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

Mr. Nice

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I've been hesitant to weigh in on this conversation, and, inevitably, will regret doing so.

It's not income inequality in general that people are upset about, but this is something that a mouth breather can't understand. It's the amount of income inequality that causes problems. Countries have a certain amount of GDP per capita. In the U.S.A. this number is currently about $59,000 annually. How this gets distributed can have great consequences over time.

If you know your history, you'll know that income inequality is one of the main reasons, if not the main reason, for the 16th amendment, which established our progressive system of income tax in 1913. This era, the era of the robber barons, and the gilded age, also led to the anti-trust laws that broke up companies like Standard Oil. These anti-trust laws have been largely neutered over time, but they do still exist.

https://www.nytimes.com/2018/09/07/technology/monopoly-antitrust-lina-khan-amazon.html

 
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Mr. Nice

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That's nearly 130 million people. Pretty sad when you consider that our Gross Domestic Product is enough for 327.2 million people to have more than $59,000 annually if spread equally. While I wouldn't want to see everyone make exactly the same amount, the fact that more than a third of the population can't afford a $400 expense shows that our society is suffering from some deep structural problems resulting from too much inequality.
 

prizrak

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the fact that more than a third of the population can't afford a $400 expense
Is it because those people make very little money or because they are really bad at managing it? Also are they making so little money because they have no opportunities whatsoever or because they aren't doing anything to get out of it? (I don't know the answer to these questions but it is something to consider before we get into income redistribution)
 

Mr. Nice

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The stress of being poor actually can cause people to be worse at managing money. Many of those who are hurting financially are stuck in their situations, since it costs money to go to school or get training in another field. Finally, incomes at the bottom end of the income scale have been mostly stagnant, and have had the added stresses of things like increases in health care and housing costs that have far outpaced income increases. The majority of the increases in income have gone to the earners at the upper end of the scale. This has been true for more than a decade.
 
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gaasc

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Your point is true, it is also not mutually exclusive with Priz's
 
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