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Thread: Census finds record gap between rich and poor

  1. #21
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Goof Noodle View Post
    America's poor are still wealthier then most people living in the world.
    That irrelevent.
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by PeteEU View Post
    Lamest argument ever...

    What ya gonna do.. export you poor to those countries so they become "rich" there?
    Our poor couldn't survive in most other countries....
    I have poor siblings, and acquaintences, and almost all of them are lacking in work ethic and/or ambition.
    OTOH, those that get hit in the face with things beyond their control, those are the ones we should be helping first to get back on their feet, back to paying taxes again...
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by apdst View Post
    Unemployment is so high, because of the uncertainty being caused by government legislation and the threat of legislation. Make corporations feel comfortable that they're not going to get hosed with more taxes and bull**** healthcare bills and cap-n-trade and you'll see things start to improve. The unemployment rate has been caused by the government's policies killing jobs.
    those high income individuals and businesses, whose wealth is expanding in this down economy, are not hiring because of uncertainty you say
    this (notso)great recession was not caused by a boom fueled by artificially low interest rates, greed and failure of public regulation in your view, only the uncertainty of government legislation, increasing taxes and healthcare legislation

    let's look at the logic of your surmise
    the recession was underway before the health care bill was even being pondered. and its financial impact on business has not yet been felt
    taxes are lower than they have been in a half century, causing one to wonder why tax rates are of such heightened concern to businesses
    and what federal regulation is on the horizon which would have significant financial implications for business ... and what are those financial implications which are so feared
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by justabubba View Post
    those high income individuals and businesses, whose wealth is expanding in this down economy, are not hiring because of uncertainty you say
    this (notso)great recession was not caused by a boom fueled by artificially low interest rates, greed and failure of public regulation in your view, only the uncertainty of government legislation, increasing taxes and healthcare legislation

    let's look at the logic of your surmise
    the recession was underway before the health care bill was even being pondered. and its financial impact on business has not yet been felt
    taxes are lower than they have been in a half century, causing one to wonder why tax rates are of such heightened concern to businesses
    and what federal regulation is on the horizon which would have significant financial implications for business ... and what are those financial implications which are so feared
    Banks are simply not lending money or taking risks like they were before the "crash". Businesses are keeping money in reserve and cutting back because of it. Simple as that. Increasing taxes will make businesses withdraw even further. You cannot deny that Obama and the Democrats are threatening either to let the current tax cuts expire and/or raise taxes. How is that going to inspire business to expand? Artifcially low interest rates were part of the problem that fueled the "crash" but what does that have to do current uncertainty? How will raising taxes make anything better?

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    Re: Census finds record gap between rich and poor

    I'm not sure if the numbers in the OP's article are accurate.

    Since the mid 90's, the top 10% (incomes over $113k) have earned between 40 and 48% of all income in the US. At the same time, the top 25% (incomes over $66k) earned between 63 and 68% of all income in the US.

    The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

    It doesn't seem possible that now the top 20% 1) is only those making over $100k, and 2) only earned 49% of all income.
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by justabubba View Post
    those high income individuals and businesses, whose wealth is expanding in this down economy, are not hiring because of uncertainty you say
    this (notso)great recession was not caused by a boom fueled by artificially low interest rates, greed and failure of public regulation in your view, only the uncertainty of government legislation, increasing taxes and healthcare legislation

    let's look at the logic of your surmise
    the recession was underway before the health care bill was even being pondered. and its financial impact on business has not yet been felt
    taxes are lower than they have been in a half century, causing one to wonder why tax rates are of such heightened concern to businesses
    and what federal regulation is on the horizon which would have significant financial implications for business ... and what are those financial implications which are so feared
    Businesses, whose wealth is expaning make a very small minority in this economy.

    Raising taxes on businesses, whose wealth isn't expanding, even shrinking, is a stupid idea.
    Quote Originally Posted by Top Cat View Post
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  7. #27
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    Re: Census finds record gap between rich and poor

    I read this the other day and thought it would pertain to the topic.....
    The United States has one of the widest rich-poor gaps of any high-income nation today, and that gap continues to grow.[16] In recent times, some prominent economists including Alan Greenspan have warned that the widening rich-poor gap in the U.S. population is a problem that could undermine and destabilize the country's economy and standard of living stating that "The income gap between the rich and the rest of the US population has become so wide, and is growing so fast, that it might eventually threaten the stability of democratic capitalism itself".

    Rich-poor gap gaining attention / The Christian Science Monitor - CSMonitor.com

    Standard of living in the United States - Wikipedia, the free encyclopedia
    The widening income gap threatens the stability of our democratic capitalist society. And that was Alan Greenspan talking in 2005.
    Last edited by Moot; 09-28-10 at 04:47 PM.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by apdst View Post
    Businesses, whose wealth is expaning make a very small minority in this economy.

    Raising taxes on businesses, whose wealth isn't expanding, even shrinking, is a stupid idea.

    your positions do not reconcile with the facts

    we are at a point where the tax rate is extremely low, when compared to rates over the past half century

    if it were true that low tax rates resulted in low jobless rates our economy should not now be in the midst of a great recession
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by hazlnut View Post
    Now is not the time to give an additional tax break to the wealthy and super-wealthy.
    Good thing that no one is talking about doing that.

  10. #30
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by justabubba View Post
    if it were true that low tax rates resulted in low jobless rates our economy should not now be in the midst of a great recession
    This assumes, of course, that tax rates are the only thing that affect emplyment/unemployment.

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