Fat cats out of control: 1% owns 82% of wealth

[Daelak]

It's sad how easily duped people are these days, just look at all the posters in this thread trying to convince themselves that they belong to the 1%, as if having a moderately well-paying job somehow puts them on the same level as the Koch brothers.

Exactly, they have been deluded for decades, since the CRA and VRA, conservative think tanks and foundations have been pumping their parents and now our generation with manufactured bullshit designed to keep them down, and even defend them, for fucking free. They are this generation's slave foreman, thinking that they will be protected by them when political and economic destabilization becomes a reality due to climate change and GDP contraction.

[Stormspark]

Bill Gates popularised computation for the entire world. That means he definitly deserves his money.
Now, does he actually need the money? Probably not. But you could also hope that he uses the money to bring the next big thing to the table.

Gates marketed products that other people made. What do the people that actually MADE those products get? Next to nothing.

I'm not saying he deserves nothing, he did play a role (even if it was just a business/marketing one). But as much as he has? No.

[Regalia]

Sadly, a lot of people who don't have the new iPhone X 3 days after it came out, because they had to pay their bills, forget that they have such an insanely high living standard compared to the rest of the world, but its not good enough.

So you want us to have the same Standards as third world countries? You want us to turn into China where there's cancer causing pollution in certain areas?

[igualitarist]

In Cuba and North Korea, 0,1% owns the wealth of 99,9%

That's equality

[Deleted]

Whats wrong with that? Do you want to steal from people because they are successful?

[Regalia]

Whats wrong with that? Do you want to steal from people because they are successful?

Raising Minimum Wage is considered stealing now?

[Krigaren]

trickle down economics would work, in an environment that encourages business to exist.

Businesses existing outside of a demand for their products or services does not an economy make. That's how we end up with protectionist policies that keep businesses alive when they should have failed. This is what China does, and it's starting to catch up to them. Trickle down is failure policy.

[Regalia]

Businesses existing outside of a demand for their products or services does not an economy make. That's how we end up with protectionist policies that keep businesses alive when they should have failed. This is what China does, and it's starting to catch up to them. Trickle down is failure policy.

Exactly, Trickle down won't work, Hard Line capitalism shows the wealth gap will get worse if nothing gets done.

[Macaquerie]

So you want us to have the same Standards as third world countries? You want us to turn into China where there's cancer causing pollution in certain areas?

To be fair, the main reason China has such a big problem with air quality is that when all of the manufacturing sector packed up and moved there, the pollution went along with it. Ultimately it's American demand for cheap plastic junk that's responsible for that, if China were to implement tougher environmental regulations the jobs would simply somewhere with even lower standards, and the toxic air along with it.

[igualitarist]

Raising Minimum Wage is considered stealing now?

Have a too high minimum wage and you are kicking the youth, the inexperienced and the uneducated people out of the labor market, increasing the gap.

If you can't produce more than your wage, you are unemployed.

No wonder why many countries from Europe have such a huge massive unemployment rate among the youth.

[Deleted]

Raising Minimum Wage is considered stealing now?

Actually, Yes. That money has to come from somewhere. (Employers). You have a contract signed by both sides. If its bad contract, you should not have signed. I don't like government telling anyone how to get paid for work.

[Krigaren]

Everyone agrees that the income gap needs addressed, but I am yet to see a solution that doesn't border on government thievery. The issue with the taxes is when you raise them too high, it also hurts those working for the 1%. No simple answer to such a complex problem.

You say government thievery, when you should be more concerned about the thievery of CEOs and the 1% who are hoarding all of the cash away from the rest of the 99%.

Also, the 1%'s personal income isn't tied to their businesses. The whole notion of giving the wealthy more money in order to "create jobs" is a myth on it's face, given that the 1% do not personally pay the wages of their business's employees. The businesses that they own or run do, and those are completely separate entities. The only relationship the two have is that the more money a business makes, the richer the 1% becomes, but not the other way around.

[Regalia]

Actually, Yes. That money has to come from somewhere. (Employers). You have a contract signed by both sides. If its bad contract, you should not have signed. I don't like government telling anyone how to and how to get paid for work.

Nope, that's not stealing. Rules and Regulations is something the country agrees to collectively as a society. Minimum Wage rules are not stealing.

[AeneasBK]

My point is, that 32k per year cannot be in 1% of the rich, if there's more than 76 million individuals who make above 32k per year. I can guarantee you there's more than that.

Some googling says that in America only, there's more than 61 million workers above 40k per year wage. What about the missing 15 million workers above 32k? More than likely the ones in 32-40k range, but if not, you'll probably find the rest needed in just UK or Germany, and there we're over the cap in just 2 countries, not including any of the rest.

Sorry my brain might have been in "recently woken up mode" but I was thinking £32k which is about $44k still wrong but by not as much. I would have thought somebody earning £32k in the UK could just about be sitting in the worlds top 1% but looks like I'm out by a few thousand

[hakujinbakasama]

I love the philosophy behind the outrage in all of its oozing bullshit.

Lots of do nothing's bitching about how those who do and are more productive have greater rewards.

What's adult onset temper tantrums like to live with?

[Regalia]

Have a too high minimum wage and you are kicking the youth, the inexperienced and the uneducated people out of the labor market.

Because people are greedy, most corporations already think the Minimum Wage should not increase when it has Stagnated Constantly.

If you can't produce more than your wage, you are unemployed.

Depends on Quotas

No wonder why many countries from Europe have such a huge massive unemployed rate among the youth.

Wrong.

[Deleted]

Nope, that's not stealing. Rules and Regulations is something the country agrees to collectively as a society. Minimum Wage rules are not stealing.

No, Regulations are leftist and socialist bullcraps and the reason for defending its stupid existence which doesn't even work in theory.

[Macaquerie]

Actually, Yes. That money has to come from somewhere. (Employers). You have a contract signed by both sides. If its bad contract, you should not have signed. I don't like government telling anyone how to get paid for work.

The money doesn't come from employers, it comes from the consumers who buy the products that the workers are making. The company itself is really just a middleman that dictates both prices and wages, and skims a considerable amount off the top, often protected by laws that shelter it from competitors trying to do the same.

[h4rr0d]

Capitalism works fine, I hear.

Capitalism would be fine-ish if it wasn't for the fact that corporations are allowed to get 'too big to fail' which results in governments then sanitizing them with public money when they do manage to fail somehow. I think a LOT more personal and material responsibility for the top management would go a long way.

As it is right now, if a company tanks thanks to bad executive decisions, you have a lot of low-middle class people out of their jobs, while the executives can easily live off of the money they gave themselves while tanking the company. What should happen instead is, the executives getting all their wealth acquired during their time in the company confiscated and redistributed among those that are affected by the fail the most.

[Regalia]

No, Regulations are leftist and socialist bullcraps and the reason for defending its stupid existence which doesn't even work in theory.

Again, it works.