, more people just need to say it. “Pulling yourself up by your boot straps” is an idea that has be proven wrong by the last 75 years of liberal economies, just look around at the growing rates of poverty, deteriorating national health statistics and collapsing social structures. We’re unhappy with our lives more today that we have ever been. Perhaps our society and economy need some revision?

Thanks for the comment!
Joshua

By: Andrew

Andrew — Sat, 27 Nov 2010 17:15:50 +0000

Setting a minimum wage factor of 10 in such corporations which have a skilled CEO making 2 million per year will NOT redistribute wealth at all. At 200,000 for the lowest paid employee those jobs can easily be automated for far less or outsourced overseas. If outsourcing is banned, such entrepreneurs will simply leave the USA for friendlier economic climes such as Singapore. Many of those with high wealth are those who accumulated that wealth by forgoing expensive restaurant meals with overpriced meals, first class travel and cruises and other luxuries. Saving and carefully investing say 50 K per year out of a professional income of 200 K before taxes in dividend paying securities can easily result in wealth of quite a few million after 30 or 40 years.(Use the rule of 72) This is the result of personal choices and responsible behavior. Who the hell is going to enforce these wage factors? Maybe some economic genius from North Korea?

By: Ten Things That Will Build The New Economy

Ten Things That Will Build The New Economy — Tue, 12 Oct 2010 14:02:44 +0000

[...] environmental destruction and social degradation will rise the New Economy of small business, fair distribution, local systems, renewable energy, environmental restoration and protection, social renewal and [...]

By: Misgivings On Giving

Misgivings On Giving — Sat, 07 Aug 2010 19:16:58 +0000

[...] this way – we can institute simple and effective measures that encourage a more reasonable distribution of wealth. For now, we can give thanks that at least some of the people at the top are donating large [...]

By: Taxing The Bads

Taxing The Bads — Tue, 22 Jun 2010 14:59:54 +0000

[...] Tax the Rich – People making more than 20 times the average wage should be taxed on their income. They are promoting inequality, which have been linked to a range of social and economic problems. Take this a few steps further, increase the taxes the further away you get from the average national income and subsidize the income of those 20 times below the average. This is more Robin Hood than the bank tax even: it supports equality and actually lifts people out of poverty. Basically, this could be a feebate for wage equality. [...]