Posted on 06/21/2011 4:23:07 AM PDT by SunkenCiv
The gap between America's rich and poor is reportedly at an extreme high, much higher than many developing countries like Cameroon, the Ivory Coast, and even Yemen.
According to the Central Investigative Agency's (CIA) World Fact Book, which ranks countries in terms of how 'equally' wealth is distributed, the U.S. is the 42nd most unequal country in the world, the Daily Mail reports.
It has been ranked way behind the European Union and the United Kingdom in terms of equality of pay. In fact, the situation is so extreme that it has even been placed behind countries such as Cameroon, the Ivory Coast, Egypt, Tunisia and Yemen.
It is reportedly just ahead of Uganda and Jamaica.
Although income disparity in the U.S. has been growing for decades, the latest figures show that it has now reached levels not seen since the Great Depression.
Ten percent of the total personal income in America was taken home by the top 0.1 percent of earners in 2008, the latest year for which figures are available.
Research suggests the reason for this extraordinary disparity is a huge rise in pay for company executives.
'Basically, executives represent a much bigger share of the top incomes than a lot of people had thought. Before, we just didn't know who these people were," economist Jon Bakija, a professor at Williams College who with his co-authors is continuing the research, said.
(Excerpt) Read more at dailyindia.com ...
It’s almost enough to make one think that a lot of countries have a uniformly impoverished population, ruled over by ruthless people who keep their income tax returns pretty private.
The gap between America’s rich and poor is reportedly at an extreme high, much higher than many developing countries like Cameroon, the Ivory Coast, and even Yemen.
I stopped reading right here. When you get hit with supersonic BS it really hurts.
Sooo, am I supposed to feel bad that I am doing well for myself? That I overcame many obstacles, worked my ass off and am now reaping the benefits of that hard work?
And this comes from India? Hey, India, do you want to tell us about your poor?
Aside from that woman who eats three boxes of corn starch daily, not many in US have to eat dirt either. There’s a lot of income disparity on the Yankees, too, though A-Rod and Hector Noesi average about $15m. between them.
So one must conclude that it is more advantageous to be poor in Cameroon and Yemen...
LOL. India’s poverty problem is by far the worst in a Free World.
American or European poor are upper middle class for Indian standard. Not only in terms of income but living quality too.
By contrast, many, if not most poor people are poor because of the choices they've made. Where they are in life is a direct result of the choices they've made. They chose to not develop marketable job skills or avail themselves of the vast educational opportunities that exist in this country. Many choose to not work hard and they made life choices, like substance abuse, having children they could not afford, and managing money poorly. These choices made them poor and keep them that way.
In most incidences it's really no more complicated than that.
So the gap between the richest and the poorest is greater in the US than in Yemen.
I suppose that demonstrates that something must be wrong with the US. Clearly Bill Gates should live in a hellhole like Yemen to make this statistic more fair.
The Indian newspaper reader must be one of the most prickly insecure groups on the planet, outside of the Islam of course).
.....except by government workers
According to the Central Investigative Agency's (CIA) World Fact Book, which ranks countries in terms of how 'equally' wealth is distributed
WTF?? (that is not an endorseent of Barrack Obama and does not refer to "Winning The Future")
When did the CIA start worrying about "wealth distribution?" And how do their crack CNN and MSNBC researchers come up with the data for that?
The CIA World Fact Book is available online. I'm guessing that there's something to this that isn't being told. It would be trivial to link to whatever chart they got this information from. But I can't find this information from a quick search.
It looks like the "jouralist" who wrote this couldn't be bothered to do even the most basic research. Too much, "It is reportedly …" and "research suggests …" Reported by who? Who did this alleged "research?"
Any bets as to which country is at the top of the "even distribution of wealth" list? Maybe Cuba?
I hope some Freepers will find this actual chart ranking us #42
I guess that explains the tidal wave of disgruntled Americans emigrating to Yemen and the Cameroons.
I see no surprise why all the nations on top of ‘eqality list’ are also on top in suicide rates and are magnets for militant islamist immigration.
Kinda sad to work hard to give away some 70% with taxes just to make some Somalian or Chechen freeloaders equal.
"Give me your tired, your poor/Your huddled masses yearning to breathe free"
The Laffer curve in a nutshell. It's more than sad. People won't do it. "Producers" in society will say "screw it" when the tax burden becomes too great. This is the main problem with Liberal tax policies. Liberals assume a static model and believe they can tax everyone more and more without the taxpayers who are footing the bill changing their behavior or otherwise taking action to avoid the additional burden. It's a lot of the reason why so much US investment capital has gone overseas and there are many other examples.
OF COURSE IT IS!!
Zero will always be zero, and, as a healthy nation grows productive population and wealth, the average person’s wealth will move further from zero.
Ergo, a healthy nation will have an increasing gap between zero and the average citizen.
It’s time that those who focus on this measure demonstrate, by example - not theory, where it’s unhealthy for a country to have an increasing population with increasing wealth.
how rich are you?
http://www.globalrichlist.com/index.php
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