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Over the past 35 years, the productivity of American workers has increased by 90%. The incomes of the top 1% have increased by about 240% while the income of a typical worker has increased by about 8%. If the wages of workers had increased at the same rate as their productivity, the median US income today would be about $90,000 instead of about $50,000.
Great point! Yes, we wouldn't be nearly so worried about taxes, or funding SS, or the high cost of education if our incomes were nearly 2x as high!
Except I'd like to point at an important aspect of the "1%". From the 99.0 to 99.9%ile incomes rose <100%. In other words that gain was right around the productivity increase, so nothing extraordinary. But income gains become increasingly huge above that level, with the 99.99+%ile (top 0.01%) seeing about a 700% increase!
So when we talk about the 1% we are completely missing just how few hands all of our gains of the last 35 years have landed in. Most of it has gone to a very select group of mega-rich. And the odds are great that the ones who benefited the most are the same ones who've managed to manipulate government polices in their favor. In other words, oligarchy.
Nummi (for New United Motor Manufacturing Inc.) was a joint project with GM. GM was forced to pull out during their bankruptcy proceedings. Toyota was not willing to carry the plant all by itself. Nothing more to it than that.
Great point! Yes, we wouldn't be nearly so worried about taxes, or funding SS, or the high cost of education if our incomes were nearly 2x as high!
As I've noted before, the Europeans have for the most part sensibly taken care to assure that their middle and working classes are paid well enough to be able to afford to pay the taxes needed to fund the welfare systems they ultimately need. We have NOT done that. It is only the wealthy in this country who can afford to pay for the welfare systems that the middle and working classes need. Bad planning by us.
Quote:
Originally Posted by rruff
Except I'd like to point at an important aspect of the "1%". From the 99.0 to 99.9%ile incomes rose <100%. In other words that gain was right around the productivity increase, so nothing extraordinary. But income gains become increasingly huge above that level, with the 99.99+%ile (top 0.01%) seeing about a 700% increase!
Yes, in some sense there's a whole fractal dimension to all this. The bottom 90% of the top 1% are being abused to the same relative degree as the bottom 90% of the 100%.
Quote:
Originally Posted by rruff
In other words, oligarchy.
Not there yet, and I doubt that we'll ever get to that point. I could be wrong of course, if people just fall asleep.
As I've noted before, the Europeans have for the most part sensibly taken care to assure that their middle and working classes are paid well enough to be able to afford to pay the taxes needed to fund the welfare systems they ultimately need. We have NOT done that. It is only the wealthy in this country who can afford to pay for the welfare systems that the middle and working classes need. Bad planning by us.
Yes, in some sense there's a whole fractal dimension to all this. The bottom 90% of the top 1% are being abused to the same relative degree as the bottom 90% of the 100%.
Not there yet, and I doubt that we'll ever get to that point. I could be wrong of course, if people just fall asleep.
I thought the Democrats New Deal was supposed to reduce poverty? So after 50 years it didn't work so lets keep doing more of the same. While your at it throw money my way.
I thought the Democrats New Deal was supposed to reduce poverty? So after 50 years it didn't work so lets keep doing more of the same. While your at it throw money my way.
It has reduced poverty. You only have to read the stories from the Great Depression.
Poverty in the United States is that of the mind and opportunity. I heard a statement that our welfare residents are in the top 1% in income on a world wide basis.
We really need to focus on opportunity. If you want to stay poor....fine. But anybody that has the gumption and effort to work their way out of poverty should get all the help they need.
It has reduced poverty. You only have to read the stories from the Great Depression.
Poverty in the United States is that of the mind and opportunity. I heard a statement that our welfare residents are in the top 1% in income on a world wide basis.
We really need to focus on opportunity. If you want to stay poor....fine. But anybody that has the gumption and effort to work their way out of poverty should get all the help they need.
So we don't have poverty anymore? Great!!!! we don't need to pay welfare then.
Read how the U.S. almost went into another depression then there was WWII.
It has reduced poverty. You only have to read the stories from the Great Depression.
Poverty in the United States is that of the mind and opportunity. I heard a statement that our welfare residents are in the top 1% in income on a world wide basis.
We really need to focus on opportunity. If you want to stay poor....fine. But anybody that has the gumption and effort to work their way out of poverty should get all the help they need.
LOL, people don't want help. They want to have pity parties for themselves.
You're funny. Poverty has been reduced substantially. Just since the 1960's its been reduced by 1/3 and the figure was more like 50% until the recession of 2008.
So, in your mind since it has not been 100% eliminated you judge these programs a failure. Pretty hard to reason with someone who thinks like that. Nothing on earth is perfect. Including the capitalist system. Remember that.
You're funny. Poverty has been reduced substantially. Just since the 1960's its been reduced by 1/3 and the figure was more like 50% until the recession of 2008.
So, in your mind since it has not been 100% eliminated you judge these programs a failure. Pretty hard to reason with someone who thinks like that. Nothing on earth is perfect. Including the capitalist system. Remember that.
I know nothing is perfect and why I prefer to use my money to take care of my family, not yours. I don't want to waste my money on a government that gives money to people who refuse to do anything to help themselves.
You want to give your money away, do it then.
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