Wealth Inequality in America



Wealth inequality happens to be everywhere in the world and particularly in developing economies.
 
Sorry to be that guy, but after the 3rd or 4th time seeing this video on WF.....

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May the red bricks fall upon you gently...

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I've never seen this video. However, one minute in, and I can't continue watching it.

The idea that people deserve anything just because someone else has it is something I can't get behind.
 
I've never seen this video. However, one minute in, and I can't continue watching it.

The idea that people deserve anything just because someone else has it is something I can't get behind.

That's true. But think about it, most people have some sort of contribution that is considered vital to the society. Nurses, people serving the country (law enforcement, military, etc.), construction workers, engineers, farmers, etc. All of these people work their asses off every day of the week only to just scrape by their mortgages, college fees, medical bills, transport, food and others. I wouldn't consider the work these people do fall under the category of mere existence.
 
a lot of people have a good life living in the top 99% of the lower 99%
 
The videos not even real, there is no wealth inequality problem in America just spoiled consumers wanting to consume more.
 
[ame=http://www.youtube.com/watch?v=KENaWXPmBr0&feature=share&list=PL2D4D0F53C66BB510]eEconomics - SPECIAL - Tax Inequality in America - YouTube[/ame]

Just going to leave this here.. a response to that video I shared a while back when the original came up.
 
I have heard people say this before.

Why do you think this would happen ?

Because people are different. Some people will spend more than they make, while others will spend less. Eventually it will end the same as it is now.


It is funny this is mentioned, because here in Costa Rica, there was a living example of this.

Back in the middle/early part of the 20th century, there was a lot of unused land in a place called Guanacaste. To help develop it, the gov gave out equal portions of land to different families so they could work the land/raise cattle and help develop the economy of that area.

A few decades latter and guess what happened? Slowly but surely, the estates consolidated. Some people worked hard, others drank hard. The ones that worked hard slowly bought up everything from the vast majority that didn't.

Now that is not to say that inequality isn't a problem. It is. Wealth consolidation eventually leads to rigid class systems that stifle innovation and development. A huge reason the USA managed to surge as a nation was because it offered a fluid class system and it was competing with countries with rigid class systems (of course there were other reasons; vast-untapped natural resources, a large amount of arable land aquired for pennies on the dollar via bloodshed, a culture of hard work, good climate, wars/political issues in Europe, etc)

Now, just because I mentioned inequality as being a problem doesn't mean I know a solution to it. I don't.
 
Things like the internet make it easy for people with money to make more money via conducting more business, faster.

Are you really going to slow yourself down in the construction of your empire just because there are a lot of other people who aren't as successful as you are?
 
Because people are different. Some people will spend more than they make, while others will spend less. Eventually it will end the same as it is now.


It is funny this is mentioned, because here in Costa Rica, there was a living example of this.

Back in the middle/early part of the 20th century, there was a lot of unused land in a place called Guanacaste. To help develop it, the gov gave out equal portions of land to different families so they could work the land/raise cattle and help develop the economy of that area.

A few decades latter and guess what happened? Slowly but surely, the estates consolidated. Some people worked hard, others drank hard. The ones that worked hard slowly bought up everything from the vast majority that didn't.

Now that is not to say that inequality isn't a problem. It is. Wealth consolidation eventually leads to rigid class systems that stifle innovation and development. A huge reason the USA managed to surge as a nation was because it offered a fluid class system and it was competing with countries with rigid class systems (of course there were other reasons; vast-untapped natural resources, a large amount of arable land aquired for pennies on the dollar via bloodshed, a culture of hard work, good climate, wars/political issues in Europe, etc)

Now, just because I mentioned inequality as being a problem doesn't mean I know a solution to it. I don't.

Interesting. I guess I have always interpreted that line meaning the same people would eventually get most of the money back.
 
I would say that most people are morons, but I know that if I won the lottery there is no chance in hell that I would revert back to where I am now, and don't know anyone that would.

Look at the statistics of lottery winners going broke and pro athletes as well.