July 2018 Median Household Income in the U.S.

Re:July 2018 Median Household Income in the U.S. by ekianjo on Sunday October 07, 2018 @12:29PM (#18161347)

So rich guys are getting richer faster. Big news! They have access to instruments folks with median income dont.

You are missing the point that everyone s situation seems to be improving - the median income is a better metric to measure that.

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Re:July 2018 Median Household Income in the U.S. by hammock on Sunday October 07, 2018 @12:57PM (#18161519)

You believe access to special financial instruments (such as..?) is the reason rich people can get richer? Can you expand on that

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Re:July 2018 Median Household Income in the U.S. by molsongolden on Monday October 08, 2018 @12:59AM (#18164238)

Not OP but some might be: illiquid alternative investments with lockup periods, investments that require investors to be "accredited investors", funds with large minimums, outright purchases of investment real estate.

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Re:July 2018 Median Household Income in the U.S. by cygx on Sunday October 07, 2018 @12:50PM (#18161472)

I consider socio-economic polarization an existential threat to democracy: Money buys political influence, so I would argue there's a legitimate fear of capitalist societies turning into oligarchies.

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Re:July 2018 Median Household Income in the U.S. by Denzel on Sunday October 07, 2018 @01:01PM (#18161542)

I agree with you about polarization being a threat. And I'm guessing you've had more time to think about this than I have.

Hypothetically: what're some solutions that a monied person could implement to stymie the runaway feedback loop? I know it may sound odd but is it possible to use money to stop the purchase of political power for both yourself and everyone else?

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Re:July 2018 Median Household Income in the U.S. by cygx on Sunday October 07, 2018 @02:06PM (#18161840)

And I'm guessing you've had more time to think about this than I have.

Not necessarily - I just like to muse about big-picture problems with society from time to time. Contrasting median and mean income (a flawed measure for various reasons) was just the first idea I had when I was trying to sanity-check the common-sense idea that because it's easier to get money if you already have money, social polarization is likely to grow.

As far as the US is concerned, campaign finance reform often gets mentioned as the most immediate step to improve upon the current situation.

As to the big-picture problems, frankly, I'm not sure humanity as a species is enlightened enough to overcome self-interest and inertia to ever fix the systemic problems present in the current way we organize society. Hope for benevolent robot overlords, I guess ;)

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Re:July 2018 Median Household Income in the U.S. by iamnothere on Monday October 08, 2018 @08:08AM (#18166661)

Organized nonpartisan groups like Represent.us are working to remove money from politics, at least to the degree that it is possible. Campaign finance reform is a part of their strategy, as is broad anti-corruption legislation. Investing in groups like this would be a good way for someone with resources to apply them positively.

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Re:July 2018 Median Household Income in the U.S. by ionised on Monday October 08, 2018 @05:14AM (#18165647)

> the median income is a better metric to measure that.

I disagree.

So you have a bit more than you had last year but as time goes on your percetage share in the overall wealth, prosperity and influence in your nation is decreasing.

Great deal.

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