The fundamental question: Why is inequality bad?

Discussion in 'Political Opinions & Beliefs' started by FixingLosers, Mar 7, 2015.

  1. Iriemon

    Iriemon Well-Known Member Past Donor

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    When the bottom 90% do not share in the growth and prosperity they help to create, they do not have the purchasing power to continue creating demand for a robust economy.
     
  2. TCassa89

    TCassa89 Well-Known Member

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    this is true, but that isn't to say that if the top 10% are made richer that the bottom 90% will not be
     
  3. Iriemon

    Iriemon Well-Known Member Past Donor

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    Of course.

    But since the early 80s, that is essentially what has happened.

    Family median income 2012 dollars
    http://www.census.gov/hhes/www/income/data/historical/families/2012/F06AR_2012.xls

    Year - income
    2012 62,241
    1979 57,734
    1953 31,929

    In the 26 years from 1953 to 1979, real median family income (in inflation adjusted terms) grew by 81%.

    In the 33 years from 1979 to 2012, real median family income (in inflation adjusted terms) grew by 8%.


    http://bea.gov/national/nipaweb/SelectTable.asp?Selected=N

    In the 26 years from 1953 to 1979, real GDP (in inflation adjusted terms) grew by 126.4%

    In the 33 years from 1979 to 2012, real GDP (in inflation adjusted terms) grew by 137.9%


    http://bea.gov/national/xls/gdplev.xls
     
  4. Keynes

    Keynes Well-Known Member

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    Just wanted to know if you are at all familiar with Nick Hanauer and his TED talk?
     

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