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U.S. Wealth Inequality [video]

22 points by Rinzler89 2y ago

ephemeral-life 2y ago
If this is the what the richest economy in the world looks like, imagine the rest of the world.
- t-writescode 2y ago
  Well, the United States ranks 23rd in happiness, so I imagine many of them are quite a bit happier overall! https://worldhappiness.report/ed/2024/happiness-of-the-younger-the-older-and-those-in-between/#ranking-of-happiness-2021-2023 https://worldhappiness.report/ed/2024/happiness-of-the-young...
  - deleted 2y ago
    [deleted]
- solardev 2y ago
  Maybe they are more equally poor? Anyone wanna chart that as per capita GDP vs Gini index, as a loose approximation?
slwvx 2y ago
I think a version of this video that used a semilog plot [1] for wealth, included specific suggestions for how to overcome economic inequality (like [2]), and skipped the snarky tone would be useful. I am all for reducing economic inequality, but found this video annoying and not useful. [1] https://en.wikipedia.org/wiki/Semi-log_plot https://en.wikipedia.org/wiki/Semi-log_plot [2] https://taxjusticenow.org/ https://taxjusticenow.org/
matt-attack 2y ago
Isn’t this shape just the inevitable outcome of the more sane distribution from 50 years ago if you simply add time + compound interest? Wouldn’t it be more surprising if wealth didn’t grow faster based on how much wealth you already have?
c22 2y ago
My solution: Every year we identify the wealthiest individual and liquidate their assets to redistribute through UBI. To be honest, they likely have the network and skill set to immediately bounce back and this policy only impacts a single individual every year. Plus it makes being ultra wealthy a more interesting game, where you'd want your investments to do well, but not too well.
- telesilla 2y ago
  It's too easy to hide wealth so you'd need to choose some other metric such as private jet rides, then have some kind of lottery.
- solardev 2y ago
  We could just tax them more heavily like we did a few decades ago, when they were as high as 90%. Maybe draw a line where society can create millionaires and hundred millionaires but not billionaires.
- esbranson 2y ago
  As for the n+1, does the sequence stop? Does the same happen for the government and other organizations, or just natural persons? Are there other organizations besides the government you will exempt? After everything has been equalized, how much (about) will everyone have, and would that be enough to invest in something as simple as an ice cream machine?

22 points by Rinzler89 2y ago

ephemeral-life 2y ago

If this is the what the richest economy in the world looks like, imagine the rest of the world.

t-writescode 2y ago
Well, the United States ranks 23rd in happiness, so I imagine many of them are quite a bit happier overall! https://worldhappiness.report/ed/2024/happiness-of-the-younger-the-older-and-those-in-between/#ranking-of-happiness-2021-2023 https://worldhappiness.report/ed/2024/happiness-of-the-young...
- deleted 2y ago
  [deleted]
solardev 2y ago
Maybe they are more equally poor? Anyone wanna chart that as per capita GDP vs Gini index, as a loose approximation?

slwvx 2y ago

I think a version of this video that used a semilog plot [1] for wealth, included specific suggestions for how to overcome economic inequality (like [2]), and skipped the snarky tone would be useful. I am all for reducing economic inequality, but found this video annoying and not useful. [1] https://en.wikipedia.org/wiki/Semi-log_plot https://en.wikipedia.org/wiki/Semi-log_plot [2] https://taxjusticenow.org/ https://taxjusticenow.org/

matt-attack 2y ago

Isn’t this shape just the inevitable outcome of the more sane distribution from 50 years ago if you simply add time + compound interest? Wouldn’t it be more surprising if wealth didn’t grow faster based on how much wealth you already have?

c22 2y ago

My solution: Every year we identify the wealthiest individual and liquidate their assets to redistribute through UBI. To be honest, they likely have the network and skill set to immediately bounce back and this policy only impacts a single individual every year. Plus it makes being ultra wealthy a more interesting game, where you'd want your investments to do well, but not too well.

telesilla 2y ago
It's too easy to hide wealth so you'd need to choose some other metric such as private jet rides, then have some kind of lottery.
solardev 2y ago
We could just tax them more heavily like we did a few decades ago, when they were as high as 90%. Maybe draw a line where society can create millionaires and hundred millionaires but not billionaires.
esbranson 2y ago
As for the n+1, does the sequence stop? Does the same happen for the government and other organizations, or just natural persons? Are there other organizations besides the government you will exempt? After everything has been equalized, how much (about) will everyone have, and would that be enough to invest in something as simple as an ice cream machine?