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Date: 03/05/13 11:04 AM

51 Responses to Contemplating Wealth Inequality In America

  1. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 11:05 am
    Link: Contemplating Wealth Inequality In America - Corporate profits are at record highs, while employee wages as a percentage of that are at record lows.
  2. Profile photo of LordJim
    LordJim Male 60-69
    6952 posts
    March 5, 2013 at 11:16 am
    I was thinking about submitting that graph video ony half an hour ago but I was distracted by a shiny thing.
  3. Profile photo of LordJim
    LordJim Male 60-69
    6952 posts
    March 5, 2013 at 11:19 am
    Oh, and this guy may well be right but I can`t stand him. Had to switch off. I could see he wasn`t going to be telling me anything new, just doing it obnoxiously.
  4. Profile photo of fancythat
    fancythat Male 30-39
    1950 posts
    March 5, 2013 at 11:30 am
    Took me about 4 seconds to not like this guy. If he were on a seat next to me on a plane, I`d ask to sit somewhere else.
  5. Profile photo of patchgrabber
    patchgrabber Male 30-39
    5812 posts
    March 5, 2013 at 11:44 am
    Is this a surprise? Capitalism concentrates wealth, it`s just what happens. Any competition in a free-market economy eventually gets crushed or assimilated into businesses with more capital. It`s only going to get worse, especially with the current plutocracy.
  6. Profile photo of normalfreak2
    normalfreak2 Male 18-29
    3883 posts
    March 5, 2013 at 11:44 am
    bleh, he`s got the right idea, his delivery is very abrasive though
  7. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 5, 2013 at 11:46 am
    Oh you think it`s only the US ROFL!!
  8. Profile photo of Pooptart19
    Pooptart19 Male 18-29
    2441 posts
    March 5, 2013 at 11:53 am
    Once again, Captain Fatf*ck misses the heart of the issue: Cronyism. "AHHHHH! There`s wealth inequality!" No s#*t, doofus. Every time banksters and the other politically-connected get into trouble, they have their pals in D.C. simply prevent them from facing the consequences of their malinvestment.

    As Russ Roberts put it, "Capitalism is a profit and loss system. The profits encourage risk-taking. The losses encourage prudence. Is it a surprise that when the government takes the losses, instead of the investors, that investing gets less prudent? If you always bail out lenders, is it surprising that firms can borrow enormous amounts of money living on the edge of insolvency?"
  9. Profile photo of Andrew155
    Andrew155 Male 18-29
    2579 posts
    March 5, 2013 at 12:07 pm
    Go to the EU. Visit Sweden, and then Germany, and then Greece and Portugal - and then tell me the EU is equal.


    Philosophical question, though. If, say, the bottom 20% has the same amount in gross dollars in 2 societies, but the top 20% in Society A has 100 times more wealth than that bottom 20% and the top 20% in Society B has 1000 times more wealth. Is this bad? The alternative would be Society B`s wealth just not existing. There is more inequality in Society B, but the people at the bottom have the same level of wealth. Society B also has more total wealth, which would probably make it more economically and technologically prosperous and enrich the tax coffers greatly.
  10. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 12:17 pm
    Once again, Captain Fatf*ck misses the heart of the issue

    I think you are the one missing the point. He`s not talking about bad investment strategies or corporations being too big to fail.

    He`s talking about the fact that the corporations are reaping huge profits, but ignoring their social responsibility by barely paying their employees enough to sustain them. Furthermore, because the market is dominated by a few huge corporations, there is no longer much choice of who to support with you money, and therefore the consumer is powerless to do anything about it through the capitalistic system.
  11. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 12:22 pm
    @Andrew155: Maybe this answers your question.. At least partly.
  12. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 5, 2013 at 12:38 pm

  13. Profile photo of BDT1981
    BDT1981 Male 18-29
    132 posts
    March 5, 2013 at 12:39 pm
    You know what, These videos have been made since before the 2008 stock crash. The information is spread as far and wide as it will get.
  14. Profile photo of DromEd
    DromEd Male 40-49
    1927 posts
    March 5, 2013 at 12:44 pm
    I`m supposed to take advice from a guy who looks like he lives in his mom`s basement?

    Dude, if you looked like a grown up instead of Dungeon Master you might get taken more seriously at work and on the web.
  15. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    March 5, 2013 at 12:44 pm
    I don`t think we should live in a society where the rich have become plutocrats...
    So, leave. Who`s stopping you. There are dozens of socialist $#!+holes out there where they have People`s Committees to regulate "fair" business practices and decide what`s a "fair" profit. Some of these places even speak English. If you don`t like the way we do it here, just pick one and GTFO.
  16. Profile photo of PinkHomicide
    PinkHomicide Female 18-29
    355 posts
    March 5, 2013 at 12:52 pm
    Why are all these videos the same They are never anything more then someone whining and adding one more self righteous "wake up" video onto the internet isn`t helping.

    I assure we`re awake, We`re well aware of how empty our gas tank, refrigerator and pockets are. We want real change, but admit it or not we are afraid to act alone or in vain and are looking to people like him who have a following to step off of their soapboxes and be the first to put their convictions into actions, to not just establish but organize a solution. Instead he cries for freedom, screams for righteousness, but fights for nothing.
  17. Profile photo of FoolsPrussia
    FoolsPrussia Male 30-39
    3446 posts
    March 5, 2013 at 12:56 pm
    Why couldn`t you have just posted the original video instead of this guy`s commentary?
  18. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 12:57 pm
    McGovern: First of all, that`s not any kind of argument. Hitler built highways, that doesn`t make highways evil.

    Second of all, watch the TED talk i linked to Andrew155. The tl;dw version: Lower wealth inequality in a society is better for everyone, including the upper class, irrespective of the GDP per capita. His conclusion is not based on conjecture, but in cold hard data. Don`t believe me; watch it.

    Here`s the link a second time, in case you`re lazy.
  19. Profile photo of MrPeabody
    MrPeabody Male 30-39
    1920 posts
    March 5, 2013 at 1:08 pm
    He`s talking about the fact that the corporations are reaping huge profits, but ignoring their social responsibility by barely paying their employees enough to sustain them.

    Corporations have no `social responsibility` to pay their employees anything. It is a corporations responsibility to see to its bottom line as long as it is not doing anything illegally. If an employee does not like his wages or working conditions then he should seek other employment. The corporation will quickly realize that if they cannot retain employees, or obtain the best talent, then they will rethink their pay scale.

    Furthermore, because the market is dominated by a few huge corporations, there is no longer much choice of who to support with you money

    BS. At one time Blackberry was the top of phone market. Apple put their money on the line to come up with a better product, and reaped the rewards. Other companies are now taking Apple on.
  20. Profile photo of MrPeabody
    MrPeabody Male 30-39
    1920 posts
    March 5, 2013 at 1:11 pm
    cont.
    The market is driven by corporations striving to be better. As soon as a corporation backs off someone will want what they have and take it.
  21. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 5, 2013 at 1:13 pm
    If you try to take and redistribute the 1% wealth they will move to a place were they don`t do that. Besides trusting the government to do that is crazy they would take cuts of it at every chance they get which is what happened with communism.
  22. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 5, 2013 at 1:15 pm
    It would be beter to find a way to motivate the disgustingly rich to do such things voluntarily.

    Ever watch the history channel series The Men who built America this is not a new phenomenon.
  23. Profile photo of Solvent
    Solvent Male 18-29
    2842 posts
    March 5, 2013 at 1:20 pm
    Envy. Envy everywhere.
  24. Profile photo of chalket
    chalket Male 50-59
    2712 posts
    March 5, 2013 at 1:49 pm
    As usual, our resident neo-conidiots have totally
  25. Profile photo of normalfreak2
    normalfreak2 Male 18-29
    3883 posts
    March 5, 2013 at 1:50 pm
    "It would be beter to find a way to motivate the disgustingly rich to do such things voluntarily."

    It`s called charity and it doesn`t work because there`s nothing "charitable" about it. They do it for a benefit a tax break not because they feel obligated to do so. The whole premise of find a way for greedy people to give money away doesn`t happen, have to change the problem Greed is the root problem.
  26. Profile photo of DromEd
    DromEd Male 40-49
    1927 posts
    March 5, 2013 at 2:18 pm
    I find it a little odd that wanting to keep is called greed but wanting to take isn`t.

    Some of you need to wake the f--- up and smell what you`re cookin`. I`ve never met a single person in real life who bitched and moaned about the evil bidnezz keeping him down that could have possibly been worth a damn at his job.

  27. Profile photo of SexyCommando
    SexyCommando Male 30-39
    5 posts
    March 5, 2013 at 2:19 pm
    "I`m not against capitalism. I`m not against rewarding people who work harder or smarter than the rest of us." - TAA

    By his own words he invalidates his argument for being pro Capitalism.

    Capitalism rewards those that work smarter more than they do those that work harder. Is it not smarter to hire 100 "slaves" to play the game of monopoly for you rather then play 100 games yourself? Is it not smarter to "pull strings" and change the rules to stack the odds of the game in your favor?

    Don`t like the game then don`t play the game.

    Park Avenue

    The Money-Empathy Gap
  28. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 3:28 pm
    Corporations have no `social responsibility` to pay their employees anything. It is a corporations responsibility to see to its bottom line as long as it is not doing anything illegally. If an employee does not like his wages or working conditions then he should seek other employment. The corporation will quickly realize that if they cannot retain employees, or obtain the best talent, then they will rethink their pay scale.

    Textbook answer. Also devoid of any sense of reality. It works if supply and demand of labor was somewhere near equilibrium. That`s not the case any more however. Unemployment is very high, and people with jobs can`t afford to lose them, and have a very hard time finding better ones because no one is hiring. This state of affairs gives all the power to the corporations and gives them the opportunity to squeeze their employees for money, even though they can easily afford to pay them reasonable wages.
  29. Profile photo of Oystah
    Oystah Female 40-49
    4032 posts
    March 5, 2013 at 3:29 pm
    Sheesh what a freakin whiner. Must get invited to a lot of parties...
  30. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 4:04 pm
    continued
    Meanwhile, hard working people are suffering, living paycheck to paycheck. The problem isn`t lack of funds, but lack of will. Wal-Mart, for example, employs 2 million people. It is the main source of income for a large part of the population, yet their store clerks straddle the poverty line.
    To say that this is just the way it`s supposed to be is, in my view at least, declaring moral bankruptcy.
  31. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36668 posts
    March 5, 2013 at 4:18 pm

    "I`m no exception. GOOGLE issues my paychecks."
    Not any more.
  32. Profile photo of DromEd
    DromEd Male 40-49
    1927 posts
    March 5, 2013 at 4:49 pm
    I just Googled "Kain1 petitions Walmart for better employee pay" but I came up empty. Strange that.
  33. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 5, 2013 at 4:52 pm
    @DromEd:



    It was an example.
  34. Profile photo of DromEd
    DromEd Male 40-49
    1927 posts
    March 5, 2013 at 6:45 pm
    Sorry young padawan but it`s you who have missed the point. You`ll understand someday. It`s the natural order of things.
  35. Profile photo of SilverThread
    SilverThread Male 30-39
    3431 posts
    March 5, 2013 at 8:06 pm
    You want to buck the trend? Quit being a consumer. Let me know how that works out.
  36. Profile photo of paperduck
    paperduck Male 18-29
    1745 posts
    March 5, 2013 at 8:59 pm
    This guy is a tireless tard. Pseudo-intellectual BS. Fact: we have a higher standard of living than every generation before us in the 2 million+ year history of humanity.
  37. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    March 5, 2013 at 10:57 pm
    It`s called charity and it doesn`t work because there`s nothing "charitable" about it. They do it for a benefit a tax break not because they feel obligated to do so.
    Obviously you have never earned enough money to have paid income tax, have you?
  38. Profile photo of Tupinambis
    Tupinambis Male 18-29
    568 posts
    March 6, 2013 at 1:02 am
    Marx! Is that you?
    Oh, no... it`s just a stupid hippie that saw a few charts.
    I only agree with him on the fact that trivial concerns like gay marriage and drug legalization are removing focus on the more important problems.
  39. Profile photo of ferdyfred
    ferdyfred Male 40-49
    13631 posts
    March 6, 2013 at 1:27 am
    This is how the world revolves,
    basic command and conquer
    I work for a huge US electronics firm,
    they have in 6 years cut the huge number of clever people at our plant from 150, down to 55,
    and now employ temps at basic UK wage,
    Why? Apart from them making a crap more money chucking out the same amount, they can chop and change temps at a days notice,
    good - no, its fecking crap, but for the books
    its all good
    way the world works now
  40. Profile photo of ferdyfred
    ferdyfred Male 40-49
    13631 posts
    March 6, 2013 at 1:31 am
    As chalket
    says
    point - missed
  41. Profile photo of ferdyfred
    ferdyfred Male 40-49
    13631 posts
    March 6, 2013 at 1:33 am
    Dog eat dog world right now dude
    just having a job is a prized possession
    dont bleat about it
  42. Profile photo of Musuko42
    Musuko42 Male 18-29
    2850 posts
    March 6, 2013 at 3:46 am
    @OldOllie

    "If you don`t like the way we do it here, just pick one and GTFO."

    If you don`t like the way your country is run, you lobby and vote to change it. That`s what a DEMOCRACY is for.

    If he doesn`t like it, he can stay and try to change it.

    Telling him that he has to live in the system, or leave, and he doesn`t have the right to change that system...well, that doesn`t sound like you believe in democracy.
  43. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 6, 2013 at 4:34 am
    @DromEd: Sooo.. what? you`re older than me, therefore you are automatically right?.. Sorry to say, that`s actually not how the world works. It may have been the case back in "your day", but not any more.

    My grandma is a prime example. I love her, but she`s as dumb as a traffic cone.
  44. Profile photo of DromEd
    DromEd Male 40-49
    1927 posts
    March 6, 2013 at 5:46 am
    I swear I`ve heard more intelligence arguments from conch shells.
  45. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 6, 2013 at 6:04 am

  46. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    March 6, 2013 at 6:06 am

  47. Profile photo of papajon0s1
    papajon0s1 Male 40-49
    578 posts
    March 6, 2013 at 6:59 am
    So... what we need to do is take all the money from the rich and the big businessness and give it to everyone who doesn`t contribute and then we can all be equally miserable! Sweet! Sign me up! I went to work today hoping for less opportunity and hey, maybe more taxes!
  48. Profile photo of Agent00Smith
    Agent00Smith Male 18-29
    2581 posts
    March 6, 2013 at 9:26 am
    Give unto Caesar what is Caesar`s. Give unto God what is God`s.
  49. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 6, 2013 at 2:46 pm
    @McGovern & papajon0s1: No one is talking about socialism. That would be retarded. Socialism doesn`t work.
    Ending the plutocracy/crony capitalism however, would be a very good thing.
  50. Profile photo of Kain1
    Kain1 Male 18-29
    1473 posts
    March 6, 2013 at 2:48 pm
    I swear I`ve heard more intelligence arguments from conch shells.


    First of all, i think you mean "intelligent".

    Second of all, your entire contribution to this conversation is (i`m paraphrasing here)

    "He`s ugly and fat, therefore it`s not worth listening to what he has to say."

    and

    "You`re all just jealous because you aren`t as good at making money as the rich people".

    Go back to your cave. You obviously don`t belong in a serious discussion.
  51. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    March 6, 2013 at 11:24 pm
    @Musuko42 If you don`t like the way your country is run, you lobby and vote to change it. That`s what a DEMOCRACY is for.
    Which is EXACTLY why this country was NOT set up as a f***ing democracy, although it has pretty much degenerated into one.

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