Well Fuck

[Noodle 133]

You also have to look at how much that percent of the nation's wealth is... $54 trillion.

So 1% of all Americans have a total net worth of... $21.6 trillion.

Total US population is around 315 billion people.

So 3.15 billion people have a total of $21.6 trillion dollars net worth between them.

That amounts to roughly $6860 of net worth of one person out of every 100.

Alternatively the bottom 80% only has 7% of the wealth or $3.78 trillion

80% of 315 billion people is 252 billion people sharing $3.78 trillion of net worth.

Which amounts to roughly $15 of net worth per eighty people out of 100.

So about 60 billion of the other 19% of Americans share 53% of the wealth... which is $28.62 trillion

Which means, $59.85 billion Americans share $28.62 trillion.

So 19 out of 100 Americans have a net worth of roughly $420.

Net worth being your asset value minus your liabilities. Or the value of everything you own minus the amount of items that you do not own but you are in possession of (like taking out a loan, the loan is your liability).

tl;dr

True. Not at all surprising.

[Christmas 643]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

[ChosenOne2000 4440]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

[Noodle 133]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Bitch, life is a casino. All the decks are fair, some people just suck hard at betting.

[Christmas 643]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

Edited April 5, 2013 by Christmas

[Noodle 133]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting?

That's the way it works. Whether you learn is up to you.

[LOPEZ 1750]

and here I am in the Netherlands, we're doing just fine guys.

[Christmas 643]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting?

That's the way it works. Whether you learn is up to you.

[Noodle 133]

and here I am in the Netherlands, we're doing just fine guys.

They have the Nice Peace in Netherlands

[LOPEZ 1750]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting?

That's the way it works. Whether you learn is up to you.

P.S - I've been to both, there's a huge difference.

[ChosenOne2000 4440]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

All I see are excuses. None of my degrees are from big named schools. Its what you do with them that matters.

[Christmas 643]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

All I see are excuses. None of my degrees are from big named schools. Its what you do with them that matters.

I didn't mention big name schools.

[Oreo 2073]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

All I see are excuses. None of my degrees are from big named schools. Its what you do with them that matters.

I didn't mention big name schools.

An expensive private school is usually considered higher than a public school in the suburbs. You're implying that a big name school such as Harvard would get you farther in life than a less known public school such as the University of Georgia. This is untrue.

Edited April 5, 2013 by Oreo

[Christmas 643]

I like how people assume that

Or, strive to be smart with money, choose a good career, and invest early and often

If you even get the chance to do any of that. Hard to play the game when you are playing against a stacked deck.

What stacked deck?

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

All I see are excuses. None of my degrees are from big named schools. Its what you do with them that matters.

I didn't mention big name schools.

An expensive private school is usually considered higher than a public school in the suburbs. You're implying that a big name school such as Harvard would get you farther in life than a less known public school such as the University of Georgia. This is untrue.

I was talking about compulsory education. Sorry I didn't make that clear. And I am trying to illustrate a point about "equal opportunity." Just because someone makes a low wage and has trouble making ends meet doesn't mean they didn't work hard enough for it.

Edited April 5, 2013 by Christmas

[Dyscivist 5686]

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

People are not born into the same privileges based on their parents' wealth. People are not offered the same opportunities based on their circumstances, ethnicity, contacts, and otherwise. People are not naturally afforded the same abilities intellectually or physically, either. Equality is not the norm. It shouldn't be expected, and it doesn't exist without intervention.

Also, IQ correlates incredibly highly with wealth and earning potential. People can definitely make their ways out of shitty scenarios of they have the mental prowess. It's been demonstrated empirically.

Edited April 5, 2013 by Dyscivist

[Christmas 643]

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

People are not born into the same privileges based on their parent's wealth. People are not offered the same opportunities based on their circumstances, ethnicity, contacts, and otherwise. People are not naturally afforded the same abilities intellectually or physically, either. Equality is not the norm. It shouldn't be expected, and it doesn't exist without intervention.

Also, IQ correlates incredibly highly with wealth and earning potential. People can definitely make their ways out of shitty scenarios of they have the mental prowess. It's been demonstrated empirically.

I'm not trying to say "hey lets make sure everything is equal all the time", I am simply stating that "working hard means you will end up fine" is a cop-out to the idea of "wealth inequality."

And no, I am not stating that it is impossible to get out of a shitty situation. Never even implied it.

[Oreo 2073]

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

People are not born into the same privileges based on their parents' wealth. People are not offered the same opportunities based on their circumstances, ethnicity, contacts, and otherwise. People are not naturally afforded the same abilities intellectually or physically, either. Equality is not the norm. It shouldn't be expected, and it doesn't exist without intervention.

Also, IQ correlates incredibly highly with wealth and earning potential. People can definitely make their ways out of shitty scenarios of they have the mental prowess. It's been demonstrated empirically.

Adding on to this, wages will never be equal to how hard you work in most jobs. Rather, they'll be equal to how much profit your industry makes through it's selling of goods/services/etc.

[Noodle 133]

Are you implying Person A who goes to an expensive private school gets the same education as Person B who goes to a public school in the suburbs or Person C who goes to a school in an urban setting? To continue do you believe they are afforded the same kinds of opportunities for post-secondary education and careers, and the same chances to make money and save money?

Saying "as long as you work hard you will be fine" seems like a cop-out to me.

People are not born into the same privileges based on their parents' wealth. People are not offered the same opportunities based on their circumstances, ethnicity, contacts, and otherwise. People are not naturally afforded the same abilities intellectually or physically, either. Equality is not the norm. It shouldn't be expected, and it doesn't exist without intervention.

Also, IQ correlates incredibly highly with wealth and earning potential. People can definitely make their ways out of shitty scenarios of they have the mental prowess. It's been demonstrated empirically.

Adding on to this, wages will never be equal to how hard you work in most jobs. Rather, they'll be equal to how much profit your industry makes through it's selling of goods/services/etc.

Capitalism at it's finest

[ChosenOne2000 4440]

It's a democracy people. Everyone isn't meant to start and end on equal footing. Someone has to take my order at McDonalds. You may start at McDonalds, but its up to you if you finish at McDonalds...

[TeflonAssassin 63]

It's a democracy people. Everyone isn't meant to start and end on equal footing. Someone has to take my order at McDonalds. You may start at McDonalds, but its up to you if you finish at McDonalds...

I would call it a rigged democracy with an extremely unequal distribution of wealth. I do agree that it is up to you to climb whatever ladder to success you see fit but it is not constructed so that you can climb the ladder to the top 10% of wealth, you inherit that position.

[fatb0y 1337]

This is a product of American principles... If you don't like it, get out and go to a socialist country where the gov't will give you relief for being useless.

[Siesan 1802]

the reason the 1% has so much money is because a majority of the 99% are shitheads who don't care about economy or government. We actually live in an america where people think that economy and politics won't effect them. So yeah, we could get some wealth back from that 1%, but first you gotta convince the rest of the 99% to stop being shitheads.

[Oreo 2073]

the reason the 1% has so much money is because a majority of the 99% are shitheads who don't care about economy or government. We actually live in an america where people think that economy and politics won't effect them. So yeah, we could get some wealth back from that 1%, but first you gotta convince the rest of the 99% to stop being shitheads.

Are you stupid?

[Dyscivist 5686]

The annoyance I have is people misattributing the wealth disparity to a lack of regulations and not understanding that the term "regulation" is really just referring to government controls and is self-confirming in its terminology, and depending on where the interests of the people in power lie they can and often do end up mostly just making it difficult to start up a company and are intentionally forged to benefit the existing corporate pseudo-monopolies that support the existing government.

Edited April 5, 2013 by Dyscivist

[Dojima 7619]

Total US population is around 315 billion people.

ahaha, I love how you did all that work based on a mistake.

Also, IQ correlates incredibly highly with wealth and earning potential. People can definitely make their ways out of shitty scenarios of they have the mental prowess.

To a point, it does. And even dumb people can make it out of shitty situations. Circumstance is a far more substantial determinant of someone's future, though, which is kind of more to the point.