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Most inequality in the UK is because rich people are getting much richer. But the poor people aren't getting poorer, they're getting richer too. Standard of liv
by PlzSnow 11y ago
Most inequality in the UK is because rich people are getting much richer. But the poor people aren't getting poorer, they're getting richer too. Standard of living for poor people has increased hugely over the last 50 years.
- dharma1 11y agoThat may be, but they still don't have money to invest
- beat 11y agoIn the US, the standard of living (adjusted for inflation) has been dead flat or even negative for the bottom 95% or so, since 1980. Slightly over 100% of all economic growth for the past 35 years has gone in the pockets of the wealthiest few. Speaking of market distortion... And this was not true for the century or so leading up to 1980, particularly the post-WWII boom. This points to something fundamentally wrong with the economy. It's worrisome to me, because I fear the US economy having a Soviet-style collapse, a fundamental breakdown. Not a critique of the article, which was basically a bunch of self-congratulatory masturbation for the rich, but a point about how inequality is currently growing right now in the US.
- randomsearch 11y ago> But the poor people aren't getting poorer, they're getting richer too I'm not sure about the last fifty years, but I was referring to the last 30. Certainly in recent times, absolute poverty is greatly increasing. As more people have their welfare payments withdrawn, I think we can expect to see this increase to continue. In the UK we are dismantling the welfare state, which has resulted in over a million people using food banks annually. The poor are not getting richer.