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View Diary: What Does Labor Want? (15 comments)

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  •  Who are the rich? (1+ / 0-)
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    Eikyu Saha

    The top 1% of salaries globally is $50k/year.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Sat Nov 17, 2012 at 09:50:26 PM PST

    [ Parent ]

    •  Can you cite the source? (1+ / 0-)
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      Sparhawk

      1% of 7 billion (Earth's population) is 70 million.  The U.S. has about 110 million 'households' with median household income of about $50k/year.  That means 55 million households get $50k.  Since some households have multiple workers, the number gets smaller.  Average U.S. income is not orders of magnitude different from that of Europe or Japan.  So the $50k mark seems off to me.  And the problem, after all, is not income but wealth and its modes of distribution.  Let's say we start with $500 million+ (wealth) as the line where redistribution kicks in hard (much easier, actually, than 1950 tax rates in the U.S.); and let's make sure the redist goes global.  I haven't the numbers to prove it, but I do believe that people would eat; child mortality would greatly decrease; birthrate would drop precipitously in the span of two generations.  It wouldn't solve the Palestinian situation, but it would jack up the price of Tantalum and make clear the true costs of iPads and Priuses.  Indeed, though, we would all be humbled.  

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