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

GRtak

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argatoga

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Historically the rich flaunting their status at the poor during times of economic hardship has never ended well.
 

RaptorJesus

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Historically the rich flaunting their status at the poor during times of economic hardship has never ended well.
Those kids aren't rich, upper middle class at the most. The real rich go to Ivy's regardless of merit, they have trust funds in the millions, and are a lot more circumspect in hiding their wealth to avoid the taxman.
 

GRtak

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Rich is all a matter of perspective.
 

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Historically the rich flaunting their status at the poor during times of economic hardship has never ended well.
They're just being dumbasses, but I wouldn't shed any tears if I heard they got a couple rocks chucked through the house windows.

Those kids aren't rich, upper middle class at the most. The real rich go to Ivy's regardless of merit, they have trust funds in the millions, and are a lot more circumspect in hiding their wealth to avoid the taxman.
Truth. But as GRtak said, it's a matter of perspective. 25% of US households have incomes below 25k a year. The median household income is just under 50k. Most households with two earners don't even break 75k. Less than 10% earn more than 100k, less than 2% earn over 250k. In the grand scheme of things, 100k or 250k isn't a lot of money. But that's a hell of a lot more than most Americans will ever earn in a year. So, some dumbass frat boys think they're super rich. Can't really blame them.

Edit: Not that I'm bashing all Greeks. Kappa Sigs just tend to be douchebags.
 
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Mr. Nice

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CHARTS: Here's What The Wall Street Protesters Are So Angry About...

It's hard to side with Occupy Wall St. as their defining factors are vague at best. I created this thread as more of a place to post articles and videos about the new problems we face in the United States, of great disparity in income, economic inequality and a dwindling middle class that this country is experiencing, which we have not experienced since the years just prior to and during The Great Depression.

Despite what others may say, this thread is not an assault on the rich. When the scales tip too far in one direction, things become unacceptably imbalanced. What the United States does not need to develop is a two class society of ruling rich and working poor. If we continue on our current course, that's where we will be. Even with over three million millionaires currently calling themselves United States citizens, the likelihood that you are or will be a have not has grown immensely.

The idea that you're going to magically get rich one day has never really been true for almost everyone. The one thing we have had in the US is the ability to get a decent job and have a nice middle class lifestyle... "The American Dream."

Our new nationalist attitude, in which we're also convinced that we're going to be wealthy and famous, is killing The American Dream.

This was written some 35 years ago. With our K Street culture of corporations and monied individuals assisting our representatives in their decisions, and with a Federal Department bearing the name of "Homeland Security" helping to police our fear filled society, how far are we away from becoming something we once fought to purge from the earth?
 

otispunkmeyer

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Was in NYC recently and seen one of these demo's near Wall St. I particularly like this picture because whilst in the background the "unwashed" are protesting whilst in the foreground we have ( i hope) Mr. Financier, headphones in, piercing scowl, expensive suit, not giving a flying fook what they think.

There were a couple of business men types hovering around there as well, just behind the demo, theres a public square kinda thing going on and there was loads of card board placards with slogans and stuff on (like Hold Barnery Frank accountable etc).... they were just wandering amongst them reading them.
 
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argatoga

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It doesn't matter if they don't have a unified message, agitated protesters in mass aren't far away from becoming a mob. By rubbing in their "1%" status these frat boys (as well as the Wall Street wine drinkers) are only throwing fuel on the flames.

The thing is these are popping up all over the country. That isn't good for the status quo.
 

GRtak

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Bankers? Salaries vs. Everyone Else?s

Why are the Occupy Wall Streeters so angry at bankers? This chart might give you some idea: (follow the link)


That chart is from a new report from the New York State Comptroller?s office on the securities industry in New York City.

It shows that the average salary in the industry in 2010 was $361,330 ? five and a half times the average salary in the rest of the private sector in the city ($66,120). By contrast, 30 years ago such salaries were only twice as high as in the rest of the private sector.

Last year helped contribute to the widening of that gap, too.

That?s not to say that bankers have job security.

The overall financial services sector was disproportionately hit by the financial crisis. The sector employs just 12 percent of the city?s work force, but accounted for one out of every three jobs lost in the recession. Some (not all) of those jobs were regained, but the comptroller?s office says the industry ?is likely to experience significant job losses over the course of the next year.?

In particular, the securities sub-sector of financial services ?could lose an additional 10,000 jobs by the end of 2012, which would bring total job losses in the industry to 32,000 since January 2008,? the report said.


These are the people (bankers and wall streeters) that offer the least to society and make a huge amount for it. Garbage collectors should make more as they actually do something for our society, bust their ass, and have to work in nasty working conditions.
 

otispunkmeyer

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These are the people (bankers and wall streeters) that offer the least to society and make a huge amount for it. Garbage collectors should make more as they actually do something for our society, bust their ass, and have to work in nasty working conditions.

Have to agree on some of the banking jobs, I mean they actually do nothing for the economy or society yet are handsomely rewarded. Almost like non jobs in the civil service/public sector.
 

jetsetter

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Banking (and insurance) is ultimately the basis for a modern industrial society. Without both the Industrial Revolution would not have occurred in the Britain or the United States and it would not have been able to sustain itself and expand. They are both vital to the functioning of the modern world.
 

narf

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Banking (and insurance) is ultimately the basis for a modern industrial society. Without both the Industrial Revolution would not have occurred in the Britain or the United States and it would not have been able to sustain itself and expand. They are both vital to the functioning of the modern world.

I don't think anyone's opposing the basic concept of banking and insurance.
 

Mr. Nice

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[video=youtube;S8uf-ZXLABE]http://www.youtube.com/watch?v=S8uf-ZXLABE[/video]


[video=youtube;QCu-XnVxhfk]http://www.youtube.com/watch?v=QCu-XnVxhfk[/video]

[video=youtube;5kwA-CwFK5A]http://www.youtube.com/watch?v=5kwA-CwFK5A[/video]
 
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Cellos88GT

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tigger

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I'm really not surprised in the slightest.
Me neither. We've got ~14 million unemployed, 1 in 6 under the poverty line and politicians talking about "shared sacrifice" as they cut funding for social programs, unemployment, food stamps, etc. What a bunch of bullshit. China has the same problem with income inequality that we do, difference is that they actually recognize it as a problem.

I'm not so optimistic that anything will change, but it's good to see people protesting for policies that would actually improve the lives of the middle class and poor.
 

jetsetter

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Me neither. We've got ~14 million unemployed, 1 in 6 under the poverty line and politicians talking about "shared sacrifice" as they cut funding for social programs, unemployment, food stamps, etc. What a bunch of bullshit. China has the same problem with income inequality that we do, difference is that they actually recognize it as a problem.

Looking at Gallup's data it seems like they missed most of the poorer areas of China. Beijing, Shanghai, and Guangzhou are consistently overrepresented.
 

tigger

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Looking at Gallup's data it seems like they missed most of the poorer areas of China. Beijing, Shanghai, and Guangzhou are consistently overrepresented.
Argh, I don't have time to look at the data sets now. The 4,100 person sample size is hard to shrug off though. That's insane.
 
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