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"But, the bigger picture...there is no perpetual wealthy class, America is the land of opportunity, and the more one works, the wealthier one becomes. "
This is hilarious. America is the land of opportunity for the ultra wealthy. Its going to come down to class warfare and the middle class is starting to wake up. Makes the wealthy establishment very nervous. The middle class still has the right to vote and that scares those at the very top. But they will find a way to keep them from voting I'm sure. Will bet everything I have on it.
Entitlement mentality? You are funny. A troll who cant get the motor started. I worked hard my whole life. I collect my Social security which I have paid into my whole life. Yes I am ENTITLED to it. No doubt about it. Boy that was fun.
Then I should go back to work until I drop dead. The worst and most embarassing place to die, at one's job. You got a better spot for me to put my money? I will invest it as long as nobody else makes one lousy red cent of money except me. Can you manage that one? This is getting more fun now. I dont live in greece. I live here, you know, the place where the rich get richer and the poor get poorer.
"But, the bigger picture...there is no perpetual wealthy class, America is the land of opportunity, and the more one works, the wealthier one becomes. "
This is hilarious. America is the land of opportunity for the ultra wealthy. Its going to come down to class warfare and the middle class is starting to wake up. Makes the wealthy establishment very nervous. The middle class still has the right to vote and that scares those at the very top. But they will find a way to keep them from voting I'm sure. Will bet everything I have on it.
"But, the bigger picture...there is no perpetual wealthy class, America is the land of opportunity, and the more one works, the wealthier one becomes. "
This is hilarious. America is the land of opportunity for the ultra wealthy. Its going to come down to class warfare and the middle class is starting to wake up. Makes the wealthy establishment very nervous. The middle class still has the right to vote and that scares those at the very top. But they will find a way to keep them from voting I'm sure. Will bet everything I have on it.
Let's see if facts can brighten that dim bulb that passes for your understanding.
1. "More than three-quarters of those working Americans whose incomes were in the bottom 20 percent in 1975 were also in the top 40 percent of income earners at some point by 1991, says Sowell."
Source: Thomas Sowell, "How Media Misuse Income Data To Match Their Preconceptions," Investor's Business Daily, January 12, 2010.
For text:
How Media Misuse Income Data To Match Their Preconceptions - Investors.com
2. The data also show downward mobility among the highest income earners. The top 1% in 1996 saw an average decline in their real, after-tax incomes by 52% in the next 10 years.
America is still an opportunity society where talent and hard work can (almost always) overcome one's position at birth or at any point in time. Perhaps the best piece of news in this regard is the reduction in gaps between earnings of men and women, and between blacks and whites over the last 25 years.
http://online.wsj.com/public/article...536934297.html
3. To get into the top 1% of Americans you dont need to be a billionaire or millionaire or half-millionaire. The minimum wage earners in that group make about $343k/year .The top 1% of wage earners earn 17% of the nations income. Nicole Lapin, Who the Heck Are the "Top 1%"?!!
4. According to a study by Prince & Associates, less than 10% of todays multi-millionaires cited inheritance as their source of wealth.
The Decline of Inherited Money - The Wealth Report - WSJ
Most of America's millionaires are first-generation rich. How is it possible for people from modest backgrounds to become millionaires in one generation? Why is it that so many people with similar socioeconomic backgrounds never accumulate even modest amounts of wealth?
washingtonpost.com: The Millionaire Next Door
The lap-dog attitude of you on the Left, willing to accept what is clearly an untruth, becomes tiresome.
There is no reason, it seems, to teach folks like you how to read.
You think you can win a debate by cherry-picking articles and studies to find clearly partisan interpretations of "data"?
I'm not sure you have even convinced yourself.
No....you make the same mistake many nutters make. You mistakenly assume that what you have presented is worthy of more than a moment's consideration. The actual facts have been provided for you and your buds on numerous occasions. You know this. Your version of this game is tedious and boring.
No....you make the same mistake many nutters make. You mistakenly assume that what you have presented is worthy of more than a moment's consideration. The actual facts have been provided for you and your buds on numerous occasions. You know this. Your version of this game is tedious and boring.
No....you make the same mistake many nutters make. You mistakenly assume that what you have presented is worthy of more than a moment's consideration. The actual facts have been provided for you and your buds on numerous occasions. You know this. Your version of this game is tedious and boring.
You're dancin'.
"Income and Wealth" was published in 2006 and appears to use numbers through 2004. By using that text as a reference, are you telling us that the economy of 2011 is exactly the same as 2004?
Also, why were the dates selected and not consistent? Why were dates chosen that start in periods of a weak economy and end in periods of a strong economy? As this naturally skews numbers and gains, doesn't that weaken your case?
No.
The recession, while made worse by this administration, does not represent the usual events of the last few decades.
What the text indicates is that the middle class is hardly shrinking nor stagnating.
But, the bigger picture...there is no perpetual wealthy class, America is the land of opportunity, and the more one works, the wealthier one becomes. The case made by the Left is to manipulate those who won't do their own research.
If you're willing to accept a superficial perspective, then you will remanin a vassal of the Left.
My father and grandfather worked their asses off their whole lives, both working two jobs and rarely coming home till 9pm after starting their day when the sun came up. I defy you to find anyone, anywhere who worked harder than they. And I followed in their footsteps. Yet none of us ever became rich.
I find that three things contrubute to almost all wealthy people. They are willing to take chances, they are lucky and/or they invest well. Any one or combination.
So to say that hard work alone will make you wealthy is a slap in the face to many working people who do, in fact, work their asses off every day.
No.
The recession, while made worse by this administration, does not represent the usual events of the last few decades.
What the text indicates is that the middle class is hardly shrinking nor stagnating.
But, the bigger picture...there is no perpetual wealthy class, America is the land of opportunity, and the more one works, the wealthier one becomes. The case made by the Left is to manipulate those who won't do their own research.
If you're willing to accept a superficial perspective, then you will remanin a vassal of the Left.
My father and grandfather worked their asses off their whole lives, both working two jobs and rarely coming home till 9pm after starting their day when the sun came up. I defy you to find anyone, anywhere who worked harder than they. And I followed in their footsteps. Yet none of us ever became rich.
I find that three things contrubute to almost all wealthy people. They are willing to take chances, they are lucky and/or they invest well. Any one or combination.
So to say that hard work alone will make you wealthy is a slap in the face to many working people who do, in fact, work their asses off every day.
1. "Yet none of us ever became rich."
That conclusion would be left to the individual, wouldn't it?
2. "So to say that hard work alone will make you wealthy is a slap in the face to many working people who do, in fact, work their asses off every day...."
Well, then...rather than slap anyoneone during this joyous season, let me make it clear that wealth is related to "work"...or, perhaps a better term, "productivity."
Income and wealth inequality or demographics. In Alan Reynolds Income and Wealth, he studied the data, and found the following. Certainly the top fifth of households has a far greater proportion of same, but it also has six times as many full-time workers as the bottom fifth, heavily composed of two-earner couples with older children or other relatives who work. The bottom fifth is heavily composed of aged or younger couples, the retired or the still in school. Also, some in the bottom fifth because they are part of the underground economy, or in crime, so income is not reported. Or suffer addictions which preclude work.
a. In 2004, 56.4% of households in the bottom fifth featured no work by anyone for the entire year.
HINC-05--Part 1
b.The total number of full time, year round workers in the bottom fifth for 2004 was less than 3 million which compares to 16.4 million in the top fifth of households. Ibid.
The difference in income does not reflect inequality, but rather, productivity.
The fact that the lowest fifth are neither starving, nor living in the streets reflects the intrinsic generosity of our society, and the transfer of incomes via government programs. 80% of income in the bottom fifth is from such transfers; it is only 2% for the top fifth.
c. Other pertinent factors include age and experience of head of household, educational differences, the rise of working women, which increased the number of two-earner families, increased in college educated workers, percent of immigrants in the workforce, which also give the impression of inequality.
d. One more point: "80% of income in the bottom fifth is from such transfers"
This is very significant: too many soft-hearted folks are fooled by the Left, as they do not tell you this fact.
Again: 80% of income in the bottom fifth is from such transfers
This means that when the Left, the 'poverty industry,' tells you that a family of four is poor because it earns $22,050 [http://aspe.hhs.gov/poverty/09poverty.shtml], it neglects to note that the government provides food stamps, housing, income, etc. equivalent to $88,200.
This means that ineffect, this family of four has the total income the same as a working family of $110,250...roughly.
What a country, huh?
So, how's that for "a slap in the face to many working people who do, in fact, work their asses off every day"????
