Hello There, Guest! (LoginRegister)

Post Reply 
For discussion: wealth distribution in the US
Author Message
Owl 69/70/75 Offline
Just an old rugby coach
*

Posts: 80,655
Joined: Sep 2005
Reputation: 3192
I Root For: RiceBathChelsea
Location: Montgomery, TX

DonatorsNew Orleans Bowl
Post: #301
RE: For discussion: wealth distribution in the US
There is one other structural issue with the "rich get richer, poor get poorer" argument. There are plenty of poor people who get richer. Guess what? They aren't poor any more, so they don't show up in the poor people stats. The poor people who show up in the statistics are the poor people who didn't get richer, along with some formerly richer people who got poorer.

The trick, as both Lad and Tanq have been sparring over, is that we want more mobility, in particular more upward mobility. That requires, first, economic growth. So any proposal to lift the poor out of poverty must start with economic growth, because without growth there can be no net upward mobility, just people swapping places. Second, we need to get rid of our "welfare trap/poverty trap" social welfare structure that penalizes people for moving up the economic ladder. For a family of four, moving up from roughly $15,000 earned income (poverty level) to $55,000 (middle class) results in basically zero increase in take-home cash, because throughout the range, virtually every additional dollar earned is offset by a dollar lost to taxes and benefits for which the family no longer qualifies. It is a de facto 100% effective tax rate over that range. We need to reform our welfare system to eliminate that. Milton Friedman's negative income tax or the Boortz-Linder prebate/prefund do that. Another thing that would help mobility is school choice, including vouchers. I've always thought an effective advert would be one of Wellington and Harrington finishing a round of golf at the country club, and over drinks agreeing that school vouchers are a terrible idea because if they can't keep poor kids out of ritzy private schools, how can they ensure that their children get better opportunities?
(This post was last modified: 05-18-2022 12:39 AM by Owl 69/70/75.)
10-10-2019 05:24 PM
Find all posts by this user Quote this message in a reply
GoodOwl Offline
The 1 Hoo Knocks
*

Posts: 25,218
Joined: Nov 2010
Reputation: 2239
I Root For: New Horizons
Location: Planiverse
Post: #302
RE: For discussion: wealth distribution in the US
so, uh, how's that "wealth" distribution been going over the past, oh, year to year and a half or so?? Hunter and the "Big Guy" certainly getting more distributions from China, Ukraine, et. al... Meanwhile poorer Amercians..."they" say all the Demokkkrat-created inflation is "helping" the poor, it is "our strength."
05-11-2022 02:09 PM
Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Copyright © 2002-2024 Collegiate Sports Nation Bulletin Board System (CSNbbs), All Rights Reserved.
CSNbbs is an independent fan site and is in no way affiliated to the NCAA or any of the schools and conferences it represents.
This site monetizes links. FTC Disclosure.
We allow third-party companies to serve ads and/or collect certain anonymous information when you visit our web site. These companies may use non-personally identifiable information (e.g., click stream information, browser type, time and date, subject of advertisements clicked or scrolled over) during your visits to this and other Web sites in order to provide advertisements about goods and services likely to be of greater interest to you. These companies typically use a cookie or third party web beacon to collect this information. To learn more about this behavioral advertising practice or to opt-out of this type of advertising, you can visit http://www.networkadvertising.org.
Powered By MyBB, © 2002-2024 MyBB Group.