State of the Union: A Viral Video

[DbPhoenix 42]

Viral Video Shows the Extent of U.S. Wealth Inequality

 

http://mashable.com/2013/03/02/wealth-inequality/

[Perrin 10]

The US needs to be more equal to get out of the recession, I imagine

[MightyMouse 12]

There is nothing fair about life in the US. On the other hand, anyone can position themselves to be in the top 1%. You have to want badly to be there.

 

Not shown in the video is how little it takes to be in top 1% of income earners. It's about $380k or so.

[bj139 10]

Is this $380K, income or wealth? I assume income, so what is the wealth line?

 

The problem with our economy is the top wealth holders are playing it like a game of monopoly where 1 player owns all the wealth at the end. This is only sustainable if most of the players starve at the end. The government should provide a fair and level playing field so most of the people have an opportunity to work and survive. Sadly, crony capitalism today is much like Britain of the David Copperfield era. The king gave special tax credits to his favored subjects while many other people starved.

 

Henry Ford paid his workers twice the prevailing wage. This obviously cost Henry some wealth. He was not playing a game of monopoly but a game of compassion. His workers were partners in the game he was playing, not human resources to use up and throw away.

[DbPhoenix 42]

Depends on how you define "problem". Plutocrats have no problem with a two-class system: the privileged class and the slave class (or worker class or whatever). This is how the world operated for millennia, until the beginnings of the rise of the middle class after the Black Death.

 

Why should the wealthy care about provisions for the poor or the handicapped or the elderly? Why should they care about clean air or water? Why should they care about climate change? None of it will affect them before they die, so . . .

[Perrin 10]

There is nothing fair about life in the US. On the other hand, anyone can position themselves to be in the top 1%. You have to want badly to be there.

 

Anyone?

[Perrin 10]

Is this $380K, income or wealth? I assume income, so what is the wealth line?

 

The problem with our economy is the top wealth holders are playing it like a game of monopoly where 1 player owns all the wealth at the end. This is only sustainable if most of the players starve at the end. The government should provide a fair and level playing field so most of the people have an opportunity to work and survive. Sadly, crony capitalism today is much like Britain of the David Copperfield era. The king gave special tax credits to his favored subjects while many other people starved.

 

Henry Ford paid his workers twice the prevailing wage. This obviously cost Henry some wealth. He was not playing a game of monopoly but a game of compassion. His workers were partners in the game he was playing, not human resources to use up and throw away.

 

Henry Ford was an incredible man, his plain common sense approach is an example to everyone.

[MightyMouse 12]

There is nothing fair about life in the US. On the other hand, anyone can position themselves to be in the top 1%. You have to want badly to be there.

 

Anyone?

 

In the US? Yes.Anyone who wants to. Elsewhere? Not everywhere even if someone wants to. Not saying it is easy or fun.

[SIUYA 11]

You could be in China.....

 

Billionaires galore in People's Congress

 

I also stumbled on this - a book review about similarly related topics of capitalism etc;

If anyone is interested they might want to read the book.

 

http://www.newstatesman.com/books/2013/02/reviewed-locust-and-bee-predators-and-creators-capitalisms-future-geoff-mulgan

Edited March 8, 2013 by SIUYA

[edgararakelyan 10]

Obviously there is going to be more success then there will be failures. If you strive to be the 1% or even the .1% you can achieve it or get close. Bunch of socialist crap.

[bj139 10]

What do you think of the average person's chance of achieving the 1%. Since there are people born in the 1% it must be much less than 1%. Just wanting it is not enough.

 

"It's not what you know it's who you know". Crony capitalism: bigger and better than ever.