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Two issues: - Income levels indicate practical income that market is willing to pay, therefore claiming that unreported income boosts poor people's income is b
by JAlexoid 8y ago
Two issues:
- Income levels indicate practical income that market is willing to pay, therefore claiming that unreported income boosts poor people's income is bogus. Unreported income going into poor peoples pockets will not exceed median levels. It may shift what is considered median, but I absolutely disagree that all of that money drastically changes the state of poorer people.
- Adding up poorer people gains and saying that their gains are 70%, while rich people's gain are 33% is also misleading. Wealth transfer and accumulation is totally ignored by this.
Wages have stagnated is a technically incorrect statement. If you take wealth accumulation, you'll have to change the tune... Wealthy people become wealthier, at a rate considerably higher than the average individual.
Just mere tax "optimization" options are way more readily available for rich people, than to poor people. According to Warren Buffet - his taxes are lower even in relative terms, than his own secretary's. Which makes an employee's wage growth of 70% not even close to 33% of a rich person's.