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

  1. #151
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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 cpwill View Post
    so? why should I care what the rich make?
    Because too much concentration of wealth at the top has a detrimental effect on the the economy. It's the economy, stupid

    "The greater the disparity in wealth between the very rich and everyone else, the more unstable an economy becomes.

    Our nation has now created a larger gap in the distribution of wealth than the massive chasm that helped fuel the Great Depression.

    In 1928, one year before the global economic collapse, the wealthiest .001% of the U.S. population owned 892 times more than 90% of the nation’s citizens. Today, the top .001% of the U.S. population owns 976 times more than the entire bottom 90%. This is not sustainable, and makes for a very volatile economy. It would appear that the American empire is about to crash.
    Source: EcoLocalizer (Plutocracy Reborn: U.S. Wealth Inequality Gap Largest since 1928)

    Plutocracy Reborn: U.S. Wealth Inequality Gap Largest since 1928
    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

  2. #152
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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 cpwill View Post
    so? why should I care what the rich make? let them worry about themselves, they appear to be good enough at it.
    Why dont you know? If it wasnt for the wealthy investing and earning that money the poor could be doing it! And raking in all the bennies and proceeds and...

    Oh....wait...I see the flaw in that logic. They dont earn...dont invest...47% of them dont even contribute to the resources they leech off of and if it wasnt for the top 10%, the great majority of them would starve, die, and rot in a heap somewhere.

    Huh...

  3. #153
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    I have posted this a few times, and I am going to post it again.

    The rich are getting richer and richer because the poor and middle classes give all of their money to the rich. The poor and middle classes refuse to spend their money on small or locally owned businesses. They want the cheap crap sold by big box stores, made in sweat shops in china, and love contributing to the wealth separation in this country because they feel like they got a deal.

    If the poor and middle class want to balance things out, STOP GIVING ALL YOUR MONEY TO THE RICH! Seriously stop going to walmart and instead buy your clothes from local people who make them. Stop buying your groceries from chain stores that import veggies artificially grown and visit a damn farmers market. You will pay a bit more, but you will be helping someone else who is struggling. You will be bridging the gap between the wealthy and the poor. You will be helping to stabilize the American economy.

    But nooooooo. Most people are going to shrug say they don't give a crap, spend their check at Wal-Mart then cry because the rich keep getting richer and good jobs are leaving. Consumers are the problem. Big business is filling the demand that we create.

  4. #154
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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
    Because too much concentration of wealth at the top has a detrimental effect on the the economy. It's the economy, stupid

    "The greater the disparity in wealth between the very rich and everyone else, the more unstable an economy becomes.

    Our nation has now created a larger gap in the distribution of wealth than the massive chasm that helped fuel the Great Depression.

    In 1928, one year before the global economic collapse, the wealthiest .001% of the U.S. population owned 892 times more than 90% of the nationís citizens. Today, the top .001% of the U.S. population owns 976 times more than the entire bottom 90%. This is not sustainable, and makes for a very volatile economy. It would appear that the American empire is about to crash.
    Source: EcoLocalizer (Plutocracy Reborn: U.S. Wealth Inequality Gap Largest since 1928)

    Plutocracy Reborn: U.S. Wealth Inequality Gap Largest since 1928
    nah. there is nothing inherently unstable about having some people do better than others. it doesn't matter what the wealthy makes - it matters that the poor and lower income folks continue to have the ability and incentive to make more.

  5. #155
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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 cpwill View Post
    nah. there is nothing inherently unstable about having some people do better than others.
    The historical record of the Great Depression and the Great Recession argue otherwise. Corrections in the tax system and financial regulations were needed in both cases.
    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

  6. #156
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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 cpwill View Post
    nah. there is nothing inherently unstable about having some people do better than others. it doesn't matter what the wealthy makes - it matters that the poor and lower income folks continue to have the ability and incentive to make more.
    The incentive to make more is always there. What isn't always present is opportunity or ability.
    My blog, where I talk latest news on economics and some other issues.

    http://hereticaldruthers.wordpress.com/

  7. #157
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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
    The incentive to make more is always there. What isn't always present is opportunity or ability.
    Ability? How the **** do you propose to legislate ability? Opportunity is being crushed by regulatory burden on small businesses. The more onerous you make regulation on business without differentiating between small businesses and large, the easier it become for large businesses to put the small guy out.

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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
    The historical record of the Great Depression and the Great Recession argue otherwise.
    not really. correlation =/= causation, and you will note they only cite select years. I could make an equally well-backed case regarding the economic effects of the length of womens' skirts.
    Last edited by cpwill; 03-14-12 at 06:51 PM.

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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
    The incentive to make more is always there.
    sadly this is not the case, as we have discovered with some of our best-intentioned programs.

    What isn't always present is opportunity or ability.
    not yet. one day, perhaps; but currently it is only difficult for many of our lower-income folks. I am all for improving their abilities to do so, which is why I am such a huge advocate of education reform, and such a huge disparager of our easy-divorce culture.

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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 OpportunityCost View Post
    Ability? How the **** do you propose to legislate ability? Opportunity is being crushed by regulatory burden on small businesses. The more onerous you make regulation on business without differentiating between small businesses and large, the easier it become for large businesses to put the small guy out.
    which is why the dirty not-so-secret is that large business usually welcomes government interference in their market. not only does it protect them from competition by small businesses, but they often get to write the rules by which they are governed, thereby protecting their market share. Everyone out there who thinks you can Get Big Fill-In-Industry through a heavier government hand... that's like arguing that you're going to go hunt sharks by throwing baby seals at them.

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