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In 2007, U.S. income inequality hit its highest mark since just ahead of the Great Depression in 1929. And that was before the current recession brought joblessness and financial peril to scores of Americans, most of whom are on the wrong side of the wealth divide.
According to the CIA's World Factbook, the United States now ranks 39th in the world when it comes to income inequality. What that means is that only 38 out of 136 countries have a less equitable distribution of income than the United States; the list of countries with a more equitable income distribution includes Iran, Russia, Turkmenistan and Yemen.
More equitable distribution does not equate to being better off financially. If 95 out of 100 families in whatever country make $300 per year, then they have a more equitable distribution of income, correct? Somehow, I don't think they are better off.
What's the point of going to school (or not), working hard and trying to better yourself if everyone gets paid the same?
I read the articles and wonder what the suggestion is. Do we tax those that make more because we make less? I am against any kind of policy that transfers wealth from one person to another. I am against minumum wage laws and would repeal a national minumum wage if possible. We live in a market economy and hurting those that produce and create just because they make more than us is not the answer here. Let the market decide what a job pays. If an employer offers you $10 and you will only work for $20 then find another job. No one is forcing someone to work for less than they want. If you think that you are worth more then prove it. The world pays well to those that produce. The suggestion is that the wealthy should be taxed and the lower incomes subsidized in effect paying someone for not doing anything. Just get a job and we will make sure that you have a living wage.
More equitable distribution does not equate to being better off financially. If 95 out of 100 families in whatever country make $300 per year, then they have a more equitable distribution of income, correct? Somehow, I don't think they are better off.
What's the point of going to school (or not), working hard and trying to better yourself if everyone gets paid the same?
Good point. So what if I live in a country that has a more equitable pay scale. If that were better people would not be doing what ever they can to come here to the USA. If the top 5% of our people make 7, 8, 9, or 10 figure incomes and I only make a high 5 figure income isn't that much better than a more equitable country where everyone makes 5 figures? we own homes here, we drive cars here, we have TV's in every room. Pick one of those other nations and see how many on the list live a life like we here in the USA do.
Good point. So what if I live in a country that has a more equitable pay scale. If that were better people would not be doing what ever they can to come here to the USA. If the top 5% of our people make 7, 8, 9, or 10 figure incomes and I only make a high 5 figure income isn't that much better than a more equitable country where everyone makes 5 figures? we own homes here, we drive cars here, we have TV's in every room. Pick one of those other nations and see how many on the list live a life like we here in the USA do.
Maybe that's our biggest problem? Do the countries that are far ahead of us live a more simplified lifestyle? Finland, Sweden, Germany, Singapore, Japan, Switzerland...Maybe the folks in those countries live a lot more simplified than we do.
If an employer offers you $10 and you will only work for $20 then find another job. No one is forcing someone to work for less than they want. If you think that you are worth more then prove it. The world pays well to those that produce. The suggestion is that the wealthy should be taxed and the lower incomes subsidized in effect paying someone for not doing anything. Just get a job and we will make sure that you have a living wage.
I am not disagreeing with your logic, as I do agree for the most part. But one thing I have seen over the last 10 years... Every potential employer is saying screw the worker. To succeed, a business must offer products cheaper than the competition. What we have now is a race to the bottom... Everyone is trying to undercut everyone else by chizzling away from worker's benefits and wages. In some locations, the employee has no other option because there are only those $10 an hour jobs to choose from, no $20 alternatives. That's why I fled the state of Michigan 6 months ago. They may well have been worth $20/hr ten years ago, but not in this economy. Sometimes, a new business will even come along and offer a product for a complete loss just to attract new customers... Usually they go out of business soon enough, but they risk taking out established businesses in the process. No one benefits! Even the companies that do win loose because many consumers cannot afford to buy their products.
This is not the first occurance of this "race to the bottom" mentality. Other countries have minimum wages set in place for various industries and professions. A plumber can't be paid less than $X, a mechanic can't be paid less than $Y, and so on... All to protect citizens from this nonsense. I'm not saying that's the right move for our country, but something has to give here. We have millions of people with full time jobs that do not make enough money to live, and so we all subsidize their lack of income through food stamps and other government programs. We don't even have 50% of American's paying taxes right now! This is completely unsustainable, as a race to the bottom benefits nobody, not even the companies that should be benefiting. The only real clear winners are the mega corperations that get out of paying their fair share... Just holding jobs over politicians head's demanding tax holidays... Cisco pulled that crap a few years ago, threatening to move jobs out unless the rules could be bent in their favor... And they have been on an outsourcing rampage these last few years... And guess who want's to bend the rules this year? Stupid and unsustainable, welcome to the race to the bottom, looks like we're going to win.
I am not disagreeing with your logic, as I do agree for the most part. But one thing I have seen over the last 10 years... Every potential employer is saying screw the worker. To succeed, a business must offer products cheaper than the competition. What we have now is a race to the bottom... Everyone is trying to undercut everyone else by chizzling away from worker's benefits and wages. In some locations, the employee has no other option because there are only those $10 an hour jobs to choose from, no $20 alternatives. That's why I fled the state of Michigan 6 months ago. They may well have been worth $20/hr ten years ago, but not in this economy. Sometimes, a new business will even come along and offer a product for a complete loss just to attract new customers... Usually they go out of business soon enough, but they risk taking out established businesses in the process. No one benefits! Even the companies that do win loose because many consumers cannot afford to buy their products.
This is not the first occurance of this "race to the bottom" mentality. Other countries have minimum wages set in place for various industries and professions. A plumber can't be paid less than $X, a mechanic can't be paid less than $Y, and so on... All to protect citizens from this nonsense. I'm not saying that's the right move for our country, but something has to give here. We have millions of people with full time jobs that do not make enough money to live, and so we all subsidize their lack of income through food stamps and other government programs. We don't even have 50% of American's paying taxes right now! This is completely unsustainable, as a race to the bottom benefits nobody, not even the companies that should be benefiting. The only real clear winners are the mega corperations that get out of paying their fair share... Just holding jobs over politicians head's demanding tax holidays... Cisco pulled that crap a few years ago, threatening to move jobs out unless the rules could be bent in their favor... And they have been on an outsourcing rampage these last few years... And guess who want's to bend the rules this year? Stupid and unsustainable, welcome to the race to the bottom, looks like we're going to win.
I really believe that the solution to our woes in this country starts at imports/exports. A more equitable trade system could really level the playing field. We are in a race to the bottom because we cannot compete with low-wage countries, and until we balance out somewhere in the middle (much lower than where we currently are at), we will continue to see a decline in our standard of living.
I really believe that the solution to our woes in this country starts at imports/exports. A more equitable trade system could really level the playing field. We are in a race to the bottom because we cannot compete with low-wage countries, and until we balance out somewhere in the middle (much lower than where we currently are at), we will continue to see a decline in our standard of living.
China imposes a 25% tariff on American goods. We impose 3% on theirs... We can compete, other countries just won't let us. Businesses here have done everything they can just to survive, including sacrificing worker's well beings and wages, but the trade policies just make America a terrible place to do business, unless your providing goods to American consumers. Our standard of living should have declined for decades... But people maintained that standard by taking out debt. Now we are looking at a potential deflationary recession, which Japan has gone through. Theirs lasted 20 years... Were only 3 years into ours. The only difference was theirs involved government debt. Our's is mainly fueled by consumer debt, so, their goes your potential American consumer base. Yea, we're finished unless something drastic changes. Right now, it's the standard of living that is in the crosshairs.
More equitable distribution does not equate to being better off financially. If 95 out of 100 families in whatever country make $300 per year, then they have a more equitable distribution of income, correct? Somehow, I don't think they are better off.
What's the point of going to school (or not), working hard and trying to better yourself if everyone gets paid the same?
I don't believe anyone is saying everyone should be paid the same. The crust of it all is that much of the wealth is in the hands of a select few.
How can you have a healthy economy/society when the vast majority of the population gets next to nothing.
Back in the 50s & 60s income distribution was more fairly distributed amongst everything and things were much better for everyone.
Granted, there's other things that have led to the demise of this country, and yes, all the woes are connected to Washington. Both parties played a part in putting us in the mess we're currently in.
Should Americans learn to live a more modest lifestyle. Maybe. But so should the rich and filthy rich. I see no reason why 97% of the country needs to give up things while the other 3% go on living like kings and queens.
I don't believe anyone is saying everyone should be paid the same. The crust of it all is that much of the wealth is in the hands of a select few.
How can you have a healthy economy/society when the vast majority of the population gets next to nothing.
Back in the 50s & 60s income distribution was more fairly distributed amongst everything and things were much better for everyone.
Granted, there's other things that have led to the demise of this country, and yes, all the woes are connected to Washington. Both parties played a part in putting us in the mess we're currently in.
Should Americans learn to live a more modest lifestyle. Maybe. But so should the rich and filthy rich. I see no reason why 97% of the country needs to give up things while the other 3% go on living like kings and queens.
Regardless of income distribution. If the US doesn't lower its trade deficit it won't really matter what the income distribution is because everyone will be poorer as a result of wealth being transferred out of the country.
People like to blame the rich and this and that for all our economic problems or why they are economically not well off. The fact of the matter is that the US economy has structurally changed. Its cheap to import stuff from anywhere in the world. Investors are shifting their investments offshore to keep their cost of production low. Meanwhile, consumers are buying up cheap imports because they want to save money. What is the ultimate result? High unemployment and the near complete elimination of any good paying jobs.
If you are looking for anyone to blame you need not look any further than your mirror.
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