World's 85 richest earn more than 3.5 billion poorest: UN

[Gadawg73]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

 

[Dad2three]

Our spending problem is not that we're too generous with funding operations of government, it's entirely rooted in too much redistribution - taking wealth from some people and transferring it to others.

We live in a country which has one of the highest standards of living and this comes with a commensurate high cost of living. We have too many, and we keep importing more, people who can't produce enough economic value to live in this country. That's the problem, not that we fund public health research and monitoring via the Centers for Disease Control.

YEAH, THAT'S WHAT IT IS

Liberals love their charts and graphs to document their paranoia,yet they can't show how a rich man has harmed them in any way.

Whomever listens to Rush Limbaugh, et al, and believes the non-sense he blabbers about, must be at the same intellectual level.


In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data | Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.

 

[AvgGuyIA]

There is no problem but only the left with buckets of solutions in search of problems

Hats off to those 85 folks. Of course the human goal is to seek employment with the highest compensation. I never got there but they did. They won, I lost... IOW, life...

-Geaux

So that's how you ignorant Republicans think the worlds ultra wealthy got their money eh?
They went out and got themselves an hourly wage job and made......many, many billions.

Hey go, if you'd get a minimum wage job, that would be a nice increase in wages for you. Put you right up there with the top 85.

Actually, the very wealthy did work harder and smarter than the rest of us. Filling up D.C. with lobbyists to influence politicians. Any forklift operator or plumber could do the same if he had a few billion laying around. The end of another week of republican working stiffs licking, sucking, and drooling over the wealthiest among us.

Actually we don't give the rich much thought at all. That's all you Progs think about.

 

[Dad2three]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

RIGGED is the word you are looking for!

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data | Tax Foundation

GOV'T POLICY MATTERS !!!

 

[Gadawg73]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

RIGGED is the word you are looking for!

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data | Tax Foundation

GOV'T POLICY MATTERS !!!

Something about the rich keep doing the same things over and over and over and over that made them rich to begin with.
They make wise choices.
And the poor keep doing the same things over and over and over and over that make them poor.
Having babies out of wedlock they can not afford thus making them dependent on government.
The pie is always GROWING and the growth benefits those that EARN ONLY.

 

[Gadawg73]

Yes, let us limit what producers can make and that will help the "less fortunate".
Only a dumb ass believes that.
And the dumb masses now are the majority in America.

 

[Wry Catcher]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

"The liberal despises"? How do you know what any liberal thinks?

Do you ever think about what you have or are about to post? It seems not, all of your posts are predicated on an ideology which is myopic at best.

Do you believe setting a tax policy which will create a cavernous spread between the few and the many will allow any nation to prosper? If so, explain in some detail, Contrary to some, it does not trickle down unless an aggressive progressive tax system exists.

 

[Gadawg73]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

"The liberal despises"? How do you know what any liberal thinks?

Do you ever think about what you have or are about to post? It seems not, all of your posts are predicated on an ideology which is myopic at best.

Do you believe setting a tax policy which will create a cavernous spread between the few and the many will allow any nation to prosper? If so, explain in some detail, Contrary to some, it does not trickle down unless an aggressive progressive tax system exists.

I think every time a liberal has their hand in my pocket to steal the money I EARNED to give to someone else they and they only deem needs it more than I do.
Speaking of tax policy it would be me and conservatives that want to ditch the 80,000 page IRS code that Democrats have grown faster under Obama than any other President in favor of a consumption tax.
Democrats love the tax code that favors those with $$$.
Republicans want to end it.
Why do Democrats love the 80,000 tax code where 79.999 pages of it are for special interests?

 

[Wry Catcher]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

"The liberal despises"? How do you know what any liberal thinks?

Do you ever think about what you have or are about to post? It seems not, all of your posts are predicated on an ideology which is myopic at best.

Do you believe setting a tax policy which will create a cavernous spread between the few and the many will allow any nation to prosper? If so, explain in some detail, Contrary to some, it does not trickle down unless an aggressive progressive tax system exists.

I think every time a liberal has their hand in my pocket to steal the money I EARNED to give to someone else they and they only deem needs it more than I do.
Speaking of tax policy it would be me and conservatives that want to ditch the 80,000 page IRS code that Democrats have grown faster under Obama than any other President in favor of a consumption tax.
Democrats love the tax code that favors those with $$$.
Republicans want to end it.
Why do Democrats love the 80,000 tax code where 79.999 pages of it are for special interests?

You've made many allegations without evidence in the Red Herring posted here ^^^, much of which I doubt you have the ability to prove. The tax code is, I suspect, rife with tax breaks for special interest, my guess is most of which are to the benefit of business and industry.

Of course there are targeted tax credits for such things as child care, home insulation, etc., but the enormity of the money business and industry secure via lobbying is, again I suspect, many times greater than tax credits available to individuals.

 

[ScreamingEagle]

Yes, we generally call them conservatives

Wouldn't it be much nicer for you if we set about having the Big Sort and you could purge all the conservatives out of your nation. You could then invite all the poor people in the US, all the minorities, all the world's refugees to come live with you. You could impose true communism, you could impose draconian environmental protection laws, etc. Think of how heavenly of a society you could create.

Meanwhile, normal people could live in their own nation and not have to contend with liberals like you.

Isn't it time for a divorce?

You know what happens when you have a very static and simplistic view of a very dynamic and complex system? You find yourself being wrong almost all the time.


Today's TBGOPers Can't win on ideas. So they lie, cheat and distort


Blue States are from Scandinavia, Red States are from Guatemala A theory of a divided nation


In the red states, government is cheaper, which means the people who live there pay lower taxes. But they also get a lot less in return. The unemployment checks run out more quickly and the schools generally aren’t as good. Assistance with health care, child care, and housing is skimpier, if it exists at all. The result of this divergence is that one half of the country looks more and more like Scandinavia, while the other increasingly resembles a social Darwinist’s paradise.

Blue States are from Scandinavia, Red States are from Guatemala | New Republic

you keep posting this like it means something....

here's the real truth.....those blue states with all those fancy welfare programs are those states mostly going bankrupt....CA, NY, NJ, IL, PA, MI, MA......

when their debt balloons go pop they will look like broke Guatemalans running across the border.....but to the fiscally sound red states instead....actually many workng people/businesses are already running to the red states....

 

[Toro]

Apparently you don't know what a "hedge fund" is or does. And please share who those "people" are that voluntarily paid those commissions (it sure as **** ain't a "salary").

You don't really know what the **** you are talking about do ya?

Notwithstanding the amount of money hedge fund managers make, investors who give their money to hedge funds do so voluntarily.

Also, hedge funds are not brokers and are not paid commission. They are paid mostly on profit sharing generated from their earnings.

They give almost zero value to US. They are scavenger without much benefit but to a few


“risks being inundated by managers who are gaming the system rather than delivering high returns, which could ultimately lead to a collapse in investor confidence.”

Gaming the System: Are Hedge Fund Managers Talented, or Just Good at Fooling Investors? » Knowledge@Wharton

1990 $38 billion managed

2014 $2.2+ trillion




ABUSE OF STRUCTURED FINANCIAL PRODUCTS:


Misusing Basket Options to Avoid Taxes and Leverage Limits

I. EXECUTIVE SUMMARY

For the last decade, the U.S. Senate Permanent Subcommittee on Investigations has presented case histories showing how financial institutions, law firms, accountants, and others have designed and implemented complex financial structures to take advantage of and, at times, abuse or violate U.S. tax statutes, securities regulations, and accounting rules.



This investigation offers yet another detailed case study of how two financial institutions – Deutsche Bank AG and Barclays Bank PLC – developed structured financial products...., that used them to avoid federal taxes and leverage limits on buying securities with borrowed funds.

The basket option contracts examined by the Subcommittee investigation were used by at least 13 hedge funds to conduct over $100 billion in securities trades, most of which were short term transactions and some of which lasted only seconds. Yet the resulting short-term profits were frequently cast as long-term capital gains subject to a 20% tax rate (previously 15%) rather than the ordinary income tax rate (currently as high as 39%) that would otherwise apply to investors in hedge funds engaged in daily trading

Hearings| Homeland Security & Governmental Affairs Committee

I agree that carried interest should not be taxed as capital gains.

Now, how many hedge funds were bailed out during the Financial Crisis again?

 

[Dad2three]

Our spending problem is not that we're too generous with funding operations of government, it's entirely rooted in too much redistribution - taking wealth from some people and transferring it to others.

We live in a country which has one of the highest standards of living and this comes with a commensurate high cost of living. We have too many, and we keep importing more, people who can't produce enough economic value to live in this country. That's the problem, not that we fund public health research and monitoring via the Centers for Disease Control.

YEAH, THAT'S WHAT IT IS

Liberals love their charts and graphs to document their paranoia,yet they can't show how a rich man has harmed them in any way.

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data | Tax Foundation

GOV'T POLICY MATTERS !!!

If I 'make' a million dollars, I accumulated money from other people. I'm not actually producing cash, I'm acquiring theirs. Therefore, others have collectively lost a million dollars of purchasing power to me.

These people can't go demand new money just because I have all of their money.

They go broke, I get rich, and income inequality is a thing.

 

[boedicca]

Yes, some people are getting poorer. Heinlein noted why:

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”

 

[Dad2three]

EARN is the key word and fact here
The liberal despises everyone that earns a cent. That is their $$$ and they alone should be the determiners of how much each person receives from government whether they have earned it or not.

RIGGED is the word you are looking for!

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data | Tax Foundation

GOV'T POLICY MATTERS !!!

Something about the rich keep doing the same things over and over and over and over that made them rich to begin with.
They make wise choices.
And the poor keep doing the same things over and over and over and over that make them poor.
Having babies out of wedlock they can not afford thus making them dependent on government.
The pie is always GROWING and the growth benefits those that EARN ONLY.

Yes, because when the top 1% ONLY received 6%-9% of ALL US income from 1945-1980 but 23% by 2007, it was BECAUSE the 1%ers post Reaganomics worked harder *Shaking head*

 

[Dad2three]

Notwithstanding the amount of money hedge fund managers make, investors who give their money to hedge funds do so voluntarily.

Also, hedge funds are not brokers and are not paid commission. They are paid mostly on profit sharing generated from their earnings.

They give almost zero value to US. They are scavenger without much benefit but to a few


“risks being inundated by managers who are gaming the system rather than delivering high returns, which could ultimately lead to a collapse in investor confidence.”

Gaming the System: Are Hedge Fund Managers Talented, or Just Good at Fooling Investors? » Knowledge@Wharton

1990 $38 billion managed

2014 $2.2+ trillion




ABUSE OF STRUCTURED FINANCIAL PRODUCTS:


Misusing Basket Options to Avoid Taxes and Leverage Limits

I. EXECUTIVE SUMMARY

For the last decade, the U.S. Senate Permanent Subcommittee on Investigations has presented case histories showing how financial institutions, law firms, accountants, and others have designed and implemented complex financial structures to take advantage of and, at times, abuse or violate U.S. tax statutes, securities regulations, and accounting rules.



This investigation offers yet another detailed case study of how two financial institutions – Deutsche Bank AG and Barclays Bank PLC – developed structured financial products...., that used them to avoid federal taxes and leverage limits on buying securities with borrowed funds.

The basket option contracts examined by the Subcommittee investigation were used by at least 13 hedge funds to conduct over $100 billion in securities trades, most of which were short term transactions and some of which lasted only seconds. Yet the resulting short-term profits were frequently cast as long-term capital gains subject to a 20% tax rate (previously 15%) rather than the ordinary income tax rate (currently as high as 39%) that would otherwise apply to investors in hedge funds engaged in daily trading

Hearings| Homeland Security & Governmental Affairs Committee

I agree that carried interest should not be taxed as capital gains.

Now, how many hedge funds were bailed out during the Financial Crisis again?

That private markets race for short term profits thing that required Dubya bailing out to 'big to fail"?

 

[Dad2three]

Wouldn't it be much nicer for you if we set about having the Big Sort and you could purge all the conservatives out of your nation. You could then invite all the poor people in the US, all the minorities, all the world's refugees to come live with you. You could impose true communism, you could impose draconian environmental protection laws, etc. Think of how heavenly of a society you could create.

Meanwhile, normal people could live in their own nation and not have to contend with liberals like you.

Isn't it time for a divorce?

You know what happens when you have a very static and simplistic view of a very dynamic and complex system? You find yourself being wrong almost all the time.


Today's TBGOPers Can't win on ideas. So they lie, cheat and distort


Blue States are from Scandinavia, Red States are from Guatemala A theory of a divided nation


In the red states, government is cheaper, which means the people who live there pay lower taxes. But they also get a lot less in return. The unemployment checks run out more quickly and the schools generally aren’t as good. Assistance with health care, child care, and housing is skimpier, if it exists at all. The result of this divergence is that one half of the country looks more and more like Scandinavia, while the other increasingly resembles a social Darwinist’s paradise.

Blue States are from Scandinavia, Red States are from Guatemala | New Republic

you keep posting this like it means something....

here's the real truth.....those blue states with all those fancy welfare programs are those states mostly going bankrupt....CA, NY, NJ, IL, PA, MI, MA......

when their debt balloons go pop they will look like broke Guatemalans running across the border.....but to the fiscally sound red states instead....actually many workng people/businesses are already running to the red states....

Sure, the blue states will be going BK, lol

Weird how for 40+years I've hear those 'job creators' are leaving Cali, for the red state paradises, but Cali is STILL 50% larger economy than ANY other state!

 

[boedicca]

Methinks if Dad2three spent the time he now uses to Whinge about people who have more than he does on productive work instead, he might not be filled with so much jealous rage.

Just sayin'.

 

[Dad2three]

Yes, let us limit what producers can make and that will help the "less fortunate".
Only a dumb ass believes that.
And the dumb masses now are the majority in America.

Neo-Liberalism/Conservatives is/has destroyed the American Economy in favor of the so called "Job Creator"... In reality are "Job Exporters"...

 

[Dad2three]

Methinks if Dad2three spent the time he now uses to Whinge about people who have more than he does on productive work instead, he might not be filled with so much jealous rage.

Just sayin'.

Anger and jealousy? lol

Right wingers ONLY have false premises, distortions and lies in their tool boxes, as their policies CONTINUALLY fail for ANYONE but the 1%ers, ANYWHERE it's EVER been tried!

 

[boedicca]

I'll note that back in Dad2three's "Golden Age" when The Rich earned a smaller share of national income, The Poor did not have things like:

- Air conditioning
- Flat screen TVs
- Computers
- Cell phones

And very often, they also lacked refrigerator, indoor plumbing, washers and dryers...