– #Quick Reminder on The United States of America‘s Open Issues[1] and Odd Tax Regime[2] upon request –
The economic and political impacts of inequality may include slower GDP growth, reduced income mobility, higher poverty rates, greater usage of household debt leading to increased risk of financial crises, and political polarization. Causes of inequality may include executive compensation increasing relative to the average worker, financialization, greater industry concentration, lower unionization rates, lower effective tax rates on higher incomes, and technology changes that reward higher educational attainment.
According to Haavelmo[5], societies bearing unequal income ratios tend to impair their Economical Performance.
The Economic Aggregates‘ lifting and shunting effects fail to substantiate in mutual compliance, resulting in a kind of piston seizure frustrating the economy as a whole. National Money Flow is the (!) lubricant granting and sustaining a successful National Economy.
Consequently, Haavelmo deducts, the lowest third of Income Earners accounts for an economy’s power reserves inducing Impetus and Momentum bottom-up into all other Aggregates. His findings diametrally withstand, e.g. the Reagonomics‘ infamous trickle down theory[6].
Institutional and individual large-scale Income Earners tend to invest significantly more time in verifying their Investment Decisions and Return Expectations than low and average Income Earners.
Such caution puts a systemic Restrain[7] on the national Economy‘s Performance.
Frame of Reference
UAW's Charges vs Musk-Trump On Worker Intimidation 2024
Age Ain't On America's Agenda!
Centennials: Roosevelt FD (1933/38!) [Centennials: Churchill (1940!) ––– Centennials: De Gaulle (1947!) ––– Centennials: Adenauer (1949!)]
Nikki Haley‘s Odd Principle ...
[1] Related features as follows: Repubs vs Democs | A Nation Going Paranoid: - Cal Caleido’s Substack ––– Liberty’s Eye of The Tiger! - Cal Caleido’s Substack ––– RE: Tirement in Dire Straits! - Cal Caleido’s Substack ––– Greenspan’s Stunt Show! - Cal Caleido’s Substack ––– Beware of the Alien Nation: - Cal Caleido’s Substack ––– || ––– Some examples in alphabetical order as follows ––– Crime (Violence): FBI — Violent Crime ––– Discrimination (Racial Profiling): Racial Profiling | American Civil Liberties Union (aclu.org) ––– Discrimination (Racism): Federal Protections Against National Origin Discrimination (justice.gov) ––– Discrimination (Reverse Discrimination): Reverse Discrimination - FindLaw ––– Drug Abuse: Drug Abuse in the United States (fmprc.gov.cn) ––– Employment (Unemployment): Employment Situation Summary - 2023 M04 Results (bls.gov) ––– Homelessness: How many homeless people are in the US? What does the data miss? - USAFacts ––– Homeownership: How Many Homeowners Are There In The U.S.? 51+ Statistics! (simplyinsurance.com) ––– Illiteracy: Illiteracy Among Adults in the United States - Ballard Brief (byu.edu) ––– Incarceration (Business): The American Prison System: It’s Just Business (fordham.edu) ––– Incarceration (Inmates): United States of America | World Prison Brief (prisonstudies.org) ––– Income Inequality (Rich Poor Gap): The Wealth Gap Costs the US Economy $300 Billion Every Year: Study (businessinsider.com) ––– Poverty (Children): Child Poverty in America - Facts, Statistics | United Way NCA ––– Poverty (Senior Citizens): Poverty Among the Population Aged 65 and Older (fas.org) ––– Prostitution: Prostitution in the United States - HG.org ––– Suicide: Suicide statistics | AFSP ––– Trafficking: About Human Trafficking - United States Department of State ––– Unbanked People: The Costs Of Being Unbanked Or Underbanked – Forbes Advisor ––– Uninsured Citizens (Health Care): Key Facts about the Uninsured Population | KFF etc.
[2] Taxation in the United States (Wikiped) ––– related (1) as follows: Internal Revenue Service (Wikiped) ––– List of allegations of misuse of the Internal Revenue Service (Wikiped) ––– related (2) as follows: IRS targeting controversy (Wikiped) ––– I.R.S. Acknowledges Black Americans Face More Audit Scrutiny - The New York Times (nytimes.com) ––– IRS Apologizes For Aggressive Scrutiny Of Conservative Groups : NPR ––– IRS announces sweeping effort to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts focused on increasing scrutiny on high-income, partnerships, corporations and promoters abusing tax rules on the books | Internal Revenue Service ––– related (3) as follows: Return on Investment - Re-Examining Revenue Estimates for IRS Funding 2024 (irs.gov) ––– Trends in the Internal Revenue Service’s Funding and Enforcement 2020 (cbo.gov) ––– The Complexity of the Tax Code - Most Serious Problems (2006/7) (irs.gov) ––– related (4) as follows: (1991) Tax Foundation - A Nation in Debt (taxfoundation.org) ––– (2019) The National Debt Is Now More than Ten Times Annual Tax Receipts | Mises Institute ––– (2023) American Taxpayers Are Now Slaves to Interest Payments | The Heritage Foundation ––– (2024) Policy Basics: Where Do Our Federal Tax Dollars Go? | Center on Budget and Policy Priorities (cbpp.org) ––– What Is the National Debt Costing Us? (pgpf.org) ––– related (5) as follows: (2024) OECD - Global Debt Report 2024 (oecd.org) ––– World Economic Forum - Annual Report 2023-2024 (weforum.org)
[3] Income inequality in the United States (Wikiped) ––– Causes of income inequality in the United States (Wikiped) ––– related (1) as follows: List of U.S. states and territories by income inequality (Wikiped) ––– Wealth inequality in the United States (Wikiped) ––– related (2) as follows: Chairman Alan Krueger Discusses the Rise and Consequences of Inequality at the Center for American Progress | whitehouse.gov (archives.gov) ––– Polarization under rising inequality and economic decline - PMC (nih.gov) ––– The United States' Real and Perceived Income Gap | Statista ––– related (3) as follows: Poverty in the United States: 2023 (census.gov) ––– Unleashing the Power of Poor and Low-Income Americans – Poor People's Campaign (poorpeoplescampaign.org) ––– Poorer Americans have much lower voting rates in national elections than the nonpoor, a study finds. - The New York Times (nytimes.com) ––– related (4) as follows: Poorer Americans have much lower voting rates in national elections than the nonpoor, a study finds. - The New York Times (nytimes.com) ––– Voter Turnout based on Income - Investigating Voting Behavior in the U.S. Presidential Election of 2016 (diva-portal.org) ––– Voting and Income 2016 Presidential Election - Econofact | Econofact ––– related (5) as follows: List of countries by income equality (Wikiped)
[4] Wealth Inequality By Country 2024 (datapandas.org)
[5] Trygve Haavelmo (Wikiped): Trygve Magnus Haavelmo (13 December 1911 – 28 July 1999), born in Skedsmo, Norway, was an economist whose research interests centered on econometrics. He received the Nobel Memorial Prize in Economic Sciences in 1989.
[6] Trickle-down economics (Wikiped): Trickle-down theory is an economic strategy where taxes levied on the high-income group are curtailed. The theory claims that the increase in wealth will trickle down into lower economic sections in the form of increased investments and employment.
[7] Note: E.g. since the 1970s Germany's national money flow has decelerated to one sixth of its original top velocity. Over the past five decades, the exponential accumulation of large assets and fortunes by means of interest yields has brought about a degree of wealth concentration having coincided with galloping wealth inequality. ––– related: Annual report 1970 (bundesbank.de); Outlook for the German economy for 2022 to 2024 (bundesbank.de)
Streetlife Is An Option: American Income Inequality, Poverty & Political Polarisation!