Poverty Rate At Highest Level Since 1960s

[howardroark]

How's that Big Government stimulus working out for ya? http://www.deseretnews.com/article/765592276/Census-figures-for-2011-show-poverty-rate-jumping-to-highest-level-since-1960s.html

[Soul Crusher]

How's that Big Government stimulus working out for ya? http://www.deseretnews.com/article/765592276/Census-figures-for-2011-show-poverty-rate-jumping-to-highest-level-since-1960s.html

Many of us warned us this many times.   

[whork]

How's that Big Government stimulus working out for ya? http://www.deseretnews.com/article/765592276/Census-figures-for-2011-show-poverty-rate-jumping-to-highest-level-since-1960s.html

Actually we have more money than ever its just that a select few have loads and some dont have any.

Its capitalism at its finest gentlemem. But you keep crying for the rich to pay less taxes


A number of studies by the US Department of Commerce, Congressional Budget Office (CBO), and Internal Revenue Service, have found that the distribution of income in the United States — most commonly measured by household or individual — has become increasingly unequal since the 1970s.

One of the most recent and comprehensive studies on the change in income inequality in America was a 2011 study by the Congressional Budget Office (CBO) -- "Trends in the Distribution of Household Income Between 1979 and 2007". (It chose those two years because they both preceded an economic recession and so both were periods of "similar overall economic activity"[43]). The report found that real household income after federal taxes and including government transfers (payments from Social Security, unemployment insurance, etc.[44][45]) grew by 62%.

However, income of households in the top 1 percent of earners grew by 275%, compared to 65% for the next 19 percent, just under 40% for the next 60 percent, 18% for the bottom fifth of households. "As a result of that uneven income growth," the report noted, "the share of total after-tax income received by the 1 percent of the population in households with the highest income more than doubled between 1979 and 2007, whereas the share received by low- and middle-income households declined … The share of income received by the top 1 percent grew from about 8% in 1979 to over 17% in 2007. The share received by the other 19 percent of households in the highest income quintile (one-fifth of the population as divided by income) was fairly flat over the same period, edging up from 35% to 36%." [46]





http://en.wikipedia.org/wiki/Income_inequality_in_the_United_States

[GigantorX]

Actually we have more money than ever its just that a select few have loads and some dont have any.

Its capitalism at its finest gentlemem. But you keep crying for the rich to pay less taxes


A number of studies by the US Department of Commerce, Congressional Budget Office (CBO), and Internal Revenue Service, have found that the distribution of income in the United States — most commonly measured by household or individual — has become increasingly unequal since the 1970s.

One of the most recent and comprehensive studies on the change in income inequality in America was a 2011 study by the Congressional Budget Office (CBO) -- "Trends in the Distribution of Household Income Between 1979 and 2007". (It chose those two years because they both preceded an economic recession and so both were periods of "similar overall economic activity"[43]). The report found that real household income after federal taxes and including government transfers (payments from Social Security, unemployment insurance, etc.[44][45]) grew by 62%.

However, income of households in the top 1 percent of earners grew by 275%, compared to 65% for the next 19 percent, just under 40% for the next 60 percent, 18% for the bottom fifth of households. "As a result of that uneven income growth," the report noted, "the share of total after-tax income received by the 1 percent of the population in households with the highest income more than doubled between 1979 and 2007, whereas the share received by low- and middle-income households declined … The share of income received by the top 1 percent grew from about 8% in 1979 to over 17% in 2007. The share received by the other 19 percent of households in the highest income quintile (one-fifth of the population as divided by income) was fairly flat over the same period, edging up from 35% to 36%." [46]





http://en.wikipedia.org/wiki/Income_inequality_in_the_United_States

If you consider our current economic system "Capitalism" than it looks like you don't quite understand what capitalism is.

[Dos Equis]

Is it the government's job to try and regulate income disparity in the private sector?

[howardroark]

If you consider our current economic system "Capitalism" than it looks like you don't quite understand what capitalism is.

Ding ding ding!

Does whork (or any other brainwashed leftist) have an answer?

[Fury]

"The private sector is doing fine."

[Straw Man]

If you consider our current economic system "Capitalism" than it looks like you don't quite understand what capitalism is.

if our current economic system is not capitalism then what is it and when did it change?

[Mr. Magoo]

Is it the government's job to try and regulate income disparity in the private sector?

Yes.

I bet your reply will be little more than a variation of "no it's not"

[tonymctones]

Yes.

I bet your reply will be little more than a variation of "no it's not"

to what extent Magoo?

and who gets to decide who pays and where the money goes?

[Mr. Magoo]

to what extent Magoo?

and who gets to decide who pays and where the money goes?

whole field in political philosophy called distributive justice; too complicated for a getbig post lol

[tonymctones]

whole field in political philosophy called distributive justice; too complicated for a getbig post lol

its a fairly straight forward question, sum it up...

[Mr. Magoo]

its a fairly straight forward question, sum it up...

There is a lot of work in this area, especially in the last 50-60 years. I can sum up my thoughts but you are asking for arguments; so i recommend looking toward the literature. It is not a simple answer. I would begin with Rawls, Dworkin, Cohen, Nagel, Scanlon...etc

[Dos Equis]

Yes.

I bet your reply will be little more than a variation of "no it's not"

lol.  "No it's not."  That's longer than your response.   

[whork]

If you consider our current economic system "Capitalism" than it looks like you don't quite understand what capitalism is.

So what would you call it then?

[whork]

Is it the government's job to try and regulate income disparity in the private sector?

Yes if you dont want them to raise taxes. On or the other

[tonymctones]

There is a lot of work in this area, especially in the last 50-60 years. I can sum up my thoughts but you are asking for arguments; so i recommend looking toward the literature. It is not a simple answer. I would begin with Rawls, Dworkin, Cohen, Nagel, Scanlon...etc

goodness gracious magoo, sum up your fuking thoughts and their arguments...

[Roger Bacon]

Is it the government's job to try and regulate income disparity in the private sector?

One of those rare instances where Beach Bum is dead on.

[Dos Equis]

One of those rare instances where Beach Bum is dead on.

 

[Roger Bacon]

No offense 

[Dos Equis]

Yawn.

[tu_holmes]

Why was the poverty rate so high in the 60s?

I thought we were doing really well as a country back then.

What happened to cause "high poverty" then?

[GigantorX]

So what would you call it then?

if our current economic system is not capitalism then what is it and when did it change?

Good question.

It's definitely a Semi-Captive Market as opposed to a Free Market.
-It's Corporatism.
-Crony-Capitalist.
-Bubble Economy.
-Centrally Planned.
-Based on debt and credit expansion, not the collection of capital, not investment and certainly not production.
-Mass govt. intervention on behalf of major players.

-The very monetary policy put forth by our govt. and the Federal Reserve (And by extension the banks) flies in the face of "Collecting Capital".

[whork]

Agree 100%

[Roger Bacon]

Yawn.

You tired?