3 ms·

Nearly every measure you can think of for standards of living, health, education, etc. is negatively affected by the increase of wealth inequality.

by bmitc 3y ago

BeetleB 3y ago
This is a generalism in response to a precise statement. It's a simple question: Has the wealth of the lowest 90% gone up or down? (And 90% is too coarse. Would be good to see it for every decile.)
- wyre 3y ago
  Wealth for the lower 90% has gone up but that is nearly meaningless when the cost of living has increased much greater than any of those wealth increases.
  - BeetleB 3y ago
    OK - new claim: > but that is nearly meaningless when the cost of living has increased much greater than any of those wealth increases. Can we show that for each decile?
- bmitc 3y ago
  Your "precise statement" was a manipulative statement, for which both the question and answer are meaningless. Just because you state a question does not mean you get to dictate the discussion. Growth of income is one thing, but the far more important thing is wealth inequality, and the U.S. has one of the worse in the world, especially for a developed nation. As wealth inequality goes up, more people die, more people suffer, etc. Here's the equivalent of your statement: If I throw a penny into a fountain at the mall, has the wealth of the fountain gone up or down? Here's more realistic and relevant discussions on the relative gross of the lower classes: * https://www.cbpp.org/research/a-guide-to-statistics-on-historical-trends-in-income-inequality https://www.cbpp.org/research/a-guide-to-statistics-on-histo... * https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/ https://www.pewresearch.org/short-reads/2022/04/20/how-the-a... * https://www.census.gov/library/stories/2022/09/income-inequality-increased.html https://www.census.gov/library/stories/2022/09/income-inequa...

Nearly every measure you can think of for standards of living, health, education, etc. is negatively affected by the increase of wealth inequality.

by bmitc 3y ago

Nearly every measure you can think of for standards of living, health, education, etc. is negatively affected by the increase of wealth inequality.

BeetleB 3y ago

This is a generalism in response to a precise statement. It's a simple question: Has the wealth of the lowest 90% gone up or down? (And 90% is too coarse. Would be good to see it for every decile.)

wyre 3y ago
Wealth for the lower 90% has gone up but that is nearly meaningless when the cost of living has increased much greater than any of those wealth increases.
- BeetleB 3y ago
  OK - new claim: > but that is nearly meaningless when the cost of living has increased much greater than any of those wealth increases. Can we show that for each decile?
bmitc 3y ago
Your "precise statement" was a manipulative statement, for which both the question and answer are meaningless. Just because you state a question does not mean you get to dictate the discussion. Growth of income is one thing, but the far more important thing is wealth inequality, and the U.S. has one of the worse in the world, especially for a developed nation. As wealth inequality goes up, more people die, more people suffer, etc. Here's the equivalent of your statement: If I throw a penny into a fountain at the mall, has the wealth of the fountain gone up or down? Here's more realistic and relevant discussions on the relative gross of the lower classes: * https://www.cbpp.org/research/a-guide-to-statistics-on-historical-trends-in-income-inequality https://www.cbpp.org/research/a-guide-to-statistics-on-histo... * https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/ https://www.pewresearch.org/short-reads/2022/04/20/how-the-a... * https://www.census.gov/library/stories/2022/09/income-inequality-increased.html https://www.census.gov/library/stories/2022/09/income-inequa...