Any money that is saved rather than spent attracts more money through investment and interest. The rich spend a lower percentage of their money, approaching zero percent as they get richer. More and more of their money is put to work making more. Poorer people, on the other hand, work for every penny, then have to spend it to buy food and pay rent. They don't attract any money. That's why we need highly progressive tax structures--because otherwise the money just gets sucked up the pipe, and just enriches those who all already have more than everyone else at the expense of those who have little.
Capitalism ultimately favours a state where all the wealth is concentrated at one point. It's around this point where the guillotines will be dragged out again.
Incentives are fine to a point, but when caveat emptor capitalism forces working men and women to chose between being virtual slaves or letting their children starve, that just ain't right.
great example of how to use stats to back up any story you can think of... i remember them warning about this in stats class. i was hoping to see some good info, but instead i'm met with a poorly researched political message. lame.Comment is buried, click here to see the rest.
This is the simple effect of interest and banking system .. money making money ... just imagine what a billion would make if it was in a fix deposit adjusting for inflation and all .. so it makes sense .. those rich have businesses that make money and the money in banks is also invested and making money while sitting and doing nothing .. they ought to get richer and richer and eat out of the poor mans money if the government and business can not make enough money to fulfill the needs of the loan and interest servicingComment is buried, click here to see the rest.
At first I thought, "wow that is biased" but then I remembered that historically the republicans and the democrats switched places so comparing to far in the past only complicates the issue.Comment is buried, click here to see the rest.
Too many people confuse equity in opportunity with equity in outcome. They are very different. Inequality makes for a powerful incentive. The inequality of incomes drives millions of people to our universities each year. It keeps millions of young people from dropping out of school. Inequality can be a powerful force for progress. Also, the necessities and conveniences of life have become dramatically cheaper for poor people and they’ve improved enormously.
The Democratic Party fails to account for the fact that people respond to incentives. That is why so many of them dislike market forces. I'll be living out the rest of my life sitting back while the market forces fan me, while feeding me grapes.Comment is buried, click here to see the rest.
lamehephaestusSep 12, 2010Buried
Any money that is saved rather than spent attracts more money through investment and interest. The rich spend a lower percentage of their money, approaching zero percent as they get richer. More and more of their money is put to work making more. Poorer people, on the other hand, work for every penny, then have to spend it to buy food and pay rent. They don't attract any money. That's why we need highly progressive tax structures--because otherwise the money just gets sucked up the pipe, and just enriches those who all already have more than everyone else at the expense of those who have little.
CrispGreenSep 12, 2010Buried
Wow. Kind of a disturbing trend.
woollymittensSep 12, 2010Buried
Capitalism ultimately favours a state where all the wealth is concentrated at one point. It's around this point where the guillotines will be dragged out again.
seleniumsodaSep 12, 2010Buried
Omg something that isn't total s**t on digg
novenatorSep 11, 2010Buried
Incentives are fine to a point, but when caveat emptor capitalism forces working men and women to chose between being virtual slaves or letting their children starve, that just ain't right.
oriondrSep 12, 2010Buried
Incentives like... well paying jobs? Yeah those are hard to come by.
" Inequality makes for a powerful incentive." <- hahaha that's classic backward ass thinking.
woollymittensSep 12, 2010Buried
There are no incentives for the vast majority of the working class anymore.
tryplaySep 12, 2010Buried
www.trickler.org
See how your pay and the US would change in a more equal or less equal economy.
sdelmegeSep 12, 2010Buried
great example of how to use stats to back up any story you can think of... i remember them warning about this in stats class. i was hoping to see some good info, but instead i'm met with a poorly researched political message. lame.Comment is buried, click here to see the rest.
umairsandhuibaSep 11, 2010Buried
This is the simple effect of interest and banking system .. money making money ... just imagine what a billion would make if it was in a fix deposit adjusting for inflation and all .. so it makes sense .. those rich have businesses that make money and the money in banks is also invested and making money while sitting and doing nothing .. they ought to get richer and richer and eat out of the poor mans money if the government and business can not make enough money to fulfill the needs of the loan and interest servicingComment is buried, click here to see the rest.
angelbunnySep 12, 2010Buried
At first I thought, "wow that is biased" but then I remembered that historically the republicans and the democrats switched places so comparing to far in the past only complicates the issue.Comment is buried, click here to see the rest.
elwoodbluesSep 12, 2010Buried
sponsored by?
greevarSep 11, 2010Buried
This visual guide was brought to you by Prozac.
alanocuSep 11, 2010Buried
Too many people confuse equity in opportunity with equity in outcome. They are very different. Inequality makes for a powerful incentive. The inequality of incomes drives millions of people to our universities each year. It keeps millions of young people from dropping out of school. Inequality can be a powerful force for progress. Also, the necessities and conveniences of life have become dramatically cheaper for poor people and they’ve improved enormously.
The Democratic Party fails to account for the fact that people respond to incentives. That is why so many of them dislike market forces. I'll be living out the rest of my life sitting back while the market forces fan me, while feeding me grapes.Comment is buried, click here to see the rest.