Here is a discussion of how difficult it is to move from poverty to wealthy in America.

Ironically, it seems to be easier for poor people to move to America and become wealthy than it is for Americans to become wealthy.

So, why has our ‘land of opportunity’ failed to provide opportunity for Citizens? Why are we providing opportunity for foreigners, but not for Citizens?

Don’t get me wrong, I would rather see Government invest in lower taxes than in more programs. But, I would also like to see Government quit investing in foreigners coming to America.

What do you think?

Ghost.

The McLean Parlor

wealth and inequality

In The New York Times’ series on inequality in America, Columbia professor and Nobel laureate Joseph Stiglitz recently argued that measurable social mobility in America is incongruent with the often ascribed “land of opportunity” label.  Stiglitz did reference data from a reputable source (The Brookings Institution) to draw his conclusions, but his interpretation of said data is perplexing.

According to Stiglitz, “only 58 percent of Americans born into the bottom fifth of income earners move out of that category, and just 6 percent born into the bottom fifth move into the top.”

The word “only” in that statement is an interesting rhetorical choice. I don’t know exactly what percentage of America’s poorest children the professor thinks should be moving out of the untouchable caste, but 58% seems pretty good. And while 6% seems rather paltry when I pay sales tax on a Burger King Whopper, the fact that 6 out…

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10 Responses to

  1. DaPoet says:

    I agree. My wife once knew the owner of a convenience store who was foreigner and was a result didn’t have to pay taxes for several years. Then as is the common practice among non citizen small business owners when his tax exemption expired he turned his business over to another family member who then was granted a tax exemption from the government.

    • WOW!

      I didn’t know about that. That is

      SCARY.

      They want to tax Americans who finally start pulling out of the middle-class, I was there once upon a time.

      But, they exclude the rich foreigners ….

      Do you think that is fair?

      Thank you for your comment!

      Ghost.

  2. DaPoet says:

    Your welcome and no I don’t think that it is fair. Most major businesses like General Electric don’t pay taxes while others like Apple keep the money earned overseas out of the country in order to avoid paying taxes.

    • Most major Businesses and Rich people (GE, Facebook, Buffet, Gates, Soros, and others) pay contributions to politicians so they won’t have to pay taxes. Or, they set up tax-free corporations ….

      Should we get rid of their tax deductions?

      • DaPoet says:

        Not only should we get rid of the tax deduction demanded by the one percent. But the law should limit the compensation of CEO’s to no more than one million dollars a year to be paid only if the company made a profit. The money saved would then be equally divided among the rest of the employees as a bonus for a job well done. Any company refusing to pay taxes should be shut down and its operators publicly executed for economic treason.

      • Can we start with Zuckerburg, Soros, GE, Gates, and Buffet?

  3. DaPoet says:

    Don’t leave out the Republicans – Democrats and the Feminists.

  4. J. Palmer says:

    Thanks for the reblog! Good conversation here. I think asking the rich to contribute more to society is fine;however, Bill Gates, Warren Buffett, and Mark Zuckerberg have all pledged to give away more than half of their wealth to charitable causes. That seems pretty noble to me, and I would personally rather see their money go to non-government organizations that they can exert some control over, rather than going to a government that will fritter away their dollars in Afghanistan.

    • I like that, but I think we disagree a little.

      Since they ‘give’ money away because they are dodging taxes that I cannot dodge.

      They are really supporting giving money to be frittered away in Afghanistan.

      They would have been noble had they kept Obama to his campaign promise to bring the soldiers home.

      Instead?

      They took the cowards way out ….

      IMHO.

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