The top 1% get 93% of income growth: Bloomberg

So, listening to the cons on this board, you would think that the whining employees of this country, the lazy middle class, are completely at fault for their economic reality. This article looks at the issue from a non partial point of view.

Top 1% Got 93% of Income Growth as Rich-Poor Gap Widened - Bloomberg

So, maybe a good look at what is being said in this study can generate some discussion. Over the years, my reading of the subject of income distribution heavily weighted to the top is a really really good indication of the end of the reign of leading economies.

But always, always, the wealthy fight any changes, clear to the bitter end.

The other question that comes to mind is obvious. Is this the country that you expected to see, and is it the economy that you want to live with.
Tax Increases and Deficits
Whereas the federal budget was balanced throughout
the low-tax 1920s, the huge tax increases of the 1930s
coincided with large deficits. On the campaign trail in
1932 Roosevelt noted: “For over two years our federal
government has experienced unprecedented deficits, in
spite of increased taxes.”3 Under Roosevelt, however, total
federal tax revenues jumped from $1.9 billion in fiscal
year 1932 to $6.5 billion by FY1940. Yet, the FY1940
deficit of $2.9 billion was larger than the FY1932 deficit
of $2.7 billion (see Figure 1). That tripling of tax revenues
occurred during a near-zero inflation period. (In 1938, a
near budget balance occurs because of a sharp drop in
veterans spending and a sharp tax increase under the new
Social Security payroll tax).
\
http://www.cato.org/pubs/tbb/tbb-0303-14.pdf
Pointing toward the 1920's is really interesting. The 1920's were a period of setting up the US economy for the greatest depression in US History. Funny.
 
I work my ass off so that someday I may be one of those rich 1% or 2%. All things considered it most likely will not happen, but if I don't keep at it one will never know. The one fact I do know is that there is this misconceived notion that this class warfare game is directed at the wealthy, but the numbers indicate the real target is the middle class and small business owners.

What is it with those that sit on the left bench, do they honestly think everyone in America is stupid and naive, as themselves? If in fact you do care about this "cliff" why is it that they and their chosen Messiah will not cut spending?
 
Pointing toward the 1920's is really interesting. The 1920's were a period of setting up the US economy for the greatest depression in US History. Funny.

How moronic to say a whole decade caused the Great Depression. Friedman and Bernanke (the acknowledged experts) say it was caused merely by the Federal Reserve letting the money supply drop by 60% at one particular point. Do you like always being mistaken??
 
Do you ever try to find info from a non partisan site? .



The liberal clown is still claiming only he knows the sites that have the truth.

But, despite being asked 26 times he is unable to say which site indiciates that liberalism make sense and why!!
 

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