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Income Inequality in America

distraff

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Fact:
80% of all new income generated in this country from 1980 - 2005 went to the top 1%.
Introducing the Great Divergence - Slate Magazine

Fact:
The top 1% of America own 42% of America's financial wealth while the bottom 80% owns 4.7% of our financial wealth. The top 1% own 35% of America's net worth while the bottom 80% own 11% of America's net worth.
Who Rules America: Wealth, Income, and Power

Fact:
In 1982 the top 1% earned 12.8% of our national income. Today they earn 17,2% of our income. In 1982 the bottom 80% earned 48.1% of our nation's income. Today they earn 40.9% of our nation's income.
Who Rules America: Wealth, Income, and Power

Fact: The incomes of the top 1% have risen by 281% from 1979 - 2007. The incomes of the middle fifth of Americans has risen by 25% in that time range. It grew by just 16% for the bottom fifth. Most of the growth for the poor and middle class happened in the 1990's.
Income Inequality Is Not a Myth - Derek Thompson - The Atlantic

Fact: Wealth inequality is strongly correlated with how much we tax the rich. Since tax rates for the very richest was slashed in the 1980's, wealth inequality has started rising steadily.
http://c1ecolocalizercom.wpengine.netdna-cdn.com/files/2010/04/wealthgapchart1.jpg

Fact: Growth in income inequality is strongly correlated with sluggish median income growth.
http://www.the-crises.com/wp-content/uploads/2010/12/income-inequality-usa-18.jpg


Fact: Economic mobility is smaller in America than it is in Europe which has less income inequality. Countries with higher inequality have lower income mobility.
Inequality And Mobility In The United States - Business Insider

Fact: As income inequality rises in America, economic mobility falls.
America's Decreasing Economic Mobility

Fact: Only 15% of the bottom 80% will make it into the top 20%.
The Income Inequality Debate - Council on Foreign Relations

Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?
 

JC Callender

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One solution would be to cut out most of the entitlements, forcing people to put themselves in better positions to earn more.
 

Aunt Spiker

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You know what this shows me: that people are never satisfied with what they do have, and nothing is good enough. We're all pretty well off compared to the poor in other countries - and that's a sign of a good thing having taken place in our country, not a bad thing.

Instead, people are convinced that they're treated unjustly because we're not all earning a million dollars.
 

AlabamaPaul

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Less government intrusion into people's lives. Start by stopping the stupid redistribution of the limited health care resources from the middle class to the poor.

Why should there be any redistribution of the country's resources? I've never met anyone unwilling to support essential functions of our government, but I have met many that resent supporting able bodied individuals for an extended period of time......
 

P. Kersey

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Everyone in the nation should meet once a week and we should all pool our money and divide it evenly among ourselves so everyone has the same amount...and everyone should get free balloons, lollypops and pony rides. :roll:
 

GottaGo

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Fact:

Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?

What difference does it make what someone else earns?

Make your own worth, and worry about what YOU make.
 

polgara

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Why should there be any redistribution of the country's resources? I've never met anyone unwilling to support essential functions of our government, but I have met many that resent supporting able bodied individuals for an extended period of time......

Good evening, AP! :2wave:

I know I sound like a broken record, but FDR figured out a way to provide jobs through his alphabet programs, and this country is better for it today with the parks, dams, and other things they did. And the people at that time loved him for it! Why, with our crumbling infrastructure staring us in the face, can't something similar be done today? Somewhere along the way, someone decided it was better to just give money for no work? Look where that's got us! :thumbdown:
 

Fisher

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Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?

Outlaw computers, tablets, apps, video games, ipods and cellphones--the things the downtrodden waste their money on that goes either overseas or to the people at the top. Anything else I can do for you?
 

AlabamaPaul

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Good evening, AP! :2wave:

I know I sound like a broken record, but FDR figured out a way to provide jobs through his alphabet programs, and this country is better for it today with the parks, dams, and other things they did. And the people at that time loved him for it! Why, with our crumbling infrastructure staring us in the face, can't something similar be done today? Somewhere along the way, someone decided it was better to just give money for no work? Look where that's got us! :thumbdown:

Simple answer is everything today is done for political advantage, not what might be best for the country. With respect to this, I'm somewhat glad that I won't be around to see how this philosophy works out...

Good evening pg...
 

sookster

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I think the first step would be to place a regulation/policy requiring solvent companies to give back a percentage or portion of their profit back to the earnings of their employees. Without them the whole operation would not be possible.

There is a massive incentive to live in the United States through the protection our military offers to the one percent. Tax them, simply because it is so much easier to earn money when you have a higher principle to work with. With two mortgages (home and education loans) the debt constrains millions of Americans from earning more income. If we all had the money we would invest in financial instruments just like the wealthy. This is the predominant reason why money is shifting to the wealthy.

Strengthen the flow of money by increasing money to the other classes. It does not help to give people free money. It brings an incentive to do nothing. I am making it clear that I do not agree with that strategy. However I think a critical investment to our society would be the improvement of our educational system. Corruption with administrations have to be dealt with. New approaches of acquiring knowledge should be considered keeping in mind we do not live in the Renaissance anymore. Technology should be embraced and provided. A better education brings hope to the individual that there is a future for them, and pushes the individual to acquire the skills for a higher paying job. There should be incentives for people to pursue education and for the educators to educate well. Paying teachers the same regardless of their performance is detrimental to the entire system.

If we took the money of one B2 bomber (which is about 2.2 billion dollars) and applied that to the common good of Americans, and gave just a mere fraction of that to struggling schools -- this would bring more than a return on that investment financially by increasing the efficiency of money flow to other sectors of the economy. We have air supremecy for at least the next 15 years with the F-35 contracts, building two more air craft carriers, not to mention that every government program's funding is usually expanded by a certain percentage. (This is due to how the flow of money works with The Fed) We really don't need to improve on the technology that we got at the same rate. We can still improve, but we can dwindle the expansion rate of the budget and allocate it to other things. Our military force is the world task force. We put so much money into it not for the defense of our country, but the dominion over the world.

In short, we could reallocate the resources of the current budget to facilitate easier flow of money throughout the populace. I would be in favor for expanding the exploration of space for the technology developed by NASA is free to the public.

We need to rid this country of lobbying if we want the average American's voice to be heard. It is a no brainer that a study confirmed that the views of the wealthy are more prone to be heard in Washington than the non-wealthy. This would allow for regulations to help the middle class and shift money away from the 1 percent.

I'll stop. There is more that could be done but I guess this is a good start.
 

ttwtt78640

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Fact:
80% of all new income generated in this country from 1980 - 2005 went to the top 1%.
Introducing the Great Divergence - Slate Magazine

Fact:
The top 1% of America own 42% of America's financial wealth while the bottom 80% owns 4.7% of our financial wealth. The top 1% own 35% of America's net worth while the bottom 80% own 11% of America's net worth.
Who Rules America: Wealth, Income, and Power

Fact:
In 1982 the top 1% earned 12.8% of our national income. Today they earn 17,2% of our income. In 1982 the bottom 80% earned 48.1% of our nation's income. Today they earn 40.9% of our nation's income.
Who Rules America: Wealth, Income, and Power

Fact: The incomes of the top 1% have risen by 281% from 1979 - 2007. The incomes of the middle fifth of Americans has risen by 25% in that time range. It grew by just 16% for the bottom fifth. Most of the growth for the poor and middle class happened in the 1990's.
Income Inequality Is Not a Myth - Derek Thompson - The Atlantic

Fact: Wealth inequality is strongly correlated with how much we tax the rich. Since tax rates for the very richest was slashed in the 1980's, wealth inequality has started rising steadily.
http://c1ecolocalizercom.wpengine.netdna-cdn.com/files/2010/04/wealthgapchart1.jpg

Fact: Growth in income inequality is strongly correlated with sluggish median income growth.
http://www.the-crises.com/wp-content/uploads/2010/12/income-inequality-usa-18.jpg


Fact: Economic mobility is smaller in America than it is in Europe which has less income inequality. Countries with higher inequality have lower income mobility.
Inequality And Mobility In The United States - Business Insider

Fact: As income inequality rises in America, economic mobility falls.
America's Decreasing Economic Mobility

Fact: Only 15% of the bottom 80% will make it into the top 20%.
The Income Inequality Debate - Council on Foreign Relations

Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?

WOW, so many facts! I guess we need to let the federal gov't fix that, immediately, by setting a maximum wage, perhaps at the pay grade of the POTUS. Just in case someone cheats (actually accumulates over $1 million in personal wealth), take everything above that, upon their death (even sooner if they are ever adjudged to be mean), and give it out in a national lottery to all federal income tax taxpayers.

Oprah and Buffet will be so pissed off that even they may fuss over all of that "fairness". ;)
 

TurtleDude

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Fact:
80% of all new income generated in this country from 1980 - 2005 went to the top 1%.
Introducing the Great Divergence - Slate Magazine

Fact:
The top 1% of America own 42% of America's financial wealth while the bottom 80% owns 4.7% of our financial wealth. The top 1% own 35% of America's net worth while the bottom 80% own 11% of America's net worth.
Who Rules America: Wealth, Income, and Power

Fact:
In 1982 the top 1% earned 12.8% of our national income. Today they earn 17,2% of our income. In 1982 the bottom 80% earned 48.1% of our nation's income. Today they earn 40.9% of our nation's income.
Who Rules America: Wealth, Income, and Power

Fact: The incomes of the top 1% have risen by 281% from 1979 - 2007. The incomes of the middle fifth of Americans has risen by 25% in that time range. It grew by just 16% for the bottom fifth. Most of the growth for the poor and middle class happened in the 1990's.
Income Inequality Is Not a Myth - Derek Thompson - The Atlantic

Fact: Wealth inequality is strongly correlated with how much we tax the rich. Since tax rates for the very richest was slashed in the 1980's, wealth inequality has started rising steadily.
http://c1ecolocalizercom.wpengine.netdna-cdn.com/files/2010/04/wealthgapchart1.jpg

Fact: Growth in income inequality is strongly correlated with sluggish median income growth.
http://www.the-crises.com/wp-content/uploads/2010/12/income-inequality-usa-18.jpg


Fact: Economic mobility is smaller in America than it is in Europe which has less income inequality. Countries with higher inequality have lower income mobility.
Inequality And Mobility In The United States - Business Insider

Fact: As income inequality rises in America, economic mobility falls.
America's Decreasing Economic Mobility

Fact: Only 15% of the bottom 80% will make it into the top 20%.
The Income Inequality Debate - Council on Foreign Relations

Conclusion: Income inequality is a problem that needs to be dealt with. What is the solution?

most of the solutions end up being bigger diseases than the problem you whine about
 

P. Kersey

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I think the first step would be to place a regulation/policy requiring solvent companies to give back a percentage or portion of their profit back to the earnings of their employees. Without them the whole operation would not be possible.

There is a massive incentive to live in the United States through the protection our military offers to the one percent. Tax them, simply because it is so much easier to earn money when you have a higher principle to work with. With two mortgages (home and education loans) the debt constrains millions of Americans from earning more income. If we all had the money we would invest in financial instruments just like the wealthy. This is the predominant reason why money is shifting to the wealthy.

Strengthen the flow of money by increasing money to the other classes. It does not help to give people free money. It brings an incentive to do nothing. I am making it clear that I do not agree with that strategy. However I think a critical investment to our society would be the improvement of our educational system. Corruption with administrations have to be dealt with. New approaches of acquiring knowledge should be considered keeping in mind we do not live in the Renaissance anymore. Technology should be embraced and provided. A better education brings hope to the individual that there is a future for them, and pushes the individual to acquire the skills for a higher paying job. There should be incentives for people to pursue education and for the educators to educate well. Paying teachers the same regardless of their performance is detrimental to the entire system.

If we took the money of one B2 bomber (which is about 2.2 billion dollars) and applied that to the common good of Americans, and gave just a mere fraction of that to struggling schools -- this would bring more than a return on that investment financially by increasing the efficiency of money flow to other sectors of the economy. We have air supremecy for at least the next 15 years with the F-35 contracts, building two more air craft carriers, not to mention that every government program's funding is usually expanded by a certain percentage. (This is due to how the flow of money works with The Fed) We really don't need to improve on the technology that we got at the same rate. We can still improve, but we can dwindle the expansion rate of the budget and allocate it to other things. Our military force is the world task force. We put so much money into it not for the defense of our country, but the dominion over the world.

In short, we could reallocate the resources of the current budget to facilitate easier flow of money throughout the populace. I would be in favor for expanding the exploration of space for the technology developed by NASA is free to the public.

We need to rid this country of lobbying if we want the average American's voice to be heard. It is a no brainer that a study confirmed that the views of the wealthy are more prone to be heard in Washington than the non-wealthy. This would allow for regulations to help the middle class and shift money away from the 1 percent.

I'll stop. There is more that could be done but I guess this is a good start.

marxist doubletalk.
We've poured billions if not trillions of money into (government run) "education". There will always be people in society who can't/won't make it.
 

sookster

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But the overall system could be reformed. Ranging from regulations to the individual schools to what is actually being taught to the students and when it is taught. Our overall philosophy with regards to education has its roots to the Renaissance.

How does adding more money to education make me a Marxist? That doesn't make any sense.

How we allocate the money could be changed. Inner city schools have to be targeted. With the systematic and financial reform of struggling schools, this would pull surrounding communities out of poverty while participating in the free markets. There is nothing Marxist about that.
 

P. Kersey

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But the overall system could be reformed. Ranging from regulations to the individual schools to what is actually being taught to the students and when it is taught. Our overall philosophy with regards to education has its roots to the Renaissance.

How does adding more money to education make me a Marxist? That doesn't make any sense.

How we allocate the money could be changed. Inner city schools have to be targeted. With the systematic and financial reform of struggling schools, this would pull surrounding communities out of poverty while participating in the free markets. There is nothing Marxist about that.

hmmm...in re reading it I could only find this that might qualify as "marxist doubletalk". I apologize for being harsh and mischaracterizing your post.

sookster said:
In short, we could reallocate the resources of the current budget to facilitate easier flow of money throughout the populace.


NASA?...it's a goner...
sookster said:
I would be in favor for expanding the exploration of space for the technology developed by NASA is free to the public.

Well, NASA has a new mission, thanks to our president...and it isn't space exploration. NASA's new mission is;

In a far-reaching restatement of goals for the nation’s space agency, NASA administrator Charles Bolden says President Obama has ordered him to pursue three new objectives: to “re-inspire children” to study science and math, to “expand our international relationships,” and to “reach out to the Muslim world.” Of those three goals, Bolden said in a recent interview with al-Jazeera, the mission to reach out to Muslims is “perhaps foremost,” because it will help Islamic nations “feel good” about their scientific accomplishments.

In the same interview, Bolden also said the United States, which first sent men to the moon in 1969, is no longer capable of reaching beyond low earth orbit without help from other nations.

Bolden made the statements during a recent trip to the Middle East. He told al-Jazeera that in the wake of the president’s speech in Cairo last year, the American space agency is now pursuing “a new beginning of the relationship between the United States and the Muslim world.”


that is ******* STUPID.
I really can't decide if we've become an idiocracy or an ineptocracy...but this country is finished....


EDIT: I forgot the link

http://washingtonexaminer.com/obamas-new-mission-for-nasa-reach-out-to-muslim-world/article/1780
 

distraff

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One solution would be to cut out most of the entitlements, forcing people to put themselves in better positions to earn more.

What entitlements are you thinking of cutting and by how much?
 

JC Callender

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I would want generous entitlements for those with severe disabilities and very basic food, such as blocks of cheese and powdered milk and eggs, for those who are hungry and I would say cut everything else.

What entitlements are you thinking of cutting and by how much?
 

Fisher

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But the overall system could be reformed. Ranging from regulations to the individual schools to what is actually being taught to the students and when it is taught. Our overall philosophy with regards to education has its roots to the Renaissance.

How does adding more money to education make me a Marxist? That doesn't make any sense.

How we allocate the money could be changed. Inner city schools have to be targeted. With the systematic and financial reform of struggling schools, this would pull surrounding communities out of poverty while participating in the free markets. There is nothing Marxist about that.


We would be better off getting the federal government out of education altogether, but you are clearly on the side of more federal micromanagement.
 

Coin

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If you want equality, go back ask for socialism.

In capitalism this is the picture, you are free to make million $$.
If you can't it means someone else was better than you and he is not to be blamed.
 

distraff

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You know what this shows me: that people are never satisfied with what they do have, and nothing is good enough. We're all pretty well off compared to the poor in other countries - and that's a sign of a good thing having taken place in our country, not a bad thing.

Instead, people are convinced that they're treated unjustly because we're not all earning a million dollars.

Well you seem to have adopted the wrong attitude. There was a time when we expected that our children would be better off than us. We expected the future to be more prosperous than the present. Throughout our history, we have seen a continual increase in our nation's wealth and higher standards of living. Today, incomes have stagnated and things are getting tougher and tougher for the middle class. This is why I can't stand people who tell us to settle for what we have now, and not wish for something more for ourselves and our children. We are not a nation that settles for stagnation for all but the very richest. We are a nation that tries to build a better future for everyone.
 

Aunt Spiker

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Well you seem to have adopted the wrong attitude. There was a time when we expected that our children would be better off than us. We expected the future to be more prosperous than the present. Throughout our history, we have seen a continual increase in our nation's wealth and higher standards of living. Today, incomes have stagnated and things are getting tougher and tougher for the middle class. This is why I can't stand people who tell us to settle for what we have now, and not wish for something more for ourselves and our children. We are not a nation that settles for stagnation for all but the very richest. We are a nation that tries to build a better future for everyone.

And they are - we are.

Why isn't it good enough?

What more could our children and grandchildren WANT out of life?
 

P. Kersey

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If you want equality, go back ask for socialism.

In capitalism this is the picture, you are free to make million $$.
If you can't it means someone else was better than you and he is not to be blamed.

"Capitalism and communism stand at opposite poles. Their essential difference is this: The communist, seeing the rich man and his fine home, says: 'No man should have so much.' The capitalist, seeing the same thing, says: 'All men should have as much.' "
–Phelps Adams
 

TiredOfLife

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"Capitalism and communism stand at opposite poles. Their essential difference is this: The communist, seeing the rich man and his fine home, says: 'No man should have so much.' The capitalist, seeing the same thing, says: 'All men should have as much.' "
–Phelps Adams
Where's the neither is required, both are unacceptable?
 
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