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Report: Rich to get still richer as world inequality grows
Associated Press ^ | Dec 15, 2017 2:36 AM EST | Elaine Kurtenbach

Posted on 12/15/2017 12:36:36 AM PST by Olog-hai

Global inequality has stabilized at high levels in recent years, a report said Friday, despite gains among the poor in China and much milder disparities in incomes and wealth in Western Europe.

The World Inequality Report 2018 is based on a massive, interactive collection of data compiled by an international team of researchers that includes renowned economists Thomas Piketty and Emmanuel Saez.

It shows inequality has soared since 1980, although the global top “1 percent” saw their share of global income slip slightly after the 2008 financial crisis, to just above 20 percent. At the same time, the share of global income going to the bottom 50 percent rose slightly, to just under 10 percent, thanks to gains in populous, fast-growing China and India.

The United States and Western Europe had similar levels of inequality in 1980, with the top 1 percent holding about 10 percent of income. But by 2016, the top 1 percent in Europe held a 12 percent income share, compared with 20 percent in the U.S. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Chit/Chat; Society
KEYWORDS: fakenews; incomeequality; liberalagenda; piketty
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To: Olog-hai

Is “quality of life” improving for the poor? Just because $$$ inequalities are growing doesn’t mean the poor are getting screwed. But the left will only look at inequalities, not at the life of the poor and middle class. Maybe there are problems? Maybe not? But there are more factors than $$$ that need to be considered.


21 posted on 12/15/2017 5:20:26 AM PST by LostPassword
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To: grey_whiskers
You're an idiot....

This is tantamount to an admission, that the company gained that $57 billion, by suppressing wages by hiring Third Worlders instead of US citizens...

You are the idiot.

The obligation of the company is to its shareholders. Not to US jobs, not to the government, not to anyone else.

Over the years, this has produced a society where the average family is the wealthiest of any nation on earth.

The Soviets, tried the system you want. How did that work out for them?

You want communism? Go ahead and move to the workers paradise of Venezuela, or try Cuba.

Having super-rich people in the US who do not have to fear government confiscation attracts capital from around the world, which lifts the standard of living for everyone. Take it away through your cockamamie schemes and we can easily become a third world nation.

22 posted on 12/15/2017 6:07:38 AM PST by CurlyDave
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To: grey_whiskers

Great post. Yes rich globalist CEO’s have it in for uppity US workers. We need a tariff.


23 posted on 12/15/2017 6:11:01 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: CurlyDave
Liar. The US was doing absolutely fine even *before* offshoring / outsourcing.

The only reason those companies were able to grow so large and successful, was in fact their presence in the US: the presence of a common market with a common culture and language, a relatively non-corrupt legal system, existing electrical and transportation system, a government which (well, until recently) neither dictated to companies nor nationalized them, a strong currency, relatively honest stock markets and banks to fund capital projects and expansion, anti-trust laws, and so forth.

These things being lacking in the Third World.

The only reason these companies went overseas was pure greed: that if Democrats for power (onerous environmental regulations and hiring requirements) and taxes, greed of the unions (union blue collar workers making more than stem PhDs, lifetime defined benefit pensions), and the employee's greed, fed by the knowingly lying empty promises of "two billion new consumers."

The trick is that the costs of offspring/H1-B usage cannot be readily quantified on a single line item of a finance report, but show up in re-engineering cost overruns, faulty parts (Boeing 777), schedule slippage, and theft /extortion of technical secrets.

But as long as a few vermin at the top get rich beyond mortal comprehension, it's all good. Because buzzwords, and raised eyebrows, and narrative. And Curent Year.

24 posted on 12/15/2017 6:33:37 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: CurlyDave

If Microsoft had paid US workers prevailing wages, they’d only have had maybe $35 billion in the kitty. And just maybe, software that worked.


25 posted on 12/15/2017 6:37:08 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Olog-hai

As global wealth increases, the rich will naturally get richer. Those with more talent, drive and creative ability will generally thrive in most situations.

But for purposes of this discussion, we must first define “rich”. I would propose to divide “rich” rich into 2 categories: benign rich and malignant rich.

The benign rich are those that gain wealth by ethical and legal means and without using the government to oppress their competition. These people create jobs and wealth which benefits the private and the public sectors.

The malignant rich are typically extremely wealthy and use their money to stifle competition, manipulate financial systems, and buy political influence. These people create poverty, misery and political instability which create additional opportunities for exploitation and profit.

The benign rich favor the free markets, low taxes, competition, the rule of law, and freedom of speech.

The malignant rich favor limits on speech, oligopolies and regulated monopolies, heavy government control of the peasant class via taxation and regulation.


26 posted on 12/15/2017 6:45:31 AM PST by grumpygresh (When will Soros be brought to justice? Crush the vermin, crush the Left.)
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To: Olog-hai

Damn straight! Can you still say straight? Anyhow Damn right! This bullshit inequality has got to stop. I demand the Government redistributes some of Bill Gates money to me. Its simply not fair that he has more then I do!


27 posted on 12/15/2017 7:36:25 AM PST by 48th SPS Crusader (I am an American. Not a Republican or a Democrat)
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To: Olog-hai
Morons. Inequality MUST grow, mathematically... or else the economy is contracting.

Here's a simple example:
You have $1million (congrats!). I have $100.

Overlord Obama mandates that all investments pay off equally, for "Social Justice". Let's use 10% for easy math.

After one year, you have $1.1 million. I now have $110.

The difference between us grew from $999,900 to $1,099,890... it jumped $99,990... in just one short year... even when we are forced to invest the same and get the same returns!!!!

The ONLY way to "fix" this "problem" is for growth to be negative. Period. (Or to steal massive amounts from you to give tiny amounts to the masses... which, of course, is their Marxist dream.)

28 posted on 12/15/2017 7:44:35 AM PST by Teacher317 (We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men)
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To: grey_whiskers

You make so many empty weeping generalized statements and mix them with anecdotal examples and pretend that you’re making valid points. You are not.


29 posted on 12/15/2017 7:59:23 AM PST by Teacher317 (We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men)
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To: grey_whiskers

You should go to work teaching class warfare and the merit of union labor to kids. Go fu*k yourself, left-wing sh*t bag.


30 posted on 12/15/2017 9:42:01 AM PST by youngidiot (God will bless you for doing what you ought to be doing any damned way. He's amazing.)
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To: grey_whiskers
Now to get a middle-class lifestyle, it takes both spouses working full-time with college degrees -- which must be paid off.

Because women in the workplace increase the available supply of labor, thus downward pressure on wages.

31 posted on 12/15/2017 9:43:33 AM PST by dfwgator
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To: youngidiot

Grey whiskers is not a left winger. He is spot on.


32 posted on 12/15/2017 9:45:23 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

He absolutely is not. Read his posts above. It sings like the “evil rich” are sticking to the poor guy. Laughably absurd.


33 posted on 12/15/2017 9:47:54 AM PST by youngidiot (God will bless you for doing what you ought to be doing any damned way. He's amazing.)
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To: youngidiot

The “right” wants cheap labor and the “left” wants slow growth and high taxes. This will beget socialism. CEO’s are not responsible citizens and I don’t expect them to be. They are globalists and must be reined in to promote American prosperity, not global prosperity. It is just common sense. We need a tariff.


34 posted on 12/15/2017 9:51:23 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: Olog-hai

So?


35 posted on 12/15/2017 9:52:40 AM PST by John O (God Save America (Please))
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To: Olog-hai

The only answer to solve problems like this is to round up the Evil Rich, execute them, their Families and redistribute their Assets to those deemed worthy.

Reminds me of those who believe in Manmade Globull Warming. The only way to stop it is to eliminate the root cause, Mankind.


36 posted on 12/15/2017 9:56:47 AM PST by Kickass Conservative ( THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: Olog-hai

There is most definitely is a problem of CEOs taking home massive paychecks while screwing Main Street.


37 posted on 12/15/2017 10:07:05 AM PST by Sam Gamgee
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To: vooch
It most certainly is a moral system, but what we operate under is a Keynsian government interference system that creates inefficiencies and encourages bad behavior.
38 posted on 12/15/2017 10:08:17 AM PST by Sam Gamgee
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To: grey_whiskers

Greedy CEOs who add no wealth to their companies. Consider the games played by Goldman Sachs, ect, where they sold knowingly C rated mortgage backed securities labeled as Triple A.


39 posted on 12/15/2017 10:10:09 AM PST by Sam Gamgee
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To: grey_whiskers

I agree. Something has gone wrong. I don’t think capitalism is the culprit. Crony capitalism is.


40 posted on 12/15/2017 10:11:06 AM PST by Sam Gamgee
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