Auto-SummaryThe post discusses income inequality in the United States, highlighting that it has been increasing since the 1970s and is now among the highest in developed countries. The majority of economists believe income inequality is a problem and that redistribution is a legitimate role for government. Data shows that income inequality has widened between 1979 and 2005, with the top 1% experiencing a 176% increase in mean after-tax income compared to the top quintile (69%) and other quintiles. The post also mentions that many social scientists attribute rising inequality to public policy and that the U.S. has experienced the greatest increase in income inequality among rich nations. The text concludes by mentioning that income disparities within the top 1.5% of households are particularly drastic, with the top 0.01% earning significantly more than the rest of the top 1.5%.
i'm gonna bump this... just because..
this is for everyone who thinks we live in a fair economic society.
Brugman said: Wow, just wow. If you want to know what's wrong with the American dream, look at WhiskeyClone's posts.
WhiskeyClone said: If you don't have as much money as you think you deserve, it's probably your fault.
Quote: The majority of social scientists believe that income inequality currently poses a problem for American society with Alan Greenspan stating it to be a "very disturbing trend."[3][4]
Quote: A 2004 poll of 1,000 economists showed that the majority of economists favor "redistribution."[6] A study by the Southern Economic Journal found that "71 percent of American economists believe the distribution of income in the US should be more equal, and 81 percent feel that the redistribution of income is a legitimate role for government."[7]
Quote: Data from the United States Department of Commerce and Internal Revenue Service indicate that income inequality has been increasing since the 1970s,[8][9][10][11][12] whereas it had been declining during the mid 20th century.[13][14] As of 2006, the United States had one of the highest levels of income inequality, as measured through the Gini index, among high income countries, comparable to that of some middle income countries such as Russia or Turkey,[15] being one of only few developed countries where inequality has increased since 1980.[16]
Quote: As I've often said... this [increasing income inequality] is not the type of thing which a democratic society—a capitalist democratic society—can really accept without addressing. - Alan Greenspan, June 2005
Quote: The data revealed that reported income increased by 9% in 2005, with the mean for the top 1% increasing by 14% and that for the bottom 90% dropping slightly by 0.6%.[11]
Quote: Between 1979 and 2005, the mean after-tax income for the top 1% increased by 176%, compared to an increase of 69% for the top quintile overall, 20% for the fourth quintile, 21% for the middle quintile, 17% for the second quintile and 6% for the bottom quintile.
Quote: Economists Timothy Smeeding summed up the current trend of rising inequality on the pages of the Social Science Quarterly:[21]
Americans have the highest income inequality in the rich world and over the past 20–30 years Americans have also experienced the greatest increase in income inequality among rich nations. The more detailed the data we can use to observe this change, the more skewed the change appears to be... the majority of large gains are indeed at the top of the distribution.
Quote: ..many social scientists, such as economists Paul Krugman and Timothy Smeeding and political scientist Larry Bartels, point to public policy as the main cause of inequality. They point out that education cannot be the cause of the widening gap between the top 1% and everyone else, including well-educated professionals, and that the U.S. is unique in having experienced such a rise in inequality - a trend that, if caused by education, would have manifested itself in other developed nations.[23][24][21]
Quote: According to Gini coefficient data, income inequality in the U.S., already among the highest in the post-industrial world,[15] has risen considerably between 1967 and 2005 among households[39] and individuals.[40]
all quotes taken from: http://en.wikipedia.org/wiki/Income_inequality_in_the_United_States
you wanna see something even more Fucked up?

The wide income discrepancies within the top 1.5% of households [in the US].
Quote: Today there are approximately 146,000 (0.1%) households with incomes exceeding $1,500,000, while the top 0.01% or 11,000 households had incomes exceeding $5,500,000. The 400 highest tax payers in the nation had gross annual household incomes exceeding $87,000,000. Household incomes for this group have risen more dramatically than for any other. As a result the gap between those who make less than one and half million dollars annually (99.9% of households) and those who make more (0.1%) has been steadily increasing, prompting The New York Times to proclaim that the "Richest Are Leaving Even the Rich Far Behind." Indeed the income disparities within the top 1.5% are quite drastic. While households in the top 1.5% of households had incomes exceeding $250,000, 443% above the national median, their incomes were still 2200% lower than those of the top .01% of houseolds. One can therefore conclude that any household, even those with incomes of $250,000 annually are relatively poor when compared to the top .1%, who in turn are relatively poor compared to the top 0.000267%, the top 400 taxpaying households.[37]
taken from: http://en.wikipedia.org/wiki/Affluence_in_the_United_States#Extreme_affluence
can you say OMFG?!
i'm not that good at math so i'll let you put it into perspective.
Quote: Do the problems inherent in the US system justify shoplifting? Yes or no? If yes, how so?
i have another answer for this, theft without causation is unjust, however, stealing that which has been stolen from you (ex. money in the form of material goods) is justified, so, in this context, 2 wrongs do make a right, another example would be that if someone stole my wallet, i would be justified in stealing the wallet back.
-------------------- Everybody's a ninja...
Edited by SleepyF0x (11/11/08 05:03 PM)
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