Wealth inequality-how it affects the economy

[MaggieMae]

In 1973, the top 10% held 49% of wealth; the bottom 90% held 51% of wealth. That means 37 years ago, middle- and lower-class citizens could afford to buy American, shop in small community stores, pay their bills and have savings accounts.

By 2005, the top 10% held 73% of wealth; the bottom 90% held 27% of wealth. That means that middle- and lower-class citizens can now only afford to buy cheap goods from China in giant big box stores that deal in volume, not quality, have difficulty paying their bills and saving at the same time.

This is not a Bush-bashing subject. It's a topic for discussion that big corporations run the economy now, and small businesses exist only to support them. There is no doubt about it.

Those who are so eager to return to the old ways of doing business, keep it small and simple, need to understand how impossible that has become when large corporations now set the stage for pricing, wage and benefit structure, and the myriad other management tools they employ in order to run an economy that is no longer affordable for small businesses to compete.

"Government" isn't the only villain in allegedly suppressing small businesses. How often does the army of U.S. Chamber of Commerce lobbyists descend upon Washington to advocate for keeping a small business competitive with big business?

 

[editec]

It not just destroying our economy (although it most certainly is) but it is also detroying the moral fabic of our people, too.

When enough people sense that the only way to make it in America is to lie, cheat, steal, and take every advantage possible, then the quality of ALL our lives goes down the shitter.

As almost every person here has already complained about.

Of course we cannot agree WHY this is happening, but few of us are here telling us that we're HAPPY with the way things are progressing.

 

[MaggieMae]

It not just destroying our economy (although it most certainly is) but it is also detroying the moral fabic of our people, too.

When enough people sense that the only way to make it in America is to lie, cheat, steal, and take every advantage possible, then the quality of ALL our lives goes down the shitter.

As almost every person here has already complained about.

Of course we cannot agree WHY this is happening, but few of us are here telling us that we're HAPPY with the way things are progressing.

Well it seems to me that far too many people are ignoring the major part corporatism plays in the destruction. Seems all I see are proclamations that "small businesses are the fabric of our society." Well sure, maybe even 20 years ago, but not today.

According to the Small Business Administration, a "small business" is defined as one that has a net worth of less than $8 million or a net income of less than $3 million. THAT'S THE ENTIRE BUSINESS!! Compare that to the salary and bonus ALONE of just the CEO of a big corporation (pick any industry). Who wouldn't rather work for a large corporation where the salary would undoubtedly be higher and include benefits? Bye bye mom and pop enterprises that were generational, family farms, even small restaurants and hospitality ventures.

Conservatives who believe the sun rises and sets with the theory that private enterprise should be left to its own devices most certainly have never considered the number of small businesses (which they put lip service to as being so important) that have gone under because they were trampled on by mega corporations (which, by the way, know all the tax loopholes and are able to take advantage of them).

 

[MaggieMae]

So far, this seems to be an unpopular thread for the right wing. Why's that, I wonder?

 

[Mr Natural]

Too bad we couldn't have asked the Russian peasants how they felt about the Czars' accumulation of wealth in the early part of the 20th century.

 

[editec]

It not just destroying our economy (although it most certainly is) but it is also detroying the moral fabic of our people, too.

When enough people sense that the only way to make it in America is to lie, cheat, steal, and take every advantage possible, then the quality of ALL our lives goes down the shitter.

As almost every person here has already complained about.

Of course we cannot agree WHY this is happening, but few of us are here telling us that we're HAPPY with the way things are progressing.

Well it seems to me that far too many people are ignoring the major part corporatism plays in the destruction. Seems all I see are proclamations that "small businesses are the fabric of our society." Well sure, maybe even 20 years ago, but not today.

According to the Small Business Administration, a "small business" is defined as one that has a net worth of less than $8 million or a net income of less than $3 million. THAT'S THE ENTIRE BUSINESS!! Compare that to the salary and bonus ALONE of just the CEO of a big corporation (pick any industry). Who wouldn't rather work for a large corporation where the salary would undoubtedly be higher and include benefits? Bye bye mom and pop enterprises that were generational, family farms, even small restaurants and hospitality ventures.

Conservatives who believe the sun rises and sets with the theory that private enterprise should be left to its own devices most certainly have never considered the number of small businesses (which they put lip service to as being so important) that have gone under because they were trampled on by mega corporations (which, by the way, know all the tax loopholes and are able to take advantage of them).

Complaints about inequity of income distribution don't necessarily have anything to do with large corporations v small businesses.

Small businesses can be just as rapacious as large ones.

In the 50's major corporations helped create the wealthiest middle class in the world.

But now that we've opened up the door for corporations to take their manufacturing operations off shore, while allowing the goods they make to come in to this market WITHOUT tariffs, those same corporations are basically no longer really part of this nation.

EXCEPT for their nexus on K street, of course.

They fucking own K street, hence they own Congress, the parties, and pretty much everything else in this nation where money and power matter.

We allowed them to do it.

Hell once the laws were passed they really have no choice BUT TO move their ops offshore.

 

[RetiredGySgt]

Ya lets seize everyone's money over say 2 million and let the Government redistribute it. You guys are such idiots. Envy is ugly.

 

[manu1959]

why are american made goods more expensive than goods made in china....

 

[hipeter924]

Inequality isn't the problem, but unemployment and poverty but even hard out socialists like Sweden can't solve that so I think we are pretty much stuck with it. Maybe reopen the steel mills, start making American cars again, and bring back the factories from China?

 

[Mr Natural]

why are american made goods more expensive than goods made in china....

Because American workers make more.

And what's wrong with that?

 

[boedicca]

Those who are so eager to return to the old ways of doing business, keep it small and simple, need to understand how impossible that has become when large corporations now set the stage for pricing, wage and benefit structure, and the myriad other management tools they employ in order to run an economy that is no longer affordable for small businesses to compete.

"Government" isn't the only villain in allegedly suppressing small businesses. How often does the army of U.S. Chamber of Commerce lobbyists descend upon Washington to advocate for keeping a small business competitive with big business?

Why do you think Big Business has so much power and control? Big Government enables it via regulations which Rig The Game.

 

[Luissa]

why are american made goods more expensive than goods made in china....

Because American workers make more.

And what's wrong with that?

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

 

[Luissa]

Those who are so eager to return to the old ways of doing business, keep it small and simple, need to understand how impossible that has become when large corporations now set the stage for pricing, wage and benefit structure, and the myriad other management tools they employ in order to run an economy that is no longer affordable for small businesses to compete.

"Government" isn't the only villain in allegedly suppressing small businesses. How often does the army of U.S. Chamber of Commerce lobbyists descend upon Washington to advocate for keeping a small business competitive with big business?

Why do you think Big Business has so much power and control? Big Government enables it via regulations which Rig The Game.

Who do realize that when the wealthy and corporations paid more taxes, we had more American jobs, and less outsourcing?

 

[hortysir]

Every "big" business started out as a "small" business.
Small businesses still provide the majority of the jobs.
If the number and wealth of big businesses has grown, logic tells me that small businesses have done well for themselves by growing in to a "big" business.

 

[manu1959]

why are american made goods more expensive than goods made in china....

Because American workers make more.

And what's wrong with that?

nothing....but when faced with a choice of buying something that is the same would one by the cheaper thing....

 

[Mr Natural]

why are american made goods more expensive than goods made in china....

Because American workers make more.

And what's wrong with that?

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

Penalize those that do and reward those that don't.

 

[manu1959]

why are american made goods more expensive than goods made in china....

Because American workers make more.

And what's wrong with that?

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

so tax foreign goods so they cost the same as us goods....forcing us folks to pay more or buy america right.....

 

[hortysir]

Because American workers make more.

And what's wrong with that?

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

so tax foreign goods so they cost the same as us goods....forcing us folks to pay more or buy america right.....

Sounds all warm and fuzzy, on the surface, but these are still small American businesses trying to maximize their profits.
It would wind up punishing Mom and Pop more than helping them.

 

[Mr Natural]

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

so tax foreign goods so they cost the same as us goods....forcing us folks to pay more or buy america right.....

Sounds all warm and fuzzy, on the surface, but these are still small American businesses trying to maximize their profits.
It would wind up punishing Mom and Pop more than helping them.

It worked back in the '50s, what's changed since then?

 

[manu1959]

Nothing! I say make it harder to buy goods outside of this country, stop letting every corporation move our jobs to third world countries, and stop letting corporations run this country.

so tax foreign goods so they cost the same as us goods....forcing us folks to pay more or buy america right.....

Sounds all warm and fuzzy, on the surface, but these are still small American businesses trying to maximize their profits.
It would wind up punishing Mom and Pop more than helping them.

as i am sure you know the us has done protectionism tariffs in the past......