A Look At Income Inequality In The United States | TIME
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- čas přidán 13. 07. 2024
- Income inequality has always existed in the U.S., but the gap between rich and poor hasn't always been as wide as it is today.
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A Look At Income Inequality In The United States
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This video is wrong to imply that things are radically different in Europe. Income gaps are also widening in Europe, the U.S. just happens to be ten years ahead in that regard.
The difference is also that in Europe, the politicians and also the majority of the population see rising income inequality and wealth gap as a problem and they are actively doing things to mitigate it, whether that be improving the public education system or even things like improving people’s access to infrastructures. In America, however, politicians only talk about it when it’s election time and then do absolutely nothing about it. Worse than that, a huge percentage of the population don’t even think that there’s a problem at all. This includes people at the bottom as well which stemmed from the lack of education and just pure ignorance. There’s a culture of idolizing and worshiping the rich at all cost, a lot of “temporarily embarrassed millionaires” who blame people’s poverty on their individual choices even if these people are a part of the poor themselves. So I think that the real difference is that over in Europe there’s more of an effort to understand and combat this rising inequality while people and the government here in the US don’t even care or acknowledge that there’s a problem in the first place.
you're forgetting the reason why Europe is overlooked for income inequality: social programs. in Europe even if you were in the bottom 10%, you would still get free healthcare. in the US, you would have to choose debt or death to even think of going to the hospital. this is the problem in the US.
Europe is always following the US. What happens in the US, will be here in 5-10 years. Unfortunately also the bad things.
@@cinorikese5890 not necessarily, this doesn't apply to everything in the US. What examples are you taking your point from?
As a non American, I find it ludicrous when Americans discuss the economic gap. The US is an extremely capitalistic country. This was bound to happen. They don’t even have free health care. Obviously the country is gonna be unequal. When discussing the establishment of free health care or better social care in general, it is vetoed Bc it’s “communism” and not “democratic”. Just saying.
It’s not that it’s unpopular or a bad system, it’s that the us realistically can not afford Medicare for All at the moment
@@zachb1706 *ignores the nearly $1trillion going to the military* The cost that every person spends on private health insurance AND what employers spend on health plans for their employees would be gone, and the profit that private health insurance skims off the top would no longer be there. Costing us trillions over the years but saving us trillions over the years... how does that not work out? Every other sane country in the world does it at least partially this way.
@@123476565656 Europe on the other hand invests a lot in healthcare etc. but little in military.
I think if the State stopped being seen as our enemy and passed to be seen as our friends things would be way better off.
@@zachb1706 the opposite is true: The US cannot afford to continue the current system, your healthcare is currently the most expensive in the world.
In America alone, the one percent donate huge sums of money to politicians. The same politicians ship jobs overseas. You are left with the overqualified people competing against ordinary people for simple jobs.
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Wealth inequality is a bigger problem than income
What’s the problem?
@@gabrielgonzalez6456 asset prices are too high relative to income, like in the feudal ages where you're born to nobility or poverty and can rarely move to another social class
@@gabrielgonzalez6456 People are really wealthy and don't work so we need to focus on the total wealth people have rather than how much they make a year.
@@gabrielgonzalez6456 Also lots of money that rich people make in things like stocks is not counted as income
Globalization, Internet, Automation.
Napoléon Bonaparte yes Australia might be green, but we also have no manufacturing sector.
Why didn't she mention Asian Americans?
Thank you! I was thinking the same thing. I grew up poor and my parents made close to minimum wage. I might not be in the top 1% now but I have a good job, I'm a home owner, and I'm not complaining. Words like "racist" or "inequality" never ever came up in my household even if I went to just about the worst and roughest school in my state. I definitely knew what racism was and at times was the victim of it. My parents response...just keep working and ignore people who try to keep you down. The more you talk about inequality and racism, the more it becomes part of your mindset. Just focus on getting YOU wherever you want to be despite your environment. That's how our family handled it and we're well umm..above middle class now.
@@anonymoususer4376 yes, plus Asian Americans out-earn white Americans!
@@PhilipOMeara When you bring that up, they say, "Asian Americans suffer from a different type of systemic racism." WHAT!!?? Freaking morons man.
Americans immigrating from India also out earn Whites. They seek high paying medical careers and become business owners. They simply work their ass off as opposed to settling for victim status.
@@PhilipOMeara no they dont , that's household income not individual income.
They are also twice as likely to be unemployed as whites when accounted for education and job qualification.
Wtf. Just use a pie chart
Very informative ...well put together visually
It is not the salary that leads to inequalities, it is the assets. If you have money, you can easily make more and more money. We need a wealth tax or a merciless legacy tax. And after that, we can increase the salaries.
@@mshah1193 the consumers already pay all the taxes in the 1st place.
That would be an excellent way to ensure the transfer of wealth out of the country. Stop complaining and increase your own wealth
Pretty much sums it all up
Look here, you rich people: Weep and groan with anguish because of all the terrible troubles ahead of you. Your wealth is rotting away, and your fine clothes are moth-eaten rags. Your gold and silver are corroded. The very wealth you were counting on will eat away your flesh like fire. This corroded treasure you have hoarded will testify against you on the day of judgment. For listen! Hear the cries of the field workers whom you have cheated of their pay. The cries of those who harvest your fields have reached the ears of the Lord of Heaven’s Armies. You have spent your years on earth in luxury, satisfying your every desire. You have fattened yourselves for the day of slaughter. You have condemned and killed innocent people, who do not resist you.
James 5:1-6
The Bible remains relevant today more than ever
Lol I'm rich and this bible verse definitely has me shaking in my boots. Lol. Kidding. I lovvvveee having money and keeping it all to myself!!! Mhmmmm.
Minding the gap... this phrase is said on Britain... like “watch you step” when you step off the train. Weird to see it here.
When showing the opening how we got here, you should have mentioned in the 1970’s and 1980’s stagflation triggered the rise of Reagan and conservatism. Also you failed to mention part of the reason for higher wages in the 1940’s-1960’s was the smaller number of immigrants, which ended with the passage of the 1965 Immigration and Nationality Act.
I highly doubt the higher wages was because of lack of immigrants... We're talking about post-war when we were the major manufacturing country in the world. Things changed when the rest of the world was recovered from the effects of the war.
@@123476565656Yes and no. Yes, manufacturing was a huge factor as you pointed out. But no, immigration was also a major factor. At the time there were restrictions on immigration which lowered the number of unskilled laborers in America. The low supply and high demand resulted in the ability for workers to push for higher wages. The 1965 INA may have abolished racist quotas, but it allowed more unskilled workers to come in. Considering the act also prioritized family-based immigration rather than merit- or skills-based, it resulted in high chain migration. There’s now a higher supply of unskilled workers with less unskilled jobs. Most other developed countries limit the number of unskilled immigrants and prohibit chain migration. I personally 💯 support repealing and replacing the 1965 INA with a new immigration law similar to that of Canada or Australia which limits unskilled immigration to the US
@@caseclosed9342 You're ignoring how conservatism killed unions which were the backbone of the American middle class.
Like how Us gini is just a bit smaller than Brazil's Gini, idk witch one is worse
It has more to do with CEO’s being willing to make less and give more to their workers… who’s gonna choose to do that? Unfortunately probably no one
Wondering if the thumbs down are all millionaires and billionaires...
I have no hope at this point but I’ll keep trying
Loved it until "Change isn't around the corner" 😭😭😭
sources?
Its called decisions not inequality
Americans: Income inequality is so bad over here
South Africans: Am I joke to you?
This video is SO overstimulating I had a panick attack watching it
I didn’t need this shit my teacher said so
Good car example but also account the pollution. Less car pooling more destruction. While we compete over money. We will die all for the money. Mother earth and father time gon kill us.
glance at the 1st 20 videos...now listen carefully to the 1st phrase in this...how does she sound?...be honest.
The reason they have income inequality is because the CEOs what most do you use assuming they’re entrepreneurs take the biggest risk when sometimes the company doesn’t even make money in the first year of service and if they go bankrupt they come out with less money than they had before the enterprise began
Japan western europe new Zealand Australia have no ceos
Crtm12 Australia and New Zealand definitely have CEOs
I don't make as much money as some, but I do pretty well for my faintly. There is wealth inequality in all countries, always has been and always will be. At no time will all people make the same or even lose to it. As for the poor in the U.S. It you finish high school, get SOME type of post high school education, you should be fine. Some people will major in a profitable field and do better than some who major in a silly, unprofitable field that ends with the word STUDIES. Some will drop out of high school and end up very poor. People make decisions - and their decisions make their future. How is this unfair?
Minimum wage, alright.
Maximum wealth, already?
You speak so fast I had to change the speed to .75
Expanding trade to ship jobs overseas, In nineties I was middle class until jobs went overseas and lost everything, in 2020 ,now am a poor widow with no help from anyone because I decided to work and not keep having babies for American taxpayers to support.
A lot of this is misleading as f*ck, but mostly true.
Hi
Money is neither a means or an end: work and being good are.
Ur talking too fast it’s hard to follow along
Trump and Bloomberg will not help to close the gap, Please choose someone else as President of the USA.
Blanket statements with no reasoning, that’s good
If you want the gap closed, do something to make yourself more productive. I have no responsibility for anyone's wealth or income except for my own
I couldn't even get through this her voice sounds terrible and she's talking fast and she also sounds like she's reading it.. nothing interesting here we already know this it always was and always will be this way inequality
too much loud annoying edited in sounds and music
There's no such thing as "income inequality". It's just called theft and graft.
That is the dumbest comment on here. Congrats
Rich people invest, poor people don't. Capital grows faster than salary, so if you're not investing, you are losing the race. The most important factor in investing is time, so the best time to start investing was yesterday, second best is today. Just start with whatever you have, it's better than nothing at all. We all have access to time.
Taxation might give the poor people a short term win, but in this global world, the rich are just gonna move elsewhere, so it's a long term loss. If you chase them away you're gonna be on your own running a country of poor people. Poor people need to be educated to make smart decisions.
at what point does the gap become too wide? When does the 1% become an oligarchy that we just shouldn't tax because of bullshit trickle down economics? Poor people aren't poor simply because they are uneducated or lazy. You can't completely blame poor people for being poor. I understand through taxation you risk businesses moving their business elsewhere and the problems that can come from that, but they also lose business in the US. Isn't that a better problem to deal with through legislation than the 1% owning half the wealth in this country. The gap is ridiculous, its a clear issue, and trickle down economics is clearly bullshit. You can argue what we should do with the taxed wealth or how we should deal with the issue in an even more general sense, but to disregard and ignore the fact that wealth inequality has become seriously out of hand and is a serious issue is just ignorant. The richest country in the world shouldn't have 44 million people living in poverty, period.
“Money can only get you so far; you need power and influence to go with it.” -Faridah Àbíké-Íyímídé
This country is sick and has some reparations in order due to a portion of its population!
They are free to leave for their nirvana......no one will stop them
vote for Bernie in 2020 ... thats the first step to fixing the issue
What issue?
not an option
Too late
Bernie is an old wrinkled failure.
On Mars, maybe
Inequality = Productive, think out side the box vs Lazy, Now, i want phone, tv NOW...
Wrong as hell.
@@blackSUAAAVE Ask the nike shoe co. after stimulus went out. There sales went thru the roof.
@@hithere470 - Oh, please. You people have million dollar houses, that you bought with connections, inheritances, and tax funding...and you act so high and mighty, as if you actually worked for everything you have.
One day there will be a reckoning.
@@blackSUAAAVE "A reckoning" LOL.
HI. there is racial inequality, gender inequality and US inequality
Women make. 82 cents compared to $1.00 that a man makes. Note to hiring directors: Hire only women and save .18 cents on the dollar in wage costs for each man that is laid off.
That’s not how it works
@@nathe1387 I don't have the time, nor the crayons needed to explain this to you so you can understand...
@@gasoven3759 Since you have no clue, your explanation will be unnecessary
@michaelcollins8328 Sure thing Karen...
@@gasoven3759 Let me know when you get a clue. To give gross generalizations is the weakest form of argument.
Overcome your income of birth
This problem would not exist but for executive greed: if executives of the large companies, for which so many people work, took less for themselves and spread out the wealth among the rest of their workers, this issue would not exist. And this problem undoubtedly exists also at Time, where the executives make sure they get nice fat paychecks and pay their workers crumbs. Stop the freakin ' hypocrisy of videos like this one!
Because executives do much harder jobs - they are the heart of the company
@@zachb1706 Indeed, that is why medieval feudal lords were, in my opinion, completely justified in owning serfs and paying them little to nothing. After all, what do they do? Work a whole day in the heat just doing the same agricultural chores? That is valueless and unskilled labour. The royalty deserved near all gold since they have economical AND political responsibility of ruling their region. Feudalism should be brought back, as well as serfdom. Royalties were the heart of a country, as they had the most responsibility. They deserve to reap God’s given fruits while peasants will stay peasants. Progress is regress. Oh yea, and communists. Equality is communist and communism is socialism, which is evil.
Also shipping jobs overseas to pay pennies a day all while being tax exempted for it doesn't help
In a nutshell, white male bad.
An Imperial Guard lol... if your a moron sure.
An Imperial Guard we already knew that..
@Gregg Arsenault just like you
White Supremacy led Capitalism, bad.
According to anti-racists, you bet your ass ‘whitie bad’ 😂
so when I go to mow my clients lawns, I don't get their engineering-level paycheck. Got it. Not seeing the problem here. I learn from my clients and see how money works, so in a few years, I won't have to cut lawns any more. Thats how it works and I can't wait to get mine. If I cut 100 lawns and my competition mows 20, why would he get the same payout? Doesn't make sense and no one with a brain would think it was a bad thing.
This comment should be the top comment.
Ok, but what if the 20 lawns he mows are equal to 100 football fields, and the 100 lawns you mow are the equivalent of 60 football fields?
Ahhh, see that. I just blew a chasm in your argument.
BlackSuave44 My argument, to keep things simple, assumes all "lawns" are equal or at least in the same market based on square footage or commensurate with the same price/unit measured + overhead. If I am cutting that much grass, I am making money - and so is my competition. If he cuts more grass, he makes more money. This is a very simple concept. The rate is not based on how many "football fields" are cut (which, btw, is not how professional adults measure area or anything else).
You didn't blow a "chasm" in any argument, all you did was ask a question any third grader could have helped you with first, and exposed the fact that you can't do basic math. Go find a kid with a backpack (as long as their parents are cool with it) and have her help you out.
Want to try again? Let's not to pat yourself on the back too early this time though, as you have already got too much pie on your face right out the gate after embarrassing yourself in public.
What? America doesn’t even rank top 50 globally. The problem is “the poor” which I guess I would be considered is getting too much financial aid. I know how that sounds but here me out. I’m a black male and at one point in my life I was fired from my job. No biggie, find a new one right? I went on unemployment just until I found myself a new job so that I can afford food and bills that still needed to be paid. I was getting more money collecting unemployment than I was employed. I can easily see if someone becomes content with such wedges and presses an unemployment check to be their main income and maybe even finding quick jobs that pay under the table. I know I wasn’t the only person out here thinking that let alone actually doing it. This would explain a lot of things. Yes the rich are rich but if I’m not rich then I don’t need to worry about people who I’m not. Focus on what you want to do for the rest of your life. Go to school if need be, get the certification or whatever to become what you want to be. Anyone and everyone has the right and ability to do so with enough effort and determination. Nothings handed to you unless the people before you (parents or grandparents) did exactly that. Don’t swing the color card on how black people are less worthy to a dollar than white people. It’s all a fairytale. Plenty of Women make way more than me. And quite frankly most jobs that pay extremely well or higher than the average, woman don’t want to do. But I do see a few here and there. That just drives down the averages and numbers and screws everything up and that’s choice. For instance a plumber can make on average $100 an hour. I would easily say 97% of plumbers are males and that’s not because these companies choose not to hire women plumbers it’s because most woman don’t want to do that work. All in all I believe the destruction of of our financial institution and equality stems from the choices we make and how content we are in the moment. I only feel poor next to a rich man but feel rich next to nobody.
Most conservatives are on board to talk about the issue of income inequality until you start talking about imaginary nonsense like the wage gap and systemic racism.
@@rickis8252 You're an absolute puppet. The democrat party couldn't give a shit less about you. You probably don't even realize the Republican party was created to abolish slavery, yet democrat sheep supporters tear down Lincoln's statue. You need to wake up.
Systemic racism is the blood of capitalism, of course you would call it imaginary.
@@pilotperry4525 It sounds like a bumper sticker slogan I'd see on a Prius next to the, "Coexist". Are there any other empty comments you'd like to regurgitate? Perhaps you'd like to block a public street and bang on the windows belonging to innocent drivers. You morons don't even know what you want or what you're fighting for.
Taco Conch 🖕🏾🖕🏾🖕🏾
Exactly!
I think they are both bad drivers.
Why didn't she mention Nigerian 1st generation Americans which outearn the median household income of whites in the United States?
56% Of American households will be in the top 10% income bracket at some point in their lives, usually when they’re older
Obviously as you get older you have more time to acquire more wealth and skills over time to earn more money than younger people.
Income inequality is primarily not a contrast between rich and poor but of young vs old
Lol that used to be the truth. You must be a boomer. Gen X (younger) and younger generations see stark "class" differences having little to do with age, much to do with legacy.
Also, try being a woman.
So propagandized to think you will one day be in top 10 percent of wealth class in USA... thats millions a yr by the way...
@@travisethridge4062 With a quick google search I found the top 1% of income earners make $800,000 a year or more. The top 10% make $170,000 a year or more
My friend you're the one who's unfortunatly given into the lies that the American dream is dead and no one can climb the social ladder. Both of these are lies stated over and over again by government officals who just want you vote and loyalty. They gain wealth and power off of lying to you and keeping you down.
Don't let them win! The American dream is not dead, income inequality is not as bad as you think, and over half of all Americans will make close to $200 grand a year at some point which is honestly more than anyone ever needs.
The American dream is not dead. Stop giving in to the lies
@@chaoswitch1974 You're the one who's listening to boomers and swallowing their lies. Those polliticans and media outlets who tell you it's hopeless and income inequality is just so bad and teh American dream is dead are just gaining wealth and power off of keeping you down.
Don't let them. I'm a senior economics major and I can tell you future actaully looks pretty bright. Stop believing teh lies and believe in yourself
She is just reading it. I don t believe she knows about any of it. . He is also talking way to FAST. its really not . I'm altering injury that interesting
Documentaries in 2025 be like:
The second rocky planet orbiting Alpha Century Major is not in the Habitatable zone of the Star because of Sexism and Racism. 😄
As if I'd trust you to tell me about income inequality. Mind you, I don't.
Exactly this video was made by a first grader.
So taking money from the rich in the form of taxation and then putting that money in hands of politicians is gonna make the poor richer. LOL!
I love how they turned an income issue into a race and gender issue.
cuz theyr on 1 percents payroll
deviate
Because narrator is a woman
It's because discrimination still exists. Black people are more likely to face a harsher sentence than white people who committed the same crimes.
Yeah, read on compound interest and stop making fools of yourselves
interest is a fascist construct, capitalism is not about making something from nothing.
GiarkReleos lol go back to school. Income doesn’t mean much compared to unrealized capital gains compounded by multiple generations
poohoff - compound interest works best when inflation is minimal. It is better to buy something that increases in value, i.e., buy low & sell high which *_usually_* works with stocks.
There was a marvelous scene in the movie "you've got mail" where they are sitting around commiserating about being put out of business by "The Big Store". 'Birdie' Conrad (Jean Stapleton) calmly says, "Oh, I'll be OK, George (bless his departed sole) bought Intel at the IPO." The implication being that 'Birdie' was working at the bookstore as a hobby.
So, if Geroge and Birdie were "rich" back in 1975, they could have bought 500 shares of Intel at the IPO, the price of two cars then. With all the splits, without reinvesting the dividends, those 500 shares would have become 67,440 shares at the time of the movie and 269,760 shares today. Last year that many shares paid $356,083.20 in dividends. That's pretty good for an $11,250 investment, even in the more valuable 1975 dollars. inflationdata.com/Inflation/Inflation/Cumulative_Inflation_by_Decade.asp#:~:text=But%20as%20you%20can%20see,1913%20would%20cost%20%24234.15%20today!
In socialist russia, there were the peasants and then there were the elitist party members who got nice homes, cars, access to groceries, etc.
Not even close to accurate. So cliche, if you want to earn more, be worth more. Its all on you
So wrong in so many ways..
This is a pretty terrible video. It mentions the income gap between ethnicity, but implies it's caused by racism and fails to mention rates of academic achievement. A study from NCES found that in 2016, 33 percent of Hispanic adults (which I am) failed to finish highschool. There are more and bigger issues affecting the income gap then what this video implies.
Crazy woman talking
OMG this video is wrong about nearly everything you covered. People are not that stupid but you clearly are glossing over this. Liars.
Loony leftie loony tunes. Go on, throw in "orange man bad" while you're at it. If it doesn't make dollars, it doesn't make sense. If this video is the result of your social justice degree, good luck to you in paying off your tuition loan!
Maybe if black people decide to educate themselves to have access to better jobs and womans decided to work the same amount of time as man, there wouldn't be a economical gap to begging with.
no, it has to be bc of sexism and racism
Too complicated for the left
No black ppl need to create their own jobs and companies instead of fighting for jobs
@Roger Wilco yea that's crazy idk y
This may be the stupidest thing I’ve read today. Congrats! 😂
This video is dumb. The real reason there is a wealth gap is because the majority of ppl are not financially educated. Give $2000 to a financially educated person and they will invest in themselves and turn it into 200,000. If you gave 2000 to a person that is not financially educated like the majority of people in this country they will go out and buy things that put them in more debt which in turn keeps them poor. The key is to understand how money works and make the system work in your favor.
So elaborate on that how does one turn 2000 to 200,000
LOL.... propaganda....... total BS video.
another racist rant instead of facts..... grow up, be real and for all: BE HONEST!
oh racism, always racism, never personal responsibility.
As a non American, I find it ludicrous when Americans discuss the economic gap. The US is an extremely capitalistic country. This was bound to happen. They don’t even have free health care. Obviously the country is gonna be unequal. When discussing the establishment of free health care or better social care in general, it is vetoed Bc it’s “communism” and not “democratic”. Just saying.
Fascism !!
I mean it is technically socialism.
As a US citizen, I agree completely. It's actually kinda funny because we boast about freedom and equality for all.
@@theflyingirishman3833 No, universal healthcare isn't socialism. I'm curious as to what you think socialism is.
America is so far to the right that a component of social democracy, an ideology that is barely left of center, is deemed radical.
I think it stems from American propaganda. Thanks to the neoliberal politicians in power and our awful public school systems, citizens are raised to believe that any form of government that would grant them more control of their lives is actually authoritarianism.