[FoRK] universal welfare.
sean at conman.org
Sun Feb 7 00:26:39 PST 2010
It was thus said that the Great Damien Morton once stated:
Nice in theory, but I have real problems with the article overall. For
> Again with the numbers:
> The first number is the likelihood, expressed as a percentage, that a child
> born to parents whose incomes fall within the top 10 percent of Americans
> will grow up to be at least as wealthy.
> The second is the percentage likelihood that a person born into the bottom
> 10 percent of society will stay at the bottom.
> Just to drive the point home, here’s a third number: 1.3
> That’s the percentage likelihood that a bottom 10 percenter will ever make
> it to the top 10 percent. For 99 out of 100 people, rags never lead to
Here, let me rewrite that a bit:
The first number is the likelihood, expressed as a percentage, that
a child born in the top 10 percent of soceity will stay at the top.
The second is the percentage likelihood that a child born to parents
whose incomes fall within the bottom 10 percent of Americans will
grow up to be at least as poor.
Basically, children born to either the top or bottom 10 percent will have
a similar chance of staying in that bracket. It's okay that 66% will fall
out of the top 10, but *bad* that only 66% will rise out of the bottom 10?
And okay, only 1.3% in the bottom will make it to the top , but it
seems from the figures given that 66% will move *out* of the bottom 10 at
And about that $250,000 ... is he serious? Let's see:
Population of the US (estimate): 300,000,000 or 3*10^8
Proposed amount: 250,000 or 2.5*10^5
multiply the two together: 7.5*10^13
That's 75 TRILLION dollars. GNP as of 2008 was *only* 14.3 TRILLION .
Of course, we could go all Zimbabwe and run the printing presses 24x7 to get
us to 75 trillion dollars ...
-spc (Heck, let's just take Bill Gates $100 billion and distribute it
amongst ourselves ... too bad that only works out to $333 per
person, and there's a good chance Bill will *still* end up on the
top 10% of rich folk in America afterwards ... )
 A 1 in 100 shot for making it in the top 10 in America. What about
the rest of the world? Or even Europe? I would say an even less
chance. Funny how the figures for the rest of the world aren't
Also, this site
Had the US at 13 trillion in 2005.
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