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Thu Nov 19, 2020, 11:22 PM

Income inequality...


5 replies, 624 views

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Reply Income inequality... (Original post)
pbmus Nov 2020 OP
BootinUp Nov 2020 #1
ansible Nov 2020 #2
Blue Owl Nov 2020 #3
pat_k Nov 2020 #4
lostnfound Nov 2020 #5

Response to pbmus (Original post)

Thu Nov 19, 2020, 11:23 PM

1. And it leads to side effects like no democracy. nt

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Response to pbmus (Original post)

Thu Nov 19, 2020, 11:28 PM

2. But hey, it's ok as long as they're on our side! /sarcasm

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Response to pbmus (Original post)

Thu Nov 19, 2020, 11:36 PM

3. K&R

And don't even get me started about the tax aspect of it all...

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Response to pbmus (Original post)

Fri Nov 20, 2020, 12:14 AM

4. The REAL issue is distribution of wealth

The magnitude of income inequality is minor compared to the magnitude of the disparity in the distribution of wealth.

You can't go "negative" on income. A completely intolerable percentage of Americans are in the red on the wealth scale. And the consolidation of wealth at the "top" is utterly obscene. The dehumanizing effect of this intolerable state of affairs must be dealt with. No nation can call itself a true democracy with this level of depravation. We the people did NOT choose this.

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Response to pbmus (Original post)

Fri Nov 20, 2020, 08:33 AM

5. Federal recognition and aggressive tax advantages for collectives, ESOPS, fair wages...

Would be one place to start.

Net worth for entrepreneurs controlling the company that they themselves built is an issue that requires deep thought.

Elon Musk struggled to keep tesla afloat in its earlier years. His increase in wealth is the result of the stock marketís perception of the value of the companyís value. If you build a company and donít want to sell it off or surrender control, what then?

Part of the reason for inflated corporate capitalization (and hence for wealth inequality) is that shares of stock are expected to generate income in perpetuity. What if the rewards of building a successful company had some time limit or declining interest ó a 50 year limit for example? After which a gradually increasing share of the company became owned by the citizenry of the U.S., as silent partners? And an increasing percent to employees?

From the Divine Right of Capital, I learned that share ownership is essentially another form of entitled aristocracy, entitling people to the produce of a feudal estate, except that shares of stock are not hereditary like aristocracy but are inheritable. Yet the fact remains that initial entrepreneurial investment Is usually a tiny percent of market cap, with retained earnings building up value over decades.

Set a corporate tax rate of 25% or 30% for example, but lower it to 15% or 20% for companies that meet a certain set of criteria that aggressively reduce wealth inequality.

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