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Old 01-30-2014, 11:29 AM  
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If we want more income equality.....

If we want more income equality, should we return to the economy of George W. Bush?
BY JIM LINDGREN
January 28 at 5:41 am

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Other things being equal, income equality is better than inequality. But other things are NOT equal. The easiest way to make incomes more equal in the short run is to have a recession.

Much has been made of growing income inequality since 1979, but very little attention has been paid to which of the four presidental administrations preceding Barack Obama increased income equality and which ones reduced it. In short, the two presidents whose terms involved improving income equality were the two George Bushes and the two whose terms were associated with worsening after-tax income equality were Ronald Reagan and Bill Clinton. It is probably not an accident that the two presidents in whose administrations the GDP grew the most were the two presidents whose time in office coincided with worsening income equality.

The president under whom the poorest quintile enjoyed the largest increase in after-tax household income was George W. Bush. And the two administrations under whom the richest quintile and richest 1 percent fared the worst were the two Presidents Bush. Among Barack Obama’s four immediate predecessors, the two biggest income equalizers were George H.W. Bush and George W. Bush.

Just to be clear, I am not pining for the good old days of the economy of George W. Bush.


But George W. Bush was the most successful of our recent past presidents in achieving very substantial increases in incomes for the poorest quintile (+18.4%), while keeping gains for the richest quintile and richest 1 percent at modest levels. For example, under Bush the Younger, the incomes of the richest 1 percent rose only 6.5 percent in eight years, compared to a staggering 84 percent under Clinton and 91 percent under Reagan.
If you would rather have Bill Clinton’s economy than George W. Bush’s economy – and I definitely would – then as a practical matter you probably don’t care overmuch about income equality.

http://www.washingtonpost.com/news/v...george-w-bush/
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Old 01-31-2014, 06:31 AM   #76
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The goal should be for all income classes to grow around the same pace.

AKA, all workers in our society benefit from the growth of our society.

When democrats talk about wealth ineqaulity, it is the uneven growth of the upper classes at the expense of everyone else.

It is not income equality that is the goal.

It is growth of all of America, not just the top, that is the goal.

As this graphic shows, there wasn't income equality, but there were fairly even rates of growth.

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Old 01-31-2014, 06:41 AM   #77
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Why would anyone want income equality?
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Old 01-31-2014, 06:46 AM   #78
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Originally Posted by vailpass View Post
Why would anyone want income equality?
Nobody does except for maybe actual communists.. and even then I doubt it

But conservatives can only win arguments when the write the script for their opponent.

So they turn discussing wealth inequality and the lack of growth for the middle and lower classes into "derp derp, you want income equality."
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Old 01-31-2014, 07:05 AM   #79
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This thread is one of the more hilarious ones. Democrats acting like the right are the ones guilty of using the concept of income inequality as demagoguery.
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Old 01-31-2014, 07:06 AM   #80
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Chart says Family Income. It isn't Family Income at all. Its Fed Pre Tax dollars. It includes none of the federal and state welfare programs, food stamps, and other cash aid.

Silly chart to support a foolish notion we should all grow at the same rate.
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Old 01-31-2014, 07:11 AM   #81
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Quote:
Originally Posted by Loneiguana View Post
The goal should be for all income classes to grow around the same pace.

AKA, all workers in our society benefit from the growth of our society.

When democrats talk about wealth ineqaulity, it is the uneven growth of the upper classes at the expense of everyone else.

It is not income equality that is the goal.

It is growth of all of America, not just the top, that is the goal.

As this graphic shows, there wasn't income equality, but there were fairly even rates of growth.

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Old 01-31-2014, 07:59 AM   #82
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Quote:
Originally Posted by Taco John View Post
See this is why I asked these questions. I knew that you wouldn't be able to answer them and be stuck at the usual ad hominem. Your intellect is a mirage. The points that I made are valid points that you refuse to answer because you know that you can't. That's fine with me - I'm not here to argue with you. You argue with me, and I'm willing to engage enough to show that the emperor has no clothes. I just wish every organization were as flawless as you make the fed out to be that we can't ask any questions about them. They endlessly pump money into the economy, "income inequality" grows, and I'm the the one who is clueless here for asking about the relationship between the two...
Typical bullshit word salad from you. I've never said the Fed was flawless or unquestionable.

Teej, I asked you a legitimate question. How is the Fed responsible for the recent growth in incomes for the top which has outpaced everyone but not responsible for the same trend under Raygun?

You have conveniently dodged that question. Not surprising because like most investors or gold bugs who are perpetually wrong, it's never the market's fault. Only the Fed's fault.
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Old 01-31-2014, 08:00 AM   #83
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Quote:
Originally Posted by HonestChieffan View Post
Chart says Family Income. It isn't Family Income at all. Its Fed Pre Tax dollars. It includes none of the federal and state welfare programs, food stamps, and other cash aid.

Silly chart to support a foolish notion we should all grow at the same rate.
Why would you include welfare programs in a calculation of incomes for income growth?
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Old 01-31-2014, 08:20 AM   #84
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Quote:
Originally Posted by Loneiguana View Post
I don't know if you act stupid or are actually this stupid... but you responded to this:



with this:



He asked who is saying income equality is the goal? Your response was that is should be obvious because they talk about income inequality.

So, then my question was, how does one get get to a goal of income equality from discussing income inequality, since that is what you implied in your post.

Stop being stupid.
You've identified stupidity (real or feigned) on the wrong side of that exchange. No where have I or anyone else in this thread said the goal is complete income equality. That's a red herring contributed by cosmo.
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Old 01-31-2014, 08:24 AM   #85
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Originally Posted by KC native View Post
Typical bullshit word salad from you. I've never said the Fed was flawless or unquestionable.

Teej, I asked you a legitimate question. How is the Fed responsible for the recent growth in incomes for the top which has outpaced everyone but not responsible for the same trend under Raygun?

You have conveniently dodged that question. Not surprising because like most investors or gold bugs who are perpetually wrong, it's never the market's fault. Only the Fed's fault.
Why should he answer your question when you ignored his?
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Old 01-31-2014, 08:25 AM   #86
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Why would you include welfare programs in a calculation of incomes for income growth?
Because it's actual income even if it's not always taxable income.
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Old 01-31-2014, 08:32 AM   #87
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Originally Posted by patteeu View Post
Why should he answer your question when you ignored his?
I'm not writing an extremely long post that the question would require when teej is going to just stick his head in the sand and say "IT'S THE FED'S FAULT. THEY PRINT MONEY. I DON'T CARE WHAT YOU SAY. RON PAUL TOLD ME THE FED IS TO BLAME."

Teej has repeatedly demonstrated his lack of knowledge when it comes to how an economy works and how funds flow throughout an economy.
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Old 01-31-2014, 08:40 AM   #88
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Originally Posted by patteeu View Post
Because it's actual income even if it's not always taxable income.
http://www.marketwatch.com/story/the...6?pagenumber=1

This entire issue is cooked up by the Democrats. There is income inequality. That is a fact. There will always be. To assign evil to it and use it as a political weapon is and always will be a democrat/left approach. It was a central tenant in Marx's writings. One does not have to be a Marxist to use the issue but it was central in his work.

The silly charts and name calling omits any factors that erode the narrative.
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Old 01-31-2014, 09:04 AM   #89
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Quote:
Originally Posted by Loneiguana View Post
Nobody does except for maybe actual communists.. and even then I doubt it

But conservatives can only win arguments when the write the script for their opponent.

So they turn discussing wealth inequality and the lack of growth for the middle and lower classes into "derp derp, you want income equality."
Fair response though I don't see your point on conservatives.
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Old 01-31-2014, 09:48 AM   #90
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Quote:
Originally Posted by Loneiguana View Post
The goal should be for all income classes to grow around the same pace.

AKA, all workers in our society benefit from the growth of our society.

When democrats talk about wealth ineqaulity, it is the uneven growth of the upper classes at the expense of everyone else.

It is not income equality that is the goal.

It is growth of all of America, not just the top, that is the goal.

As this graphic shows, there wasn't income equality, but there were fairly even rates of growth.

That sounds nice and all but if you cut through the BS what people really want is for “their” income to grow. As a middle class guy ( whatever that is) I would far prefer my income to grow at a 25% rate with the Rich guy growing at a 50% rate than I would for mine to grow at a 5 % rate and the Rich guy decline at a 50% rate. The income inequity BS being pushed by the politicians is an attempt to make people think their situation is unfair and that it is someone else’s fault.
Schadenfreude in this country is strong and the only thing better than “ME” getting something, is to watch someone else get screwed where they have to pay more or can’t get to do as they wish. Luxury Taxes on Private Jets and boats such would be a fine example of this.
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