(November 10, 2014 at 10:35 pm)Heywood Wrote:(November 10, 2014 at 10:20 pm)Chad32 Wrote: I caught on to that too. Poor people don't save much, if anything. They can't. So they use almost all, or all, their money to consume.
If the exemption is greater than their income....the poor pay no tax whatsoever. Poor people would be hit disproportionately by say a national sales tax....but this isn't that.
(November 10, 2014 at 10:29 pm)whateverist Wrote: Yeah this wouldn't help with income inequality. It would just further exploit those who have and make less. They can't afford to save. They're living paycheck to paycheck, just barely scraping by. To reward those who can afford to save more just widens the gap, a fact that I can't believe escaped Gates' notice.
Gates takes the position that income inequality isn't what we should be concerning ourselves with.
I agree with him. I have often said we should be looking at inequality in standard of living(what he calls consumption inequality) and inequality in income really doesn't tell us anything.
You are the sucker that falls for the ball and cup trick not understanding the ball is palmed under the Monty's hand and they chose which cup they put it under. You have no say in how the game is set up.