weso1
<B>Clique Leader</B>
I'm not an economics guy, but I can tell you that those who have gotten noticeably richer since the Reagan 80's sure knew how to run this plan in reverse, so yeah I know it can be done, but given how loud these poor little mistreated pampered folks are I'll bet the shrieking would burst all our eardrums. It's a hell of a lot better than what else is coming their way one day soon if they don't change their tunes, but I'm sure a grand total of zero of them would believe me on that.
I'll go ahead and repost the same old table that I always post to try and point out how bad things are getting as far as wealth distribution goes but I'm sure it'll just be shrugged off like usual. I know I get on some people's nerves sometimes (and despite what you're all thinking I NEVER do this on purpose), depending on who I'm criticizing on any given day but I really believe politicians use our best emotions and tendencies against us. Weso likes to believe the economy will straighten itself out and the skewing we see is just "one of those things" and will correct itself in time and while I completely respect his right to feel this way, I can't for the life of me see where he gets any evidence to support this point of view.
We all have our blind spots and our preconceived ideas that we just can't or won't give up, and I guess that'll never change, in fact it's my opinion that the only thing that will change any of our mindsets on these political arguments is when something akin to Saul's epiphany on the road to Damascus. That's what happened to me back in the 1980s, though I don't expect any Repubs on this board to pay any heed to it (I gave that up long ago). Until a person experiences what I did way back then I don't guess it would be possible for them to change from a hardcore Reagan Republican to whatever the hell I am now unless they walk a mile in my geriatric shoes.
With that said, I believe that conservatives are just as blind about Reagan and Reaganomics and things like wealth distribution (and the fact that is doesn't all just happen by chance or hard work) as the Dems are when they tell themselves that abortion is totally acceptable because it really isn't a baby anyway, it's just a globule of protoplasm and nobody has the right to tell a woman what to do with her own body (which as long as it just affects her own body I would totally agree with) and that the corporations and all rich people are greedy aholes who never do anything good.
Clearly there are good people and bad people in every group, though those at the most extreme ends of things are the ones we all concentrate on because their often the most visible and in my particular case those are the best teaching tools, after all plain old dull drab good people, whatever group they're in are WAY under appreciated, but let's face it they usually aren't the stuff of front page news, though they ought to be.
I wish that whatever side a person was on they could look at this graph and how things have changed in the last 30 years or so and see that if something isn't done and soon we're all gonna be faced with a bunch of stuff we don't like very much. So, you have my permission to pre-ignore it if you so choose. Any of you young tech savvy whippersnappers also have my permission to clean up my tables which as you can see didn't copy over all that smoothly.
Table 2: Distribution of net worth and financial wealth in the United States, 1983-2010
Total Net Worth
Top 1 percent Next 19 percent Bottom 80 percent
1983 33.8% 47.5% 18.7%
1989 37.4% 46.2% 16.5%
1992 37.2% 46.6% 16.2%
1995 38.5% 45.4% 16.1%
1998 38.1% 45.3% 16.6%
2001 33.4% 51.0% 15.6%
2004 34.3% 50.3% 15.3%
2007 34.6% 50.5% 15.0%
2010 35.4% 53.5% 11.1%
Table 1: Income, net worth, and financial worth in the U.S. by percentile, in 2010 dollars
Wealth or income class Mean household income Mean household net worth Mean household financial (non-home) wealth
Top 1 percent $1,318,200 $16,439,400 $15,171,600
Top 20 percent $226,200 $2,061,600 $1,719,800
60th-80th percentile $72,000 $216,900 $100,700
40th-60th percentile $41,700 $61,000 $12,200
Bottom 40 percent $17,300 -$10,600 -$14,800
From Wolff (2012); only mean figures are available, not medians. Note that income and wealth are separate measures; so, for example, the top 1% of income-earners is not exactly the same group of people as the top 1% of wealth-holders, although there is considerable overlap.
Source:
My point earlier though was that Reaganomics has been distorted both by the right and the left. Clinton's economic policy was still technically Reaganomics in my book at least.
Also, what effect do you think the arrival of the internet had on the net worth disparity? I'd say it probably had a significant effect. Bunch of new money in that. Is that on Reagan?