Separate but unequal: Charts show growing rich-poor gap

Discussion in 'Economy' started by uscitizen, Feb 24, 2011.

  1. uscitizen
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    uscitizen Senior Member

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    Wed Feb 23, 5:13 pm ET
    Separate but unequal: Charts show growing rich-poor gap

    The Great Recession and the slump that followed have triggered a jobs crisis that's been making headlines since before President Obama was in office, and that will likely be with us for years. But the American economy is also plagued by a less-noted, but just as serious, problem: Simply put, over the last 30 years, the gap between rich and poor has widened into a chasm.

    Gradual developments like this don't typically lend themselves to news coverage. But Mother Jones magazine has crunched the data on inequality, and put together a group of stunning new charts. Taken together, they offer a dramatic visual illustration of who's doing well and who's doing badly in modern America.

    Here are three samples:

    • This chart shows that the poorest 90 percent of Americans make an average of $31,244 a year, while the top 1 percent make over $1.1 million:



    [​IMG]

    Separate but unequal: Charts show growing rich-poor gap - Yahoo! News
     
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  2. william the wie
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    william the wie Gold Member

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    While I sympathize with your viewpoint income inequality is much smaller problem than income uncertainty. Since the 70s the standard deviation of annual income has been growing and been heading ever higher up the income ladder. There have been two sources for this result:

    The great inflation taught everyone alive at the time that financial leverage was better than sex.

    Also since the 70s the product life-cycle has been getting ever shorter. The half-life of an education has therefore been shrinking. This has not been adapted to. The lives of companies has also shrunk. The Fortune 500 is seeing ever more churn and I believe it is the Forbes 500 that includes the richest people and that has seen a lot of churn too.

    The fact is that increasingly the economy is becoming more erratic as a result of both causes.
     
  3. rdean
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    rdean rddean

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    The question is "Why do Republicans support this inequality"?

    The top ten donors to political parties - 7 big corporations - 3 unions. The reason the Republicans have been given the orders by their corporate masters to go after unions is to make it impossible to fight back. Corporations want to move all taxes to the middle class. They don't want to be bothered by clean air and clean water regulations. They don't want an educated public.

    The problem Republicans either can't see, or don't care about, is the country actually revolves around the middle class. Destroy the middle class and you destroy the country. The only thing standing in the way are the Democrats and the Unions.
     
  4. Leweman
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    Leweman Gold Member

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    Do you have a link for the donors? Ive heard the same thing. I was just curious who the donors are specifically.
     
  5. Leweman
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    Leweman Gold Member

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    The link I have from open secrets has the 13 of the top 20 donors donating heavily democratic, 6 donating to both parties nearly equally and 1 donating heavily republican. Thats odd.

    http://www.opensecrets.org/orgs/list.php?type=L
     
    Last edited: Feb 24, 2011
  6. California Girl
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    California Girl BANNED

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    So? Where in the Constitution does it specify the right to be equally wealthy as others? Oh, that's right. It doesn't.
     
  7. Anachronism
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    Anachronism BANNED

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    Exactly. I'd also love to see a similar chart on how much "risk" is taken by workers in America over the last 30 years. I'd be willing to bet that we find those at the lower end of the spectrum have little risk (ie... get welfare or easy, low-paying jobs with little chance of being fired for incompetence) compared to those at the upper end who have lots of risk (venture capitalists, industrialists, etc...)

    What's the old saying....

    "No Risk, No Reward."
     
  8. editec
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    editec Mr. Forgot-it-All

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    There's no mystery about the causes of this phenomena.

    The gap between the TRULY rich and everybody else continues to widen because our government under both the Dems and the Reps have put policies regulations in place that give advantages to capital, usually at the expense of the rest of the population.


    Now I realize that some of you believe this development isn't a threatening to our democratic republic.

    History suggests that you are wrong about that.

    But since so few of you apparently read any history, I can see how easily you can be lead to believe this is a benign development.

    Personally I think this trend is a social cancer that will destroy the American way of life.

    After all, I've been watching life in America get harder and harder for most of us since about 1970, when this development first reared its ugly head.
     
  9. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    It doesn't

    But it does cause one to question why we need to pass legislation that continues to favor the wealthy?
     
  10. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    You don't think workers take risk?

    When the wealthy take a risk and fail, who is the first in line to pay the price?

    The workers
     

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