The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

[Indeependent]

Are you saying the economy hasn't crashed 3 times in the past 40 years????? Or that wealth didn't start "trickling up" when Reagan was in power????

Every chart, every graph and every statistic from 1980 to date shows this steady trajectory of wealth rising to the top, and that increase in wealth is accelerated with every tax cut and every crash.

These are proven facts that Republicans continue to ignore, and worse, they lie about them. Tax cuts DON'T create jobs. Tax cuts DON'T pay for themselves.

And yet here you are claiming that the current wage and wealth inequities are a "fiction". Or worse, that Democrats caused them.

The US never recovered from the DOT COM so the economy has only crashed once.

 

[Toddsterpatriot]

Alexandria Ocasio-Cortez Net Worth 2024: Salary & Husband

As of 2024, American politician, Alexandria Ocasio-Cortez’s Net Worth is estimated to be $10 Million. Check out Alexandria Ocasio-Cortez’s Salary, and Income.

caknowledge.com

Case in point. No credible sources yet.

 

[Toddsterpatriot]

Are you saying the economy hasn't crashed 3 times in the past 40 years????? Or that wealth didn't start "trickling up" when Reagan was in power????

Every chart, every graph and every statistic from 1980 to date shows this steady trajectory of wealth rising to the top, and that increase in wealth is accelerated with every tax cut and every crash.

These are proven facts that Republicans continue to ignore, and worse, they lie about them. Tax cuts DON'T create jobs. Tax cuts DON'T pay for themselves.

And yet here you are claiming that the current wage and wealth inequities are a "fiction". Or worse, that Democrats caused them.

How does wealth "trickle up"?

Tax cuts DON'T create jobs.

Why not?

Tax cuts DON'T pay for themselves.

Some do, some don't.

 

[surada]

The US Is Officially A Banana Republic: ​

The Top 1% Now Own More Wealth Than The Entire Middle Class​

The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented we...

austrian.economicblogs.org

Summary:
In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class ... or rather make that precedented because there was another time when the top 0.1% had amassed as much wealth and it was just before the Great Depression. After all, who hasn't seen charts such as these showing the tremendous divergence in income earned by America's Top 1% at the expense of the middle and lower classes: Or that the top 10% now own 70% of all the US wealth, the same as the middle and lower classes combined...... up 10% from the 60% of wealth they controlled at the start of the century.
~Snip~
It's not just stocks that have benefited the super rich: housing has too. While a generation ago, the middle class held more than 44% of real estate assets in the country, it is now down to 38%. The pandemic generated a boom in housing values that has benefited most those who owned real estate in the first place. It also led to soaring rents this year, which hurt those who can’t afford a house. The self-feeding loop was yet another source of wealth transfer for the wealthier.
So the next time someone abuses the popular phrase "they hate us for our [fill in the blank]", perhaps it's time to counter that "they" may not "hate" us at all, but rather are making fun of what has quietly and slowly but surely become the world's biggest banana republic?
And it has not Russia, nor China, nor any other foreign enemy to blame except one: the Federal Reserve Bank of the United States.
Full story here

Comment:
Historically, bad shit ensues when this is sustained. Given a fed-up heavily armed populace, well....
The 18th century French banker and philosopher named Richard Cantillon noticed a phenomenon that when new money was issued by the king/government, it always flowed first to those closest to the source - the rich, powerful and connected.
He wrote called ‘An Essay on Economic Theory,” and his basic theory was that who benefits when the state prints a bunch of money is based on the institutional setup of that state. In the 18th century, this meant that the closer you were to the king and government power, the more you benefitted. The rich received “new money” first, often on beneficial terms. The further away you were, ie) average workers, the more you were harmed, due to inflation and debasement.
Money, in other words, is not neutral. This general observation, that money printing has distributional consequences that operate through the price system, is known as the “Cantillon Effect.”
The solution is simple. Break up Amazon and apply the law to politicians that have become multi-millionaires by insider trading.

If the middle class keeps shrinking we'll be Venezuela.

Donald Trump Paid $0 in Federal Income Taxes in 2020

Information about the former president's taxes was released Tuesday by the House Ways and Means Committee

www.yahoo.com

 

[Indeependent]

If the middle class keeps shrinking we'll be Venezuela.

Donald Trump Paid $0 in Federal Income Taxes in 2020

Information about the former president's taxes was released Tuesday by the House Ways and Means Committee

www.yahoo.com

We already knew this from his 1st debate with Hillary, didn’t we?

 

[surada]

We already knew this from his 1st debate with Hillary, didn’t we?

Yes. Trump said he was smart enough not to pay taxes.

Donald Trump Paid $0 in Federal Income Taxes in 2020

Information about the former president's taxes was released Tuesday by the House Ways and Means Committee

www.yahoo.com

 

[Indeependent]

Yes. Trump said he was smart enough not to pay taxes.

Donald Trump Paid $0 in Federal Income Taxes in 2020

Information about the former president's taxes was released Tuesday by the House Ways and Means Committee

www.yahoo.com

Just like all of Biden’s donors.

 

[Aldo Raine]

Just like all of Biden’s donors.

Link?

 

[Indeependent]

Link?

Are you retarded?
Did Hillary respond to Trump when he said all corporate political donors pay 0 taxes?

 

[Aldo Raine]

Are you retarded?
Did Hillary respond to Trump when he said all corporate political donors pay 0 taxes?

So you have no link that proves what you said about all of ByeDon's donors NOT paying taxes? You made the statement all I am doing is asking for you to back it up?

 

[Indeependent]

So you have no link that proves what you said about all of ByeDon's donors NOT paying taxes? You made the statement all I am doing is asking for you to back it up?

You’re are correct; non-billionaires in the slums give so much money and pay taxes.

 

[initforme]

Why are people offended when the division of economic classes is discussed? We are divided by economic class. It's always been this way. Always will be. Yet some are offended by it.

 

[Aldo Raine]

You’re are correct; non-billionaires in the slums give so much money and pay taxes.

So you were lying, thank you!

 

[Indeependent]

So you were lying, thank you!

Since we’re both liars, we can be friends.

 

[Nostra]

This is why I support when people break things.

So you supported the J6 “insurrection”.

Good to know.

 

[Aldo Raine]

Since we’re both liars, we can be friends.

Nah, I don't know you well enough to call you anything more than a message board acquaintance.

 

[pknopp]

So you supported the J6 “insurrection”.

Good to know.

I said I supported their right to protest but I didn't support the reason why.

 

[Nostra]

I said I supported their right to protest but I didn't support the reason why.

No, you said you support people who break things.

Try again..

 

[Soupnazi630]

The US Is Officially A Banana Republic: ​

The Top 1% Now Own More Wealth Than The Entire Middle Class​

The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class

In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented we...

austrian.economicblogs.org

Summary:
In some ways, we sympathize with Neel Kashkari's fake "concern" about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class ... or rather make that precedented because there was another time when the top 0.1% had amassed as much wealth and it was just before the Great Depression. After all, who hasn't seen charts such as these showing the tremendous divergence in income earned by America's Top 1% at the expense of the middle and lower classes: Or that the top 10% now own 70% of all the US wealth, the same as the middle and lower classes combined...... up 10% from the 60% of wealth they controlled at the start of the century.
~Snip~
It's not just stocks that have benefited the super rich: housing has too. While a generation ago, the middle class held more than 44% of real estate assets in the country, it is now down to 38%. The pandemic generated a boom in housing values that has benefited most those who owned real estate in the first place. It also led to soaring rents this year, which hurt those who can’t afford a house. The self-feeding loop was yet another source of wealth transfer for the wealthier.
So the next time someone abuses the popular phrase "they hate us for our [fill in the blank]", perhaps it's time to counter that "they" may not "hate" us at all, but rather are making fun of what has quietly and slowly but surely become the world's biggest banana republic?
And it has not Russia, nor China, nor any other foreign enemy to blame except one: the Federal Reserve Bank of the United States.
Full story here

Comment:
Historically, bad shit ensues when this is sustained. Given a fed-up heavily armed populace, well....
The 18th century French banker and philosopher named Richard Cantillon noticed a phenomenon that when new money was issued by the king/government, it always flowed first to those closest to the source - the rich, powerful and connected.
He wrote called ‘An Essay on Economic Theory,” and his basic theory was that who benefits when the state prints a bunch of money is based on the institutional setup of that state. In the 18th century, this meant that the closer you were to the king and government power, the more you benefitted. The rich received “new money” first, often on beneficial terms. The further away you were, ie) average workers, the more you were harmed, due to inflation and debasement.
Money, in other words, is not neutral. This general observation, that money printing has distributional consequences that operate through the price system, is known as the “Cantillon Effect.”
The solution is simple. Break up Amazon and apply the law to politicians that have become multi-millionaires by insider trading.

Typically Banana republic refers to a nation with an unstable government

Not one where the upper class owns most of the wealth

A small number owning most of the wealth means..................................nothing and causes no harm

 

[Doc7505]

Typically Banana republic refers to a nation with an unstable government

Not one where the upper class owns most of the wealth

A small number owning most of the wealth means..................................nothing and causes no harm

~~~~~~
Tell me that this Republic is stable?