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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (181427)	1/23/2004 7:25:39 AM
From: Road Walker	Read Replies (2) \| Respond to of 1572376

Ted, re: Because the rich are getting richer at a faster rate than we are adding wealth. From the wsj this morning, in Q403, earnings of the bottom 10% of workers declined 5% while earnings of the top 10% increase 1.5%. It's a trend, not just a data point. John

To: tejek who wrote (181427)	1/26/2004 2:35:52 PM
From: TimF	Read Replies (1) \| Respond to of 1572376

Because the rich are getting richer at a faster rate than we are adding wealth. That means a greater percentage of our wealth is concentrated in their hands. The long run trend is that we are all getting wealthier. Even the people at the bottom are. The people at the bottom over time are not the same people from year to year. Many of them are poor immigrants legal or otherwise. They move in and work for peanuts and they might be poorer then the people at the bottom before all the immigrants moved in but in the mean time many of the people who where previously at the bottom are better off then they used to be and the new people at the bottom are better off then they where before they came to the US. "The rich get richer while the poor get poorer" is not always true and even when it is it doesn't mean that the rich and the poor are the same people before and after this change. A different group of people are at the top and bottom 1% and 5%. If you wait a long enough time between the two points that you are measureing to smooth out short term fluctuations you'll find that in the long run people in general are getting wealthier not just the richest people. Tim