BenTheDemon
Banned deucer.
You all probably know that I'm a Socialist, but I will try my best to present both sides of the argument fairly.
These graphs explain income inequality far better than I could in words:
There are a few ways to take these numbers. I will present the major two.
Liberal Argument: The growing wealth gap between the rich and poor is a huge problem. It is probably the biggest factor to recession/depression. To put it in perspective, the last time income inequality was this high was in 1928 (Right before the Great Depression). The rich use tax loopholes to horde their money while contributing little to the economy. They invest their money in China and other places with cheap labor and unethical environmental practices. The "hard work" argument falls flat on its face when you consider Stock Market Manipulation and the fact that the Walton Family (6 people that inherited money from their father) have more wealth between them than 40% of Americans COMBINED. And they then use their power to bust up unions, pay unlivable wages, and essentially rule us with economic power.
Conservative Argument (My 10th Grade History Teacher was a staunch Conservative, so I will attempt to paraphrase him on this issue.): Income inequality is a non-issue. The rich getting richer does not harm the poor. Though the gap may be getting larger, and the percentage may be getting lower, in ACTUAL income, the poor have gotten richer along with the rich. The rich also create jobs for all of us, so taxing them would hurt us as well. The rich also have every right to give their enormous wealth to their kids regardless of whether or not they've earned it. Investing in other countries is natural because of our barbaric taxes and labor laws.
Discuss everything about the topic here!
Happy posting. :)
These graphs explain income inequality far better than I could in words:
There are a few ways to take these numbers. I will present the major two.
Liberal Argument: The growing wealth gap between the rich and poor is a huge problem. It is probably the biggest factor to recession/depression. To put it in perspective, the last time income inequality was this high was in 1928 (Right before the Great Depression). The rich use tax loopholes to horde their money while contributing little to the economy. They invest their money in China and other places with cheap labor and unethical environmental practices. The "hard work" argument falls flat on its face when you consider Stock Market Manipulation and the fact that the Walton Family (6 people that inherited money from their father) have more wealth between them than 40% of Americans COMBINED. And they then use their power to bust up unions, pay unlivable wages, and essentially rule us with economic power.
Conservative Argument (My 10th Grade History Teacher was a staunch Conservative, so I will attempt to paraphrase him on this issue.): Income inequality is a non-issue. The rich getting richer does not harm the poor. Though the gap may be getting larger, and the percentage may be getting lower, in ACTUAL income, the poor have gotten richer along with the rich. The rich also create jobs for all of us, so taxing them would hurt us as well. The rich also have every right to give their enormous wealth to their kids regardless of whether or not they've earned it. Investing in other countries is natural because of our barbaric taxes and labor laws.
Discuss everything about the topic here!
Happy posting. :)