The wealthiest 1% will own more wealth than the rest of the 99%, soon. - Polidicks

[QUOTE=Splash Attack;46969148]Does anyone have an economic explanation as to why this is happening? The more specific you can be, the better.[/QUOTE] I think it's probably because the economy has improved greatly since the 2007 crash, and so assets are worth more.

[QUOTE=Splash Attack;46969148]Does anyone have an economic explanation as to why this is happening? The more specific you can be, the better.[/QUOTE] Bush-era tax cuts, low capital gains tax, and generally a rock bottom tax rate in general compared to other developed countries has left lower income people with out the social support they need to get back up again, while bolstering the top 1%.

[QUOTE=Splash Attack;46969148]Does anyone have an economic explanation as to why this is happening? The more specific you can be, the better.[/QUOTE] Basically it boils down to tax systems right now making owning stuff like money, ground, assets more profitable than producing. You might want to read Thomas Piketty. [url]http://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century[/url] He explains it and provides the numbers to prove it.

[QUOTE=Coffee;46969177]I think it's probably because the economy has improved greatly since the 2007 crash, and so assets are worth more.[/QUOTE] economy doesn't mean shit for the people of the US unfortunately, while mean income is up, median is down, the middle class are poorer than ever.

[QUOTE=Ardosos;46969026]I don't know, it seems to work extremely well when people aren't abusing the hell out of loopholes in the tax system.[/QUOTE] Don't see why you're getting disagrees, you're pretty much right. [I]Source: Reagan's presidency[/I]

[QUOTE=Wizards Court;46969142]yes, a system that depends on endless growth and is completely unsustainable in the long run, CLEARLY is the best alternative :v:[/QUOTE] We're all dead in the long run anyways.

[QUOTE=Mister Sandman;46968943]Anybody want to bring up the argument that we shouldn't be taxing the rich any more I offer now as the time to bring that up[/QUOTE] Theres not enough of them to tax reasonably, without making them burning their passports and fleeing to god knows where.

[QUOTE=Deng;46969037]On the upside, absolute poverty is at the lowest level it's been in human history.[/QUOTE] while global poverty is at the lowest level, US has been getting progressively worse

[QUOTE=Wizards Court;46969142]yes, a system that depends on endless growth and is completely unsustainable in the long run, CLEARLY is the best alternative :v: and the only alternatives are the soviet union and the PRC, of course :rolleyes:[/QUOTE] Sorry Endless growth and completely unsustainable in the long run? Like, what is long run in your opinion? Because, last time I checked, capitalism has been working -As in: Still exists- since the north Americans gave the British the middle finger. Capitalism, ladies and gentlemen, is the only system that can work. And please, PLEASE, for every economist that has existed, stop confusing CAPITALISM with its implementation variants such as Laissez Faire, Dirigiste economy, Ordoliberalism, Keynesian models, etc etc.

[QUOTE=Sally;46969208]Theres not enough of them to tax, without making them burning their passports and fleeing to god knows where.[/QUOTE] there isn't anywhere else to go, the US has some of the lowest taxes in the developed world

I suggest you guys actually read the article. This talks about the entire world. This means that you have a ton of people who aren't really that rich imposed against people that earn $1/day, skewing the entire scale. I'm not saying wealth inequality isn't bad right now, but please do try and see what the deal is all about before lighting the torches?

[QUOTE=OogalaBoogal;46969209]while global poverty is at the lowest level, US has been getting progressively worse[/QUOTE] It's too soon to say. The USA is at the very worst stagnant when it comes to improving the lives of the worse off. Since incomes stopped tracking productivity gains (1960s), there have also been massive improvements to the lives of just about everyone who isn't white and male. I mean, 50 years ago as a black or gay guy was really shit.

[QUOTE=Deng;46969293]It's too soon to say. The USA is at the very worst stagnant when it comes to improving the lives of the worse off. Since incomes stopped tracking productivity gains (1960s), there have also been massive improvements to the lives of just about everyone who isn't white and male. I mean, 50 years ago as a black or gay guy was really shit.[/QUOTE] 51% of US children are currently being raised in poverty, it's only going to get worse because of that number. [url]http://www.huffingtonpost.com/2015/01/16/southern-education-foundation-children-poverty_n_6489970.html[/url]

This is extremely relevant. [IMG]https://pbs.twimg.com/media/BzTwzA2IQAAt0e_.jpg[/IMG]

Eat the rich.

[QUOTE=Used Car Salesman;46969028]Capitalism, ladies and gentlemen. The greatest wealth-concentrating social technology ever invented. :downs: It's not a bug, it's a feature.[/QUOTE] Capitalism is good to create and move industries, not so much for the well being of people. Mix capitalist methods of production with socialist social programs and we get the definitive social model for humanity. Capitalism works. That's a fact. But it needs to be regulated and kept in check.

Let's revert to communism.

[QUOTE=Disgruntled;46969322]Eat the rich.[/QUOTE] But then we am become the fatcat

[QUOTE=OogalaBoogal;46969305]51% of US children are currently being raised in poverty, it's only going to get worse because of that number. [URL]http://www.huffingtonpost.com/2015/01/16/southern-education-foundation-children-poverty_n_6489970.html[/URL][/QUOTE] Yet at the same time, the gender pay gap is at a record low. It is no longer illegal to be homosexual. People live longer lives. People are becoming better educated, have access to more information, and politics is still a major thing (it's not like democracy suddenly keeled over and died and its fucked and can't be fixed). For quite a lot of people, it's definitely better off. I mean sure, all of these things might sound meaningless if half of the children in the country are in poverty. Truth is that it's simply too soon to say if the US really is going to shit. It's been a few years since the crash and the juggernaut that's America moves slowly (and with their system they really do like to take it easy). Sure a crash or war or republican administration can bash at and dent the intricate parts, but it's not like its going to stop its lumbering progress onwards.

Isn't there a way we could increase taxation just enough to lower the lower 10% of that 99% back down to "only slightly filthy stinking rich" and in doing so benefit a much larger percentage of the population? And then couldn't you also do this incrementally, again and again, lowering the top down to a more reasonable level and raising the lowest to a more tolerable level while at the same time providing incentive to become wealthy because you are still the richest in the world?

[QUOTE=valkery;46969402]Isn't there a way we could increase taxation just enough to lower the lower 10% of that 99% back down to "only slightly filthy stinking rich" and in doing so benefit a much larger percentage of the population? And then couldn't you also do this incrementally, again and again, lowering the top down to a more reasonable level and raising the lowest to a more tolerable level while at the same time providing incentive to become wealthy because you are still the richest in the world?[/QUOTE] The top 1% in the US, who earn 20% of the income, already contribute 25% of the federal income tax revenue. The bottom 20% of earners only contributed less than 0.5% of income tax revenue.

Obviously this is a problem with the world but I find it funny when people in the West protest against the 1% when they themselves are in the 10% of people who actually enjoy a relatively high standard of living in the world largely due to the exploitation of much of the 3rd world.

[QUOTE=Deng;46968941]Well, I don't feel much like a slave.[/QUOTE] That's the great thing about it. You don't feel like a slave because you have choices, are unimportant as they may be. 31 flavors? Sure. Anything that really matters? Not really. [editline]20th January 2015[/editline] [QUOTE=Mister Sandman;46968943]Anybody want to bring up the argument that we shouldn't be taxing the rich any more I offer now as the time to bring that up[/QUOTE] Taxing people above the $500,000 bracket is stupid. People pay so much attention to that but don't realize how much they pay already. "Oh you make a million a year? You should pay more" and there is outrage if they don't but people don't give a shit about anyone actually important. People need to think bigger. Go after the executives making hundreds of millions.

[QUOTE=The mouse;46969439]Obviously this is a problem with the world but I find it funny when people in the West protest against the 1% when they themselves are in the 10% of people who actually enjoy a relatively high standard of living in the world largely due to the exploitation of much of the 3rd world.[/QUOTE] Hey, I'd like to pay more taxes.

Im curious when the pitchforks style revolution comes out, 5 years? 50 years? 100? I think its inevitable.

[QUOTE=Wint3r;46969365]Let's revert to communism.[/QUOTE] Bad idea, if we switch to that, the government will go so corrupt it will turn into China's government, which basically the head government is their own version of the 1%.

[QUOTE=Deathtrooper2;46970058]Bad idea, if we switch to that, the government will go so corrupt it will turn into China's government, which basically the head government is their own version of the 1%.[/QUOTE] Lol. Replace the words corruption with lobbying, communism with capitalism and the government you get is the same shit. You are running in circles there, bro.

[QUOTE=OogalaBoogal;46969214]there isn't anywhere else to go, the US has some of the lowest taxes in the developed world[/QUOTE] It wont if they see their taxes increase unreasonably. (Like when we want to tax the 1% even further) Its not my question to answer where they will go, or if there isn't any place for them. I only know what I would do if I believed I was taxed unfairly, or threatened with mob mentality. But then again its not like ill ever make anything near to that.

[QUOTE=Deng;46969387]Yet at the same time, the gender pay gap is at a record low. It is no longer illegal to be homosexual. People live longer lives. People are becoming better educated, have access to more information, and [B]politics is still a major thing (it's not like democracy suddenly keeled over and died and its fucked and can't be fixed)[/B]. For quite a lot of people, it's definitely better off. [/QUOTE] If you follow the research you'll discover that actually, democracy might as well have keeled over and died. Wealth = power and it doesn't matter if you vote democrat or republican, policy development in US democracy follows only the line of the desires of the wealthy, and the general public has almost zero influence on policy.

Oh boy I can't wait for all that wealth to trickle down! Any day now guys!