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Income Inequality - a term I think I despise more than any
Posted on 7/6/25 at 12:55 pm
Posted on 7/6/25 at 12:55 pm
Do these people who preach this term not understand that different people have various levels of education, talent, expertise and abilities making their services worth more than that of others?
Also, those who argue this term are also usually doing pretty well for themselves. Why don’t they keep $1000 in their checking account and give everything over $40,000 a year of their earnings to the less fortunate if they feel so strongly about it?
Also, those who argue this term are also usually doing pretty well for themselves. Why don’t they keep $1000 in their checking account and give everything over $40,000 a year of their earnings to the less fortunate if they feel so strongly about it?
22
Posted on 7/6/25 at 12:56 pm to Skippy1013
Fixed income. We’re all on a fixed income Deborah.
Posted on 7/6/25 at 12:57 pm to Skippy1013
Capitalism is so great that it allows one to sell its own demise.
Posted on 7/6/25 at 12:57 pm to Skippy1013
I don’t much care for that term. I also know the cost of living vs wages isn’t the same number.
Posted on 7/6/25 at 12:58 pm to Skippy1013
I also really hate:
Slave wages
And
Living wage
Two totally useless phrases
Slave wages
And
Living wage
Two totally useless phrases
Posted on 7/6/25 at 12:59 pm to Skippy1013
Can't we all just agree that {insert whatever here}.
Posted on 7/6/25 at 12:59 pm to Skippy1013
The biggest issue with the “income inequality” narrative is that flesh and blood human beings are not statistical cohorts.
We know through ample data that individuals, over their lifetime, are remarkably transient in terms of moving up (and down) income cohorts.
The IRS studies this regularly. Something like 80% of people who were in the bottom 20% were in a higher cohort ten years later.
The top 10% in 2025 was not made up of the same individuals who were there in 2015, 2010, etc
So when people like 4cubbies bemoan the fact that the “top 10%” are getting wealthier, they are not talking about actual human begins, but abstract income cohorts
We know through ample data that individuals, over their lifetime, are remarkably transient in terms of moving up (and down) income cohorts.
The IRS studies this regularly. Something like 80% of people who were in the bottom 20% were in a higher cohort ten years later.
The top 10% in 2025 was not made up of the same individuals who were there in 2015, 2010, etc
So when people like 4cubbies bemoan the fact that the “top 10%” are getting wealthier, they are not talking about actual human begins, but abstract income cohorts
Posted on 7/6/25 at 1:03 pm to Skippy1013
quote:
Do these people who preach this term not understand that different people have various levels of education, talent, expertise and abilities making their services worth more than that of others?
Just like why "Wall Street" makes more than "Main Street"
Posted on 7/6/25 at 1:05 pm to HailHailtoMichigan!
quote:
So when people like 4cubbies bemoan the fact that the “top 10%” are getting wealthier,
4cubbies or Scott Bessent
Posted on 7/6/25 at 1:35 pm to Skippy1013
The Founding Fathers came from an England with strict class structures. If you were born to a rich Lord you would marry someone from the upper class and give birth to children in the upper class. The Founders wanted the freedom to move up or down based on your life decisions, not your birth. That's what they created in America. Not equality, but the freedom to move up or down...or stay the same. Our history is full of people who were born into a lower class and became millionaires. There are also a lot of children born rich who blew it all and died poor. Mandated equality removes the incentive to work hard in order to move up the ladder.
Posted on 7/6/25 at 1:45 pm to Skippy1013
The political term I hate the most is “the American People.” I freaking hate that term. We are Americans. A group of individual humans. We are not a monolith.
It’s the most stealth communist term I can think of.
It’s the most stealth communist term I can think of.
Posted on 7/6/25 at 1:49 pm to Skippy1013
quote:
Income Inequality
Income equality is communism. Therefore, I’m all about income inequality.
This post was edited on 7/6/25 at 1:50 pm
Posted on 7/6/25 at 1:49 pm to Skippy1013
quote:
Do these people who preach this term not understand that different people have various levels of education, talent, expertise and abilities making their services worth more than that of others?
Oh, they understand it all too well, as they are the recipients of going to the “right school”, or knowing the right person.
They don’t believe in income equality. At all. Not one of them would give half of their income to anyone else to have equal incomes. Not one.
But, if they can convince the gullible masses that they will fight against income inequality, they stand to get elected and become part of the grift.
Posted on 7/6/25 at 2:11 pm to HailHailtoMichigan!
I’ve seen case studies on this with the desired end game of any person born in a society having an equal shot of making it to the top 10% in wealth. That is unrealistic and ignores a ton of genetic and other environmental factors on these outcomes.
People of above average intelligence tend to produce children of above average intelligence much the same way professional athletes tend to produce extremely athletic children. Also, the behaviors that tend to accumulate long term wealth are fairly compatible with raising well adjusted children (although not always).
I look at it more like the EPL relegation model for healthy movement between socioeconomic cohorts. The bottom 1-2% of the top 10% move down every generation and are replaced by the top few percent of lower cohorts.
People of above average intelligence tend to produce children of above average intelligence much the same way professional athletes tend to produce extremely athletic children. Also, the behaviors that tend to accumulate long term wealth are fairly compatible with raising well adjusted children (although not always).
I look at it more like the EPL relegation model for healthy movement between socioeconomic cohorts. The bottom 1-2% of the top 10% move down every generation and are replaced by the top few percent of lower cohorts.
Posted on 7/6/25 at 2:52 pm to Gee Grenouille
quote:This. The cost of living is lowering the quality of life for low-income workers, and it is unsustainable.
I don’t much care for that term. I also know the cost of living vs wages isn’t the same number.
Posted on 7/6/25 at 2:56 pm to Skippy1013
quote:
Do these people who preach this term not understand that different people have various levels of education, talent, expertise and abilities making their services worth more than that of others?
It's common sense and some people choose to ignore it. There are people who believe that some people just make too much money, so they should have more taken from them to even things out for those "less fortunate", including anyone who just sits on his arse all day and does nothing. Progressives come to mind.
Posted on 7/6/25 at 2:58 pm to Skippy1013
There should be the term IQ inequality, which is a real thing.
Posted on 7/6/25 at 3:04 pm to BuckI
quote:
This. The cost of wanting is lowering the quality of life for low-income workers, and it is unsustainable.
Fify.
The cost to live isn’t nearly the same as the cost of want.
Posted on 7/6/25 at 3:05 pm to Skippy1013
Nothing personal, but I don't think you have a firm understanding of income inequality.
Income ineqality basically measures how much relative gains were made people in contrasting earning groups over time (5 years, 10 years, 25 years, 50 years).
Income inequality is basically all about percentiles.
If you're not concerned about the relative gains made by people in the 75th-90th percentile in the last 20 years relative to people in the 10th-25th percentile (the working class and the working poor), then that's your opinion and I will disagree with you.
America is gradually trending towards a second Gilded Age, but we're conditioned as Americans to think "well, I might be rich too one day," so it's no big deal.
Income ineqality basically measures how much relative gains were made people in contrasting earning groups over time (5 years, 10 years, 25 years, 50 years).
Income inequality is basically all about percentiles.
If you're not concerned about the relative gains made by people in the 75th-90th percentile in the last 20 years relative to people in the 10th-25th percentile (the working class and the working poor), then that's your opinion and I will disagree with you.
America is gradually trending towards a second Gilded Age, but we're conditioned as Americans to think "well, I might be rich too one day," so it's no big deal.
This post was edited on 7/6/25 at 3:09 pm
Posted on 7/6/25 at 3:12 pm to ReedRothchild07
quote:
People of above average intelligence tend to produce children of above average intelligence much the same way professional athletes tend to produce extremely athletic children
Very true. For everyone with an IQ of 116, which is sort of smart, there is someone with an IQ of 84, which is closer to clinically retarded than it is to the mean.
Then, there's the strong positive correlation between your parents sucked with money when you were growing up and you sucking with money as a grown-up.
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