YOU CAN FOOL ALL THE PEOPLE ALL THE TIME

From THE LOCAL (Sweden):

While US voters shunned the Democratic Party's traditionally redistributive policies in Tuesday's mid-term elections, most Americans actually prefer a wealth distribution model similar to Sweden's. According to a soon-to-be published study by researchers at Harvard and Duke universities, Americans believe US society is much more equal than it really is, and want it to be even fairer.

Business school professors Michael Norton and Dan Ariely asked 5,522 Americans about US wealth distribution and how it should look if things could be changed.

"Respondents vastly underestimated the actual level of wealth inequality in the United States, believing that the wealthiest quintile (20 percent) held about 59 percent of the wealth when the actual number is closer to 84 percent."

Studies show current US wealth inequality is near record highs, with the top one percent of Americans estimated to hold around 50 percent of the nation's wealth. According to Norton and Ariely this tops "even the levels seen just before the Great Depression in the 1920s."

COMMENT: It seems like the grapes of wrath have been replaced by the shrivelled up raisins of gullibility.

Comments

YOU CAN FOOL ALL THE PEOPLE ALL THE TIME — 6 Comments

  1. “It seems like the grapes of wrath have been replaced by the shrivelled up raisins of gullibility.”

    Quoted for truth.

  2. It’s kinda like Berlusconi (“Hey, I may molest teenage girls, but at least I’m not gay, Ew!”).

    “Hey, we ‘merkans may not be too equal, but at least we’re not like Sweden, Ew!”

  3. The gap between workers’ and executives’ salaries ought to be a scandal. No one cares. ;;sigh;;

    I voted Tuesday — what a mess the ballot was.

    FWIW
    jimB

  4. The average American knows more about American Idol than the facts behind the political issues of the day.

    wv: mills , as in “grind exceedingly small”. This is the second wv in a row that is an English word.

  5. It’s about time we had some elected officials who want to repeal the new health care law (increasing the deficit), expand corporate welfare (increasing the deficit), extend the Bush-era tax cuts for the wealthiest Americans (increasing the deficit), cutting social programs (decreasing productivity and in the long run increasing the deficit), and may even start a new war, say, in Iran (increasing the deficit), because, well they are committed BY GOD to reducing the deficit!