View Single Post
  #7  
Old 02-28-2003, 12:34 PM
adios adios is offline
Senior Member
 
Join Date: Sep 2002
Posts: 2,298
Default Re: \"the rich get richer\"

If you measure the populations wealth in the USA by the personal distribution of income there is no doubt that over the last 20 years (since Reagan) that the top income earning households are making a bigger share of the available income. The statistics are given such that the households are broken up into quintiles (groups of 20% of the income producers). The top income producing quintile I believe is making 52% of the household income of the USA up from 48% when Reagan took office. I'm quoting those numbers from memory so I'll have to double check them. So I would say that indeed the rich are getting richer. One of the reason's is that transfer payments have declined significantly for the disenfranchised. What it all means is that over the last 20 years the USA has moved more in the direction of pure capitalism than socialism. As far as Gates's asset values declining, the stock market was simply much higher so his assets were valued higher. Markets fluctuate a lot and it's clear now that the stock market reached a multi-year high which won't be seen again anytime soon. As far as a black woman becoming a billionaire, I think it says something very positive about the opportunities available here to make money.
Reply With Quote