Wealth Inequality in America .

Just watched this and thought you might want to see it too.

My question is how long can this go on before the masses can't take it any more, and how will it end?




References:

Linky

reply to post by Nightfury


I've seen that one before - enjoyed seeing it again. Thanks for bringing it up. It's appalling, isn't it?
What do you think about it?

It's an interesting video.

However, with today's mindset...you might as well be asking people to sacrifice their children.

Part of the problem...in my humble opinion...is our Gov regulations. We "really" don't have a free market economy. If we did, we would allow people with a clever mind and a good work ethic to get something started...but over regulation generally prevents many entrepreneurs from even getting started, much less compete.

If the Gov would drop alot of the local, state and federal requirements for start ups....and allow some things that are not legal now to be legal, people WOULD find a way to prosper. It's in human nature to do so.

As far as your question about how long will this go on and what will happen...we only have to look at history and see what the results of long term income disparity causes.

The French Revolution
The Bolshevik Revolution
The revolution of the People's Republic of China
The Cuban revolution

I am not saying for even an instant that these worked out well for the people. The French probably fared better than the other three, but I am sure some French would not even agree with that.

I think history tells us that if the Gov does not allow for the average person to have a equal and fair pathway to prosperity ( capacity to start and run a business in a fair and free market) then there is eventually going to be a problem for everyone.

This is just my opinion...

I believe in getting the Gov out of the way and let people do whatever it is they do best. Don't tax and regulate them to death before they can even get started. People will find a way to take care of themselves if you get out of the way and let them do it.

reply to post by Nightfury

My question is how long can this go on before the masses can't take it any more, and how will it end?

Answer #1. Obama was just re-elected, the Senate is still Democrat, the House is still Republican. As of half a year ago, the masses didn't want change. And remember, wealth inequality is greater under Obama than under Bush, and still the masses don't care.

Answer #2. The masses don't know that it is going on. The first part of the video showed how far their perception was from reality.

As another comment, the video kept using "wealth" and "income" interchangably. They're not. Someone who has their house paid for, but just lost his job, has a lot of wealth and no income.

Finally, the Pareto Principle (Worked out by one of us good Italian boys.) shows that in nature and human affairs, the 80-20 rule is valid. 20% of the pea plants produce 80% of the peas, 20% of the customers account for 80% of the sales, etc., etc.

The video shows that 20% of Americans have 93% of the wealth. That's high, but it's largely because homes, which is where most people have their wealth, have lost so much value. That hits the middle and lower classes the most because that's where they're most heavily invested.

Wealth inequality in the US will be brought to near-normal whenever the current administration can start some growth going again. This is the slowest recovery in the last 75 years, and the Atlanta Federal Reserve (or was it St. Louis, I forget) said the slow pace of the recovery was due to federal government policies.

Originally posted by charles1952
reply to post by Nightfury

 

Wealth inequality in the US will be brought to near-normal whenever the current administration can start some growth going again. This is the slowest recovery in the last 75 years, and the Atlanta Federal Reserve (or was it St. Louis, I forget) said the slow pace of the recovery was due to federal government policies.

And the crash in 2008 was the largest destruction of wealth in HUMAN HISTORY.

This trend started off long before Obama was president,

Frankly America is too stupid to care.

His thread will get 8 flags and die, while 102nd thread documenting Obama's fake birth certificate will make front page.


Via the half witted mentality of our brothers, we are lead to believe that the poor people are causing the lack of money all the way around.

You cannot fix low IQs, you just can't...

Thank you all for the comments so far.

I agree that there's just way to much regulation and red tape for the average Joe to start anything new. Unless you have a brilliant idea or strike it lucky with a great app, the average entrepreneurs will have a terrible time starting up much less compete. And if he does succeed, big companies buy them out and just become bigger.

Revolution might be in our future, but that will take some a lot more that the struggle we are in right now. People have been lulled into complacency. Kind of like boiling a frog.

“I believe in getting the Gov out of the way and let people do whatever it is they do best. Don't tax and regulate them to death before they can even get started. People will find a way to take care of themselves if you get out of the way and let them do it.”
I agree!

I also agree with “charles1952” wealth and income are totally different, but I do believe the video’s a pretty good presentation as to what’s really going on.

The whole 80-20 rule I don’t agree with. Not that it doesn’t exist, but that it doesn’t have to be that way.

Can you imagine what would happen if those top 1% would be a little more generous with their wealth? Imagine how they can actually change this whole country for the better. I’m not saying giving their money away too some lazy bum that doesn’t want to work or redistribute their wealth, but imagine if they use some of the wealth to invest in the people and not just buy people to further their own interest.

I’m not blaming the current government for all this, they are just doing the same as all the previous ones. I’m blaming the system. The system is broken and in dire need of repair. The only thing I DO blame the government for, is that they aren’t doing a thing to change the system.

reply to post by charles1952


The thing is, Charles, is that the top 1% have total control over a lot of those federal policies. I just watched an interesting documentary on Netflix the other night - and even though I knew about the unfair wealth distribution in America, and even though I knew that the very rich have some control over what happens in this country - I was still shocked and angered after watching this doc. I believe they said that the horrible inequality of wealth really started in the 1980's, and skyrocketed even more in the 90's. Deregulation??

Here's the trailer:

reply to post by kaylaluv


Thanks for the video.. looks really good!

Now I'm just talking off of the top of my head, but I've got a half-thought I'd appreciate you kicking around.

What is the problem with wealth inequality?

I know we're all supposed to be equal in everything and that "inequality" is an emotionally bad concept, but what is the general harm, over time, to wealth inequality.

Pick somebody, call her Mandy. Mandy has just finished High School. She owns nothing and owes nothing. Her wealth is 0.

She goes to college, buys a few household items, maybe $2000 worth, and gets loans totalling $50,000. Her wealth is now $ -48,000.

As she goes through life she picks up more assets, maybe a house and a car. She also picks up more debt, a mortgage and car payments. Sometimes her wealth is close to zero, other times she'll have a little.

After a while her debts get paid off, her income grows and her assets increase. So, Mandy has gone from negative wealth to a very solid middle or upper-middle class position.

You can say the same thing about immigrants that I just said about High School graduates. I expect there to be inequalities in wealth. Something would be very wrong if there wasn't. This video was just a snap shot of people at one point in their lives and for some it was a point when their wealth was low.

What would be a real problem would be if Mandy had no way to move up or gain wealth. But that's not we're talking about here.

Well produced video, but missed the point.

With respect,
Charles1952

reply to post by charles1952


What you are saying is correct and brings up a good point. It is only a snapshot in time.
Now let look at your example and I'm going to point you to the problem as I see it, and again, only my opinion...

Mandy started out with very little, made some good choices and excelled. She lived the American dream and seemed to end up doing pretty well for herself. Now that didn't happen overnight. She worked hard and made something of herself.
During the time "Mandy" worked her way up the American dream, the 1% 's wealth exploded…
Each individual can change where they are on the graph, by making good choices in life.
I am not saying we should all have the same, because we shouldn't.
The thing is, "Money makes money" and when the 1% uses their money to suppress and try to control the rest, that’s the problem, because as you know, “Money talks”.
If upper part of the graph just kept their money to themselves or used it for the better of the community, I’d be cheering for it, but unfortunately most don’t. They use it to further their own agenda, which normally have something to do to either control and destroy and in the end make them more money.

reply to post by Nightfury


Dear Nightfury,

Well done! I agree with your post completely. I love it when I can learn something new and walk off into the sunset in full agreement with an ATSer. You've nailed it. Can I buy you a beer?

We've refined the problem to the point where it's less about how much wealth someone has, but what they do with what they have. I agree there are better things to do with wealth than to buy $700,000 cars, fur dying for a poodle, or the vote of a Congressman.

What do we do about it? I can only see two paths. Either use government power to force people to spend their money in certain ways (or take it from them), or set up a series of incentives to encourage people to spend it in better ways. I'm not too excited about using government force. I'm ashamed to admit it, but I don't trust them any more.

What kind of incentives? Here we've got to be a little more creative. And remember, this is just one of the crazy ideas that I get when I'm goofy. In England someone can get the title of Duke of Westchester, "Sir," "Baron," or "Earl." Could we do something like that here? Donate a million dollars to a national organization and win the title "Sir." Donate it to a particular town and get called the "Baron of Springfield."

We could have City, State, and Federal "Medals of Philanthrophy." States could issue special license plates, pass resolutions declaring "Nightfury day of Appreciation" with fancy calligraphy and seals, on a document suitable for framing. Perhaps a bust in the State Capitol. You could upgrade it to a plaque and a full size statue for the really big givers.

I'm getting carried way, but you can see what I'm thinking. Provide the wealthy for a reason to change their hearts and attitudes. I'm against forcing, but all for persuading. That, by the way, is also the difference between rape and marriage.

WAY OFF TOPIC -> Is our government full of people who are all about power for themselves? Could it be that they are more interested in "Force" than "Persuasion?" Are we being "raped" by our government? It feels that way sometimes.

With respect,
Charles1952