I am shocked!
Flat line.
So this begs the question: what did it look like pre 1994, but probably similar.
More importantly, what does this look like in say Sweden where government is even a larger presence than here?
Sorry, but when I see data displayed like this I generally think there is some kind of feedback loop “buffering” the data. Please show your work...
In addition, I reject the entire concept.
Let’s say you are a Section 8 welfare recipient, receiving free rent, free income, raising a family, you are a drug addict, you are protected by a multitude of anti-discrimination rules pertaining to welfare and Section 8....
And you do not one damn bit of work ever - Now where on the scale do we adjust for this “inequality” running the other way???
If capital gains and bonuses were taxed as individual income, the graph would look much different. Many of the high rollers have very modest “individual income”.
that’s beautiful! great find~!!
It is a perfect example of the media and the 3 types of lies: “Lies, Damned Lies, and Statistics”
Lets say I make 100,000 and someone else makes 50,000 and an average house costs 100K. I make exactly twice as much and I can afford to buy one house with my 100K.
Then let’s say that over 20 years the cost of living and inflation raises everything by 100% so that 100K house now costs 200K and we will be making 200,000 and 100,000 respectively.
I still can buy only one house, and I still make exactly twice as much.
Even though the situation is essentially exactly the same, the media will say “You used to make 50K more, and now you make 100K more- so you got richer”
Lies. Damned lies. Statistics.
It seems to me that if 50% of the people have 100% of the income, and 50% have zero income, then the graph would be right in the middle as it is in the article. So .... the graph doesn’t really tell us much.
The most serious inequality we suffer from is work ethic.
This is the kind of statistic the think tank guys ponder.
If the GIRI is too high, you risk political upheaval based on envy. If it is too low, then, you risk discouraging the wealth creator class and everyone is poor. Assuming you have a Democracy.
There are plenty of high GIRI countries in Africa where there is no Democracy and dissent is not possible.
So it looks like the US is right where it belongs, but perception is everything; and the media controls it.
Good one. I tried to post this yesterday from the original site and was told to post it in blogging. Stupid.
This is the most important article published on FR all month. This completely debunks OWS and the Obama meme.
It’s a major class warfare fail.