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Thread: Over 90% of the income gains in the first year of the recovery went to the top 1%

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    I guess you missed the 400 millionaires that petitioned congress to raise the capital gains tax rates.
    And if those people had any balls or truly meant what they said all they would have to do is DO it. I guess you 'missed' that. Geeeezus...pathetic. Save us, big government!!!

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by VanceMack View Post
    And if those people had any balls or truly meant what they said all they would have to do is DO it. I guess you 'missed' that. Geeeezus...pathetic. Save us, big government!!!

    Oh you think only the rich Democrats should be responsible to their fellow citizens? We will take that into consideration when we vote in November.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    Oh you think only the rich Democrats should be responsible to their fellow citizens? We will take that into consideration when we vote in November.
    Only a statist would think paying more taxes to a wasteful government is "being responsible to their fellow citizens"

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    Oh you think only the rich Democrats should be responsible to their fellow citizens? We will take that into consideration when we vote in November.
    Look at you...thats so cute...
    You mention how much rich democrats really really WISH they could be forced to do more...then when it is pointed out they COULD you divert from the reality to...what...its only DEMOCRATS responsibility? Baby...its their responsibility to be HONEST...not a continued bunch of hypocrites. Of course...it hardly matters...all they have to do is pull the strings....

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by JP Hochbaum View Post
    “In 2010, average real income per family grew by 2.3% … but the gains were very uneven. Top 1% incomes grew by 11.6%, while bottom 99% incomes grew only by 0.2%. Hence, the top 1% captured 93% of the income gains in the first year of recovery. Such an uneven recovery can help explain the recent public demonstrations against inequality.”

    The 10 page update offers a clear picture of how income shares have varied over different business cycles, as well as the long-term trends since 1917. Top income shares fell dramatically after World War II, stayed flat, then began to rise in the early 1980s and have returned to their pre-War levels.

    The top 10% in the US take now take home about 47% of all income, but this is driven by the top 1% who account for 20%.

    The difference between the business cycle of the 1990s and the 2000s is that the incomes of the bottom 99% grew by 20% between 1993 and 2000, but only by 6.8% between 2002 and 2007.

    Saez suggests that this “may … help explain why the dramatic growth in top incomes during the Clinton administration did not generate much public outcry while there has been a great level of attention to top incomes in the press and in the public debate since 2005.”

    Over 90% of the income gains in the first year of the recovery went to the top 1% « Economics for public policy
    When government policies kill middle and low income jobs, what do you expect to happen?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    Oh you think only the rich Democrats should be responsible to their fellow citizens? We will take that into consideration when we vote in November.
    Do you pay more taxes than you have to? You pass yourself off as being rich, so surely you refuse to take deductions and pay taxes on your gross income. Yes?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by apdst View Post
    Do you pay more taxes than you have to? You pass yourself off as being rich, so surely you refuse to take deductions and pay taxes on your gross income. Yes?
    Income Taxes are not voluntary. Is that what you are proposing? The fact that some of the wealthy realize that the can afford to pay more and want to contribute will not fix the problem. The lowest rates in history for the largest personal incomes in history are helping to create the biggest deficits in history. I thought all you righties were all riled up about the deficit?

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by iguanaman View Post
    Income Taxes are not voluntary. Is that what you are proposing? The fact that some of the wealthy realize that the can afford to pay more and want to contribute will not fix the problem. The lowest rates in history for the largest personal incomes in history are helping to create the biggest deficits in history. I thought all you righties were all riled up about the deficit?
    The fed has dumped another 7 trillion onto the debt heap in 3 years. To what end? Buying their way into 'prosperity'? Look...heres the basic fact...anyone in this country that claims to 'want' to give more is lying. All they have to do is simply GIVE MORE. Either they are sincere...or they are pandering liars. If they are sincere they would GIVE MORE. There is no law that says they cant, nor is there a law that says they have to hire attorneys and accountants to exploit every tax loophole they can while PRETENDING to actually give a **** about the poor. There is a world of difference between DOING more and saying gosh...Id really really LIKE to do more.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by apdst View Post
    Do you pay more taxes than you have to? You pass yourself off as being rich, so surely you refuse to take deductions and pay taxes on your gross income. Yes?

    What are you talking about??? I have never said I was rich, because I am not. I am just a small business owner that barely gets by after expenses and bills.


    The 400 millionaires that petitioned Congress to increase tax rates, are wise enough to know that when wealth disparity gets as large as it has become in the US, like the third world countries - Turkey, Mexico, and Chile, there is not enough consumer demand to drive the economy.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  10. #150
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by JP Hochbaum View Post
    “In 2010, average real income per family grew by 2.3% … but the gains were very uneven. Top 1% incomes grew by 11.6%, while bottom 99% incomes grew only by 0.2%. Hence, the top 1% captured 93% of the income gains in the first year of recovery. Such an uneven recovery can help explain the recent public demonstrations against inequality.”

    The 10 page update offers a clear picture of how income shares have varied over different business cycles, as well as the long-term trends since 1917. Top income shares fell dramatically after World War II, stayed flat, then began to rise in the early 1980s and have returned to their pre-War levels.

    The top 10% in the US take now take home about 47% of all income, but this is driven by the top 1% who account for 20%.

    The difference between the business cycle of the 1990s and the 2000s is that the incomes of the bottom 99% grew by 20% between 1993 and 2000, but only by 6.8% between 2002 and 2007.

    Saez suggests that this “may … help explain why the dramatic growth in top incomes during the Clinton administration did not generate much public outcry while there has been a great level of attention to top incomes in the press and in the public debate since 2005.”

    Over 90% of the income gains in the first year of the recovery went to the top 1% « Economics for public policy
    so? why should I care what the rich make? let them worry about themselves, they appear to be good enough at it.

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