[quote=SK in CV][quote=bearishgurl][quote=flyer]Personally, I think the real crazies in this election are those who actually believe any politician will make a difference in their lives–as time will inevitably tell–but it is fun to watch the show.[/quote]Well flyer, you can be assured that as a former “bureaucrat” myself, I harbor no illusions in this regard :=0
You’ve repeatedly brought up the “wealth gap” here as the biggest problem besetting our country.
Do you have any ideas on how it can be fixed … or at least lessened?[/quote]
I do. It’s taken 35 years to get into this mess. It won’t reverse quickly. It could take decades. The solution is to reverse current tax policy which taxes capital income more preferentially than labor income, and tax labor income at a lower rate than capital income. Flow of savings will then shift towards labor.[/quote]Do you think that tax policy would achieve that? Something tells me those who are in the top 10% will still continue to do well in that kind of tax environment while those depending on minimum wage would still be doing poorly. We all understand the power of compound interest, so, I think this tax proposal wouldn’t slow down the widening wealth gap. I think you’d need to be much more forceful to truly close the gap, if that’s your goal.
