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SOCI 250 October 28th Lecture

SOCI 250 October 28th Lecture - o He believes that it would...

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Video with conservative law professor His beliefs: - Inequality is a good thing it is necessary - Social gain trumps entrepreneurial gain o Steve Jobs, Bill Gates – their value to society greatly outweighs the compensation that they receive - Tax increases are ineffective because they are dispersed - Taxes result in a reduction in effort by those who receive these benefits – ties into the discussion of the misconception (in Lecture) of ‘laziness’ amongst the poor - Any attempt to increase overall welfare results in the removal of the wealthy individuals at the top – no one left to subsidize social welfare programs - Attempts to remove financiers will reduce liquidity - The top 15% of Americans don’t “control” society as many liberals tend to believe - He wishes to abolish the Estate tax o The Estate tax is the tax that is placed on family inheritances
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Unformatted text preview: o He believes that it would be a disaster to attempt to start the economy from scratch-He doesn’t think that the poor can be helped from ‘transfer payments’ (taxes) o The only way that we can help the poor is to provide them with more opportunities to succeed-You “do not make the poor rich by making the rich poor” – Abraham Lincoln Brief Discussion Afterwards-Over a 30 year period – the wealth of the top 15% of wage earners grew by 300% while the bottom 1/5 made the same amount over the same period of time-What determines what the ‘high value’ occupations (doctors, scientists, lawyers) make? o Conservative beliefs – need a huge carrot at the top to provide the motivation to occupy ‘high value/stress/work’ jobs...
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