Comments on: Inequality is about more than money http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/ Sat, 21 Jun 2014 15:30:06 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: michaelryan http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1031 Sat, 21 Jun 2014 15:30:06 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1031 Dear Larry and fellow conservatives..

The problem today is the right sees all taxes as wealth redistribution. That is too narrow a view.

Taxes are best used to pay for a free and prosperous society’s infrastructure.. Including…
1. Quality education through college.(cost for college has far far exceeded inflation since 1980 due to reduced funding from gov sources). Raise taxes on the wealthy and subsidize the costs to bring them back to 1980 levels. In return you get the best educated work force in the world!
2. Roads.. Why do we have so many toll roads now? Because tax breaks for the rich and businesses prevent the government from providing this service any longer.
3. Medicine.. Nationalize the drug companies and get rid of $1,000 pills for diabetes. There are no free markets in health care .. We cannot wait for the invisible hand of the market to pick us clean.

Corporate welfare only benefits the wealthy!! Why should the walmart store be allowed to suit for lower property taxes while I see my taxes continue to go up!! Because corporations don’t want to pay their fair share.. That’s just their nature and gov is the only institution that can prevent this.

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By: tmc http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1028 Wed, 11 Jun 2014 03:04:32 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1028 @buckaroo5, taxation is not the way to solve inequality anymore unless you try to tax estimated wealth. The top 1% own virtually all of the stock in all it’s forms, and assets in their forms. These people are “worth” a lot of money. They don’t “have” all of it. At their level it’s the same thing, but at ours it’s not. They are just playing you to think that you can tax them out of power. You can’t.

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By: buckaroo5 http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1027 Tue, 10 Jun 2014 16:23:43 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1027 All the talk is about taxing wealth, however that is not what is happening – wealth is not being taxed due to the tax code – what we are taxing is income. Yes, I am addressing deferred compensation in all its forms including perquisites.

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By: tmc http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1026 Tue, 10 Jun 2014 15:31:33 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1026 It seems Mr. Summers argument is that serfdoms are just fine as long as the lords are providing for the serfs.

I do agree with him that the rich having so much is not the problem as most people see it. Most think the rich have gigantic hordes of cash and swim in it late at night like Scrooge McDuck. I don’t think that’s the problem. Nor do I think that the poor and middle class not having enough is the problem. These are just arguments for jealousy. I think the problem is truly fairness and opportunity. The American dream is dead. Fix that and there would be no problem. First and foremost the current form of capitalism must be regulated in different ways than it was before. We must not allow for mega-conglomerates that wipe out competition in more and more sectors. This destroys the dream. I don’t care how much stock one person owns, but he should have to buy it from far more companies. GE should make one thing. IBM should make one thing. Philip Morris and Kraft Inc. should not own ALL the food types, and nothing other than food types. These gigantic global corporations are destroying capitalism as we were taught it, and causing the inequality and most importantly the lose of opportunities.

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By: njglea http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1025 Tue, 10 Jun 2014 15:07:34 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1025 What is this, Mr. Summers? “the key reason for concern about inequality is that lower- and middle-income workers have too little — not that the rich have too much.” What a stupid statement. Almost as stupid as advising President Clinton to get rid of Glass-Stegall act and paving the way to housing price manipulation and the global financial meltdown that sent such disproportionate wealth to the top 1% global financial elite. Your ideas are a disgrace to democracy.

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By: Acetracy http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1024 Tue, 10 Jun 2014 01:47:06 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1024 Commenters here hone in on “choice” and “prudent decisions”, yet they fail to see that for the working poor and middle class there are few choices and decisions are usually made for them. Education coupled with capital has been the road to success for most new wealth.

The American middle class does not get a quality education and instead of having any capital, they are in debt. Even those who do “choose” to get a quality education end up deeply in debt, till their 30s and 40s.

Summers’ statement that the problem is “not that the rich have too much” is absurd. Of course it is the problem. It has bought the US government, left a “democracy” only in name, and is leaving the majority of population without any stake in the economy. That is indeed a problem, especially when so much wealth today is created out of speculative trading than actually building capital – thus jobs.

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By: Packard http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1023 Mon, 09 Jun 2014 20:02:40 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1023 Aside from the variables of Lady Luck, hard work, personal ambition, self discipline, and persistence, the greatest separator of the classes is the ability to make prudent decisions in one’s life.

Easy to write, but very difficult top practice in real time. Then again, life is always about choices, isn’t it?

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By: slotowner http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1022 Mon, 09 Jun 2014 19:07:39 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1022 I think that people who focus on inequality gloss over the no. 1 reason why inequality happens, the choices that people make.
If inequity is such a Huge issue, then there is an obvious why to solve a large part of if which is to take away people FREEDOM to make bad & unwise choices.
If their were laws & draconian enforcement that prevented people from over spending, having children that they can’t afford or out of wedlock, dropping a demanding job because they don’t want to the stress, outlawing divorce, etc. then a lot of the social factors that create inequality would disappear but I don’t know anyone who thinks that is an improvement.
In the end it is a farce talk about inequality & separate it from freedom of choice. Almost every artificial means of controlling it creates an new leadership of the elite who benefits from the limits & restrictions that they place on freedom of choice.

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By: slotowner http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1021 Mon, 09 Jun 2014 19:07:35 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1021 I think that people who focus on inequality gloss over the no. 1 reason why inequality happens, the choices that people make.
If inequity is such a Huge issue, then there is an obvious why to solve a large part of if which is to take away people FREEDOM to make bad & unwise choices.
If their were laws & draconian enforcement that prevented people from over spending, having children that they can’t afford or out of wedlock, dropping a demanding job because they don’t want to the stress, outlawing divorce, etc. then a lot of the social factors that create inequality would disappear but I don’t know anyone who thinks that is an improvement.
In the end it is a farce talk about inequality & separate it from freedom of choice. Almost every artificial means of controlling it creates an new leadership of the elite who benefits from the limits & restrictions that they place on freedom of choice.

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By: brotherkenny4 http://blogs.reuters.com/lawrencesummers/2014/06/09/inequality-is-about-more-than-money/#comment-1020 Mon, 09 Jun 2014 15:42:40 +0000 http://blogs.reuters.com/lawrencesummers/?p=506#comment-1020 Many of the solutions would come out of a democratic process. The american people don’t vote though, and are too lazy and stupid and brainwashed to do what it takes to have a real representative government. There have always been fascists and greedy corporations, and for the most part the people were always brainwashed by religion and other control entities to follow and be good servants. We have only rarely been actively democratic. Usually only after great despare and suffering. The system is set up to make you as useful to the wealthy as possible. You have to see that and work to correct it starting with your self, but including understanding how the media, congress, the supreme court and the president manipulate you to be the losers that you are. Quit being stupid and lazy america, and stop believing magic and hocus pocus. That’s what it takes.

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