Top 1% gained $50 Trillion Over Bottom 90%

Life magazine puts their Marxist, warfare, hate the rich spin on it. I get it. Use some sense when reading between the lines of "Pravda," "Tass"

& "Isvestia."

But I've been in enough companies that pulled up shop, fired workers and sent production overseas to know that the Middle social contract has been - possibly irrevocably - broken.

A nation cannot live by bread alone, much less without it.

We gave China the cash cow and they sold us the watered down milk which we can now barely afrord shoping at the 99 Cents stores popping up all over the place...

Get a divorce and hand over half your current and future sh*t to your exl, and like multitudes you're really up Sh*t Creek without a paddle for a long time.

I vote for a return to 1957.  

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most folks used to earn more than their parents, but since the people born in 1980 and onward, its about only 50% now....

not a good statistic

https://opportunityinsights.org/national_trends/

![](upload://mLi1qpNV5vQzxYSTayjQ4MenXfC.png)

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amadeus - 

And how much poorer are you simply because they’re richer... The purchasing power of your dollar is hurt far more by rising taxes than it is their wealth.

You’re making the common mistake of viewing it all entirely through a consumer lens

Look at it through the lens of political power and influence. That’s where the real threats and implications are.

ryunz -
FETT_Lay'n'PrayNINJA -
androb -
97B_96B - 

If you kiss the Middle goodbye, kiss America goodbye.

Who wants to be ruled by a Plutocratic, Aristocratic, Oligarchy of communist China "free trade" lovers?

Good luck having free and fair elections in the future. The corrupt political will be bought off and we'll be sold out...

https://time.com/5888024/50-trillion-income-inequality-america/      

cliffs

over what time period?

Was covid the catalyst of this wealth redistribution

 

Let’s say covid was the catalyst. Do you think that helps your arguments/stances? 

To me, it exposes that the "stimulus" was what everyone knows it was. A lopsided Oligarchy stimulus that used our tax money  and VASTLY benefited the corporations and .1%ers, while giving peanuts to the people who needed it the most...

Agree. Let's shrink the size of the government to stop cronies getting government billions

Well that's a lovely pipe dream that will never happen under either of the fake "teams" and forced 2 party system we have. They ALL love and want more and more power and control. 

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amadeus -

And how much poorer are you simply because they’re richer... The purchasing power of your dollar is hurt far more by rising taxes than it is their wealth.

Tell that to the millions of native south easterners being out bid in their own housing market by big money Cali/New Yorkers who are over paying for property.  Essentially displacing people and destroying regional housing markets with their "wealth"

The American Dream has been central to American national identity since the country’s founding. There are many ways of defining the American Dream, but one widely used measure is the fraction of children who grow up to earn more than their parents.

Our research provides new estimates of this measure for children born in 1940 through today.

We find that more than 90% of children born in the 1940s grew up to earn more than their parents. But, over the past fifty years, this measure of the American Dream has been in decline. Today, only half of children grow up to earn more than their parents.

Why have rates of upward income mobility fallen so sharply over the past half century? There have been two important macroeconomic trends that lead to this change: a reduction in aggregate growth rates and changes in the distribution of that growth. We find that the decline in absolute upward mobility is primarily driven by the latter effect: allocating the same economic growth equally would close more than two-thirds of the decline in upward mobility.

What can be done to improve upward mobility in the next generation? At Opportunity Insights, we conduct research to identify areas where the American Dream is still thriving, and we harness our findings to help develop policies aimed at restoring upward mobility. We examine upward mobility through a range of lenses educationneighborhoods, and race to understand how outcomes differ across local institutions, places, and subgroups. Our research arms policymakers and civic leaders with the data necessary for evidence-based policy interventions that aim to make the American Dream a more attainable reality.

Glory Kickboxing -
amadeus - 

And how much poorer are you simply because they’re richer... The purchasing power of your dollar is hurt far more by rising taxes than it is their wealth.

You’re making the common mistake of viewing it all entirely through a consumer lens

Look at it through the lens of political power and influence. That’s where the real threats and implications are.

You’re conflating two different things. You can be rich and not exert undue political influence, and you can be a politician and not be corrupt. The issue isn’t the rich, the issue is political corruption... When we as a country start coming down hard on corruption the problem will take care of itself.

NKcell -
amadeus -

And how much poorer are you simply because they’re richer... The purchasing power of your dollar is hurt far more by rising taxes than it is their wealth.

Tell that to the millions of native south easterners being out bid in their own housing market by big money Cali/New Yorkers who are over paying for property.  Essentially displacing people and destroying regional housing markets with their "wealth"

That’s a legitimate issue... But that isn’t because the dollar in the south East is worth less, it’s because the cost of living in NY and Cali has been so high for so long that when these people move in they have more money by default. If a poor person in Cali were to sell their home and move in to the south East they’d be able to price out most native people in the housing market.

EazyG -

most folks used to earn more than their parents, but since the people born in 1980 and onward, its about only 50% now....

not a good statistic

https://opportunityinsights.org/national_trends/

![](upload://mLi1qpNV5vQzxYSTayjQ4MenXfC.png)

Is this an estimation using household income?

Is it personal reporting?

What exactly is this?  I ask because while I'm sympathetic to this issue and think there certainly is an attempt to destroy the middle what's driving it and how the stats play out I dispute greatly.

Sowell already blew up a half dozen arguments like this erroneously using household income and not individual income.

Ok yea its household income at the age of 30.  

Throw that entire paper in the garbage, those numbers will wildly mislead people.

Show me comparative individual income at 50 adjusted for inflation and tell me what the results are...my guess is they will be upside down from the point they are trying to prove. 

The root problem is a monetary system that leads to the survival of the fattest rather than the fittest, and encourages croynist entrenchment.  This is exacerbated by international corporations who in no way have to worry about the future of the US when worrying about the future of their bottom line.

In a system run on debt instead of savings, this will be the result of a crash.  The lockdowns are causing the same effect, only accelerated...annihilating anybody without the financial obesity to ride it out and gobble up all the cheap assets in the aftermath.  

I always love when guys making 60k a year defend the rich getting richer. They probably believe if they keep at it they will eventually be in the 1%.

Charles Barkley -

The wealth gap in this country is a huge problem. I lean conservative but you can’t look at the salary or income gap and not see a major issue. 

 

In the last 40 years the average American workers wages and salary have increased 12%.

 

The average CEO salary has increased 940%. 

 

This is just complete bullshit. Do you feel the "average" american worker does enough in their standard job to have earned a 940% increase? Does the employee ringing up your groceries deserve a 940% raise? The guy who delivers your mail. Does he deserve or has he earned the right to a 940% increase in his salary?

So many people speak out against CEO's earning large bonuses and being paid millions of dollars who have very little to no clue at all what they contribute to their company. 

If you think you deserve more then go out and attempt to make more. So many people who cry foul are also the same people with little to no drive in wanting to make their lives better. The ambition they have is for other people to give them hands out as they believe they too should earn the same cut of the pie as the people they are working for. In other words there is a reason they are part of the 1% and it has nothing to do with them being handed millions of dollars.

Kwang - 

I always love when guys making 60k a year defend the rich getting richer. They probably believe if they keep at it they will eventually be in the 1%.

LOL you realize that the guy making $60k is in the 1% of earners worldwide right?

if we start stealing more from the 1% earners Locally - how long until the guy making $60k starts to get his money siphoned because people in China, africa, India, NK etc dont make enough?

Is that “fair” to them?

androb -
Kwang - 

I always love when guys making 60k a year defend the rich getting richer. They probably believe if they keep at it they will eventually be in the 1%.

LOL you realize that the guy making $60k is in the 1% of earners worldwide right?

if we start stealing more from the 1% earners Locally - how long until the guy making $60k starts to get his money siphoned because people in China, africa, India, NK etc dont make enough?

Is that "fair" to them?

 

LOL. Moves the goalposts to "worldwide" when he knows the poster was discussing America. 

baj54 -
Charles Barkley -

The wealth gap in this country is a huge problem. I lean conservative but you can’t look at the salary or income gap and not see a major issue. 

 

In the last 40 years the average American workers wages and salary have increased 12%.

 

The average CEO salary has increased 940%. 

 

This is just complete bullshit. Do you feel the "average" american worker does enough in their standard job to have earned a 940% increase? Does the employee ringing up your groceries deserve a 940% raise? The guy who delivers your mail. Does he deserve or has he earned the right to a 940% increase in his salary?

So many people speak out against CEO's earning large bonuses and being paid millions of dollars who have very little to no clue at all what they contribute to their company. 

If you think you deserve more then go out and attempt to make more. So many people who cry foul are also the same people with little to no drive in wanting to make their lives better. The ambition they have is for other people to give them hands out as they believe they too should earn the same cut of the pie as the people they are working for. In other words there is a reason they are part of the 1% and it has nothing to do with them being handed millions of dollars.

Stop reading after the first sentence. It isn’t bullshit; it’s a fact. 

So much to address lol . I’ll just point out a couple things.

The middle class is being destroyed. FACT

Pensions & early retirement are going the way of the dodo bird. At my last job (not currrent) an old head worker aka guy employed or hired in the mid or early 1980s got productivity pay (aka profit sharing) Overtime after a certain time on the job. Full retirement / benefits for them & spouse

Other jobs similar stuff . Matching 401ks , pensions , etc…

My current job has cut my wages & changed the job duties in the middle of a pandemic. I hear from other friends this is happening all over. More work , less pay.

I blame the system, the politicians , the baby boomers etc…

Also everything is more expensive now VS the 1980s & 1990s

Homes, cars, insurance , phone , internet bills , utilities ,

jkd4200 -

Rich getting richer is a new phenomenon?

i smh at all you maga dorks thinking trump is one of you. 

If you couldn't make money with investments over the last 3 years, and especially in the last 6 months, then you're a fucking moron.

Tim Duncan -

I all for people working hard,  innovating etc to make money but what is happening isn't that imo. The government is picking who the winners and losers are.  If you are Amazon you are a winner,  if you own a small store not so much. 

The government picked Amazon.  Got it.

TheDecider -
Tim Duncan -

I all for people working hard,  innovating etc to make money but what is happening isn't that imo. The government is picking who the winners and losers are.  If you are Amazon you are a winner,  if you own a small store not so much. 

The government picked Amazon.  Got it.

The government absolutely picks large corporations over the working and small business. This isn't new news at all and been happening for decades. 

The stimulus they approved is just further proof of what anyone with half a brain already knew. 

We are an Oligarchy. 

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