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April 28, 2007

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exmaple

Let's see...income inequality is a statistic...we got a lower end and an upper end...if we juice the lower end with 10's of millions of immigrants since 1965 and add 10 Million plus illegals who are doing the work Americans won't do at the lowest wage and without complaint..

Yep, that would skew that stats.

Other Tom

I have never been persuaded that "income inequality" ought to be of interest to anybody. Unless someone can persuade me that the stuff that makes the high-enders so much better off than the low-enders was stolen by the former from the latter, my reaction is to yawn.

I've got mine; now you go get yours.

BarbaraS

Krugman is singing the mantra of the left. Capitalism is bad. The poor don't have as much money to spend as the rich. What he fails to understand is that the US poor are not really poor. They are not destitute. We have places people can go for help unlike other countries. What he also fails to understand is that the while the poor envy the rich they also admire them and want to emulate them.

Jane

I have never been persuaded that "income inequality" ought to be of interest to anybody. Unless someone can persuade me that the stuff that makes the high-enders so much better off than the low-enders was stolen by the former from the latter, my reaction is to yawn.

I've got mine; now you go get yours.

I completely agree. I grew up poor (- in fact quite poor if you compare my childhood with John Edwards. His family left the restaurant if the prices on the menu were too high, my family never once walked into a restaurant because every price was too high - even so I don't get $400.00 haircuts).

At any rate, never once did I think or believe (or was told) that anyone owed me anything. Rather I was brought up to believe I could be anything I wanted to be
as long as I was willing to work hard enough.

I am so damn sick of people with their hands out, and sicker of the people who propose to put things in those hands in exchange for nothing but whining.

Cecil Turner

If billionaires bother you, figure out a way to tax them.

Better yet, figure out a way to join them. Economic inequality is an inescapable companion to economic competition. The alternative, to drive out competition (and initiative) has been tried too many times to pretend we don't know the result. Yet our media elite insists it's a good idea™ despite reams of evidence to the contrary, even when admitting it's unworkable. Per Andy Rooney:

"Communism is fundamentally a more uplifting idea than capitalism." Its "only real weakness seems to be that it doesn't work."
We can either have inequal results, or level everyone at a dismally low level, and institute draconian totalitarianism to attempt to maintain the unnatural system against individual expression. No thanks. Any attempt to punish the successful merely for being successful is a step . . . in the wrong direction.

Maybeex

3. Beware the polemic-to-policy mismatch! After ranting about hedge fund billionaires, Krugman talks up such stand-bys as the estate tax. Please - that is currently aimed at estates over $2 million dollars. Don't rail about mega-wealthy billionaires and tell me the solution is to tax everyone with an estate over $2 million dollars. And please don't tell me about guys (and gals?) earning a billion dollars (tax deferred) and then tell me the solution is to revive Clinton's "millionaire's tax" on anyone earning more than $200,000 dollars.

Exactly exactly exactly. Furthermore, I beg politicians not to rhetorically treat the non-millionaires that complain they might get hit by the milliaire tax as responsibility-shirking criminals. Politicians verbally abuse tax payers in this country, when they should be THANKING everyone.

Jane:At any rate, never once did I think or believe (or was told) that anyone owed me anything.
I have an unfounded theory that it is the mentality that someone owes you something that leads to the US's relatively high crime rate.

Jane

I have an unfounded theory that it is the mentality that someone owes you something that leads to the US's relatively high crime rate.

It leads to a lack of success on so many levels. And it truly makes you wonder why so-called "leaders" encourage "minorities" to do it. One of the reason women were able to assimilate so quickly was because no one was sitting back and encouraging us to whine. Same with the gays for the most part - the non-whiners have already assimilated. But then you have people like Sharpton and Jackson who have spent a lifetime encouraging blacks to whine. I maintain that is why blacks still consider themselves outcasts for the most part. And it is very much a liberal phenominum.

Appalled Moderate

The problem with a high marginal rate is it discriminates against the wannabe rich in favor of the already rich. Bill Gates and Warren Buffet can now about whether tax rates are high enough. Because, no matter how high the rates go, they can live the life they want to live without compromises. Joe Schmuck, who is working the 20 hour days to get to Warren and Bill's level, is hit pretty hard. Result is that he may not choose to work the 20 hour days, and we are denied, as a consumer, the benefit of the great idea that he may have produced.

The real problem is not that people make obscene amounts of money, but that they often make these amounts of money for mismanaging their company, or firing people to make the financials look good. These are issues that have much more to do with corporate governance and supine boards of directors than they do with tax policy.

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