Another dodge. I don’t want to digress the thread any further, but I fully understand the answer to my question is yes, even if you won’t answer it. And irony alert - for a person who thinks political correctness is bad, you sure are awfully skittish to say what you think.
There’s really nothing to be amazed about. Wolff is talking about Net Worth mostly during a specific period:
Something kinda big occurred in 2007…
What is Net Worth:
Wolff’s measure:
He’s also excluding future social security benefits and the value of retirement benefits from private pension plans.
Without reading his paper fully, I bet the key difference between the %'s is their level of debt or their debt to income ratio. This should not surprise anyone. How many people with a household income of $100K+ also have a $350K+ mortgage. A lot is my guess. 33% of American’s don’t save for retirement. http://time.com/money/4258451/retirement-savings-survey/ How do you expect to build wealth without saving for retirement?
What is your solution to this “problem” if it’s not forcibly redistributing wealth?
Food for thought
When Obama named checked jobs he saved in Caterpillar, Republicans rightly tore him open. The irony is that places like Vox are now saying this type of corporatism is bad for the economy.
Jesus, it is like these hacks are playing Red rover, waiting to swap sides at a moment’s notice.
Corporatism is just as bad when it comes from an elephant as a donkey.
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Vox is a fake news site.
Yup, agreed…
Sort of explains kissing Mitch’s ass appointing Chao tho.
So here we have a president elect negotiating with one company and getting results through a combination of what one writer called “bribery and menace”. And something along the lines of 1300 employees are still losing their jobs to Mexico.
It’s corporatism at its finest. And so-called conservatives who once preened like lions while railing against corporatism are now prostrate like lambs.
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I really don’t know why you guys are so shocked that the tribalists have totally just switched sides now that the “other party” is in the “other position.”
I mean, we all knew this would happen, lol. And honestly, it the best part, IMO.
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You’ll hear no arguments from me on that front.
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Kinda like Breitbart
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Aren’t you the guy who thought Texas was in play this election?
Here is a 100 year study through 2012, since you think that study is dependent on 2007 recession.
I guess if you are not willing to accept the raw numbers of wealth concentrated in upper quintile, then there is no need to discuss either the political reasons, societal ramifications, or possible solutions. We could give a look at history, and see what happens when a few own everything - and how a populace acts when desperate.
Are you taking my numerous jokes about “Texas as a swing state” as literal?
I did discuss some polls where it got down to 4 or 6 percent iirc (finished at ~9%), but it was never “in play”.
Edit: Anybody who was objective reading the polls knew Trump was down. His own team acknowledged as much. I’m not sure how that plays into any of the discussion at hand regarding aptitude testing (where you are clearly peddling nonsense yet again) or how Breitbart is a flame-fanning alt-right “news” site. Don’t get me wrong, there are plenty of sites (I believe vox can fit into that category) that are just as full of BS on the left.
I didn’t say it was dependent on the recession. I said the author was focused on the recession in the paper you posted.
I don’t need to click on the 100 year study to know net worth, wealth, etc… has become more unequal over the last 100 (not over all of human history, though).
There are numerous reasons for this. The most obvious being production has increased due to technology not increases in worker productivity. Who should get the benefit from this, the worker that did nothing or the owner that invested in technological advances / improvements?
Huh? I didn’t even remotely insinuate this isn’t the case.
The biggest problem I see is that people are not willing to accept that the US economy of the early 20th and the US economy of the 21st century are vastly different. Trying to compare the two is nearly impossible.
Edit:
Why is income inequality a problem in your opinion?
What is your solution?
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Considering the poor neighborhoods I drive through every day have big screen TV’s, window AC units and $3k rims on their cars, who stand and play on their smart phones connected ot the internet while waiting for the school bus…
I’m not sure “desperate” is anywhere near the level we’re at.
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Come on Beans, it’s just not fair.