The 'Real' Social/Economic Cost of America's Wealth Inequality

Avatar for songwright
iVillage Member
Registered: 06-28-1997
The 'Real' Social/Economic Cost of America's Wealth Inequality
53
Tue, 10-11-2011 - 3:54pm

Here's a simple little exercise in numbers.

~ SW

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iVillage Member
Registered: 10-25-2006

I agree.

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

iVillage Member
Registered: 07-09-2011

"total Earned income was added to the incomes of the Bottom 50%, their total earnings would increase from $1.4Trillion to $3.2Trillion, which is a 128% increase."

I always love these numbers games. Let me ask you, have you heard of supply and demand before? When you get done redistributing the wealth as you've outlined. you realized you've moved relative poverty in the US to people making $40,000 a year right? Why would people spend money and 4 years of their lives to get a good job when they'll still only make the same as a high school dropout next door with your redistribution? And getting back to supply and demand and relative poverty... You do understand with the redistribution you've outlined, the cost of most goods would go up enough to offset the 'added' money you've confiscated right? Meaning in the end you'vedone them no good, well, that's not quite true. You see, when you punish success to reward failure what you do is chase enterprise away. Confiscating more money from the producers reduces their return meaning they will invest somwhere else. We've already seen plenty of that, why some seem to think chasing more business out of the US and increasing our unemployment will somehow help balance income 'inequality' is beyond me, but perhaps someone could explain it to me sometime.

iVillage Member
Registered: 07-09-2011

Oops, almost forgot:

iVillage Member
Registered: 07-09-2011

"Nobel Laureate Joseph Stiglitz points out the richest 1% of Americans now own 40% of the nation's wealth."

Yip, that's America. Funny that you should complain since in

Avatar for songwright
iVillage Member
Registered: 06-28-1997

LOL -- you seem to be missing the point. The 'redistribution' of wealth is exactly what I'm trying to reverse.

~ SW

iVillage Member
Registered: 10-25-2006

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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php

http://www.youtube.com/watch?v=DQTBYQlQ7yM

Avatar for xxxs
Community Leader
Registered: 01-25-2010

All the stats do is lie.

dragowoman

iVillage Member
Registered: 03-02-2009

If the Top 1% Earners made the same percentage (9%)

"Resist, we much. We must, and we much. About that, be committed."

Avatar for songwright
iVillage Member
Registered: 06-28-1997

Problem here is if they didn't earn that $1.8 trillion more than they earned in 1976, then it doesn't exist. You can't just give it to the bottom 50%, there would be nothing to hand to them.

Wrong.

~ SW

iVillage Member
Registered: 03-02-2009

Problem here is if they didn't earn that $1.8 trillion more than they earned in 1976, then it doesn't exist. You can't just give it to the bottom 50%, there would be nothing to hand to them.

Wrong.

"Resist, we much. We must, and we much. About that, be committed."

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