$106,000 more for the 1 percent

#28
#28
volinbham said:
duh, just like Obama says $250K/year = millionaires and billionaires.
Click to expand...

Jerry Brown just said that someone making $250k will be a millionaire in four years. So maybe Obama agrees with Brown and assumes someone making that much won't spend a single penny for four straight years.
 
#29
#29
lawgator1 said:
93 % of the additional income created in this country in 2010 -- $288 billion -- went to the top 1 %.

That is, 93 cents of very new dollar of income generated by the recovery went to the very top of the economic ladder. That is absolutely shocking. How can the economy recover if all the money generated by any growth goes to the billionaires?

And, if the key to economic growth is to give the rich more so that they will hire, why is UE still hovering close to 9 %?

To answer your question, the top 1 % saw their average income soar by 11.6 % in just that year, alone.

The recovery, such as it is, has been very uneven. Those at the very top are doing better. The lower and middle classes are making just a sliver of income better (and infinitesimally small compared to the top income earners).

Average people hear in the news that there is a recovery. They hear that the stock market has rebounded nicely this year. And yet they remain a paycheck away from bankruptcy.

And the GOP wants to cut taxes for the wealthy and corporations while also cutting long term benefits for the lower and middle classes.

http://www.nytimes.com/2012/03/26/opinion/the-rich-get-even-richer.html
Click to expand...

couldn't be because of poorly designed and implemented recovery policies could it? Nah - it's because the evil rich are not being taxed enough.

Would like to see the logic of how if the rich had been taxed at the Buffet rule that you advocate that we would have seen:

1) lower deficits
2) lower unemployment
3) more absolute $ from the recovery going to the 99%
 
#30
#30
bamawriter said:
Jerry Brown just said that someone making $250k will be a millionaire in four years. So maybe Obama agrees with Brown and assumes someone making that much won't spend a single penny for four straight years.
Click to expand...

oh boy - these are our elected officials

I guess if I make 100K this year I'm only 9 years away from being a millionaire - who knew?
 
#31
#31
n_huffhines said:
If the rich don't do well, the poor do very poorly. If the Rich do very well, the poor do well. LG should be rooting for the rich to do well. For some reason, no matter how evident it is, people can't grasp that free exchange is not a zero sum game.
Click to expand...


Might have been true in the early 1900s.

Been proven to be a myth in modern economic times.

Trickledown is bullshiite.
 
#33
#33
the people at the income level you're demonizing are most likely small to medium business owners. Is it really your contention that them doing better will not help the lower classes?
 
#35
#35
Tax the "rich" more, they hire less "poor" for work. The "Government" then has to subsidize the "poor" by taxing the "rich" more, thus creating more "poor".

Awesome!
 
#36
#36
utvolpj said:
the people at the income level you're demonizing are most likely small to medium business owners. Is it really your contention that them doing better will not help the lower classes?
Click to expand...

Probably not - LG is talking about billionaires for some reason. There are about 400 in the US. My bet is that you have a high proportion from the entertainment industry, some major shareholders of big corporations and some sports related (owners, possibly Arod if he had a decent money manager).

It's absurd to paint the 1% as billionaires - but it fits the narrative LG is trying to advance.
 
#38
#38
lawgator1 said:
Might have been true in the early 1900s.

Been proven to be a myth in modern economic times.

Trickledown is bullshiite.
Click to expand...

Economics is no simple thing but SOMEBODY has to be rich enough to be writing all those paychecks. If you don't run your own business and are working for sombody else it doesn't exactly help your cause for their income to start tanking.
 
#40
#40
hndog609 said:
Economics is no simple thing but SOMEBODY has to be rich enough to be writing all those paychecks. If you don't run your own business and are working for sombody else it doesn't exactly help your cause for their income to start tanking.
Click to expand...

Awesome :)
 
#42
#42
lawgator1 said:
That's how much more on average they made in 2010.

The 99 %? Eighty bucks.


Folks, if something isn't done to change the distribution of income in this country and very, very soon, that kind of thing is going to be our undoing.
Click to expand...

I am very happy to be above the average.
 
#44
#44
lawgator1 said:
93 % of the additional income created in this country in 2010 -- $288 billion -- went to the top 1 %.

That is, 93 cents of very new dollar of income generated by the recovery went to the very top of the economic ladder. That is absolutely shocking. How can the economy recover if all the money generated by any growth goes to the billionaires?

And, if the key to economic growth is to give the rich more so that they will hire, why is UE still hovering close to 9 %?

To answer your question, the top 1 % saw their average income soar by 11.6 % in just that year, alone.

The recovery, such as it is, has been very uneven. Those at the very top are doing better. The lower and middle classes are making just a sliver of income better (and infinitesimally small compared to the top income earners).

Average people hear in the news that there is a recovery. They hear that the stock market has rebounded nicely this year. And yet they remain a paycheck away from bankruptcy.

And the GOP wants to cut taxes for the wealthy and corporations while also cutting long term benefits for the lower and middle classes.

http://www.nytimes.com/2012/03/26/opinion/the-rich-get-even-richer.html
Click to expand...

How can a man be so level headed when defending a falsely accused man and yet so stupid when it comes to economics.
 
#50
#50
lawgator1 said:
That's how much more on average they made in 2010.

The 99 %? Eighty bucks.


Folks, if something isn't done to change the distribution of income in this country and very, very soon, that kind of thing is going to be our undoing.
Click to expand...

I agree. Lawyers are way over paid for chasing ambulances.

Are you saying your prepared to take a pay cut for the greater good?
 
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