Fault Lines: The Top 1%

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heartcream -> Fault Lines: The Top 1% (9/9/2011 8:28:08 AM)
The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts and bail outs for rich people is just nuts.

tj444 -> RE: Fault Lines: The Top 1% (9/9/2011 8:32:59 AM)
AlJazeera???

willbeurdaddy -> RE: Fault Lines: The Top 1% (9/9/2011 9:07:14 AM)
quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts ....for rich people is just nuts. Good thing there havent been any tax cuts for the rich.

slvemike4u -> RE: Fault Lines: The Top 1% (9/9/2011 9:33:26 AM)
ROFLMAO....willbur you are too funny.

heartcream -> RE: Fault Lines: The Top 1% (9/9/2011 10:52:20 AM)
AUGUST 29, 2011, 11:18 AM ET Wealthy Should Give Their Tax Cuts to Charity, Millionaire Says

DomYngBlk -> RE: Fault Lines: The Top 1% (9/9/2011 1:46:23 PM)
quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts and bail outs for rich people is just nuts. Sad sad fact......Thanks for the link

tweakabelle -> RE: Fault Lines: The Top 1% (9/9/2011 8:57:41 PM)
quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts and bail outs for rich people is just nuts. Absolutely. The validity of your claim is confirmed by the fact that the US experience you outline is entirely consistent with the outcomes in practically every major Western economy. This trend gathered pace with the adoption of neo-liberal economics and policies in the Reagan-Thatcher era and has accelerated since everywhere neo-liberal economic ideology was implemented. That virtually all these economies are currently experiencing terrible difficulties - high unemployment, recessions, social dislocation and stresses - while recording record profits and ever increasing wealth for a tiny minority of ultra-wealthy plutocrats demonstrates it's main aim is to entrench the wealth of the plutocrats at the expense of the rest of us. There is no reason to believe this trend will alter as long as nations maintain their blind adherence to the dictates of the discredited failed ideology of neo-liberal/free market economics - possibly history's most 'successful' con trick.

Aneirin -> RE: Fault Lines: The Top 1% (9/10/2011 5:58:29 AM)
For capitalism to prosper, poverty has to exist ! And in such a system there are those with obscene wealth and those with obscene poverty and every direct comparison in between. Now I am not intending to denigrate capitalism because of what it is, nor because I inhabit the lower echelons of the capitalistic system, and as it happens I happen to believe some elements of capitalism are good, the chief being that capitalism provides the carrot for those who are able and wanting to better themselves, where is the wrong in that ? But my ideal of capitalism is the situation where when the level has been achieved where one has become comfortable, then a helping hand should be extended to others to get on the first rung of bettering themselves, the ''have done it's '' help those not moving, get moving and there everyone raises the standard of everyone else, everyone is responsible for each other, so a sort of socio-capitalist system if there can be such a thing, and one where it is hoped those at the top better themselves by developing a conscience where out and out greed it is hoped is dissolved. But why is greed so prevalent, even promoted in society ?

StrangerThan -> RE: Fault Lines: The Top 1% (9/10/2011 6:21:59 AM)
quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts and bail outs for rich people is just nuts. Compare http://news.bbc.co.uk/2/hi/business/6211250.stm We seem to be doing better than most of the world at income distribution, or at the very least, no worse. http://sociology.ucsc.edu/whorulesamerica/power/wealth.html Dated but, comes damn close to later statistics http://mwcnews.net/focus/editorial/5333-wealth-distribution-in-america.html The reality, however, is quite different. It isn’t the Knights of Wealth, that 1 percent that owns 35 percent of the net worth and 43 percent of the financial wealth, that we need to worry about, but the next 19 percent as well… the Squires who hold 50 percent of the net worth and 50 percent of the financial wealth! [Data provided by economist Edward N. Wolff at New York University as of 2007.]

tj444 -> RE: Fault Lines: The Top 1% (9/10/2011 8:51:37 AM)
quote: ORIGINAL: StrangerThan http://mwcnews.net/focus/editorial/5333-wealth-distribution-in-america.html The reality, however, is quite different. It isn’t the Knights of Wealth, that 1 percent that owns 35 percent of the net worth and 43 percent of the financial wealth, that we need to worry about, but the next 19 percent as well… the Squires who hold 50 percent of the net worth and 50 percent of the financial wealth! [Data provided by economist Edward N. Wolff at New York University as of 2007.] oh but why stop there? the first link to the al jezeera bash-the-west-every-way-possible propoganda tells us that a couple making $110,000 or more is rich, cuz its more than the average of 50,000. That to me is not rich, its middle class and what is needed for a good economic engine... there are various levels and some people actually dont want to work harder or get further ahead, there is someone on these forums that has said $10,000/yr is the level he is happy at and sees no need to make more and doesnt think others should strive for more than just that kind of basic living. Should his standard be everyones? Personally, i feel that level is living on the edge and too close to being one step from homeless (should something happen to that meager $833/month). I dont ever see myself becoming excessively wealthy but i do want to be economically secure and feel comfortable to the level i want, which is what is great about capitalism, its the opportunity to do that. Btw, there are a lot of obscenely rich in the middle east too, well, at least as long as they have the oil to sell to the rest of us..

heartcream -> RE: Fault Lines: The Top 1% (9/10/2011 11:28:58 AM)
The feckwits who are greedy lizards and dont care at all about our Pretty planet or it's people live in any continent. They are the ones we need to send off in a space ship far, far, away. I think people with 100 grand are not poor but certainly not in the one percentile we are addressing either. I think it is a matter of intent. Rich people doing good with their lives and cash are fine by me. I am not sure what is going to happen with our money system over the next few years, I am curious to see what happens, how it plays out. As long as there is Third World no matter where we have a big problem. Imagine the input from these destitute countries if they werent busy starving to death and the like? Our White man world is so technological, which is fine but it would be mightily balanced out by other elements if Africa, India, South/Central American and wherever else wasnt dying on a daily basis rather than flourishing and thriving. The whole world has much to offer but one cannot offer up thier gifts and talents when they are not eating or getting proper water and basic needs met. The lizards need to get out off the path, get out of the way and quit being lizardy hoarders of wealth that thye do no good with. People starve in First and Second worlds too, it is nuts. Needs to stop. I love the idea of people doing what they love and growing in many ways because of it. I want a nice home and the ability to travel and the like, nothing wrong with that and I wish it for all my friends and all the good people of this Earth.

tj444 -> RE: Fault Lines: The Top 1% (9/10/2011 1:47:12 PM)
quote: ORIGINAL: heartcream The feckwits who are greedy lizards and dont care at all about our Pretty planet or it's people live in any continent. They are the ones we need to send off in a space ship far, far, away. I think people with 100 grand are not poor but certainly not in the one percentile we are addressing either. I think it is a matter of intent. Rich people doing good with their lives and cash are fine by me. I am not sure what is going to happen with our money system over the next few years, I am curious to see what happens, how it plays out. As long as there is Third World no matter where we have a big problem. Imagine the input from these destitute countries if they werent busy starving to death and the like? Our White man world is so technological, which is fine but it would be mightily balanced out by other elements if Africa, India, South/Central American and wherever else wasnt dying on a daily basis rather than flourishing and thriving. The whole world has much to offer but one cannot offer up thier gifts and talents when they are not eating or getting proper water and basic needs met. The lizards need to get out off the path, get out of the way and quit being lizardy hoarders of wealth that thye do no good with. People starve in First and Second worlds too, it is nuts. Needs to stop. I love the idea of people doing what they love and growing in many ways because of it. I want a nice home and the ability to travel and the like, nothing wrong with that and I wish it for all my friends and all the good people of this Earth. Well, the rich feckwits are not the worst imo. Sure they have more money and power than they know what to do with but there are others just as dangerous, such as the Somali pirates that will kill without a thought, the rapists and murderers in the Congo, those that kidnap young eastern European girls off the street as they are walking home from school and sell them into the slave trade to service multitudes of horny uncaring men, those that believe they can cure their aids by having sex with a young virgin girl, lets not forget those that start wars as well.. No matter how you try to distribute the wealth or help those that need it most, those scum will still do those horrible things...

whatisthewhat -> RE: Fault Lines: The Top 1% (9/10/2011 1:52:54 PM)
You know what? Love of money and worship of those who have created wealth for themselves (despite what "conservatives" tell you, they do only create wealth FOR THEMSELVES) will bankrupt the world, financially and, more importantly, morally. It's as plain as the nose upon your face.

tj444 -> RE: Fault Lines: The Top 1% (9/10/2011 9:37:50 PM)
quote: ORIGINAL: whatisthewhat You know what? Love of money and worship of those who have created wealth for themselves (despite what "conservatives" tell you, they do only create wealth FOR THEMSELVES) will bankrupt the world, financially and, more importantly, morally. It's as plain as the nose upon your face. You know what? There is an old saying, “shirtsleeves to shirtsleeves in three generations.” which means that the older generation started with nothing, worked hard and amassed wealth, and by the time their great-grandchildren are in charge, the family is back where they started, with nothing. The grandchildren are like lottery winners, they blow it all. jmo. Imo, thats why billionaires like Buffet and Gates say they will leave most or all of their estates to charity,.. they know their kids or grandkids will blow it all and it does the kids a diservice to give them such wealth when they dont know how to work. Giving it away means their kids have to work and learn to survive on their own.

heartcream -> RE: Fault Lines: The Top 1% (9/10/2011 11:46:11 PM)
What a heavy thread. Yeah, guys in the Congo stripping down groups of women, hunting down women with showing clits, and raping, killing and eating these women, their parts, because they think it brings them power, and all that kind of crazy thing going on over the planet is pure crap. Our poor world needs quite a bit of help.

DomImus -> RE: Fault Lines: The Top 1% (9/10/2011 11:49:17 PM)
quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts and bail outs for rich people is just nuts. Take all of the wealth in this country. Put it in one big fund. Divide that fund by the number of people in this country and give each person his/her "share". I am of the opinion that in fairly short order (maybe 10-20 years) all of the wealth will be right back in the hands of the same people it was to start with. The rich may be getting richer in this country but there is a reason for that. It is the same reason that some people are Warren Buffett and other people collect trash for a living.

Edwynn -> RE: Fault Lines: The Top 1% (9/11/2011 2:40:51 AM)
You mean conduct business as in Sweden or Austria or Switzerland or France or Germany or Denmark or Norway or Finland or the Netherlands or any other country that actually gives a flip about their own citizens, yet prosper far beyond the US or the UK? (the numbers don't lie) -That- you mean? yeah, good luck with that one. It would never fly here, and you know it. And while on the subject, those countries are doing better than the UK or US because they consider all workers as contributors to the economy and treat them thus wise regarding pay and benefits, unlike the disdain towards such as patently described in your post.

Edwynn -> RE: Fault Lines: The Top 1% (9/11/2011 3:47:16 AM)
No wonder this country lost so much manufacturing capacity, considering the ever lower esteem towards such as displayed here. This is why the continental Europe will survive, in spite of all the financial shenanigans of deregulated Wall St. wrecking the rest of the world, while the US itself can only go downhill while on this blind path.

rulemylife -> RE: Fault Lines: The Top 1% (9/11/2011 3:56:57 AM)
quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: heartcream The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years. Tax cuts ....for rich people is just nuts. Good thing there havent been any tax cuts for the rich. There haven't been??????????????? Were you asleep during Reagan and Bush?

Fellow -> RE: Fault Lines: The Top 1% (9/11/2011 4:01:11 AM)
quote: Tax cuts and bail outs for rich people is just nuts. Who needs taxes when the government can create money as much as they wish (out of nothingness). Besides, giving them more means more microwave ovens for you to pass through in the airports, homeland security centers in every village, more foreign wars. I think, the focus on taxes is a wrong direction. We should focus on how to change the system of income distribution, but not how to distribute more to the government. The government is over-extended to the limit.

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