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This is a straw man. I made no statement about income inequality and I'm not calling for everyone to make the same amount. The economy doesn't obey immutable l
by js2 7y ago
This is a straw man. I made no statement about income inequality and I'm not calling for everyone to make the same amount.
The economy doesn't obey immutable laws of the universe. It works the way it does because of rules that we constructed[1]. Nothing prevents total compensation in the US from being higher allowing everyone's salaries to rise. With more progressive taxation, we could reduce the amount of inequality.
[1] e.g. per https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States#/media/File:U.S._Compensation_as_Percent_of_GDP_-_v1.png https://en.wikipedia.org/wiki/Income_inequality_in_the_Unite...
> Labor's share of GDP declined by 4.5 percentage points from 1970 to 2016, measured based on total compensation. The decline measured for wages and salaries was 7.9 points. These trends imply income due to capital (i.e., asset ownership, such as rent, dividends, and business profits) is increasing as a % of GDP.
- tptacek 7y agoYou implicitly did make an argument about income inequality when you said that other jobs are underpaid compared to software developers. You're now walking that argument back, which is fine, but you should just do that, rather than accusing people making the obvious rebuttal of attacking straw men.