Why has the income disparity in US skyrocketed in the past 20 years? (private school, money)
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It is mathematical, in a few years a limited number of people will own the world.
In the same time all the indoctrinated, brainwashed simpletons who own no more than a couple of hundred dollars will endlessly rejoice.
Actually, that will be the point where things are so far out-of-whack that the rubber band must rebound and it'll be violent.
I'll go with less people graduating from high school, more people who do graduate but can't read, more young women having babies out of wedlock therefore less people being able to command a decent wage.
Actually, that will be the point where things are so far out-of-whack that the rubber band must rebound and it'll be violent.
After observing what has happened across the globe I sadly agree that this is indeed possible. Unfortunately that will further damage the ability of the average citizen to gain and obtain wealth and give even more power and wealth to those already holding it en mass. It is not as though the plight of the average Egyptian has improved since their "Arab Spring" nor has the life of the average greek improved with each bailout.
Quote:
Originally Posted by LauraC
I'll go with less people graduating from high school, more people who do graduate but can't read, more young women having babies out of wedlock therefore less people being able to command a decent wage.
The government footprint of entitlement policies in addition to NAFTA are all over those examples.
The Middle Class does stupid stuff like buy a $250,000 McMansion with 0% down at 6.5 % for 30 years.
How much interest is that?
$318,000
The Middle Class just gave the "rich" a gift of $318,000.
And why did the Middle Class voluntarily and willingly give away $318,000 to the "rich?"
No reason. The Middle Class likes to do things like that because they are stupid and infantile.
So, 10 Million American Middle Class idiots acting stupidly do what? Transfer $3,180,000,000,000 ($3.18 TRILLION) to the "rich."
Of course there's a "disparity" in wealth, but you blame the "rich" for something the Middle Class did voluntarily. Who's in denial?
At what price do the Middle Class idiots have to sell their McMansion to make an, um, "profit?"
$650,000
And if they don't, the Middle Class lose their shirts, and whose fault is that? That is their own fault. Can't blame the "rich" for that.
A chipmunk has the brains and common sense to save 25% to 35% as a down-payment on their $250,000 McMansion and pay only $79,956 in interest.
Sure, the chipmunk will have to endure terrible hardships and tremendous suffering to save up a 25% to 35% down-payment. They could only rent 4 NetFlix videos per day instead of 5, and they'd have to give up spending $15 at Starsux everyday, and reduce their visits to McDonald's from 37 times a week to 32 times a week, but those short-term sacrifices are definitely worth the long-term benefits.
The chipmunk can then sell the home later for only $450,000 and still make a "profit" of...
....$120,044
Even a snail has the common sense to save up for a down-payment and the snail would take the $238,905 in savings in interest from their home purchase and parlay that into $762,505 through investments, and $762,505 is what you would get by just putting the money into a very simple uncomplicated investment vehicle like a pass-book savings account.
So the snail ends up with $120,044 profit from the sale of their home plus $762,505 in savings, for a total of $882,549 in profits while the Stupid Class slob has take a loss of $356,905.
So there's your "economic phenomenon."
Let me guess, you want to punish the innocent by taking their wealth and giving back to the Stupid Class?
Why? Why would you do that?
You gonna set up a cabinet office? The Department of Wealth Redistribution? So how many federal employees will it take to run that? An annual budget of what, $500 Billion?
The Stupid Class will just turn around give of all of their wealth back to the "rich."
So what's the point?
This has nothing to do with regulation or deregulation and everything to do with societal attitudes.
I left the US and came back 10 years later only to find the shocking thing that you could buy a car with no money down. How stupid is that?
No money down for 60 months and 3 years into the loan you're upside down. And so the smart thing to do is what? Yeah, but another car with 0% down for 60 months so you can get upside down on that one too. And then buy another car with 0% down for 72 months so you can get upside down even faster.
People have thrown away $80,000 on perpetual car payments for a 3rd, 4th or 5th car that they didn't even need.
It's only $80,000 yeah only $80,000 that I could have written as a promissory note to an LLC or LLP for 10 years at 12% interest.
Or bought $80,000 in Euros and now I'd have $128,000
Again, sure, there's a disparity in wealth but that's only because the Middle Class doesn't want wealth.
Typical ******* divided everyone into groups and pit them against each other scheme.
If that ain't the pot calling the kettle black.
They whine about income disparity while being paid an average of 125x more in wages than 90% of the people on the Planet.
Reagan was president in 1979? In which alternative universe was that?
It was Carter and the Democrat-controlled Senate and Democrat-controlled House who deregulated the banks. That's why 18-year olds can get credit cards.
That happened, but most damaging structural changes occurred in people's attitudes.
A lot of truth here. you messed up on the income from passbook savings though.most only pay perhaps 1% at best.your better off buying things to beat inflation at 2%{if you have the cash}
The short answer is by design globalization. It's that way cause "somebody wants it that way" in other words.
Just further evolution of "collectivism" and oligarchy designs.
The US "govts" benefit from corporate profits, i.e outsourcing etc...
Yes good old NAFTA. I am sure Blood and Gore are getting ansy waiting for those carbon taxes to get underway.
That would be a fun new "derivative" bubble to blow up and pop.
Actually Hong Kong has been selling off more and more land, in order to increase their capitalistic position. HongKong Lands are one of the largest owners in the nation.
As I said, they release their land slowly to maximise profits, there's no neo-liberal fantasy going on here. The evidence is clear, without the State owning the majority of the land low taxes would be impossible. Now, I don't read much in Capitalist rhetoic about the State owning all the land? The Free mrket? Don't think so.
I'll go with less people graduating from high school, more people who do graduate but can't read, more young women having babies out of wedlock therefore less people being able to command a decent wage.
Only one right is probably women having babies out of weblock.
That would make America more socialist then, now wouldn't it?
Er, in case you haven't noticed, you do have a pretty big army, one slight difference from Hong Kong. Another, medical care is free in Hong Kong, one British socialist principle that has prevailed. And do 50% of Americans live in subsidised housing? They'd be lucky to get a park bench, even veterans who fought in World War 2, Vietnam and Afghanistan and Iraq.
But to you, threy're just lazy spongers I suppose, waiting in line at the soup kitchen. There's no words I could emote on here to describe the ignorance and betrayal I feel towards ignorant people like you.
LOL, this social conservative is sitting in a split level executive on a lake and my children are in private school. You should have more respect for the rich and wealthy who employ you. The reaeaon for the despairity is the great societies hand outs that gave power to the government to steal money from those who would earn it and give it to the lazy, corrupt unions and their own special interests
True...but I believe there is another very important fact that everyone seems to either be afraid to bring up or are not aware of same...probably depending upon in which decade you were educated and grew up. That is the failure of our education system to produce educated workers hand in hand with the failure of parents to turn off the TV, take away computers, cell phones, etc., and establish work ethics in their children as they grow up.
Most business of today will tell you that much of the work force is not capable of the job and/or is too lazy to put themselves out to do the job right. One of the rules for all employees is "if you make me (the owner[s]) money, you are worth the position and worth promoting and raising your salary; however, if you do not make money for me you are not worth hiring."
Actually, that will be the point where things are so far out-of-whack that the rubber band must rebound and it'll be violent.
And for sure it will be.
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The Free mrket? 
