Gap between middle class, working class, and upper income reaching record level

[Daelak]

Too many idiots claiming class wars here. Waste of my time.

Keep acting like the world is holding you down guys, it will get you real far.

Pew research is an idiot? How can a think tank be an idiot?

[Deleted]

Is it anything new?

The more money You have the more money You make through investments or bank savings or whatever.

Also You can lose more or earn more. Depends on luck/predictions/risk management/etc

On the other hand if you don't have money or spend almost everything You have (or you live by the debt), you're not accumulating money or even lose it in the long run(Your overall wealth is declining).

So the rich are richer by the time pass by and poor are poorer and the gap between them is increasing more and more.

[Daelak]

Fast, fast! Throw in some more socialism! It just might help... almost as much as much as trying to extinguish fire with... gasoline...

Better yet, let's not do anything, because we all know, the more money that goes into the hands of a select few humans, that societies prosper!

[getupkid55]

Yea if only the middle and working classes bought assets like the smart motivated upper incomes they could be like them. I guess the upper incomes are superior.

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Just following your line of thought.

Nope, you have in your mind that rich people don't deserve what they have in all cases, and you're also acting like I am saying rich people are smarter and superior to the middle class. You're just making a huge stupid assumption that makes you look like an ass.

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Is it anything new?

The more money You have the more money You make through investments or bank savings or whatever.

Also You can lose more or earn more. Depends on luck/predictions/risk management/etc

On the other hand if you don't have money or spend almost everything You have (or you live by the debt), you're not accumulating money or even lose it in the long run(Your overall wealth is declining).

So the rich are richer by the time pass by and poor are poorer and the gap between them is increasing more and more.

Be careful using logic, you will get attacked by people who hate the rich and think the world is screwing them.

[Daerio]

So the rich are richer by the time pass by and poor are poorer and the gap between them is increasing more and more.

And you believe this is by pure coincidence, or natural law of some kind. Rather than deceitfully contrived tax code, put in place through funding provided by those it benefits.

[Daelak]

Nope, you have in your mind that rich people don't deserve what they have in all cases, and you're also acting like I am saying rich people are smarter and superior to the middle class. You're just making a huge stupid assumption that makes you look like an ass.

I never said anything of the sort. You are just making vague statements regarding purchasing assets, assets that cost more than what most working class people will make in a lifetime, but I guess you are right.

[getupkid55]

Pew research is an idiot? How can a think tank be an idiot?

Yup I clearly said Pew Research is an idiot. Clearly.

You must be a troll. No one can be this daft. My god.

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I never said anything of the sort. You are just making vague statements regarding purchasing assets, assets that cost more than what most working class people will make in a lifetime, but I guess you are right.

Assets come in crazy wide range of costs. I don't what comes to your mind when you think of the word 'asset'.

Infracted

[Daelak]

Yup I clearly said Pew Research is an idiot. Clearly.

You must be a troll. No one can be this daft. My god.

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Assets come in crazy wide range of costs. I don't what comes to your mind when you think of the word 'asset'.

A 1994 geo? I heard the ROIs on those domestic bad boys can make any poor into a smarter rich.

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Yup I clearly said Pew Research is an idiot. Clearly.

You must be a troll. No one can be this daft. My god.

you said idiots in this thread are claiming class war. No one has been saying class war, Pew Research put out the data.

[getupkid55]

A 1994 geo? I heard the ROIs on those domestic bad boys can make any poor into a smarter rich.

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you said idiots in this thread are claiming class war. No one has been saying class war, Pew Research put out the data.

Troll it is. You probably shouldn't bring up a discussion when you're just going to be an idiot.

[Daelak]

Troll it is. You probably shouldn't bring up a discussion when you're just going to be an idiot.

What assets can a working class person purchase in order to improve their wealth?

[zorkuus]

Middle class buys junk. Upper class buys assets that make them money. That's the big difference.

Buying junk keeps the economy going.

[Deleted]

Is it anything new?

The more money You have the more money You make through investments or bank savings or whatever.

Also You can lose more or earn more. Depends on luck/predictions/risk management/etc

On the other hand if you don't have money or spend almost everything You have (or you live by the debt), you're not accumulating money or even lose it in the long run(Your overall wealth is declining).

So the rich are richer by the time pass by and poor are poorer and the gap between them is increasing more and more.

False.

The rich are richer.

The poor are also richer.

The gap between the rich and the poor is increasing.

[Psilar]

Another inequality report showing the distortions that wealthy households create when they receive all the gains post recession.

Is it due to the wealthy being superior in intellect and motivation?
Is it due to the poor and middle class being spoiled with air conditioning and running water, possibly welfare lobsters?
Can the accretion of wealth into fewer and fewer hands lead to a more stable society and government?
Do you discredit this study because liberal?

Share your view.

http://www.pewresearch.org/fact-tank...middle-income/

The income gap is being made worse by loose monetary policy that promotes equity and real estate bubbles. The cheap money by our central bankers are promoting this gap. Our politicians need this cheap money to keep the national debt under control and to keep the welfare state going so they can keep buying votes. If you stop the welfare state, stop the cheap money, and stop punishing savers, then the average Joe would be much better off.

[Keristrasza]

It is bad for the economy, because the wealthiest are hoarding their gains, an amount that the wealthy cannot spend in one lifetime, let alone 10 generations.

This here exactly, there is no reason any one man should have so much money. People that hoard their money like that HURT the Economy, not help it. They only help themselves, and that is what makes them worse than what the OP calls "welfare lobsters." Look back at when Bill Clinton was in office, thanks to him we had a boom of the U.S. economy and the United States had a projected federal budget surplus for the first time since 1969. We were almost out of the deficit. He taxed the upper classes, people that have the money and SHOULD be taxed.

[Daelak]

The income gap is being made worse by loose monetary policy that promotes equity and real estate bubbles. The cheap money by our central bankers are promoting this gap. Our politicians need this cheap money to keep the national debt under control and to keep the welfare state going so they can keep buying votes. If you stop the welfare state, stop the cheap money, and stop punishing savers, then the average Joe would be much better off.

The welfare state is directed towards America's wealthy, not to the millions of working and middle class people aside from the mortgage interest deduction.

[petej0]

What assets can a working class person purchase in order to improve their wealth?

Generational wealth for starters can be a home. However due to the age of home refi, reverse mortgage and home used as ATM, parents dont have much to pass on to their kids. Then again, how many parents do you see own their homes by the time they retire or die? So each new generation of working class has to start at square one while the kids of wealthy families get a head start.

[Psilar]

False.

The rich are richer.

The poor are also richer.

The gap between the rich and the poor is increasing.

The poor are not richer standard of living is flat, and median family incomes are decreasing. In 1964 The minimum wage was $1.25. If you were paid in 5 1964 quarters, the melt value of that silver would be worth about $14 right now.

Look at incomes distributed among percentiles. Incomes are rarely this skewed. The good news is, with us moving so far from the norm and average...a reversion to the mean is likely in the coming decades.

[Thandrend]

We will likely to continue to do nothing about it, as we have for the past fifty or more years.

Do you mean since the beginning of civilization?

[Daerio]

Do you mean since the beginning of civilization?

I think we've had a few economic reforms since then.

[Thandrend]

This here exactly, there is no reason any one man should have so much money. People that hoard their money like that HURT the Economy, not help it. They only help themselves, and that is what makes them worse than what the OP calls "welfare lobsters." Look back at when Bill Clinton was in office, thanks to him we had a boom of the U.S. economy and the United States had a projected federal budget surplus for the first time since 1969. We were almost out of the deficit. He taxed the upper classes, people that have the money and SHOULD be taxed.

Depends on if they're hoarding it or not. If they aren't (which they shouldn't) they shouldn't be taxed. If they want to sit on it and make capital gains from sleazy investments, then sure, tax them their gains.

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I think we've had a few economic reforms since then.

The basis of human civilization is that not everybody is going to be as well off as the top tier. That's just how it goes. That's how it's been since Ancient Sumeria. That's how it will be until the end of the Terran empire.