Comments on: Examine inequality’s causes before prescribing solutions Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: paintcan Tue, 25 Dec 2012 13:24:38 +0000 Bucklee – Social Security isn’t seen as an investment fund because higher returns imply higher risks to the fund. DUH.

@kehvan – “The true problem is that as a culture we’ve been taught to believe we’re victims of something, instead of taught we are the masters of our own destiny.”

If that were truly the case there wouldn’t be so many people spending so much money to shape laws in favor of their own interests and “destiny”. You sound like the “low information” segment of society too. People who were systematically discriminated against (e.g blacks in the south pre civil rights era) were never “masters of their own destiny”. And more than ever, one seems to have to have money to continue to make any. It’s becoming a country of investors rather than working employees.

For one thing, one needs a car, more often than not, just to get to employment prospects. I recall years ago that I never had one when I graduated from college. And the one I got when my grandfather died lasted about a month before the radiator died from driving about 120 miles round trip to a low paying entry level job. I had to quit and try to find something closer to home. I didn’t yet have a credit card.

That statement about being one’s own master only really made sense when most people worked the land and they needed productive land or their work could be wasted anyway. Somehow – submitting one’s resume with hundreds of others is not the stuff of “self mastery”. Nothing about the employment or educational opportunities I’ve seen in my life ever suggested I was ever really the master of my own destiny. It said very much the opposite and that it didn’t matter what I may have learned or could accomplish. If I wanted a job with someone else I had better be prepared to regard them as my “master” and they would decide what my value was or to demonstrate if I was able to do anything beyond my narrow job description. It is always in their interest never to value you too highly and makes other employees nervous if you try to cut across job descriptions.

BTW-OOTS – do you ever spend your retired weekends preaching to the street corner unemployed about the necessities of having a proper work ethic, in person? How about hiring a few of them as well?

By: Bucklee Fri, 21 Dec 2012 19:28:14 +0000 It seems to me that the biggest problem with Social Security is that it does not earn much interest – I believe only about 2%. Were SS dollars to be invested in a “fiscally conservative” portfolio, it would be easy to double that amount and likely solve its solvency problems.

By: franabulax Fri, 21 Dec 2012 10:19:25 +0000 kehvan, I do not see myself as victim, I am wealthy and my children are wealthy because of their own industriousness. Nor am I ignorant or stupid on the basis of the fact that we disagree. Nor do I have to descend to the level of insult to make my point. But I see a vast working underclass in the US deprived af the ability to climb the ladder unless they are exceptional, like myself, while the resources of half the nation are hoarded by a few. Time was, simply working a job guaranteed security and the acquisition of wealth. That time has passed and there’s a reason, which you have not addressed by merely flinging insults. So. What’s the reason as you see it?

By: brotherkenny4 Thu, 20 Dec 2012 20:44:29 +0000 The idea is that people should rise to their level of competance. That does not happen. You can be a minion if you want. I say most CEOs are stupid twits worried about the next three months and what that means to their wealth increase. Shallow, selfish and stupid. But you all like a master to look down on you, and you smile like a good little serf. “Oh thank you, king of all for seeing my loyalty and adoration of you” you say in some other equally pathetic way.

By: LeeReynolds Thu, 20 Dec 2012 17:35:50 +0000 “…payroll taxes that take about 12.4 percent (half from the worker, half from the employer)”

This is a pure fiction and the author should be ashamed for repeating it.

Wages are negotiated based upon the bottom line it costs a company to keep that employee around, not some imaginary number that exists only in the dreams of tax auditors.

All the money that is used to keep that employee on the payroll comes from the same pot. Money that I have to pay to the government is money that I’m not paying to the employee. Depending upon how you look at it, either I’m paying all the tax, or that employee is paying all the tax.

This canard about who pays what when all the money comes from the same place has been perpetrated on the public now for decades and I’m sick and tired of hearing it.

The average person should be smart enough to see through this.

By: segesta Thu, 20 Dec 2012 16:57:12 +0000 Yeah, people like Franabulax take the easy way out: blame some Evil Other that is the cause of all your problems, so you don’t have to look in the mirror. It’s funny that liberals claim to be ‘reality based’, yet spin their own tinfoil conspiracy webs.
See also: Jews, the Koch Brothers, “banksters”, Big Oil, etc.

By: Porkov Thu, 20 Dec 2012 16:25:12 +0000 Does ANYONE proofread at Reuters? Or should I say Reuter’s?

By: kehvan Thu, 20 Dec 2012 16:05:56 +0000 The real problem are people like the person “franabulax” above. While probably well meaning, their abject ignorance on economics deeply rooted within the ‘low information’ segment of the population, and it seems the proportion of that population is increasing.

The simple fact of the matter is once a person make $1 million, they’re set for life with interest income in excess of $25,000 per year. No one should begrudge someone striving to earn that level of wealth. We all should strive for that.

And the fact of the matter is, there’s not cabal of wealthy people attempting to deny you the ability to earn that level of wealth, because it’s not a zero-sum game. All it takes is a single idea, and a poor person could attain that level of wealth.

The true problem isn’t that there are wealthy people, and that some how life is better for them… The true problem is that as a culture we’ve been taught to believe we’re victims of something, instead of taught we are the masters of our own destiny.

By: franabulax Thu, 20 Dec 2012 15:11:09 +0000 You can’t tell me that 400 individuals controlling 50% of the nation’s wealth doesn’t put a damper on the other 99.999% gaining wealth!

Inequality is NOT due to market forces; the wealthy have very much stacked the deck in their favor by having the banks deregulated and controlling the healthcare industry, just for starters. They buy the law that suits them.

The focus of wealth around D.C. is not a new phenomenon.

If the top earners were taxed properly, then the bottom earners would be taxed less.

The corrupt and inequitable system of government and commerce we have had for some time has been revealed by the tide of falling income. But the thing that really precipitated this fall is efficiency. If you can make a product in China with slave labor, or in Detroit with robots, the income gained by the production process goes to fewer and fewer people. And fewer and fewer people have the wherewithall to buy the products, a fact overlooked by Gillespie and other comfortably off apologists for the status quo.

By: paintcan Wed, 19 Dec 2012 23:10:54 +0000 ….quotes from between $25,000 to $40,000…

BTW college degrees seem to make one more specialized and inflexible for potential hiring than not having them.

Mr Gillespie is also asking for trouble by talking privatized social security. If that had been the case pre-crash, a great many retirees, or even those far from it, would be starting from scratch again and screaming for the government to bail them out. They would also be asking for the defenestration of Wall Street investment bankers and they wouldn’t have been as polite or dispassionate as the OWS protesters.