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View Diary: I.R.S.: U.S. Income Inequality Has Reached Record Level (w/Update) (186 comments)

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  •  Re (2+ / 0-)
    Recommended by:
    WearyIdealist, EastcoastChick
    I mean the money to hire people is still out there, it's just being hoarded by a very small percentage of the population in whole.
    If there were actually useful ways to spend/invest that money, those who are supposedly hoarding it would do so.

    The disconnect here (I think) is that I think you see the supposed hoarding as a cause of inequality and poor economic performance by the lower 90% of the income scale. Looking back, you probably see tax policy as a main driver of the hoarding dynamic.

    However, I would posit that lack of investment is an effect, not a cause. The cause could be as simple as the fact that a mature modern economy tends to be saturated and growth opportunities are highly technological in nature. In the 60s that everyone here talks about as some kind of economic heyday, to expand an operation you hired more workers. Now you just buy and install another machine. If that were the case, you would still see the same dynamic: fewer opportunities for many workers and stagnating incomes.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Wed Sep 11, 2013 at 01:54:24 AM PDT

    [ Parent ]

    •  Well, that's absolutely the dumbest thing I've (2+ / 0-)
      Recommended by:
      cpresley, greengemini

      read in a while.

      Very convenient argument for the hoarders.

      Because it's funny how the wealth disparity grows as taxes for the wealthy are cut.

      Cause and motherfucking effect.


      "We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can't have both." - Louis Brandies

      by Pescadero Bill on Wed Sep 11, 2013 at 10:11:04 AM PDT

      [ Parent ]

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