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And I'll take the sunset. Memories last long after you can even remember what you bought today and put out with the trash 6 months from now. I'm old.....I've learned that to be true.
Why do you think there is such a range of acheivement and wealth in America? It seem like we are a nation of the obese and ultramarathoners, nonintellectuals and super scholars, working poor and uber rich,etc., etc.
It seems to affect the political process strongly. Although most Americans would consider themselves much more strongly egalitarian than the Europeans, which a feudal system, we are nonetheless highly stratified.
The mean means little. The median American is most of us, and that person is cash poor, debt laden, and worried. I guess I am wondering why we have allowed such tremendous inequalities to develop in our country. Economically, but in many other dimensions of human achievement.
It seems to me that Canada, the European, and East Asian countries are more equal, whereas Latin American is even more extreme. It seems to be that we are heading toward the latter. Do you agree, disagree? And where do you think we are headed?
Wikipedia:
to the United States Census Bureau, the pretax median household income in 2007 was $49,777. The median ranged from $65,469 among Asian American households to $32,584 among African American households.[62] Using purchasing power parity exchange rates, the overall median is similar to the most affluent cluster of developed nations. After declining sharply during the middle of the 20th century, poverty rates have plateaued since the early 1970s, with 11–15% of Americans below the poverty line every year, and 58.5% spending at least one year in poverty between the ages of 25 and 75.[84][85] In 2009, 43.6 million Americans lived in poverty.[62]
The U.S. welfare state is one of the least extensive in the developed world, reducing both relative poverty and absolute poverty by considerably less than the mean for rich nations,[86][87] though combined private and public social expenditures per capita are higher than in any of the Nordic countries.[88] While the American welfare state does well in reducing poverty among the elderly,[89] the young receive relatively little assistance.[90] A 2007 UNICEF study of children's well-being in twenty-one industrialized nations ranked the United States next to last.[91]
Despite strong increases in productivity, low unemployment, and low inflation, income gains since 1980 have been slower than in previous decades, less widely shared, and accompanied by increased economic insecurity. Between 1947 and 1979, real median income rose by over 80% for all classes, with the incomes of poor Americans rising faster than those of the rich.[92][93] Median household income has increased for all classes since 1980,[94] largely owing to more dual-earner households, the closing of the gender gap, and longer work hours, but growth has been slower and strongly tilted toward the very top (see graph).[86][92][95] Consequently, the share of income of the top 1%—21.8% of total reported income in 2005—has more than doubled since 1980,[96] leaving the United States with the greatest income inequality among developed nations.[86][97] The top 1% pays 27.6% of all federal taxes; the top 10% pays 54.7%.[98] Wealth, like income, is highly concentrated: The richest 10% of the adult population possesses 69.8% of the country's household wealth, the second-highest share among developed nations.[99] The top 1% possesses 33.4% of net wealth.[100]
Wealth, like income, is highly concentrated: The richest 10% of the adult population possesses 69.8% of the country's household wealth, the second-highest share among developed nations.[99] The top 1% possesses 33.4% of net wealth.
Right. And we even have the freedom to fail, although the libs want to make that go away. In countries with more "equal" wealth distribution the average standard of living is lower than ours (unless you're among the politically connected.)
Our poorest citizens have it better than the vast majority of so called average citizens in countries around the world.
Yes, we have an odd way of defining poverty. Most of our poor have color TVs, cars etc.
One person gets a great idea. To achieve that they employed people as assets. Those people make a livable wage while the orginator of the great idea gains wealth.
One of those workers sees a niche in the market and works hard to save and make that niche work which turns them in to the producer who, in turn, needs workers (assets) to grow their wealth.
Rinse and repeat and disregard what generation did it.
Add regulations aimed at providing one of those people with an advantage in that market and you get monopolies.
It's because the US has always been such an ultra-capitalist country as opposed to European welfare states. Non-regulated capitalism always brings about huge discrepancies in wealth and income
There isn't anything related to "ultra-capitalism" in too big to fail.
Free market capitalism and poor/ineffective social programs lead to increasing social stratification. The rich have the advantages, and they make the rules. Outliers exist, but our society is predicated on a lack of social mobility. The notion that we are a meritocracy is laughable, but we're very good at reproducing that particular bit of American mythology.
Lack of social mobility? I don't think so. Here's a fact for you to chew on for a while and see if it changes that belief; The average millionaire in America inherited zero or very little wealth, and is self made. More than 75% of them are first generation affluent.
Lack of social mobility? I don't think so. Here's a fact for you to chew on for a while and see if it changes that belief; The average millionaire in America inherited zero or very little wealth, and is self made. More than 75% of them are first generation affluent.
Which makes sense to me. When you start with little or nothing, it takes a long time to accumulate that level of wealth.
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