Changes in US Wealth Distribution 1989-2019

[georgephillip]

Labor is now exploiting business, demanding, and receiving, more pay and benefits than ever before. Even the minimum wage is largely a thing of the past.

Labor's gains today amount to very little when compared to fifty years ago when 30% of US workers had a union to negotiate on their behalf:

Would You Pay .5% of Your Salary to Employ Your CEO? - HRU Tech

 

[georgephillip]

When there is freedom, how can you exploit labor?

The freedom to watch your family starve if you refuse to be exploited seems a little hollow.

 

[Care4all]

Income Inequality Worse Under Obama Than George W. Bush

Income Inequality Worse Under Obama Than George W. Bush

www.huffpost.com

Of course it was, he inherited one hell of a crash and busted balloon, along with the biggest recession since the great depression! The wealthy always make out better than us peons in a recession...

 

[Mikeoxenormous]

And capitalism will die just like primitive communism, feudalism, and slavery did.

Socialism is its likely successor.

Historical materialism - Wikipedia

Do you know what a gulag is?

 

[Toddsterpatriot]

In the world of capitalism: things that never change:

Infamous Companies Exploit Child Labor for Their Own Benefit

"Renowned clothing and manufacturing industries are taking advantage of sweatshops run by child labor with billions of customers per day.

"Brands such as Nike, Amazon, Shein, Zaful, Urban Outfitters, Forever 21, and many others partake in running their businesses by employing overworked and underpaid manual workers"

No paying jobs and starvation is much better than low paying jobs and food, eh comrade?

 

[Toddsterpatriot]

And capitalism will die just like primitive communism, feudalism, and slavery did.

Socialism is its likely successor.

Historical materialism - Wikipedia

Well, Marx was a stupid twat.

 

[Toddsterpatriot]

Markets based on the ability to pay guarantee those without enough money die from lack of clean water, hunger, and curable diseases like malaria.

That's awful!

How are these deaths the fault of capitalism?

 

[Toddsterpatriot]

If your new job provides you with no input over what to produce, where to produce it, and how to distribute any surplus, you are still being exploited.

Exploitation of labour - Wikipedia

"Karl Marx's theory of exploitation has been described in the Stanford Encyclopedia of Philosophy as the most influential theory of exploitation.[1]

"In analyzing exploitation, economists are split on the explanation of the exploitation of labour given by Marx and Adam Smith.

"Smith did not see exploitation as an inherent systematic phenomenon in specific economic systems as Marx did, but rather as an optional moral injustice.[4]"

Inherent systematic phenomenon or optional moral injustice...what's your choice?

If your new job provides you with no input over what to produce, where to produce it, and how to distribute any surplus, you are still being exploited.

If the jobs pays you and you're free to leave, how are you being exploited?
The worker doesn't own any surplus, why are you whining about it?

 

[Toddsterpatriot]

The freedom to watch your family starve if you refuse to be exploited seems a little hollow.

You're free to be a poor miserable fuck, you've made a life out of it.

Poor exploited George.

 

[Toddsterpatriot]

Of course it was, he inherited one hell of a crash and busted balloon, along with the biggest recession since the great depression! The wealthy always make out better than us peons in a recession...

LOL!
Poor Obama.
He had a few months of recession and years of the weakest recovery in US history.

 

[Woodznutz]

How many millions of innocent human beings has capitalism killed in the last 500 years; how many is it killing as we speak?

https://www.tandfonline.com/doi/full/10.1080/10455752.2021.1875603

Reminds me of this from Acts.

"Whiles it remained, was it not thine own? and after it was sold, was it not in thine own power? why hast thou conceived this thing in thine heart?"

 

[Woodznutz]

In the world of capitalism: things that never change:

Infamous Companies Exploit Child Labor for Their Own Benefit

"Renowned clothing and manufacturing industries are taking advantage of sweatshops run by child labor with billions of customers per day.

"Brands such as Nike, Amazon, Shein, Zaful, Urban Outfitters, Forever 21, and many others partake in running their businesses by employing overworked and underpaid manual workers"

What else would these workers do to earn a living? Capitalism will eventually improve the lives of everyone employed by it. China's standard of living has risen so much that they are outsourcing work to other developing countries, which will also see improvement in their standard of living.

 

[Mac-7]

"How Did the Distribution of Wealth Change From 1989 to 2019?​

"Wealth became less equally distributed over the 30-year period.

"The share of total wealth held by families in the top 10 percent of the distribution increased from 63 percent in 1989 to 72 percent in 2019, and the share of total wealth held by families in the top 1 percent of the distribution increased from 27 percent to 34 percent over the same period, CBO estimates.

"By contrast, the share of total wealth held by families in the bottom half of the distribution declined over that period, from 4 percent to 2 percent."

Families in the bottom half lost 2% over 30 years which means the bulk of the wealth transfer went from the US middle class to the richest ten percent; what will the next 30 years bring for 90% of Americans?

Trends in the Distribution of Family Wealth, 1989 to 2019.

Are you a communist?

I suspect you blame big business and want government to insure equal wealth distribution

 

[Toddsterpatriot]

Are you a communist?

I suspect you blame big business and want government to insure equal wealth distribution

Non-stop failure and whining.

Clear indications he's a commie.

 

[Mac-7]

What else would these workers do to earn a living? Capitalism will eventually improve the lives of everyone employed by it. China's standard of living has risen so much that they are outsourcing work to other developing countries, which will also see improvement in their standard of living.

That bubble has burst

The chinese economy is in free fall because the communist government is afraid of capitalism

 

[Woodznutz]

That bubble has burst

The chinese economy is in free fall because the communist government is afraid of capitalism

China's economy is a mixture of socialism and capitalism, and is hardly in freefall.

 

[Mac-7]

China's economy is a mixture of socialism and capitalism, and is hardly in freefall.

Nonsense

China has huge economic problems

 

[Woodznutz]

Nonsense

China has huge economic problems

Doesn't every country?

 

[Mac-7]

Doesn't every country?

None on the scale of china

I can tell you have not been paying attention

Just the real estate crisis is enough to stop chinese economic growth in its tracks

Not to mention the ongoing covid19 shutdowns and unemployment of college grad youths of up to 20%

 

[Woodznutz]

None on the scale of china

I can tell you have not been paying attention

Just the real estate crisis is enough to stop chinese economic growth in its tracks

Not to mention the ongoing covid19 shutdowns and unemployment of college grad youths of up to 20%

They are predicting 5.3 percent growth next year.