105 share
The chart, from a New York times article, immediately below, shows the rising tide of acquired wealth for the top 5% ("95th percentile" in dark blue), compared to those in the 50 percentile range, and, finally, the lowly bottom 2oth percentile grouping. As you can see, if you believe the numbers this chart represents, the 5 percenters in America own most of the wealth and their rate of increase is substantial. (continued below):
More from the Editor: The New York Times article, here, claims that income inequality need not be perpetual or inevitable, a conclusion based, strangely enough, on the facts represented in the chart. You can read the article, for yourselves, and decide. But, frankly, that conclusion is so bizarre that I did not finish reading the article. Why waste time reading nonsensical theory from the academic Left?
Here is what we can take away from the series of charts coupled with a little bit on commonsense thinking:
1. The US has more wealth than any other nation on earth.
2. Most of that wealth, regardless of the sociology of the particular nation, is owned by the "5 percenters." Keep in mind, the European nations illustrated on the chart, all push varying degrees of socialism, with France, as it turns out, being the most pronounced socialist nation of the four.
3. I would argue, that the difference between the wealth of America's 5 percenters is more than that of others, in each country, because the US has a much larger population as to the investor class. If France had the same population of investors, as the US, its wealth would be (nominally speaking) the same.
4. Not a product of the chart, but the reader (I believe) needs to understand that the investor class functions very differently for the middle and poorer class of citizens.
That difference being this: The 50 and 20 percenters, all work for the investor class. Take away the investor class, the "evil and greedy 5 percenters," as many of the Tent People on the Left want to do, and you have . . . . . . nothing AND . . . . . . no one offering you a job or an avenue for the pursuit of wealth. You are back in the fields, pillaging for food, or hunting game (gawd forbid the hunting).
Understand that the ONLY reason we are not hunting our own food and living in caves, is because of the investor class. . . . . period.
The Leftist Uptopian class, incestually borne of Harvard's academic cabal, hating all those who make more money than they, you know, hating rich folks like the Obama's and Pelosi's of the world, have tried their best to pollute the debate, branding the collection/acquirement of wealth in the Land of the Free, as "trickle down economics," pretending that they, The Tent People, have a viable alternative to "trickle down."
Go back and look at the above "wealth distribution chart(s)." Know that the wealth acquired by the 5 percenters, increases, but, also, feeds the other two classes of wealth seekers. That is how it works . . . . always has, and always will. Indeed, you can call it "trickle down," if you prefer, but, after decades, we are still debating this issue, trickle down theory never goes away because it works and is the basis for our way of life as human beings.
It is an incredibly idiotic fantasy, pushed by the Radical Left and people like Elizabeth "Sitting full of Bull" Warren, our little Harvard squaw from the Cherokee Nation (we KNOW she is Indian because of her high cheek bones, so she says), that wealth is a natural resource, like underground water supplies or veins of gold in California . . . . wealth is a natural resource just waiting to be mined. And those who have more of this natural resource, are just plain evil - using power and manipulation to steal wealth that "rightfully belongs to us all."
Understand two things:
A). for all practical purposes, wealth is unlimited. If we run out of dollars or gold sheckles, we can always use the barter system to add to our dollar supply or trade labor for labor or wives for whatever. And . . . .
B) "the poor will be with us always." The only exception to this, is during a rebuilding time, following a war or a natural disaster that does not include your mother-in-law moving back into your home. When our homes are all destroyed, we are all equally effected and, therefore, "equal." But it doesn't stay that way, does it? Never.
Why? Because humans are wired to compete at differing rates, to achieve at different levels, to strive for varying degrees of success, to earn more than the next guy, to share, with variation, in the irresistible fact of "upward mobility."
Point of this post: Upward mobility is an irresistible force, an important aspect of our DNA., not governmental meddling. Some have more of it than others. As a result, there will always be a financial class structure because some are wired more intensely than others. Some will take advantage of this fact, others will not.
Karl Marx be damned.
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Related:
See the article (12/10/2012) discussion why Central Planning "trickle down" does not work, but Reagas's trickle down, did: https://jds-midknightreview.blogspot.com/b/post-preview?token=kYDoxkUBAAA.Ywo3C4y0xVcCia9MoawpWA.j6QeO2H9KK7pLIrtgRBFDg&postId=6971481967029968674&type=POST#!/2012/12/why-centralized-trickle-down-economis.html
