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

  1. #21
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Here just like the other similiar thread....... The reason for this is because of the policies of Bernanke and Geithner. They have done nothing but pump Wall Street full of money the last few years. Who do you think is getting this money?

    It proves nothing about "trickle down" either as artifical measures prove nothing. No, if you simply give money away it's not going to trickle down in the ways the economy needs to improve. Create new businesses and that money will trickle down.

    The answer is not for more taxes, it's for ending the welfare we are provided to Wall Street.

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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
    I wish we would just start to ignore what goes on with the 1% - if we only had 1% of our nation being poor we wouldn't pay that 1% any difference. In fact: it would be a triumph that the numbers were so small.

    The 1% does not effect me, my family, my husband's earning. . . and in the future if we go through with our business plans we won't be the 1% - we will be the employing 99% via small business and we still won't be affected by the 1% unless they crawl into our shop and buy everything.

    If we keep comparing ourselves to the 'best of the best' we'll never be successful and we'll always come up short. That's like how i use to be in school: comparing myself to the valedictorian .. . . and I as good as her, am I as smart as him? Am I as organized?

    But it's not even like that, really - it's more like "we're not as successful as he/she so we need to interfere with their life so they don't look so good"

    Why so jealous? Just let it go - focus on what you CAN change and what you CAN do something about instead of festering on what you have absolutely no control over.
    Last edited by Aunt Spiker; 03-06-12 at 09:17 AM.
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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
    It is true that the top 1% will always earn a greater income. But since trickle down started that percentage has become at its worse since before WW2. After WW2 we had the Keynesian Era and the gap was historically at its lowest. Then in 1980 trickle down policies started and have continued. And since then the gap in earnings has not only been immoral but also non existant for wage earners.
    1980's. hmm... what major change in economic policy was just administered in the previous decade.

    you blame trickle down, but ignore that we are on a completely new monetary system for convenience

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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 ARealConservative View Post
    1980's. hmm... what major change in economic policy was just administered in the previous decade.

    you blame trickle down, but ignore that we are on a completely new monetary system for convenience
    That happened in 1971, which had nothing to do with how money was distributed or taxed. It still goes through banks and through government spending, none fo that has changed. What has changed has been taxation and how it is being spent and where.
    My blog, where I talk latest news on economics and some other issues.

    http://hereticaldruthers.wordpress.com/

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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
    Most of us on the right from a fiscal perspective were against the stimulus. I dont know what point you are trying to prove other than we shouldn't have spent it. Corporate cronyism is rampant in both parties.

    The far left thinks more government in everything is good, which means more cronyism or lessen the impact of government so its got its hand in fewer things.

    Oh and look the top 10% makes up 70% of the income taxes on 45% of the AGI.
    Attachment 67123408
    Not only irrelevant but miss leading. The well off will ALWAYS pay a larger share of the total tax income of the state.. it is simple math. Even with a "fair tax" system the rich would pay a huge portion of the tax income of the state. Hence it is a hyperhole excuse and totally miss leading.
    PeteEU

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

    "Trickle down" is like the N word for economic policy, the correct term is supply side and it works. At least use the proper term if you want honest discussion.

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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
    Yes, it is called the internet. I suggest you check out sites like Google and what not to search for how it works.
    Now I'm REALLY confused. Your point was about the internet...? And now I should use Google and similar sites to see how the internet works? What does that have to do with the OP?

    I am not trying to be obtuse but rather understand what idea you are advancing. Please excuse my ignorance if it is obvious and I am missing it.

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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 Dickieboy View Post
    Now I'm REALLY confused. Your point was about the internet...? And now I should use Google and similar sites to see how the internet works? What does that have to do with the OP?

    I am not trying to be obtuse but rather understand what idea you are advancing. Please excuse my ignorance if it is obvious and I am missing it.
    I was being sarcastic and mean. There are two eras in recent histoy in which government taxation or policies had nothing to do with how well the economy was doing: the roaring twenties, brought on by the automobile, and the internet boom of the 1990's.
    My blog, where I talk latest news on economics and some other issues.

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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
    I was being sarcastic and mean. There are two eras in recent histoy in which government taxation or policies had nothing to do with how well the economy was doing: the roaring twenties, brought on by the automobile, and the internet boom of the 1990's.
    hahaha.

    nothing at all do with it. Imagine how much better it would of been if the government ran a huge deficit and piled on taxes after taxes in the 20's! We were so close to achieving that utopia too!

    Same in the 90's. Why, if the cold war hadn't of ended we would of been even in a bigger economic boom. cuts in military spending was killing our boom

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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 sawyerloggingon View Post
    "Trickle down" is like the N word for economic policy, the correct term is supply side and it works. At least use the proper term if you want honest discussion.
    Not true sir.... From David Stockman the Reagan appointee to the OMB
    Stockman was quoted as referring to Reagan's tax act as: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... It's kind of hard to sell 'trickle down.' So the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory." Of the budget process during his first year on the job, Mr. Stockman is quoted as saying: "None of us really understands what's going on with all these numbers," which was used as the subtitle of the article.
    The Education of David Stockman - Magazine - The Atlantic
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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