Krugman on Piketty: Why we're in a new Gilded Age

[☑︎#VoteDemocrat]

you don't say....



yeah breh you got it
Krugman is nuts and not credible, you are sane and credible
thanks for the statistical and historical analysis and your supporting evidence

You're showing how unequipped you are right now.

I already told ya'll in the other thread all the government data, but you just wanna say it influences future policy...and it doesn't.

Data is data.

Thats the point here. It doesn't say what you're trying to make it say.

Krugman is a liberal. I get that and I MOSTLY agree wit him...but this sort of caping, DOES NOT help him.

ALSO the CBO just said wage increases DO raise unemployment by a bit...even republicans were happy to hear that.

Lets not jump around here.

I'm posting LEGIT criticism by LEGIT scholars in the field and all you can do is post up similies and strawmen saying "oh well krugman isn't credible"

Thats NOT what I said.

 

[Shogun]

One could probably argue we never brought an end to the first Guilded Age.

 

[tmonster]

You're showing how unequipped you are right now.

thanks breh

 

[tmonster]

One could probably argue we never brought an end to the first Guilded Age.

I can see a case for it

 

[Brown_Pride]

Yea I mean I think there is a clear problem with wealth/income inequality in the west, but where left leaning economists continually fail is in suggesting the solution is through high taxation

What good will taxing the 1% at a 90% marginal rate do if the jobs the 99% used to do are all replaced by robots and computers

Inequality activists get so caught up in the numbers they don't step back and look at what's causing the trends and shifts that got us here

We should be asking questions like.... how can society balance the forces of automation and increasing productivity with the need to keep people employed.... how can society better equip current and future generations with the skills and knowledge to capitalize on segments of growth and prosperity... etc. etc. People misdiagnose symptoms for causes and from there no kind of productive change or discussion can come. But its easier to essentially troll with a simple emotionally loaded term like inequality than to get people to sit down and look at the full scope of the problem....

you take some of that money and inject it back into education. I.E. invest your tax money back into your populous so that yur populous can then make more money for you to tax.

The driving force behind a lot of failure in government is corruption, the driving force behind corruption is the 1%. Imagine that.

The thing we need to remember here is that the question at the heart of all of this is:
IS INCOME INEQUALITY A BAD THING?

The answer is...
Short term, no, you really don't even notice it.
Long term, it destroys civilizations, and ultimately leads to instability and revolution....at least if we're to believe history.

People need to stop being so damn myopic when it comes to this thing and look at income, economy, health, wealth, prosperity, and stability as one big thing and stop nit picking shyt.

 

[TLR Is Mental Poison]

you take some of that money and inject it back into education. I.E. invest your tax money back into your populous so that yur populous can then make more money for you to tax.

So is raising taxes on the 1% the only or best way to fix education? What good will more money do if it is mismanaged, and being that the money we have now is mismanaged why not fix that before asking for more $$$?

The thing we need to remember here is that the question at the heart of all of this is:
IS INCOME INEQUALITY A BAD THING?

The answer is...
Short term, no, you really don't even notice it.
Long term, it destroys civilizations, and ultimately leads to instability and revolution....at least if we're to believe history.

People need to stop being so damn myopic when it comes to this thing and look at income, economy, health, wealth, prosperity, and stability as one big thing and stop nit picking shyt.

The irony here is you are forcing all the world's problems through the filter of income inequality. You are being myopic.

There are 2 extremes to income inequality. With no income inequality, everyone has the same $$$. I don't think that is ideal. Why work for anything or invent anything or invest in anything if you will end with the same result as the guy doing nothing? On the other end, there is 1 guy with all the $$$. The problems with that are more obvious. So clearly, somewhere in the middle is an ideal, which means SOME income inequality is a good thing.

Most of the major problems facing Americans can't be fixed by hiking taxes on the 1%

 

[A Real Human Bean]

The irony here is you are forcing all the world's problems through the filter of income inequality. You are being myopic.

There are 2 extremes to income inequality. With no income inequality, everyone has the same $$$. I don't think that is ideal. Why work for anything or invent anything or invest in anything if you will end with the same result as the guy doing nothing? On the other end, there is 1 guy with all the $$$. The problems with that are more obvious. So clearly, somewhere in the middle is an ideal, which means SOME income inequality is a good thing.

Most of the major problems facing Americans can't be fixed by hiking taxes on the 1%

I don't think anyone here believes all of the world's problems boil down to income inequality. You keep implying that but it's just not the case.

The extreme levels of income/wealth inequality is a major problem in the US and globally. This is pretty much universally agreed upon. Hiking taxes on a group that already pays less taxes than it should be paying, and using that money to fund good social programs is one way of dealing with this problem.

It's not an either/or situation. You can raise taxes on the rich (and we really should be cutting defense spending along with this) and at the same time work on reforming social programs that you feel are being mismanaged or just create new ones.

 

[TLR Is Mental Poison]

Please tell me this isn't what I sound like...

Nah... u troll for fun, @Napoleon trolls for self-meaning

 

[☑︎#VoteDemocrat]

So is raising taxes on the 1% the only or best way to fix education? What good will more money do if it is mismanaged, and being that the money we have now is mismanaged why not fix that before asking for more $$$?


The irony here is you are forcing all the world's problems through the filter of income inequality. You are being myopic.

There are 2 extremes to income inequality. With no income inequality, everyone has the same $$$. I don't think that is ideal. Why work for anything or invent anything or invest in anything if you will end with the same result as the guy doing nothing? On the other end, there is 1 guy with all the $$$. The problems with that are more obvious. So clearly, somewhere in the middle is an ideal, which means SOME income inequality is a good thing.

Most of the major problems facing Americans can't be fixed by hiking taxes on the 1%

taxes are the lowest they've EVER been for the 1%. Lettuce be cereal.

 

[TLR Is Mental Poison]

I don't think anyone here believes all of the world's problems boil down to income inequality. You keep implying that but it's just not the case.

I don't imply it. Other people do by continually suggesting tax hikes on the rich will solve all our problems.

The extreme levels of income/wealth inequality is a major problem in the US and globally. This is pretty much universally agreed upon. Hiking taxes on a group that already pays less taxes than it should be paying, and using that money to fund good social programs is one way of dealing with this problem.

Do you know what the effective tax rates of the rich (1%) are, compared to the effective tax rates of the average American?

It's not an either/or situation. You can raise taxes on the rich (and we really should be cutting defense spending along with this) and at the same time work on reforming social programs that you feel are being mismanaged or just create new ones.

So of all the problems America is facing:

- General mismanagement of govt funds (which alone renders raising taxes on the rich to be useless)
- Erosion of middle class jobs through automation, productivity gains & outsourcing
- Skyrocketing costs for housing, higher education and healthcare
- An increasing gap between the skills of the American populace and the skills we need to compete globally

Etc. etc.

you think our top priority should be tax hikes on the rich? When the top 1% pays ~40% of the country's taxes, and pays effective tax rates at least 2x higher than that of the bottom 80% of the country? What about the fact that the bottom 99% is paying close to the lowest effective tax rates they have in the country's history? No, as far as taxes go, the rich pay more than their share, and all of the actual important problems can be solved without tax hikes on everybody.

Personally I think everyone but those below the poverty line should pay the same tax rates, but we have to fix all the problems with the American system first- none of which will be fixed by doing nothing but increasing taxes on the top 1%. What the fukk is a tax hike to a multi billionaire

 

[TLR Is Mental Poison]

taxes are the lowest they've EVER been for the 1%. Lettuce be cereal.

And the % of the country's tax bill the 1% is paying is its highest ever. Similarly taxes are close to the lowest they've ever been for the whole country. What's your point?

 

[A Real Human Bean]

So of all the problems America is facing you think our top priority should be tax hikes on the rich?

I don't know if you're being purposely obtuse or have a comprehension issue, but the very point I'm making is:

It's not an either/or situation. You can raise taxes on the rich and at the same time work on reforming social programs that you feel are being mismanaged or just create new ones.

And no, the rich do not pay their fair share of taxes. They routinely practice tax avoidance and many billion-dollar corporations actually pay zero to negative tax, pocketing billions of dollars that should be going to the American people.

We already have a number of social programs that have been shown to reduce poverty with great success, and with more money we can continue to fund these as well as others (better healthcare, better education etc.).

Do you actually have a response to the fact that we can raise taxes on the rich, using that tax money to fund social programs, while also working on reforming current programs and creating new ones?

 

[TLR Is Mental Poison]

I don't know if you're being purposely obtuse or have a comprehension issue, but the very point I'm making is:


And no, the rich do not pay their fair share of taxes. They routinely practice tax avoidance and many billion-dollar corporations actually pay zero to negative tax, pocketing billions of dollars that should be going to the American people.

We already have a number of social programs that have been shown to reduce poverty with great success, and with more money we can continue to fund these as well as others (better healthcare, better education etc.).

Do you actually have a response to the fact that we can raise taxes on the rich, using that tax money to fund social programs, while also working on reforming current programs and creating new ones?

Sure.

First of all. Yes the corporations don't pay a lot of taxes. Their shareholders do though.

And yes, we can raise taxes on the rich to fund social programs, but given the last decade or so of the govt's fiscal management and failures, its doubtful. There are too many problems to fix. What good are new social programs, when so many existing govt programs need to be fixed. Obamacare is a mess. The student loan program that was supposed to make college more affordable has emboldened colleges to push tuitions to crazy heights, and balloon student loan debt beyond credit cards. Fed's zero rate program has falsely pumped up assets, trumping up stock values and making housing unaffordable for average people. All under the auspice of "stimulating the economy". So I'm weary on making more social programs when so much the govt has done had the opposite effect of their intentions. We have so many govt created problems, and you want to solve them by basically creating more. Nah, no thanks. Raising taxes won't work, and more bad govt won't work either.

 

[☑︎#VoteDemocrat]

And the % of the country's tax bill the 1% is paying is its highest ever. Similarly taxes are close to the lowest they've ever been for the whole country. What's your point?

I think we could be collecting more taxes.

We've got more millionaires and people of means...ever.

Capital gains taxes can't be hidden forever

 

[Madvillain]

http://www.nytimes.com/2014/05/09/u...ist-has-some-problems-with-pikettys-book.html