The top 1% of the population earns 22% of wages, versus 15% five years ago. We had a record high in the Dow recently. Is the gap between the haves and have-nots increasing? Is that for the better or the worse for our country?
2007-04-30 06:03:58 · 13 answers · asked by Anonymous in Politics & Government ➔ Politics
Please don't misunderstand - the same 1% now make a greater percentage of the GNP. Those in the middle slid down the scale.
2007-04-30 06:10:50 · update #1
Yes, as a Republican supporter, I can tell you that we are all concerned about the dying middle class, so dont blame Reps, as we try not to blame you. The last time this happend, the top 1% earning everything, the stock market crashed bringing about the Great Depression of 1929. So it is a concern, becuase Germany's Wiemar was too blamed for the Depression, and Hitler's German Worker's Party ended up doing some bad and evil things. At the current rate we are going, and given the over-production of food & global warming; We could see another Great Depression and DustBowl. Count your blessings, you might be selling them soon.
2007-04-30 06:11:09 · answer #1 · answered by Scotty 2 · 1⤊ 1⤋
You form your argument from the point of view that the wealth of the nation is stagnant. First, the top 1%(if I can trust your math does not earn 22% of the wages in this country it earns 22% of the income) Because wealthy people hold more investments it only makes sense that in a growing economy they should gain more wealth because of it, you wouldn't want a return to the bad old Carter days when people invested money only to lose it would you? Second some 70+% of working Americans are invested in the stock market the all time high for the Dow makes us all better off. Third the gap in income in regards to those who work as opposed to those who don't is a good thing. Just imagine a situation where those who don't work would receive the same increase in income as those who do. To make that happen either wages would have to stay stagnant, payments to Those who don't work would have to go up, or taxes on working people would have to go up. The middle class is just fine, try working for a living and get your piece of the pie, you will have a better life
2007-04-30 13:19:51 · answer #2 · answered by espreses@sbcglobal.net 6 · 1⤊ 2⤋
I assure you, the top 1% of the population is not earning /wages/ - maybe they're not clipping coupons like in the old days, but they sure ain't working for a living.
I guess there's a greater gap between the minimum-wage earning high-school kid and Oprah than there would have been in the past. Some of that's just inflation - the gap is bigger in dollars because dollars aren't worth a much as they used to be: there are just more dollars floating around.
2007-04-30 13:38:18 · answer #3 · answered by B.Kevorkian 7 · 0⤊ 2⤋
Yes it is.
I know, because I see my father and I slipping deeper and deeper into poverty every day. When my mother was alive, just 3 years ago,... we were comfortable. We didn't have a lot, and never tried to "keep up with the Joneses", but we could afford to fix the roof if it needed it, or replant one garden bed, or repaint the living room.
Now, the roof leaks right into my room... it has for 6 months. I have to sleep on the couch when it rains since even with 2 incomes, we have no way to pay for a new roof.
2007-04-30 13:32:17 · answer #4 · answered by tiny Valkyrie 7 · 2⤊ 0⤋
Absolutely. The Chairman of the Reserve has said that if we do not do something about the disparity in America we can no longer count on sustaining our position in the world. Middle class now are losing health care benefits.
2007-04-30 13:10:22 · answer #5 · answered by Anonymous · 1⤊ 1⤋
Social stability depends on a large and content middle class. But there's a middle class squeeze, with the cost of education, energy and health care surpassing inflation, and wages remaining stagant.
2007-04-30 13:08:08 · answer #6 · answered by Anonymous · 4⤊ 2⤋
No. "Income inequality" is the new rallying cry, because everyone is getting wealthier, including the richest.
They do NOT have less. In dollars, they have more. Everyone does. The whole "pie" got bigger.
If I get a raise, and someone else gets a bigger raise, I can be happy for myself or resentful of someone else.
I choose to be happy.
2007-04-30 13:17:27 · answer #7 · answered by American citizen and taxpayer 7 · 1⤊ 2⤋
It's much worse.
The gap is growing between people living in poverty and the wealthy.
As long as politicians tend to be wealthy themselves, this isn't going to change anytime soon.
2007-04-30 13:09:20 · answer #8 · answered by Josh 3 · 4⤊ 3⤋
it's already dead.
but your answer is yes. and for people to say that the less wealthy are getting wealthy isn't entirely accurate...
2007-04-30 13:17:25 · answer #9 · answered by plankto 2 · 2⤊ 1⤋
yes
2007-04-30 13:07:41 · answer #10 · answered by skcs11 7 · 0⤊ 2⤋