Wealth inequality among the world , USA you are the best.

South Park

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Quote from: pixie85 on March 22, 2017, 05:50:02 PM

I don't see anything wrong with inequality. People are different, nations are different.
Do you expect a lazy person to be as successful as a workaholic? Do you expect a physical worker somewhere in Somalia to have the same chance of being wealthy as a lawyer's son in New York? You can't equalize the world and money will always bring more money, so being rich makes it easy for you to become richer, while a poor guy will struggle with everyday needs and will never find money to invest or start a business.

Differences in the income will happen that is true but at the same time, the disparity has grown to levels that are almost ridiculous with just a few individuals holding most of the wealth of the world, so something must be done in order to reduce the gap somehow.

bryant.coleman

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Quote from: South Park on March 22, 2017, 03:06:25 PM

Quote from: Qartersa on March 20, 2017, 11:22:23 AM

Welcome to a capitalist centered world we live in. If you want to even the playing field then oust every democratic capitalist governments and change it a communist government. Though, don't expect progress as much as we are getting right now if it will be a communist one. Well, the rich will not always be rich, there will come a time that they will lose it all. They will not live forever. They cannot amass every single dollar in the world before they die.

Communism is not the answer, it has failed every time it has been tried what it needs to happen is that wages need to be fair, while capitalism is the only economic system that works limits need to be put on, similar to what happen to the trains in the beginning of the 20 century.

Communism is an obsolete ideology. According to the communists, workers need to be paid, even if they are absent from work. I have seen such consequences of communism where I live. Sometimes these people torch factories and assembling plants, if disciplinary action is taken against any of their colleagues. Communism only encourages incompetency, anarchy and unproductivity.

pixie85

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I don't see anything wrong with inequality. People are different, nations are different.
Do you expect a lazy person to be as successful as a workaholic? Do you expect a physical worker somewhere in Somalia to have the same chance of being wealthy as a lawyer's son in New York? You can't equalize the world and money will always bring more money, so being rich makes it easy for you to become richer, while a poor guy will struggle with everyday needs and will never find money to invest or start a business.

Winchester2211

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Money always flow in one pocket. They remind me of mercury. Gradually the rich people are concentrated in the same hands. It does not depend on the country. Just in America more rich people and they quickly concentrated capital.

South Park

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Quote from: Qartersa on March 20, 2017, 11:22:23 AM

Welcome to a capitalist centered world we live in. If you want to even the playing field then oust every democratic capitalist governments and change it a communist government. Though, don't expect progress as much as we are getting right now if it will be a communist one. Well, the rich will not always be rich, there will come a time that they will lose it all. They will not live forever. They cannot amass every single dollar in the world before they die.

Communism is not the answer, it has failed every time it has been tried what it needs to happen is that wages need to be fair, while capitalism is the only economic system that works limits need to be put on, similar to what happen to the trains in the beginning of the 20 century.

Xester

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Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

Compared to Denmark America has a large territorial political boundary and that means the population is much higher than Denmark. The display in numbers is not something to be shocked at since there are more people in the United States than in Denmark. The more people a nation has the more gaps and grey areas that the government must looked at. In short what I mean is given the large number of Americas population inequality is normal.

Chikito

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Quote from: Sundark on March 21, 2017, 09:33:29 AM

Quote from: Chikito on March 21, 2017, 08:52:59 AM

only an illusion, and only the utopian mind shade. a contradiction between the rich and the poor will not be resolved until the end of time,

No. You are wrong here. We we study history we can see that there were "resets" before, called revolutions.
When level of inequality will reach certain level society will rebel, we had french revolution and October Revolution in Russia.
Current generation can't remember that but it will happen in the future as well, world order will reset.

yes, revolutions happen by itself, when the majority of people are ready for a revolution. requirements must be fulfilled requirements of the revolution, but now human consciousness is stepping into the world of technology, and approaches to liberate conservative paradigm is very difficult, maybe I was going to mention that I was one of the postmodern trash.

olubams

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Its obvious even from elementary economics that USA is the father of capitalism and this coming out is not a surprise to me. However, its not all bad for capitalism as countries that have different ideologies have not fared any better in terms of reducing the gap between the rich and the poor. The onus I see is on government to try reduce the gap because when it becomes too much then the outcome might result into the breakdown of law and order...

panju1

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Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

That is one way to calculate the skew in distribution, but is it an appropriate way to measure income inequality? You could have a bell curve, with mean = median and lots of income inequality.
The more accepted means of inequality is the Ginni Coefficient.
http://www.investopedia.com/terms/g/gini-index.asp

Doms

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Quote from: xuan87 on March 21, 2017, 09:11:24 PM

It can't be helped but it is the fact that now you need money to earn money, so the rich will get richer and the poor will get poorer, that's the reality of our society, it's not only happened in USA but all over the world and I think it is be good if the rich people help the poor people so it can narrow the inequality gap

Not a lot is being done by the governments to lessen the gap between the rich and the poor. Most everywhere you go, the wealthy always have better access to services and sometimes they are not being taxed proportionally to what they earn, compared to the masses who are being taxed until they bleed. This inequality is not going nowhere as we see how the poor remains poor while the rich, with all their connections and power, become even richer.

xuan87

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It can't be helped but it is the fact that now you need money to earn money, so the rich will get richer and the poor will get poorer, that's the reality of our society, it's not only happened in USA but all over the world and I think it is be good if the rich people help the poor people so it can narrow the inequality gap

Iranus

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Quote from: Genesis1337 on March 20, 2017, 01:13:46 PM

Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

aaaand? why should wealth inequality matter at all when everyone can live next to bill gates, jeff bezos, or steve jobs? those three men provided a service for a price, and raised everyone living standards as a result. the wealth inequality argument for socialism is retarded, if that whats your post was aimed at.

No one actually argued for socialism - clearly the comparison was between America and European countries, and that broadly, Europe's brand of capitalism results in less extreme wealth inequality.

Notably, Bill Gates, Steve Jobs and Jeff Bezos did not provide a service. Their employees did, and yet their employees did not receive the appropriate value of the labour that they did - hence why some people become so rich, surplus labour value. Just like how owning a machine does not mean that you made the cloth from it - it was done by a mixture of the workers and the machines, but people who own this property feel that they have a right to more than an amount of money proportionate to the amount of work they did.

Even in European countries this is a problem, but without socialism which is often economically flawed there are no viable solutions, so all America can do is adopt the slightly less right wing systems of countries like Sweden and Norway, which have very high standards of living and economies, as well as being havens for social progression in my opinion.

vnvizow

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Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

Not surprising when they host most of the Forbes500 as well as the 8 billionaires who hold 44% of the world's wealth. (and the Rothschild stuff if you believe in it)

Sundark

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Quote from: Chikito on March 21, 2017, 08:52:59 AM

only an illusion, and only the utopian mind shade. a contradiction between the rich and the poor will not be resolved until the end of time,

No. You are wrong here. We we study history we can see that there were "resets" before, called revolutions.
When level of inequality will reach certain level society will rebel, we had french revolution and October Revolution in Russia.
Current generation can't remember that but it will happen in the future as well, world order will reset.

Kimi80

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First I'm surprised that there is no India, Turkey, Brazil and some other countries, difference in this places is insane. I wonder about this data's, are they correct, and how we read this and many other and things stay the same? What we need to do to change this? Enough of bla, bla bla, everyone knows about this and nobody is doing nothing to stop this madness. WHY?

Chikito

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only an illusion, and only the utopian mind shade. a contradiction between the rich and the poor will not be resolved until the end of time, and if all the rich then the imminent destruction of the world and the apocalypse. but if the gap is not too much going on maybe the world would be better, criticism appropriately increase the wages becomes maximal and to improve living conditions become very feasible, or providing appropriate housing and farmer workers in spite of conservative thought.

Mometaskers

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How could it have ended like this? Do you think this all have to do with tax evasion? I mean, Americans are definitely not poor but why is it that wages don't seem to be rising? Now I'm curious if a flat tax rate would make a difference here.

Quote from: Qartersa on March 20, 2017, 11:22:23 AM

Welcome to a capitalist centered world we live in. If you want to even the playing field then oust every democratic capitalist governments and change it a communist government. Though, don't expect progress as much as we are getting right now if it will be a communist one. Well, the rich will not always be rich, there will come a time that they will lose it all. They will not live forever. They cannot amass every single dollar in the world before they die.

Yup. That's what estate taxes are supposed to be for, I guess. Though I heard here in my country, when a rich man is about to die they call the lawyer first before a priest. Supposedly it's for transferring properties.

Quote from: mindrust on March 20, 2017, 01:59:47 PM

Killing the middle class won't do any good to any country. If you want be like China where there are only slaves and masters, keep it up. These numbers not a fault of the system, it's clearly a taxing problem. It seems the USA having difficulties while taxing the richest people. There is no other explanation to that chart.

Capitalism is wild and America is capitalism. Sorry about the nurse btw.

True to this. China is only communist now by name. Marx would probably be turning in his grave right now.

suredoood

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Yeah, as an American I can say that it really doesn't help when we have a democratically flawed system. Those of you that know about Howard Zinn know that he talked about this specific issue in American a long time ago. The problem is that our elected officials are all funded by corporate entities and/or rich people involved in corporate entities, this means that the elected officials have to live up to what those rich people want otherwise the rich people will instead fund their opponent. This system puts some people in front of most in terms of representation and puts their monetary wants in front of the real issues in America.

The problem is that this goes so deep into the government that it becomes extremely difficult to fix.

mindrust

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Killing the middle class won't do any good to any country. If you want be like China where there are only slaves and masters, keep it up. These numbers not a fault of the system, it's clearly a taxing problem. It seems the USA having difficulties while taxing the richest people. There is no other explanation to that chart.

Capitalism is wild and America is capitalism. Sorry about the nurse btw.

gentlemand

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Quote from: pearlmen on March 20, 2017, 01:10:22 PM

Its unfortunate how bad inequality in USA is this bad. Even though I am an advocate of capitalism as I believe this brings out the best in the country and also creates an environment where individuals can expand to the maximum capacity, I also will not undermine the responsibility of government to keep the gap at check in other not to give room for anarchy and lawlessness in the society.

The US has gone one further than anyone else and pretty much rolled over to the will of corporate psychopaths. The same of course applies elsewhere but they add a little bit of tinsel to make it palatable.

A prime example of this is a nurse I knew in Denver. She was English but had worked at the same hospital for 35 years. Her brother was dying back in the UK. She asked for a month off (unpaid) to say her goodbyes. Her bosses said 'sure, but you'll have to reapply for your job when you get back.'

Now if that had happened in the UK the hospital would've gotten its arse torn off by the press at least, and possibly the law. Not in America. That's just business.

Vaccinus

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Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

that tell you a lot why their debt is so high, it mean that the rich people are evading taxes without problem and the debts is raising fast because of their bad behaviour, rich are getting more richer in USA than other country, this would be good to compare with bitcoin inequality, i'm sure bitcoin is better now with all the distribution

webtricks

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When we say A has 5x wealth as what B has, it doesn't mean B is poor. It maybe the case A is ultra rich and B is living sophisticated life though not in comparison to A but suitable enough.
So, in my senses Wealth is not at all a comparative measure but an absolute one. So instead of finding central tendencies, we should initiate finding real economy situation, the real poors. And in that term, I bet USA is far better than African and Asian subcontinent.

Genesis1337

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Quote from: sekaiissobig on March 20, 2017, 09:35:38 AM

Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

aaaand? why should wealth inequality matter at all when everyone can live next to bill gates, jeff bezos, or steve jobs? those three men provided a service for a price, and raised everyone living standards as a result. the wealth inequality argument for socialism is retarded, if that whats your post was aimed at.

pearlmen

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Its unfortunate how bad inequality in USA is this bad. Even though I am an advocate of capitalism as I believe this brings out the best in the country and also creates an environment where individuals can expand to the maximum capacity, I also will not undermine the responsibility of government to keep the gap at check in other not to give room for anarchy and lawlessness in the society. My humble contribution.

Sundark

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Quote from: Qartersa on March 20, 2017, 11:22:23 AM

Welcome to a capitalist centered world we live in. If you want to even the playing field then oust every democratic capitalist governments and change it a communist government. Though, don't expect progress as much as we are getting right now if it will be a communist one. Well, the rich will not always be rich, there will come a time that they will lose it all. They will not live forever. They cannot amass every single dollar in the world before they die.

Don't blame capitalism for wealth inequality. It is not that simple.

If we study economic history of United States we can clearly see that in late 19th and during first half of 20th century capitalism was working great.
It was because of great implementation of capitalism US become the number one nation in the world.
The problems with wealth disparity started when we entered phase called Corporatism or Predatory Corporate Capitalism.

gentlemand

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The more time you spend in the US the more you realise how little it resembles any other first world country.

There's stuff that goes unquestioned there that would have every European farmer spraying their local parliament with slurry.

Qartersa

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Welcome to a capitalist centered world we live in. If you want to even the playing field then oust every democratic capitalist governments and change it a communist government. Though, don't expect progress as much as we are getting right now if it will be a communist one. Well, the rich will not always be rich, there will come a time that they will lose it all. They will not live forever. They cannot amass every single dollar in the world before they die.

Snorek

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It's alarming situation, but it's is a known fact. These numbers, you presented are not surprising at all.

According to Wikipedia:

"Currently, the richest 1% hold about 38% of all privately held wealth in the United States. While the bottom 90% held 73% of all debt.
According to The New York Times, the "richest 1 percent in the United States now own more wealth than the bottom 90 percent".

I will blame disproportion between constant rise of productivity which is not backed by rise of wages.
US' real median of family income stopped growing in late 70s. since that time disparity between wages and productivity is only widening.

sekaiissobig

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Congratulation to USA as the top wealth inequality of developed nation among others.
Let us look closely on data, I have summarized the data from one of the report http://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=AD783798-ED07-E8C2-4405996B5B02A32E .
The inequality is calculated by using mean wealth divide with median wealth. If you learn math before, you should know what is mean and median and hence inequality can be calculated from those two values.

Country Median Mean Inequality
1. United States    $ 44,977    $344,692   7.66
2. Denmark    $ 52,279    $259,816   4.97
3. Germany    $ 42,833    $185,175   4.32
4. Austria    $ 52,519    $206,002   3.92
5. Israel    $ 54,384    $176,263   3.24
6. Kuwait    $ 40,803    $119,038   2.92
7. Finland    $ 52,427    $146,733   2.80
8. Canada    $ 96,664    $270,179   2.80
9. Taiwan    $ 63,134    $172,847   2.74
10. Singapore    $101,386    $276,885   2.73
11. United Kingdom    $107,865    $288,808   2.68

Wow, the inequality of united states is 54.12 % higher than denmark. It is clearly state that citizen of usa, please ask your representtives to do and act with actions! ! !

Topic: Wealth inequality among the world , USA you are the best. (Read 1178 times)