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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (186277)	3/29/2012 6:54:49 PM
From: Bread Upon The Water	Respond to of 542153

"The really sad thing is, while China builds a strong middle class, with it's benefits of having the wealth of the country well distributed, we're in the process of destroying ours, and moving to the third world model of very wealthy and the poor." We've always been able to self correct in the past although sometimes it would take 30-50 years. Just think how long it took for the 40 hour work week and minimum wage laws to get enacted from the time they were first advocated by unions and the socialists in the late 1800's and early 1900's. Eventually we did what was right. Although I will say we were, ostensibly anyway, a much more Christian nation at that time (in terms of church attendance) and I think that helped get those things passed. And even if we get to the point of default on our debt, our glorious infrastructure and land won't disappear overnite and we should have the means to come back given the resilience of our political system.

To: bentway who wrote (186277)	3/29/2012 8:48:22 PM
From: KyrosL	Read Replies (2) \| Respond to of 542153

while China builds a strong middle class, with it's benefits of having the wealth of the country well distributed, we're in the process of destroying ours, and moving to the third world model of very wealthy and the poor Actually, China's income distribution is deteriorating much faster than the USA, and already China is more unequal than the USA. China's Gini Index, which measures income inequality is higher than the USA's -- the higher the index, the more inequality. Between 2007 and 2009 China's Gini index increased from 41.5 to 48, which is a truly spectacular rise. USA's Gini index in 2007 was 45. A decade before, in 1997, in was 40.8. Check it out. cia.gov cia.gov