A compilation of articles and videos regarding income inequality in the United States

jack_christie

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World’s biggest hedge fund sounds the alarm on capitalism’s dangerous and unsustainable path

The biggest driving factor behind soaring profits, Bridgewater reports, is the decline in the share of profit that workers receive.

The decline in unionization among US workers, and to a lesser extent the advance of technology and outsourcing of jobs, are driving worker wages down.
https://www.rawstory.com/2019/04/worlds-biggest-hedge-fund-sounds-alarm-capitalisms-dangerous-unsustainable-path/


https://www.businessinsider.com/bridgewater-reports-on-falling-labor-wages-increased-profit-margins-2019-4


https://www.bridgewater.com/research-library/daily-observations/peak-profit-margins-a-global-perspective/
 

LeVeL

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What a monumentally idiotic list! Where do I even begin?

Latvia is more equal than the US? Great for them! Too bad their GDP per capital is less than half of what it is in the US. See, this is why I think that the entire wealth inequality (often used interchangeably with "income inequality" by ignoramuses) is completely meaningless without looking at the larger picture. Would you rather have $50 and I have $1000 or would you prefer to have $1 and I have $2? The former is far more unequal but you're still 50 times better off than in the latter case. That's what we have with countries too - Kazakhstan might have very little inequality but it's still dirt poor. Speaking of poverty, 17.8% poverty rate in the US from that site is a bad joke - by global standards no one in the US is poor at all, we just have such a high standard of living that our poverty line is really high.

Then there was this little gem: "U.S. taxes and transfers do a relatively poor job of leveling out the economic playing field." That really isn't (or at least shouldn't be) the point of taxes! Taxation generates revenue for public goods, national defense, etc - it shouldn't be used as a tool to fight inequality (this is even aside from the fact that inequality in and of itself isn't a bad thing, as I mentioned above). I won't even bother with the "level economic playing field" nonsense.
 

prizrak

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That's not really news, people also "divorce" to get money for being "single parents" if the system allows it people will game it.
 

prizrak

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I understand that gaming the system is wrong and unethical but I don't quite understand how income inequality factors into it.
 

GRtak

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This is not something that lower incomes people do. This is just another example of wealthy people being scumy.

Where should I post this? This seems to fit because it is all about the rich taking benefits from a program that is meant to help lower income families get ahead.
 
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