Wealth Inequality in America

Video is from 2012, it has gotten worse since

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Picture of RobertTusk20 achievements

+3 1. RobertTusk commented 339 days ago

That was 8 years ago. It has gotten much worse since then.
Trump printed $1.5 trillion out of thin air for his tax cuts.
Most of that went on tax cuts for corporations.
What did they do with this new-found pile of cash?
They bought back their own stock swelling the NASDAQ.
And who benefited? The wealthy who own the stock - all of Trump's billionaire friends.
The savings rate in the U.S. was 8.8% in 2012.
It fell to 6.5% by March 2019.
55 million Americans have no savings (2019 figure),
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+4 2. Judge-Jake commented 339 days ago

It's appalling when you think about it, it could make you really angry if you thought about it too much. Absolute greed by the few, what do they think they are ever going to do with that amount of wealth. There are only so many homes you can live in, so many cars you can drive, only so many hours in the day and only so many days in a life time. :(
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+1 3. seldomseen77 commented 339 days ago

Socialism does not advocate for everybody to have the same amount of wealth. If you believe that, then you have already been mislead by the American elites and media companies.

Socialism advocates for the workers owning the means of production. This means that companies are not owned and controlled by a rich board of investors who actually do no tangible work. Company ownership and control is spread between each individual worker.

This ensures for instance that your company will never ship your jobs oversees because, well, that would mean that you have decided yourself to ship your own job oversees, which you will never do.

However, companies still compete with each other on a free marketplace, so some do better than others, and hence their workers are wealthier than workers from other companies.

This system brings democracy in the workplace while ensuring there is still an economic incentive to work harder than your neighbor.
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+1 4. snotraddict commented 339 days ago

If a wizard offered to double your income, and the only catch is that it would quadruple the income of the super-rich, would you accept?
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-6 5. ducklife commented 338 days ago

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+3 6. Judge-Jake commented 338 days ago

ADMIN??? Just when are you going to get rid of FUCKLIFE aka DUCKLIFE from this site. All it does is posts this stupid message. I've heard in the pipeline that it hates Germans of you want another incentive.

#4 That would be fine because I would win twice in that catch lol :D
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+2 7. RobertTusk commented 338 days ago

The seeds were sown with Reaganomics and reinforced with Democrats Neo liberalism.
Give tax breaks to the rich and the wealth will trickle down.
It began when the Powell memo arrived in Reagan's desk in the Oval office.
The right wing think tank The Heritage Foundation got to work.
In time, it would spawn another 400 right wing think tanks all with the same goal - increasing corporate power.
(The US has 4% of the worlds population and 32% of the world's think tanks).
No single piece of legislation passed in the last 40 years has harmed US corporations.
Reagan diverting money from public education to the Pentagon (echoed by Trump) had terrible consequences for the next generations.
They figured they could patch it up by inventing the H1B visa whereby US corporations could scan the world stealing the best talent educated by other nations.


US Corporations plunder the ideas of the world's brightest students in “competitions”.
Intel's “Science and Engineering Fair” and Google's “Science Fair” are examples.
The Republicans are in hoc to the big corporations Oil, Ag, Pharma etc.
The Democrats are in hoc to Wall St and big Tech.
Traditionally, Land (or assets) returned rent, Labor returned wages and Capital returned profits.
This social contract was broken with Reaganomics.
The massive productivity gains over the last 40 years were not shared equally.
All of it went to the top (Capital) and real wages have been falling.
That, coupled with massive increases in education and health costs means that many Americans who otherwise would have considered themselves middle class find themselves impoverished.
This is what first drew Elizabeth Warren into politics.
She could not figure out why Americans were getting poorer every year.
One huge blow to US democracy was Clinton's 1995 telecommunications act.
The selling of US media to private corporations finished what was left of real journalism in the US.
There are real journalists and commentators who have pointed out the rot in the system.
People like Noam Chomsky, Chris Hedges, Thom Hartmann. Lee Camp, Harry Belafonte etc.
But you won't find them on mainstream media.
You have to seek them out yourself.
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-3 8. nomaddaf commented 338 days ago

#3 you clearly have never owned or created anything. Lets test this. A man invents a product and the means to make it.He hires 3 works to produce it. They now all get equal say in the operation of the company. What we now in is the creator and risk taker has 25% control and 3 people he hired off the street now have the same amount of control individually and 3 times the control collectively. So every person you hire down the line better be CEO quality thinkers? If being a CEO is so easy why aren't you one? Is every CEO worth what he is paid? No. But neither is every worker. You think you are giving the works inventive, but you are totally discounting that you are taking away the incentive of the inventors and creators. If you believe that all people have equal levels of intellect and drive you are living in a dream land. If you further believe that that only "tangible" work holds value then you have zero understanding of the world around you. This line of thinking would suppose that a 16 year old life guard at a swimming pool has the same worth as a 40 year old surgeon because they both save lives. While yes we need both,Anyone can be a life guard, but damn few have what it takes to be a surgeon. Anyone can be a fireman (hard dangerous work) but not everyone can be an airline pilot ( Very easy physical work). Take 10 of the sharpest line works out of any factory and make them CEO. Then dump your stock because it will soon be worthless and all of the other line workers will be unemployed. But just before that happens they will pay that CEO what ever it takes to get him back. Thats how success works. You are acting as if the structure of companies are equal to communism just because there is a hierarchy. And lastly ,when has true socialism ever worked? You are not allowed to count pseudo socialism like Holland where they live off of exporting to non socialist countries that can afford their goods. The closest socialism will ever come to working is by leaching off of the capitalist economies around it. Even Denmark is incrementally becoming capitalist because they see the short comings of their system. https://www.youtube.com/watch?v=tzEPKrHalaY
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+3 9. ughlah commented 338 days ago

Actually denmark is becoming more socialist over time ;) Almost every country in europe is part socialist, because we have a very simple rule: if the market produces unwanted results the state has to step in.

Education, healthcare are the usual suspects.

If on the other hand the market can regulate itself, by all means privatize.

I really don’t understand why americans fear this system so much. Don’t worry, you won’t become a communist over night just because everyone who is clever enough can go to university or those who have a heart attack can call an ambulance to get them to the closest hospital, not the one specified in their contract, that is 40 miles away. And if this really was that expensive how do the stooopid europeans handle those costs?
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+2 10. seldomseen77 commented 338 days ago

#8 Wait, you sound like you're saying that under socialism, there are no patents, no copyrights, no trademarks or royalties.

If that's really what you believe then please inform yourself.
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+2 11. RobertTusk commented 337 days ago

#8 If your intellect is so low that you fall for the mindless propaganda of Dennis Prager, then you should expect little respect from contributors to this site
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+1 12. ughlah commented 337 days ago

Finally i understand the problem and nomaddef is right. Hear me out.

Socialism in english is defined exactly the same as communism. And by that definition of the word, well, of course he‘s right. Communism doesn’t work, at all. Even china doesn’t operate in communism anymore. Cuba, venezuala and north korea do. And we all know how those perform.

But here is the catch. Translations of the word define It completely different. More as in being social. Denmark, germany, france are not communist, at all. they do however behave social, not socialist (in the communist meaning).

Sadly i am not the only one who is confused. Bernie sanders is no socialist in the communist meaning. He is trying to bring the us closer to the style canada, germany and denmark have implemented, not venezuela.
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-3 13. Abdullah54 commented 337 days ago

There is absolutely no problem with wealth distribution. What no-so-clever people think is that the wealthiest people keep their property as a big pile of money or gold in their huge private waults, keeping other people from getting any benefit from it. This idea is so wrong.

The richest people are considered rich because they control companies (hold shares) in that market price. Those companies and their subcontractors employ millions of people who pay billions in taxes. Their customers pays billions in VAT. The richest peoples wealth is (most) put in good use for other people. They are not stealing from the poor, they, through their companies, are providing to the poor.

And the moment these rich people would try to sell in large scale the shares they hold, the price of the company and their wealth would plummet in seconds.

Poor people should pray every day that the richest will stay richest and their companies would prosper, because otherwise the poor would be much more poor than today.

This suggesting video is mostly socialistic propaganda.
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+2 14. RobertTusk commented 337 days ago

#8 #13
No one in Europe talks about socialism or communism.
They just expect the governments to look after their people.
And that means a national health service, good schools, good working conditions and looking after the environment.
In Europe the governments look after the people.
In the USA the government looks after the corporations.
The results are evident.

In the US 16.5 million children go to bed hungry and 20% of community college students are experiencing “food insecurity.”
Corporate profits have never been higher, yet staggering amounts of poverty and near poverty remain along with stagnant wages.
Highly addictive pain killers are being foisted on the population destroying lives and whole communities.
Shit life syndrome has spread to whole states where hopelessness leads to widespread addiction and suicide.
Large urban food deserts where only fast or processed food is available exacerbating the obesity problem.
Corporate profits not used to invest in the companies or it's people.
7 trillion dollars in unproductive stock buybacks in the past decade.
An abysmal public education system that is down to 3rd world standards.
Vast criminal corporate activity yet enforcement budgets have been decreased.
Health care billing fraud at $350 billion a year.
A prison industrial complex which has corrupted the judicial system.
A for profit college system that has turned students into indebted slaves.
One third of 18-34 year olds living at home with parents and student debt rages out of control to $1.6 trillion.
Total US credit market debt now at $74.5 trillion.
The growing gap in retirement savings.
Half of American families have zero in retirement savings and most are worse off than they were in 2007.
A Record 95.5 Million Americans Not in the Labor Force.
One-third of Working Americans Supports the other two-thirds. (2018 figure).
35% of Americans have no money set aside for retirement at all.
Trump has turned the washington swamp into a Pacific size cesspit.
Trillions being spent on endless wars that most Americans know nothing about.
Why is the USA intent on destroying Yemen?
2 things have kept the US afloat.
The use of all means possible to enable US corporations to plunder the planet
The petrodollar. The US took control of the oil market and forced everyone on the planet to pay for oil in dollars.
That is why Saddam had to go - he was about to open an online bourse to sell Iraqi oil for Euros.
Absolute nightmare for Washington. With the dollar being reserve currency because of the petrodollar the US can just print money and run up vast deficits with no intention of ever paying them off.
That is why the US spends billions on climate change denial.
It is easy when a dilapidated education system produces a population illiterate in science.
When the petrodollar is gone things will get very ugly very fast in the USA.

So go ahead nomaddaf and Abdullah54,keep watching Sean Hannity and Dennis Prager warning you about all this terrible socialist stuff whilst 2 billionaires battle it out to see which one can buy the presidency.
Your version of socialism is very widespread in the US - socialism for corporations.
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+3 15. ughlah commented 336 days ago

If the free market works so well, why did we need to bail out banks?

If the free market works so well, why do large corporations find ways to pay zero taxes?
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+2 16. thundersnow commented 336 days ago

#14 Well stated!! :)
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-1 18. snotraddict commented 330 days ago

#14 Your peeps are the ones running the shitty schools and obscenely expensive colleges. Your peeps run the 3 disastrous medical systems you all want to implement for the rest of us (Medicare, VA and IHS). That's why people don't trust what you're selling. You think flooding the country with poor people who work for sub par wages might affect wages? You think having porous borders while giving away free stuff won't have negative side effects? I'm not saying some of what you say isn't true or bad, but your version is not all that great either.
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+1 19. RobertTusk commented 329 days ago

#18 Who are you suggesting are my peeps?