The Ever Widening Wealth Gap - Mercedes-Benz Forum
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post #1 of 26 (permalink) Old 06-17-2019, 03:57 PM Thread Starter
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The Ever Widening Wealth Gap

Adding to the mountain of statistical evidence showing the severity of U.S. inequality, an analysis published Friday found that the top one percent of Americans gained $21 trillion in wealth since 1989 while the bottom 50 percent lost $900 billion.

Matt Bruenig, founder of the left-wing think tank People’s Policy Project, broke down the Federal Reserve’s newly released “Distributive Financial Accounts” data series and found that, overall, “the top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing, meaning they have more debts than they have assets.”

The growth of wealth inequality over the past 30 years, Bruenig found, is “eye-popping.”

“Between 1989 and 2018, the top one percent increased its total net worth by $21 trillion,” Bruenig wrote. “The bottom 50 percent actually saw its net worth decrease by $900 billion over the same period.”



“Enormous crisis,” Rep. Pramila Jayapal (D-Wash.) tweeted in response to Bruenig’s analysis.

“We have the worst inequality in this country since the 1920s,” wrote Jayapal, co-chair of the Congressional Progressive Caucus. “Three wealthiest people in America have as much wealth as the bottom 50
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post #2 of 26 (permalink) Old 06-17-2019, 04:05 PM
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Trump will fix that, I have full faith in him, how about you?
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post #3 of 26 (permalink) Old 06-17-2019, 04:28 PM
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except in the case of dictators, etc.,

i see little connection with the amount of inequality

between the super rich and the bottom wealth tiers.

that said i'm all for education and programs to rebuild the middle class

and improve opportunities

but human labor continually loses value in relation to specialized skills
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post #4 of 26 (permalink) Old 06-17-2019, 04:49 PM
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The top 1% pay about 40% of the federal tax bill, the bottom 50% pay less than 3%...……the Lib answer is to tax the wealthy. Think about that "solution" Education( meaningful market skills based, not Art History and Gender studies degrees) along with hard work will provide economic success and upward mobility

Historically we've always had "wealth inequality". Blaming Trump is akin to blaming Trump for war. Sophist reasoning at it's finest, sad.
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post #5 of 26 (permalink) Old 06-17-2019, 08:33 PM Thread Starter
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The answer is to tax gently the 0.1% of entities so that money comes in to help the disadvantaged. If u bitch slap the Uber rich entities they just run off to some desperate tax haven with their funds. The usual thing that happens is the Uber rich buy any politician they need and the middle class gets fucked.
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post #6 of 26 (permalink) Old 06-18-2019, 06:33 AM
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post #7 of 26 (permalink) Old 06-18-2019, 10:27 AM
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It's all about percentages.

When peoples' raises are done in percentages, the gap inexorably widens.

What about Ford, GM, Microsoft, Amazon, you name them give their bottom rung workers, say, a $5 per hour raise this year, and apply a sliding scale DOWN to zero right up to the fat cats at the top? Do that year on year and balance will begin to be redressed. But it'll still take 100 years...

"Semper In excretio, solum profundum variat" - unknown
They called me mad, and I called them mad, and damn them, they outvoted me" - Nathaniel Lee
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post #8 of 26 (permalink) Old 06-18-2019, 10:33 AM
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I'm confused on how the thread permutated to illegals......FYI: getting a SS number is perfunctory. Call your state's welfare office and prepared to be shocked at the ease of obtaining a SS number. I think I could get one for my dog.

If wages are unfair, quit and start your own business. Invest your time and capital and make all the employees wealthy. Let me know how that plan works. The call for a $15 minimum wage seems somewhat reasonable except that may cause a net loss of jobs due to automation and competition in the world market. If $15 is good, why not advocate for $50???

BLS: "The percentage of hourly paid workers earning the prevailing federal minimum wage or less declined from 3.9 percent in 2014 to 3.3 percent in 2015." Half of that 3.3% are under age 25. It's even lower in 2018/19!!!

Education, valid marketable work skills and a work ethic allow economic quantile migration.

Stop blaming and denigrating success of the 1%. Statistically, the vast majority of the 1% are self made.

This is a rather ironic debate, on a Mercedes Benz forum.
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post #9 of 26 (permalink) Old 06-18-2019, 10:58 AM
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Originally Posted by Mike p View Post
I'm confused on how the thread.... bla blah bla....
....
This is a rather ironic debate, on a Mercedes Benz forum.
Do you, your highness, think that mere mortals shouldn't be in here? Maybe, unlike you, I get my Benzes from the junkyard or Craigslist.
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post #10 of 26 (permalink) Old 06-18-2019, 06:03 PM
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DP:

Despite your assumptions, I consider ALL of us "mere mortals". I find the actual MB based forum interesting and quite informative---------the forum members have an amazing knowledge base. I've received help several times and I'm grateful.

My first postings on the "off-topic" section were an attempt at rational discourse, my mistake...…...ad hominem attacks were not expected. Very disappointing in the myopic viewpoints...……..why do libs hate diversity of thoughts???

I must drive my daily driver......a 240D, to impress the mere mortals??? I also shop at Walmart......sorry to burst your bubble
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