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America was one of the few nations in the world left with any significant industrial capacity after WWII...Little wonder we made damn near everything.Addressing class warfare pimps only lends their arguments of avarice and covetousness validity.The OP is correct, I don't see anyone refuting the facts.
This trend will continue. Look, we have wages about where they were in constant 1982 Real Dollars and it's been an over 30 year trend. And at the same time, Corporate America which dictates the marketable wage, is enjoying great profits, while holding down wages. Now, the trend includes not only holding wages but also making great profits while minimizing their workforce. But they are hiring overseas where labor is cheaper.
Why would this tend not continue? What will happen to the Middle Class?
We've had going on 100 years of a central bank issuing a worthless currency, the income tax, nearly 70 years of New Deal socialism, more than 45 years of Great Society socialism, untold domestic handout and "investment" programs...Yet things keep getting worse.
And all the the class warfare pimps can tell us is that it's all the fault of the evil rich people.
Fuck Robert Reich.
Actually things have only been getting worse for the last 40 years. The two decades after WWII witnessed the greatest prosperity in modern times, if not world history. But when the elites discovered that they could make themselves even richer by investing in Asia rather than the US, things started to fall apart. Look for the decline to accelerate.
THE 5 percent of Americans with the highest incomes now account for 37 percent of all consumer purchases, according to the latest research from Moodys Analytics. That should come as no surprise. Our society has become more and more unequal.
When so much income goes to the top, the middle class doesnt have enough purchasing power to keep the economy going without sinking ever more deeply into debt which, as weve seen, ends badly. An economy so dependent on the spending of a few is also prone to great booms and busts. The rich splurge and speculate when their savings are doing well. But when the values of their assets tumble, they pull back. That can lead to wild gyrations. Sound familiar?
The economy wont really bounce back until Americas surge toward inequality is reversed. Even if by some miracle President Obama gets support for a second big stimulus while Ben S. Bernankes Fed keeps interest rates near zero, neither will do the trick without a middle class capable of spending. Pump-priming works only when a well contains enough water.
Look back over the last hundred years and youll see the pattern. During periods when the very rich took home a much smaller proportion of total income as in the Great Prosperity between 1947 and 1977 the nation as a whole grew faster and median wages surged. We created a virtuous cycle in which an ever growing middle class had the ability to consume more goods and services, which created more and better jobs, thereby stoking demand. The rising tide did in fact lift all boats.
During periods when the very rich took home a larger proportion as between 1918 and 1933, and in the Great Regression from 1981 to the present day growth slowed, median wages stagnated and we suffered giant downturns. Its no mere coincidence that over the last century the top earners share of the nations total income peaked in 1928 and 2007 the two years just preceding the biggest downturns.
http://www.nytimes.com/2011/09/04/o...llow-a-strengthening-of-the-middle-class.html
I have a question. I want an honest answer. I do not want some programmed response or talking point.
Ready?.....Ok.....What is the "share" of "national income"?
What that shows me is that the eeeeeevil and reviled rich will do whatever it takes to keep covetous little swine like you from getting to what's rightfully theirs.
What that shows me is that the eeeeeevil and reviled rich will do whatever it takes to keep covetous little swine like you from getting to what's rightfully theirs.
Unfortunately, the less well of can't afford to feed their families and keep the looters at bay at the same time...Thus, the prophesy of the Marxist freebooter becomes self-fulfilling.
They don't...They just have more deductions.
If you were really concerned about this issue in the least bit, you'd be for junking the income tax altogether.
But you're not, in either case...Seems you'd rather bitch about people who have more than you.
The rich absolutely hate, have a disdain for the middle class because that's a tiny little bit of more money that they could have. Those who dont like the class warfare stuff dont know that it is a part of a capitalistic society. I frankly cant blame them for their condesending attitudes as they are set, have it made.
The rich absolutely hate, have a disdain for the middle class because that's a tiny little bit of more money that they could have. Those who dont like the class warfare stuff dont know that it is a part of a capitalistic society. I frankly cant blame them for their condesending attitudes as they are set, have it made.
Really? So if you do work I assume you do, then is it your assertion that because a guy in San Diego makes "X" you then are forced to accept "Y"?The fact is when one person is overpaid, other people are being cheated.
The wealthy are thieves. Their wealth is solely due to other people being underpaid.
The wealth gain their wealth by the economically advantaged taken advantage of the economically disadvantaged.
Warren Buffet has an opinion. That opinion resonates with the class envy crowd. Buffet also has a political agenda that includes a methodology of controlling the people. Certain wealthy people are threatened by economic freedom. They believe it is in their best interest to have government maintain control over the people so that the wealthy can be left alone to their pursuits.The rich absolutely hate, have a disdain for the middle class because that's a tiny little bit of more money that they could have. Those who dont like the class warfare stuff dont know that it is a part of a capitalistic society. I frankly cant blame them for their condesending attitudes as they are set, have it made.
There are plenty of rich people who believe that they are taxed too low, and I don't think its because they are socialist or communist. Warren Buffet was accused of being just that when he said that he thought he was taxed too low. The richest man in the country is a commy? No thats ridiculous.
I also don't think he feels that he and people like him should pay more taxes because he cares so much about people less off then him, it's because he cares so much about his country and its future, because he realizes that we cannot continue like we are and be the great nation that we once were.
The lib class envy crowd refuse to touch a question like that.THE 5 percent of Americans with the highest incomes now account for 37 percent of all consumer purchases, according to the latest research from Moodys Analytics. That should come as no surprise. Our society has become more and more unequal.
When so much income goes to the top, the middle class doesnt have enough purchasing power to keep the economy going without sinking ever more deeply into debt which, as weve seen, ends badly. An economy so dependent on the spending of a few is also prone to great booms and busts. The rich splurge and speculate when their savings are doing well. But when the values of their assets tumble, they pull back. That can lead to wild gyrations. Sound familiar?
The economy wont really bounce back until Americas surge toward inequality is reversed. Even if by some miracle President Obama gets support for a second big stimulus while Ben S. Bernankes Fed keeps interest rates near zero, neither will do the trick without a middle class capable of spending. Pump-priming works only when a well contains enough water.
Look back over the last hundred years and youll see the pattern. During periods when the very rich took home a much smaller proportion of total income as in the Great Prosperity between 1947 and 1977 the nation as a whole grew faster and median wages surged. We created a virtuous cycle in which an ever growing middle class had the ability to consume more goods and services, which created more and better jobs, thereby stoking demand. The rising tide did in fact lift all boats.
During periods when the very rich took home a larger proportion as between 1918 and 1933, and in the Great Regression from 1981 to the present day growth slowed, median wages stagnated and we suffered giant downturns. Its no mere coincidence that over the last century the top earners share of the nations total income peaked in 1928 and 2007 the two years just preceding the biggest downturns.
http://www.nytimes.com/2011/09/04/o...llow-a-strengthening-of-the-middle-class.html
Well written, you can tell by the neo-con responses; attacking the author and attacking the messenger with nothing about the subject which is spot-on.
I'd be pleased if you would entertain the following question:
How does it harm you if your neighbor earns ten times what you earn?
Would it because deep down they know who the real culprit is and just cannot bear the shame of having to admit they were duped in November 2008?I don't understand why lefltoon imbeciles continue to blame damn near anything and everything bad that happens on GEORGE BOOOOOOOOOSH!I don't understand why anyone would continue to apologize for Bush's redistribution of wealth.
There can't be that many posters on this BB in the top 5% of wage earners.
You're basing all this sniveling on 400 people?!?!?!?They don't...They just have more deductions.
If you were really concerned about this issue in the least bit, you'd be for junking the income tax altogether.
But you're not, in either case...Seems you'd rather bitch about people who have more than you.
I make 100K a year, so don't worry about me....
WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.
Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com
Why should the super rich pay a LOWER TAX RATE than the rest of us?
Warren Buffet has an opinion. That opinion resonates with the class envy crowd. Buffet also has a political agenda that includes a methodology of controlling the people. Certain wealthy people are threatened by economic freedom. They believe it is in their best interest to have government maintain control over the people so that the wealthy can be left alone to their pursuits.The rich absolutely hate, have a disdain for the middle class because that's a tiny little bit of more money that they could have. Those who dont like the class warfare stuff dont know that it is a part of a capitalistic society. I frankly cant blame them for their condesending attitudes as they are set, have it made.
There are plenty of rich people who believe that they are taxed too low, and I don't think its because they are socialist or communist. Warren Buffet was accused of being just that when he said that he thought he was taxed too low. The richest man in the country is a commy? No thats ridiculous.
I also don't think he feels that he and people like him should pay more taxes because he cares so much about people less off then him, it's because he cares so much about his country and its future, because he realizes that we cannot continue like we are and be the great nation that we once were.
Many other wealthy people responded to Buffet's comments. They disagreed. Some rather vehemently. Buffet does not care about anyone but Warren Buffet.
What makes you think giving more money to the federal government is going to change the way it does it's work?
You're basing all this sniveling on 400 people?!?!?!?They don't...They just have more deductions.
If you were really concerned about this issue in the least bit, you'd be for junking the income tax altogether.
But you're not, in either case...Seems you'd rather bitch about people who have more than you.
I make 100K a year, so don't worry about me....
WASHINGTON, D.C.--The 400 highest-earning taxpayers in the U.S. reported a record $105 billion in total adjusted gross income in 2006, but they paid just $18 billion in tax, new Internal Revenue Service figures show. That works out to an average federal income tax bite of 17%--the lowest rate paid by the richest 400 during the 15-year period covered by the IRS statistics. The average federal tax bite on the top 400 was 30% in 1995 and 23% in 2002.
Richest 400 Earn More, Pay Lower Tax Rate - Forbes.com
Why should the super rich pay a LOWER TAX RATE than the rest of us?
Fuck me running.
BTW, nice use of the opportunity to brag about how much money you make.
