income inequality

Inequality in the USA (also, we have a flat tax system)

Conservatives are fond of citing how much of the tax burden is carried by the rich.   These usually consider only income taxes, not including payroll taxes.  A wonderful example is provided in “An Obama Gift for K Street“, Robert J. Samuelson, Washington Post, 15 December 15, 2008 — Excerpt: Sure, the wealthy extract privileges from …

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America’s elites reluctantly impose a client-patron system

Summary:  This campaign season has seen many demands for political change.  Our elites are responding, but perhaps not in the ways most people want.  Large-scale immigration over decades will greatly change America.  Given our high degree of inequality of wealth and income plus our low degree of social mobility, an underclass might result.  Given that many of them will be from Latin …

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A sad picture of America, but important for us to understand

Looking in the mirror is the first step to growth and reform for an individual and a nation.  Look at this graph.  Compared to other nations we have both a high degree of income inequality AND low social mobility (fathers’ and sons’ incomes are highly correlated).  This has many consequences, none of them good.  Esp …

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