Wealth distribution in the US

[DGuller]

Let's go back a couple of steps.  Share of wealth graph can be misleading.  We need to look at the growth rates of wealth of each quintile over many years, including years before the obvious shift started.  On which end do you actually have a shift?  Is it the reach accumulating the wealth at ever-increasing rates, the poor accumulating the wealth at decreasing rates (or even negative rates), or a combination of both?

Those are all very good questions.

But they are questions that go to addressing what is happening and why.

What I find amazing is that apparently there are people who look at the outcome and say "Yeah, that is cool."

I don't even think the people who are that 1% look at this result and think "Yep, that is how it should be..."

You need to know why something happened before you can come up with good fixes.

[garbon]

Aren't there a hell of a lot of small businesses? Is the idea then that they are all going under?

Small businesses are not exactly a highway to riches.  Most of the time it's a life of subsistence.

So is the notion that we should all have riches?

[alfred russel]

The American economy seemed to function in the 50-60s, even with a high tax rate.

I don't think historic tax rates are necessarily comparable to tax rates today. For example, all personal interest used to be deductible. If I got that deduction today, I could likely reduce my tax burden, even if facing significantly higher tax rates.

What is probably a better judge of taxation levels is the percentage of tax / GDP, and the corresponding percentages of tax paid / income for each segment of the population.

[CountDeMoney]

What I find amazing is that apparently there are people who look at the outcome and say "Yeah, that is cool."

I don't even think the people who are that 1% look at this result and think "Yep, that is how it should be..."

Sure they are.  The system is working precisely as it should.

[Berkut]

What I find amazing is that apparently there are people who look at the outcome and say "Yeah, that is cool."

I don't even think the people who are that 1% look at this result and think "Yep, that is how it should be..."

Sure they are.  The system is working precisely as it should.

Do you even realize that your attitude is as much a part of the problem as Otto's?

[CountDeMoney]

Do you even realize that your attitude is as much a part of the problem as Otto's?

Just because I acknowledge it doesn't mean I endorse it like Otto does.

[DGuller]

Aren't there a hell of a lot of small businesses? Is the idea then that they are all going under?

Small businesses are not exactly a highway to riches.  Most of the time it's a life of subsistence.

So is the notion that we should all have riches?

No.

[Jacob]

Came across this the other day. Seems somewhat relevant to the discussion:

[alfred russel]

The answer seems to be a combination of fracking and mormonism. 

[Valmy]

Man.  Bad to be poor in the South.

[CountDeMoney]

Man.  Bad to be poor in the South.

States and regions that care about the appropriate funding their public school systems do better than those that don't.  Imagine that.

[DGuller]

Deep South is in Deep Shit.  Again.  Is there any human development category it actually isn't deep red on?

[garbon]

Man.  Bad to be poor in the South.

States and regions that care about the appropriate funding their public school systems do better than those that don't.  Imagine that.

Ugh look at those abortions that are Indiana and Ohio.

[Barrister]

Came across this the other day. Seems somewhat relevant to the discussion:

So apparently the easy way to guarantee upward mobility is to live on top of shale oil deposits.

[CountDeMoney]

Man.  Bad to be poor in the South.

States and regions that care about the appropriate funding their public school systems do better than those that don't.  Imagine that.

Ugh look at those abortions that are Indiana and Ohio.

Faded rustbelt areas like metro Ohio and Michigan and that whacky progressive state known as Indiana stopped caring about their school systems years ago.