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How has anybody been "robbed"? Per capita income has gone up for everyone, yes the top has gone up faster but at the end of the day the lower tiers still have i

How has anybody been "robbed"? Per capita income has gone up for everyone, yes the top has gone up faster but at the end of the day the lower tiers still have increased in wealth. Honestly I don't understand how you come to your conclusion.

gonvaled 8y ago
Prices have gone up faster. We consume junk, continuosly. "robbed" because voters accepted capital concentration by accepting that it would trickle down, which is a lie.
- adventured 8y ago
  It's not a lie. The US welfare state has massively expanded since 1980. The percentage share of GDP transferring via welfare state policies has doubled in 20x years. Both poverty and homelessness are near 50 year lows. Healthcare coverage is near an all-time high, thanks in part to the vast expansion of the welfare state. All of that is being paid for by the rich. The US has one of the most progressive taxation systems in the developed world. The US middle class is among the least taxed of any middle class in the developed world, which is also why the US median disposable income is among the highest. If you go back to 1980, the inflation adjusted per capita income transfer going to welfare policies, was close to $3,500. Today it's near $9,000. That's a dramatic expansion of the social safety net in the US, and it has had very tangible, very dramatic positive results (including a large reduction in homelessness).
eppsilon 8y ago
Inflation adjusted per capita median income was about the same in 2016 as it was in 2000. The last significant increase was in the 90s. Income shares of the top 1% and top 0.1% have doubled and tripled respectively since 1980. Maybe calling it robbery is hyperbole, but it certainly doesn't seem fair.
ionised 8y ago
So the poor can now have smartphones and financed cars but their education and healthcare is prohibitively expensive and they have no chance of owning a home. All the while those GDP increases have gone to fewer and fewer people. I'm sure they'll feel reassured when you tell them GDP per capita has gone up. It's not about the poor being a bit better off with things like luxuries. It's about their piece of the overall wealth and stake in the economy gradually shrinking.
- ianai 8y ago
  Anecdote, companies received bailouts during the financial crisis for being “too big to fail.” Meanwhile, people and families were kicked out of their homes and forced into bankruptcy. Companies rebounded and increased profits long ago. Meanwhile, workers didn’t see a wage increase until very recently (last 3-6 months or so - IIRC). And the increase for people was not very large.

gonvaled 8y ago

Prices have gone up faster. We consume junk, continuosly. "robbed" because voters accepted capital concentration by accepting that it would trickle down, which is a lie.

adventured 8y ago
It's not a lie. The US welfare state has massively expanded since 1980. The percentage share of GDP transferring via welfare state policies has doubled in 20x years. Both poverty and homelessness are near 50 year lows. Healthcare coverage is near an all-time high, thanks in part to the vast expansion of the welfare state. All of that is being paid for by the rich. The US has one of the most progressive taxation systems in the developed world. The US middle class is among the least taxed of any middle class in the developed world, which is also why the US median disposable income is among the highest. If you go back to 1980, the inflation adjusted per capita income transfer going to welfare policies, was close to $3,500. Today it's near $9,000. That's a dramatic expansion of the social safety net in the US, and it has had very tangible, very dramatic positive results (including a large reduction in homelessness).

eppsilon 8y ago

Inflation adjusted per capita median income was about the same in 2016 as it was in 2000. The last significant increase was in the 90s. Income shares of the top 1% and top 0.1% have doubled and tripled respectively since 1980. Maybe calling it robbery is hyperbole, but it certainly doesn't seem fair.

ionised 8y ago

So the poor can now have smartphones and financed cars but their education and healthcare is prohibitively expensive and they have no chance of owning a home. All the while those GDP increases have gone to fewer and fewer people. I'm sure they'll feel reassured when you tell them GDP per capita has gone up. It's not about the poor being a bit better off with things like luxuries. It's about their piece of the overall wealth and stake in the economy gradually shrinking.

ianai 8y ago
Anecdote, companies received bailouts during the financial crisis for being “too big to fail.” Meanwhile, people and families were kicked out of their homes and forced into bankruptcy. Companies rebounded and increased profits long ago. Meanwhile, workers didn’t see a wage increase until very recently (last 3-6 months or so - IIRC). And the increase for people was not very large.