WEALTH GAP IN AMERICA (Wealth Inequality)

[Someideasandstuff]

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I've provided some links above

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[Someideasandstuff]

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Due in part to Economies of Scale theory, capitalism will always lead to the concentration of wealth. This would occur even if you removed all corporations as well as the federal reserve. Progressive taxation, with substantial rates on the highest income earners, decreases this concentration

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[wentafew]

@lackofattack That's a very dim way of looking at the problem. You can always play the "it could be worse" game with ANY situation.

Molested children should be thankful for being molested because they could be chained to a bed post and beat within an inch of their life every day. Same logic.

[wentafew]

@skatepunkzero Your elegant theory says two things. 1 - If you're not rich you're lazy. 2 - Everyone can be rich.

Fantastic logic.

[wentafew]

@Someideasandstuff I think it would be worse. A government can lessen the concentration. America's government is doing a poor job at it.

[Someideasandstuff]

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To put some of this into context, here are the Gini indices(only income is measured) for the United States and the European Union:

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United States (2005): 46.9

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European Union (2005 average): 31

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This is a SUBSTANTIAL DIFFERENCE and demonstrates that there is much more inequality in the United States than in Europe.

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[ImEuanAndIGotsSkeelz]

and yet i bet you the bottom section are far far better off than the bottom or middle sections of other countries where the gap is small

[papalevi1959]

@ImEuanAndIGotsSkeelz This shows how little you know. Have you ever been outside the US

[ImEuanAndIGotsSkeelz]

@papalevi1959 well, i am european, live in europe and have been to many of the other countries in europe so yes.

[TheSAMathematician]

@Someideasandstuff Minimum wage laws will ruin America. They decrease standard of living, and decrease employment (in other words, they increase unemployment).

[Someideasandstuff]

@Ilikemustard First, you obviously did not fully comprehend the comment you replied to. Second, you stated that they DO NOT deserve to be sustained which tells me you have little understanding of Sociology. So what do some people do when they become desparate to get their needs met??? Some of them commit crimes. To keep someone in prison costs the taxpayers about $22,000 per year, per inmate. In other words, part of your premise is an example of CIRCULAR REASONING, aka, FAILED LOGIC.

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[olga2415]

@skatepunkzero Do you need any more reasons? There is not a level playing field out there, so stop sounding so smug.

[olga2415]

@skatepunkzero The fed. res. breaks up the small businessman by constantly dunning them for more than they are "declaring", claiming the figure submitted does not measure up to the mean figure reported by "others", banks are very selective about the social class they loan money to, banks do not acknowledge this bias. I had to borrow private money to go into business because It finally admitted, I struck out by three: female, single, self-employed. I owned a paid up home,car; not good enough.

[skatepunkzero]

@olga2415 Yes I believe in getting rid of the federal reserve. What most people(not you though) fail to understand is that passing more regulations/red tape and higher taxes doesn't hurt big business/corps it helps them and causes small business to fail.

[TheSAMathematician]

@skatepunkzero Regulation in finance is necessary. It is what keeps the value of the money stable. If the value of the money is unstable, all hell breaks loose.

Although i agree that regulation in the market for goods and services is bad. And taxes are bad. Those should be destroyed (down with obamacare).

[skatepunkzero]

@TheSAMathematician Yea but regulation Finance can only be created with less regulations in market and business. Sadly we don't have free market Capitalism in the USA we have a government run State Capitalism

[wentafew]

@skatepunkzero Ya, lets make Capitalism completely free. Then people can corner the market on goods and services and monopolize everything and charge us whatever they feel fit. Isn't free Capitalism awesome. This is especially beneficial when it is over necessities like food, water, power, health care, etc...

[skatepunkzero]

@Someideasandstuff of course we need employees, but if you want to get rich you need to start a business. Being employee will get you no where. If you want a good wage, get a good job. Minimum wage is just a starting point not something to work at all your life. Those who don't have work can't get help from Charities, its not the government job to give them work. Hell I went from living in a poor hispanic ghetto, to a good life by actually working and starting a small business. why don't youtry

[mlawren7]

GREAT VIDEO. Nothing lasts forever, and economically speaking this is very, very bad news. The fact is that if wealth were redistributed even a tiny percent, inflation would kill the economy. That's the situation we're in. We're locked into a position where the super-rich are 'too big to fail', and so the status quo will continue... until it doesn't. The best thing we could do is not just eat the rich, but burn all their cash as well.