by fstarcstar » Sun Apr 06, 2014 9:09 pm
There is alot to be said for how much society affects wealth inequality, because we all look at the numbers and forgo other factors. This isn't the first time there have been severe wealth inequality, and even if we taxed capital gains at 90% the wealthy would still be able to make money through different means or abilities. Were in a much different stage of wealth creation, and you can't just blame the tax code either.
We have alot of poor who are continuing to be poor and their children will continue to be poor because poverty is circular, it is staying consistent and growing especially in the African American and hispanic communities. We also see a split in the middle class, its either half are going up in wealth or half are going down in wealth to the lower classes. I honestly see in the next 50-100 years we will actually have what we see in movies, where above ground is the wealthy individuals and below ground is the poorer class. Society is changing, which changes the dynamics and I agree with Galts articles he posted because most people who graduate college nowadays are only going to date and marry someone who went to college as well.
That and we also never see numbers for people who honestly make anywhere from 70k-500k because theres more than we think. Wealth I think gets understated for alot of people.