Rising Income Inequality - NOT!!!

[Listening]

You can make the number support any premise, you just have to find the right numbers, however you don't have to be mathematical genius to realize that the rich have been getting a lot richer and poor have been getting a lot poorer.

And what numbers did you find to support this premise.

Or can you refute the OP ?

 

[sealybobo]

"There are liars, damn liars and statistics"
Mark Twain.

Here's another statistic:

CBO is the source, Between 1929 and 2007 the increase in income for the poorest 20% of Americans rose 18%. The increase for the middle class increased 40%; and, the increase for for the richest 1% was 275%.

Lets look at Trump's new tax cut bill.

As a result, the Tax Policy Center predicts that in 2027, the average tax cut would amount to $160, or just a 0.2 percent income bump.

This would mean a tiny tax bump for many lower- and middle-class households — the average $50,000 to $75,000 — earning household would have a tax bill that is $30 higher than today. The average household earning more than $1 million would get a cut of more than $23,000.

CHARTS: See How Much Of GOP Tax Cuts Will Go To The Middle Class

So Republicans shouldn't be surprised the rich are getting richer and the middle class is getting poorer. Don't blame Obama when it's policies like this that are creating this gap.

 

[Flopper]

"There are liars, damn liars and statistics"
Mark Twain.

Here's another statistic:

CBO is the source, Between 1929 and 2007 the increase in income for the poorest 20% of Americans rose 18%. The increase for the middle class increased 40%; and, the increase for for the richest 1% was 275%.

That sounds about right.

The new tax bill will provide lots of relief for our struggling millionaires but not so much the for the poor and thus inequality will continue to go.

Without the doubling of the standard deduction, the tax bill would be a huge tax increase for the poor and it will expire in 7 years. The biggest tax cuts for the wealthy, reduction in the corporate tax rate, doubling the estate tax deduction, and new loopholes for the wealthy are all permanent.

Households making $1 million or more per year would get an
average tax cut of $69,660. Households making less than $10,000 per year will see a tax cut of less than $10. And the rich get richer and poor get poor

How your taxes will change under the GOP tax plan depends on many factors

 

[Flopper]

You can make the number support any premise, you just have to find the right numbers, however you don't have to be mathematical genius to realize that the rich have been getting a lot richer and poor have been getting a lot poorer.

And what numbers did you find to support this premise.

Or can you refute the OP ?

CBO: Between 1929 and 2007 the increase in income for the poorest 20% of Americans rose 18%. The increase for the middle class increased 40%; and, the increase for for the richest 1% was 275%.

 

[sealybobo]

"There are liars, damn liars and statistics"
Mark Twain.

Here's another statistic:

CBO is the source, Between 1929 and 2007 the increase in income for the poorest 20% of Americans rose 18%. The increase for the middle class increased 40%; and, the increase for for the richest 1% was 275%.

That sounds about right.

The new tax bill will provide lots of relief for our struggling millionaires but not so much the for the poor and thus inequality will continue to go.

Without the doubling of the standard deduction, the tax bill would be a huge tax increase for the poor and it will expire in 7 years. The biggest tax cuts for the wealthy, reduction in the corporate tax rate, doubling the estate tax deduction, and new loopholes for the wealthy are all permanent.

Households making $1 million or more per year would get an
average tax cut of $69,660. Households making less than $10,000 per year will see a tax cut of less than $10. And the rich get richer and poor get poor

How your taxes will change under the GOP tax plan depends on many factors

This republican at my work said democrats are screwed when everyone starts seeing $200 more on their paychecks. It’s true. Democrats will then be able to cut spending wherever they want. Workers won’t care.

 

[Flopper]

"There are liars, damn liars and statistics"
Mark Twain.

Here's another statistic:

CBO is the source, Between 1929 and 2007 the increase in income for the poorest 20% of Americans rose 18%. The increase for the middle class increased 40%; and, the increase for for the richest 1% was 275%.

That sounds about right.

The new tax bill will provide lots of relief for our struggling millionaires but not so much the for the poor and thus inequality will continue to go.

Without the doubling of the standard deduction, the tax bill would be a huge tax increase for the poor and it will expire in 7 years. The biggest tax cuts for the wealthy, reduction in the corporate tax rate, doubling the estate tax deduction, and new loopholes for the wealthy are all permanent.

Households making $1 million or more per year would get an
average tax cut of $69,660. Households making less than $10,000 per year will see a tax cut of less than $10. And the rich get richer and poor get poor

How your taxes will change under the GOP tax plan depends on many factors

This republican at my work said democrats are screwed when everyone starts seeing $200 more on their paychecks. It’s true. Democrats will then be able to cut spending wherever they want. Workers won’t care.

The only way everybody will be getting an extra $200 a pay check is if they are making $200,000 to $500,000 a year. The average family will see about $25 every 2 weeks.