ManusJustus said:
Kasz216 said:
Less people make minimium wage then they did back then Manus....
as has been stated countless times before.
Your minimium wage arguement is without basis... since many less people make minimium wage in the bottom 20%... and many less people are under the poverty line.
Poverty line being a much better indicator then minimium wage for the status of the poor.
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How many people make minimum wage or how many people live in poverty has absolutely nothing to do with the gap between rich and poor.
Obvioulsy less people are going to make minimum wage if minimum wage is lower, and less people are going to live in poverty if you keep the same or similar definition of poverty over time.
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Do you know how the poverty line works? It gets adjusted upwords per year.
You just don't seem to understand the basics of this argument... to go over again.
1) Economic Growth is mostly spurred by the rich. Therefore economic benefits will fall mostly with the rich.
2) Regardless of that fact, economic growth hits everybody. The economic growth actually hits the poor higher then everyone but that top 1% who is making it all happen. Bottom 20% hit higher growth then top 20%.
3) Due to the global recession, the Gini coeefficent has dropped to levels that match the lowest levels ever recorded in the US. This proves my asertions. Take away all that growth that was caused in the last few years... and the rich take the hit.
4) The number under the poverty line has shrunk. Less people are living in poverty in this country then ever before. (Or at least before this year.) Everybody in this country has MORE Then they did during the times you are decrying as the "golden age".
5) Real dollars are seen by all economists to be slightly inflated and making comparisons over any large period of time leads to inflation. The past looks richer when it isn't.
You are mad at a system because it allows people to hit big highs... while makes the poor better off... because I don't know if you understand how the economy works... but wealth isn't a fixed thing.
The world economy grows and shrinks.
The Gini coeefficent is only a great tool in measuring "the poor getting poorer" in a fixed value economy.
I mean... I think this year is the perfect proof to my point.
Due to the situation the Gini coeeffficent is as low as it's ever been.
Would you rather be a poor person now? Or 4 years ago when the Gini coeefficent was 4-5 points higher?
I'll take 4-5 years ago thanks... i'd rather not have now be the norm.