I'm reading an interesting article originally published by The Regional Economist that's searchable on the St. Louis Fed's (FRED) site. We hear "the wealthy" being talked about on the news, in classrooms, at work, everywhere. Rarely do we get any good data on the subject. The article discusses what, on average, people in the top one-fifth of the nation's income distribution on average earn, what their education attainment is, their age, etc. How much are they taxed at the federal level, what portion of the wealth do they earn, and what careers make someone more likely to get to the top 20%? I thought it was a worthwhile read since usually what you hear on the subject is entirely normative. The other parts of the article most discuss income inequality and the authors' methodology for determining and defining it. That may be worth a read too. http://www.stlouisfed.org/publications/re/articles/?id=2539
I don't know who you think you are! Posting something like this, with links, and with everything laid out right in front of people for them to understand!? You should be posting a few biased links followed by a half-thought out commentary on how the rich have it all locked up and nobody can get ahead. Then you would get done responses! Ok, tongue out of cheek now. Good link, good read. Clearly, education still pays off, and it's still very possible to make good money in this country. Thanks for posting.
The thing I have a problem.with is comparing Americas economy to.others. At the end.of the post, it comments on Americans having more opportunity to succeed tthan other parts of the world. But America is not isolated. We are all part of the ssame economy. We claim to be capitalist, but a lot of our goods are made in Communist nations. Not arguing either way, just pointing out that we are all tied together Sent from my LG-E739 using Grasscity Forum mobile app
I hear what you're saying, but a little bit of context is necessary. It's not like they really harped on it. The thing I don't like (which I think is what you're getting at) is when someone brings up a complaint and someone else responds by saying "Yeah, well you should go to Somolia," "XYZ are way worse in Somalia." They didn't seem to make a huge point of it, though.
I know, I know, way too many facts, not enough commentary. Haha. The most encouraging part for me may have been the following: I think if we constantly believe that being successful is out of reach, we may be more likely to stop reaching.
Of course you are right about the global economy. But I think the main thing to take from this is the OPPORTUNITIES that are afforded to Americans by our system. The people in communist countries that you mention do not have the same opportunities. Regardless of where some goods come from, American exceptionalism really stems from the fact that under our system dreams can be pursued, and can come true. I will admit I was speed reading it until I got to that part. It caught my attention as well, and made me read the rest of it more carefully. Agreed...it demonstrates that as long as you are willing to work at it, success is possible.
Great post. i knew the income distribution wasnt as bad as most say. I hate the term "income inequality" because it is just a breeding ground for communism. Sent from my SM-N900V using Grasscity Forum mobile app
In my neck of the woods, the rich people are asians haha I'm totally not joking.. like every asian family here has a Lexus and a fuckin Benz in their driveway
DO you know that semi-drivers for certain large corporations make 100k a year? They work up to 60 hours in a 7 day period but still.....thats alot of money for driving a truck, granted thats a huge risk. If you cause an accident you're fucked
There's dudes in rags living in straw and mud huts in Africa. IMO in the US even the homeless are better off.
I try to tell people this but they never.listen. They be like socilaism n minimum wage me poor. /cry Sent from my LG-E739 using Grasscity Forum mobile app
Yeah, it's nuts man. We have a serious mismatch between skills held by individuals and those in demand by the market. I have a buddy in Virginia who recently started doing exactly what you mention. I think it was in either North or South Dakota. He mentioned a 100k figure. It's really a happy story.
Isn't supply and demand a great thing?! Between truck driving school and welding school, a motivated person can spend less than a year in post-high school education and come out with TWO careers, each capable of earning them $100K plus. The happy stories of long-unemployed people going to the Dakotas and finding great jobs are becoming common. The oil boom has certainly created quite a few opportunities up there.
all the smart wealthy people left america.because they relize voting doesnt work when you have to many idiots allowed to vote