Stossell on "Income Inequality"
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Started by TimNew - May 4, 2019, 12:34 p.m.

It buys votes for people like Bernie but only affects us as much as we allow.


https://townhall.com/columnists/johnstossel/2019/05/01/a-lie-a-myth-and-a-question-n2545624

"Socialists like Bernie Sanders tell us that "the rich get richer, and the poor get poorer."

That's a lie.

Yes, rich people got absurdly rich. Last year, says Oxfam, "the wealth of the world's billionaires increased (by) $2.5 billion a day."

I say, so what?

The poor did not get poorer. Bernie's wrong about that. The poor are much better off.

"As we've increased the number of billionaires around the world, extreme poverty has shrunk," says former investment banker Carol Roth in my video about inequality.

She is right. Over the past 30 years, more than a billion people climbed out of extreme poverty. Thanks to capitalism, more than a billion people no longer struggle to survive on a few pennies a day.'


Comments
By metmike - May 4, 2019, 1:15 p.m.
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Stossell is awesome!

From the article:

"As we've increased the number of billionaires around the world, extreme poverty has shrunk," says former investment banker Carol Roth in my video about inequality.

She is right. Over the past 30 years, more than a billion people climbed out of extreme poverty. Thanks to capitalism, more than a billion people no longer struggle to survive on a few pennies a day."

By TimNew - May 4, 2019, 2:17 p.m.
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If people like Bernie get their way  we can put a stop to this.


"She is right. Over the past 30 years, more than a billion people climbed out of extreme poverty. Thanks to capitalism, more than a billion people no longer struggle to survive on a few pennies a day."

When everyone is poor, there is no more income inequality.  Won't that be wonderful?  :-)

By carlberky - May 4, 2019, 5:33 p.m.
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I'm glad that the world is doing so well, but how are WE doing?

While our poverty level has remained firmly above 12% of the population, Trump has managed to reduce it by 1.2%.
The reduction might be greater, if I could find data for 2018.

Jul 1, 2019 328,71 million  
Jul 1, 2018 328.03 million  
Jul 1, 2017 325.72 million 12.3
Jul 1, 2016 323.41 million 12.7
Jul 1, 2015 321.04 million 13.5
Jul 1, 2014 318.62 million 14.8
Jul 1, 2013 316.23 million 14.8
Jul 1, 2012 313.99 million 15.0
Jul 1, 2011 311.64 million 15.0  
Jul 1, 2010 309.34 million 15.1
Jul 1, 2009 306.77 million 14.3  
Jul 1, 2008 304.09 million 13.2
Jul 1, 2007 301.23 million 12.5
 


By TimNew - May 4, 2019, 9:42 p.m.
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Let's just keep importing uneducated and unskilled people from 3rd world countries.  That will certainly reduce the poverty rate of leftist politicians.

By carlberky - May 4, 2019, 10:25 p.m.
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'Let's just keep importing uneducated and unskilled people from 3rd world countries."

"U.S. immigration law is very complex ... and petitioners must meet certain age and financial requirements."

As for those seeking asylum, there are very strict requirements, and in the Obama years an average of 25,000 were accepted.
I doubt whether the average has increased under Trump,

By TimNew - May 5, 2019, 7:53 a.m.
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Ohhh,  you're limiting this to legal immigrants.    Gotcha.

By carlberky - May 5, 2019, 12:54 p.m.
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Ohhh,  you're limiting this to legal immigrants.    Gotcha.

Those are the only ones that we import.

By TimNew - May 5, 2019, 1:32 p.m.
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I've always considered sanctuary cities a form of aiding and abetting, as is oppostion to a border wall.  But I suppose one could argue that we also don't import illegal drugs.