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Income Gap

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Andrew
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Income Gap  Reply with quote  

Over two decades, the income gap has steadily increased between the richest Americans, who own homes and stocks and got big tax breaks, and those at the middle and bottom of the pay scale, whose paychecks buy less.





http://story.news.yahoo.com/news?tmpl=story&u=/ap/income_gap
Post Wed Aug 18, 2004 3:52 pm
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thejack
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I would like to see this, but take out the top 1%. I think they may distort the rest of the top 20%'s data. Think about it. Bill Gates is worth how many billion? If you throw him and all the people like him in with those who are making $80K or whatever, the average is going to be huge.

I bet the top 20% without the top 1% is relatively comparable to the bottom 20%.
Post Thu Aug 19, 2004 1:50 pm
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Andrew
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Good point, I'd be interested to see what that did to the data too.

Another point, which isn't a rule, but is often true, is that it takes money to make money. Therefore, those with more money would be expected to have grown their money more. That isn't good news for the bottom 20% though.
Post Thu Aug 19, 2004 3:06 pm
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UnXpected
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quote:
Originally posted by thejack
I would like to see this, but take out the top 1%. I think they may distort the rest of the top 20%'s data. Think about it. Bill Gates is worth how many billion? If you throw him and all the people like him in with those who are making $80K or whatever, the average is going to be huge.

I bet the top 20% without the top 1% is relatively comparable to the bottom 20%.


You have your point.

quote:
Good point, I'd be interested to see what that did to the data too.

Another point, which isn't a rule, but is often true, is that it takes money to make money. Therefore, those with more money would be expected to have grown their money more. That isn't good news for the bottom 20% though.


I do believe you need money in some way but it doesn't really take money to make more money. There are still ppls with $$ still lose $$.

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Post Thu Aug 19, 2004 7:42 pm
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Bid-Palace
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rich getting richer  Reply with quote  

Yes...

I remember studying this in a sociology class (social stratifications) and this rang a big bell. Andrew is right.. if you have money.. you have a lot more opportunity to make more money and able to risk more. If you have money, you can invest it, afford the right advice etc.. I wish I had it... hahaha I also remember studying about families and wealth... in other words, if you are born into a rich family you are more likely to stay within that same part of spectrum bc of education, family background, etc etc..

Take Care..
Post Fri Aug 27, 2004 12:24 am
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