Income Inequality, in One Comparison

Discussion in 'Politics, Religion, Social Issues' started by jnpy!$4g3cwk, Mar 17, 2015.

  1. jnpy!$4g3cwk macrumors 65816

    jnpy!$4g3cwk

    Joined:
    Feb 11, 2010
    #1
    (by Justin Wolfers)

    http://www.nytimes.com/2015/03/14/upshot/wall-street-bonuses-vs-total-earnings-of-full-time-minimum-wage-workers.html?abt=0002&abg=1

    This article pretty much sums up the situation.

    I think back to a successful stockbroker that I knew back in the 60's. Nice house in a nice suburb, a modest vacation home, and that was pretty much it.
     
  2. Dmunjal macrumors 65816

    Joined:
    Jun 20, 2010
    #2
    Let's hope the Fed raises rates tomorrow and continues to do so. Low interest rates have enabled Wall Street and the 1% to enrich themselves by raising asset prices while hurting the middle class with increasing costs of living. Higher rates will also help middle class savers and retirees who do not want to play in the stock market casino.
     
  3. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #3
    Higher rates will also penalise middle class owners with mortgages to pay. Small businesses who want to expand will also be penalised.

    And rich savers will also benefit - although admittedly less as they will have their money in stocks.
     
  4. tgara macrumors 6502a

    tgara

    Joined:
    Jul 17, 2012
    Location:
    Somewhere in the Delta Quadrant
    #4
    Good points that are often forgotten. Retirees and others on fixed incomes also get hit by low interest rates.

    Remember also that each person who receives a bonus must pay state and federal taxes on that money. This can amount to quite a lot going straight into federal and state coffers. Bigger bonuses mean more tax revenue, and vice versa.
     
  5. Dmunjal macrumors 65816

    Joined:
    Jun 20, 2010
    #5
    You have to consider that many mortgages have been refinanced into fixed loans because of the record low in interest rates.

    Of course, there are winners and losers. But by far, low interest rates have widened the wealth inequality gap.
     
  6. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #6
    Income inequality reflects the failure of a nation built on something called freedom. I realize that haves and have-nots are part of any human culture, but when the number of have-nots climb to such a high percentage, our values are out of balance. Part of the issue is a culture supported by slave wages and the gutting of a progressive tax code.
     
  7. sualpine macrumors 6502

    sualpine

    Joined:
    May 13, 2013
    #7
    [​IMG]
     
  8. numlock macrumors 68000

    Joined:
    Mar 13, 2006
    #8
    seriously what 5 year old thought this one up and whipped out paint?
     
  9. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
  10. Renzatic Suspended

    Renzatic

    Joined:
    Aug 3, 2011
    Location:
    Gramps, what the hell am I paying you for?
    #10
    It was me. I did it.

    Here's another one...

    [​IMG]

    Notice that I put the smart people who agree with me on the left.
     
  11. numlock macrumors 68000

    Joined:
    Mar 13, 2006
    #11
    are you available for freelance work?
     
  12. citizenzen macrumors 65816

    Joined:
    Mar 22, 2010
    #12
    It would appear this it the source: http://freedomismoral.com, including an in-depth analysis of what all those lines and arrows mean.
     
  13. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #13
    I love the fairy tale about social mobility too.
     
  14. Renzatic Suspended

    Renzatic

    Joined:
    Aug 3, 2011
    Location:
    Gramps, what the hell am I paying you for?
    #14
    I hope you're not a socialist expecting a handout, cuz I don't come cheap.
     
  15. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #15
    Lol. Simple minds, have simple views, and simple solutions... That sometimes don't work or reflect reality. I'm curious, do you take the Bible at face value? :)
     
  16. sualpine macrumors 6502

    sualpine

    Joined:
    May 13, 2013
    #16
    The facts keep trying to get to you, but you keep dodging them.
    [​IMG]

    [​IMG]
     
  17. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #17
    Typically conservative facts are not real, but self serving to promote a self serving agenda. No surprise there. Btw, I'm offended when you use scenes from a favorite movie to promote your argument. :p
     
  18. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #18
    I'm amazed its anywhere near as high as those percentages. Probably because at 26 people who are low status but who have worked for longer are able to earn a fair amount of money compared to people who are still in education.
     
  19. Renzatic Suspended

    Renzatic

    Joined:
    Aug 3, 2011
    Location:
    Gramps, what the hell am I paying you for?
    #19
    Notice your social mobility graph doesn't extend past '86...

    See, social mobility, or the lack thereof, wasn't an issue in the past. It's very quickly becoming one now. This is actually the root of the problem with your argument. You assume that just because something was true previously, it continues to be true as a given default.
     
  20. sualpine macrumors 6502

    sualpine

    Joined:
    May 13, 2013
    #20
    Did you just say facts are not real? Facts are intrinsically truth. And truth is real. Conservative or not.
     
  21. Renzatic Suspended

    Renzatic

    Joined:
    Aug 3, 2011
    Location:
    Gramps, what the hell am I paying you for?
    #21
    You have to verify those facts as facts, otherwise they're nothing more than a bunch of squiggly lines.
     
  22. TheHateMachine macrumors 6502a

    TheHateMachine

    Joined:
    Sep 18, 2012
    Location:
    Houston, TX
    #22
    Squiggly lines whipped up in MS Paint have feelings too you know.
     
  23. Eraserhead macrumors G4

    Eraserhead

    Joined:
    Nov 3, 2005
    Location:
    UK
    #23
    It does because it's people born in 1986 who were 26 in 2012.
     
  24. Renzatic Suspended

    Renzatic

    Joined:
    Aug 3, 2011
    Location:
    Gramps, what the hell am I paying you for?
    #24
    MS Paint is socialism! It comes free as a handout with Windows. Therefore...NO RESPECT!

    Me? I use Photoshop for my fancy graphs.

    ----------

    The graph doesn't account for that, though. It only shows a predicted steady line from '86 on.
     
  25. sualpine macrumors 6502

    sualpine

    Joined:
    May 13, 2013
    #25
    You didn't read it. People born in 1986. It's kind of hard to know the upward mobility of someone that's not a worker yet.
     

Share This Page