Why AOC? Wealth concentration returning to ‘levels last seen during the Roaring Twenties’

[James_Madison_Lives]

https://www.washingtonpost.com/us-po...=.091689a8a404

Wealth concentration returning to ‘levels last seen during the Roaring Twenties,’ according to new research

The 400 richest Americans — the top 0.00025 percent of the population — have tripled their share of the nation’s wealth since the early 1980s, according to a new working paper on wealth inequality by University of California at Berkeley economist Gabriel Zucman.

Those 400 Americans own more of the country’s riches than the 150 million adults in the bottom 60 percent of the wealth distribution, who saw their share of the nation’s wealth fall from 5.7 percent in 1987 to 2.1 percent in 2014, according to the World Inequality Database maintained by Zucman and others...

Worldwide the picture is even worse.

https://www.theguardian.com/business...ing-point-2030

Richest 1% on target to own two-thirds of all wealth by 2030

The world’s richest 1% are on course to control as much as two-thirds of the world’s wealth by 2030, according to a shocking analysis that has lead to a cross-party call for action.

World leaders are being warned that the continued accumulation of wealth at the top will fuel growing distrust and anger over the coming decade unless action is taken to restore the balance.

An alarming projection produced by the House of Commons library suggests that if trends seen since the 2008 financial crash were to continue, then the top 1% will hold 64% of the world’s wealth by 2030. Even taking the financial crash into account, and measuring their assets over a longer period, they would still hold more than half of all wealth.

[Swordsmyth]

AOC will make it worse, wealth is extremely concentrated under socialism and communism.
The pie is much smaller and those at the top take almost all of it for themselves.

[James_Madison_Lives]

AOC will make it worse, wealth is extremely concentrated under socialism and communism.
The pie is much smaller and those at the top take almost all of it for themselves.

Do you have any data to back that up? If under socialism everyone gets a free education then that adds to equality.

[Swordsmyth]

Do you have any data to back that up? If under socialism everyone gets a free education then that adds to equality.

LOL

History is full of the data, look at the Soviet Union among others.

[acptulsa]

Do you have any data to back that up? If under socialism everyone gets a free education then that adds to equality.

No, of course he doesn't. But for once, he has a point.

Actually, the concentration peaked in 1916, when Woodrow Wilson was experimenting with socialism and within two years of nationalizing the railroads.

That concentration fell in the 1920s until Hoover took over, then it shot back up.

https://www.csmonitor.com/USA/USA-Up...eat-Depression

[timosman]

LOL

History is full of the data, look at the Soviet Union among others.

As an alternative you can travel to Venezuela.

[James_Madison_Lives]

LOL

History is full of the data, look at the Soviet Union among others.

Yes and generally it has gone from starvation-style inequality under capitalism to mere rampant corruption. Russian serfs, Chinese peasants. If the upper classes hadn't been so greedy it wouldn't have happened.

[acptulsa]

Yes and generally it has gone from starvation-style inequality under capitalism to mere rampant corruption. Russian serfs, Chinese peasants. If the upper classes hadn't been so greedy it wouldn't have happened.

"Rampant corruption" is an interesting way to describe Stalin "culling" tens of millions of human beings.

"Capitalism" is also an interesting way to describe the highly centralized tax-and-spend policies of Tsar Nicholas II.

[James_Madison_Lives]

No, of course he doesn't. But for once, he has a point.

Actually, the concentration peaked in 1916, when Woodrow Wilson was experimenting with socialism and within two years of nationalizing the railroads.

That concentration fell in the 1920s until Hoover took over, then it shot back up.

https://www.csmonitor.com/USA/USA-Up...eat-Depression

No it peaked in the late 20s. Your own link says that.

It's 2014, but when it comes to wealth inequality in the United States, it's starting to look a lot like 1929.

In the late 1920s, the top 10 percent of Americans possessed 84 percent of the country's wealth.

[Swordsmyth]

Yes and generally it has gone from starvation-style inequality under capitalism to mere rampant corruption. Russian serfs, Chinese peasants. If the upper classes hadn't been so greedy it wouldn't have happened.

LOL

Generally it has gone from mere rampant corruption under capitalism to starvation-style inequality under communism.

[James_Madison_Lives]

LOL

Generally it has gone from mere rampant corruption under capitalism to starvation-style inequality under communism.

No Mao created the "Iron Rice Bowl" for a reason. You need to brush up on your history and stop reading Ayn Rand.

[acptulsa]

Your link says nothing about Woodrow Wilson or Hoover. It's a report of the same article I posted, making my points.

Show where it peaked in 1916. You had 20 years of robber barons it's a stretch to blame it on "tinkering."

I can't link this part of that article, which I did link.

That share of the wealth held by the country's richest 0.01 percent – a group of roughly 16,000 families with an average net worth of $371 million – is the largest share they've had since 1916, the highest on record, according to the study.

I can link to any number of sites that can help you out with who was president in 1916, and what he and Edward House were up to.

I can also provide links to inform you who was president from early in 1929, during the crucial period when things went awry, if you need the help, and proof that he was the most progressive guy in the GOP at the time.

[timosman]

No Mao created the "Iron Rice Bowl" for a reason. You need to brush up on your history and stop reading Ayn Rand.

And what reason that was?

[Swordsmyth]

No Mao created the "Iron Rice Bowl" for a reason. You need to brush up on your history and stop reading Ayn Rand.

He also killed millions and millions of Chinese.
You need to stop reading commie propaganda.

And feudalism is not the same as capitalism or free markets.

[acptulsa]

This link proves that talk about the Roaring Twenties is pure propaganda, and wealth concentration was indeed at its peak between the robber baron era and the Wilson Socialism era. Not during the libertarian 1920s.



http://philmagness.com/?p=809

Central planners have never increased small business (come on, how could it?) and small business has always driven equitable wealth distribution, and a healthy economy.

If you want people to be wealthy, set them free. I hope you do, because Cortez won't.

[Stratovarious]

AOC OAC'S First draft was;

''Wealth concentration returning to ‘levels last seen during the Slave Trade''

Constituent Mining

[acptulsa]

Don't let all the asses blind you to the facts, J_M_L, or lead you to believe substantive conversation is no longer possible here.

You should be flattered they're flocking to your thread. Trying to keep people like you from having intelligent conversations with people like me is why these divide-and-conquer trolls are here.

[acptulsa]

There's an interesting graph halfway down this page showing how the Federal Reserve and inflation are disproportionally slamming the poor, titled "Change in minimum wage vs. top incomes".

https://www.motherjones.com/politics...-worth-charts/

Dollar devaluation creates wage cuts, but not for everyone. But you don't hear about gold as money being good for the poor, do you?

[Swordsmyth]

Don't let all the asses blind you to the facts, J_M_L, or lead you to believe substantive conversation is no longer possible here.

You should be flattered they're flicking to your thread. Trying to keep people like you from having intelligent conversations with people like me is why these divide-and-conquer trolls are here.

LOL

Tulsa prefers commies to conservatives.
Why am I not surprised?

[acptulsa]

LOL

Tulsa prefers commies to conservatives.
Why am I not surprised?

I've been speaking well of one conservative. Coolidge and I seem to be the only conservatives in this thread. I see a few fascists, though.

[oyarde]

Personally I am sick of all the peasants whining about money . I make as much now that I am retired doing nothing as I made working and I have not taken money from the govt to do so . My advice , work hard , do something , learn something . Quit waiting around for someone to do it for you .

[timosman]

Personally I am sick of all the peasants whining about money . I make as much now that I am retired doing nothing as I made working and I have not taken money from the govt to do so . My advice , work hard , do something , learn something . Quit waiting around for someone to do it for you .

Good for you but you have to realize this path is only available to a few percent of the peasants(1-3?) with talent, ideas and skills. What about the rest?

[oyarde]

Good for you but you have to realize this path is only available to a few percent of the peasants(1-3?) with talent, ideas and skills. What about the rest?

The rest still need to work hard and do something .

[Brian4Liberty]

"Rampant corruption" is an interesting way to describe Stalin "culling" tens of millions of human beings.

"Capitalism" is also an interesting way to describe the highly centralized tax-and-spend policies of Tsar Nicholas II.

Stalin, Mao, Pol Pot, Castro... all the same. The people had to be culled one way or another.

LOL

Generally it has gone from mere rampant corruption under capitalism to starvation-style inequality under communism.

Starvation is popular among communists. Or just kill them so there are less mouths to feed.

[Brian4Liberty]

Do you have any data to back that up? If under socialism everyone gets a free education then that adds to equality.

Free education adds to equality? Nothing is free. You will pay for it, plus more. Government takes money from you, keeps a bunch for themselves and their cronies, then there are some token handouts. This is exactly what exaggerates and causes the wealth gap in the first place.

[timosman]

Or just kill them so there are less mouths to feed.

Takes care of political opponents and those who are not willing to be reeducated.

[Brian4Liberty]

AOC has no solutions. She has communist revolution talking points. Her “solutions” will work if a communist revolution is what you desire. And the poverty and death will follow whether you want it or not.

[timosman]

AOC has no solutions. She has communist revolution talking points. Her “solutions” will work if a communist revolution is what you desire. And the poverty and death will follow whether you want it or not.

[bv3]

AOC : Because nothing solves wealth disparity like making everybody poor.
AOC : Because when you are 22 trillion dollars in debt there is only one solution: spend more.
AOC : Because who better to navigate complexity than a woman with a complex.
Cortez : For when the natives start acting up.
Cortez : When you want what other people have.

but mostly

AOC : Because I'm independent and she is proof.

[DamianTV]

LOL

Tulsa prefers commies to conservatives.
Why am I not surprised?

Effects of Propaganda and Brainwashing. It also shows why governments continue to use these tactics, which is because THEY WORK.