Federal Reserve chair calls income inequality the biggest challenge in next 10 years

Jul 2013
56,280
61,383
Nashville, TN
#31
Ayn was no economist. If she was anything, she was a philosopher. No one takes her seriously, she is someone you read as a teen or college student and then dismiss once you grow up.
She was a crackpot and has accumulated a cult of followers that all think they embody the characteristics of one of her cardboard cutout "heroes". The sad part is many of them never seem to outgrow it.
 
Sep 2012
4,009
4,002
California
#32
She was a crackpot and has accumulated a cult of followers that all think they embody the characteristics of one of her cardboard cutout "heroes". The sad part is many of them never seem to outgrow it.
It still amazes me that she is so popular with the right wing. This person should watch the movie made about her life with Helen Mirren. It was pretty darn accurate. Or he could look up Mike Wallace's old show from the 50s, he interviews Ayn and its pretty startling.
 
Dec 2018
4,276
1,607
Florida
#33
The reason excessive income inequality is bad is because it means that the powerful are able to purchase our government, which is happening as we speak (especially since money was declared speech and then Citizens United came along).
This is a bit? Fallacious? The rich ALWAYS be able to purchase the government. And if there are no rich? It will be the people IN government that will be rich and corrupt. Soviet Union? China? Cuba? France pre French Revolution. France after the revolution (during their revolutionary government)? France under Bonaparte? Nazi Germany? There are plenty of examples. Government will always be susceptible to bribes and corruption regardless of income equality because of the nature of what they do.

In America? You would have to make it illegal to lobby. And neither party will allow that.

Also, money in an economy is like blood in a body. It's bad if blood accumulates in one area of the body and other areas aren't getting enough. That is also happening as we speak. Only certain sectors of our economy are doing well. So, excessive income inequality is bad for our form of government and also for our economic system. You can't have a viable capitalist economy if only the wealthy are doing the buying. They can't buy enough products or services to maintain a healthy economy.
No. But who do they buy from and where does that wealth go? How do they get wealthy? You can tax the rich and expect the poor to become rich or wealthy through tax. It just doesn’t work that way. It isn’t sustainable. The working class needs stable gainful work. And they need to be able to afford the things they are spending on. Life liberty and pursuit of happiness.
 
Jan 2007
37,264
8,488
#34
Is this more of your professed fear of the dilution of the white race? Because I don't know how that plays into economics.
Income inequality. Bringing in more poor is supposed to help our wealth distribution? You brought up race. Since you brought up race, do you want to see the white race diminished in relation to thew world's population? This poverty population you support bringing in, are you willing to share your wealth with them?
 
Dec 2018
4,276
1,607
Florida
#36
If you check the OECD countries you will find that almost all of them have better economic mobility than the US, that did not use to be the case. What changed? Supply side economics has destroyed the mobility of the working and middle class in this country. A failed ideology that keeps getting tried, and tried, and tried, always failing, always hurting the economy in the long term.
Should we strive for total economic equality?
 
Sep 2012
4,009
4,002
California
#37
Do you know anything about Marx? Of course he was an economist and a philosopher. It seems to me that you really do not understand Ayn Rand at all if you equate her career and writings with Marx. Ayn was not an economist, no one considers her an economist. Marx on the other hand was one of the most influential economists that ever lived.
 

boontito

Future Staff
Jan 2008
106,947
97,820
Most Insidious
#39
Income inequality. Bringing in more poor is supposed to help our wealth distribution? You brought up race.
Actually, it was you who brought up race. You're a lot more simple and transparent than you think. You warned against bringing poor immigrants into the country, but strangely you must think we get no poor immigrants from Western countries... because you never single them out or even include them. Why is that?

So lets import more uneducated poverty. With automation replacing humans, this should be be a great success on "income inequality" Lets let in Central America, North Africa, Afghanistan, Bangladesh and such. . As the AOC types want to broaden and expand the give -aways & welfare system . Should be a smashing success.
It's all about your professed worry about the dilution of the White race.
 
Dec 2018
4,276
1,607
Florida
#40
No one is advocating that so why go there? You need to curb the ego and try to understand other people, this line you are defending is petulant and childish.
“No one is advocating that (economic equality).”

“Our problem is economic inequality.”

These 2 statements are contradictory. Of course. Why would you want to address it? Because you know it undermines your point.

Btw. Telling someone to cut with the ego and then calling their points childish and petulant? Were you being intentionally ironic here? Hypocrisy, thy name is _____
 
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