Inequality Is Killing The American Dream

[notdeplorable]

Decades of rising income inequality and slowing economic growth have eroded a pillar of the American dream: the hope that each generation will do better than the one that came before, according to new research released Thursday.

If the findings hold up, they have profound economic, social and even political implications. The decline in what economists call “mobility” — how easy it is to move up the income ladder over a lifetime or across generations — has been especially stark in the Rust Belt states that helped propel Donald Trump to victory in last month’s presidential election.

In 1970, according to the research, conducted by Stanford economist Raj Chetty and several co-authors, roughly nine out of every 10 American 30-year-olds earned more than their parents did at the same age, after adjusting for inflation. In 2014, only half of 30-year-olds could say the same. The slowdown in mobility shows up in all 50 states and is true across the income spectrum. The biggest declines were among the children of middle-class families.

http://fivethirtyeight.com/features/inequality-is-killing-the-american-dream/

[Nay]

1. It's all proceeding according to the plan. The rich and well-connected are

methodically looting the country for their own gain. A few more years of this and they will be buying up swaths of land, national parks, etc., and will be ruling their own little fiefdoms, just like the old days. And if the formerly-free Americans don't like it, they'll be made dead.

Oh, by the way, all those nimrods with all the gunz who are out there shooting off their mouths about freedumb? The rich will hire them at a paltry wage and point them at the "libruls" (which will be everyone they don't want, no matter their real political position) and tell them to shoot. And the nimrods will be happy to, for the price of three hots and a cot.

[golfguru]

2. Yes, the rich donor class controls all politticians

The rich donor class benefits with $800 Billion annual trade deficits.
For example Apple makes bigger profits by exporting manufacturing to China.
And what is left of American industry benefits by importing cheap foreign workers
and degrade American middle class wages.

[Justo]

3. Bernie or Bust

Hi!

I went to a recent talk by Marco Vangelisti. He has a compelling argument for economic democracy. I recommend following this page to stay updated on some key ideas that are building momentum around the world.

https://www.facebook.com/EssentialKnowledge4Transition/

Also, I created a spoken word project for a graduate school course. Could you give it a listen and let me know if it hits the mark of creating a call to action for economic democracy and could be compelling to rural America?

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[gopiscrap]

4. welcome to DU