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Economics Discuss MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host at the Political Forums; You Tube You Tube haha I'm glad someone is telling the truth....

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Old 01-27-2019, 01:10 AM
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Default MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host


haha
I'm glad someone is telling the truth.
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Old 01-27-2019, 07:27 AM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

Quote:
Originally Posted by saltwn View Post
http://www.youtube.com/watch?v=8akySjXuOAs

haha
I'm glad someone is telling the truth.
What truth is that?

High taxation doesn't solve the problem of income inequality but it can mitigate the effects of high income inequality.

Significantly higher compensation for those in the bottom 50% of income households is what's required to reduce income inequality.

This is the same whenever we address "welfare" assistance. Welfare assistance doesn't reduce poverty and was never intended to reduce poverty. It's purpose is to mitigate the effects of poverty. Poverty is the problem, not the welfare assistance. The welfare assistance is just a symptom of the problem.

If you want to reduce the high costs of welfare in the United States then you have to reduce the poverty in the United States.
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Old 01-27-2019, 12:21 PM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

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Originally Posted by ShivaTD View Post
What truth is that?

High taxation doesn't solve the problem of income inequality but it can mitigate the effects of high income inequality.

Significantly higher compensation for those in the bottom 50% of income households is what's required to reduce income inequality.

This is the same whenever we address "welfare" assistance. Welfare assistance doesn't reduce poverty and was never intended to reduce poverty. It's purpose is to mitigate the effects of poverty. Poverty is the problem, not the welfare assistance. The welfare assistance is just a symptom of the problem.

If you want to reduce the high costs of welfare in the United States then you have to reduce the poverty in the United States.
Bolded by me, to specify point being questioned.

To significantly increase compensation for those in the bottom 50% of the income strata, means what, exactly? The ways to do that would be....

Raise minimum wage: Impact: Inflation, and everybody else's wages go up, effectively negating the minimum wage increase.

Wealth Redistribution: Not effective, bandaid.

So, the real answer is, to give these individuals methods improve their earning potential. How can that be done? Provide resources for self learning that costs them nothing. We have that, it's called a Library. On the job training: Most employers already do that. If the individual shows the right aptitude and attitude, most employers will train an employee of a new position within the company.

Reduce the amount of welfare and assistance provided by the government for long term recipients who are not certified as disabled. As it was never intended to be a long-term assistance, then it should not be a long-term assistance.

I am tired of hearing 'but I can't because of (pick an excuse)'. I've done it, and other people can too.

No one 'owes' people a living. If they aren't happy with their income, then do something about it, quit waiting for someone to fix it for you. The term 'income inequality' is a blatant falsehood. Your income is equal to our production, therefore there is no inequality. Comparing one's income to a person who does entirely different job, with different qualifications, for a different length of time, with different experience, is not a comparison at all.

It's people telling you you are incapable of doing something for yourself.
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Old 01-27-2019, 06:35 PM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

you're both way off imho.

At least 70% taxation each year over 10 million dollars earned or whatever the current wish is, would be good for the economy as pointed out by the Professor.

rigging the economy so only a select few get ahead is stupid and dangerous to our country's economy and general well being.
the kind of unrest that arises from severe oppression causes unimaginable disruption.
for evidence look at the bourgeoisie of revolutionary France or the reparation requirements of pre Nazi Germany.
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Old 01-28-2019, 08:45 PM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

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you're both way off imho.

At least 70% taxation each year over 10 million dollars earned or whatever the current wish is, would be good for the economy as pointed out by the Professor.



I would agree taxing more HIGH Income would help yet isn't the cure is it?
As is restricting the amount of time one can collect. So what else can improve the situation?
..

rigging the economy so only a select few get ahead is stupid and dangerous to our country's economy and general well being.
the kind of unrest that arises from severe oppression causes unimaginable disruption.
for evidence look at the bourgeoisie of revolutionary France or the reparation requirements of pre Nazi Germany.
..
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Old 01-28-2019, 08:50 PM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

Might the time of our current system need updating? After all it rises 6-to 9%+ each year


America has many able but not working people already. Not even looking after years of crap.


Businesses made up for 2008 period by increases and have recovered.
Yet not those on the lower pay scale. Greedy ba*t*rds
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Old 01-29-2019, 05:35 AM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

Quote:
Originally Posted by saltwn View Post
you're both way off imho.

At least 70% taxation each year over 10 million dollars earned or whatever the current wish is, would be good for the economy as pointed out by the Professor.
That would do nothing but put the brakes on the economy and send money overseas. Years back, New York implemented a Millionaire tax hoping to generate a fairly large amount of revenue. What actually happened was that revenue went down as millionaires left New York for states with more reasonable tax laws.


Quote:
Originally Posted by saltwn View Post
rigging the economy so only a select few get ahead is stupid and dangerous to our country's economy and general well being.
And doing it for the bottom of the income ladder does just as much harm.

Quote:
Originally Posted by saltwn View Post
the kind of unrest that arises from severe oppression causes unimaginable disruption.
The economic disaster that comes from wealth redistribution is on display in Venezuela right now.

Quote:
Originally Posted by saltwn View Post
for evidence look at the bourgeoisie of revolutionary France or the reparation requirements of pre Nazi Germany.
See above.
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Old 01-29-2019, 09:27 AM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

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Originally Posted by GetAClue View Post
That would do nothing but put the brakes on the economy and send money overseas. Years back, New York implemented a Millionaire tax hoping to generate a fairly large amount of revenue. What actually happened was that revenue went down as millionaires left New York for states with more reasonable tax laws.



And doing it for the bottom of the income ladder does just as much harm.


The economic disaster that comes from wealth redistribution is on display in Venezuela right now.


See above.
Not just Venezuela, look at the virtual revolt of the yellow jackets in the so-called democratic socialist paradise of France. Over 50% of the French GDP is government spending a lot of it on social programs. Yet the purported beneficiaries of socialism are rioting in the streets against a government that chokes off opportunity.

The proposition the Dumb Turks find so appealing is to use the power of government to penalize success in business. Despite the top 10% of income earners paying 60% of income tax revenues currently the problem is they are avoiding paying their fair share.

There is nothing like Wall Street financed commentators like Sam Seder endorsing a policy of having the government loot someone else's bank account. The Left's usual bread and circuses for the worker while the elites dine on $500 a pound beef like the Obamas.

Quote:
According to an article on The Wall Street Journal, Uygur is taking equity funds from 3L Capital, as well as venture capitalists Greycroft Partners, e.ventures, and WndrCo, an endeavor founded by Jeffrey Katzenberg, former chairman of Disney Studios.
Got that? The great champions of fairness are on the payroll of the same super rich they claim to despise.

https://www.dailywire.com/news/19496...ed-jacob-airey
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Old 02-15-2019, 04:26 PM
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Default Re: MIT Professor Destroys Entire DAVOS Panel, Silences Confused Panel Host

Quote:
Originally Posted by ShivaTD View Post
What truth is that?

High taxation doesn't solve the problem of income inequality but it can mitigate the effects of high income inequality.

Significantly higher compensation for those in the bottom 50% of income households is what's required to reduce income inequality.

This is the same whenever we address "welfare" assistance. Welfare assistance doesn't reduce poverty and was never intended to reduce poverty. It's purpose is to mitigate the effects of poverty. Poverty is the problem, not the welfare assistance. The welfare assistance is just a symptom of the problem.

If you want to reduce the high costs of welfare in the United States then you have to reduce the poverty in the United States.
Better talk to AOC If we start increasing wages and helping people financially they will just go out and buy cars, or other things that contribute to global warming. Isn't that what the left is trying to avoid by pushing socialism?

Once we are under a socialist regime, we will take what ever the government provides.
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