America’s wealthiest families smash income ceiling, middle-class left far behind

[suplex3000]

Despite, or because of, the fallout from the 2007 Great Recession, annual earnings between the richest Americans and everybody else have exploded to record levels. Meanwhile middle- and lower-class wealth growth remains stagnant.
The median wealth for high-income families hit $639,400 last year, a whopping 7 percent jump from three years earlier and seven times greater than middle-class incomes, which stood at $96,500 according to Pew Research Center, citing data from the Federal Reserve.
Middle-class median wealth, which Pew defines as the difference between the value of a household’s total assets and debts, has not advanced since 2010.
The financial chasm now separating the rich and everybody else is the widest since the Fed began tracking earnings 30 years ago, which became even more pronounced following the 2008 global financial crisis.
America 8217 s wealth gap between middle-income and upper-income families is widest on record Pew Research Center

Wealth Gap between America s Rich and Middle-Class Families Widest on Record - Real Time Economics - WSJ

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans. This robbing of the poor half of the population has been quite deliberate, by allowing unchecked immigration to obtain cheap labor and by off shoring of jobs to India and China. The Federal minimum wage has remained at $7.25 per hour since Obama took office, while the cost of living has increased substantially. There is no justification for this, since corporate profits have never been higher.

 

[ScienceRocks]

If the rich aren't paying their fair share. I agree that we should raise it to a equal percentage with the non-rich. Only fair.

 

[BluesLegend]

If they would get off the Democratic party plantation they wouldn't be so poor. My income has nearly doubled since 2007.

 

[OnePercenter]

The answer is:

-Base Federal tax or corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

 

[OnePercenter]

If they would get off the Democratic party plantation they wouldn't be so poor. My income has nearly doubled since 2007.

Define 'nearly.'

 

[BluesLegend]

If they would get off the Democratic party plantation they wouldn't be so poor. My income has nearly doubled since 2007.

Define 'nearly.'

Actually it more than doubled since 2007, its nearly doubled in just the last 4 years. But I didn't waste my time sitting around whining about how much the rich are earning and wishing the government would give me a hand out, I went out and earned my own wealth.

 

[OnePercenter]

Actually it more than doubled since 2007, its nearly doubled in just the last 4 years. But I didn't waste my time sitting around whining about how much the rich are earning and wishing the government would give me a hand out, I went out and earned my own wealth.

You didn't answer my question.

Define 'nearly.' That would take a figure with a $ in front.

 

[Toddsterpatriot]

If the rich aren't paying their fair share. I agree that we should raise it to a equal percentage with the non-rich. Only fair.

But the rich are paying a higher percentage than the non-rich.
Why would you lower what the rich pay?

 

[OKTexas]

You can thank the dear leader for the jump in the income gap, think quantitative easing. Where did you think all those billions would go.

 

[Toddsterpatriot]

The answer is:

-Base Federal tax or corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

Base Federal tax or corporations at 30% of revenue.

You're an idiot.

Raise minimum wage to $23.50/hr.

Make that a cretin.

Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

And you never passed a college level math class, obviously.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

Your understanding of the Constitution, and economics, is weaker than Obama's.

 

[suplex3000]

Base Federal tax or corporations at 30% of revenue.

You're an idiot.

Raise minimum wage to $23.50/hr.

Make that a cretin.

Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

And you never passed a college level math class, obviously.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

Your understanding of the Constitution, and economics, is weaker than Obama's.

What can you offer, sir?

 

[Roadrunner]

Despite, or because of, the fallout from the 2007 Great Recession, annual earnings between the richest Americans and everybody else have exploded to record levels. Meanwhile middle- and lower-class wealth growth remains stagnant.
The median wealth for high-income families hit $639,400 last year, a whopping 7 percent jump from three years earlier and seven times greater than middle-class incomes, which stood at $96,500 according to Pew Research Center, citing data from the Federal Reserve.
Middle-class median wealth, which Pew defines as the difference between the value of a household’s total assets and debts, has not advanced since 2010.
The financial chasm now separating the rich and everybody else is the widest since the Fed began tracking earnings 30 years ago, which became even more pronounced following the 2008 global financial crisis.
America 8217 s wealth gap between middle-income and upper-income families is widest on record Pew Research Center

Wealth Gap between America s Rich and Middle-Class Families Widest on Record - Real Time Economics - WSJ

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans. This robbing of the poor half of the population has been quite deliberate, by allowing unchecked immigration to obtain cheap labor and by off shoring of jobs to India and China. The Federal minimum wage has remained at $7.25 per hour since Obama took office, while the cost of living has increased substantially. There is no justification for this, since corporate profits have never been higher.

The middle class has elected the government of the GOUSA for the last 60 years or more.

They have voted for politicians that fool them into thinking domestic tranquillity can be attained by providing bread and circuses to the masses, and all without having to be taxed for it.

The middle class is reaping what it has sown.

Tough shit.

 

[Toddsterpatriot]

Base Federal tax or corporations at 30% of revenue.

You're an idiot.

Raise minimum wage to $23.50/hr.

Make that a cretin.

Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

And you never passed a college level math class, obviously.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

Your understanding of the Constitution, and economics, is weaker than Obama's.

What can you offer, sir?

Reduce government involvement in our economy, don't triple its involvement.

 

[initforme]

We have a system that is supposed to reward those at the top. The middle and lower classes exist to make those at the top their wealth. Things haven't changed in 200 years.

 

[suplex3000]

We have a system that is supposed to reward those at the top. The middle and lower classes exist to make those at the top their wealth. Things haven't changed in 200 years.

I don't think that it's ok. But it seems to me that it's ok for everybody except middle-class. One part of american society is on welfare, enjoys food stamps and crack, another one enjoys cocaine and sport cars, and the third one works hard and has no power to change anything.
Perfect system.Don't you think so?

 

[whitehall]

What's the difference between the American "rich" and the "middle class"? Most of the union educated low information left would ignore or even celebrate the degenerate display of wealth by the do nothing Hollywood elite but a generation of dumb assed kids were taught to blame Wall Street. Wall Street ain't your enemy. Stupid liberal education and pop-culture cliches and democrats who never had a clue are responsible for kids who think minimum wage is the solution while middle class companies go under.

 

[Roadrunner]

We have a system that is supposed to reward those at the top. The middle and lower classes exist to make those at the top their wealth. Things haven't changed in 200 years.

That is really ignorant.

There has been tremendous change in this country.

And there is no other country that offers more opportunity to an individual who tries hard.

You have been lied to.

 

[Mr. H.]

You can thank the dear leader for the jump in the income gap, think quantitative easing. Where did you think all those billions would go.

With interest rates near zero percent, Wall Street was the winner.
And there are plenty of "middle class" invested in Wall Street through IRAs/401Ks/etc.

 

[Roadrunner]

You can thank the dear leader for the jump in the income gap, think quantitative easing. Where did you think all those billions would go.

With interest rates near zero percent, Wall Street was the winner.
And there are plenty of "middle class" invested in Wall Street through IRAs/401Ks/etc.

Obama has been good to stockholders.

Not so good to anybody else.

 

[SwimExpert]

Despite, or because of, the fallout from the 2007 Great Recession, annual earnings between the richest Americans and everybody else have exploded to record levels. Meanwhile middle- and lower-class wealth growth remains stagnant.
The median wealth for high-income families hit $639,400 last year, a whopping 7 percent jump from three years earlier and seven times greater than middle-class incomes, which stood at $96,500 according to Pew Research Center, citing data from the Federal Reserve.
Middle-class median wealth, which Pew defines as the difference between the value of a household’s total assets and debts, has not advanced since 2010.
The financial chasm now separating the rich and everybody else is the widest since the Fed began tracking earnings 30 years ago, which became even more pronounced following the 2008 global financial crisis.
America 8217 s wealth gap between middle-income and upper-income families is widest on record Pew Research Center

Wealth Gap between America s Rich and Middle-Class Families Widest on Record - Real Time Economics - WSJ

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans. This robbing of the poor half of the population has been quite deliberate, by allowing unchecked immigration to obtain cheap labor and by off shoring of jobs to India and China. The Federal minimum wage has remained at $7.25 per hour since Obama took office, while the cost of living has increased substantially. There is no justification for this, since corporate profits have never been higher.

The answer is less taxes.