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Very Hot Topic (More than 25 Replies) Putting Income Inequality in Perspective (Read 6,838 times)
TowardLiberty
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Putting Income Inequality in Perspective
Nov 14th, 2015 at 10:14am
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It's reality check time. You're part of the global 1%.

"Globally, both poverty and inequality are falling"

by CHELSEA GERMAN
MARIAN L. TUPY

Quote:
Debates about income inequality, “the top one percent,” and poverty typically examine those issues within the context of a single country.

But consider a global perspective. This web tool lets you find out which income percentile you belong to relative to all the other people in the world. If you make more than $32,400 per year, you are in the top 1 percent of the richest people in the world!

And bear in mind that the world is more prosperous than it has ever been in the past. Compared to you, the vast majority of people who have lived on this planet were desperately poor.

Poverty, as Cato’s David Boaz put it in this online lecture, used to be ubiquitous: “Why are some people poor? That’s always the wrong question. The question is why are some people rich? Poverty is the natural condition of mankind, but it’s easy to forget that.”

Fortunately, prosperity is rising and global inequality is falling. Even as world population has exploded, the number of people living in poverty has fallen. As a result of spreading prosperity, infant mortality, illiteracy, and malnutrition are in decline, and people are living longer. Extreme poverty’s end is in sight.


http://fee.org/anythingpeaceful/putting-income-inequality-in-perspective/

Something to consider when you hear critics of capitalism rail that markets create inequality...

It's actually the opposite- markets, global trade and competition reduce inequality and poverty. They have given us a standard of living that was impossible, and indeed unthinkable, 200 years ago, 100 years ago. Hell, even 50 years ago.
  

Open Trade, Open Borders, Taco Trucks on Every Corner

"It was the union of the anticapitalist forces of the Right and of the Left, the fusion of radical and conservative socialism, which drove out from Germany everything that was liberal.” F A Hayek
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ShunningHarrietsShun LOL
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Re: Putting Income Inequality in Perspective
Reply #1 - Nov 14th, 2015 at 10:46am
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TowardLiberty wrote on Nov 14th, 2015 at 10:14am:
It's reality check time. You're part of the global 1%.

"Globally, both poverty and inequality are falling"

by CHELSEA GERMAN
MARIAN L. TUPY


http://fee.org/anythingpeaceful/putting-income-inequality-in-perspective/

Something to consider when you hear critics of capitalism rail that markets create inequality...

It's actually the opposite- markets, global trade and competition reduce inequality and poverty. They have given us a standard of living that was impossible, and indeed unthinkable, 200 years ago, 100 years ago. Hell, even 50 years ago.


More of your fantasy world. 50, 100, 200, years ago the wealthy in the US paid from a 70% tax rate to all taxes paid. And it was not global trade that increased the wealth of the nation. It was the hard work of individuals. Globalism has increased the poverty in the US:

http://www.globalpost.com/special-reports/global-income-inequality-great-divide-...

The Great Divide: Global income inequality and its cost

Income inequality is surging, and there are few countries where it is rising faster than the United States. The distance between rich and poor is greater in America than nearly all other developed countries, making the US a leader in a trend that economists warn has dire consequences. This is a reporting journey to get at the ‘ground truth’ of inequality through the lenses of education, race, immigration, health care, government, labor and natural resources. The hope is to hold a mirror up to the US to see how it compares to countries around the world. Presented by The GroundTruth Project and produced with support from the Ford Foundation.

http://www.pewresearch.org/fact-tank/2013/12/19/global-inequality-how-the-u-s-co...
  
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Return of the Clyde
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Re: Putting Income Inequality in Perspective
Reply #2 - Nov 14th, 2015 at 10:50am
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TowardLiberty wrote on Nov 14th, 2015 at 10:14am:
It's reality check time. You're part of the global 1%.

"Globally, both poverty and inequality are falling"

by CHELSEA GERMAN
MARIAN L. TUPY


http://fee.org/anythingpeaceful/putting-income-inequality-in-perspective/

Something to consider when you hear critics of capitalism rail that markets create inequality...

It's actually the opposite- markets, global trade and competition reduce inequality and poverty. They have given us a standard of living that was impossible, and indeed unthinkable, 200 years ago, 100 years ago. Hell, even 50 years ago.


When the focus of capitalism was the enrichment of the working,
middle classes, then almost everyone prospered. Once the top 1%
became too greedy (again), and began to buy back the government
and then de-regulate themselves and the marketplace, the end was near.

Regulated capitalism is fine. Unfettered, it is a disaster.
  

Long live rcclydeinside.
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Lomelis
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Re: Putting Income Inequality in Perspective
Reply #3 - Nov 14th, 2015 at 10:51am
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Quote:
[quote]More of your fantasy world. 50, 100, 200, years ago the wealthy in the US paid from a 70% tax rate to all taxes paid. And it was not global trade that increased the wealth of the nation. It was the hard work of individuals. Globalism has increased the poverty in the US:


Did it sail over your head that his op was talking about global poverty, not poverty focused on the US? 

Quote:
http://www.globalpost.com/special-reports/global-income-inequality-great-divide-...

The Great Divide: Global income inequality and its cost

Income inequality is surging, and there are few countries where it is rising faster than the United States. The distance between rich and poor is greater in America than nearly all other developed countries, making the US a leader in a trend that economists warn has dire consequences. This is a reporting journey to get at the ‘ground truth’ of inequality through the lenses of education, race, immigration, health care, government, labor and natural resources. The hope is to hold a mirror up to the US to see how it compares to countries around the world. Presented by The GroundTruth Project and produced with support from the Ford Foundation.

http://www.pewresearch.org/fact-tank/2013/12/19/global-inequality-how-the-u-s-co...


Irrelevant.  Nothing there disputes anything discussed in the op.
  

Ignorant Blessings from Wads:

Wadsworth wrote on Feb 19th, 2019 at 9:18am:
Regulations are designed to protect the consumer and the worker.  If it doesn’t,it is not a regulation.



"Watched it.  A shotgun is for long ranged shooting.  That is why hunters like them.  An AR-15 is not.  That video was misleading.
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Lomelis
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Re: Putting Income Inequality in Perspective
Reply #4 - Nov 14th, 2015 at 10:53am
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Return of the Clyde wrote on Nov 14th, 2015 at 10:50am:
When the focus of capitalism was the enrichment of the working,
middle classes, then almost everyone prospered. Once the top 1%
became too greedy (again), and began to buy back the government
and then de-regulate themselves and the marketplace, the end was near.

Regulated capitalism is fine. Unfettered, it is a disaster.



How can we be deregulating when the number of regulations never decrease but always increase?

There are thousands of new regulations every year.

  

Ignorant Blessings from Wads:

Wadsworth wrote on Feb 19th, 2019 at 9:18am:
Regulations are designed to protect the consumer and the worker.  If it doesn’t,it is not a regulation.



"Watched it.  A shotgun is for long ranged shooting.  That is why hunters like them.  An AR-15 is not.  That video was misleading.
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Shunning Sue Harry
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Re: Putting Income Inequality in Perspective
Reply #5 - Nov 14th, 2015 at 10:57am
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Return of the Clyde wrote on Nov 14th, 2015 at 10:50am:
When the focus of capitalism was the enrichment of the working,
middle classes, then almost everyone prospered. Once the top 1%
became too greedy (again), and began to buy back the government
and then de-regulate themselves and the marketplace, the end was near.

Regulated capitalism is fine. Unfettered, it is a disaster.


Capitalism is a derogatory term coined by Karl Marx. The free market has no focus.
  
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Return of the Clyde
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Re: Putting Income Inequality in Perspective
Reply #6 - Nov 14th, 2015 at 10:58am
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Lomelis wrote on Nov 14th, 2015 at 10:53am:
How can we be deregulating when the number of regulations never decrease but always increase?

There are thousands of new regulations every year.



Not all regulations are created equal.
In fact, many of them are de-regulation
posing as re-regulation. You must know that.
  

Long live rcclydeinside.
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Return of the Clyde
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Re: Putting Income Inequality in Perspective
Reply #7 - Nov 14th, 2015 at 11:00am
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Quote:
Capitalism is a derogatory term coined by Karl Marx. The free market has no focus.


Yes, God bless him. It was and remains an apt descriptor.
  

Long live rcclydeinside.
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Lomelis
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Re: Putting Income Inequality in Perspective
Reply #8 - Nov 14th, 2015 at 11:07am
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Return of the Clyde wrote on Nov 14th, 2015 at 10:58am:
Not all regulations are created equal.
In fact, many of them are de-regulation
posing as re-regulation. You must know that.


Lol.  These aren't laws being passed deregulating anything.  Like I said, thousands of -new- regulations every year.
  

Ignorant Blessings from Wads:

Wadsworth wrote on Feb 19th, 2019 at 9:18am:
Regulations are designed to protect the consumer and the worker.  If it doesn’t,it is not a regulation.



"Watched it.  A shotgun is for long ranged shooting.  That is why hunters like them.  An AR-15 is not.  That video was misleading.
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Shunning Sue Harry
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Re: Putting Income Inequality in Perspective
Reply #9 - Nov 14th, 2015 at 11:10am
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Return of the Clyde wrote on Nov 14th, 2015 at 11:00am:
Yes, God bless him. It was and remains an apt descriptor.


You ignored my second sentence. The free market has no focus. The problem in the free market stems from the restrictions placed on it by our all-knowing government. Restrictions to free trade restrict that trade to those that can afford to overcome the restrictions. This places a burden on small business and favors big business. Big business has the riches to influence government policy. Government feeds those that feed government. It's like a snake swallowing its own tail... a continuous loop.
  
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