Quote:
Originally Posted by sendler
It is right there in your own chart. from 2000 from to 2014 lower AND middle class percentiles made less of an ever increasing GDP. Go back to 1900 and the bottom 90% had a share of growth which began to change around 1973. there was still growth for the middle class from 73 to 99 but had begun to diminish and shift as globalization separated the workers from the owners profits. In 1940 the CEO's made 40X the average worker. Today it is 380X. Not the janitor. 380X the average worker. 20 Million/ year is common for CEO's of government funded organizations like Freddie Mac. It is madness. You are happy with a $70 drone to play with. They are buying $7 Million jets and homes. We are totally getting screwed and you don't even know it. 118% of the recovery since 2008 has gone to the top 1%. The bottom 60% got 87%. They are making 13% less now than in 2006.
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What is the purpose of persuading me to be dissatisfied with my income? The quad-copter I bought cost
$7, which is testament to the power of technology and the global economy. My enjoyment of it remains, independent of the fact that there are millions of people who make hundreds of times more than I do.
There have been income declines in the lower income brackets periodically, but the overall trend over time is increasing. The only problem I can identify is abject poverty, which has trended downwards since recorded history. What is an equitable way to remedy wealth inequality then? That solution would have to preserve the trend of well-being improving for the majority of people.
I'm with you on the belief that many CEOs are vastly over-compensated. Unfortunately I'm not on any board of directors or have a controlling share in any business, so there isn't anything for me to do about it.
What I can do is take a personal and active role in helping individuals. It's individualized assistance that makes a real difference, not some bloated, inefficient, and impersonal government program.
I just got a call today from someone with 4 children and a wife who is in financial hardship, largely due to medical problems. It's my responsibility to respond, not the government.
The video you provided was interesting and enlightening. I then watched this: