Something doesn’t add up ...

[sun rise]

I think it's difficult to prevent or prohibit people becoming "rich" (whatever that means) while maintaining to work hard, to invent, to develop, market and sell new products.

I'm not against rewarding people for success. No society on earth is 100% equal for all. But when the outcome is that millions are pushed down the ladder into poverty so a few can pig all the resources, that's beyond ordinary reward for success and into unbridled greed.

 

[Nous]

I'm not against rewarding people for success. No society on earth is 100% equal for all. But when the outcome is that millions are pushed down the ladder into poverty so a few can pig all the resources, that's beyond ordinary reward for success and into unbridled greed.

Those are nice metaphors, I'm sure. What laws would you change?

 

[Akivah]

I can see what you're driving at but unfortunately, more work progressively needs higher skill sets and that means more intensive education with those new jobs. Given our current educational situation, I still don't think the future looks all that bright if it keeps on going this way.

I agree, we need a shift in education as well. Less focus on college degrees and more focus on trade schools.

 

[Nous]

I just watched it. Very good, than you for sharing.

Gosh, you watched that show really quickly. I think what probably persuaded the jury most was the default rate of Abacus loans. That's what grabbed me.

 

[Shadow Wolf]

There indeed has been economic recovery when you look at the numbers, where politics tends to stop, but when you look beyond the numbers the bulk majority of the recovery has went straight to the top and everybody else is being paid less to work longer hours, having benefits slashed, and finding it harder to find decent full time employment.

 

[Stanyon]

There indeed has been economic recovery when you look at the numbers, where politics tends to stop, but when you look beyond the numbers the bulk majority of the recovery has went straight to the top and everybody else is being paid less to work longer hours, having benefits slashed, and finding it harder to find decent full time employment.

Not around where I am at in the mid-west, there are help wanted signs everywhere and I typically work 60-72 hours a week because we are so short handed (not complaining though, time and a half on overtime, double time on holidays, quarterly bonuses) overtime won't last forever though once we get up to staff but so many can't even pass a basic aptitude test much less the drug screen and it is very decent full time employment.

 

[Nous]

when you look beyond the numbers the bulk majority of the recovery has went straight to the top and everybody else is being paid less to work longer hours, having benefits slashed

Can you provide those numbers?

 

[Revoltingest]

There indeed has been economic recovery when you look at the numbers, where politics tends to stop, but when you look beyond the numbers the bulk majority of the recovery has went straight to the top and everybody else is being paid less to work longer hours, having benefits slashed, and finding it harder to find decent full time employment.

No, many lower level types have benefitted.
Small contractors here are so busy that help is hard to find.
The ones left behind are the ones without the skills in demand.
The need to step up their game....get the skills....move to where
the work is...do what is needed.

 

[sun rise]

Those are nice metaphors, I'm sure. What laws would you change?

The laws should change for those at the top and those at the bottom. I could with time write a political platform because of all the structural problems that are in evidence today. But here are three examples:

I would take ALL income from any source at the same percentage level. If the tax rate for someone who actually works is not a burden decreasing the urge to earn, then it should not decrease the urge to invest. (The proper rates and the tax laws are a big issue but this should be the principle).

I would limit the pay gap between the CEO and those on the bottom. Right now it can range up to 1000 to 1. I'm open to arguments but offhand 150 to 1 seems reasonable.

Since every nation besides the US has a guaranteed health care system, I'd adopt any of them with modifications to address deficiencies. I like the Japanese system right now which is government (think Medicare) + private (medigap or advantage). This gives everyone basic health care and allows people choices beyond that.

 

[Nous]

If the tax rate for someone who actually works is not a burden decreasing the urge to earn, then it should not decrease the urge to invest.

Regardless of what tax rate you (et al.) might propose, that statement does not sound correct to me. At the lowest levels of income, people have an "urge to earn" money in order to feed, clothe and house themselves and their families. I think there's a big gap between the point where people consider themselves to be earning enough to accomplish that, and where people feel themselves to be earning enough to invest.

I am about 100% ignorant on economics. Frankly I would want to see some numbers showing that it is the most productive formula to tax all income at the same rate.

 

[Vee]

Gosh, you watched that show really quickly. I think what probably persuaded the jury most was the default rate of Abacus loans. That's what grabbed me.

Lol. I didn't have much to do last night so I watched it straight away.
Totally agree with you on the default rate.
I found it a very unusual case.

 

[Nous]

I found it a very unusual case.

Particularly in light of the fact that the big banks drained some 20 trillion dollars out of the economy and they got little fines.

I love all the Sung daughters. I think the moral of the story is that if you're going to be unfairly prosecuted, have a bunch of daughters who are lawyers and love Dad.