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Old 03-05-2013, 05:00 PM   #1
Stankia
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Wealth Inequality in America

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Old 03-05-2013, 05:04 PM   #2
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Intelligence inequality in America, contributes to wealth inequality in America.
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Old 03-05-2013, 05:31 PM   #3
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Intelligence inequality in America, contributes to wealth inequality in America.
so according to you, those scientists, academics, and other smart people who work average paying jobs contribute to wealth inequality? Take for instance government employees with PhDs working at the National Labs doing research.

And what kind of intelligence are we talking about? People are versed in different things, some being good in sciences, and others in liberal arts.

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Old 03-05-2013, 05:38 PM   #4
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Blame the government
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Old 03-05-2013, 06:23 PM   #5
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This video appears to incite anger at the 1%. While I agree that there is a divide, I always ask what we do about it.

I have done a few hand calculations (posted in other threads). I don't think there is a lot of wealth to go around anymore. My latest theory is that the USA's economy may not be large enough to support our population. Even if we distributed things equally (as an example - not that I think people want to), the income equates to $55k/year. Hardly balling.

I don't have an answer. I certainly don't blame "rich people" for the problems of everyone else. I also don't blame the government whole-heartedly. I do think the USA wh()red our economy to China and other nations in our grand-globalization scheme. Service-based vs. Industrial economy arguement (which has been going on since the 1960s). I think we are a service based economy, which is lower-skilled than an industrial based one. And I think the above two reasons are why we have gotten to this point (and I believe that the cause of these things are both businessman and government policy).

But again, I don't know how to fix it except to become an economy that makes products that people purchase. We haven't given all of our manufacturing away, but we have given a lot away.
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Old 03-05-2013, 06:29 PM   #6
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so to take your comment a step further, lets ask why companies have outsourced their jobs in the first place. There are probably several reasons that make it cheaper to do so.
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Old 03-05-2013, 06:29 PM   #7
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No such thing as wealth inequality. The money supply is finite (unless bernanke prints more.) The money simply gets trasferred. Thank the politicians for it. Plenty of nothings making it big, and plenty of big turn to nothing. There are TONS of variables that skew the facts. Dumber youth, college students getting worthless degrees, student load debt dragging people down, entitlements, etc.
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Old 03-05-2013, 06:33 PM   #8
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so to take your comment a step further, lets ask why companies have outsourced their jobs in the first place. There are probably several reasons that make it cheaper to do so.
See below...

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Blame the government
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Old 03-05-2013, 06:33 PM   #9
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Old 03-05-2013, 06:35 PM   #10
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This video appears to incite anger at the 1%. While I agree that there is a divide, I always ask what we do about it.

I have done a few hand calculations (posted in other threads). I don't think there is a lot of wealth to go around anymore. My latest theory is that the USA's economy may not be large enough to support our population. Even if we distributed things equally (as an example - not that I think people want to), the income equates to $55k/year. Hardly balling.

I don't have an answer. I certainly don't blame "rich people" for the problems of everyone else. I also don't blame the government whole-heartedly. I do think the USA wh()red our economy to China and other nations in our grand-globalization scheme. Service-based vs. Industrial economy arguement (which has been going on since the 1960s). I think we are a service based economy, which is lower-skilled than an industrial based one. And I think the above two reasons are why we have gotten to this point (and I believe that the cause of these things are both businessman and government policy).

But again, I don't know how to fix it except to become an economy that makes products that people purchase. We haven't given all of our manufacturing away, but we have given a lot away.
Communism is about the only way to fully rid the division between societal classes. Read the Communist Manifesto if you want an idea what would happen. Socialism helps a little, but socialists understand that big business is essential, so there would still be class inequality.

That being being said, I don't want communism, but we can make small changes. Taking down any large corporations is virtually impossible, but we can at least fix what caused the recent recession.

The problem with that, is we're in a tug of war match politically, and the political agenda changes with the parties. Any progress we make economically, we can undo in a flash. Then we play catch up, and back to market equilibrium.
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Old 03-05-2013, 06:36 PM   #11
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Interesting presentation of perception vs reality.

The rest of the narration is filled with pretense and prejudice. Overall, it's a waste.
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Old 03-05-2013, 06:37 PM   #12
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See below...
I was thinking it was a more compounded problem. For example, cost of living is increasing, standard of living increasing, healthcare costs rising - all this (and more) contributing to the need for an employee's salary being higher than minimum wage. A company probably can't afford to have hundreds of employees meeting a salary that they need, even if just barely scraping by.

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Old 03-05-2013, 06:37 PM   #13
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Communism is about the only way to fully rid the division between societal classes. Read the Communist Manifesto if you want an idea what would happen. Socialism helps a little, but socialists understand that big business is essential, so there would still be class inequality.

That being being said, I don't want communism, but we can make small changes. Taking down any large corporations is virtually impossible, but we can at least fix what caused the recent recession.
Which is?
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Old 03-05-2013, 06:38 PM   #14
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no more out of control subprime lending, re-packaging mortgages, etc.

Of course this assumes big banks will act ethically, morally, and do the right thing







yeah right!

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Old 03-05-2013, 06:39 PM   #15
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I was thinking it was a more compounded problem. For example, cost of living is increasing, standard of living increasing, healthcare costs rising - all this (and more) contributing to the need for an employee's salary being higher than minimum wage. A company probably can't afford to have hundreds of employees meeting a salary that they need, even if just barely scraping by.
That too. And high corporate taxes. And more regulation. Countries like China and India have nowhere near the regulation we do.
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Old 03-05-2013, 06:41 PM   #16
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That too. And high corporate taxes. And more regulation. Countries like China and India have nowhere near the regulation we do.
yeah, but look at what we, as Americans, would call a violation of worker's rights, etc in those countries and how workers are treated.

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Old 03-05-2013, 06:44 PM   #17
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Which is?
Deregulation of banks which led to terrible security purchases, that led to faulty loans, that led to the government buying less securities, that led to banks lending less

Decreased taxes with increased expenditure for the war

Market uncertainty

Biased media sensationalism

Etc...
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Old 03-05-2013, 06:44 PM   #18
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yeah, but look at what we, as Americans, would call a violation of worker's rights, etc in those countries and how workers are treated.


The playing field is definitely not fair.
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Old 03-05-2013, 06:48 PM   #19
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Old 03-05-2013, 06:50 PM   #20
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Deregulation of banks which led to terrible security purchases, that led to faulty loans, that led to the government buying less securities, that led to banks lending less

Decreased taxes with increased expenditure for the war

Market uncertainty

Biased media sensationalism

Etc...
I guess we disagree then. Everything you posted is just a symptom, not the cause (the disease.)

Responsible people (like me) didn't buy 3 houses when they couldn't afford one. However, they did because they "could." This societal rot is the PROBLEM.

Decreasing taxes is never wrong. The government grew out of control and is constrained by nothing. When we couldn't print money, the government can't just print and keep on growing. The government should fit revenue, not vice versa. A government that is constrained by nothing will NEVER be paid for with tax revenue.

Market uncertainty is a PC word for market regulation and manipulation. I didn't hear too many people crying that their 401Ks were doubling every few years.

Media...no argument there, but this goes back to my first point....they cater to the irresponsible masses.
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