Half of Americans pay no income tax; 1 in 10 pay 70% of all revenue

Feb 24, 2021
8:14:40pm

BYU'01 All-American

The government is not driving income inequality. A lot of Americans are deciding that they are wealthier than 99% of all others in human history and choosing to use their time other than to become even more wealthy.

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BYU'01

Bio page: BYU'01
Joined: Jan 18, 2003
Last login: Apr 30, 2024
Total posts: 7,628 (116 FO)

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Messages

Author

Time

A world-renowned economist gave the forum address at BYU yesterday. She spent

elmerfudd

2/24/21 7:51am

Aren't you a millionaire?

CopperLix

2/24/21 7:54am

So she's ragging on billionaires while married to one? Give up your fortune, THEN you can lecture us about billionaires.

BlueBlood94

2/24/21 7:56am

There are billionaires in Provo?

TNT

2/24/21 7:57am

Yup. he's the cofounder of qualtrics

elmerfudd

2/24/21 7:59am

Wow. Interesting

TNT

2/24/21 7:59am

Was that Ryan's brother?

jwf

2/24/21 8:09am

Wealth inequality is a huge issue but not an easy issue to address in the short

Baron

2/24/21 8:00am

and taxation never works. Education is the key

Nat Gas Man

2/24/21 8:22am

I agree with her

bluelands

2/24/21 8:05am

What was her solution. Easy to say something is a problem.

BYU71

2/24/21 8:11am

Obviously not voluntarily giving up her own wealth... rules for thee

kotacoug

2/24/21 8:20am

Probably propose higher tax rates. Sounds good but they will still

BYU71

2/24/21 8:50am

So a woman is really just bagging on her husband?

rcbyufan

2/24/21 8:15am

Wealth inequality is a real problem and it keeps getting worse, especially in

Fargo

2/24/21 8:43am

What is your solution??

BYU71

2/24/21 8:52am

I agree with you. She cited the stat we've all heard about how like the 10

elmerfudd

2/24/21 8:53am

This is not a capitalism issue, without capitalism the money these people have

Pretorian

2/24/21 9:13am

I agree capitalism IS the answer, but let’s not pretend we’ve been practicing

westcoastcoug

2/24/21 6:52pm

Ok what have we been practicing?

Pretorian

2/25/21 5:23am

Is it wealth inequality or is it that the bottom x% live in poverty? I am far

NewMexiCoug

2/24/21 8:59am

I think they’re eluding to those that don’t have enough to go to six flags...

Pretorian

2/24/21 9:15am

I'll tell you what you're missing

Blue Cougar

2/24/21 3:56pm

Um, 'wealth inequality' exists, but isn't a problem. Wealth has increased

Benfica1

2/24/21 9:14am

The rich don’t just have the money sitting around gathering dust. Most of it is

Nat Gas Man

2/24/21 3:59pm

Where if the middle class had that money, it would be...?

rtNelson

2/25/21 4:00am

Spent on existing things but no new businesses created. It is t that much money

Nat Gas Man

2/25/21 11:38am

What do the rich people do with their cash when it’s not tied up? Spend it.

Powerbait DPM

2/25/21 8:02am

exactly.

Benfica1

2/25/21 11:34am

Why do you care if someone else is successful. It is not a zero sum game.

coolblue

2/24/21 9:16am

Income inequality isn't bad if the standard of living is still

CaliforniaCougar22

2/24/21 10:13am

So let's have the government take it. They always produce good results.

coolblue

2/24/21 10:26am

Adjusted for inflation, hourly wages had the same purchasing power

CaliforniaCougar22

2/24/21 10:45am

This doesn’t factor in other benefits people clearly receive now that didn’t

Pretorian

2/24/21 11:41am

I see your logic, is it true that only the wealthy are benefiting in the current

Pretorian

2/24/21 11:35am

The current economic environment is disadvantageous to

CaliforniaCougar22

2/24/21 2:48pm

YES IT IS a zero sum game

BingoNY

2/24/21 11:29am

You do realize that money isn’t finite right...?

Pretorian

2/24/21 11:41am

What are you talking about?!!

BingoNY

2/24/21 1:21pm

Inflation.... money changes all the time in fact

Pretorian

2/25/21 5:13am

Land being concentrated in the hands of just a few is a good example of this.

Mitty

2/24/21 1:30pm

Land does make more sense here

Pretorian

2/25/21 5:25am

But everyone can get food and a smartphone and lots of other things that WOULDNT

jkccoug

2/24/21 2:23pm

Wow. Could read up on neo-feudalism and the facts of wage stagnation. It's ok

Mitty

2/24/21 1:36pm

Malthus was wrong 300 years ago and he’s wrong now.

jkccoug

2/24/21 2:24pm

RE: Wealth inequality is a real problem and it keeps getting worse, especially

Ned Schneebly

2/24/21 9:38am

Watching this video should be a requirement for commenting on this thread.

tony

2/24/21 3:58pm

How does this get 5 thumbs down? I am conservative and it is easy for me to see

CaliforniaCougar22

2/24/21 10:07am

Then watch the video I posted above. It covers the basics.

Ned Schneebly

2/24/21 11:47am

If money isn’t the most important measure, let alone the only one, why is non-

BYU'01

2/24/21 5:39pm

The way I see it, the problem is that regardless of

CaliforniaCougar22

2/24/21 7:56pm

Half of Americans pay no income tax; 1 in 10 pay 70% of all revenue

BYU'01

2/24/21 8:14pm

Wow, shocked at the thumbs down, but I guess I shouldn't be given the

Mitty

2/24/21 1:31pm

Typical

Pretorian

2/24/21 9:01am

So why again is wealth inequality a bad thing?

Hank Rearden

2/24/21 9:03am

Because some people believe that equal outcomes are possible and desirable.

cdr88

2/24/21 9:48am

If the wealth inequality gets so large that people can't catch up

Baron

2/24/21 9:57am

Catch up to what?

Benfica1

2/24/21 1:00pm

The idea behind it is that there are these people at the top with more money than they could even spend, while others

Alpi Gusto

2/24/21 10:03am

I agree with you. But when the theme is Income Inequality and the battle cry is

NewMexiCoug

2/24/21 10:51am

and what system has the best track record when it comes to Poverty Elimination?

lukeskywalker

2/26/21 11:45am

Seriously? Do words like "feudalism" and "slavery" have any meaning to you?

Mitty

2/24/21 1:37pm

Strawman.

Benfica1

2/24/21 3:18pm

It’s not about equality as much as withdrawal of large sums of money from

westcoastcoug

2/24/21 6:56pm

Your hypothesis is verifiable (& wrong). Money supply has been growing

BYU'01

2/24/21 7:27pm

I was there and this seems like a misrepresentation of what she said

y2kougar

2/24/21 10:01am

RE: I was there and this seems like a misrepresentation of what she said

WifeofCBaddict

2/24/21 10:07am

<< Deleted >>

elmerfudd

2/24/21 10:38am

Part of the problem is how we define wealth.

HenderCoug

2/24/21 10:26am

What does it mean to live a “comfortable lifestyle”? Does it mean zero risk?

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