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

  1. #631
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    I agree, but the players somehow managed to pin AAA ratings on dog crap loans paying high returns, and that was possible because they could "insure" the losses on that dog crap with unregulated derivatives (simplified of course).

    And we were I thought talking about the debt bubble and collapse, and now you need to make it partisan, so are bringing Obama into it. If there's a proposal by Obama to lower lending standards again, I'll probably agree it's a bad idea. But I looked briefly and didn't see anything new. Can you be specific?
    http://www.cnbc.com/id/43768290
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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

    Got anything post 2011?

    BTW, you can look really hard but you won't find me shedding any tears for BoA being mistreated by the bad government... Here's a story http://www.nytimes.com/2013/02/17/bu...anted=all&_r=0

    Huh, that's nice, the NY Fed intervenes on BoA case to let them off the hook for a few billion in losses on bad loans they sold to AIG. Gosh, who bailed out AIG? We did! It's a nice laundry device because every dollar through AIG, and even dollars that never got to AIG but which we're ultimately on the hook for, is a direct bailout of AIG's customers, like BoA.

    Here's another one Bank of America getting extra $20B in bailout funds - ABC News

    Gosh, so sad, come running to taxpayers for a $45 BILLION aid package, then whine that some tiny little strings that require trivial loans to the disadvantaged are attached. Shame on Obama.

    Where's my world's smallest violin?

  3. #633
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by whysoserious View Post
    Where am I up in arms that someone has more money than me? LOL Don't make up random ****, ludin, that's bad form.

    (Oh and it is available to him, he just needs to earn less money. He can weigh the risks and benefits, and if it's so easy and great as you guys say, then he can choose to live below the poverty line and apply for some federal benefits).
    this folks is liberal logic at it's finest.

    nope not making stuff up at all. if liberals spent less time ranting about the 1% and more time working and doing stuff then they would be in the 1% as well.

  4. #634
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Middleground View Post
    For ****'s sake, Fletch... they are the ones who are indirectly governing. You think they donate gobs of cash and offer posh post-political career jobs cuz they're charitable?
    So in other words, you cant come up with a single way that the rich pose a threat to you. Got it.

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

    Quote Originally Posted by ludin View Post
    this folks is liberal logic at it's finest.

    nope not making stuff up at all. if liberals spent less time ranting about the 1% and more time working and doing stuff then they would be in the 1% as well.
    No they wouldn't, that would require insane luck, the 1% have the system gamed. The top 80 richest individuals in the world already own more than the poorest three billion! How does anybody jump that gap with a bit of hard work?
    Don't work out, work in.

    Never eat anything that's served in a bucket.

  6. #636
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by KevinKohler View Post
    Federal income tax accounts for about half of all taxes brought in.

    You're forgetting sales tax, excise taxes, property taxes, etc.

    I don't have the link right now, but the numbers clearly show that, yes, the wealthy DO pay more total taxes than the rest....but it's far, far LESS of a percentage of total earnings.


    In other words, everyone else SACRIFICES more of their total earnings to pay their tax bill than the wealthy.

    BFD-the wealthy receive THE LEAST value for each tax dollar they pay. The wealthy pay more actual dollars and get NOTHING extra in return

    You all forget about that all the time



  7. #637
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    Got anything post 2011?

    BTW, you can look really hard but you won't find me shedding any tears for BoA being mistreated by the bad government... Here's a story http://www.nytimes.com/2013/02/17/bu...anted=all&_r=0

    Huh, that's nice, the NY Fed intervenes on BoA case to let them off the hook for a few billion in losses on bad loans they sold to AIG. Gosh, who bailed out AIG? We did! It's a nice laundry device because every dollar through AIG, and even dollars that never got to AIG but which we're ultimately on the hook for, is a direct bailout of AIG's customers, like BoA.

    Here's another one Bank of America getting extra $20B in bailout funds - ABC News

    Gosh, so sad, come running to taxpayers for a $45 BILLION aid package, then whine that some tiny little strings that require trivial loans to the disadvantaged are attached. Shame on Obama.

    Where's my world's smallest violin?
    Loans with interest aren't handouts. You act like the government isn't profiting off this. Hell, the government is charging the banks a higher rate of interest on those loans than the banks charged for the mortgages they got stuck with. Why don't liberals know that handouts and loans are different because loans must be paid back? If everyone understood that loans must be repaid, we might not have had a financial crisis due to all the deadbeats shrugging their shoulders instead of fulfilling their obligations.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

  8. #638
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by Manc Skipper View Post
    No they wouldn't, that would require insane luck, the 1% have the system gamed. The top 80 richest individuals in the world already own more than the poorest three billion! How does anybody jump that gap with a bit of hard work?
    the same way they did.
    save and invest, save and invest. it has nothing to do with luck.

    I look to double my salary over the next 5 years or so. it won't have anything to do with luck but being good at what I do.
    I have been to places with real wage gap. America is nothing.

  9. #639
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by JasperL View Post
    Got anything post 2011?

    BTW, you can look really hard but you won't find me shedding any tears for BoA being mistreated by the bad government... Here's a story http://www.nytimes.com/2013/02/17/bu...anted=all&_r=0

    Huh, that's nice, the NY Fed intervenes on BoA case to let them off the hook for a few billion in losses on bad loans they sold to AIG. Gosh, who bailed out AIG? We did! It's a nice laundry device because every dollar through AIG, and even dollars that never got to AIG but which we're ultimately on the hook for, is a direct bailout of AIG's customers, like BoA.

    Here's another one Bank of America getting extra $20B in bailout funds - ABC News

    Gosh, so sad, come running to taxpayers for a $45 BILLION aid package, then whine that some tiny little strings that require trivial loans to the disadvantaged are attached. Shame on Obama.

    Where's my world's smallest violin?
    yea but it was those same lower standards that caused the whole banking mess to begin with.
    if you can't afford a house then you can't afford a house.

    rent or get a condo until you can.

  10. #640
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    Re: The 1% will own more than the 99% by 2016, report says

    Quote Originally Posted by j-mac View Post
    The actual strawman is in liberals posing that we are saying that the poor on welfare have it good....It's ridiculous...And you came out with the usual meme 'well, they should try it', And I called you on it, now you are running from your own words....hilarious....

    On a more serious note though, that IS what you and other libs believe...That the wealthy don't deserve their wealth, and that they should give most of it up so that it can be re distributed to the poor....If you want my take, I think that there should be a flat tax of say 15% across the board from the lowest, to the highest, and no cap on income, and no loophole deductions. That way it really would be FAIR!
    J-mac, it's useless talking to you because you just make up **** that other people say. Every post is a giant straw man.

    Learn how to debate. It's annoying. And I never said "try it".
    Ted Cruz is the dumbest person alive.

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