Census: Half of Americans Are Poor or Low-Income

[Sheilbh]

When Money comes in here burning me in effigy for daring to question that inequality causes lower incomes, which side will you be on?

I think Money'll win on style.

There is a correlation between inequality and things like crime, health problems and social mobility.  It's not the sole cause and may not even be a major one, but I think there's evidence that income inequality over a certain level does have a causal link to those and other social problems.  The UK's over that level, I imagine the US is too. 

[Ideologue]

Per dude.  Married couples we start at 120.  By transfer I mean whatever excellent ideas the Occupy folks, Bernie Sanders, and Michael Moore had, as long as I get my fair share.

Disingenuity noted.

But I dunno.  80k seems a little too low for reaming--I'd say roughly 50% marginal rate.  (Which is meaningless without coming up with a whole stepped system on the fly, but let's say 50% between 60k and 100k.

At around 100k, I think we can start talking semi-confiscatory marginal rates, e.g. such as we had between 1940 and 1980.  80%, perhaps.  90% at 500k.  Perhaps even a true wage cap at 1m or 10m or whatever.

I somewhat dislike household income as a concept.  Each individual should be taxed on their income, rather than employing strategies which reduce tax burden (such as when the averaging effect when applied to grossly disparate incomes will knock the top earner into a lower bracket)--or which penalize.

There is a correlation between inequality and things like crime, health problems and social mobility.  It's not the sole cause and may not even be a major one, but I think there's evidence that income inequality over a certain level does have a causal link to those and other social problems.  The UK's over that level, I imagine the US is too.

Well, I think it probably can be identified as a potential cause for reduced social mobility.  Perhaps crime (envy, perceived unfairness of system).

But generally I think the correlation is just that: when times become bad for other reasons, inequality shoots up along with poverty.  The question is, is that fair?  Of course it's not fair.

What I find interesting is that on occasion the same person will say that "life is not fair" when talking about the poor, then claim unfairness when discussing high tax rates.

[Neil]

And 45k is not that bad for a single income--like Ide said if a family of 4 makes that it's two incomes of 20 grand plus two kids presumably. Which is pretty poor, but not as poor as my family when I was a kid. Not by a long shot. If they live in Manhattan it's a different thing. 45k for a Somali family of four probably means dad is a warlord. You have to have perspective.

Really?  Your parents were making less than $15k between them?  That's pretty poor.

[Razgovory]

Well, duh. That's why they are in the bottom half. 

Next: Half of teams lose a match. Film at 11.

I would have thought even you knew that the economy isn't a zero sum game.

[Sheilbh]

But generally I think the correlation is just that: when times become bad for other reasons, inequality shoots up along with poverty.  The question is, is that fair?  Of course it's not fair.

That doesn't necessarily bother me.  What worries me is how much inequality increased during the good times over the past few decades.  That and the relative decline of the middle class during the good times should be a cause for concern. 

Again for me high tax rates aren't the thing.  I want us to cut our 50% rate.

[Admiral Yi]

Disingenuity noted.

But I dunno.  80k seems a little too low for reaming--I'd say roughly 50% marginal rate.  (Which is meaningless without coming up with a whole stepped system on the fly, but let's say 50% between 60k and 100k.

At around 100k, I think we can start talking semi-confiscatory marginal rates, e.g. such as we had between 1940 and 1980.  80%, perhaps.  90% at 500k.  Perhaps even a true wage cap at 1m or 10m or whatever.

I somewhat dislike household income as a concept.  Each individual should be taxed on their income, rather than employing strategies which reduce tax burden (such as when the averaging effect when applied to grossly disparate incomes will knock the top earner into a lower bracket)--or which penalize.

The exact numbers can be negotiated later on.

I don't see the point of a wage cap.  That doesn't put any silver in my pockets.

[Razgovory]

Actually, what does put money in your pocket, Yi?

[Admiral Yi]

Actually, what does put money in your pocket, Yi?

We are all together now Raz.  We are the 75%! Tax the upper middle class and the millionaires!

[Razgovory]

Actually, what does put money in your pocket, Yi?

We are all together now Raz.  We are the 75%! Tax the upper middle class and the millionaires!

I don't actually make any money.  The government gives me cash so I don't chase people down and bite them.  So I'll repeat the question.

[Caliga]

Yi has a job, doesn't he?

[Ed Anger]

Yi has a job, doesn't he?

Official Languish Master of Questions.

[Razgovory]

Yi has a job, doesn't he?

He did.  Who knows now.

[Monoriu]

HK is one of the most expensive cities on earth, yet the median household income is only about US$28k per year.  So it is hard for me to understand how a $45k income for four can be regarded as "low income."    That's definitely above average here. 

If I have to guess though, the guys making US$28k per year here qualify for basically free public housing.  And free universal health care.  And almost free education up until university. 

[DontSayBanana]

HK is one of the most expensive cities on earth, yet the median household income is only about US$28k per year.  So it is hard for me to understand how a $45k income for four can be regarded as "low income."    That's definitely above average here. 

If I have to guess though, the guys making US$28k per year here qualify for basically free public housing.  And free universal health care.  And almost free education up until university. 

Well, there's a ~$12,000 difference, right there, just from the housing.  And our healthcare is notorious.

[Habbaku]

Well, there's a ~$12,000 difference, right there, just from the housing.  And our healthcare is notorious.

The average housing cost in the USA is nowhere near $1,000/month.