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The United States of Income Inequality

Home Forums General Columbus Discussion Politics The United States of Income Inequality

Viewing 15 posts - 1,186 through 1,200 (of 1,212 total)
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  • #402472

    News
    Participant

    Inequality in America: The Data Is Sobering
    By EDUARDO PORTER
    Published: July 30, 2013

    The good news is that President Obama appears to have decided to devote the rest of his presidency to trying to tackle the forces behind the yawning inequities that have hamstrung social and economic mobility, eroding the living standards of the middle class.

    The bad news is that he may not be up to the task.

    READ MORE: http://www.nytimes.com/2013/07/31/business/economy/in-us-an-inequality-gap-of-sobering-breadth.html

    #402473

    News
    Participant

    Obama: Forces Conspiring Against Middle Class (VIDEO)
    By JOSH LEDERMAN 08/31/13 06:06 AM ET EDT

    WASHINGTON — President Barack Obama says it won’t be easy to reverse forces that for decades have conspired against working Americans. But he says with a few bold steps and common sense in Washington, the U.S. can make progress. Obama is reflecting on Labor Day in his weekly radio and Internet address. He says he’ll continue fighting for better wages, secure retirements, and expanded access to education, home ownership and health care.

    READ MORE: http://www.huffingtonpost.com/2013/08/31/obama-middle-class_n_3848366.html

    #402474

    News
    Participant

    THE EMERGING GEOGRAPHY OF INEQUALITY
    by Richard Morrill 09/04/2013

    Since the 1970s there has been a well-documented and persistent increase in income inequality in the United States. As the country slowly emerges out of a deep recession, it is instructive to seek out the geographic variation by states in the degree of inequality and the variation in both median and mean incomes.

    READ MORE: http://www.newgeography.com/content/003912-the-emerging-geography-inequality

    #402475

    News
    Participant

    INEQUALITY OF THE LARGEST U.S. METROPOLITAN AREAS
    by Richard Morrill 09/11/2013

    We earlier mapped inequality of the US states. Now I show the geography of inequality for metropolitan areas over 1,000,000. These measures of inequality are gini coefficients, calculated by the US Census Bureau for 2005-2009. These indicate how amazingly severe inequality, or the concentration of income and wealth at the top, has become. The gini is a measure of the departure of a curve of accumulated income, ranking from the poorest to the richest.

    READ MORE: http://www.newgeography.com/content/003921-inequality-largest-us-metropolitan-areas

    #402476

    News
    Participant

    Study Says America’s Income Gap Widest Since Great Depression
    by SCOTT NEUMAN
    September 10, 2013 5:39 PM

    The incomes of the very wealthiest 1 percent of Americans increased by 31.4 percent from 2009 to 2012. By contrast, the bottom 99 percent saw their earnings in the same period go up by just 0.4 percent. In 2012, the top 1 percent collected 19.3 percent of all household income and the top 10 percent took home a record 48.2 percent of total earnings, The Associated Press reports.

    READ MORE: http://www.npr.org/blogs/thetwo-way/2013/09/10/221124533/study-says-americas-income-gap-widest-since-great-depression?ft=1&f=1003

    #402477

    melikecheese
    Participant

    This article has a lot of charts showing the un-even recovery, interesting stuff.

    http://www.huffingtonpost.com/2013/09/13/uneven-financial-crisis-recovery-charts_n_3913882.html

    #402478
    Jeff Regensburger
    Jeff Regensburger
    Participant

    This Wall Street Journal blog post acknowledges income inequality is a problem.

    Richer Americans Like Living With Poorer People Until They Have Kids.[/url]

    I can only guess that either their site has been hacked or someone’s going to lose their job.

    In other news, the world remains round and decidedly not the center of the universe.

    #402479

    Pablo
    Participant

    Don’t know if this was posted earlier…

    #402480

    Schoolboy
    Participant

    Again, I hate posting on issues like this, because I seem to be on an island all by myself.

    Fact. Most middle class jobs as few as 20 years ago were created through American industry or directly tied to it. Still are.

    Fact. The government continually makes it easier for this industry to leave the US and then import the goods back into the country, often times tarif free, from a different country with a population willing to work for a fraction of our normal wages.

    Fact. Much of the wealth being generated is directly tied to these changes in our government. I know the media loves to concentrate on the stories like Facebook, etc… I get it. Those are wonderfull stories, but they only make up a small percentage of the growing wealth gap.

    To put it simply, eliminate NAFTA and Obama’s newly signed SAFTA and you will see immediate results. Yes, some of that workforce will simply move to China. This is true. However, if just half of the workforce/jobs that has left this country due to NAFTA and SAFTA would return, the middle class in this country should return to its glory days.

    For some reason people think that taxes alone will fix the gap. Not at all true. Tax all you want. It won’t bring the jobs back. Yes, the govt might create some sponsored jobs here and there with the new tax money, but really all that tax money will do is simply go towards the current cost of govt.

    #402481
    rus
    rus
    Participant

    http://www.washingtonpost.com/blogs/the-switch/wp/2013/10/21/no-technology-isnt-going-to-destroy-the-middle-class/

    Is technology killing the middle class? The George Mason University economist and well-known blogger Tyler Cowen thinks so. In his new book, “Average Is Over: Powering America Beyond the Age of the Great Stagnation,” Cowen predicts a world in which 10 to 15 percent of the population are skilled at working with the smart machines of the future. He believes they will become extremely wealthy, while everyone else will face stagnant or falling wages.

    To many people, such a gap between a meritocratic elite and most workers would be deeply unsettling. Some see extreme inequality undermining democracy; others think it would create economic crises and undermine economic growth.

    But is the bleak world depicted by “Average Is Over” really around the corner? There are good reasons to be skeptical. People have been predicting that technology will kill the middle class since Karl Marx. They have generally been wrong. True, middle class wages do stagnate sometimes, as has been the case for the last couple of decades. But over the long run, technology has made large numbers of ordinary workers relatively wealthy. Thanks to technology, the average wage in the United States today is over 10 times what it was 200 years ago, after adjusting for changes in the cost of living. Given the poor track record of these past predictions, there are strong reasons to be skeptical about Cowen’s forecast.

    #402482

    gramarye
    Participant

    jeff_r said:
    This Wall Street Journal blog post acknowledges income inequality is a problem.

    Richer Americans Like Living With Poorer People Until They Have Kids.[/url]

    I can only guess that either their site has been hacked or someone’s going to lose their job.

    In other news, the world remains round and decidedly not the center of the universe.

    The WSJ doesn’t explore the exclusionary-zoning-based reasons why parents who want to be in those school districts need to move out to those districts in the first place, of course.

    Of course, I’m betting that as charter, magnet, and voucher schools expand, there will be more options for successful, motivated parents to send their children to schools with rigorous curricula without having to leave the more diverse and culturally rich environments of their urban neighborhoods. (Then again, Walker has posted several articles in the past few days about how the suburbs are becoming more urbanized and diverse as well, so it’s also possible that we’ll see people continue to move out to the suburbs, but that movement may not have the same character 30 years from now as it did 30 years ago.)

    #402483

    myliftkk
    Participant

    rus said:
    http://www.washingtonpost.com/blogs/the-switch/wp/2013/10/21/no-technology-isnt-going-to-destroy-the-middle-class/

    Is technology killing the middle class? The George Mason University economist and well-known blogger Tyler Cowen thinks so. In his new book, “Average Is Over: Powering America Beyond the Age of the Great Stagnation,” Cowen predicts a world in which 10 to 15 percent of the population are skilled at working with the smart machines of the future. He believes they will become extremely wealthy, while everyone else will face stagnant or falling wages.

    To many people, such a gap between a meritocratic elite and most workers would be deeply unsettling. Some see extreme inequality undermining democracy; others think it would create economic crises and undermine economic growth.

    But is the bleak world depicted by “Average Is Over” really around the corner? There are good reasons to be skeptical. People have been predicting that technology will kill the middle class since Karl Marx. They have generally been wrong. True, middle class wages do stagnate sometimes, as has been the case for the last couple of decades. But over the long run, technology has made large numbers of ordinary workers relatively wealthy. Thanks to technology, the average wage in the United States today is over 10 times what it was 200 years ago, after adjusting for changes in the cost of living. Given the poor track record of these past predictions, there are strong reasons to be skeptical about Cowen’s forecast.

    Way overstated doom statement.

    The problem is when the entire gains of technology, i.e. profits, flow only to the people at the top of the pyramid, and then they simply hoard those profits. So now fewer people are working, and less income is spent on consumption therefore encouraging the development of new businesses. That is however, not a technology problem, that a progression taxation or consumption disincentive issue.

    #402484

    revolutionist
    Participant

    http://www.cnn.com/2013/10/29/opinion/sutter-lake-providence-income-inequality/index.html?hpt=hp_t1

    The above link is to a rather extensive article on CNN.com entitled “The Most Unequal Place in America”, centering on Lake Providence, Louisiana. Saw it and thought of this thread.

    #402485

    sirlancelot
    Participant

    There may be wide income disparity, but what matters is quality of life for the average individual. Does the average person have adequate shelter, food, medical care and clothing, and how do we define this? Consider that Les Wexner’s quality of life is far above average but I hardly care as long as I have a decent job that allows me food, clothing, decent shlter and access to good medical care. What we should worry about is what happens if large numbers of people suddenly lack these necessities and no longer believe they are attainable. The result is a social explosion that can bring down governments and equally destroy rich and poor alike. Efforts to alleviate wide income disparity and social inequality result in economic and political security for the upper class as much as it does for the rest of us. This has long been understood in Britain, for example, where the aristocracy gave up no small amount of power and income in exchange for their security. Republicans and tea partiers should understand this.

    #402486

    joev
    Participant

    sirlancelot said:
    There may be wide income disparity, but what matters is quality of life for the average individual. Does the average person have adequate shelter, food, medical care and clothing, and how do we define this? Consider that Les Wexner’s quality of life is far above average but I hardly care as long as I have a decent job that allows me food, clothing, decent shlter and access to good medical care. What we should worry about is what happens if large numbers of people suddenly lack these necessities and no longer believe they are attainable. The result is a social explosion that can bring down governments and equally destroy rich and poor alike. Efforts to alleviate wide income disparity and social inequality result in economic and political security for the upper class as much as it does for the rest of us. This has long been understood in Britain, for example, where the aristocracy gave up no small amount of power and income in exchange for their security. Republicans and tea partiers should understand this.

    What really matters is the quality of life of the poorest people.

Viewing 15 posts - 1,186 through 1,200 (of 1,212 total)

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