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Economic Inequality Goes Well Beyond the Bank Account


#1

Economic Inequality Goes Well Beyond the Bank Account

Keith Payne

If President Trump’s plan to cut individual and corporate taxes is enacted, it would accelerate the rise of income inequality in America. Economists have analyzed the effects such cuts would have on the economy, but cuts would also have an impact on people’s lives beyond money. Economic inequality has a profound impact on people’s emotions, health, and thought processes that go well beyond their bank accounts.


#2

"In wealthy industrialized nations, health, happiness, and longevity are more closely associated with relative differences in income than with income itself."

Exactly. It is easier, in regards to happiness, fulfillment, etc living where everyone has about the same standard of living (even if it is low) than among those with cash falling out their pockets, protecting themselves behind gated walls/communities and looking down on the hoi polloi.

This is the US today where the "middle class" ain't so middle class anymore and resemble the poor when President Carter was in office.

Carter: "The middle class has become more like poor people than they were 30 years ago." What Carter is saying is the "middle class" clothing is worn, their vehicles are older and go w/out repair and if they own a home it too is probably neglected compared to what middle class was while he was in office. (We already know today's middle class cannot afford to pay for their own health care.)

"Human bodies respond to threats to social status in the same way they respond to threats to physical safety." This is why white working class life expectancy has fallen. Diminishing opportunities and income causes people to take more risks to "catch up" to others, when they cannot they turn to negative behaviors to ease their suffering. In the US today this has become endemic, especially in the rust belt where jobs have been off-shored with no alternative offered and those that once were able to provide for their families no longer can.

New research identifies a ‘sea of despair’ among white, working-class Americans https://www.washingtonpost.com/national/health-science/new-research-identifies-a-sea-of-despair-among-white-working-class-americans/2017/03/22/c777ab6e-0da6-11e7-9b0d-d27c98455440_story.html?utm_term=.1ddab2717bef

Something someday is going to give.


#3

From what I can see it's even harder these days for the working poor to barely exist and it usually includes more than one job. I never made much but could at least live comfortably on one full time job. (I was a cook) These days even the once middle class at the lower levels are having a tough time and don't have as many extras they once did even 20-30 years ago. It's also, as pointed out, increased stress, reduced joyful pleasures, and made life more difficult. Time for a break, for all. Universal healthcare would help immensely as one doesn't face bankruptcy or losing their home if an illness sidelines them for a while. I never wanted to be wealthy but really, enough's, enough. I don't know exactly the solution but something has to change for the better and I'm not seeing it.


#4

Any way you look at it, the Republican agenda with regards to economic inequality is immoral. The following from the FristRateCrowd website by Doctor A explains why. To read the full article and the quantum science behind it, please go to the FirstRateCrowd website and see the Donald Trump section under economic inequality.

Re: Brain Structure Drives The Consequent Effects Of Economic Inequality

A NEW THEORY OF QUANTUM ENTANGLED MORALITY—OR—WHY ARE REPUBLICANS MORE IMMORAL THAN DEMOCRATS?

So, why are Republicans more immoral than Democrats?

The answer is actually quite simple when viewed from the perspective of the new quantum entangled morality model. It is because the Republican agenda promotes income and economic inequality more so than does the Democrat’s agenda; the outcomes of these Republican inequalities are strongly associated with more pain and death to a greater number of people. Within the new model, these actions are the ones capable of not only diminishing human awareness of quantum entangled relationship, but as in the case of death, actually disconnecting it. Hence, Republicans exhibit a greater degree of immorality.

Not only do Republicans vote more often for legislation increasing income and economic inequality, they actively pursue this as a policy; although they do not use these words to describe their conduct. A case in point is their insistence on repealing the Affordable Care Act, aka Obamacare. They know full well the increase in the number of individuals projected who will suffer in pain and die as a result of not having access to medical care should the repeal be enacted. Worse yet, all of this will be done in the name of a thinly veiled tax breaks for the rich.

Based upon a commentary in the Chicago Tribune on Tuesday Jun 20, 2017, regarding a story in the Washinton Post by David Himmelstein, Steffie Woolhandler on Jan 23, 2017, titled "Repealing Obamacare will kill more than 43,000 people a year ...,"we find the following excerpts helpful at putting the level of pain and death into perspective by the Republican proposed actions.

The story is in the data: The biggest and most definitive study of what happens to death rates when Medicaid coverage is expanded, published in the New England Journal of Medicine, found that for every 455 people who gained coverage across several states, one life was saved per year. Applying that figure to even a conservative estimate of 20 million losing coverage in the event of an ACA repeal yields an estimate of 43,956 deaths annually.

The first problem is that Republicans don't have a clear replacement plan. Kessler, for instance, chides Sanders for assuming that repeal would leave many millions uninsured, because Kessler presumes that the Republicans would replace the ACA with reforms that preserve coverage. But while repeal seems highly likely (indeed, it's already underway using a legislative vehicle that requires only 50 Senate votes), replacement (which would require 60 votes) is much less certain.

Moreover, even if a Republican replacement plan comes together, it's likely to take a big backward step from the gains made by the ACA, covering fewer people with much skimpier plans.

No one knows with any certainty what the Republicans will do, or how many will die as a result. But Sanders' suggestion that 36,000 would die is certainly well within the ballpark of scientific consensus on the likely impact of repeal of the ACA, and the notion of certain replacement — and the hope that a GOP replacement would be a serviceable remedy — are each far from certain, and looking worse every day.

Democrats on the other hand actively promote their party’s supports for reducing economic and income inequality. That is to say, they cause less pain and death; this is a more moral agenda.

To say the Republicans have "lost their moral compass" is now more appropriate than ever. Like birds using an internal compass to migrate based upon the entangled relationship between electron spins in their eyes with the earth’s magnetic field, we humans have also developed evolutionary means by which we stay connected to the universe. This quantum entangled connectedness is the basis of what is moral or immoral for all humanity. The Republicans, through the elevated levels of pain and death brought on by their legislative agendas of inequality, have clearly lost sight of this internal process; or perhaps this moral mechanism was never fully developed in their brain structure to begin with. In either case, theirs is a broken compass as they continue drift, lost in a sea of immorality.


#5

One thing we seem to miss in this tax cut thing is how much more difficult it is to maintain a healthy lifestyle for those below the center of the pile. Obviously when taxes are lowered Our government has less money. This means budget cuts. The nation "must" be defended so military spending can't be touched. Infrastructure maintenance is essential to commerce so we need to stay abreast of critical problems. But when it comes to education, health care, and living standards it is dog eat dog and the big dog Always gets his first. So yeah cut taxes, it ain't gonna bug the decision makers a bit and we all know they are no longer in Washington. They live on Wall Street.


#6

Aside from the fact it takes 4 or 5 Earths to produce enough goods for all to live like Westerners, what difference does it make if my neighbors have a bit more than I do, if I have a "sufficiency"?
Grinding poverty which is what half the world's population now experience is another matter and needs to be attended to, and for this we need agreement and government. Or else it's feudalism for most, and the high life for about 10% on top.