If they're making huge profits and pay nothing? When the richest end up with all the new wealth? Duh.
The top 10% of wage earners in this country pay nearly 70% of all collected income taxes. By liberal standards, 70% is not enough. So what is enough to satisfy a welfare state liberal?
"How much is YOUR fair share of what somebody else worked for?"
Thomas Sowell
Listen, stupid . The rich have been making out like bandits and the middle class and poor are losing for 35 years now. IDIOT. It's NOT their attitude DUH.
No, the middle class has been losing since 1970 under leftard presidents, leftard controlled house and senates, neocon presidents, neocon controlled house and senates....see a pattern here, dumb ass? The leftard clown posse talks a much better game than they play....always have. The demise of the middle class was planned by the oligarchs that really run and own this corporate entity that you lovingly refer to as your "gubermint".......
Wrong again, fool figure it out DUH:
The Demise of the American Middle Class In Numbers.
Over the past 35 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 63 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
A 13% drop since 1980
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
A 12.3% drop after Reagan.
4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.
Household Debt as percentage of GDP:
1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%
A 45% increase after 1980.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Links:
1 =
ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 =
https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 =
Clipboard01.jpg (image)
2 –
Congratulations to Emmanuel Saez
3 =
http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 =
U.S. Bureau of Economic Analysis (BEA)
4 =
Federated Prudent Bear Fund (A): Overview
4 =
FRB: Z.1 Release--Financial Accounts of the United States--June 9, 2016
5/6 =
15 Mind-Blowing Facts About Wealth And Inequality In America
Overview =
http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts