Wealth Inequality in America

LMAO! I mean, it's not like they aren't already getting ridiculous tax treatment of capital gains, coupled with outlandish salaries for upper level management, many of whom have no idea what it actually takes to sell their merchandise, and who haven't put in a hard day's work since Methuselah walked the earth.

 

Don't even need the airfare with a lot of jobs, thanks to the internet.

I think america is going to end up like the rest of the americas, ie. mexico and southward - entrenched elites with everyone else poor and struggling

 

Sharpest income inequality in the industrialized world.

 

Great point.

I bet their resistance to single payer health care has a lot to do with the fact that it would reduce dependency on the corporations and free some people up to start their own humble lil businesses.

 

repppped. Love to see people actually pissed off at corporatism. Especially females.. Hate to say it, but that's rare.

 

They say they support competition and private enterprise but that's the lie to convince the working class that they, too, can become one of the rich few and get them to support policies that actually limit freedom and opportunity, preserving it only for the owners of capital.

 

Why on earth would a business making record profits create more jobs when they can make money using less people? What incentive is there for them to do that?

 

You missed the memo I think.

The one that says the rich create jobs with all their wealth and young mothers and black people use buttloads of welfare.
And women are generally sluts and demand you pay of their abortions.

It's trickle down economics. Real popular in 'murica among the "job creators"

 

We are in for some incredibly dark times and honestly I don't see any way around it. Corporations have their boots on the neck of Americans and it ain't gonna stop.

 

I can attest to this fact.

 

Its sad to see but we are actually witnessing the end of capitalism and the new dawn of another Feudal/Monarch regime. People love Game of Thrones so damn much they'll be living it soon enough. Unfortunately they don't realize they won't be Starks or Lanniesters or even creepy Tullies. They'll be nameless peasants who are abused and die for the slightest of infractions. And the absolute worst thing of all about all of this is it could be avoided. We have the means right now not some distant future but right now to provide a life for damn near all people to live well and still have an aristocratic class but it won't happen. Man truly is the devil, the fact we are capable of such needless cruelty makes me wonder if life would be better served by our extinction.

 

One thing that JW did hit on is the keeping up with the joneses mentality. Truthfully, if we stop giving corporations our money, well... we stop giving corporations our money.

The products that Sony, Samsung, produce are generally not necessities...

 

Very true like cell phones that cost 600 bucks. Why the fuck are people waiting online for this shit like its a job. I just bought a brand new Asus for 380 why on earth does anyone need a phone that cost more than a laptop. It may drive our debt problem but has little to do with our income inequality issues.

 

You guys honestly don't get it. There is huge disparity when you're referencing the super rich...not just CEO's. Does Oprah honestly deserve to make $1 billion year while someone on her production team busts their ass for next to nothing? Does an athlete deserve to make $30 million while the maintenance guy makes next to nothing? Those people are anomalies.

What you need to look at is how large our middle class is. You guys keep saying look at all these people making less than the $30 million year guy. When the discussion is around our mobility. And the fact is somebody making $40,000 could move to $70,000 within a relatively short amount of time. Or someone making minimim wage could go to a trade school and start making $20 hour afterwards. That's what I'm referring to...the mobility that we have is way better than most countries. Stop looking at Warren Buffett and Bill Gates types. If you guys don't appreciate the wonderful opportunities this country affords you... go try your luck somewhere else.

 

well put

 

I'm not looking at the above-referenced people when I make my discussion. I'm referring to the gross disparities between the working poor and upper management: the number of $100,000+ earners vs. the legions of people making $30K or less. And even were we to look at the top earners, I don't think you can say with any certainty whether or not we "get it". Your references regarding moderate salary earners does not invalidate any previously offered CEO examples. The US middle class is sharply contracting, whether you realize it or not. And they are shrinking because government is now following policies dictated by capital and business interests, not those dictated by the voters. Where do I get these ideas? My 20 years of experience as a lobbyist at the local, state and federal level, as well as my 4-5 years of extreme hardship with two degrees and halfway to my JD. And I don't assume my experience to be everyone's experience, but I have found more people sharing my experience than achieving the upward mobility you have experienced. Perhaps I am in an unsuccessful part of the country? Or I haven't gotten enough education? Or perhaps it's attributable to some other anomaly?

As for the "love it or leave it" posture you take at the end of your remarks, that is highly inconsistent with the 'free speech' and discourse that is supposed to be this country's hallmark. We're free to remain here, not like it, and seek to change it, as you are free to resist pro-worker policies. Besides, it's the same the world over, because most of the planet has shifted from social welfare policies to US-driven business-first policies. There's nowhere left to hide.

 

Well since you don't like listening to my love it or leave it posturing here are the facts:

Look at the United States in the two columns showing the average income of the richest 10% to the poorest 10% also the richest 20% to the poorest 20%. This drops into single digit territory. Also, look at the Gini coefficient for the United States. It was 0.31 in the 1970's and is only 0.37 today. Gini coefficients show inequality in wealth distribution, with 1 being complete inequality and 0 being complete equality.

http://en.wikipedia.org/wiki/List_of_countries_by_income_equality

So that's why I'm saying it's ridiculous to compare a low income earner to a CEO and say "look at that huge gap". There are way too many factors that are involved. I think you bring up a number of good examples as to why certain people may have a hardship. If you're going for your JD, should somebody who is a high school dropout earn as much as you? No, they don't have the level of education and 20 years experience that you have. And where you live is also a big factor. Some states simply have more opportunities than others and pay better. When the economy was really bad, I had to leave the state to find a job. Eventually I found an opportunity back here in California. But I know many people who have left their states to come here because the salary ranges are higher.

 

Nevertheless, most high school dropouts that I know are making quite a bit more than me, despite their relative lack of education. I have moved to three different states looking for a job. Neither MO, IL or FL have been fruitful, despite the years of experience in the first two. Maybe I'll try CA next. The broader point I was attempting to make is that not all of this inequality is due to individuals failing to measure up in a meritocratic society. It is largely due to conscious policies that skew income toward one class over another, regardless of relative education or innate intelligence, simply based on biased assumptions about who truly 'contributes' to the economy and who truly 'earns' the fruits.

As for the wikipedia information on Gini coefficients, I'll check the Brookings Institution, the OMB and a few other sources to confirm the numbers. Also, bear in mind that absolute inequality is a number that only feudal societies are likely to illustrate. But it is almost universally held that the US is the most unequal developed industrialized economy. But don't take my word for it, let me sift through the stats to support it. Back in a bit.

 

You must spread some reputation yada yada yada. But this sums up my thoughts almost exactly.

 

I think the point you bring up about who "contributes" and who "earns" is a good one. The reason the gap grows is because wealthy people have the money to invest and grow their money. People in lower income brackets do not have the means to invest and grow their money. So lower income people are the "contributors" because they purchase the products/services. The upper income people are typically the providers who "earn" money on those purchased products/services. But this exists even in large countries like China. Where you have an incredibly poor rural group of people and an incredibly wealthy group of individuals in major markets.

So this is why growth in many lower income families takes several generations to break. My parents grew up in a rough area and didn't go to college. But made very successful careers for themselves and pushed college heavily to me & my brother. So we both graduated college and have taken that extra step towards good careers. Now hopefully my children will take that next step and do more than I did. But had my parents not worked hard, my life and my kids lives might look completely different. So personally I have seen the mobility that you can have in this country.