Comment by pclowes

2 hours ago

Then why are global living standards rising rapidly?

I also don’t think inequality is intrinsically bad. Depending on type and timeframe it may even be good. Especially if the inequality is increasing while everyone is also doing better than they previously were. (note that internal US inequality is actually shrinking)

A 10% increase on a larger base will produce more inequality than a 20% increase on a smaller base. However, I don’t think the smaller base person would prefer neither of them get an increase.

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pclowes

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rexpop  1 hour ago

> internal US inequality is actually shrinking

Since the 1980s, the United States has experienced a profound shift in wealth concentration toward the top of the economic ladder. The bottom half of American households controls just 2.5% of the nation's wealth.

That's 50% of the nation leveraging 2.5% of the purse-strings. That's not what I call "representation."

How can you tell such blatant falsehoods?

Edit: just because it's ridiculous the way some people pretend it's complicated or nuanced:

            ====================================================================================
                   U.S. HOUSEHOLD WEALTH VS. POPULATION: 10 / 40 / 50 SPLIT
    ====================================================================================
    Legend:
    [$] = 1% of Total U.S. Wealth
    [@] = 1% of U.S. Households (Population)
    ------------------------------------------------------------------------------------

    Top 10% of Households (90th - 100th Percentile)
    Wealth (~68.0%):
    $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
    Population (10%):
    @@@@@@@@@@


    Next 40% of Households (50th - 90th Percentile)
    Wealth (~29.5%):
    $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
    Population (40%):
    @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@


    Bottom 50% of Households (0 - 50th Percentile)
    Wealth (~2.5%):
    $$
    Population (50%):
    @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

    ====================================================================================