How is wealth distributed in America ?

[powerofbinary 0]

lawrocket

There is a destruction of the middle class and a concentration of wealth because that's the way the government wants it.

And the government is owned by the 1%.

[richravizza 28]

Why is it that every one of these, WEALTH DISTRIBUTION articels, always Based on 2009 numbers?
Because the wealth of Upper Middle America was destroyed like only one other time in history 80 years earlier.
Our homes are the Largest investment we have..
Our retirement accounts are the second..
Our income we produce is last..
We Lost our Homes,if not we lost all the equity..
We lost 50% of our IRA's if we sold,or used it to live on.
We Lost our jobs,now we cannot invest.
Look at Our nations labor participation rate.
2009 was a once in a hundred year Freak Out,a 'Systemic CRISIS' that cost middle America ALL its wealth.
This article is "THE KIND" reminds me of "the rich get richer, the Poor get Poorer" mentality.
i am Poor, i am not rich.
if poor i cannot be rich,it is not Fair, why try..

[powerofbinary 0]

richravizza

Why is it that every one of these, WEALTH DISTRIBUTION articels, always Based on 2009 numbers?

The latest numbers also show that the 1% are getting richer at the expense of everyone else.

[kelpdiver 2]

airdvr

My issue is with the percentages. Average home prices in my area are ~$200K. In order for me to live in that area I would need my income to increase by a factor of 4. That's not going to happen. And if the median is $800K you have to save $160K as a down payment to avoid PMI? Wow.

This weekend, having seen the greater Plains under 6-8 ft of snow while I sweat in the "sweltering" 80s and get sunburned in shorts and a T - pointed directly to why there is this multiplier.

[billvon 3,072]

>Our homes are the Largest investment we have..
>Our retirement accounts are the second..
>Our income we produce is last..

First two agreed. Income is not an investment, it's a source of income that you can then invest.

>We Lost our Homes,if not we lost all the equity..

?? I didn't. We bought before the bubble. Then the bubble came along and - woah! Our home shot up over 100% in value! Since we had a fixed rate mortgage it didn't affect what we had to pay to keep it. Then it dropped back to below what we paid for it. Now it's about 20% above what we paid for it.

I don't see that as losing equity. I just see it as not making as much money as I could have.

>2009 was a once in a hundred year Freak Out,a 'Systemic CRISIS' that cost middle
>America ALL its wealth.

?? That's a bit overblown. Every segment of US wage-earners is making more money compared to the money they made in 1970. Since the bubble collapsed in 2008, the middle 20% has lost 9% of their income. Hardly all their wealth.

>i am Poor, i am not rich.
>if poor i cannot be rich,it is not Fair, why try..

The poor can be rich but it doesn't happen overnight. Sometimes it takes years. Sometimes even decades or generations if the odds are stacked against you. If you don't want that, then don't try.

[airdvr 210]

kelpdiver

***My issue is with the percentages. Average home prices in my area are ~$200K. In order for me to live in that area I would need my income to increase by a factor of 4. That's not going to happen. And if the median is $800K you have to save $160K as a down payment to avoid PMI? Wow.

This weekend, having seen the greater Plains under 6-8 ft of snow while I sweat in the "sweltering" 80s and get sunburned in shorts and a T - pointed directly to why there is this multiplier.

I don't think so. if that were true you'd see the same in FL.

Please don't dent the planet.

Destinations by Roxanne

[powerofbinary 0]

In 1983 the poorest 47% of America owned about 2.5 percent of the nation's wealth, an average of $15,000 per family.

In 2009 the poorest 47% of America owned ZERO percent of the nation's wealth (their debt exceeded their assets).

Hard to believe it could get even worse. But because of the housing crisis and recession, the median family net worth dropped 40% between 2007 and 2010, while the richest Americans were regaining all their losses, and beginning an even steeper climb to the top.

[richravizza 28]

powerofbinary

In 1983 the poorest 47% of America owned about 2.5 percent of the nation's wealth, an average of $15,000 per family.

In 2009 the poorest 47% of America owned ZERO percent of the nation's wealth (their debt exceeded their assets).

Hard to believe it could get even worse. But because of the housing crisis and recession, the median family net worth dropped 40% between 2007 and 2010, while the richest Americans were regaining all their losses, and beginning an even steeper climb to the top.

Thanks that is the Point I was trying to make.
The point in time, they choose for these studies is Bias.
After the Great Crash of 1926 was it really any different ?
All them barons and lightly regulated tycoons made off with BUYS of the century.
Now, a better study would compare 1% in 1935 to the 1% of today, it is 2013 no?
Just last week was a study release stating the FACT that America will emerge as the worlds leading energy producer in a Few short years, talk about Opportunity. It was lost in the Shuffle of another gov't imposed Crisis.There one minute gone the Next.

[OHCHUTE 0]

Takes money to make money. If you have no money it's hard to make money. That simply. Look at Bezos. He started in his garage. Now he's bought the Washington Post for $250 million and he's started Amazon Fresh, getting into the food business. Basically it's just play money. When you have so much of it you can do a lot. Gates it now trying to own food production in Africa via Monsanto. In fact, the guy who owns the seeds for food, will win. In addition, Corp America does't want small business. They want the small business owner to close shop and work for the corp at minimum wage. Haevn't you notice the change of Main Street. They're all franchises, stock firms.

[powerofbinary 0]

richravizza

***In 1983 the poorest 47% of America owned about 2.5 percent of the nation's wealth, an average of $15,000 per family.

In 2009 the poorest 47% of America owned ZERO percent of the nation's wealth (their debt exceeded their assets).

Hard to believe it could get even worse. But because of the housing crisis and recession, the median family net worth dropped 40% between 2007 and 2010, while the richest Americans were regaining all their losses, and beginning an even steeper climb to the top.

Thanks that is the Point I was trying to make.
The point in time, they choose for these studies is Bias.
After the Great Crash of 1926 was it really any different ?
All them barons and lightly regulated tycoons made off with BUYS of the century.
Now, a better study would compare 1% in 1935 to the 1% of today, it is 2013 no?
Just last week was a study release stating the FACT that America will emerge as the worlds leading energy producer in a Few short years, talk about Opportunity. It was lost in the Shuffle of another gov't imposed Crisis.There one minute gone the Next.

The last cycle of wealth accumulation by the 1% ended with a world war. So, not looking good for us.

[turtlespeed 226]

powerofbinary

******In 1983 the poorest 47% of America owned about 2.5 percent of the nation's wealth, an average of $15,000 per family.

In 2009 the poorest 47% of America owned ZERO percent of the nation's wealth (their debt exceeded their assets).

Hard to believe it could get even worse. But because of the housing crisis and recession, the median family net worth dropped 40% between 2007 and 2010, while the richest Americans were regaining all their losses, and beginning an even steeper climb to the top.

Thanks that is the Point I was trying to make.
The point in time, they choose for these studies is Bias.
After the Great Crash of 1926 was it really any different ?
All them barons and lightly regulated tycoons made off with BUYS of the century.
Now, a better study would compare 1% in 1935 to the 1% of today, it is 2013 no?
Just last week was a study release stating the FACT that America will emerge as the worlds leading energy producer in a Few short years, talk about Opportunity. It was lost in the Shuffle of another gov't imposed Crisis.There one minute gone the Next.

The last cycle of wealth accumulation by the 1% ended with a world war. So, not looking good for us.

We have known (Suspected) war was coming for a while now.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[powerofbinary 0]

Much better to work out how to take that extorted wealth from the 1% peacefully before they go to war with us as the cannon fodder then?

[powerofbinary 0]

Not much money to be made once we go to war.

[kelpdiver 2]

powerofbinary

Not much money to be made once we go to war.

the reason the rich are rich is that they don't engage in such negative thinking. in 2009, they didn't sell all their equities for fixed income instruments or money market accounts.

[powerofbinary 0]

kelpdiver

***Not much money to be made once we go to war.

the reason the rich are rich is that they don't engage in such negative thinking. in 2009, they didn't sell all their equities for fixed income instruments or money market accounts.

I agree. The 1% positively believe that they will make lots of money with a new world war. Crazy eh?

[turtlespeed 226]

powerofbinary

Much better to work out how to take that extorted wealth from the 1% peacefully before they go to war with us as the cannon fodder then?

Extorted Wealth . . . I thought that was our entitlements that they are spending!

Surely its all uncollected taxes.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[powerofbinary 0]

The 1% currently own the government - so extortion it is.

[turtlespeed 226]

powerofbinary

The 1% currently own the government - so extortion it is.

So we have to extort the money from them for our entitlements, right?

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[kelpdiver 2]

powerofbinary

The 1% currently own the government - so extortion it is.

I don't think you understand the meaning of the word 'extortion,' my young sock puppet.

[champu 1]

kelpdiver

***The 1% currently own the government - so extortion it is.

I don't think you understand the meaning of the word 'extortion,' my young sock puppet.

Extortion (to our trolling sock-puppet friend here) just means "any transfer of money between two parties where the receiving party already has more money/capital."

Rent an apartment? You're being extorted.

Buy some food at a supermarket? Extorted.

Pay a friend who is a little better off than you back after he or she covered the check at lunch when you forgot your wallet? Extortion (but just barely!)

Paying a cab driver? Ah, trick question. You're extorting the cab driver by not paying him more.

[turtlespeed 226]

champu

******The 1% currently own the government - so extortion it is.

I don't think you understand the meaning of the word 'extortion,' my young sock puppet.

Extortion (to our trolling sock-puppet friend here) just means "any transfer of money between two parties where the receiving party already has more money/capital."

Rent an apartment? You're being extorted.

Buy some food at a supermarket? Extorted.

Pay a friend who is a little better off than you back after he or she covered the check at lunch when you forgot your wallet? Extortion (but just barely!)

Paying a cab driver? Ah, trick question. You're extorting the cab driver by not paying him more.

I like your line of thinking - I'm an extortionist because I don't give everything I have to the beggar on the corner washing your car window.

He is DEFINATELY being extorted.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[powerofbinary 0]

ex•tor•tion (ɪkˈstɔr ʃən)

n.
1. an act or instance of extorting.

2. the crime of obtaining money or some other thing of value by the abuse of one's office or authority.

3. anything extorted.

[kelpdiver 2]

you gave two circular definitions (1 and 3) and one that assets a crime is occurring. Feel free to make a citizen's arrest.

(or again, read for understanding)

[champu 1]

I think a big part of the communication problem is owed to the fact that people (the OP when titling the thread and the video creator included) keep asking about "How wealth is distributed in America" when what they are actually talking about is "What is the current distribution of wealth in America." Nobody really wants to pay attention to how wealth is distributed because that involves examining everyone's behavior and not just the behavior of a handful of really greedy people that you can then claim represent the whole of the "1%" and be angry and yell and complain.