#Wealth Distribution

[political-us]

[mcromwell]

Are they ripping the net open to share with their hungry kin? Or do they reel the net in, trapping all the fish for themselves?

"Wealth" 9"x12" Acrylic, spray paint, handmade paper fish, and plastic netting on canvas Available for collection

[alwaysbewoke]

[haley-harrison]

so ticked off when I hear "the youth is too leftist" or "young people are radicalized". bitch if we were, we'd be seizing the means of production. i personally think we aren't left and radical enough

[unbfacts]

Buffett has revised his plan to donate his fortune to the Gates Foundation in the future. Instead, he now plans to let his children decide.

[seoulciology]

wealth distribution in the us

i am making this post because my brother showed me a really good video that i think most people should watch. although this is not directly korea-related, in the words of bong-joon ho, “we all live under one country: capitalism.”

this video offers an insight on how unfair wealth distribution is under america, and it was created 12 years ago, meaning this unimaginably steep slope has increased. this may be about the us specifically, but most other countries in the world can see a similar slope because of unfair power distribution.

why does this impact korea?

korea, like a lot of other countries, suffered an unimaginable impact from the idea of the “american dream”. however, unlike countries like those in the balkans, for example, this wasn’t just an ideological spread, this was directly pushed on korea during it’s industrialisation because the industrialisation was funded and processed for the benefit of rich, powerful americans.

korea works the way it does under capitalism because that is what america funded it to be as opposed to it’s communist counterparts during the cold war and the korean war. though this is an assumption, i would assume there is a similar slope in korea, especially when considering chaebol families and how small differences in their society from western ones (like the importance of hierarchy) could emphasise this.

this is supported by some statistics i found, including the claim from the korea times that korea’s 10% holds 45% of income shares, a stark difference to its other asian and oceanic counterparts.

conclusion

if you’re interested in economy, sociology, or just the state of the world, this video is only 6 minutes, and it’s really easy to understand. i hope you enjoyed this little blog!

side note about future posts: i will probably be posting many squid game blogs nearing and following the release of season 3, but i will try to pepper in some more serious sociological analyses!

[nando161mando]

What a cool and informative graphic that doesn't and shouldn't radicalize people whatsoever!

[omegaphilosophia]

Balancing Wealth in Society: The Case for a Floor for the Poor and a Ceiling for the Rich

The idea that society should provide a "floor" for the poor and a "ceiling" for the rich stems from concerns around fairness, opportunity, and social stability. Here’s an outline of the reasoning:

1. Ensuring Basic Human Dignity and Opportunity for All (The Floor)

Basic Needs and Security: Establishing a minimum standard of living (e.g., housing, healthcare, education) ensures that everyone can live with dignity. It aims to prevent poverty from being a barrier to personal development and societal contribution.

Equal Opportunity: A social "floor" supports the idea that everyone should have a fair shot at success, regardless of birth circumstances. If people can access education, healthcare, and stable living conditions, they are better positioned to participate in society and the economy.

Economic Productivity: A healthier, better-educated population can contribute more effectively to the economy. Reducing extreme poverty is not only a moral issue but also an investment in human capital that benefits society as a whole.

2. Preventing Excessive Wealth Concentration (The Ceiling)

Power Imbalance and Democracy: When wealth accumulates excessively at the top, it often leads to disproportionate influence in politics, the economy, and media. A "ceiling" helps limit the risk of oligarchy, where a small elite may control policies in ways that benefit themselves over the broader population.

Resource Distribution and Social Cohesion: Concentrated wealth often translates into concentrated resources, such as land, labor, and technology, which can create economic inefficiencies and inequality. A ceiling helps redistribute resources to create a more balanced society, reducing tensions and potential social unrest.

Encouraging Social Responsibility: When wealth accumulation has an upper limit, it encourages the wealthy to focus on the broader impact of their success. This can promote reinvestment into society, philanthropy, and sustainable business practices rather than endless personal wealth expansion.

3. Reducing Economic Inefficiencies and Promoting Innovation

Promoting Circulation of Wealth: Wealth ceilings can lead to increased investment in public goods, infrastructure, and innovation. When excess wealth is capped, more resources may go into sectors that support public benefit rather than just individual enrichment.

Incentivizing Innovation Over Rent-Seeking: With a wealth ceiling, economic success would ideally shift focus from mere wealth accumulation to creative, impactful, and innovative contributions. This encourages businesses and individuals to prioritize improvements that benefit broader society.

A "floor" and "ceiling" model aims to strike a balance between ensuring that everyone has a fair chance to succeed and preventing the negative consequences of excessive wealth concentration. In this framework, everyone is better positioned to contribute meaningfully to society, fostering a more equitable, stable, and dynamic community.

[sordidamok]

There's a lot of great "eat the rich" art out there. The problem is the rich aren't afraid. They know the odds against them becoming dinner are pretty long. Really, who would want to eat them?

Taxing them is another matter. In the 1950s, when the US economy was the best it's ever been, the top tax rate was 80%. It's time we got back to that.

Or... I'm a vegetarian, but I know how to butcher hogs.

[irrepressible-domovoy]

I will never get over the blatant and unapologetic predatory behavior towards poor people.

There's the study done back in the day on the cost of boots poor v. rich, but on a smaller, more recent note, most poor people have to use a laundromat and the cost to the person v. laundromat is absolutely insane.

A single load of laundry in our average washing machine takes about 5¢ to 25¢ per load of water and 15¢ to 30¢ per load of electricity (20¢ to 55¢ in total/load) so you'd think that the cost wouldn't be too high, even calculating in the wages of the one employee on staff and the small deductible for upkeep around the laundromat, especially with the number of people in the laundromat at any given time and considering people are usually doing multiple loads at a time.

The average cost of a single load in a washer is between $5 and $10, on average in a laundromat.

$5, I can give a pass to a point, but closer to $10 is the price I see most often (or even more) and the only thing I ever hear in response to this is "well, I guess you need to buy your own washer!"

I just... The quiet theft of everything we own, penny by penny, moment by moment, will never sit well with me.

[political-us]

Kash Patel, recently confirmed as the Director of the Federal Bureau of Investigation (FBI), brings a diverse background in law and national security to the role. His roles have provided him with extensive experience in overseeing national security operations and intelligence matters, aligning with the responsibilities of an FBI Director.

However, his confirmation was contentious, passing the Senate by a narrow 51-49 vote. Concerns were raised regarding his strong political affiliations and potential conflicts of interest, particularly related to his financial ties to the fashion brand Shein.  

Despite these controversies, Patel’s supporters argue that his legal and national security background equips him to lead the FBI effectively.

When the China-founded fashion company Shein goes public as soon as this year, it will mint billionaires and millionaires out of those fortunate enough to get shares early in the trendy retailer. Among the winners will be Kash Patel.

His mandatory financial disclosures revealed that he consulted for Elite Depot for nine months last year and earned between $1 million and $5 million worth of shares. These shares will become available to Patel when they vest throughout 2025. It was also reported that Patel introduced Shein executives to figures in the Trump orbit.

Financial compensation experts say Patel will be allowed to keep the shares even as he is confirmed as FBI director.

[obsessedwithhistory1999]

[alwaysbewoke]

[casualfoxwitch]

One million seconds is approximately 11 days, one billion seconds is approximately 31 years 🗣️📣

[ivygorgon]

An open letter to the U.S. Congress

Support S. 3402 / HR 6608, The End Hedge Fund Control of American Homes Act.

123 so far! Help us get to 250 signers!

The housing crisis is devastating communities all across the country, and corporate executives are exploiting it to put more money in their pockets. We shouldn’t allow private equity firms to buy up vast quantities of American homes and create a generation of lifelong renters.  Congress needs to act fast and help promote access to safe, affordable housing and homeownership for American families, not Wall Street.

That’s why I support S. 3402 / HR 6608, The End Hedge Fund Control of American Homes Act. This legislation seeks to put an end to the harmful practice of hedge funds buying up single-family homes by banning hedge funds from owning these types of homes and requiring them to sell at least 10% of the total number of single-family homes they currently own to families per year over a 10-year period. After a 10-year full phase-out, all hedge funds will be completely banned from owning any single-family homes. This legislation will bring down housing prices, giving more families the opportunity to purchase a home and set their families up for a bright future.

I’d like you to co-sponsor and work to pass this vital legislation. Continued Congressional inaction on the housing crisis is unacceptable. Thanks.

▶ Created on October 30 by Jess Craven · 122 signers in the past 7 days

📱 Text SIGN PQLBVB to 50409

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[nando161mando]

If America's wealth was evenly distributed, each person would have $471,465