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Thread: The 1% will own more than the 99% by 2016, report says

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by iguanaman View Post
    LOL So what are the Conservative policies that do not lead to income maldistribution? That will be the topic for 2016 so you better get some ready. We certainly can rule out tax cuts for the upper brackets and all the other supply-side claptrap, those are what started it all. You and the GOP are going to need something different.

    Do you have a graph that doesn't conveniently begin in 1979 and conveniently end in 2007? Thanks.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by iguanaman View Post
    So what are the Conservative policies that do not lead to income maldistribution?. . . . .
    The question assumes that there should be any sort of income distribution. This ain't Cuba or the Soviet Union, this is America. You've been reading too many Commie books.
    Last edited by TerryOfromCA; 01-19-15 at 06:25 PM. Reason: Typos

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Khayembii Communique View Post
    I don't even know what they mean when they say richest 1% anymore. If it's richest 1% by income globally, most people here are probably in the top 1%. According to this site, the top 1% global income earners are earning at least $32,000 per year. For the US, however, the top 1% in income is about $400,000.
    If you're looking at income. We have a high cost of living though, and most of that income is eaten up by the necessary expenditures to maintain our lifestyles. In terms of wealth, it looks like that site puts it at a net worth of $750,000 to be in the top 1% in terms of wealth.

    I think it's also worth pointing out that the top 1% is also unevenly distributed.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JANFU View Post
    So lowering tax for middle class would make them poorer? Higher tax on the rich. That is what Obama was proposing?

    Obama really doesn't care about the Middle class.

    If he did he wouldn't have signed ObamaCare, or ALREADY raised taxes on the Rich.

    No what he CARES about is trying to push more empty Left wing narratives and trying to score Political points.

    Its what motivates him. People suffering and the Middle class shrinking ? He doesn't give a rats ass about that.

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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by TerryOfromCA View Post
    The questions assumes that there should be any sort of income distribution. This ain't Cuba or the Soviet Union, this is America. You've been reading too many Commie books.
    There needs to be income distribution. Money is "grease." It facilitates the transfer of goods and services. If there are significant portions of the population that have no "grease," the transfer of goods and services breaks down. Kids don't get educated. Start-ups can't be boot-strapped. Consumers don't have discretionary income to fuel the economy.

    It's as if you were to take a motor and grease only a single bearing, and then expect the motor to work.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by brothern View Post
    If you're looking at income. We have a high cost of living though, and most of that income is eaten up by the necessary expenditures to maintain our lifestyles. In terms of wealth, it looks like that site puts it at a net worth of $750,000 to be in the top 1% in terms of wealth.

    I think it's also worth pointing out that the top 1% is also unevenly distributed.
    Of course but when one mentions "the top 1%" by income that doesn't take into account cost of living.

    As for $750,000 net worth, that seems higher but still isn't as high as those who use the term "1%" try to make it out to be.

    I'm just pointing out how strange it is for everyone to be fixated on this magical number.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Khayembii Communique View Post
    Of course but when one mentions "the top 1%" by income that doesn't take into account cost of living.

    As for $750,000 net worth, that seems higher but still isn't as high as those who use the term "1%" try to make it out to be.

    I'm just pointing out how strange it is for everyone to be fixated on this magical number.
    1% is a lot easier to say than the top 0.0063587% or whatever arbitrary number is chosen.
    Last edited by brothern; 01-19-15 at 06:26 PM.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Fletch View Post
    Do you have a graph that doesn't conveniently begin in 1979 and conveniently end in 2007? Thanks.
    I do not but I have data from the early 60's.

    Wealth gap has widened

    NEW YORK (CNNMoney.com) -- Over the past 40 years, those at the top of the money food chain have seen their wealth grow at a rate far outpacing everyone else, according to a new analysis released by the Economic Policy Institute, a liberal research group.

    In the early 1960s, the top 1 percent of households in terms of net worth held 125 times the median wealth in the United States. Today, that gap has grown to 190 times.

    The top 20 percent of wealth-holding households, meanwhile, held 15 times the overall median wealth in the early 1960s. By 2004, that gap had grown to 23 times.

    https://www.americanprogress.org/iss...-middle-class/
    New Census Bureau data released today illustrate once again the extent to which America’s middle class is struggling to recover from both the Great Recession and the decades of unequal economic growth that preceded it. Household incomes remained essentially flat in 2013—far below their pre-recession levels—and the share of the national economic pie that goes to the middle class continued to stagnate close to record lows. At the same time, those at the very top claimed the majority of the income growth seen since the recession’s end.

    CPSCharticle_fig1.png
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Fletch View Post
    So what?
    I guess freedom means **** all to you.
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JANFU View Post
    This began decades ago. Before Bush-Obama -
    Started catching major steam during the Reagan era.
    “No men are anywhere, and I’m allowed to go in, because I’m the owner of the pageant and therefore I’m inspecting it,” Trump said... “‘Is everyone OK’? You know, they’re standing there with no clothes. ‘Is everybody OK?’ And you see these incredible looking women, and so I sort of get away with things like that.”

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