American wealth distribution - is this a problem

[FreakMonster]

Median household income is $41000 per yaer. 50% of Americans earn under $26,000 per year.

Median is the center of the distribution, so 50% are both above and below that point. One of your two statements must be incorrect, they contradict each other. I suspect the $41K figure is the Average HH Income.

 

[WODIN]

The real bottom line I think not being expressed is this.

The middle class is getting smaller and smaller by the day and throughout history whenever a society does not have a large middle class in place the society crumbles and dies.

 

[GinNJuice]

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

i doubt it. Welfare is ingrained in the american system. I'll bet that your college was paid for 2/3 by the state. I assume you got an in-state engineering degree.

LOL, you just lost your bet.

I went to a private university...... and paid/paying for it myself (still owe quite a bit on my student loan)

 

[RTDurden]

Thread starter,
I teach economics, really interested in continuing the discussion started here in class. Can you post the source for your statistics?

 

[MattTheSkywalker]

Thread starter,
I teach economics, really interested in continuing the discussion started here in class. Can you post the source for your statistics?

Last week's NY Times magazine, article by Paul Krugman. the article is a little bit left-leaning, but numbers speak for themselevs.

 

[MattTheSkywalker]

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

Take your communistic mindset and shove it.
Total Commie/Socialist bullshit.

Someone somewhere had to work their royal asses off to get the money they have. You don't get rich by sitting around.

I'm just throwing up facts, not taking sides. Look how assed-off you get.

I have employees in the top 10%, and some on the lower side. I see first hand how people are living their lives. Do you have any employees?

For every person that "gets ahead", a ton are left behind, because there are only so many dollars available. This has real consequences.

If you think all poor people have too many kids and don't work hard enough, take drugs and crave handouts, you are just being silly...or ignorant.

 

[Steroid_Virgin]

Wait, it's not fair that some people are born with a greater apptitude to succeed??? That should not be the way it is!! Lets give all really smart people lobotomies because its not fair for some one to be smarter...

Man cannot create for force equality Matt.. every attempt at this has failed... Capitalism has created the most economically efficient system known to man... It may not be the most socially conscious system.. but even you have said yourself on many occasions, that MONEY do makes the world go round..

There is not formula for maximization of human happiness, but there does seem to be one for economic well being.. you might as well maximize what you can..

 

[vixenbabe]

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

I have employees in the top 10%, and some on the lower side. I see first hand how people are living their lives.

How many are living pay check to pay check each week?

 

[MattTheSkywalker]

Wait, it's not fair that some people are born with a greater apptitude to succeed??? That should not be the way it is!! Lets give all really smart people lobotomies because its not fair for some one to be smarter...

Man cannot create for force equality Matt.. every attempt at this has failed... Capitalism has created the most economically efficient system known to man... It may not be the most socially conscious system.. but even you have said yourself on many occasions, that MONEY do makes the world go round..

There is not formula for maximization of human happiness, but there does seem to be one for economic well being.. you might as well maximize what you can..

This post is not NOT NOT NOT NOT NOT NOT about forcing equality or happiness. equality is not forcible and experiemtns to do so have failde miserably.

The thread is about the social consequences of putting a lot of money in a few hands. Specifically, how does our country benefit from having so many people on the lower end, and where is this heading. In the 1920's, we know where it headed.

where is it headed this time?

 

[Steroid_Virgin]

Also,

Financial wealth does not lead to a better life or happiness.. Or more importantly an ability to effect the future with your genes (that is if you want to get real nitty gritty about the effect of wealth on the purpose of life).. You can live your entire life in poverty and still have more kids than a millionare..

So, lets start by defining what makes one persons life better than anothers.. Obviously you think money is the most important thing, or else you would not be disparaged by the income diviations created by capitalism.. Im sure some of which is caused by guilt... But dont start looking down your nose just yet, lets get a clear definintion of what makes ones life better... I think thats the real discussion here..