Is there any truth to this?

[ianmdrennan 2]

After all, it's easy to make a pretty slide presentation that panders to what someone may 'want' to believe.

I'm curious though (since a lot of you research this stuff)....how accurate is this video that came across my facebook feed?

http://www.upworthy.com/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact-2?g=5

Performance Designs Factory Team

[labrys 0]

There doesn't seem to be much out there disputing the study that this video is based on.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/03/06/this-viral-video-is-right-we-need-to-worry-about-wealth-inequality/

Owned by Remi #?

[jclalor 12]

I believe the silence from the usual right wing mouth pieces in this thread says everything you need know.

[RonD1120 58]

Kallend posted this link some time ago.

You live in FL, I presume. Take a ride up and down the east coast and check out the Flagler edifices. Or see what Vanderbilt built. Opulence has always existed in America.

America has provided a philosophical ideal, opportunity and pathway for some people to become obscenely rich. Check out the Kennedy's and, they did it smuggling.

This fact is what makes America an exceptional country. The other countries do not allow wealth except by brute force and corruption.

It is not that some make it to the top of the top is bad. It is that it's possible to make it to the top of the top and that is good.

Back in the 90's I used a program called Managing Your Money. Every time I used it a daily saying would pop up. One of them, that I remember, was, "The object is to make so much money that money is not the object."

Motto: Don't be a whiner because you didn't make it. Instead, encourage your children to try.

Look for the shiny things of God revealed by the Holy Spirit. They only last for an instant but it is a Holy Instant. Let your soul absorb them.

[airdvr 200]

All men are created equal. After that all bets are off. I have no real problem with the distribution. Have you seen how much athletes make? How about pop stars? We all want to point our fingers and say that its wrong yet we contribute wholly to the problem.

Please don't dent the planet.

Destinations by Roxanne

[sfzombie13 307]

the only real problem i have with this country/society is commercialism. i don't care that others disagree with me, in fact, i encourage it. sometimes i change my mind based on logical arguments. what i do have a problem with is the fact that we have become a society of whiners and complainers who would rather sue for their own stupidity than to take responsibility for their own actions.

_________________________________________
Si hoc legere scis nimium eruditionis habes

[Bertt 0]

Best answer so far. Actually, I do have a problem with the distribution, but not because athletes and pop stars make a lot of money. The issue I have is that some income is given preferential tax treatment: e.g. lower rates for dividends vs. wages.
Yes, we contribute to the problem. A lot of that is education. I don't mean algebra and trigonometry, although that's a problem in America. I mean telling people how they can make things better for themselves. How many people do you think write their congressman and ask for changes in tax law? How many people drive an older car with no car payment vs. a newer car with a hefty payment? How many people hurt their finances with the way they use credit cards?
One thing about wealth statistics that I haven't been able to get a handle on is the difference between someone's net worth and their wealth. Studies such as those that started this discussion measure net worth. In fact, a family can live a very nice life with little, or even negative, net worth. For this reason, I believe the true wealth distribution in America is not as bad as these types of studies indicate. I'm just not sure how to get a better measure.

You don't have to outrun the bear.

[aphid 0]

RonD1120

This fact is what makes America an exceptional country. The other countries do not allow wealth except by brute force and corruption.

Oh, please. Another morsel of myopia.

[BIGUN 1,071]

1. It's all Obama's Fault http://www.huffingtonpost.com/2012/11/02/us-one-million-new-millionaires-obama_n_2066177.html

2. Having wealth is nothing to be ashamed of... especially for the self-made.

3. You have the same opportunity.

Nobody has time to listen; because they're desperately chasing the need of being heard.

[Stumpy 256]

aphid

***
This fact is what makes America an exceptional country. The other countries do not allow wealth except by brute force and corruption.

Oh, please. Another morsel of myopia.

Yeah I had to laugh at that one too.

Never try to eat more than you can lift

[rickjump1 0]

airdvr

All men are created equal. After that all bets are off. I have no real problem with the distribution. Have you seen how much athletes make? How about pop stars? We all want to point our fingers and say that its wrong yet we contribute wholly to the problem.

Put ten men in a room, and give each man ten thousand dollars. At the end of the day, someone will be poor.

Do your part for global warming: ban beans and hold all popcorn farts.

[BIGUN 1,071]

rickjump1

***All men are created equal. After that all bets are off. I have no real problem with the distribution. Have you seen how much athletes make? How about pop stars? We all want to point our fingers and say that its wrong yet we contribute wholly to the problem.

Put ten men in a room, and give each man ten thousand dollars. At the end of the day, someone will be poor.

That's called Texas Hold'em

Nobody has time to listen; because they're desperately chasing the need of being heard.

[billvon 2,434]

Pretty accurate overall. While income overall has gone up for every income category it has gone up a whole lot more for the top earning brackets.

[airdvr 200]

I'm wondering what effect government programs have on this graph. I suspect if you're on the bottom it's alot more difficult to move up and walk away from the entitlements.

Please don't dent the planet.

Destinations by Roxanne

[wmw999 2,148]

I think you're right about that, and it's getting worse. It's easy to say that the solution is just to get rid of the government programs, but there are, in fact, people who need them.

It's not getting better, in terms of jobs that the bottom echelon can do. Those include people who aren't that smart, have learning disabilities, emotional problems, bad parents, bad schools.

There's also a sense of entitlement to a certain standard of living among some folks -- not having to share a bedroom is very high on the list, as are having a phone, TV, and internet. Living exceedingly cheaply is one of the ways that immigrants get ahead.

The thing is that there are few opportunities out for people who are at the bottom -- only the exceedingly motivated and intelligent can generally spring well out of poverty. The average won't go anywhere, because those jobs are getting fewer and farther between.

I had a friend who made it to marketing rep at IBM with a high school GED and 1 year of community college. It's possible. But he was probably the only one in the country. That's not a lot of opportunity.

Wendy P.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[skydiver30960 0]

I will give you that the government programs are necessary, and cannot simply be erased, if you will give that there is a HUGE amount of waste and abuse taking place. There are too many people who have lived (literally) their whole lives on assistance, and who have literally no motivation to change. You and I have worked all our lives, and could not imagine anything else, because that was the environment in which we were raised and now live. The idea of living day in and day out on welfare is just as foreign to us as the idea of a 40 hour work week is to many in the lower class, because they have no concept or need for it.

The answer is not to tax (anyone) more. I agree with the need for tax equity. But I do not agree with the need to punish success. We need to figure out how to take the money already in the system, and use it BETTER. Set limits on handouts, while at the same time increasing the access to education (particularly for adults). The combination of impetus and availability will motivate many to improve themselves and their position. For those that CAN improve themselves but refuse to change: fuck 'em, they made their choice, let 'em live in squalor if they so choose.

A lot of this is already in place: the U.S. community college system is AWESOME. I made more money on day one as a nurse with an Associate's degree than I did in my first job as an engineer with a B.S. and a B.A. The system is set up to give HUGE benefit to those who cannot afford a baccalaureate degree. The opportunity is there to those who want it. We need to INCREASE that opportunity while DECREASING the handouts, to make the move toward self-improvement both easier and more necessary.

The biggest complaint I have with presentations like this: what the fuck am I supposed to do? He says we need to "wake up." Wake up and what? Yeah, I know: vote. I have done this, and that seems not to have helped us middle-classers much. We're getting it from both sides: the poor see us as the rich and want our money. The rich see us as below them: they protect their own money and let us foot the tab for what they would call "liberal" programs. So, honestly, how do I make a difference? How do I fix this?

Elvisio "book smart, world weary" Rodriguez

[sfzombie13 307]

i will tell you that if everyone had the attitude you have in that last line, we would all be able to make a difference.

_________________________________________
Si hoc legere scis nimium eruditionis habes

[Channman 2]

I found the video to be quite interesting. I posted in another thread that my wife and I's income is somewhere in the top 5%. After seeing this video, maybe not. I did receive a 14% pay raise two months back, never would have had that kind of raise when working at NASA.

I have a friend in the financial industry who lives in Baton Rouge. His income is somewhere around 360K per month. Been in the business for more than 25 years and receives trails on investments he has under management. Would love to have his drive and passion for what he does.

[Channman 2]

wmw999

I think you're right about that, and it's getting worse. It's easy to say that the solution is just to get rid of the government programs, but there are, in fact, people who need them.

It's not getting better, in terms of jobs that the bottom echelon can do. Those include people who aren't that smart, have learning disabilities, emotional problems, bad parents, bad schools.

There's also a sense of entitlement to a certain standard of living among some folks -- not having to share a bedroom is very high on the list, as are having a phone, TV, and internet. Living exceedingly cheaply is one of the ways that immigrants get ahead.

The thing is that there are few opportunities out for people who are at the bottom -- only the exceedingly motivated and intelligent can generally spring well out of poverty. The average won't go anywhere, because those jobs are getting fewer and farther between.

I had a friend who made it to marketing rep at IBM with a high school GED and 1 year of community college. It's possible. But he was probably the only one in the country. That's not a lot of opportunity.

Wendy P.

Wendy, my sister made it to Vice President of a Marine Division with a large insurance company. She pulls down more than300k with only a High School education. But she worked her way up from a clerk and received all required licenses and was promoted within.

[Remster 24]

Quote

After seeing this video, maybe not

If you're still curious about it, there's a ranking engine on the right hand side, for both income and wealth.

http://blogs.wsj.com/wealth/2011/07/28/how-rich-are-you/

Remster

[wmw999 2,148]

It's possible -- it's just that particularly in a tight market, the number of slots for standouts who aren't overqualified are far fewer.

And the best way to be overqualified is to have enough to have paid for an education and/or connections.

Wendy P.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[mirage62 0]

I just wish people would wake up to the fact that although politicians ALWAYS talk about taxing "the rich" and being "fair" it normally doesn't hit the G.E.'s. See G.E. gives money away, has people to lobby for them.....

I wonder how much G.E.'s taxes went up, last year - vrs how much they will actually PAY..........

Kevin Keenan is my hero, a double FUP, he does so much with so little

[ManagingPrime 0]

rickjump1

***All men are created equal. After that all bets are off. I have no real problem with the distribution. Have you seen how much athletes make? How about pop stars? We all want to point our fingers and say that its wrong yet we contribute wholly to the problem.

Put ten men in a room, and give each man ten thousand dollars. At the end of the day, someone will be poor.

That's not how the system works though...it's how people like to think it works.

Interesting article on a UC Berkeley study:

http://nymag.com/news/features/money-brain-2012-7/

[billvon 2,434]

>I just wish people would wake up to the fact that although politicians ALWAYS
>talk about taxing "the rich" and being "fair" it normally doesn't hit the G.E.'s

Who are GE's?

[dmcoco84 4]

Quote

Who are GE's?

Winner's picked by government... Big Business collusion with Big Government.


I ask this... even if the numbers in the video are correct, what is the point?

We are not a Free Market Republic any more... lets go back to that, first.

Ben Franklin ... Ben Carson ... Both were very poor.

The system isn't the problem... the fundamental transformations since the beginning of the Progressive Era are.