RAND study uncovers massive income shift to the top 1% - Politics Forum.org | PoFo

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#15120733
Source

Just how far has the working class been left behind by the winner-take-all economy? A new analysis by the RAND Corporation examines what rising inequality has cost Americans in lost income—and the results are stunning.

A full-time worker whose taxable income is at the median—with half the population making more and half making less—now pulls in about $50,000 a year. Yet had the fruits of the nation’s economic output been shared over the past 45 years as broadly as they were from the end of World War II until the early 1970s, that worker would instead be making $92,000 to $102,000. (The exact figures vary slightly depending on how inflation is calculated.)

The findings, which land amid a global pandemic, help to illuminate the paradoxes of an economy in which so-called essential workers are struggling to make ends meet while the rich keep getting richer.

“We were shocked by the numbers,” says Nick Hanauer, a venture capitalist who came up with the idea for the research along with David Rolf, founder of Local 775 of the Service Employees International Union and president of the Fair Work Center in Seattle. “It explains almost everything. It explains why people are so pissed off. It explains why they are so economically precarious.”


Yet some will still look at this and somehow manage to claim Trump is doing great things for working people.
#15120741
KurtFF8 wrote:Yet some will still look at this and somehow manage to claim Trump is doing great things for working people.


He is. He made the elitist establishment totally meltdown. He destroyed the credibility of most of the major elitist institutions with tens of millions of people. He may not be helping with wealth distribution but he has done irreparable damage to the system that was designed by elitists to disempower, disenfranchise, and just royally fuck over working people.
#15120742
No surprises, I'm very sure I said this would be the case like way back in March when the first lock downs started to go into effect in the US.

In EVERY SINGLE crisis that has ever happened, the inequality gap increases. It happened after the 2008 crisis, it happens after a hurricanes, it happens after flood, etc. etc. Disaster always widen the gap. The worse the disaster the bigger the gap is widened by. Rich people LOVE disasters.

This is why I think it's wrong to say we've recovered from say the 2008 recession. We really didn't, only the rich did. At some point, something will give, I'm sure.

EDIT:
Knowing this fact, I invested more money into my stock and retirement accounts. This is back when the S & P was dropping like a rock. It had since recovered, hence, I guess this means I got moved up too. :eek:... can't beat them, join them? :hmm: oh god, I sound like a horrible person now.
#15120745
Rancid wrote:No surprises, I'm very sure I said this would be the case like way back in March when the first lock downs start to into effect in the US.

In EVERY SINGLE crisis that has ever happened, the inequality gap increases. It happened after the 2008 crisis, it happens after a hurricanes, it happens after flood, etc. etc. Disaster always widen the gap. The worse the disaster the bigger the gap is widened by. Rich people LOVE disasters.

This is why I think it's wrong to say we've recovered from say the 2008 recession. We really didn't, only the rich did. At some point, something will give, I'm sure.

EDIT:
Knowing this fact, I invested more money into my stock and retirement accounts. This is back when the S & P was dropping like a rock. It had since recovered, hence, I guess this means I got moved up too. :eek:


It didn't happen in the Great Depression, though.
#15120751
KurtFF8 wrote:Source



Yet some will still look at this and somehow manage to claim Trump is doing great things for working people.



What should Trump have done differently? Your ilk wants society closed what did you expect?

Tell us what a Joe Biden presidency would have done differently to avoid this?

Ironic your ilk keeps voting down relief bills that would help the people you claim Trump is damaging.
#15120758
Sivad wrote:He is. He made the elitist establishment totally meltdown. He destroyed the credibility of most of the major elitist institutions with tens of millions of people. He may not be helping with wealth distribution but he has done irreparable damage to the system that was designed by elitists to disempower, disenfranchise, and just royally fuck over working people.


If you look at the actual material world, however, you'll see that it's a fact that the rich are benefiting at the expense of the working class.

I can't think of any policy of Trump's that's aimed at reversing this trend. I highly doubt you'd be able to list some concrete measures either.

It takes a whole lot of ideological acrobatics and boot licking to come to the conclusion that Trump "helps workers" in the face of these facts.
#15120759
Finfinder wrote:Tell us what a Joe Biden presidency would have done differently to avoid this?


What makes you think I think Joe Biden is so great?

Ironic your ilk keeps voting down relief bills that would help the people you claim Trump is damaging.


There are no Communists in Congress so I have no idea what you're talking about here.
#15120767
KurtFF8 wrote:What makes you think I think Joe Biden is so great?
There are no Communists in Congress so I have no idea what you're talking about here.


Answering a question with a question? I assume you have no answer for how Trump could have done things different to avoid this wealth transfer which was so obvious would happen when you quarantine the entire country for 7 months.

KurtFF8 wrote:What makes you think I think Joe Biden is so great?
There are no Communists in Congress so I have no idea what you're talking about here.


Bernie Sanders and the Squad to start with are commies but what does that have to do with you denying that the democrats have prevented additional Covid relief fund yet blaming Trump for the common persons financial woes?

Rancid wrote:You're either with Trump or against Trump god damn it!


Until you both tell me who a 3rd option is are you saying you are voting for Trump or are you just complaining and then plan to throw out your vote.
#15120769
KurtFF8 wrote:If you look at the actual material world, however, you'll see that it's a fact that the rich are benefiting at the expense of the working class.

I can't think of any policy of Trump's that's aimed at reversing this trend. I highly doubt you'd be able to list some concrete measures either.

It takes a whole lot of ideological acrobatics and boot licking to come to the conclusion that Trump "helps workers" in the face of these facts.


It's more of a 'my enemy's enemy' type deal with Trump. It's strange to me how all these commie kidz want the guy who's causing absolute chaos to lose and are rooting for the fucker that's gonna stabilize the system and restore the status quo. Maybe they're just simple minded nitwits who haven't figured out that the game being played here ain't checkers?
#15120773
Finfinder wrote:Answering a question with a question? I assume you have no answer for how Trump could have done things different to avoid this wealth transfer which was so obvious would happen when you quarantine the entire country for 7 months.


What you quoted wasn't a question. But yes sometimes answering a question with a question is how people communicate.

As for what could have done differently: there are many policies and actions. For example: reversing the large (unnecessary) tax cuts to the rich, more stimulus checks, guarantee health insurance for everyone, nationalization of certain companies to ensure they're producing what's needed, etc. etc.


Bernie Sanders and the Squad to start with are commies but what does that have to do with you denying that the democrats have prevented additional Covid relief fund yet blaming Trump for the common persons financial woes?


Not a single one of them is a Communist. While I think this narrative about the Democrats blocking everything is nothing more than a Fox News talking point: again I'm not here to defend the Democrats. The previous posted implied that they're "my ilk" which is laughable.

Until you both tell me who a 3rd option is are you saying you are voting for Trump or are you just complaining and then plan to throw out your vote.


There are other people on the ballot. But political movements aren't just about single Presidential elections. You're confusing lesser evils voting with overall support. I reject lesser evil voting, but some socialists and communists still engage in the practice.
#15120782
Finfinder wrote:What should Trump have done differently? Your ilk wants society closed what did you expect?

Tell us what a Joe Biden presidency would have done differently to avoid this?

Ironic your ilk keeps voting down relief bills that would help the people you claim Trump is damaging.



President Trump could give low paid workers health care and a rise in pay. Biden did both. The last pay rise was in July 2009 where the federal minimum wage was set at $7.25/hr. Coincidencely the stock market was approx 9000. Today it's 28000, over 3 times higher. Nowadays people can't make money from their bank accounts, they must say, buy property or invest. They can't do either.
#15120783
Rancid wrote:Which brings the question, can that happen again in the future? Where the wealth of the wealthy is impacted greatly?


Yes, of course it can. Although I suspect people would prefer this to happen through redistribution rather than differential destruction of wealth and income generation :hmm:
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