Tilted Forum Project Discussion Community - View Single Post - "You Can't Soak the Rich"

aceventura3 · 07-30-2010, 04:38 PM

I was thinking about the issue of income disparity today and the fallacy in how some look at the issue. And I truly don't know if they purposefully ignore what is happening or if they just don't know.

For example:

If family (Two children, two adults) A makes $1 million more than family B over a twenty year period all other things being equal but:

Family B's two children get full scholarships to a university costing $100,000 and family A pays the full tuition. the $1 million difference drops to $800,000.

Family B's two children got free health insurance through a SCHIP program valued at $100,000 over 22 years, but Family A paid for the coverage. The $800,000 difference is now $700,000.

Family A was in a tax bracket where they paid taxes and Family B got tax credits. Let's say on the $1 million difference the difference in taxes paid was 20% or $200,000. Now the $700,000 difference is $500,000.

Etc.

Etc.

The point is that the $1 million dollar difference can easily go to $0 and both families may not have lived materially different. But if we looked at statistics simply related to income the picture painted would be totally different.

07-30-2010, 04:38 PM	#278 (permalink)
aceventura3 Junkie Location: Ventura County	I was thinking about the issue of income disparity today and the fallacy in how some look at the issue. And I truly don't know if they purposefully ignore what is happening or if they just don't know. For example: If family (Two children, two adults) A makes $1 million more than family B over a twenty year period all other things being equal but: Family B's two children get full scholarships to a university costing $100,000 and family A pays the full tuition. the $1 million difference drops to $800,000. Family B's two children got free health insurance through a SCHIP program valued at $100,000 over 22 years, but Family A paid for the coverage. The $800,000 difference is now $700,000. Family A was in a tax bracket where they paid taxes and Family B got tax credits. Let's say on the $1 million difference the difference in taxes paid was 20% or $200,000. Now the $700,000 difference is $500,000. Etc. Etc. The point is that the $1 million dollar difference can easily go to $0 and both families may not have lived materially different. But if we looked at statistics simply related to income the picture painted would be totally different. __________________ "Democracy is two wolves and a sheep voting on lunch." "It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion." "If you live among wolves you have to act like one." "A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."