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	<title>Comments on: Why Is the Pay So Lousy?</title>
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		<title>By: Eugene Patrick Devany</title>
		<link>http://www.frontpagemag.com/2013/howard-hyde/why-is-the-pay-so-lousy/comment-page-1/#comment-5311316</link>
		<dc:creator><![CDATA[Eugene Patrick Devany]]></dc:creator>
		<pubDate>Wed, 13 Nov 2013 12:49:00 +0000</pubDate>
		<guid isPermaLink="false">http://frontpagemag.com/?p=210241#comment-5311316</guid>
		<description><![CDATA[GDP has been undervalued by about 3% due to the combined productivity - monopoly effect of intellectual property rights. Intellectual property rights enable corporations to increase sales while reducing payroll because competition is locked out. This means fewer jobs and lower wages for Americans. These valuable rights are gifts from the government that determines what can be protected and enforced. The owners rather than the workers have gotten all the benefit. The job killing payroll taxes need to be replaced to rebalance the economy.

An &quot;optional&quot; 2% tax on average net wealth (excluding $15,000 cash and $500,000 retirement funds) could be paired with a flat 8% income tax (and no payroll taxes) for about 95% of the population. In the alternative, a higher 26% individual income tax rate (plus deferred capital taxes on gains, gifts and estates and no wealth tax) could be paid by anyone (but they would likely be very, very rich). A 4% VAT on business would enable a reduction of the C corporation rate to 8% and elimination of payroll taxes (so combined business tax revenue and consumer prices remain about the same).

The payroll earnings tax base has been shrinking compared to both net wealth and sales tax bases. Tax base growth can provide funds to pay down the debt without raising the low 2-4-8 rates.]]></description>
		<content:encoded><![CDATA[<p>GDP has been undervalued by about 3% due to the combined productivity &#8211; monopoly effect of intellectual property rights. Intellectual property rights enable corporations to increase sales while reducing payroll because competition is locked out. This means fewer jobs and lower wages for Americans. These valuable rights are gifts from the government that determines what can be protected and enforced. The owners rather than the workers have gotten all the benefit. The job killing payroll taxes need to be replaced to rebalance the economy.</p>
<p>An &#8220;optional&#8221; 2% tax on average net wealth (excluding $15,000 cash and $500,000 retirement funds) could be paired with a flat 8% income tax (and no payroll taxes) for about 95% of the population. In the alternative, a higher 26% individual income tax rate (plus deferred capital taxes on gains, gifts and estates and no wealth tax) could be paid by anyone (but they would likely be very, very rich). A 4% VAT on business would enable a reduction of the C corporation rate to 8% and elimination of payroll taxes (so combined business tax revenue and consumer prices remain about the same).</p>
<p>The payroll earnings tax base has been shrinking compared to both net wealth and sales tax bases. Tax base growth can provide funds to pay down the debt without raising the low 2-4-8 rates.</p>
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		<title>By: A Z</title>
		<link>http://www.frontpagemag.com/2013/howard-hyde/why-is-the-pay-so-lousy/comment-page-1/#comment-5310886</link>
		<dc:creator><![CDATA[A Z]]></dc:creator>
		<pubDate>Tue, 12 Nov 2013 18:26:00 +0000</pubDate>
		<guid isPermaLink="false">http://frontpagemag.com/?p=210241#comment-5310886</guid>
		<description><![CDATA[Oh yeah, Elizabeth Warren was that get rich quick house flipper that got rich on other people&#039;s misfortune.]]></description>
		<content:encoded><![CDATA[<p>Oh yeah, Elizabeth Warren was that get rich quick house flipper that got rich on other people&#8217;s misfortune.</p>
]]></content:encoded>
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	<item>
		<title>By: A Z</title>
		<link>http://www.frontpagemag.com/2013/howard-hyde/why-is-the-pay-so-lousy/comment-page-1/#comment-5310885</link>
		<dc:creator><![CDATA[A Z]]></dc:creator>
		<pubDate>Tue, 12 Nov 2013 18:25:00 +0000</pubDate>
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		<description><![CDATA[&quot;Every worker in the First World sits on top of a gold mine of capital accumulated from prior generations, which he or she had no hand in building, to make his or her work that much more productive and valuable.&quot;

I just can imagine Elizabeth Warren saying &quot;You didn&#039;t build that&quot;

Which is true. But if it is pass down through your family from father to son (or mother to daughter; you get the picture), then it is yours.

If someone give you something, it should not be of any concern of anyone else.
All that matters is that they engaged in fair trade to build their wealth.

Progressives refuse to wrap their mind around that fact.]]></description>
		<content:encoded><![CDATA[<p>&#8220;Every worker in the First World sits on top of a gold mine of capital accumulated from prior generations, which he or she had no hand in building, to make his or her work that much more productive and valuable.&#8221;</p>
<p>I just can imagine Elizabeth Warren saying &#8220;You didn&#8217;t build that&#8221;</p>
<p>Which is true. But if it is pass down through your family from father to son (or mother to daughter; you get the picture), then it is yours.</p>
<p>If someone give you something, it should not be of any concern of anyone else.<br />
All that matters is that they engaged in fair trade to build their wealth.</p>
<p>Progressives refuse to wrap their mind around that fact.</p>
]]></content:encoded>
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		<title>By: philbest</title>
		<link>http://www.frontpagemag.com/2013/howard-hyde/why-is-the-pay-so-lousy/comment-page-1/#comment-5310851</link>
		<dc:creator><![CDATA[philbest]]></dc:creator>
		<pubDate>Tue, 12 Nov 2013 17:26:00 +0000</pubDate>
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		<description><![CDATA[There is a difference between the amassing of wealth by way of zero-sum rentier activity, which is a plague now, and the accumulation of productive capital that the above article is about.

One of our major problems now is that zero-sum rentier get-rich-quick schemes are sucking money away from productive investments in productive capital. This only makes the above author&#039;s point more valid. There is usually a government &quot;enabler&quot; role to be found somewhere.

Frederick C. Howe, in &quot;Confessions of a Monopolist&quot; (1906) says that first, politics is a necessary part of business. To control industries it is necessary to control Congress and the regulators and thus make society go to work for you, the monopolist. So, according to Howe, the two principles of a successful monopolist are, &quot;First, let Society work for you; and second, make a business of politics. These..... wrote Howe, are &quot;the basic rules of big business.&quot;

These rules have superseded the teachings of our parents and are reducible to a simple maxim: Get a monopoly; let Society work for you:
and remember that the best of all business is politics, for a legislative
grant, franchise, subsidy or tax exemption is worth more than a Kimberly or Comstock lode, since it does not require any labor, either mental or physical, for its exploitation.



This is our problem, and as Henry George pointed out 100 years ago, it is a tragedy that the political representatives of &quot;labor&quot; constantly war against the employer class while the rentiers in finance and property laugh all the way to the bank. It is often the more left-wing mainstream political party under which the rentiers are most successful in the economy.]]></description>
		<content:encoded><![CDATA[<p>There is a difference between the amassing of wealth by way of zero-sum rentier activity, which is a plague now, and the accumulation of productive capital that the above article is about.</p>
<p>One of our major problems now is that zero-sum rentier get-rich-quick schemes are sucking money away from productive investments in productive capital. This only makes the above author&#8217;s point more valid. There is usually a government &#8220;enabler&#8221; role to be found somewhere.</p>
<p>Frederick C. Howe, in &#8220;Confessions of a Monopolist&#8221; (1906) says that first, politics is a necessary part of business. To control industries it is necessary to control Congress and the regulators and thus make society go to work for you, the monopolist. So, according to Howe, the two principles of a successful monopolist are, &#8220;First, let Society work for you; and second, make a business of politics. These&#8230;.. wrote Howe, are &#8220;the basic rules of big business.&#8221;</p>
<p>These rules have superseded the teachings of our parents and are reducible to a simple maxim: Get a monopoly; let Society work for you:<br />
and remember that the best of all business is politics, for a legislative<br />
grant, franchise, subsidy or tax exemption is worth more than a Kimberly or Comstock lode, since it does not require any labor, either mental or physical, for its exploitation.</p>
<p>This is our problem, and as Henry George pointed out 100 years ago, it is a tragedy that the political representatives of &#8220;labor&#8221; constantly war against the employer class while the rentiers in finance and property laugh all the way to the bank. It is often the more left-wing mainstream political party under which the rentiers are most successful in the economy.</p>
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	<item>
		<title>By: Sheik Yerbouti</title>
		<link>http://www.frontpagemag.com/2013/howard-hyde/why-is-the-pay-so-lousy/comment-page-1/#comment-5310718</link>
		<dc:creator><![CDATA[Sheik Yerbouti]]></dc:creator>
		<pubDate>Tue, 12 Nov 2013 14:23:00 +0000</pubDate>
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		<description><![CDATA[Massive hoarding of money always seems to get us to this point.  We never seem to learn.]]></description>
		<content:encoded><![CDATA[<p>Massive hoarding of money always seems to get us to this point.  We never seem to learn.</p>
]]></content:encoded>
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