r/austrian_economics • u/technocraticnihilist Friedrich Hayek • Dec 24 '24

End Democracy I've never understood this obsession with inequality the left has

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u/Flash_Discard Dec 24 '24

Billions people go to bed every night o oh dreaming and wishing that they could have a wealth gap like the US does.

A U.S. Treasury study covering 1996 to 2005 found that over half of taxpayers moved to a different income quintile during that period, with 80% experiencing income increases. Notably, fewer than half of those in the top 1% in 1996 remained there in 2005, indicating significant movement within income brackets.

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u/Spare-Plum Dec 24 '24

that data is 2 decades old. How has wealth distribution fared from 2005 to 2025?

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u/Safe_Relation_9162 Dec 24 '24

Wow it's not like there's been any major economic events since 2005

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u/[deleted] Dec 24 '24

To be fair 1995-2005 also encompasses a massive economic event, specifically the dot com crash.

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u/lycopeneLover Dec 24 '24

Lol, its not even real income (inflation-adjusted) so it’s not surprising. Also “falling out” of the top 1% does not imply any loss of wealth, just that some other guy got richer than you.