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Extreme policies lead to extreme outcomes.
Income inequality reached its highest level in more than half a century last year, as a record-long economic expansion continued to disproportionately benefit some of the wealthiest Americans.
A key measure of wealth distribution jumped to 0.485 in 2018, the Census Bureau said Thursday, its highest reading since the so-called Gini index was started in 1967. The gauge, which uses a scale between 0 and 1, stood at 0.482 a year earlier.
Work alone won't solve poverty—unless wages and earnings pick up substantially. It still takes government aid for families with children and others who do not earn enough, despite working 40 plus hours a week.
The most troubling thing about the new report, says William M. Rodgers III, a professor of public policy and chief economist at the Heldrich Center at Rutgers University, is that it "clearly illustrates the inability of the current economic expansion, the longest on record, to lessen inequality."
According to some research, US income inequality might be higher than it was during the Roman Empire, and pre-tax income inequality is as high as it was in the Roaring Twenties.
Income inequality is blamed on cheap labor in China, unfair exchange rates, and jobs outsourcing. Corporations are often blamed for putting profits ahead of workers. But they must to remain competitive. U.S. companies must compete with lower-priced Chinese and Indian companies who pay their workers much less. As a result, many companies have outsourced their high-tech and manufacturing jobs overseas. The United States has lost 20 percent of its factory jobs since 2000. These were traditionally higher-paying union jobs.
Service jobs have increased, but these are much lower paid.
If current policies touted as "decreasing globalism" in the US economy are trying to reduce income inequality, they're failing.
(Score: 3, Insightful) by VLM on Sunday September 29 2019, @02:09PM (6 children)
The hidden assumption is its something to do with "billionaires". For leftists those are a dog whistle strawman kinda thing. We MUST talk about billionaires to distract from the real source of the inequality.
Analyze by race or even use state as a proxy for race, and it seems to be more of an invasion scenario.
Its almost exactly like gun crime. White america income inequality, much like gun violence, is about as bad as Norway. There's a lot of propaganda intended to look confused at how, then, average american gun violence or inequality could possibly be so high. Its almost like there's segment of the population with violence and income equality levels like Somalia that happens to live here, but that couldn't possibly be the problem so we'll signal our virtue by looking very confused at the situation. Like how any healthy society would respond to problems (LOL).
(Score: -1, Flamebait) by Anonymous Coward on Sunday September 29 2019, @02:44PM
Shazam! Racist man child chimes in with defective world view. "What's racist about crime statistics?" Herp derp muh alt-right talking points!
Not like you were going to change anytime soon, but at least you stopped pushing your insecurity complex on to everyone else
(Score: 0) by Anonymous Coward on Sunday September 29 2019, @04:18PM (1 child)
Yes, we have Somalia in our cities, but I don't see anybody do anything about it.
(Score: 0) by Anonymous Coward on Monday September 30 2019, @05:33PM
Because it isn't true. There is no "Somalia in our cities." Perhaps, during the height of the crack wars 30 years ago one might have made such an argument and been *less wrong* than today. Come to a big city and see how folks will treat you. No, they don't necessarily smile and say hello to *every person they walk past* as often happens in small towns, as doing so with literally thousands of different people each and every day, would take up the bulk of one's time, leaving little time for work and the like.
However, when you actually *interact* with those folks, nearly all of them will be helpful, kind and decent.
I've lived and worked in much of this country. The East, West, South and Midwest. In small towns, suburbs and urban areas.
The vast majority of people I've met and interacted with (ethnic background and melanin content made no difference) with were decent, kind people.
In urban areas, however, I've met the *most* helpful, kind and decent folks.
That's not to say that there aren't nasty, mean and deceitful folks in urban areas. Those kinds of folks are *everywhere*, including in small towns, suburbs and urban areas. Thankfully, they are a tiny percentage of the population.
As such, population *density* plays a role in how many pieces of shit may be in a geographical area. That *may* mean that you run into more of those in a smaller geographical area in densely populated places, but on a per-person interacted with basis, the number of scumbags/unique 1,000 people interacted with will be the same.
(Score: 2) by The Mighty Buzzard on Sunday September 29 2019, @04:20PM (1 child)
No, talking about inequality at any level as if it's something other than simple envy is a false premise to begin with. Hating on billionaires is just decoration on a cake made of bullshit.
My rights don't end where your fear begins.
(Score: 1) by fustakrakich on Monday September 30 2019, @12:01AM
Just want them to pay their taxes like the rest of us and to obey the same laws... That's not too much to ask... Demanding the end of privilege is not envy.
La politica e i criminali sono la stessa cosa..
(Score: 0) by Anonymous Coward on Sunday September 29 2019, @11:55PM
If they get to call out Billionaires for everything, can I then use my boogeymen of niggwes and kikes or is this another case of rules being applied differently?