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Joseph Stiglitz Says American Inequality Didn’t Just Happen

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Re: Joseph Stiglitz Says American Inequality Didn’t Just Happen

#221
post #79

Earlier quoted context omitted.

Unless you can short-circuit that system by convincing the lower tax brackets that their success hinges on minimizing the taxation of the top-bracket. Then the whole thing just sort of goes to hell.

That’s a nice theory. Except that the top tax brackets pay way more in income taxes, both in dollars and as a percentage of income. Also, the viewpoint you advocate is extremely patronizing. It assumes that a large swathe of voters are just rubes who have been taken in by parlor tricks and sleight of hand. Have you considered the possibility that, instead, they have taken the earnest position that the point of democr…

> Except that the top tax brackets pay way more in income taxes, both in dollars and as a percentage of income.

My guess is that once you factor-in payroll taxes & regressive consumption taxes, the poor contribute a larger % of their income than do the rich.

> ...the viewpoint you advocate is extremely patronizing.

W/ all due respect, spare me the crocodile tears. Using economic chicanery to persuade huge swathes of voters is a storied tradition in electoral politics (as is accusing those who would call it chicanery of having 'no respect for the common man,' or whatever).

> ...is not to use the votes of the many to take from the few, but rather to set up a system that is reasonably fair to all?

I'd love for democracy to take from the many and give to the few, but for _some MYSTERIOUS reason_, the many don't appear to have much to spare these days.

So, until the Gini coefficient starts to tick-back towards this "reasonably fair" system you mention, I'll likely stick to my rube-like habit of suspiciously asking '_cui bono_?'

Re: Joseph Stiglitz Says American Inequality Didn’t Just Happen

#222
post #217

Earlier quoted context omitted.

That might be true....if we hadn't spent the previous two generations in a period of extreme wealth creation and far more equitable wealth distribution. I can certainly accept a level of inequality being healthy. I see no evidence for "every reason to believe" - I actually see the opposite: We have evidence that such extreme inequality is not necessary. Even if the argument was accepted, one would have to prove such…

I think you are strongly agreeing with me. I am arguing that a less extreme inequality (more equal shares) will generate more activity and more wealth overall.

My bad - I totally misread that. Thanks for clarifying.
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