Is the US system rigged for the rich???

[GWV5903]

Is the US system rigged for the rich? - CSMonitor.com


Thirty years ago, the richest 1 percent of Americans got 9 percent of total national income. By 2007, they had 23 percent. Last year, new census data show, the rich-poor income gap was the widest on record.

Wealth is more unevenly distributed. The top 20 percent of wealth-holders own 84 percent of America's wealth. What's causing it?

One factor is federal policy, says a study by the Corporation for Enterprise Development (CFED) and the Annie E. Casey Foundation. It finds that most federal subsidies aimed at building wealth, such as certain tax deductions (officially called "expenditures"), credits, and preferential rates, go to the richest taxpayers.

Welfare can't keep up with cost of living increases, wtf!!!

 

[The Rabbi]

Wealth isn't distributed except in the mind's of the socialists/communists.

Wealth is created by entrepreneuers and people who take risk.

Really..what risk did Paris Hilton take to become fabulously wealthy?

Paris Hilton is a model and an actress. Whatever you might want to say about her talents in those areas, they involve risk.

 

[uscitizen]

Of course, many government programs aim to alleviate poverty. Those with low incomes get Medicaid, food stamps, welfare, etc., adding up to about $365 billion. But Uncle Sam's subsidies for building wealth – of little use to the poor – were even larger: $384 billion last year.

This money helps the more prosperous buy homes, save money, start businesses, pay for college, and retire comfortably. More than half of that sum went to the wealthiest 5 percent of tax-payers. The top 1 percent got an average $95,000 in federal help. Upper-middle-income families making $100,000 got $1,600. The poor got less than $5.

If you want to get more out, put more in. Otherwise, quit your whining and get a (better) job.

I agree, everyone can see that the reason the gap is widening is because rich people have been working harder and better than the lazy middle class. The richer you are the better you are and the harder you work. If you're poor, its obvious that you dont work hard.

In my observations in life the more you are paid the less physical work you do.
And work technically speaking is defined as actual physical work taking place.

 

[uscitizen]

Wealth isn't distributed except in the mind's of the socialists/communists.

Wealth is created by entrepreneuers and people who take risk.

Really..what risk did Paris Hilton take to become fabulously wealthy?

Paris Hilton is a model and an actress. Whatever you might want to say about her talents in those areas, they involve risk.

there is risk involved in inheriting wealth?

 

[loosecannon]

Umm why do you think they call it risk?

It is the capitalist system that you find this risk. A socialist economy doesn't have it.

yeah right! Ask Greece, or Iceland, or Spain, Or Ireland, or Portugal. Socialism is all risk. Risk is spread across every fiber of the economy, maximizing the potential for depressions or currency default.

Thank God that communist China has stepped in top prevent that result temporarily.

 

[Revere]

Opportunity is not a pre-ordained outcome or gift.

 

[loosecannon]

Wealth isn't distributed except in the mind's of the socialists/communists.

Wealth is created by entrepreneuers and people who take risk.

You are never going to get Liberals to understand this

I am not a librul but even I know that there is no truth to that post whatsoever.

All wealth is either stolen from the earth or created via labor and engineering.

Capital creates nothing, never has, never will.

 

[loosecannon]

Opportunity is not a pre-ordained outcome or gift.

Beer is neither a grain or a fruit.

I win.

 

[loosecannon]

Wealth isn't distributed except in the mind's of the socialists/communists.

Wealth is created by entrepreneuers and people who take risk.

Really..what risk did Paris Hilton take to become fabulously wealthy?

Paris Hilton is a model and an actress. Whatever you might want to say about her talents in those areas, they involve risk.

Just when I thought that you could not possibly post a more stupidified post you prove me dead wrong.

Congratulations!!@!!!!!

You are in a league of your won. Truly subreptilian.

 

[eagleseven]

Wealth is more unevenly distributed. The top 20 percent of wealth-holders own 84 percent of America's wealth. What's causing it?

Technological advance.

Technological advance has allowed America's middle-class income to be redistributed to former 3rd-world countries. The income that made 100 million Americans well off, is now pulling 2 billion people out of poverty.

Isn't that what you want...redistribution of American income to 3rd-world countries?

 

[shintao]

If you want to get more out, put more in. Otherwise, quit your whining and get a (better) job.

I agree, everyone can see that the reason the gap is widening is because rich people have been working harder and better than the lazy middle class. The richer you are the better you are and the harder you work. If you're poor, its obvious that you dont work hard.

In my observations in life the more you are paid the less physical work you do.
And work technically speaking is defined as actual physical work taking place.

That depends on the risk. A man washing car windows at a light makes twenty bucks an hour. The guy doing the skyscraper windows is closer to a hundred. It is the risk.

It is a good time for a lesson though. When you child graduates from highschool, give him a long handle shovel as a gift. Tell him if he doesn't go onto college he will be using one of those shovels all his life. It is a real attention getter.

 

[uscitizen]

I agree, everyone can see that the reason the gap is widening is because rich people have been working harder and better than the lazy middle class. The richer you are the better you are and the harder you work. If you're poor, its obvious that you dont work hard.

In my observations in life the more you are paid the less physical work you do.
And work technically speaking is defined as actual physical work taking place.

That depends on the risk. A man washing car windows at a light makes twenty bucks an hour. The guy doing the skyscraper windows is closer to a hundred. It is the risk.

It is a good time for a lesson though. When you child graduates from highschool, give him a long handle shovel as a gift. Tell him if he doesn't go onto college he will be using one of those shovels all his life. It is a real attention getter.

yeah like most kids today even know how to use a shovel.

 

[eagleseven]

When you child graduates from highschool, give him a long handle shovel as a gift. Tell him if he doesn't go onto college he will be using one of those shovels all his life. It is a real attention getter.

Even if he goes to college, he will probably end up using that shovel anyways, and have $100k in loans to pay off. Too many college grads, not enough white-collar work.

 

[loosecannon]

Wealth is more unevenly distributed. The top 20 percent of wealth-holders own 84 percent of America's wealth. What's causing it?

Technological advance.

Technological advance has allowed America's middle-class income to be redistributed to former 3rd-world countries. The income that made 100 million Americans well off, is now pulling 2 billion people out of poverty.

Isn't that what you want...redistribution of American income to 3rd-world countries?

No it isn't. 2 billion people still live on a few $/day.

Even in China and India only a small fraction of the population is sharing in the dividends of prosperity.

 

[loosecannon]

yeah like most kids today even know how to use a shovel.

I LOVE it! Most people think that any fool can use a shovel or a crowbar.

What they don't realize is that there are 50+ ways to use a crowbar. And only a journeyman can master them.

Same with a shovel. Few and far between are those who can master the implement.

Most educated folks are under qualified for real work.

 

[The Rabbi]

Really..what risk did Paris Hilton take to become fabulously wealthy?

Paris Hilton is a model and an actress. Whatever you might want to say about her talents in those areas, they involve risk.

Just when I thought that you could not possibly post a more stupidified post you prove me dead wrong.

Congratulations!!@!!!!!

You are in a league of your won. Truly subreptilian.

Loosebowel, please feel free to disprove any assertion I made, namely
a) Paris Hilton is an actress and model
b) Those fields involve risk

 

[ClosedCaption]

I agree, everyone can see that the reason the gap is widening is because rich people have been working harder and better than the lazy middle class. The richer you are the better you are and the harder you work. If you're poor, its obvious that you dont work hard.

In my observations in life the more you are paid the less physical work you do.
And work technically speaking is defined as actual physical work taking place.

That depends on the risk. A man washing car windows at a light makes twenty bucks an hour. The guy doing the skyscraper windows is closer to a hundred. It is the risk.

It is a good time for a lesson though. When you child graduates from highschool, give him a long handle shovel as a gift. Tell him if he doesn't go onto college he will be using one of those shovels all his life. It is a real attention getter.

Yeah, College is affordable so if any person doesnt go it's because they are super lazy.