The extent of inequality in the US

[DC Al Fine]

The present value of social security can only be considered $0 as Social Security is under the considerable risk that Congress can defund it at any time it chooses.

That doesn't fit the accounting standards for writing off assets. You have to make a best estimate of what the cash flows/interest rates will be and go from there.

[DC Al Fine]

Yet I have seen polls that 70% or something are hostile to the estate tax. Go figure.

As I said, the right (and its corporate allies) is pretty good at manipulating the public into supporting things that goes diametrically against their interests and their aspirations.

Just have the people cling to their "guns and religion..." while you steal all the money.  So Obama was right once again.

There's an easy way to fix this... Stop being so anti-gun/religion. Seriously, I would vote Dem in a heartbeat if I thought they would end abortion.

[DC Al Fine]

Just as an FYI, the video is very misleading and based on a poor understanding of economics. Wealth distribution is naturally very unequal and it's not much of a social problem either. It's income distribution which is relevant and that's probably also what people were thinking of when saying what distribution they want.

There's also peoples' inability to deal with large numbers. The difference between a net work of $200 000, $500 000 and $2 000 000 doesn't necessarily lead to very different lifestyles.

[DC Al Fine]

I think this finding is more a result of people not understanding percentages and distribution functions more than anything else.

Amen

[DC Al Fine]

If Romney was spending all of his income, that would be great! He would be returning the money into the economy, which is how capitalism is supposed to work. What he and most rich people to is sit on the money, which doesn't circulate it, causing inflation and inequality.

Hatman, do you think he built a giant swimming pool for his millions? No, the money is invested and companies make purchases with his capital. Obviously a degree of equality is desirable for social cohesion, but making blatantly false assertions about what happens to rich people's money is just silly.

[DC Al Fine]

If Romney was spending all of his income, that would be great! He would be returning the money into the economy, which is how capitalism is supposed to work. What he and most rich people to is sit on the money, which doesn't circulate it, causing inflation and inequality.

Hatman, do you think he built a giant swimming pool for his millions? No, the money is invested and companies make purchases with his capital. Obviously a degree of equality is desirable for social cohesion, but making blatantly false assertions about what happens to rich people's money is just silly.

So, all of his money is "invested" then? I doubt every last cent is.

Hatman, if he's not spending it, and he's not investing it, where do you think his money is? Even if it's in a savings account, the bank can loan out the money for mortgages etc.

[DC Al Fine]

If Romney was spending all of his income, that would be great! He would be returning the money into the economy, which is how capitalism is supposed to work. What he and most rich people to is sit on the money, which doesn't circulate it, causing inflation and inequality.

Hatman, do you think he built a giant swimming pool for his millions? No, the money is invested and companies make purchases with his capital. Obviously a degree of equality is desirable for social cohesion, but making blatantly false assertions about what happens to rich people's money is just silly.

So, all of his money is "invested" then? I doubt every last cent is.

Hatman, if he's not spending it, and he's not investing it, where do you think his money is? Even if it's in a savings account, the bank can loan out the money for mortgages etc.

So, his money is getting "borrowed". That's not really using his money, because he still gets to keep that money, as the borrowers will be indebted to the bank. I'm talking about using his money by having it spent. That's how you get the economy going. Borrowing just puts people into debt, which leads to the problems we have had the last few years. 

Lending money and having it spent are not mutually exclusive options. Case in point, anyone who has bought anything on credit ever.