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Kasz216 on 16 August 2012
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binary solo said:
Kasz216 said:
badgenome said:
richardhutnik said:

Reality is, as it is now, standard of living increases has flatline for everyone but the top.  The tide is not causing all boats to rise.  

The tide isn't rising at the moment, and according to the CBO, it's the wealthy who have been hardest hit by the recession. Of course, they are better able to sustain that kind of a hit, but the whole narrative about the rich getting richer while everyone else gets soaked is generally a bunch of bull.

The longer term trend demonstrated a middle class that was shrinking as more people climbed out of the middle class and into the upper class.

Also worth noting... that 1 in 3 people who were in the top 1% in 2007.  Weren't there in 2009.

 

That means nothing in the grand scheme of things. Those who are in the top 1% at any given time will be subject to change. What matters is the change in worth of the current one percent, which has gone down. The point is who is in the top 1% is irrelevant.

In any case, it's not the 1% who are the perpetual winners, it's the 0.1%. The 0.1% look upon the rest of the 1% the same as the 1% look upon the 99%.

Couldn't disagree more.

What matters the most is absolute change in wealth.  If I start making enough to earn one more videogame a year, I don't care if someone else is able to afford an extra Yacht or something.

What matters second most, is oppurtunity to be rich.  The more whatever you want to define as rich changes, the better.  That shows there are ups and downs and people are rewarded.  So if people care enough, they can go for it. 

What matters least, is a changing in the percentage of wealth.  It doesn't really mean anything.  So some .01% of the country is rich enough to own a foosball table on the moon.   This matters why exactly?

Getting mad about it is like getting mad that my neighbor can paint better then me, and demand that they burn their artwork because I can't draw worth shit do to disgraphia.

It's pure stupitidy.  Once they die their relatives are likely to lose it all anyway. 

I mean,  you do realize economics isn't a zero sum game, right?