Mint Map: Global Wealth Distribution
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11 Comments so far
leave a commentHi, Hainan Island (just south of the Chinese mainland, NE of Vietnam) is part of China and should be colored dark green like the rest of it.
Curious to see that USA and Rusia are at the same level. Could this mean that neither capitalism nor communism ,in its pure expression, are the solution?
No, it is a reflection that both the US and Russia are socialist countries.
I think you mean that both are capitalist countries. it’s been more than 15 years since the death of communism and the Soviet Union.
I’m surprised that there isn’t more disparity in the former Soviet states. I visited Ukraine last year and I had never seen so many $300,000 cars next to decrepit apartment blocks. Maybe there are only just a handful of super rich so that they don’t skew the results.
If citizenry well-being and economic health are indicated by wealth-distribution, then it might be interesting to see each country’s last 5 years of wealth-distribution trend along with it’s, say, GDP trend, so we see an actual metric to support the cause-effect hypothesis? Just sayin.
What might be more valuable would be a graphic depicting wealth distribution within age groups. In the US wealth is typically accumulated with age as assets (particularly homes) are purchased (and paid off) and retirement accounts are funded. Additionally, it would be illustrative to compare poverty rates along with what is considered poverty in each of the nations.
I would argue the ability to gain wealth over a lifetime is more indicative of “the well being and standard of living of its citizens.” Most of us started out with very little and by the age of 40 can’t figure out how we lived that way. What made it easier was the knowledge that if we worked hard, we could live a pretty good life – IMHO.
Oh yes, the ever popular wealth distribution. An entrepreneur borrows money, takes risks that most won’t do, works day and night, doesn’t take vacation for years, just to finally build a small business or have a S. Corporation with income of $250k / year before taxes. Then comes the pseudo-socialist politician to grab the entrepreneur’s hard work, in order to buy votes from the welfare queens. If that’s the new way, why don’t the socialists charge 80% tax on all the income from George Soros, from residents in Beverly Hills, Hollywood Hills, Nob Hill, Park West, etc? Hey Clooney, time to put your Italian castle at Lake Cuomo on the block, to pay for health care of your beloved ghetto. After all, you Hollywood types love to make movies with lots of guns firing, but you socialists are against the 2nd amendment? Hey Kutcher and Demi, time to put the private jet on the block to support inner city projects; you two love birds should start flying coach like the rest of us, serfs. No more $10,000 handbags for you Madonna or Huffington. No more Chanel suits for you Pelosi. No more leasing yatchts in the South of France for you P-Diddy. No more renting entire islands in the Caribbean to vacation away from the commoners, Oprah. Hey, we serfs don’t need all that to get by. Let’s put all that waste on the pile to redistribute the wealth, since you “socialists” have all pledged allegiance on Youtube, right? One more thing, hasn’t the New Orleans population been voting 100% democrat for more than 100 years? Doesn’t the liberal Hollywood movie industry make their movies in Canada to avoid paying taxes and unions in their beloved California? Go check it, don’t believe me.
Are we talking about the entrepreneur who claims as if it is of his own creation all the land he can see, and designates what lies beyond as belonging to his son?
Are we talking about the entrepreneur who claims our oil, or our coal, or a nation’s lithium, or any non-renewable natural resource as his own, and dares the rest of us to consider it ours, too, without paying him hugely for “his” resources?
Are we talking about the airlines which appear to own the rush hour landing rights at busy airports and get to sell them to the highest bidder, just as if they created that value?
Are we talking about the media and communications companies who call the airwaves theirs, not ours, and sell slices they didn’t create at huge windfall prices?
Are we talking about the real estate magnates who claim the best blocks in our most vibrant cities, and pocket the land rent as well as the building rent, and then generously plant tulips or fund libraries or hospitals, and are treated as self-made men and women?
Alaska actually has taken some steps in the right direction in this regard, collecting some of the rent related to natural resources and using it to fund government and investing it to provide an annual income for every Alaska citizen. The income Gini in Alaska is lower than in most of the rest of the US as a result.
Leona Helmsley was describing structure, not evasion, when she asserted that “we don’t pay taxes. The little people pay taxes.”
Are those the entrepreneurs you mean?
The map offers a kinder view of the distribution of wealth in the US than really exists. Although this map is entitiled “Wealth Distribution”, it actually is based on the Gini Coefficient of income, not wealth. The Gini Coefficient of wealth in the US (assets minus liabilities) is significantly higher, and would be darker green, even after accounting for the inequalities in other countries
I’m all for people working hard and making money but many great scholars, and even the average Joe knows the power of great wealth. “When wealth is concentrated in very few hands, no real democracy can exist.”…. anyone who doesn’t see that, needs to really ask them selves why they are lying to them selves…on the other hand, go and make as much money as you can!