the widening gap

Discussion in 'Current Events' started by Truthmatters, Oct 22, 2008.

  1. Truthmatters
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    OECD Report Finds Rising Income Inequality With U.S. Among Worst | AHN | October 22, 2008

    between the haves and the have nots.

    Only two of 30 nations, Mexico and Turkey, are ahead of the United States for income inequality and poverty rates, or the gap between rich and poor, according to a report released Tuesday.

    The report was released by Paris-based Organization for Economic Cooperation and Development of its 30 member-nations, most of which are developed countries.

    In America, the average income of the richest 10 percent of people is $93,000. When compared to purchasing power parity, it is the highest in the OECD when compared with the average of $54,000 for OECD nations.

    The poorest 10 percent of Americans have an income of $5,800 per year, compared to the OECD average of $7,000.

    In addition, the richest 10 percent hold 71 percent of American's net worth and 28 percent of total income, leaving 90 percent of the population to split the remaining 72 percent of the nation's income.
     
    Last edited: Oct 22, 2008
  2. user_name_guest
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    Those social programs in the 1960s really did their job. Social welfare reform impede on the have-nots by further restricting their economic growth as a result of dependency. Government invisible hand to these core of people (e.g. 24% of African-Americans in poverty) have led to the widening gap. As the ones who know how to benefit from this system, they further their gap from those comfortable with being "have nots". Imagine if the government kept the gold standard for our currency, our money will be worth something. Instead, they're paper and dependent on the supply and valuation.
     
  3. dilloduck
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    shh, don't say that. That would make the "have nots" feel better. They aren't suppose to feel that way. Especially election year. Meanwhile the have nots in 99% of the other countries have it better than us. Election year!
     
    Last edited: Oct 22, 2008
  5. WillowTree
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  6. dilloduck
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    good point---We don't want anyone to know how well off our "have nots" are.:eusa_shhh:
     
  7. user_name_guest
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    Saudis also have "have nots". More percentage of their population than ours. But according to OP, they probably are all "haves".

    Maybe if the "have nots" stop buying soo much things, especially on credit, the gap wouldn't have lengthened. But everyone wants a new car, new HDTV, be part of the country club.
     
    Last edited: Oct 22, 2008
  8. Truthmatters
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    10 percent hold 71 percent of American's net worth
     
  9. WillowTree
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    so yer gonna elect someone to rob em? solves all yer problems. then we live in utopia,,, ggggggoooooodddddd thinking. gimmme gimmme gimmme
     
  10. user_name_guest
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    You want that wealth. Earn it through your own hard work (through the hard work of others, and on it goes). Money don't grow on trees. They either earned it (which most of them do), inherited it (which is the result of their ancestors successes), or stole it (see: Wall Street Bailout), or won it ("lotto"). We work, we spend money, they earn, they spend, they do more whether it is earning wealth, paying taxes, spending money, investing either in the business sector or charitable organizations. We do the same thing. Just not as much.

    Giving it to people who don't have to work at all, won't decrease the level of "have nots", but increase it. Imagine if the rich didn't pay any taxes and just earn money, the have nots would actually be in a worse position. What pays this government, top ten percent = 71% of gov't revenue) is what keeps people in the bottom to sustain a mediocre lifestyle. Thanks to the gov't.
     
    Last edited: Oct 22, 2008

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