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Thread: Is U.S. Capitalism On The Brink Of Collapse?

  1. #141
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    Me too!

  2. #142
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    According to the Global Wealth Report of 2015 this country has the largest wealth inequality gap of 200 countries. The top 1% has so much more money than even the top 5 or 10%. Past generations had a good chance of out earning their parents. People born in the 1980’s only have a 40% chance of doing so.

  3. #143
    Simpleton Alan's Avatar
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    Quote Originally Posted by Teacher Terry View Post
    According to the Global Wealth Report of 2015 this country has the largest wealth inequality gap of 200 countries. The top 1% has so much more money than even the top 5 or 10%.
    Are you concerned that the pool of money is static and that every dollar one person earns is a dollar that is removed from the pool for others? If not, what impact does one person having more money than another have on everyone else?
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  4. #144
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    A functional society needs a strong middle class. As I have mentioned before when CEO’s now make 400’s the workers when it used to be 25x’s the workers are being paid less so the people at the top can be richer. Even professional people are drowning financially. For example more colleges are hiring adjunct professors at low wages instead of full time positions with benefits.

  5. #145
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    Quote Originally Posted by Teacher Terry View Post
    A functional society needs a strong middle class. As I have mentioned before when CEO’s now make 400’s the workers when it used to be 25x’s the workers are being paid less so the people at the top can be richer.
    Is that in cash compensation or some sort of deferred compensation such as stock options? But either way, what does CEO compensation have to do with employee compensation?
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  6. #146
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    Because employees used to be paid a living fair wage. Now the worker money is flowing to the CEO’s.

  7. #147
    Simpleton Alan's Avatar
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    Quote Originally Posted by Teacher Terry View Post
    Because employees used to be paid a living fair wage. Now the worker money is flowing to the CEO’s.
    I don't think it works that way.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  8. #148
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    Alan, surely you've seen the charts that show how since the 70's the top 1%'s income has gone straight up, people in the middle have at best stayed flat and people on the lower economic rungs have gone down. So sure, the pool of money has gotten significantly bigger, but all that excess has gone to the super wealthy. I'm not looking at one now but suspect the only time that wasn't the case was 2008, when George Bush famously had to destroy the free market to save it because, of course, when rich people are suffering someone has to "do something!" But I'm sure if you add in the 8 years after 2008 the top 1% are right back to where they were before the crash.

  9. #149
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    Quote Originally Posted by Teacher Terry View Post
    Past generations had a good chance of out earning their parents. People born in the 1980’s only have a 40% chance of doing so.
    It's unrealistic to expect each generation will have a higher standard of living, especially given that our economic system for some time now has been the beneficiary of cheap fossil fuels and other natural resources (such as water in aquifers, good topsoil) that will become scarcer and more expensive with time. History is cyclical, boom and bust, not a straight line up.

    People need to lower their expectations and adjust their lifestyles to be more like those of their ancestors, recent immigrants, or people in other parts of the world who are our competition now.

  10. #150
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    Quote Originally Posted by jp1 View Post
    Alan, surely you've seen the charts that show how since the 70's the top 1%'s income has gone straight up, people in the middle have at best stayed flat and people on the lower economic rungs have gone down.
    Yes I've seen charts, although I'm sketchy on the relationship you guys imply. I suspect the inflated incomes you talk about are predominately deferred compensation in the form of stock and I'm not sure how anyone can say that executive compensation comes out of the pockets of non-executives.

    I've only ever had two jobs outside of the military and both of those were in publicly traded companies with very high CEO compensation and I've never experienced the results you and TT are promoting. I believe if those two CEO's had been forced to work for free, it would have had no impact on the rest of us.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

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