Why Bernie is making such a huge issue of income inequality, poverty & minimum wage

[pinebox]

This week, Credit Suisse released it's report on Global Wealth Book.
In it, they found that one in every 10 American's is living in poverty. Think about that for a second.
We sit around here and argue which candidate is best while one supports a national minimum wage of $15/hr and one supports a minimum wage of $12/hr. If we're going to life people up out of poverty, that $3 difference is pretty huge.
That's $120/week difference, that's groceries. That's $480/mo. That's rent for a studio.

I'm not going to copy and paste everything and just the top 3 & if you want to read the whole article which is eye opening, have at it

The New American Exceptionalism----According to new Credit Suisse data, one out of 10 of the world’s poorest adults is an American. - See more at: http://inequality.org/2015-wealth-data/#sthash.Bbx63s91.dpuf

Bernie Sanders showed his outrage about inequality at the Democratic Debate, and more and more Americans are understanding his message. Indignation is likely to grow with new data from the Credit Suisse Global Wealth Databook, which reveals the wealthy elite’s continuing disdain for the poor, for the middle class, and for people all around the world. Some of the most troubling disparities are hidden in the myriad tables of this remarkably comprehensive publication. The purpose here is to translate the numbers into wealth gap realities that victimize the great majority of Americans. Details can be viewed at You Deserve Facts. http://youdeservefacts.org/20151019_Analysis.txt

1. At the Bottom: Of the Half-Billion Poorest Adults in the World, One out of Ten is an American. That seems impossible, with so many extremely poor countries, and it requires a second look at the data, and then a third look. But it’s true. In the world’s poorest decile (bottom 10%), one out of ten are Americans, many of whom are burdened with so much debt that any remnant of tangible wealth is negated. Other nations have high debt, most notably in Europe, but without an excessive burden on their poorest citizens. Incredibly, then, nearly 50 million of America’s 243 million adults are part of the world’s poorest 10%. In contrast, over 110 million American adults are among the world’s richest 10%. 2. At the Top: The Richest 1/10 of American Adults Have Averaged Over $1 Million Each in New Wealth Since the Recession Housing rebound? Mostly for the rich, along with their taking of almost all the financial wealth. Total U.S. wealth increased by a stunning 60 percent since 2009, from $54 trillion to $86 trillion, but 3/4 of that massive increase went to the richest 10% of Americans. The average one-percenter has accumulated $5 MILLION since the recession. 3. In the Middle: The US is the Only Region Where the Middle-Class Does Not Own Its Equivalent Share of Wealth The North American middle class, as defined by Credit Suisse, and of which the U.S. is by far the largest part, has 39% of the people but only 21 percent of national wealth. Every other region of the world shows the reverse phenomenon, with the middle class owning an oversized portion of national wealth. The Credit Suisse Global Wealth Report states: “The average wealth of middle-class adults in North America is barely half the average for all adults. In contrast, middle-class wealth per adult in Europe is 130% of the regional average; the middle class in China is three times better off in wealth terms than the country as a whole; and the average wealth of the middle class in both India and Africa is ten times the level of those in the rest of the population.”

2. At the Top: The Richest 1/10 of American Adults Have Averaged Over $1 Million Each in New Wealth Since the Recession Housing rebound? Mostly for the rich, along with their taking of almost all the financial wealth. Total U.S. wealth increased by a stunning 60 percent since 2009, from $54 trillion to $86 trillion, but 3/4 of that massive increase went to the richest 10% of Americans. The average one-percenter has accumulated $5 MILLION since the recession.

3. In the Middle: The US is the Only Region Where the Middle-Class Does Not Own Its Equivalent Share of Wealth
The North American middle class, as defined by Credit Suisse, and of which the U.S. is by far the largest part, has 39% of the people but only 21 percent of national wealth. Every other region of the world shows the reverse phenomenon, with the middle class owning an oversized portion of national wealth. The Credit Suisse Global Wealth Report states: “The average wealth of middle-class adults in North America is barely half the average for all adults. In contrast, middle-class wealth per adult in Europe is 130% of the regional average; the middle class in China is three times better off in wealth terms than the country as a whole; and the average wealth of the middle class in both India and Africa is ten times the level of those in the rest of the population.”

[Armstead]

1. What's ironic is this

They produce a report on global wealth and poverty, while also contributing to the downward spiral. What a world.

http://economictimes.indiatimes.com/jobs/credit-suisse-considers-moving-nearly-2000-uk-jobs-to-india/articleshow/49494496.cms

LONDON: Swiss banking group Credit Suisse plans to cut nearly 2,000 jobs at its London base and move some of them to cheaper locations like India and Poland, a media report said today.

One of the world's largest investment banks has indicated that about a third of its British workforce, who are based mainly in Canary Wharf in the financial hub of London, could go to cut costs.

"We have 6,600 jobs [in London], 2,400 front office, 4,200 back office. Out of the 4,200 about 2,400 ..

Read more at:
http://economictimes.indiatimes.com/articleshow/49494496.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

[zalinda]

2. This will continue to keep happening until

countries make rules to stop it. No country wants to be accused of protectionism, but there is something that could be done, and it would be fair.

If you make money in a country, you have to have employees and/or pay taxes in proportion to the amount of money you make in that country. It is absolutely ridiculous that Nike, Apple and others make huge sums of money from this country and give so little back. It's like legal theft.

Z

[pinebox]

4. ehhh

Poland though is EU so I don't see that as a huge issue, India however is a different story entirely.
Wait, your link is from Indiatimes? Ok, call me confused now lol

[deathrind]

3. It's a big issue...

Because money is a resource just like water / food / energy etc. When a small percentage has the majority of it the rest suffer.

No one on this planet is worth the millions of dollars some get paid.

CF is a great example. She virtually destroyed a company yet got millions for being fired no less.

[rhett o rick]

5. I believe that global freedoms and liberties are the biggest issue facing us today.

But a close second is economic justice.

What I see as ironic is those clamoring for the solutions for specific social justice issues are willing to choose a candidate that clearly represents wealth inequality but may promise some minor specific social justice, over a candidate that is clearly fighting for social justice PLUS economic justice. It's short sighted to claim that fighting for economic justice precludes fighting for social justice. They go hand in hand. While economic justice will not insure social justice, it should be clear that without economic justice there can be no social justice. Without democracy, there can be no social justice.

It's a strawman argument to claim that those fighting for economic justice aren't fighting for social justice.

It should be obvious that the oligarchy (billionaires, the major corporations, and Wall Street) DO NOT CARE ABOUT SOCIAL JUSTICE. In fact they manipulate social justice issues to distract the masses from their corruption.

Why support a candidate that has close ties to the oligarchy, even if they make promises that counter the goals of their corporate sponsors, when there is a candidate available that has no strings tied to the oligarchy?

[Uncle Joe]

6. Kicked and recommended.

Thanks for the thread, pinebox.