inequality of income?

Question

One of the most fundamental tensions in American society is between our democratic tradition and its emphasis on equality and our capitalistic tradition and its call for the private control and ownership of capital. Thus, in present day American nearly one-third of all wealth is possessed by one percent of the population and the top 5 percent of the population control roughly 50 percent of all wealth in the United States (meaning that the other 95% of us posses less then half of all wealth in this country). In your view, what factors have led to these disparities? Do you think that such extreme inequalities in wealth are problematic in a democratic society (historically economic inequality of this magnitude has been a precursor to revolution)? What steps, if any, would you like to see the government take to insure a more equitable distribution of wealth?

Answer 1

Taxation perse has made it impossible to move wealth it is to expensive so in the simple lay terms the system designed to quote redistribute wealth has trapped it. To wit why give money to the Government and the Government taxes you for everything you do so why even have wealth transfers, because the Government is enriched by them. Why transfer money to say person x when the Government is taking from both ends.

Answer 2

This is a product of nature... it has been determined that if all the wealth in the world were gathered up and re-distributed evenly between the entire global population that in less than 50 years we would be right back to where we are now. It has a lot to do with Darwin's "Survival of the Fittest" philosophy. Just like some animals in nature survive better than others. The opposite of a free market is communism and look how good that worked. This is not a problem that any government can, nor should try to solve. It is simply nature running it's course. In the wild the weak eventually die off- that's because they don't have government subsidies to sustain them. Because we do have public assistance, maybe this is why the American population just exceeded 300,000 people... and counting...

Answer 3

First of all, that calculation is largely bogus. Take Bill Gates for example. He is supposed to be worth ~$30 Billion dollars. However, nearly all of that is in Microsoft stock, which if he tried to dump would be nearly worthless. In other words, he really isn't worth that much, since stock is not a tangible asset. If Microsoft stock drops to $0.01, then he is worth nothing. Did he really lose ~$30 Billion? No, he never had it to begin with.

Now look at your average person. They are probably worth ~$200,000. But that includes a house, a couple of cars, and household property. These are real tangible assets that have value. Their value will vary, but will never be $0, like a stock.

In summary, the richest among us do have more than us, but the disparity is not as large as your numbers make it look, because your numbers are based on intangible assets.

Having said that, I do think large disparities in wealth are problematic. However, I believe in freedom. That means that I don't think the government should try to solve the disparity. Stealing (taxes) from the "rich" is still stealing. And no matter how good your intentions, stealing is wrong.

We must redistribute the wealth of our country, and the world. But that is something we must choose to do out of a sense of duty and love for our fellow man, not because our government puts a gun to our head.

Answer 4

The United States is a Capitalist society, not a Socialist or Communist one. Equitable distribution of wealth is not part of Capitalism, and it never will be.

You live in this country, and you have the opportunity to succeed. Some people succeed; some people fail, but we all the opportunity to live the American dream.

You go from that opportunistic environment to one where wealth is equally distributed and you can sit by and watch the competitive spirit that made this country what it is today fall by the wayside.

Answer 5

These are the facts that have always led me to lean left of either reigning party in America. How do we let two rich parties control all of us? Why do we all work 8-6PM every day in a vain attempt to 'get ahead' when most of the profits are skimmed off the top?

Answer 6

They should not do anything, because this is not a Communist system and while all people have equal opportunity, some will choose to sit around and watch Jerry Springer or otherwise fail because they're clueless. It is not the government's role to try to elevate them to "equals."

The day that we do, is the day that the hammer and sickle will be raised on the flagpole.

Answer 7

They have just what you want in North Korea.
EVERYTHING IS EQUAL.
The government has everything. The people nothing. That is what you are really wanting.
It was that way in the Soviet Union, too.
It was equal, just like you want.
MOVE TO NORTH KOREA. BE HAPPY AND EQUAL!!!!