rightwinger
Award Winning USMB Paid Messageboard Poster
- Aug 4, 2009
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Amazingly clueless.
Bet your high school social studies teacher would give you an A+!
"Between 2007 and 2009, after-tax earnings by Americans in the top one percent for income fell 37 percent. On a pre-tax basis they fell 36 percent in the same period.
Robert Frank
CNBC Reporter
& Editor
That may sound like a minor haircut for One Percenters compared to people who lost their jobs. But when you take into account federal transfers, assistance and taxes paid, the incomes of the bottom 20 percent grew by 3 percent, while it fell a modest 2 percent for the middle 20 percent.
In other words, the incomes of the top one percent fell 18 times more than the incomes for the middle class at the start of the recession."
The Falling Fortunes of the One Percent -- U.S. Business News - CNBC
You were shot down the last time you tried to pass off that tid-bit. Why do you think it will work this time?
Cherry picking the Stock Market crash of 2007-2009 as evidence that the rich have a declining income is deceptive
Why don't you comment on their wealth growth from 2009-2012 when the market has doubled and employee wages and benefits have decreased?
Uh oh.
Amazing how you continue to make things up, and they pretend that they actually happened.
I hope it's just intentional fabrication, designed so that you don't have to actually confront the CNBC quote....
...but, I'm afraid it's that dementia showing up.
Professor
Care to hypothesize on the effect a Stock Market drop from 14,000 to 6,600 would have on the income of the wealthy?
Then explain to the board why you selected that particular window to compare the wealth of the rich to the working class