Even I'm surprised. Household debt hits 16 trillion

[Flash]

During the 1950s the gap between the richest one percent and a majority of Americans was smaller than at any time in the last century. The government didn't borrow from rich individuals and corporations, it taxed them at historically high levels. That all began to change with the Reagan revolution in 1980, and today we are back at 1929 levels of income inequality. It will get worse.

Historical Changes in U.S. Income Inequality - Sociological Images

Americans had more in the 1950s because the filthy government took less.

They weren't taking money to pay back student loans, give freebies to Illegals and fund a welfare state.

 

[Toddsterpatriot]

During the 1950s the gap between the richest one percent and a majority of Americans was smaller than at any time in the last century. The government didn't borrow from rich individuals and corporations, it taxed them at historically high levels. That all began to change with the Reagan revolution in 1980, and today we are back at 1929 levels of income inequality. It will get worse.

Historical Changes in U.S. Income Inequality - Sociological Images

During the 1950s the gap between the richest one percent and a majority of Americans was smaller than at any time in the last century.

You're right. The increase in government spending since the 1950s has given the 1% more wealth.
We need to cut government back to 1950s levels.

 

[georgephillip]

Also, the filthy government trying to regulate everything under the sun from housing construction to parking spaces and all those things are a great burden on the economy. Just look how Potatohead is affectin

Do you believe markets, money, and corporations are all creations of the state? The distribution of income in a society is determined by the politically constructed laws and institutions that structure economic activity within that society. If you think a government controlled by corporations is filthy (as I do), you don't want to see a government that is a giant fascist corporation without even a token need for democracy.

 

[georgephillip]

Americans had more in the 1950s because the filthy government took less.

They weren't taking money to pay back student loans, give freebies to Illegals and fund a welfare state.

The government was taking more from rich individuals and corporations in the 1950s; today government borrows from rich individuals and corporations instead of taxing them.

 

[Toddsterpatriot]

The government was taking more from rich individuals and corporations in the 1950s;

Show me.

 

[georgephillip]

The debt can't be repaid, the collateral changes hands and life goes on.

Any inflation?

 

[Toddsterpatriot]

Any inflation?

Why would defaults be inflationary?

 

[georgephillip]

During the 1950s the gap between the richest one percent and a majority of Americans was smaller than at any time in the last century.

You're right. The increase in government spending since the 1950s has given the 1% more wealth.
We need to cut government back to 1950s levels.

Or tax rich Mofos at 1950 levels.

 

[georgephillip]

Show me.

How do federal income tax rates work?

 

[Toddsterpatriot]

How do federal income tax rates work?

Laughing at the clown who confuses tax rate with tax revenue.

 

[Ringo]

 

[Toddsterpatriot]

What are the top 30 countries with the most net worth per capita?

 

[georgephillip]

Why would defaults be inflationary?

Read more.
Whine less.

Inflation and Default Dynamics on JSTOR

 

[Toddsterpatriot]

Read more.
Whine less.

Inflation and Default Dynamics on JSTOR

Does any part of that support your claim?

 

[georgephillip]

Laughing at the clown who confuses tax rate with tax revenue.

Stupid bitch.

 

[georgephillip]

Does any part of that support your claim?

Why would you care?

 

[Toddsterpatriot]

Stupid bitch.

You were whining about individual rates. Why are you changing the subject?

 

[Toddsterpatriot]

Why would you care?

It's good for a laugh.