According to the OECD the US has the largest wealth gap among G7 nations.
It gets worse: According to IBIS World
The market size of the Ball Bearing Manufacturing industry in the US has declined 4.6% per year on average between 2018 and 2023.
You think the wealth gap is important. It isn’t. That’s just jealousy. Elon has more than me but I have plenty. The gap isn’t important to my happiness. I’m fine with what I have.
A large wealth gap does not only indicate that there are people with assets high above the median, but also that there are those with assets and resources far below. It is hard for you to imagine that I might be concerned for the 2.2 million Americans without running water in their homes for example, or the 26 million Americans without health insurance , or the 44.2 million Americans affected by food insecurity. You automatically assume I am angry because someone has more than me, not less.
The standard republican reply to such concerns is that those living below the poverty line ought to work hard and pull themselves up by their bootstraps, because everyone in the USA has opportunity to improve their situation. If that were true, there would be evidence of that happening, especially in places where hard work and bootstrap philosophy is most prevalent. According to politifact, in 2021-2022:
64% of congressional districts with median incomes below the national median are represented by Republicans.
To be clear: income inequality and wealth inequality are not the same, but there is correlation. A widening wealth gap seems to show that all that hard work and bootstrap pulling is not having the desired effect, even among the hardest working and most fervent believers in bootstrap pulling.
High levels of economic inequality can lead to economic, political and social instability. I’m not saying it’s a cause but it is surely a contributing factor. If you think back over the last 200 years or so, it should not be difficult to recall nations that suffered rather calamitous events that were proceeded by situations of economic inequality: France, Russia, Italy, and Germany to name a few.
Or to put in simply, jealously. Wealth gap is a bad measure as it ignores the wealth that is locked up and not usable.
Communism cares are wealth gaps. Capitalism does not as much of that is locked up and not usable.
You are free to move to Cuba, where the wealth gap is small. Almost everyone is equally poor. I have no interest in degrading our quality of life because of jealousy.
I hope that anyone reading this that does not have the mind of a child understands that concern with economic inequality is not about jealousy or anger that rich people exist. It does not come from the belief that rich people have taken up all the wealth so that nobody else gets any. These are foolish mischaracterizations.
A certain amount of inequality is a good thing: it inspires people to ambition and industry. Beyond a certain point, it is an indication that there is a problem.
It is a symptom, it is a sign: of a giant market bubble about to burst, or of political instability- not necessarily leading to revolution, but possibly. If you don’t believe me go ask any French nobility you can find. I’m sure they’ll talk their head off about it.
It’s about jealousy. Logically whining someone has more if just silly. I’ve done fine even though Elon has done better. It’s not hard to be successful unless you sit around whining someone else has more.
Too many people focus on what other have rather than focusing on their own success and happiness.
It’s why liberals are so unhappy. They just want to steal from others rather than create their own success
It’s about jealousy. Logically whining someone has more if just silly.
So, as far as you’re concerned, the wealth gap will never matter and is always inconsequential regardless of its size? Under no circumstances will the wealth gap ever matter? Is that right?
Not only that but according to the Sustainable Development Report, US ranks 39.
According to the OECD the US has the largest wealth gap among G7 nations.
It gets worse: According to IBIS World The market size of the Ball Bearing Manufacturing industry in the US has declined 4.6% per year on average between 2018 and 2023.
Clearly Biden is really letting us down.
Does no one care about the ball bearings of America?
Thanks for what I have always suspected. It is all about jealousy with the left. You can’t be happy if someone else has more.
I am super curious as to how you come to that conclusion.
You think the wealth gap is important. It isn’t. That’s just jealousy. Elon has more than me but I have plenty. The gap isn’t important to my happiness. I’m fine with what I have.
A large wealth gap does not only indicate that there are people with assets high above the median, but also that there are those with assets and resources far below. It is hard for you to imagine that I might be concerned for the 2.2 million Americans without running water in their homes for example, or the 26 million Americans without health insurance , or the 44.2 million Americans affected by food insecurity. You automatically assume I am angry because someone has more than me, not less.
The standard republican reply to such concerns is that those living below the poverty line ought to work hard and pull themselves up by their bootstraps, because everyone in the USA has opportunity to improve their situation. If that were true, there would be evidence of that happening, especially in places where hard work and bootstrap philosophy is most prevalent. According to politifact, in 2021-2022:
To be clear: income inequality and wealth inequality are not the same, but there is correlation. A widening wealth gap seems to show that all that hard work and bootstrap pulling is not having the desired effect, even among the hardest working and most fervent believers in bootstrap pulling.
High levels of economic inequality can lead to economic, political and social instability. I’m not saying it’s a cause but it is surely a contributing factor. If you think back over the last 200 years or so, it should not be difficult to recall nations that suffered rather calamitous events that were proceeded by situations of economic inequality: France, Russia, Italy, and Germany to name a few.
Finally, here’s an interesting read that shows a connection between wealth disparity and the great depression: https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.rcboe.org/cms/lib/GA01903614/Centricity/Domain/2820/Main%2520Causes%2520of%2520the%2520Great%2520Depression%2520article%25202019.pdf&ved=2ahUKEwj2rpqrk4SFAxWZOjQIHcGQC28QFnoECCcQAQ&usg=AOvVaw30RdFMvrCr9yThPVHsSV5_
Or to put in simply, jealously. Wealth gap is a bad measure as it ignores the wealth that is locked up and not usable.
Communism cares are wealth gaps. Capitalism does not as much of that is locked up and not usable.
You are free to move to Cuba, where the wealth gap is small. Almost everyone is equally poor. I have no interest in degrading our quality of life because of jealousy.
https://www.heritage.org/poverty-and-inequality/report/defending-the-dream-why-income-inequality-doesnt-threaten-opportunity
Complaining about the income gap is fair; complaining about wealth is tiring. Go start a company and become wealthy.
I hope that anyone reading this that does not have the mind of a child understands that concern with economic inequality is not about jealousy or anger that rich people exist. It does not come from the belief that rich people have taken up all the wealth so that nobody else gets any. These are foolish mischaracterizations.
A certain amount of inequality is a good thing: it inspires people to ambition and industry. Beyond a certain point, it is an indication that there is a problem.
It is a symptom, it is a sign: of a giant market bubble about to burst, or of political instability- not necessarily leading to revolution, but possibly. If you don’t believe me go ask any French nobility you can find. I’m sure they’ll talk their head off about it.
It’s about jealousy. Logically whining someone has more if just silly. I’ve done fine even though Elon has done better. It’s not hard to be successful unless you sit around whining someone else has more. Too many people focus on what other have rather than focusing on their own success and happiness.
It’s why liberals are so unhappy. They just want to steal from others rather than create their own success
So, as far as you’re concerned, the wealth gap will never matter and is always inconsequential regardless of its size? Under no circumstances will the wealth gap ever matter? Is that right?