6 Free Financial Modeling Lessons...and More.

(Human, 13,508

Points)

on 5/1/12 at 11:42am

This is how the story should go:

Someone who has more than me has even more. This makes me angry. Should we use the government to steal from them because I don't have the balls to just rob their house myself?

If you feel entitled to someone else's wealth, just go get a gun and redistribute it yourself. Same damn thing as ganging up in a mob and using the government to do your dirty work for you.

I think the trend is probably

(Almost Human, 9,216

Points)

on 5/1/12 at 12:44pm

I think the trend is probably going to come to an end over the next 10-15 years and US ginis will be somewhere back in the 40s by the time we're done.

China is running out of cheap labor.

Facebook or Google, even Apple, is five years from becoming the next RIM.

Global food prices are rising, putting pressures on the growth of the global labor supply, and the US is going to make sure its citizens get fed first.

Let's call the period from 1933-1980 a historical divergence, but even if you factor that period out, ginis in the US have generally hovered around 40-50 during the 20th and much of the 19th century. I would also argue that progressivism- providing more information to consumers, balancing bargaining power between business and labor, and reducing negative externalities from 1890-1920 was merely a natural response to the industrial revolution in any government that John Locke and Adam Smith would call a classically liberal (libertarian) one.

In 30 years, the US will be more equal. People will start to understand the externalities of the tech and financial revolution and there will be a regulatory response to those externalities which will probably check a lot of the growth in ginis. On top of that, the world will run out of food (the US is fairly safe; we're the world's largest grain exporter), so labor prices will be forced up.

We need to focus on maintaining cheap postsecondary STEM educations at public schools.

We need to focus on finding noncoercive ways of keeping population growth- especially among folks who depend on the government- under control.

We need to focus on protecting the environment especially in the grain-producing regions of the country.

We need to make sure the middle-class and poor remember that rich people are a blessing, not a curse.

If we do those four things, everyone will wind up benefitting when income disparity begins contracting again.

If you feel entitled to someone else's wealth, just go get a gun and redistribute it yourself. Same damn thing as ganging up in a mob and using the government to do your dirty work for you.

Interestingly, that is what happened in Iraq when the Saddam regime fell. A lot of folks with connections to the Saddam regime- and therefore a lot of money- had their homes looted and their assets taken.

Work hard, play hard.

Yeah, and look at Iraq's

(Human, 13,508

Points)

on 5/1/12 at 12:57pm

Yeah, and look at Iraq's wonderful economy.

If you take the richest 100 people and take every penny of their wealth (at book value) you would not be able to even bridge the budget deficit for this year, let along pay down debt or fix over spending. Once we get into this mob mentality where we tax the hell out of the rich to satisfy a childish concept of fair, this country is D O N E.

The rich will pay and then leave. Or they will hire elsewhere. Punitive taxation comes with a general animosity within society. Considering that there are tons of other places with nice standards of living and maybe just as high taxes, but without the hatred, the rich will leave.

We have a spending problem in this country. We have a nation that enjoys a service, but does not realize the cost. We have a country of jealous people.

This Va-gini ration is great when looking at the Middle East or something. Dirt poor and uber rich. In the US you have a poverty level that includes an apartment, LCD TV, amenities, free healthcare, free K-12, food stamps, etc. Yeah, sucks, no doubt, but it isn't like Robin Hood days where all the deer were the kings and you have the rich and the starving.

So yes, if I was poor I would be jealous, no doubt. But this isn't about rich and destitute. This isn't grapes of wrath. This is I have stuff, but someone has more stuff and I want it. It is a materially driven Gini.

I would 100% support higher taxes if you had a Solyant Green level of income disparity, but we do not have this. We have people in Honda Civics wanting higher taxes because they are jealous of the guy in the 7 series. That is a societal problem, not an income disparity issue.

Go to a gas station with an American running the register. They will be playing on their phone, not doing their job. Go to a gas station with an Indian/Paki on the register. They will be doing their job and working hard.

Why? Because one realizes what is like to be from a poor country and the other is looking for a hand out. To feed into this parasitic behavior is to cast this nation down a hole from which we will never return.

TNA: Yeah, and look at Iraq's

(Almost Human, 9,216

Points)

on 5/1/12 at 1:14pm

TNA:

Yeah, and look at Iraq's wonderful economy.

It's growing. Debasing Saddam's cronies helped restore social order faster. The US succeeded in Iraq where the British, the Turkish, heck, Alexander the Great all failed. We now have a somewhat stable country.

Maybe. But folks said that in the 1930s, too. Probably a better way of putting it is that it hurts more than it helps, economically.

We control the world's grain supply. And we're the only country in the world that could find Osama Bin Laden. If we REALLY wanted to- and I'm not advocating this- we could cap incomes globally. China has the only military that could stand up to us, but we have them checkmated since we control their food.

We have a spending problem in this country. We have a nation that enjoys a service, but does not realize the cost. We have a country of jealous people.

Don't disagree with you. Just think that jealousy is human nature and you can't complain about it; you just have to work with it and around it.

Dirt poor and uber rich. In the US you have a poverty level that includes an apartment, LCD TV, amenities, free healthcare, free K-12, food stamps, etc. Yeah, sucks, no doubt, but it isn't like Robin Hood days where all the deer were the kings and you have the rich and the starving.

That was the '70s. If you look around, New York and most cities have a terrible homeless problem.

Again, jealousy is a natural human instinct that we have to work around. It is unavoidable and it is real. It is one of those economic brick walls that Austrians love to talk about, but they can't mention this one. It is tough to get much higher than ginis of 60 in a Democratic country.

Again, folks said that in the 30s. Socialism didn't help us economically, but it saved us from "It Can't Happen Here." 1890-1910 progressivism DID help us economically and also helped keep us from having a revolution.

Work hard, play hard.

Food shortages? Our imminent

(Baboon, 106

Points)

on 5/1/12 at 1:25pm

Food shortages? Our imminent demise is always greatly exagerrated. Remember the Simon-Ehrlich bet? (Simon won).

Related article (not to Simon-Ehrlich but food shortages in general) https://pop.org/content/myth-of-world-food-shortag...

They won't hit the US. But

(Almost Human, 9,216

Points)

on 5/1/12 at 1:28pm

They won't hit the US. But they're already hitting some of the poorer MENA countries, even China, explaining a lot of the rioting. Might get to Greece by the time we are done.

Work hard, play hard.

There is poor and then there

(Human, 13,508

Points)

on 5/1/12 at 1:41pm

There is poor and then there is destitute. The people clamoring for higher taxes on the rich are not homeless people. Besides, the Buffet rule will not do anything to fix the economy.

Yes, jealousy is a human emotion, but so is hatred and racism. Non of which should be encouraged or particularly listened to. And yes, the voting rights of the least informed is the biggest problem with Democracy.

You know that welfare makes

(Baboon, 106

Points)

on 5/1/12 at 2:09pm

You know that welfare makes up 11% of the 2012 federal budget, right? Defense makes up 23%... Did you know the interest on our debt is almost half of what we spend on welfare? Education is allocated a minuscule 4%. Cut spending on EVERYTHING and raise taxes on EVERYONE... It's the solution that will never happen. And we shouldn't blame the politicians, if they stand up for that happy compromise they don't get re-elected. The more polarized we become the less we can achieve.

Yes, jealousy is a human

(Almost Human, 9,216

Points)

on 5/1/12 at 2:29pm

The difference is that jealousy doesn't really threaten anyone's freedom, and when jealousy gets acted on, it sometimes makes the world a better place. Some level of correction for income inequality has been around for thousands of years, and it generally makes societies healthier as long as it has well-defined limits.

Jealousy ("Fairness") can be good sometimes. Conservatives simply choose to see it as bad and call it "Jealousy", liberals see it as good and call it "Fairness". In reality it was probably "Jealousy" in 1975, it was probably "Fairness" in 1905, and one day, it will probably be "Fairness" again. I'm not sure we've hit that point, but I don't think that we should be saying it's a good thing for income inequality to rise indefinitely. Nobody would say the same thing about P/E ratios.

Work hard, play hard.

Yes the rich should be taxed

PetEng

(Gorilla, 746

Points)

on 5/1/12 at 2:33pm

Yes the rich should be taxed more. The poor should be as well.

Certain taxation quirks should be ended (carried interest, estate tax).

-1

I think the rich should be

(Almost Human, 9,216

Points)

on 5/1/12 at 2:39pm

I think the rich should be taxed less. Government is terribly inefficient in a lot of areas, especially on poverty. But the upshot is that the rich should be required to give to 501c3s to replace the taxation.

Let the rich define the US's social policy. Let them figure out how we make the country a better place.

Work hard, play hard.

Trickle down theory? I like

(Baboon, 106

Points)

on 5/1/12 at 2:40pm

Trickle down theory? I like it! It's a win-win scenario. No, wait, I think I switched it around. It's a win-get fucked scenario. There it is.

IlliniProgrammer: I think the

Nouveau Richie

(Neanderthal, 2,779

Points)

on 5/1/12 at 2:49pm

Wait until you get a load of

(Baboon, 106

Points)

on 5/1/12 at 3:04pm

killfrankgoreshead: Wait

(Almost Human, 9,216

Points)

on 5/1/12 at 3:25pm

Work hard, play hard.

Why wouldn't they be happy

(Baboon, 106

Points)

on 5/1/12 at 3:34pm

killfrankgoreshead: Why

(Almost Human, 9,216

Points)

on 5/1/12 at 4:01pm

Work hard, play hard.

Objective number 1: give to

(Baboon, 106

Points)

on 5/1/12 at 4:22pm

Seriously... I could actually

(Baboon, 106

Points)

on 5/1/12 at 4:45pm

killfrankgoreshead: Seriously

(Almost Human, 9,216

Points)

on 5/1/12 at 4:55pm

Work hard, play hard.

http://www.nolo.com/legal-enc

(Baboon, 106

Points)

on 5/1/12 at 5:07pm

That's for forming a

(Almost Human, 9,216

Points)

on 5/1/12 at 5:13pm

Work hard, play hard.

When I set up the charity and

(Baboon, 106

Points)

on 5/1/12 at 5:21pm

Anyway, tightening the 501c3

(Baboon, 106

Points)

on 5/1/12 at 5:24pm

When I set up the charity and

(Almost Human, 9,216

Points)

on 5/1/12 at 5:25pm

Work hard, play hard.

Any laws punishing the rich

(Human, 13,508

Points)

on 5/1/12 at 5:32pm

TNA: Any laws punishing the

(Almost Human, 9,216

Points)

on 5/1/12 at 5:42pm

Work hard, play hard.

Alright. We've run through

(Baboon, 106

Points)

on 5/1/12 at 5:43pm

IP, you and I both know that

(Human, 13,508

Points)

on 5/1/12 at 5:44pm

You, IP, me, every other sane

(Baboon, 106

Points)

on 5/1/12 at 5:52pm

TNA: IP, you and I both know

(Almost Human, 9,216

Points)

on 5/1/12 at 6:06pm

Work hard, play hard.

Oh yeah, it is the GOP huh? I

(Human, 13,508

Points)

on 5/1/12 at 6:06pm

30% of my check goes to taxes

(Human, 13,508

Points)

on 5/1/12 at 6:07pm

Take a look at the other 70%,

(Almost Human, 9,216

Points)

on 5/1/12 at 6:08pm

Work hard, play hard.

IlliniProgrammer: TNA: IP,

(Human, 13,508

Points)

on 5/1/12 at 6:10pm

Unfortunately, politicians

(Almost Human, 9,216

Points)

on 5/1/12 at 6:12pm

Work hard, play hard.

I don't see the dems signing

(Baboon, 106

Points)

on 5/1/12 at 6:14pm

Starve it. Reality will come

(Human, 13,508

Points)

on 5/1/12 at 6:15pm

killfrankgoreshead: I don't

(Human, 13,508

Points)

on 5/1/12 at 6:16pm

The point, might I add, was

(Baboon, 106

Points)

on 5/1/12 at 6:19pm

The point, might I add, was

(Baboon, 106

Points)

on 5/1/12 at 6:20pm

Yeah because the GOP never

(Baboon, 106

Points)

on 5/1/12 at 6:25pm

It is pretty obvious that

(Human, 13,508

Points)

on 5/1/12 at 6:27pm

killfrankgoreshead: Yeah

(Human, 13,508

Points)

on 5/1/12 at 6:29pm

Yeah because the GOP never

(Almost Human, 9,216

Points)

on 5/1/12 at 6:36pm

Work hard, play hard.

"It is pretty obvious that

(Baboon, 106

Points)

on 5/1/12 at 6:38pm

I fail to see how anything I

(Human, 13,508

Points)

on 5/1/12 at 6:46pm