patrick.net

How about this, then. There is no contribution that an individual can make that would cause such an impact on society that their compensation should be astronomically larger than anyone else.

And no, the disparity is not "good" (if that word has any meaning) for society. It breeds hatred, envy, lust and pride. If those mean anything.

Agreed Tesh.

I'm reminded of the disenfranchised young men in polygamous communities. There we see the results of economic disparity, artificially forced by polygamy. These young men can never have even one wife, and of course, no children. They are left to live on the outskirts of town without any means for or access to economic growth. They are ripe for terrorists groups, looking for young men who have nothing to live for, nothing to lose.

It's a dire example of how disparity can play out. I'd prefer a society where the rungs of the ladder are maintained, so that anyone can climb (or fall) freely. Knock out the middle rungs and we create a subculture of throw aways.

Hi Jimbo,
Your points are very well taken, and at least paint a picture of the very worst in this country. Your stats are good, I would point out again, that yes you can go to the very worst neighborhoods and get a stat equal to a war torn country's overall rate. Iraq has some safe, and some very unsafe areas as compared to a gang infested neighborhood. As a society it should be a goal to have no areas left like this, but you have to eventually conceed that these situations are so small that statistically they aren't significant, and perpetuate an exageration when these small hot spots are held up as the example of what a typical poor neighborhood in America is like.

"Here's what's really going on behind closed doors in affluent America"

http://tinyurl.com/27rkhb

Fair enough, not everyone lives in such dangerous neighborhoods, but the poor in America live lives that are vastly more dangerous than the poor in any other 1st world country. Sure, it is better than Tijuana, but that is hardly something to aspire to.

The poor in America generally are fed, generally are housed and live in less violent regions that most of the world's poor and this is something to recognize. But compared to other developed nations, we are doing badly, that is my point.

Cable TV and cell phones are the new drugs of choice, Bap; the new addition to the cigarette and beer stable. If people knew how to prioritize their money (and stifle addictions), things would be different.

Harm,

I live in Bucarmanga, in the state of Santander. Been pretty much all over the country...not the jungles or southern half however. Lots of time in Bogota. I have been there 1 1/2 years. My Colombian husband and I bring US & European paragliding tourists there to fly and see the country. Actually, at this moment, I am back in California for about a month, to visit family and do some business.

He who makes the laws? He who has the most money to buy the courts?
:shrug:

Or are we talking about ultimate laws of theology and such, because any time these things are left to people, they will be botched.

Not unnoticed, nor ungrieved, Sid. It's one of the biggest mistakes in US history.

There is also the notion that our economy has progressed to the point where wealth disparity is unlikely to lead to the kinds of social/political unrest it has in the past (French, Russian Revolutions, etc.), because for the most part, citizens' basic physical needs are still being met. A.k.a., the "bread and circuses" argument

I have a feeling that Sportsball is really on the decline, esp. with the younger generations.

AmericanKulak says

I have a feeling that Sportsball is really on the decline, esp. with the younger generations.

Too much to do. All you have is the the NBA, MLB, NHL, NFL and throw in Tennis and golf I guess? Everyone knows they aren't gonna make it statistically, so less interest. My kids are done with baseball. My oldest would rather play volleyball. Golf. The others are good with golf, track, soccer, etc.

Football is going away. Too much brain damage.

Sports tourism (softball, soccer, baseball and lacrosse tournaments) is becoming the rage in Panama City Beach, especially at the newly built Panama City Beach Sports Complex.

Its a tourism magnet from Tennessee and Georgia rich white suburbs as they come down for the sports tournament and then spend a few days on the beach after it.

The bottom 50% don’t own squat.

GNL says

The bottom 50% don’t own squat.

Own or pay. Getting into tax prep mode already. We'll be $40k deep this year I think. Withdrawn as a W-2 employee so we usually never owe and don't take all our exemptions. Loan to the cock sucking government. I don't want to owe though, especially right now. Need to be $150-200k liquid cash.

The bottom 50% is true. It grinds my nutts when people talk about taxes. I know their pay. I'm nice about it. But I know you paid nothing into the system, yet bitch about paying no taxes. We need better high school education on economics. People that think they're paying taxes have no clue they're not.

https://boriquagato.substack.com/p/rethinking-the-way-you-think-about

Having wealth isn't hard; discipline is.

The key is your power to earn is less effective over decades than the power of compounding.

If you invested just $500/month in the S&P 500 index from 1992 until today, you'd have $1 million 95 thousand.

In my life I have observed that discipline is as rare as brains; I have told so many friends what do do and they will not stop their wasteful habits.

I have made much more money from my investments than from my working.

Plus Trump going full moron demanding lower rates constantly while simultaneously screaming that economy is best ever.

This is what happens when we allow CCP and KGB propaganda run
rampant in our information space

Just after I retired I inherited some money; however my net worth was considerable by that time.

I had planned on not getting anything so I was a fanatical saver and investor for decades. As it turned out, it wasn't necessary.

The inheritance is actually now making my situation a bit weird; I'm going to start giving some away this year.

My father was a bit surprised when I mentioned my net worth since he had earned much more but also worked much longer than I.

When my RMDs begin I will probably give more away in those years; I have not converted all of my IRA and SEP-IRA to Roth IRA.

I'm going to start giving some away this year.

clambo says

I'm going to start giving some away this year.

Take a cue from other wealthy folks and fund the betterment of your offspring, relatives, others - pay for their education.

I froze my ass off in Northern California waters. I was frequently pissed off I wasn't in a toasty office and instead going out in a boat or scuba diving in sharky waters,