3 ms·
Hey, this article isn't news! US median income has been stagnant since 70ies, while mean income has grown steadily. The gains obviously accrued to highest incom
by starchild_3001 9y ago
Hey, this article isn't news! US median income has been stagnant since 70ies, while mean income has grown steadily. The gains obviously accrued to highest income earners. We should talk about it. But we shouldn't think of it like something new.
- starchild_3001 9y agoAlso to add: Economic growth comes from producing more. "Mean has grown, but median has stagnated" means top earners are producing more (e.g. better software & hardware), while below-median earners aren't necessarily producing more (think of the services sector). If efficiency doesn't go up, incomes may and do remain stagnant.
- conanbatt 9y agoAt this point Im fairly convinced that LVT is the way to go. There is a tremendous confusion in separating wealth from producers to non-producers. Taxes very frequently end up going from the poor to the rich, because of how benefits are given away (ex. prop 13, mortgage interest deductions, rent control). Not only that, taxing the rich for producing would make less production, which is fundamental for economic growth. Why should a developer build a 40 apt building and pay 100x the taxes a month single family home next to it pays? Didnt he just make everyone a lot richer by his planning and exhertion?