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Of the 1%, by the 1%, for the 1% - Joseph Stiglitz on income inequality

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  1. nowapowa nowapowa is offline

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    Oct 6th, 2011 (10/6/2011 3:29am)

    This was printed in May 2011. Pretty incredible prescience from the Nobel Prize winner and former Chief Economist of the World Bank.

    "As we gaze out at the popular fervor in the streets [referring to the Arab Spring], one question to ask ourselves is this: When will it come to America? In important ways, our own country has become like one of these distant, troubled places."

    http://www.vanityfair.com/society/fe...ercent-201105#
    Edited By: nowapowa Oct 6th, 2011 at 04:45 AM
  2. tekiller tekiller is offline

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    Oct 6th, 2011 (10/6/2011 3:39am) in reply to warden

    Sigh federal reserve look at income equality since 1913 establishment of federal reserve to 1971 ending of any value of the dollar.

    I'm getting tired of arguing with trying to explain to retarded fraking liberals that taxing the rich won't do a dang thing until the currency in which we use is stable and not manipulated to invisibly tax the shit out of the poor and middle classes.

    /rant
  3. astaggs astaggs is offline

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    Oct 6th, 2011 (10/6/2011 3:41am) in reply to tekiller

    Hugo Stiglitz tho...

    Edited By: astaggs Oct 6th, 2011 at 03:42 AM
  4. userid363 userid363 is offline I want an undertitle

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    Oct 6th, 2011 (10/6/2011 3:44am) in reply to warden

     
    Originally Posted by warden View Post

    DMCA tho

    You must be one of those fraking liberals tekiller's talking about. lol intellectual property rights
  5. tekiller tekiller is offline

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    Oct 6th, 2011 (10/6/2011 3:46am) in reply to userid363

    User answer one fraking question can income equality be achieved withou a stable monetary system?
    Edited By: tekiller Oct 6th, 2011 at 03:47 AM
  6. kellykip kellykip is offline The Chosen One

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    Oct 6th, 2011 (10/6/2011 3:49am) in reply to nowapowa

     
    Originally Posted by nowapowa View Post

    Arab Spring

    What is the worst smelling soap. ever.

  7. nowapowa nowapowa is offline

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    Oct 6th, 2011 (10/6/2011 3:53am) in reply to tekiller

     
    Originally Posted by tekiller View Post

    Sigh federal reserve look at income equality since 1913 establishment of federal reserve to 1971 ending of any value of the dollar.

    I'm getting tired of arguing with trying to explain to retarded fraking liberals that taxing the rich won't do a dang thing until the currency in which we use is stable and not manipulated to invisibly tax the shit out of the poor and middle classes.

    /rant

    do you really think those in power will let us return to the Bretton Woods system? lol?
    Thread Starter
  8. Pker4Dummies Pker4Dummies is offline

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    Oct 6th, 2011 (10/6/2011 3:57am) in reply to nowapowa

    lol KK
  9. emcee21 emcee21 is offline

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    Oct 6th, 2011 (10/6/2011 4:00am) in reply to Pker4Dummies

    The argument from the left seems to be "the rich are stealing from the poor, so let's steal it back through taxation." This reduces us to thuggery. Assuming we accept the premise, the argument should be strictly "the rich are stealing from the poor, so let's eliminate the mechanisms that allow them to do that."
  10. Dyzalot Dyzalot is offline

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    Oct 6th, 2011 (10/6/2011 4:06am) in reply to emcee21

    Among other reasons, the more government cartelizes industries and heaps regulation upon regulation, the more the poor and middle class will continue to be marginalized when it comes to walth accumulation.
     3
  11. Willywoo Willywoo is offline

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    Oct 6th, 2011 (10/6/2011 4:10am) in reply to emcee21

     
    Originally Posted by emcee21 View Post

    The argument from the left seems to be "the rich are stealing from the poor, so let's steal it back through taxation." This reduces us to thuggery. Assuming we accept the premise, the argument should be strictly "the rich are stealing from the poor, so let's eliminate the mechanisms that allow them to do that."

    Great observation.
  12. userid363 userid363 is offline I want an undertitle

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    Oct 6th, 2011 (10/6/2011 4:13am) in reply to tekiller

     
    Originally Posted by tekiller View Post

    User answer one fraking question can income equality be achieved withou a stable monetary system?

    Who is asking for income equality? How about doing what we can so that people who are working are not poor and people who truly can't work aren't starving?

     
    Originally Posted by emcee21 View Post

    The argument from the left seems to be "the rich are stealing from the poor, so let's steal it back through taxation." This reduces us to thuggery. Assuming we accept the premise, the argument should be strictly "the rich are stealing from the poor, so let's eliminate the mechanisms that allow them to do that."

    I agree with your premise but methinks we might disagree on the mechanics, and also whether these mechanisms will truly allow people to reap the rewards of hard work. On top of that, even a totally free market has great inequities in how different people get paid (again, see teachers and the cast of Jersey Shore)
  13. Dyzalot Dyzalot is offline

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    Oct 6th, 2011 (10/6/2011 4:17am) in reply to userid363

     
    Originally Posted by userid363 View Post

    I agree with your premise but methinks we might disagree on the mechanics, and also whether these mechanisms will truly allow people to reap the rewards of hard work. On top of that, even a totally free market has great inequities in how different people get paid (again, see teachers and the cast of Jersey Shore)

    Since when do teachers operate in a free market?
     3
  14. warden warden is offline

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    Oct 6th, 2011 (10/6/2011 4:17am) in reply to userid363

     
    Originally Posted by userid363 View Post

    I agree with your premise but methinks we might disagree on the mechanics, and also whether these mechanisms will truly allow people to reap the rewards of hard work. On top of that, even a totally free market has great inequities in how different people get paid (again, see teachers and the cast of Jersey Shore)

    but are these inequalities inherently wrong?

    wilt chamberlain argument begging to be made. ignore the comic sans and this site is the shortest/clearest explanation: http://seattlecentral.edu/faculty/jh...nargument.html
     2
  15. AmSlim22 AmSlim22 is offline

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    Oct 6th, 2011 (10/6/2011 4:33am) in reply to warden

    everyone knows the rich are go-getters and hardworkers and the poor are lazy and just want free stuff. whoever wrote this article is an idiot.
     
  16. saxman saxman is offline

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    Oct 6th, 2011 (10/6/2011 4:39am) in reply to The Precedent

     
    Originally Posted by The Precedent View Post

    petition for mods not to delete thread or ban nowa

    i think he's okay b/c he stated in the start of the thread that he was using cliffs and not quoting the entire thing directly

     
    Originally Posted by AmSlim22 View Post

    everyone knows the rich are go-getters and hardworkers and the poor are lazy and just want free stuff. whoever wrote this article is an idiot.

    yep
  17. nowapowa nowapowa is offline

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    Oct 6th, 2011 (10/6/2011 4:40am) in reply to emcee21

     
    Originally Posted by emcee21 View Post

    The argument from the left seems to be "the rich are stealing from the poor, so let's steal it back through taxation." This reduces us to thuggery. Assuming we accept the premise, the argument should be strictly "the rich are stealing from the poor, so let's eliminate the mechanisms that allow them to do that."

    Or you could say that the rich have destroyed the very system that allowed for some level of equality to exist in this country. As finance and flight capital have become king manufacturing has disappeared. Virtually the same thing happened to markets in Asia in the 90s. I'd say getting absurdly rich while causing the impoverishment of millions presents a level of thuggery that goes way beyond the abstraction you present.
    Edited By: nowapowa Oct 6th, 2011 at 04:41 AM
    Thread Starter
  18. The Precedent The Precedent is offline

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    Oct 6th, 2011 (10/6/2011 4:43am) in reply to emcee21

     
    Originally Posted by emcee21 View Post

    The argument from the left seems to be "the rich are stealing from the poor, so let's steal it back through taxation." This reduces us to thuggery. Assuming we accept the premise, the argument should be strictly "the rich are stealing from the poor, so let's eliminate the mechanisms that allow them to do that."

  19. cmval cmval is offline

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    Oct 6th, 2011 (10/6/2011 4:48am) in reply to The Precedent

     
    Originally Posted by The Precedent View Post

    fuck pitchforks, im bringing 200k cavs and 100k ballistas
  20. emcee21 emcee21 is offline

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    Oct 6th, 2011 (10/6/2011 4:51am) in reply to nowapowa

     
    Originally Posted by nowapowa View Post

    Or you could say that the rich have destroyed the very system that allowed for some level of equality to exist in this country.

    Nah, you can say that, I'll say other things. In any case, what do you propose?
  21. The Precedent The Precedent is offline

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    Oct 6th, 2011 (10/6/2011 4:51am) in reply to cmval

     
    Originally Posted by cmval View Post

    fuck pitchforks, im bringing 200k cavs and 100k ballistas

    ill spam for you
  22. tekiller tekiller is offline

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    Oct 6th, 2011 (10/6/2011 4:51am) in reply to nowapowa

     
    Originally Posted by nowapowa View Post

    Or you could say that the rich have destroyed the very system that allowed for some level of equality to exist in this country. As finance and flight capital have become king manufacturing has disappeared. Virtually the same thing happened to markets in Asia in the 90s. I'd say getting absurdly rich while causing the impoverishment of millions presents a level of thuggery that goes way beyond the abstraction you present.

    So it's rich peoples fault the people of America continued to elect people that allowed this to continue for so long? No blame can be levied at them?

    You can blame people for the manipulations that have led us to where we are but the truth of the matter is if you want people to blame the 40+ crowd need only look in the mirror. Cue v for vendetta speech.
  23. Numan Numan is offline

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    Oct 6th, 2011 (10/6/2011 4:53am) in reply to The Precedent

    Give me a destination time, I'll send scout bombs.
  24. nowapowa nowapowa is offline

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    Oct 6th, 2011 (10/6/2011 4:55am) in reply to Dyzalot

     
    Originally Posted by Dyzalot View Post

    Since when do teachers operate in a free market?

    do you think for profit education fails because it's at a competitive disadvantage?
    Thread Starter
  25. saxman saxman is offline

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    Oct 6th, 2011 (10/6/2011 5:05am) in reply to nowapowa

    Eliminate the fiat system and go back to using tally sticks because we just have too much funny money in circulation. Or possibly just go back to a barter system where we can all just exchange goods and services like the good old days.

    Eliminate regulations because it just creates a false sense of security and prevents people thinking for themselves. Anyone who feels their property or person has been violated are free to use the courts to sue for damages.

    Privatize education, fire departments, police services and the military because government intervention has only led to higher costs and more inefficiency. People that need those services should pay for them on an as needed basis.

    Return infrastructure spending to the local level so that states / provinces / municipalities can charge user fees for the services. If you don't use the infrastructure, you shouldn't be forced to pay for it.

    Eliminate corporate taxes and capital gains taxes because they are the job creators. They will invest their money furthering job growth and ensure prosperity for those who demonstrate a desire to work hard.

    If i missed anything, feel free to add.
  26. emcee21 emcee21 is offline

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    Oct 6th, 2011 (10/6/2011 5:08am) in reply to saxman

     
    Originally Posted by saxman View Post

    If i missed anything, feel free to add.

    Nope, after that post, no straw man is left standing.
  27. saxman saxman is offline

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    Oct 6th, 2011 (10/6/2011 5:09am) in reply to emcee21

    lol - i tried
  28. keylight keylight is offline

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    Oct 6th, 2011 (10/6/2011 5:36am) in reply to saxman

    I think everyone agrees that the distribution of wealth is extremely problematic and unsustainable (also just kind of shitty). I don't see how the tax code is the cause or solution to this problem, though.
    Edited By: keylight Oct 6th, 2011 at 05:37 AM
    Reason: basically what emcee said
  29. stackinsideways stackinsideways is offline

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    Oct 6th, 2011 (10/6/2011 5:41am) in reply to keylight

    might read the OP when Im sober, would just like to add that the Noble Peace Prize is a fucking joke.
     
  30. phish42O phish42O is offline

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    Oct 6th, 2011 (10/6/2011 6:00am) in reply to stackinsideways

    buy guns and toothpaste bitchez!
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