Income inequality: exactly how much money should a person or corporation make?

[rudeguy]

This "income inequality" thing is still talked about and I don't understand it.

How much should a corporation make?
How much should a person make?
How much should a person get paid not to work?


On a related note, how is it right that I have to work my butt off to put food on the table, a roof over my family's head, internet and phone service, 2 cars, heat, ETC. but millions of people do not have to work to get those things? How is it right that the government takes money from me, to pay for those things for other people?

 

[Cozarkian]

The simple answer is that companies/people should have profits/wages in the amount that would be provided under perfect market conditions. The problem is that perfect market conditions are impossible to achieve because they violate the laws of physics. To give a quick illustration, a perfect market would require that you are instantly aware of every job opening in the world for which you are qualified and are able to instantly relocate without any transportation costs.

A common justification for why we don't allow people to simply starve death if they are unwilling or unable to work is the following: People facing dire circumstances, even if caused by their own laziness, are more likely to resort to theft to survive. Stealing endangers lives, causes appreciable harm to the victim, and places a burden on society in the form of policing, prosecuting, and imprisoning criminals.

Between the economic consideration of reducing the costs of potential crime and the ethical/emotional considerations of standing by watching people die because they can't get enough food/shelter/clothing, society, through its elected representatives, decided to implement safety measures in the form of welfare and other social programs.

 

[DCal430]

We need an excessive wealth tax. 5% tax on net wealth from 1 to 10 million, 10% on wealth from 10 to 100 million, and 20% tax on all net wealth over 100 million. This will be every year.

 

[FerrelGeek]

The government should regulate this. They should determine the proper wage for every profession and what a corporation should be allowed to make, given the product/service that they provide. Anything in excess should go to the government so that they can distribute the money as they deem necessary.

 

[rudeguy]

3 replies, no answers to the questions.

 

[jhbball]

This "income inequality" thing is still talked about and I don't understand it.

How much should a corporation make?
How much should a person make?
How much should a person get paid not to work?


On a related note, how is it right that I have to work my butt off to put food on the table, a roof over my family's head, internet and phone service, 2 cars, heat, ETC. but millions of people do not have to work to get those things? How is it right that the government takes money from me, to pay for those things for other people?

Oh, this fucking shit again.

 

[Newell Steamer]

,... I don't understand it.

You do understand it.

It exists; http://www.payscale.com/data-packages/ceo-income

You just don't understand why anyone should care about it. Or, if anything should be done about it. This isn't a thread about "what is the problem" - this is a thread about "is there a problem".

You are stating there is not.

Now, since the government should not get involved in 'padding' people's incomes,.. do you feel the same about the government padding corporation's profits with subsidies?

What I can't figure out, is how people make such a huge deal over a peanut butter & jelly sandwich school lunch, but, don't seem to bat an eye when corporations are cranking out billions in profits and STILL receiving corporate subsidies.

 

[Newell Steamer]

3 replies, no answers to the questions.

How much should a corporation make?
Whatever it can, without government intervention - few to little local tax incentives and certainly no subsidies - this is a business. Either it knows how to operate properly or it doesn't.

How much should a person make?
~23% more than what they are currently making; http://www.reuters.com/article/2014/08/11/us-usa-mayors-jobs-idUSKBN0GB1T920140811

How much should a person get paid not to work?
If they are sick, hurt or disabled - an amount that covers their needs as best as possible.

 

[boomerang]

Now, since the government should not get involved in 'padding' people's incomes,.. do you feel the same about the government padding corporation's profits with subsidies?

What I can't figure out, is how people make such a huge deal over a peanut butter & jelly sandwich school lunch, but, don't seem to bat an eye when corporations are cranking out billions in profits and STILL receiving corporate subsidies.

But corporations are people and people have their profits padded with government subsidies. Yet you feel that the two should be treated differently.

 

[her209]

I think a person ("corporations are people too") should be able to negotiate how much they should be compensated. In other words, government should not have a say in how much a person gets paid. Similarly, government should not have a say if employees want to collectively bargain with their employers for higher pay.

 

[Newell Steamer]

But corporations are people and people have their profits padded with government subsidies. Yet you feel that the two should be treated differently.

A corporation is a group of highly capable people making a huge amount of money who have plans to capitalize, galvanize and whatever-ize a market,... for more money.

A person is someone who can be, and has been, herded into a corner; http://www.reuters.com/article/2014/08/11/us-usa-mayors-jobs-idUSKBN0GB1T920140811 - all for more corporate profits.

 

[Cozarkian]

3 replies, no answers to the questions.

Um, I answered the first 3 questions with my first sentence. Just because the answer isn't particularly useful because it is impossible to implement, doesn't mean it isn't the right answer.

For example, "travel faster than the speed of light" is a correct answer to the question "how can I get to the planet Mars in less than 2 days?"

 

[Cozarkian]

A corporation is a group of highly capable people making a huge amount of money who have plans to capitalize, galvanize and whatever-ize a market,... for more money.

Not all corporations are groups, not all comprise of people that are highly-capable, and not all make huge amounts of money.

 

[Linux23]

http://www.nbcnewyork.com/news/loca...-York-I-Team-Liazon-Tax-Breaks-278403131.html

'nuff said.

Disguise it as a tax break for new startups but give tax breaks to your already established buddies. These politicians are getting bolder and bolder every day.

 

[Cozarkian]

How much should a person make?
~23% more than what they are currently making

How do you know the fair market value of the wages for jobs that have been gained aren't 23% lower than the fair market value of the wages for the jobs that were previously lost?

If a cop loses his job and later takes a job as a nightclub bouncer at a 23% reduction in salary, that doesn't indicate the former cop is underpaid.

 

[xBiffx]

OP, you aren't going to get an honest answer here. Most in here subscribe to the nonsense that the money you take home is what the government allows you to keep. Afterall, its the government's money first. This is even more the case for corporations.

Edit: Exhibit A is below.

 

[fskimospy]

This "income inequality" thing is still talked about and I don't understand it.

How much should a corporation make?
How much should a person make?
How much should a person get paid not to work?


On a related note, how is it right that I have to work my butt off to put food on the table, a roof over my family's head, internet and phone service, 2 cars, heat, ETC. but millions of people do not have to work to get those things? How is it right that the government takes money from me, to pay for those things for other people?

I always find it funny that just about everyone is convinced that what they have is the result of their hard work alone and that anything that might interfere with that is horribly unfair.

Unless you think that even if you were born in Sub-Saharan Africa that you would have ended up exactly where you are now you've been a recipient of the benefits of our system. Overall you've likely spent a good part of your life where you've paid less in taxes than you got in services. That means in your own life the government has taken money from others and given it to you.

Stew on that for a bit and you might answer your own question.

 

[Hayabusa Rider]

The OP is expressing a common thought, but like most is framing it incorrectly. This really isn't a matter of "what should be made" but "what do those in control allow".

Here's a principle I'll toss out. "Money is nothing, Power is everything".

We've eviscerated the unions, we've offshored our work. We've given the foxes the keys to the hen house. What should one earn? The fox thinks it has the right to feed upon the chickens unfettered. You and I , the chickens, should worry most about that.

 

[Matt1970]

I always find it funny that just about everyone is convinced that what they have is the result of their hard work alone and that anything that might interfere with that is horribly unfair.

Unless you think that even if you were born in Sub-Saharan Africa that you would have ended up exactly where you are now you've been a recipient of the benefits of our system. Overall you've likely spent a good part of your life where you've paid less in taxes than you got in services. That means in your own life the government has taken money from others and given it to you.

Stew on that for a bit and you might answer your own question.

I must have missed the part where he said he shouldn't pay any taxes for stuff like roads and police and whatnot.

 

[waggy]

I always find it funny that just about everyone is convinced that what they have is the result of their hard work alone and that anything that might interfere with that is horribly unfair.

Unless you think that even if you were born in Sub-Saharan Africa that you would have ended up exactly where you are now you've been a recipient of the benefits of our system. Overall you've likely spent a good part of your life where you've paid less in taxes than you got in services. That means in your own life the government has taken money from others and given it to you.

Stew on that for a bit and you might answer your own question.

err what the fuck? lol

nobody is saying they don't have to pay taxes, fees etc.

 

[Hayabusa Rider]

That means in your own life the government has taken money from others and given it to you.

The government is as useless as tits on a boar hog. Oh it does something, but it does them stupidly as a rule and very often it goes against us. We could use reformation, but what we'll get is some plan that doesn't do that.

You might say that without government things would be worse. Well certainly that's true and a horribly low standard of competency. Since power buys power I'd love to see the influence of labor increase and be applied in an intelligent way for the benefit of the workers of this nation, we who do what needs to get done.

A quote from "It's a Wonderful Life" where what might be the powers of our day is given a decent scolding.

Just a minute... just a minute. Now, hold on, Mr. Potter. You're right when you say my father was no businessman. I know that. Why he ever started this cheap, penny-ante Building and Loan, I'll never know. But neither you nor anyone else can say anything against his character, because his whole life was... why, in the 25 years since he and his brother, Uncle Billy, started this thing, he never once thought of himself. Isn't that right, Uncle Billy? He didn't save enough money to send Harry away to college, let alone me. But he did help a few people get out of your slums, Mr. Potter, and what's wrong with that? Why... here, you're all businessmen here. Doesn't it make them better citizens? Doesn't it make them better customers? You... you said... what'd you say a minute ago? They had to wait and save their money before they even ought to think of a decent home. Wait? Wait for what? Until their children grow up and leave them? Until they're so old and broken down that they... Do you know how long it takes a working man to save $5,000? Just remember this, Mr. Potter, that this rabble you're talking about... they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath? Anyway, my father didn't think so. People were human beings to him. But to you, a warped, frustrated old man, they're cattle. Well in my book, my father died a much richer man than you'll ever be!

It's quaint and emotional, but it's still largely valid. We do most of the working and living and dying in this country and every citizen has, or should have, his say and that's distinctly not the case.

 

[mizzou]

How much should a corporation make? Whatever they are worth.
How much should a person make? Whatever is reasonable.
How much should a person get paid not to work? As much as needed to keep them from working.

 

[DCal430]

We clearly need limits on what companies can make. Look at drug companies, charging 500 for a pill that may need to be taken nearly every day for life to stay alive. That is exploitation of the dying. Companies shouldn't be able to exploit people for money, especially not the poor and sick .

 

[khon]

What a person should make is a salary that is proportional to the value they create. Unfortunately that is not at all the case currently, hence the problem of income inequality.

What a company should make is as much as possible, while treating their workers and customers fairly.

 

[fskimospy]

err what the fuck? lol

nobody is saying they don't have to pay taxes, fees etc.

He is complaining that money might be taken from him and given to others. If you pay less in taxes than the overall services you get, that's precisely what's happening. It's extremely likely that's happened at parts of his life, so he's probably been just fine with it when he's on the receiving end.

People have an amazing capacity for thinking what they have is purely the result of their own ability and gumption despite huge evidence to the contrary.