Qn: Income inequality: Why is it a bad thing

[Char_Azn]

Some idiot kept going on and on about income inequality. I asked a very simple question but got no answer from him. Personally I cannot find a single satisfactory answer anyway. So here is a very simple question to everyone in here. Can someone please explain to me the following:
Why is Income inequality bad for society and general well being of a country

This is not about PAP or the opposition. This is a general question. If you can relate to SG, good, if not then fine. I just need a logical answer to that question

 

[mojito]

A few points from me on a Sunday afternoon.

1. It desensitizes people to other people
People take for granted some basic things in life such as starting a family and believe the poor are not deserving even of survive on a subsistence basis. Forum host is a classic example of a person who dehumanizes the working poor because he seems to put them in the same category as welfare cheats and bums.

2. Private insurance not comprehensive or expensive because of profit motive
Life's nasty surprises can wipe out savings. Even if you are middle class because private insurance coverage is not complete. When a debilitating illness strikes, the poor have it worse. Haven't you heard, "Better dead than sick in SG."

3. Greater individual burden on national security issues
Not simply talking about poor people getting combat vocations in NS. SG has excess capacity in electricity and water for reasons related to national security. This implies higher per unit cost of basic utilities consumed. High utilities price affects poor people more.

In other words, the poor receives a proportionally higher burden of any negatives or obligations imposed on a population. In the spirit of fairness, this should not result in putting some people below a basic subsistence level. If income inequality widens sufficiently to do that to some people, parts of society will become polarized and may act in opposition to one another's interests instead of putting our heads and hearts together to meet global challenges. A PAP dog like you should understand the importance the party places on national unity.

Feel free to add more to the list.

 

[Leongsam]

Why is Income inequality bad for society and general well being of a country

It's not a bad thing at all. It's perfectly acceptable. I explain it here.

 

[jw5]

A few points from me on a Sunday afternoon.

He's now discussing your points with Zorro.
Later they will both be asking Tharman for adviCe.

 

[mojito]

He's now discussing your points with Zorro.
Later they will both be asking Tharman for adviCe.

How pathetic. He ran away...

 

[coolguy]

because it allows the rich to bully the poor.
just like what is happening in sg now.
pappies bullying the sinkies.

 

[Char_Azn]

I didn't run away. I didn't bother replying coz there isn't anything in here to reply to

 

[TheFootballer]

It will work hand in hand with Absolute meritocracy and balanced increase in civility. The rich getting richer and greedier is a potent mix. Conversely, if everyone gets a fair go and the rich takes over the role of social responsibility, there is hope. The West screwed up this step and is now paying for it. IMO. We need more Bill Gates and Less Murdochs.

 

[freedalas]

It's not a bad thing at all. It's perfectly acceptable. I explain it here.

like a broken record......like a broken record........like a broken record.........like a broken record.........like a broken record.............

 

[Simbian]

Of course, it is perfectly acceptable to those who hold power - in terms of political and wealth. They will not be the ones who are paying the externalities. And most likely if they are aware of this and play their cards right, even their descendants will be perfectly fine.

Or so they think.

 

[Seee3]

Why is Income inequality bad for society and general well being of a country.

There is nothing wrong with income inequality. The real issues are :
(1) justification for the income inequality (i.e. why income of the top is so high)
(2) cause of income inequality (i.e. why the income of the bottom is so low)

If the income of a person is derived from genuine value-added economic activities such as Bill Gate as compared to a chamber maid, nobody will question the inequality. However, if someone with power decides to pay millions to a relatively unqualified person who has been making losses after losses in investments, there will be unhappiness. Unfortunately, because such cases are so common that many mistook the evil to be income inequality. The real evil are "unjustifiable income" for non-value-added economic activities.

On the second point, if top management of MNC do not set up factories at places that abuse the workers and ensure that all are paid fairly, there will be no quarrel on income inequality. Unfortunately, low income is usually the result of abuse and control.

Most of the times, the income of the top is so high that it is difficult to justify. For profit, the top will also not care about fairness and abuses of low ranking workers. Therefore, the general view is that income inequality is the cause of all evils. In reality, remove the real evils of "justifiable", "fairness" and "abuse" and there is really nothing wrong with income inequality. Sadly, these evils are the main causes of income inequality and it is thus generally accepted view that income inequality is bad.

 

[saratogas]

With income inequality, it gives hope to mass market brands and also allow branded goods to feel it's worth...

Poor consumers go for mass market brand while rich$ go for higher-end stuff! Just look at rice, rich folks go for the expensive Golden Phoenix brand... Poorer folks go for NTUC house brand...

 

[mojito]

He's now discussing your points with Zorro.
Later they will both be asking Tharman for adviCe.

I didn't run away. I didn't bother replying coz there isn't anything in here to reply to

Pfttt... You started a thread, contributed nothing to the discussions and wait for the model answers to roll in.

jw5 is right. Just waiting for people to do your homework for you, aren't you? Bum.

 

[Zatoichi]

Here are my thoughts about the immorality of "income inequality"...

The causes of "income inequality" are actually very simple:

1. The malicious/devious cunning and greed of the aggressor (who eventually becomes "rich/upper class"), and
2. The cowardice, stupidity, and/or greed of the victim (who eventually becomes "poor/lower/middle class").

Before money (in whatever form) can even begin to exist, i.e. to become legal tender, a certain number of people must co-operate and accept it as a currency.

For example, if a certain man somehow manages to own a certain number of, say, gold bars, he would neither be rich nor poor, as long as NOBODY values his gold.
Therefore, this man (the "aggressor"), in order to become rich, needs to somehow brainwash, bribe and/or bully (the 3 "B"s) a certain number of people (the "victims") into THINKING that having a CURRENCY is a GOOD thing.

So that's how money/currency, and consequently, "income inequality", begins to exist, especially on a worldwide scale.
It needs the worldwide CO-OPERATION of both the rich/upper classes (motivated by malicious/devious cunning and greed) AND the poor/lower/middle classes (motivated by cowardice, greed and/or stupidity), simply because if ALL the poor and lower/middle classes were to be brave enough go on some kind of lifelong strike from money-paying work, ALL the monetary wealth of the rich and upper classes would become WORTHLESS as it would NOT be able to BUY the SLAVERY of ANYBODY (which used to be the poor and lower/middle classes) to produce products and provide services for the rich and upper classes.

 

[Perspective]

Some idiot kept going on and on about income inequality. I asked a very simple question but got no answer from him. Personally I cannot find a single satisfactory answer anyway. So here is a very simple question to everyone in here. Can someone please explain to me the following:
Why is Income inequality bad for society and general well being of a country

This is not about PAP or the opposition. This is a general question. If you can relate to SG, good, if not then fine. I just need a logical answer to that question

Stupid question. There's a difference between income inequality and income difference. If it was you and not Yam Ah Mee in the avatar, I would suggest you stick that gun into your mouth and see if the bullet whizzes out of your ass.

 

[Forvendet]

Income inequality is inherent and inadvertent, so that people who work more, know more and produce more are rewarded more. The difference is widening income gap deviating from the median. A group of people got paid too much more and a group of people got paid too much less than economically proportional and rational.

 

[freedalas]

Income inequality is inherent and inadvertent, so that people who work more, know more and produce more are rewarded more. The difference is widening income gap deviating from the median. A group of people got paid too much more and a group of people got paid too much less than economically proportional and rational.

Exactly. In any society, income inequality is bound to exist. It's not a crime in itself so to speak. But when a govt conceives and implements policies that fuel the income gap to become wider and wider, then it's criminal. It would be very clear to anyone who look back that this is what the PAP had done in the past 15 to 20 years.

The people had given feedback to them for many years of this phenomenon and the PAP not only chose to ignore the feedback but came out with more policies that worsen the inequality such that S'pore is notoriously well-known for having one of the largest Gini Co-efficient in the world. It's only now that they are trying to do something about it, but not after the worst showing in a general election since coming into power. So we need to press on in showing that the power is in the people's hands for the coming Hougang by-election and GE 2016.

 

[brocoli]

inequality puts more resources into the hands of capitalists (as opposed to workers), it promotes savings and investment and catalyzes growth.

 

[Kinana]

It becomes a problem when people are jealous.
Jealousy is one big human weakness.

 

[coolguy]

When the capitalist himself is a politician in power, it leads to absolute power, absolute guaranteered profiteering of money investment and absolute control of the country economy.
And when the money is invested overseas and catalyzes the growth of other country's economies except it's own, then you know the citizens are fucked and it is better to leave the country
for their long term good.