Why are the rich getting richer and the poor getting poorer in the US?

[initforme]

I know the feeling. I had a great job in my retirement I was 73 and coaching soccer in the Phila schools. I loved it and actively played as well. I dint need the money but I was helping children. The national organization sold the territory to two idiots as franchise. They stopped my expense account and converted my to an Independent contractor. I complained and was ignored. I was their most popular and experienced coach. So I gave them an ultimatum talk to me by 12 noon or I quit. I had classes scheduled that day. I sent a text I quit effective immediately. Now I get a call and they said you cant do that you have classes. My response I dont work for you, you made me an IC. FU

When they need you most, but do t meet your requests, its out the door. Too late.for them.

 

[Bitterhook]

I know the feeling. I had a great job in my retirement I was 73 and coaching soccer in the Phila schools. I loved it and actively played as well. I dint need the money but I was helping children. The national organization sold the territory to two idiots as franchise. They stopped my expense account and converted my to an Independent contractor. I complained and was ignored. I was their most popular and experienced coach. So I gave them an ultimatum talk to me by 12 noon or I quit. I had classes scheduled that day. I sent a text I quit effective immediately. Now I get a call and they said you cant do that you have classes. My response I dont work for you, you made me an IC. FU

More importantly, people should figure out how to do what they want to do.

If they want to work, it doesn't even have to be about the money, and they may enjoy contributing their effort or labor towards something that benefits others. They may want to get out of the house and engage in opportunities that reward them with far more than the money they manage to make doing so.

If they are not satisfied with the conditions they are working under, they can do as you mentioned and make choices that better serve their desires. It can involve gaining certifications becoming more valuable to their employers and giving them leverage or taking a risk and hanging out their own shingle using the skills they have learned.

Sometimes the key is simply understanding when what you are doing is just providing for your survival, and if you want more, then you have to figure out how you are going to get it. It doesn't have to all be about money, but money certainly helps and that cannot be ignored.

If someone begins to succeed and achieve goals like that, it is exhilarating and addictive. Just don't lose your bearings, and know when to step back, or you can literally kill yourself working and it will all be for nothing you get to enjoy.

 

[80zephyr]

Young folks are showing up for work. I dont buy into the young people dont have a work ethic rhetoric.

This might change your mind.

Gen Z really does have a work ethic problem

Or maybe we all do?

www.generationtechblog.com

 

[Parker99]

These are charts illustrating income inequality. It was relatively stable from the 1940s to the 1980s. Has been rising since then.

https://media.newyorker.com/photos/590951552179605b11ad2f98/master/w_1920,c_limit/chart-01.jpg

https://www.researchgate.net/profile/Yonatan-Berman/publication/301591761/figure/fig10/AS:362300671315981@1463390619907/Historical-economic-inequality-in-the-US-The-Wealth-blue-and-labor-income-orange.png

 

[Toddsterpatriot]

These are charts illustrating income inequality. It was relatively stable from the 1940s to the 1980s. Has been rising since then.

https://media.newyorker.com/photos/590951552179605b11ad2f98/master/w_1920,c_limit/chart-01.jpg

https://www.researchgate.net/profile/Yonatan-Berman/publication/301591761/figure/fig10/AS:362300671315981@1463390619907/Historical-economic-inequality-in-the-US-The-Wealth-blue-and-labor-income-orange.png

Technology really helps the people at the top earn more.

Mass unskilled immigration really hurts the people at the bottom.

 

[Parker99]

Technology really helps the people at the top earn more.

Mass unskilled immigration really hurts the people at the bottom.

So it is technology causing income inequality?

 

[HikerGuy83]

Why are the rich getting richer and the poor getting poorer in the US?

Also why is there so much inequality in the US?

Why was the economy different in 80s and 90s where inequality was less than it is today.

What is the basis for your claim?

What kind of metrics are you appealing to and what "differential" are you highliting.

It was Ben Stein who pointed out that the average poor family of today has more material goods than the solid middle class family of the 1950's.
And this was interesting:

The Poorest 20% of Americans Are Richer on Average Than Most European Nations

The US is so economically exceptional that the poorest 20 percent of Americans are richer than many of the world’s most affluent nations.

fee.org

 

[Slyhunter]

Why are the rich getting richer and the poor getting poorer in the US?

Also why is there so much inequality in the US?

Why was the economy different in 80s and 90s where inequality was less than it is today.

the definitions change.
The poor are poor because of what they do to become poor, same goes for the rich.
Investing in lottery tickets, vs. the stock market for example.

 

[Parker99]

the definitions change.
The poor are poor because of what they do to become poor, same goes for the rich.
Investing in lottery tickets, vs. the stock market for example.

But why do people say the 80s and 90s where better time for the middle class and poor?

 

[Slyhunter]

But why do people say the 80s and 90s where better time for the middle class and poor?

Housing was cheaper compared to income.

 

[Toddsterpatriot]

So it is technology causing income inequality?

Technology makes it greater.

 

[westwall]

Why are the rich getting richer and the poor getting poorer in the US?

Also why is there so much inequality in the US?

Why was the economy different in 80s and 90s where inequality was less than it is today.

Democrat policies

 

[Ringo]

They never have enough.

 

[JimH52]

Why are the rich getting richer and the poor getting poorer in the US?

Also why is there so much inequality in the US?

Why was the economy different in 80s and 90s where inequality was less than it is today.

The country is now ruled by Oligarchs. They are lead by the Felon in Chief.

The ultra-rich are gobbling up all the wealth they can, while the poorest of the poor struggle to survive. It is the republican way.

 

[Toddsterpatriot]

They never have enough.

He had no income in 2007 or 2011.

How much income tax should a person pay when they had $0 income?

 

[task0778]

Inflation is really hurting the lower income people moreso than the wealthy. And these days neither political party is doing much of anything to help the people that need it most. Most of the money that goes to various policies and programs that we are told will help the poor doesn't actually make it to them. And that is not exclusive to either party.

 

[Robert W]

Inflation is really hurting the lower income people moreso than the wealthy. And these days neither political party is doing much of anything to help the people that need it most. Most of the money that goes to various policies and programs that we are told will help the poor doesn't actually make it to them. And that is not exclusive to either party.

Inflation was so terrible when Biden was president, it takes time to recover and so far, Trump is doing a fine job.

 

[Robert W]

Why are the rich getting richer and the poor getting poorer in the US?

Also why is there so much inequality in the US?

Why was the economy different in 80s and 90s where inequality was less than it is today.

This story dates back to early history. The hunter gatherer went out and hunted and gathered. Desire is a huge factor. The poor are taught by Democrats they are really poor and falling behind. The rich tell their children to get educated, save earnings, invest earnings and they will do as well as the parents do.

So, when you have two directions, those will be followed.

 

[Robert W]

These are charts illustrating income inequality. It was relatively stable from the 1940s to the 1980s. Has been rising since then.

https://media.newyorker.com/photos/590951552179605b11ad2f98/master/w_1920,c_limit/chart-01.jpg

https://www.researchgate.net/profile/Yonatan-Berman/publication/301591761/figure/fig10/AS:362300671315981@1463390619907/Historical-economic-inequality-in-the-US-The-Wealth-blue-and-labor-income-orange.png

A human problem shows up. Take a professional football player. All are on the same team, playing for the same goals. Yet some get penalized a lot. Some score touchdowns when others doing the same thing don't score many. So, a team member earns a million dollars per season and others earn less than half that amount.

 

[Ringo]

The idea behind Trump's policies is to make the rich so wealthy that a little more starts to trickle down from their troughs.