NO opinion just fact on wealth

Discussion in 'Current Events' started by Iowa10000, Mar 2, 2011.

  1. Iowa10000
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    Iowa10000 BANNED

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    Do Americans know their country's wealth distribution?
    A remarkable study (Norton & Ariely, 2010) reveals that Americans have no idea that the wealth distribution (defined for them in terms of "net worth") is as concentrated as it is. When shown three pie charts representing possible wealth distributions, 90% or more of the 5,522 respondents -- whatever their gender, age, income level, or party affiliation -- thought that the American wealth distribution most resembled one in which the top 20% has about 60% of the wealth. In fact, of course, the top 20% control about 85% of the wealth (refer back to Table 1 and Figure 1 in this document for a more detailed breakdown of the numbers).

    Even more striking, they did not come close on the amount of wealth held by the bottom 40% of the population. It's a number I haven't even mentioned so far, and it's shocking: the lowest two quintiles hold just 0.3% of the wealth in the United States. Most people in the survey guessed the figure to be between 8% and 10%, and two dozen academic economists got it wrong too, by guessing about 2% -- seven times too high. Those surveyed did have it about right for what the 20% in the middle have; it's at the top and the bottom that they don't have any idea of what's going on.

    Americans from all walks of life were also united in their vision of what the "ideal" wealth distribution would be, which may come as an even bigger surprise than their shared misinformation on the actual wealth distribution. They said that the ideal wealth distribution would be one in which the top 20% owned between 30 and 40 percent of the privately held wealth, which is a far cry from the 85 percent that the top 20% actually own. They also said that the bottom 40% -- that's 120 million Americans -- should have between 25% and 30%, not the mere 8% to 10% they thought this group had, and far above the 0.3% they actually had. In fact, there's no country in the world that has a wealth distribution close to what Americans think is ideal when it comes to fairness. So maybe Americans are much more egalitarian than most of them realize about each other, at least in principle and before the rat race begins.
     
  2. Iowa10000
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  3. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    You know, i really don't care about wealth distribution. I am so sick and tired with people being obsessed with what other people have. What others have earned is none of mine or your dang business. Get off your butt and work for what you need.

    If you don't have what you need, it's not someone elses fault, it's yours.
     
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  4. uscitizen
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    uscitizen Senior Member

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    But without wanting what others have capitalism would not exist?
     
  5. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Capitalists and entripenuers see a need and they fill it! In doing so, they might get rich... so freeking what!

    This class warfare shit is getting ridiculous!

    I dont give a crap what someone else has or does'nt have. I will do just fine w/o what my neighbor has and I dont.

    It drives me to get my own.

     
  6. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    If it were'nt for the rich... the parasites in our presence would stave


    True Steery!
     
  7. Dr.House
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    Dr.House Lives on in syndication!

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    bullshit....
     
  8. rdean
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    rdean rddean

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    The Republican Right wing base see themselves as "millionaires" who are currently without funds.

    It's why they fight so hard to give tax cuts to millionaires. They feel when their money finally shows up, they will be able to "keep it".

    It's all about solidarity among millionaires. Those with millions of dollars and those who are millionaires, but currently without funds.
     
  9. Iowa10000
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    If you don't have what you need, it's not someone elses fault, it's yours.

    straight from the mouth of someone who got theirs, and then the next statement to be made is "if I can do it anybody can".

    But the truth was it's just about facts, your making it about something, all I was doing was showing to the world where we stand.

    And if you took the time to see what it says you might actually be able to get past your preconcieved position that someone is after your money so there is nothing to discuss.
    Who Rules America: Wealth, Income, and Power

    Take five minutes and look at where we are as a nation and then come back and talk to us.
     
  10. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    Someone IS after my money.... the US Gov't is, and they want to "re-ditribute" it or "spread the wealth" to those who refuse to do it for themselves.

    Im not rich by any sense of the word, but I seem to be in this administrations "crosshairs".

    So shut up with your "who rules America" crap, and think about what it would be like if the have nots suddenly ruled America.



    Jeez.... give me a break!
     

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