tag:blogger.com,1999:blog-3395111825224617694.post5431678191036224214..comments2023-12-18T16:32:44.437-08:00Comments on Caveat Emptor: Why income inequality is a bogus argumentH.A. Blackhttp://www.blogger.com/profile/09028988783310116580noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3395111825224617694.post-84596191601955566942012-01-16T14:16:26.418-08:002012-01-16T14:16:26.418-08:00John, I may not like the fair tax but I do favor t...John, I may not like the fair tax but I do favor the flat tax. I am not convinced that we have exported the good paying jobs to China and replaced them with fast food jobs. However, I do agree that if we constrain all the job killing regulations that do little good - except sound good to the uninformed - and eliminated the corporate income tax on income both foreign and domestic, we will have a job boom. Just a simple example is the dustup over the Keystone pipeline.H.A. Blackhttps://www.blogger.com/profile/09028988783310116580noreply@blogger.comtag:blogger.com,1999:blog-3395111825224617694.post-67975584372832715192012-01-11T23:28:44.029-08:002012-01-11T23:28:44.029-08:00I look at it much more simply. We do have a growin...I look at it much more simply. We do have a growing difference between the rich and the poor... but the reason is the loss of the middle class mostly from manufacturing jobs shipped to China or Mexico since the late 90's. The top earners made more profit from the cheaper products and the middle class mostly went to lower paying jobs. The politicians, I think, were sold on "the cheaper price of goods, will actually make the money that people earn go farther." .... which is true on the surface but doesn't look into the future of creating a fast food and gas station service sector style economy that is only waiting for a bump in the road to create a very long lasting problem- where we are now.<br /> When most people are working low paying jobs servicing others needs, and those people are buying less bc they are broke too, your economy will fall to a baseline of sorts- minimum needs of the people to survive(not there yet). <br /> The only way we can get out of it is to remove all corporate taxes- paid by consumers anyway- to help level the playing field with China, for manufacturers to slowly come back. And enact some sort of consumption tax to drag in taxes from illegal sources (30B in drugs annually) and the rich who chose to spend their money. I fear a slow drift to the edge of the waterfall if we don't enact this soon. <br />I know you disagree with the Fair Tax, but we need something other than the massive tax law book mess we have now.<br /> The repub nominee shouldn't deny or ignore the income inequality attacks bc the people feel the truth. They should acknowledge it, and every political party's responsibility in getting us here, and show a path to get back jobs from China through corp. tax removal etc. <br /> sorry to write a novel here, but this is the only issue that matters in this election.John in Kynoreply@blogger.com