Top 20% doing very well
jeff744 @ Thu Jul 14, 2011 2:02 pm
Are those numbers adjusted for inflation?
Bruce_the_vii @ Thu Jul 14, 2011 2:29 pm
Adjusted for inflation? This is Main Stream Media reporting. They somehow think that people that read their articles won't actually be interested in the article, the actual real numbers.
bootlegga @ Thu Jul 14, 2011 3:26 pm
andyt andyt:
Paying taxes is only part of it. Do you really want a system where all the growth in wealth goes to the top 20% but then we bleed them for some taxes to give to the 80%? We need to find our way back to what we had - less income inequality in the first place. Only way to create society we all want to live in.
All the wealth doesn't go to the rich though (as you imply). Middle class people still acquire wealth too - they buy and own homes, vehicles, go on vacations, educate their kids, save for retirement, etc.
I agree with you that we need to elevate those at the bottom end of the scale, we just differ on how to accomplish that task.
You appear to prefer giving them handouts (through increased minimum wages) and I prefer to make them self-sufficient by giving them better livelihoods (through education/training). Like I said before - "give a man a fish, feed him for a day, teach him to fish, feed him forever".
The bonus with more people earning better livelihoods is that they pay more taxes, which in turn increases our ability to pay for everything people want from government.