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Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @07:08PM (#10659906)
> within the top 1% of global wealth

> but struggle to feed themselves

Wealth means assets. If you can't feed yourself you do not have assets and therefore you don't have wealth.

There is extreme lack of poverty in the U.S. (not complete, and compared to all countries). There is no reason for anyone to go without food.

Re:A letter to our daughter by gradstudent on Tuesday December 01, 2015 @07:23PM (#10659970)
> There is extreme lack of poverty in the U.S. There is no reason for anyone to go without food.

I'm not sure which US you're referring to but it's not one I recognise. There is massive inequality in the US that I know and the results of that are visible everywhere that I visited. Homeless people abound like nowhere else in the developed western world that I've been to (Europe, Australia) and there is a real edge of desperation to the countless number of working poor. For example, in my experience, money is a topic of conversation that pops up way more frequently in the US than elsewhere. If it's not in the context of income (usually being too low) then it's about prices and taxes (usually being too high). Americans seem to think about these things A LOT. Also, looking around, it seems to me like everyone is always hustling for the next dollar. It's sufficiently weird and alien to me that I find it remarkable.

Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @09:33PM (#10660511)
> I'm not sure which US you're referring to but it's not one I recognise.

I'm from an African country and with that perspective I stand by this phrase:

> There is extreme lack of poverty in the U.S. There is no reason for anyone to go without food.

Name one area in the U.S. where a homeless person cannot get a meal.

My claim is simple. The U.S. is the most prosperous place on the planet, the inequality doesn't touch at least a hundred other countries. Again, inequality isn't necessarily an indicator of poverty.

Re:A letter to our daughter by gradstudent on Tuesday December 01, 2015 @11:08PM (#10660877)
> My claim is simple. The U.S. is the most prosperous place on the planet, the inequality doesn't touch at least a hundred other countries. Again, inequality isn't necessarily an indicator of poverty.

The comparisons you make are on absolute terms but the reality is more nuanced. There are almost 47 million people living in poverty in the US [1] and something like 38% of the population live paycheque-to-paycheque (up from 31% in the late 90s) [2]. Even if most of those people are food-secure (something like 90% of Americans in poverty are) those numbers should still be pretty alarming. Just because the average American has it much better than the average African doesn't mean their situation is necessarily very good.

[1] http://www.census.gov/hhes/www/poverty/about/overview/index....

[2] http://www.cbsnews.com/news/more-americans-live-paycheck-to-...

Re:A letter to our daughter by lotharbot on Wednesday December 02, 2015 @01:00AM (#10661260)
There's a little nuance needed when it comes to poverty in the US, since it's based on a floating measure.

[the following is copied from previous comments I've made on this subject]

http://www.census.gov/hhes/www/housing/ahs/nationaldata.html Americans below the poverty line in 2009 are more likely to have things like complete kitchens, complete plumbing, automobiles, air conditioning, and dishwashers than Americans as a whole in 1970. Put another way, if we used the living conditions of someone at the poverty line right now and used that to define the poverty line in 1970, over half of the 1970 population would be below the poverty line.

.... the definition [of poverty] is tied to CPI, which is tied to housing costs, which are more likely to include the cost of a full kitchen now than in the past especially for people near the bottom. I would argue that for someone in that position, having a full kitchen is better than not. Yet the CPI-based measure treats the cost of having a full kitchen as a negative (inflation), without treating the benefit of the full kitchen as a positive

[end copied segment]

Point being, the definition of "poverty" has some hidden inflation built in.

Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @11:43PM (#10661015)
> There are almost 47 million people living in poverty in the US

Look at the definition of poverty and you'll agree it's certainly a form of poverty, but again compared to the majority of the planet doesn't really cut it.

Living paycheck to paycheck is generally an unfortunate choice or lack of education, but the point remains that there's a paycheck.

And I can certainly agree that the culture of credit/debt isn't the best.

> Just because the average American has it much better than the average African doesn't mean their situation is necessarily very good.

I completely agree, it's not good at all. I think this underlies my point at the beginning that we need to give even if we don't have $45B. Our ability to generate the paycheck or our ownership of assets on average outstretches the vast majority of the planet.

Re:A letter to our daughter by gradstudent on Wednesday December 02, 2015 @08:25PM (#10667124)
> Look at the definition of poverty and you'll agree it's certainly a form of poverty, but again compared to the majority of the planet doesn't really cut it.

Poverty is defined along a spectrum, not relative to some kind of global nadir.

> Living paycheck to paycheck is generally an unfortunate choice or lack of education, but the point remains that there's a paycheck.

You're misrepresenting the situation by arguing it's a lifestyle choice. When you're poor it's very hard to save much of anything. Housing, transportation and food can quickly eat up most of a weekly paycheque.

> Our ability to generate the paycheck or our ownership of assets on average outstretches the vast majority of the planet.

Nobody is arguing the US the is place to be if you have money. The point I'm trying to spell out for you is that the averages you discuss are massively skewed by huge inequality. America's middle class are no longer the world's richest and they are shrinking in number. More, America is increasingly opting for a a system of governance that is leaving more and more people behind, especially its most vulnerable.

Re:A letter to our daughter by ethanbond on Wednesday December 02, 2015 @12:18AM (#10661144)
Americans are the most charitable people on earth.

So you don't really have a point.

Re:A letter to our daughter by tertius on Wednesday December 02, 2015 @01:17AM (#10661327)
If you read up you'll see the attitude I was responding to was contrary to that of charity.
Re:A letter to our daughter by ethanbond on Wednesday December 02, 2015 @01:08PM (#10664645)
So are you commentating on attitude, or on people's actual real world efforts towards charitable giving?
Re:A letter to our daughter by tertius on Friday December 04, 2015 @05:21PM (#10679596)
Saying that "He's rich he can give a lot. I'll give when I get rich."

When in fact the OP is already in a position to give, he just needs some perspective.

Re:A letter to our daughter by grumblestumble on Tuesday December 01, 2015 @10:48PM (#10660806)
I'm gonna go with "what is a white South African?" for $200 on this one, Alex.
Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @11:51PM (#10661053)
Takes one to know one.
Re:A letter to our daughter by grumblestumble on Wednesday December 02, 2015 @12:27AM (#10661178)
you got me :)
Re:A letter to our daughter by Swizec on Tuesday December 01, 2015 @07:27PM (#10659982)
> Americans seem to think about these things A LOT.

In my experience that's because Americans only talk about personal wealth/income by proxy. They won't talk about how much they earn, but they will talk about how much they pay for rent, or talk about taxes, etc.

It's a way to gauge how much the people you know are making in a system where the concept of pay grade doesn't exist across companies.

Re:A letter to our daughter by Retra on Tuesday December 01, 2015 @11:21PM (#10660930)
Do you consider debt an asset? If I can feed myself by going into debt, am I wealthy?
Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @11:44PM (#10661021)
Easy access to debt is another economic asset that most of the world does not have.

If you can feed yourself by going into debt, then you have purchasing power. You need something (except if you're a student) to guarantee the loan.

Re:A letter to our daughter by zardo on Wednesday December 02, 2015 @09:52PM (#10667433)
I'm not convinced they would be better off with it. For every American that wisely uses debt to get an education that will lead to an ROI, how many are just screwing themselves with consumer debt and degrees that don't pay?
Re:A letter to our daughter by Retra on Wednesday December 02, 2015 @11:27AM (#10663874)
Sure, but you'll still have to pay your lenders before donating to charities. Have you forgotten your original point so quickly?
Re:A letter to our daughter by nommm-nommm on Wednesday December 02, 2015 @01:41AM (#10661384)
Unsecured loans exist.
Re:A letter to our daughter by tertius on Tuesday December 01, 2015 @09:35PM (#10660521)
Anyone downvoting the parent needs some serious perspective.