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Gold Trusted Contributor
stop_bailouts
Posts: 2,982
Registered: ‎06-16-2009

The rich get richer and the poor get poorer

[ Edited ]

A snapshot of income disparity

 

"The incomes of the top 400 American households soared to a new record high in dollars and as a share of all income in 2007, while the income tax rates they paid fell to a record low."
 ...

 

America's 400 richest households increased their average income by 399%, while the bottom 90% of the country's households gained just 13%. (Those percentages, by the way, reflect inflation-adjusted dollars.)

...

 

Meanwhile, the national trend toward increasing income inequality is worse in Los Angeles County than in the country as a whole. Over the last two decades, only the top 1% of our salaried workers experienced significant income growth, while men and women earning the county median actually saw their inflation-adjusted hourly income decline by $2.

...

 

Here's a telling example: Over the last 10 years, financial managers enjoyed the largest occupational gains in income. Their average annual salary climbed from $96,302 to $112,632. At the same time, the wages of their executive secretaries and administrative assistants actually fell, from $45,058 to $44,075.

 

Message Edited by stop_bailouts on 02-25-2010 02:52 PM
Contributor
UdoKier
Posts: 45
Registered: ‎09-14-2009
0

Re: The rich get richer and the poor get poorer

Don't worry. Rich families in LA an California are leaving in droves. Things should get a lot better right?
Platinum Regular Contributor
STARCHY
Posts: 4,914
Registered: ‎02-17-2009

Re: The rich get richer and the poor get poorer

no one ever said life is fair
Gold Contributor
Jazzman
Posts: 1,544
Registered: ‎02-12-2009

Re: The rich get richer and the poor get poorer

Fairness is enshrined in the very fabric of modern society from proportional systems to equality before the law. The fact that is doesn't happen all the time is not justification to dismiss it, but a wake up call to ensure it's perpetual evolution.

 

The bottom decile of wages earners account for 30% unemployment, whereas the top tier accounts for only 3%.

Platinum Regular Contributor
STARCHY
Posts: 4,914
Registered: ‎02-17-2009

Re: The rich get richer and the poor get poorer


Jazzman wrote:

Fairness is enshrined in the very fabric of modern society from proportional systems to equality before the law. The fact that is doesn't happen all the time is not justification to dismiss it, but a wake up call to ensure it's perpetual evolution.

 

The bottom decile of wages earners account for 30% unemployment, whereas the top tier accounts for only 3%.


big difference between "fair" and "equal"
regardless, fairness of RESULTS is not guaranteed.
sink or swim. survival of the fittest. blah blah blah.....
the function of  government is not to generate equal results- its to protect the population from force and harm.

 

Silver Regular Contributor
Melner
Posts: 697
Registered: ‎07-03-2009

Re: The rich get richer and the poor get poorer


STARCHY wrote:
the function of  government is not to generate equal results- its to protect the population from force and harm.

Says who? In a democracy the function of gov't is what the majority choose it to be. If they want more financial equality so be it. I'd like to see 70%+ top-end tax rates like in other countries now leaving us in the dust. I'm not sure we live in a democracy anymore though.

Platinum Regular Contributor
STARCHY
Posts: 4,914
Registered: ‎02-17-2009

Re: The rich get richer and the poor get poorer


Melner wrote:

STARCHY wrote:
the function of  government is not to generate equal results- its to protect the population from force and harm.

Says who? In a democracy the function of gov't is what the majority choose it to be. If they want more financial equality so be it. I'd like to see 70%+ top-end tax rates like in other countries now leaving us in the dust. I'm not sure we live in a democracy anymore though.


we don't have a Democracy (majority rule) we have a Republic - that protects the individual from the whims of the majority
as for "top end" - who draws THAT line in the sand? 

 

Trusted Contributor
Glona
Posts: 165
Registered: ‎01-17-2009

Re: The rich get richer and the poor get poorer

I'm sure glad I'm one of those in the top incomes!!!!   :smileywink:
Silver Regular Contributor
Melner
Posts: 697
Registered: ‎07-03-2009
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Re: The rich get richer and the poor get poorer

[ Edited ]

STARCHY wrote:
we don't have a Democracy (majority rule) we have a Republic - that protects the individual from the whims of the majority
as for "top end" - who draws THAT line in the sand? 

 


Semantics... Our system defines "democracy" given how often that term is used to describe us, or at least what we used to be. Individuals are protected from the majority to only a limited degree; that's pretty obvious. The majority (via their reps) draws the line in the sand.

Message Edited by Melner on 02-25-2010 06:48 PM
Platinum Regular Contributor
STARCHY
Posts: 4,914
Registered: ‎02-17-2009
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Re: The rich get richer and the poor get poorer

^^^ gotta disagree there Melner. I'm not splitting hairs- they are two different things. Just because the majority of people are incorrect in their usage doesn't mean its correct.

 

Look at the nightmares we have in California because of this very distinction.

 

So following your original post- at what level would you propose we draw the 70% line? Personally I favor a flat tax- everyone pays the same- no deductions. And we as a nation would vote on the percentage on the same day we elect our leaders..