SK80
Master Eminence Grise
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Post by SK80 on May 4, 2019 4:30:24 GMT -8
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Luca
Master Statesman
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Post by Luca on May 4, 2019 14:55:06 GMT -8
You must have cut out the inevitable CNN follow-up report "..... But the gap between the wealthiest and the poorest segments of society continues to increase.............Buffy Bouffant reports from San Francisco's Haight Ashbury district."
As if it could ever be otherwise.................Luca
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RSM789
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Post by RSM789 on May 4, 2019 15:15:27 GMT -8
Greg Guttfeld made a great point about the so called "income gap", that the actual people who are at the ends of those gaps, aren't resigned to stay there.
In other words, the people who made up the top 10% and the bottom 10% income earners in 2000 were not the same people who made up those positions in 2010. Some folks who made gobs of money in 2000 dropped down to lower levels in 2010, replaced by others who were the top earners for a year or 2 or 5. Think of it like the income levels of professional athletes. In 2000, Derek Jeter was making alot more money than Albert Pulos in the same industry. 15 years later, Jeters income dropped substantially while Pulos was in the middle of a huge contract with the Angels. Even though the income gap between them was large, the two had swapped positions over that time period. Yet neither player was poor.
Ones place in income level in our society is typically fluid.
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Luca
Master Statesman
Posts: 1,316
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Post by Luca on May 4, 2019 15:28:47 GMT -8
Thomas Sowell made the exact same point years ago in his book "Basic Economics." It sounds esoteric but it's actually pretty common sense when you think about it.......................Luca
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MDDad
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Post by MDDad on May 4, 2019 15:34:04 GMT -8
I'm not sure using professional athletes is the best way to illustrate the fluidity at the top of the income pyramid. They have relatively short careers, and they don't benefit from inherited positions, wealth or incomes. My gut feel is that there's more stability among the top 1% then any of us on this forum would like to admit.
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RSM789
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Post by RSM789 on May 4, 2019 15:50:24 GMT -8
Athletes are an excellent example of major fluidity in income for the exact reasons you state. It happens for a short period of time and is from what they produce (entertainment) rather than what is handed to them. Further, they are able to make enough in that short time to live comfortably for the rest of their life, at a time when their income level is much lower. Many business owners have the same experience, years of lower income as they build the company, an explosion of wealth if they hit it big and then returning to lower income levels as they step away from the company or it crashes.
There are people & families who have such great wealth and have invested it properly that they continue to be among the most wealthy every year. However, this conversation is about income, not wealth. The top 10% wealthiest people are not the same as the top 10% highest income earners each year. The top .001% might be the same list, but those folks would be the exception. Even then, Zuckerburg & Bezos crashed that party without an invite.
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Credo
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Post by Credo on May 6, 2019 14:20:11 GMT -8
The Democrats biggest dilemma in the 2020 Election:  |
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davidsf
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Post by davidsf on May 6, 2019 14:33:19 GMT -8
I know only that the two Mutual Funds I got for each of my children when they were born are making 7.5% and 10.1% annually so far this year.
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Credo
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Post by Credo on May 24, 2019 19:44:52 GMT -8
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Credo
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Post by Credo on Jul 10, 2019 12:17:39 GMT -8
Robert Johnson also added that the Democratic POTUS hopefuls have moved too far to the left.
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SK80
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Post by SK80 on Jul 10, 2019 12:20:09 GMT -8
But wait I thought Bernie, Lizzy and Kamala were going to FIX IT !!
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Post by playthegame on Jul 10, 2019 12:28:21 GMT -8
The first debate revealed the party of today...I think many Americans were shocked! Not going to end well for Dems...could easily take years to recover from the wash out in the coming election cycle for their party and may result in the formation of the Not for socialism former Democrats who are moving on Party...some already leaving or simply not going to vote...
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MDDad
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Post by MDDad on Jul 10, 2019 14:45:40 GMT -8
The exact moment when the Democrats lost the 2020 presidential election may have been on the second night of the debates, when the ten top candidates were asked which of them would support free health care for illegal aliens, and all ten raised their hands.
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SK80
Master Eminence Grise
Posts: 7,376
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Post by SK80 on Jul 10, 2019 16:03:27 GMT -8
The exact moment when the Democrats lost the 2020 presidential election may have been on the second night of the debates, when the ten top candidates were asked which of them would support free health care for illegal aliens, and all ten raised their hands. Except California just passed that bill yesterday to pay for illegal aliens of the lesser eco-class.... |
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MDDad
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Posts: 6,814
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Post by MDDad on Jul 10, 2019 16:20:42 GMT -8
That's because in California, only Californians get to vote. It won't fly in most of the rest of the country.
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