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The deck is stacked in the favor of people who are smart, educated in something useful, and have a good work ethic. This is how it's always been in the United States. The post-WW II aberration where Mr & Mrs Joe Average could be prosperous in their union factory jobs is over. Automation and the rest of the world reconstructing and catching up economically saw to that. 2016. The same as 1916.
That's a lot of people. A lot of the "new poor".
Those people bought the products they helped to make. I don't know that working class was prosperous, but they were able to get by with an average lifestyle and to benefit the economy as consumers.
Most people are merely average and probably at this point in time, somewhat below average in intelligence and drive, and no amount of free education or training will change that. The new underclass is a frightening burden.
There is not a law or amendment that congress or any administration can pass that will make you rich or even pave the way to riches. If you’re waiting for the government you will never be rich. Of course you can sit and complain if that will make you feel better.
While I agree something needs to be done about income inequality I also agree that if you wait for a "hand-out" you'll never achieve or attain anything.
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Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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There has always been income inequality, and always will be, based on supply and demand. You cannot expect someone with little or no skills to make the same as someone with advanced degrees and 15 years experience in a highly specialized field. There are far more people available at the low end to take those jobs, so employers don't have to pay them as much. The current increase in disparity comes mostly from tech, with so much competition for the best developers, so that the employers keep raising pay to attract people away from their competitors. The CEO pay is also going way up for the same reason as tech, but there are not nearly enough of them to make much difference.Then the middle-income industrial jobs have gone away due to a combination of automation and outsourcing. The reduction in those jobs does not justify increasing pay for the low-end jobs, however, since the work they do has not changed to bring increased revenues or other value to the employer.
You could get a bigger monitor attached to a computer browsed to your ZeroHedge bible, then hire someone to sit there pressing the refresh key over and over alerting you when new content is available.
You could hire a graphic artist to design new emoticons and install them on the forums so your posts can be even further peppered with this high art form.
The possibilities are endless man...
It doesn't matter which side of this debate you're on. That is some high-grade funny right there.
Greatest income inequality ever, lots of pros available for dirt cheap wages!!
High frequency trading and AI bots making money in equities.
Globalism at it's record height.
Crony capitalism and lobbying thriving.
Again it is a great time to be in top 1%
We all can appreciate that
It's not the greatest inequality ever, it's only the greatest since (IIRC) World War II.
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