Skip to comments.Inequality between rich and poor in US worse than Cameroon, Yemen
Posted on 06/21/2011 4:23:07 AM PDT by SunkenCiv
The gap between America's rich and poor is reportedly at an extreme high, much higher than many developing countries like Cameroon, the Ivory Coast, and even Yemen.
According to the Central Investigative Agency's (CIA) World Fact Book, which ranks countries in terms of how 'equally' wealth is distributed, the U.S. is the 42nd most unequal country in the world, the Daily Mail reports.
It has been ranked way behind the European Union and the United Kingdom in terms of equality of pay. In fact, the situation is so extreme that it has even been placed behind countries such as Cameroon, the Ivory Coast, Egypt, Tunisia and Yemen.
It is reportedly just ahead of Uganda and Jamaica.
Although income disparity in the U.S. has been growing for decades, the latest figures show that it has now reached levels not seen since the Great Depression.
Ten percent of the total personal income in America was taken home by the top 0.1 percent of earners in 2008, the latest year for which figures are available.
Research suggests the reason for this extraordinary disparity is a huge rise in pay for company executives.
'Basically, executives represent a much bigger share of the top incomes than a lot of people had thought. Before, we just didn't know who these people were," economist Jon Bakija, a professor at Williams College who with his co-authors is continuing the research, said.
(Excerpt) Read more at dailyindia.com ...
It’s almost enough to make one think that a lot of countries have a uniformly impoverished population, ruled over by ruthless people who keep their income tax returns pretty private.
The gap between America’s rich and poor is reportedly at an extreme high, much higher than many developing countries like Cameroon, the Ivory Coast, and even Yemen.
I stopped reading right here. When you get hit with supersonic BS it really hurts.
Sooo, am I supposed to feel bad that I am doing well for myself? That I overcame many obstacles, worked my ass off and am now reaping the benefits of that hard work?
And this comes from India? Hey, India, do you want to tell us about your poor?
Aside from that woman who eats three boxes of corn starch daily, not many in US have to eat dirt either. There’s a lot of income disparity on the Yankees, too, though A-Rod and Hector Noesi average about $15m. between them.
So one must conclude that it is more advantageous to be poor in Cameroon and Yemen...
LOL. India’s poverty problem is by far the worst in a Free World.
American or European poor are upper middle class for Indian standard. Not only in terms of income but living quality too.
By contrast, many, if not most poor people are poor because of the choices they've made. Where they are in life is a direct result of the choices they've made. They chose to not develop marketable job skills or avail themselves of the vast educational opportunities that exist in this country. Many choose to not work hard and they made life choices, like substance abuse, having children they could not afford, and managing money poorly. These choices made them poor and keep them that way.
In most incidences it's really no more complicated than that.
So the gap between the richest and the poorest is greater in the US than in Yemen.
I suppose that demonstrates that something must be wrong with the US. Clearly Bill Gates should live in a hellhole like Yemen to make this statistic more fair.
The Indian newspaper reader must be one of the most prickly insecure groups on the planet, outside of the Islam of course).
.....except by government workers
According to the Central Investigative Agency's (CIA) World Fact Book, which ranks countries in terms of how 'equally' wealth is distributed
WTF?? (that is not an endorseent of Barrack Obama and does not refer to "Winning The Future")
When did the CIA start worrying about "wealth distribution?" And how do their crack CNN and MSNBC researchers come up with the data for that?
The CIA World Fact Book is available online. I'm guessing that there's something to this that isn't being told. It would be trivial to link to whatever chart they got this information from. But I can't find this information from a quick search.
It looks like the "jouralist" who wrote this couldn't be bothered to do even the most basic research. Too much, "It is reportedly …" and "research suggests …" Reported by who? Who did this alleged "research?"
Any bets as to which country is at the top of the "even distribution of wealth" list? Maybe Cuba?
I hope some Freepers will find this actual chart ranking us #42
I guess that explains the tidal wave of disgruntled Americans emigrating to Yemen and the Cameroons.
I see no surprise why all the nations on top of ‘eqality list’ are also on top in suicide rates and are magnets for militant islamist immigration.
Kinda sad to work hard to give away some 70% with taxes just to make some Somalian or Chechen freeloaders equal.
"Give me your tired, your poor/Your huddled masses yearning to breathe free"
The Laffer curve in a nutshell. It's more than sad. People won't do it. "Producers" in society will say "screw it" when the tax burden becomes too great. This is the main problem with Liberal tax policies. Liberals assume a static model and believe they can tax everyone more and more without the taxpayers who are footing the bill changing their behavior or otherwise taking action to avoid the additional burden. It's a lot of the reason why so much US investment capital has gone overseas and there are many other examples.
OF COURSE IT IS!!
Zero will always be zero, and, as a healthy nation grows productive population and wealth, the average person’s wealth will move further from zero.
Ergo, a healthy nation will have an increasing gap between zero and the average citizen.
It’s time that those who focus on this measure demonstrate, by example - not theory, where it’s unhealthy for a country to have an increasing population with increasing wealth.
how rich are you?
I’m sure that there is something fraudulent about the claim. But, in any event, liberty and inequality are inseparable, and a society without economic inequality is immoral. Someone should mention to the Indians, by the way, that we have the world’s fattest “poor” people.
The chart is "upside down" if you will, with the worst countries at the top. On the version on the CIA website (not sure if it's newer or older than the one referenced in the article, the United States is 39th from worst. The bottom of the list, the "best" in the article author's opinion, is Sweden. Working up from the bottom, you find Hungray, Norway, Serbia, ...
The United States is 39th, Greece is 96th, Italy and Spain are 102nd and 103rd.
this comes from an indian website, not the indian govt. They have vast inequalities too, measured on the Gini coefficient, however, the article doesn’t talk about the % of poverty but the gap between the rich and the poor. in india, most everyone is poor, so there is little gap :-P
It should also be mentioned that the United States gubmint has spent trillions of tax dollars on the so-called "war on poverty" in the past 40 odd years with the result being a higher rate of poverty now than when the "war" was started.....
I wonder if the poor in Cameroon have cell phones.
Well, there are super rich in India as well. But the vast majority are dirt poor. It makes a gap, isn’t it?
Understood. The irony of an Indian talking about the wealth gap is astounding. There are plenty of well off Indians.
Understood. The irony of an Indian talking about the wealth gap is astounding. There are plenty of well off Indians.
In the US I don't know why the gap is high, quite frankly, but in China it's pretty apparent why.
In the US I guess the gap is high due to people earning well, not robbing the poor blind like the robber barons of the 1800s (JP Morgan etc.) or of present-day China.
But, that said, it's not a good trend especially when the super-rich wall off their communities (and don't get me wrong, I lived like that recently) -- and that's a recent phenomenon. Prior to this, the rich would meet the poor somewhere, but if there is NO interaction except as server and served, then that leads to a lot of mistrust and antagonism
I think removal of the draft had an effect -- if the rich and poor served together as 18 year olds, when they turned 40, Mr. Moneybags would still remember that his chauffeur was his friend and the chauffeur would remember that -- lower social tension
AGain -- I'm not an economist, so these are just my thoughts and they could very well be wrong.
Fewer are becoming wealthy by working hard, being good people and following the rules(which are often written to work against competition). Instead it often happens by ‘knowing’ the right people that can help:
get “creative” with taxes
cherrypick permits while denying competition
get uncompetitive access to taxpayer funds
put pressure on competition
write favorable laws
find lawyers that ‘know’ judges
skirt patent law knowing a small inventor has no means to defend
seize private property at taxpayer expense
imprison people you don't like for easily generated crimes
allow labor export to slave states
Etc (these are just a few off the top of my head)
Every new wealthy person I know has taken advantage of this crony system at some level. They tell me generally the same thing “in today's business, there ain't no such thing as honest business”. I tell them I like to sleep at night and I will be judged someday.
I'm back home in the USSR and it makes me sick every day.
>>>>>>>Someone should mention to the Indians, by the way, that we have the worlds fattest poor people.
It should also be mentioned that the United States gubmint has spent trillions of tax dollars on the so-called “war on poverty” in the past 40 odd years with the result being a higher rate of poverty now than when the “war” was started.....
I find the term “war on poverty” ridiculous. How can you fight something which is not exists naturally (poverty means absence or lack of wealh actually).
No surprise why de-facto this war makes more poverty because it’s aimed to strip one of money to give it to another who already managed to lose his own and know how to do it one more time.
Not to mention if being a poor is turning to be a nice career choice this way reducing producing population.
So you can see at least three effects corrupting productivity in just one nice sounding “war on poverty”.
WHY they don't want a job!
If you already “live rent free, have cars, large screen color TVs, AC and heat, and food stamps” WHY do you have to want a job?:)
When did they become the Central Investigative Agency?
There is no such thing a rich human detritus, therefore the inequality in Yemen and Cameroon.
Yes, boys and girls, the solution to Economic Inequality is Universal Poverty. While we’re looking at disparities, you might want to check out the disparity between what it’s like to be poor in the U.S. in 2011 and what it’s like to be poor in Yemen.
Rather than robbing the poor, JP Morgan saved the economy of the US on 2 different occasions.
Having traveled to many 3rd world countries, i.e., Kenya, Brazil, Peru, Nicaragua, as well as several places in Eastern Europe and the former USSR, I've come to realize that most Americans have no idea what real poverty is all about. When you see filthy, barefoot kids dressed in rags picking over a garbage dump gathering their breakfast every morning for a couple of months and then contrast that with welfare brood mares adorned from head to toe with bling, yakking on their cell phones with their fancy hairdo's and painted nails while waiting in line for another gubmint hand out from Obama's "stash" it's really striking. I've been all over this country, 49 states worth, and I've never seen anything remotely close to what I've seen elsewhere.
Many in this country CHOOSE to be poor...
You forgot India. The plain fact is the "poor" in America live better than the poor anywhere else on the planet. The great majority of the poor in America are poor because of the choices they made in life. That doesn't mean they're living horribly, it just means they don't have as much goodies as other Americans. That's why some years ago some American writer who had a friend from India visiting him, was asked by his Indian friend to take him for a walk in the poor part of some eastern big city. The American asked him why. The Indian replied because he wanted to walk in a part of the world where the poor people were fatter than the rich people back home in India.
America is where the “poor” are more likely to be obese than any other economic group.
Everywhere else is where the “poor” are starving.
in Cameroon EVERYBODY is POOR (which is obviously the Obama Plan)
>>>>>It was intended to make as many people as possible dependent on gubmint>>>>>>
Exactly. They need freeloaders to get elected. As soon as underclasses are growing you have to expect them winning the election no matter how faulty all the other policies apart from redistributing wealth are.
The problem with that is someone’s else money are going to finish too.
There are a number of examples of failed socialist’s paradises.
Yep. All of 'em. Socialism has failed everywhere it's been tried. (and don't think for a minute that "they" don't know it)......
Prepare for the flaming.
You have just spoken blasphemy on FR.
The MSM acts like poor Americans are drinking from sewers and starving to death when they overwhelmingly have decent paid for meals and own their own vehicles.
They have to tell their people that things are worse here than they are there.
If the poor masses in India found out how the poorest of the poor live here, they’d be at the Mexican border sneaking in as we speak.