Wealth Inequality Video Goes Viral — Is the Distribution of Wealth What You Would Expect?
Have you watched the six-minute video produced by a YouTube user named "Politizane"?
According to a video on wealth distribution in America uploaded to YouTube, the top 1 percent has 40 percent of all the nation’s wealth, while the bottom 80 percent only has 7 percent of it.
Eye-opening or not surprising?
"Its analysis of American perceptions of wealth distribution, the line between rich and poorand the issue of America's wealth continuum echo stories that have been in the media for years," a DailyFinance report on the video reads. "But there's something about seeing the country's wealth gap in easy-to-follow animations that allows the dry analysis to hit home.
Watch the video, if you haven't already, and tell us what you think in the comments section below. Fair? Unfair? Do you think wealth should be redistributed? If so, how?
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Bill gray
3:34 pm on Monday, March 4, 2013
Wealth belongs to the people that earn it! Not in favor of redistribution, people need to work harder. Not think about how much the other guy has, it's none of anyone's business as long as the wealthy pay their fare share of taxes
John Galt
8:06 pm on Monday, March 4, 2013
Are they "earning" 380 times what the average employee makes? Or are people who are in the position to write themselves cheques - writing themselves cheques?
Steveshrink Allen
9:45 pm on Monday, March 4, 2013
So you really think that those CEOs work 350 times as hard as their average employee? What do you mean by "earn"?
Dave Ballard
12:10 am on Tuesday, March 5, 2013
@ Steve & "John Galt" = If I'm CEO of a $1billion company, and my employee is responsible for $1million of it (most employees are responsible for much less), does it not make sense to pay me, say 1000x more, let alone 400?
The real John Galt would say that wages are up to the company & the market to decide, not the government; maybe we should let the free market WORK, instead of, I don't know, using tax money to bail out the ones "writing themselves cheques"...?
John Galt
12:27 am on Tuesday, March 5, 2013
@Dave How much is a teacher responsible for, or a firefighter... janitor? Surely these people aren't relatively worthless?
Dave Ballard
12:42 am on Tuesday, March 5, 2013
@"John Galt" = This idea that because they are paid less makes them "worthless" is an emotional fallacy. (Unless YOU believe that someone's paycheck defines their personal "worth?") I said nothing of the sort, so stop it, and address my question.
Dave Ballard
12:45 am on Tuesday, March 5, 2013
@"John Galt" = Most of the workers you mention are employees of the community anyway, by way of their state/local governments. If you (or they) believe they deserve more, then petition the community/government on their behalf, or else let them find other, more equitable work.
John Galt
12:50 am on Tuesday, March 5, 2013
The way I understand what you are saying is that people should be paid (worth) based on how much they are responsible for. I am just trying to apply this line of thinking to a teacher, or someone else that isn't responsible for a million. Your CEO is paid 1000 times what someone responsible for a million is. What if all you are responsible for is sweeping up stuff, or putting out fires?
Julian R.
8:54 pm on Monday, March 4, 2013
@Bill Gray The point is that the people who "need to work harder", no matter how hard they work, they aren't going to make it. Class mobility has gone down, meaning the 20 somethings are less likely to move up a class then their parents were. My parents grew up poor, and I grew up middle class. I will probably move up, but I am an exception. If I hadn't go to law school, I would be making a insanely low salary working in D.C.
Second, while it may be that it's no one's business as long as the wealthy pay their fair share of taxes, the super wealthy, the 1%, get more money from investments that are not taxed at the same rates as income. They pay the same share of taxes that the janitor pays! That's not fair. It would be fair if everyone could start their own Private Equity fund, but you need millions in seed money to start such a company. Unless you are the next Steve Jobs, you aren't ever going to be a 1%'er unless your parents were in the top 10%.
Dave Ballard
12:09 am on Tuesday, March 5, 2013
@Julian = "They pay the same share of taxes that the janitor pays!" This is a factually incorrect statement, my friend, no matter how you slice it. Look up the numbers and try again.
Dave Ballard
12:23 am on Tuesday, March 5, 2013
This idea that upward mobility is impossible is crap, pure and simple. Instead of complaining about the gap -- it's ALWAYS been there -- try to figure out how to bridge it. I'm living proof it can be done.
I'm not a 1%-er (even now), and my parents were not 10%-ers. At one point, my family collected food stamps, and Peachcare covered the cost of medical care for my children from before they were born until after they were 6. Other than pre-natal care, my wife & I went without medical care entirely. I was, by most American measures, dirt-poor. (Which is ridiculously wealthy compared to other countries, but I digress.)
In the dozen-plus years since, I've personally gone from making nothing (unemployed, no benefits) to a six-figure salary yearly. And no, Julian, I don't have a law degree, nor any rich relatives/friends to take me on as a charity case. It was not EASY, but who said it should be? Easy is living off of Food Stamps/WIC/Medicare. Deciding to quit being a burden on society (and then following through on that decision), that's hard.
I wish people would stop trying to tear other people down, and start building themselves up. I know it's easier to say "Woe is me" than it is to say "Good for them," but TRY, doggone it. It won't hurt, I promise.
John Galt
12:59 am on Tuesday, March 5, 2013
Nobody is trying to tear anybody down here. The issue is a class of people sucking all the money out of a once healthy middle class. If you don't have a strong and healthy middle class you are going to have a screwed-up society. I really don't care what you make. I have my own business and make 6 figures; I live in "socialist" Canada; and the last thing I fear is people trying to tear me down ... or some other foxnews inspired BS.
Dave Ballard
1:11 am on Tuesday, March 5, 2013
Then you of all people should understand that In ALL cases of employment (ALL, not some), you are worth the balance between what your employer & the market believe you to be worth, and what YOU believe you to be worth. No more, no less. Sports stars make millions -- and bargain for more millions -- because that is what society (via the marketplace) is willing & able to pay for them. Teachers (who make a bit more than the pittance people seem to think they do) are paid what they are paid for EXACTLY the same reason.
You complained specifically about the ratio of wages at some big companies; I gave you a concrete reason for that ratio that you have yet to refute. You then tried to imply that I believe janitors and teachers are "relatively worthless." Having been BOTH myself, your argument falls on increasingly deaf ears.