top 5 % own more than half of the wealth

[Truthmatters]

Top 5% holds more than half of the country

 

[Trajan]

and 40% of the populace pay no nets taxes after its all over and that top 5% pays what portion of all fed. tax revenue?

 

[JBeukema]

 

[Truthmatters]

the class war is being waged by the wealthy on the rest of us

 

[Truthmatters]

http://epi.3cdn.net/002c5fc0fda0ae9cce_aem6idhp5.pdf



The wealthiest 1% of U.S. households had net worth that was 225 times greater than the median or typical household’s
net worth in 2009. This is the highest ratio on record.

 

[Truthmatters]

Fewer and fewer Americans hold all the wealth in this country and fools still vote for more of it.


When will the right leaning voters wake up?

 

[LordBrownTrout]

So what are we to do with those rich people????

 

[Truthmatters]

Make them pay their fair share of taxes.

 

[LordBrownTrout]

Flat tax everyone 15 percent and get away from the corrupt progressive tax system and everyone wins.

 

[Truthmatters]

Because of the housing bust, home equity as a percent of home value fell from 59.5% in the first quarter of 2006 to
36.2% in the fourth quarter of 2009. For the first time on record, the percent of home value that homeowners own
outright dropped below 50%—meaning that banks now own more of the nation’s housing stock than people do.


Banks got bailed out and then got more property in the deal.

Average tax payers got hosed and the right thinks we need more hosing.

 

[Truthmatters]

None on the right here will comment on these unprecidented numbers?

 

[midcan5]

I thought this funny and relevant. Third world status here we come, right back where we started from, plutocracy here we are, right back where we started....

Open Letter to President Obama on the Nomination of Elizabeth Warren | Common Dreams

"...At the announcement, you said that Mr. Immelt “understands what it takes for America to compete in the global economy.”

Did you mean that he understands how to avoid all federal income taxes for his company’s $14.2 billion in profits last year, while corralling a $3.2 billion benefit? Or did you mean that he understands how to get a federal bailout for GE Capital and its reckless exposure to risky debt? Or could you have meant that GE knows how to block unionization of its far flung workers here and abroad? Perhaps Mr. Immelt can share with you GE’s historical experience with lucrative campaign contributions, price-fixing, pollution and those nuclear reactors that are giving people fits in Japan and worrying millions of Americans here living or working near similar reactors...."

 

[Mad Scientist]

Because of the housing bust, home equity as a percent of home value fell from 59.5% in the first quarter of 2006 to
36.2% in the fourth quarter of 2009. For the first time on record, the percent of home value that homeowners own
outright dropped below 50%—meaning that banks now own more of the nation’s housing stock than people do.


Banks got bailed out and then got more property in the deal.

Average tax payers got hosed and the right thinks we need more hosing.

What does Obama say (or is doing) about this?

 

[LordBrownTrout]

15 percent tax on everyone, end the class warfare, knock out the debt. Buuuuuuuuuuuuuuut, y'all are too worried about perpetuating the class warfare. We get it.

 

[william the wie]

15 percent tax on everyone, end the class warfare, knock out the debt. Buuuuuuuuuuuuuuut, y'all are too worried about perpetuating the class warfare. We get it.

The Flat Tax does not address the trade deficit, a progressive VAT tax would. Since a VAT tax is placed on imports and refunded on exports that would help create jobs. Since a VAT is a tax on consumption it would also increase savings and investment.

 

[LordBrownTrout]

15 percent tax on everyone, end the class warfare, knock out the debt. Buuuuuuuuuuuuuuut, y'all are too worried about perpetuating the class warfare. We get it.

The Flat Tax does not address the trade deficit, a progressive VAT tax would. Since a VAT tax is placed on imports and refunded on exports that would help create jobs. Since a VAT is a tax on consumption it would also increase savings and investment.

Would this be contingent on dropping our current progressive tax before we implemented the VAT?

 

[william the wie]

15 percent tax on everyone, end the class warfare, knock out the debt. Buuuuuuuuuuuuuuut, y'all are too worried about perpetuating the class warfare. We get it.

The Flat Tax does not address the trade deficit, a progressive VAT tax would. Since a VAT tax is placed on imports and refunded on exports that would help create jobs. Since a VAT is a tax on consumption it would also increase savings and investment.

Would this be contingent on dropping our current progressive tax before we implemented the VAT?

I should hope so.

 

[RadiomanATL]

Make them pay their fair share of taxes.

They already pay nearly all the taxes.

You want them to pay more, while the bottom 40% pay none?

Doesn't sound too "fair" to me.

 

[Quantum Windbag]

Top 5% holds more than half of the country

If it makes you feel any better you can give up all your money and move to India. I do not blame you because you make more money in a day than most people in the world do in a year.

 

[Truthmatters]

why do you pretend they are paying more than they have in the past?