A quick look at the "1% of the wealth" liberal lies

Discussion in 'Politics' started by Brutus, Nov 4, 2011.

  1. Brutus
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    Brutus Senior Member

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    1) Americans don't save so have little or no wealth,

    2) they don't need to save thanks to liberalism since they get government payments of about $7 trillion a year. It would require wealth of $120 trillion to generate $7 trillion a year.


    So, when liberals say the top 1% have all the wealth they are leaving out the $120 trillion that the poor, in effect, have.
     
  2. healthmyths
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    healthmyths Gold Member Supporting Member

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    VERY good hadn't looked at it that way... By the way here is a breakdown of what the "poor" (which have something the RICHEST person in history prior to the 1900s could NEVER have...)


    In 2008, the fund that foots the bill for this program contributed $819 million to subsidize low-income telephone services. The fund is projected to grow to over $1 billion this year. That’s $1 billion of over $800 billion the United States will spend on welfare in 2010. Welfare recipients now eligible to receive cell phones
    Welfare recipients now eligible to receive cell phones
    a) Free Cell phone (I PAY about $100/month for my cell!)
    if the poor person receives just one of the below:
    * Food stamps * Medicaid * Section 8
    * Supplemental Security Income * National School Lunch Program
    b) 40 million Americans on food stamps get $200/month in free food.
    c) about 2.1 million households (6 million) use Section 8 the Housing Choice Voucher program, pays a large
    portion of the rents and utilities of or the Housing Choice Voucher Program up to $1,000 /month in FREE housing...

    So these people get
    === $ 5,666 in EIC cash back from the Federal Govt.. a check! Cash!
    === $12,000 free housing ,
    === $ 2,400 free food,
    === $ 1,200 in free cell phone plus
    === $ 5,000 a year in free health care from Medicaid.


    So this is about $26,000 a year in FREE MONEY,
    free goods and free services...
     
  3. WatertheTree
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    WatertheTree Senior Member

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    Oh look another partisan shitbag neocon here to inform us all that if we just shut up and serve the rich everything will be peachy.

    Un American shitstain is what you are.
     
  4. Brutus
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    Brutus Senior Member

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    1) as long as you agree that the poor have $120 trillion( from the rich) that the liberals don't want you to know about

    2) if I said anything about serving the rich I'll pay you 10,000. Bet?? or run away like a liberal fool
     
    Last edited: Nov 4, 2011
  5. WatertheTree
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    WatertheTree Senior Member

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    Hey Dumbfuck, do you know why the poor dont pay income taxes??

    Cause they can hardly live off what they got now.

    Dumbfuck do you know why the social safety net exists??

    To protect rich assholes from the poor revolting and killing as many modern day plantation owners as they can.

    In the interm go beg the federal government for more corporate welfare, more tax cuts for the rich, more tax shelters, and more laws to protect and maintain the wealth of neocon beggars such as yourself.
     
  6. Brutus
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    Brutus Senior Member

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    they can hardly live off $120 trillion in welfare from the rich????????

    The following are facts about persons defined as “poor” by the Census Bureau, taken from a variety of government reports:

    46 percent of all poor households actually own their own homes. The average home owned by persons classified as poor by the Census Bureau is a three-bedroom house with one-and-a-half baths, a garage, and a porch or patio.

    80 percent of poor households have air conditioning. By contrast, in 1970, only 36 percent of the entire U.S. population enjoyed air conditioning.

    Only six percent of poor households are overcrowded; two thirds have more than two rooms per person.

    The typical poor American has more living space than the average individual living in Paris, London, Vienna, Athens, and other cities throughout Europe. (These comparisons are to the average citizens in foreign countries, not to those classified as poor.)

    Nearly three quarters of poor households own a car; 31 percent own two or more cars.

    97 percent of poor households have a color television; over half own two or more color televisions.

    78 percent have a VCR or DVD player.

    62 percent have cable or satellite TV reception.

    89 percent own microwave ovens, more than half have a stereo, and a more than a third have an automatic dishwasher.

    As a group, America’s poor are far from being chronically undernourished. The average consumption of protein, vitamins, and minerals is virtually the same for poor and middle-class children and, in most cases, is well above recommended norms. Poor children actually consume more meat than do higher-income children and have average protein intakes 100-percent above recommended levels. Most poor children today are, in fact, super-nourished and grow up to be, on average, one inch taller and ten pounds heavier than the GIs who stormed the beaches of Normandy in World War II.

    While the poor are generally well-nourished, some poor families do experience temporary food shortages. But, even this condition is relatively rare; 89 percent of the poor report their families have “enough” food to eat, while only two percent say they “often” do not have enough to eat.

    Overall, the typical American defined as poor by the government has a car, air conditioning, a refrigerator, a stove, a clothes washer and dryer, and a microwave. He has two color televisions, cable or satellite TV reception, a VCR, or DVD player, and a stereo. He is able to obtain medical care. His home is in good repair and is not overcrowded. By his own report, his family is not hungry, and he had sufficient funds in the past year to meet his family’s essential needs. While this individual’s life is not opulent, it is far from the popular images of dire poverty conveyed by the press, liberal activists, and politicians.

    Of course, the living conditions of the average poor American should not be taken as representing all of the nation’s poor: There is a wide range of living conditions among the poor. A third of “poor” households have both cell and land-line telephones. A third also telephone answering machines. At the other extreme, approximately one-tenth of families in poverty have no phone at all. Similarly, while the majority of poor households do not experience significant material problems, roughly a third do experience at least one problem such as overcrowding, temporary hunger, or difficulty getting medical care.

    Much official poverty that does exist in the United States can be reduced, particularly among children. There are two main reasons that American children are poor: Their parents don’t work much, and their fathers are absent from the home.
     
  7. WatertheTree
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    WatertheTree Senior Member

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    Hey dumbfuck, it was nice of you to type all this bullshit, but I didnt read any of it and im not going to. Total waste of your time and energy.
     
  8. Dragon
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    Dragon Senior Member

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    I'm convinced that Brutus is a left-winger who is trolling here in the guise of an unbelievably stupid right-winger. Literally unbelievable, as in it utterly defies belief that anyone could actually be that stupid, and so I don't believe for a second that he is. He's here to make the right look bad. Doing a fair job of it, too.
     
  9. PoliticalChic
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    PoliticalChic Diamond Member

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    Truly one of the most ignorant of posts.

    I would leave it to others closer to you to correct your language, but here is the
    remediation you so sorely need as far as economics...

    Find the data as to the income of 'the poor,' and they multiply it by four. You can do that, can't you?

    Then decide what poverty means.

    When reading the propaganda about poverty incomes, realize that they leave out the income transfers from various government programs: benefits are substantial and the recipients pay nothing. Those in the bottom 20% of income recipients receive over 70% of their income in such transfers. Now, why doesn’t the Old Left Media tell this?

    a. In 2001 cash and in-kind transfers accounted for 77.8% of said recipients’ income. How fair is it for the Left to tell you that their income is actually 22.2% of what it actually is? Reynolds, “Income and Wealth,” p. 28

    b. This tends to explain how Americans living below the poverty level spend $1.75 for every $1 of income. The Myth of Widespread American Poverty

    Covered fully in chapter five of "Economic Facts and Fallaces," bu Thomas Sowell.
     
  10. Navy1960
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    Navy1960 Senior Member

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    Interesting that the so called poor get " 7 Trillion a year" when the ENTIRE Federal Budget is only 3.7 Trillion and that includes every single department, Defense, and yes even those nice little subsidies to Agri-Business, and the Petroleum Industry. Of that 3.7 Trillion, discounting approx. 2 Trillion of it is in so called entitlements , and of that 761 billion is spending on Social Security, that is borrowed from the Trust Fund.

    It is well known that the distribution of household net wealth is even more unbalanced
    than that of household income. Net wealth is defined as all assets net out all debts. In 2004, the
    top quartile of the household net wealth distribution held the lion’s share—87 percent (or $43.6
    trillion) while the bottom quartile of households had nothing.

    http://www.jchs.harvard.edu/publications/markets/w07-1.pdf

    The OP really does need to read this study, and I might add that the 120 Trillion dollar figure is flawed in that it does not take into account COL, amongst other things and presupposes that all that income over what would be based on current numbers amassed over a 60 year period was disposable. I might point out to the OP that the Federal Budget has been no where near that number of 3.7 Trillion for the last 60 years nor has Medicare been around that long or, for that matter your running into about the same age Social Security has been around. So in short, the OP may want to refer to the Harvard Study.
     
    Last edited: Nov 4, 2011

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