r/FluentInFinance • u/ProgressiveSpark • 27d ago

Wealth inequality in America: beliefs, perceptions and reality. Discussion/ Debate

What do Americans think good wealth distribution looks like; what they think actual American wealth inequality looks like; and what American wealth inequality actually is like.

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u/-4u2nv- 27d ago

Nobody? Really? Not one person?

Who did Taylor Swift exploit?

What about Keanu Reeves?

Maybe Tom Brady took advantage of people?

And ALL of those people are rich - because everyone else on the scale gave away money to them.

If we hit a button and the wealth was evenly distributed - everything we know about psychology and economics would say we would end up right here again.

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u/keepcalmandmoomore 26d ago

Could you like me to 1 article in the mass of "everything we know about psychology and economics" which says we would end up here again?

Cause I don't believe this, at all. Reason probably is because I don't live in the US and I see a lot of examples which are more hopeful.

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u/PussyMoneySpeed69 26d ago

How would a more progressive tax code not flatten the curve?

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u/Particular_Mouse_600 26d ago

Musk, Bezos, Gates, and other multibillionaires are who they’re talking about. A study back in 2016 showed that just 8 men in the world owned more money than 50% of the worlds population. It’s much more than that now

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u/ohseetea 26d ago

What lol? Those people, as much as we love them and their art are definitely taking advantage of the system in the video above. I would easily say that a lot of the wealth they have "earned" is likely "morally unjustly" earned. It's just so obfuscated that it's hard to conceptualize.

Also maybe? Why instead of just hitting a reset button we learn our lesson and change our laws and culture? Then it wouldn't end up right here again, or if it did - at least it would be because the rules changed once again in favor of exploitation and "merit" (huge joke that sentiment is) and can be another data point for the next taken advantage of generation.

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u/Tomatoesarentfruit 25d ago

I don’t understand why people cling to this concept of “all rich people are immoral.” As someone who grew up extremely poor and has worked to be in the 1%, I can tell you that 1) I did not exploit anyone to do it and 2) the journey taught me that, yes while flawed, a capitalist, free market system is superior to anything else available anywhere else in the world.

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u/ohseetea 23d ago edited 23d ago

You absolutely did and do. I do too. The whole system is built on some amount of exploitation and the higher up you are the more exploitation you’re likely committing. Also just because it’s the best currently doesn’t mean it’s good at all? Blood letting was the best solution at one point too.

Staying blind to this and hiding behind personal anecdote is a big part of the problem. Good for you for working hard but I promise a lot of your success did not come from your own hands. Shoulders of giants (read backs of exploited).

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u/Tomatoesarentfruit 22d ago

Not sure how you can say this with any degree of confidence given you have no idea what I do / have done to become successful. Sure I guess you could say maybe 100% of my success was not my work as there was maybe some luck involved? But there was certainly no exploitation - you have no idea what your are talking about. For the record, I run a very small (small headcount wise) B to B enterprise software company. I wrote 99% of the code for the product myself, the employees I have now just help me maintain and fix bugs, and for this work I pay them extremely well. Also fine I will ammend my initial statement - the free market system is a GOOD system. It has pulled millions our of poverty, it has raised the quality of life and living standards for millions. It is a system that rewards value creation and little else.

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u/Napoleons_Peen 26d ago

“H-h-hey you leave my heckin wholesome Keanu out of this! T-T-Tom to he’s just a good football man.” - you. Grow up. All of those people are still taking advantage of the system and have access to things you could never dream of, in order to maintain their wealth.