American wealth distribution - is this a problem

[MattTheSkywalker]

I wonder what part education plays in terms of money distribution? What percentage of inner city or rural kids in bad schools move up the socio-economic ladder? and what percentage of kids in good schools move down?

I think one cause of the growing lower class is the lack of manufacturing jobs that have all gone to the 3rd world. Those people that once worked those jobs probably had to take a pay cut and work somewhere else.

But I think the answer lies in education.

Actually, the odds are overwhelming that you will end up exactly in the same status as you were born into.

The salaries of huigher educated peopel generally trend upward, but overwhelmingly, advanced education (cpast HS) moves you higher in the middle class only.

Grad degree holders typically populate the 70-80th percentile. Higher, but nowhere near wealthy.

Education plays next to ZERO role among the top 1% and above.

 

[Doktor Bollix]

I think one cause of the growing lower class is the lack of manufacturing jobs that have all gone to the 3rd world. Those people that once worked those jobs probably had to take a pay cut and work somewhere else.

True. That's globalization, if there's someone in the world who can do your job cheaper, in the future your job will go to them. That's why tens of thousands of German car workers have lost their jobs to non-union auto-workers making $16 per hour down south. We are the cheap labor now.

But as long as Americans can rely on their smug snobbery and think they can bullshit themselves rich regardless of how many people fall by the wayside, it's all good I suppose.

 

[GinNJuice]

Re: Re: Re: Re: Re: Re: Re: American wealth distribution - is this a problem

yes, I am ignoring your awesome line of thinking.

Actually, I was refering to my two previous posts that were in direct reply to your qustion:

You didn't smoke crack. You want to better yourself.

Are you in the top 1%? If not, why?

Funny, you use a condescending tone when refering to my "awesome line of thinking" when I simply gave you a real world, first-person example. It seems to me that you'll reject any opinion that doesn't agree with yours.

 

[VicTusDeuS]

Education plays next to ZERO role among the top 1% and above.

Sam Walton had no college education..Would be the richest man alive if he was still around.

 

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Props to Matt for giving us a cool thread to bitch over!

 

[Fonz]

80K is not really that much.

Matt, sometimes you crack me up.........LOL

Fonz

 

[MattTheSkywalker]

Matt, sometimes you crack me up.........LOL

Fonz

Fonz,

Context, conetxt.

When you think of the richest 10% of the USA, it tends to conjure higher numbers, no?

The real dollars are so tied up at the very high end that - compared to them - 80K seems insiginficant.

 

[Fonz]

Fonz,

Context, conetxt.

When you think of the richest 10% of the USA, it tends to conjure higher numbers, no?

The real dollars are so tied up at the very high end that - compared to them - 80K seems insiginficant.

.

Like someone else said, I think it really does come down to education.

My family is probably in the Top 5% in Spain.

Out of my cousins that are my age or more(24).

Every single one of them has a Bachelors and a masters.

Some of them even have doctorates.

Sucks being me, as the pressure to succeed is HIGH to say the least.

Failure is not a word my family understands.

Anyways, back to the topic at hand:

The USA is just so different from other countries that its hard to
quantify. There's no simple rule of thumb you can follow.

Fonz

 

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The USA is just so different from other countries that its hard to
quantify. There's no simple rule of thumb you can follow.

Fonz

Well, the thread title is rather specific in it's geography, that being America.

There certainly is no rule of thumb to use. And if Matt is using Household income then yeah, 80k isn't that much.

Single income household earnings of 80k indicate education or very very specific skillsets in the blue collar industry and/or dangerous work, like underwater welding.

 

[MattTheSkywalker]

Well, the thread title is rather specific in it's geography, that being America.

There certainly is no rule of thumb to use. And if Matt is using Household income then yeah, 80k isn't that much.

Single income household earnings of 80k indicate education or very very specific skillsets in the blue collar industry and/or dangerous work, like underwater welding.

Median household income is $41K. 80K is therefore a lot for a household. Perhaps sometimes we forget how lucky we are to have the opportunities we have had.