GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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To: Bill Jackson who wrote (1272)	2/9/2004 11:59:17 PM
From: CalculatedRisk	Read Replies (3) of 173976

Offtopic: When I came to the following sentence, I realized that you understand something about economics: You wrote: An economy works when all have jobs and most get simliar wages so what one makes, another can buy. This is a very astute observation. In fact, the optimum economy, for maximizing growth and minimizing social welfare, is to have equal distributions of wealth and income and a strong incentive to change that distribution (i.e. work hard / smart and you get more or conversely, be lazy and get less). Of course, we cannot just reset the economy (and divide up the wealth), so we need to strive to find a balance between disincentives for working hard (i.e. too many taxes) and a highly skewed wealth inequality with the undesired consequences (we are approaching the previous peak of wealth inequality achieved in 1929). Most "conservatives" refuse to even listen to discussions of wealth inequality, and how it leads to slower growth, MORE social spending and instability in society. This is one of the reasons that most real economists opposed Bush's tax cuts.

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