@chad The Rich: this news makes us (rightfully) look bad. It's there any way we can convince the middle classes that it's the fault of the poor and or People of color, or the queers, or forgeners?
Other Rich people: We've already been doing that, they already blame those groups for everything.
"The economic consequences of major tax cuts for the rich"
David Hope, Julian Limberg
From the Abstract:
“We find tax cuts for the rich lead to higher income inequality in both the short- and medium-term. In contrast, such reforms do not have any significant effect on economic growth or unemployment. Our results therefore provide strong evidence against the influential political–economic idea that tax cuts for the rich ‘trickle down’ to boost the wider economy.”
Imagine my surprise.
🇳🇱
income inequality shouldnt be seen as a "problem".. if there is a problem then it is simply the quality of life of those with little or no money, or the lack of opportunity for them.
@freemo @patrickgillam @Npars01 @RyeNCode @chad
Small inequality is OK. But when some earn thousands or over a million times what most of us earn, their money makes them so powerful that it threatens democracy itself.
The powerful now own newspapers, social media, everything, and are able to silence the voice of the many.
Any amount of inequality is ok, so long as those with no many remain with a good quality of life and so long as there is equal oppertunity (not outcome) to move along the income spectrum... **if** those two things are met then even income inequality in the most extreme is ok.
As to your point "money makes them so powerful as to treaten democracy itself"... that is a problem with democracy, not money. Yes it should be fixed, by ensuring democracy cant be bought, not by taking away peoples money.
