Looks like there is no need to redistribute wealth...... come on man, for once i want you to crack from the pro government stance, are you going to tell me that in the oil business you have never seen a ridiculous regulation?
America needs another brilliant thinker like Milton Friedman
- Thread starter Max E.
- Start date
That chart does not speak to distribution.
Still trying to make the linkage from the "expansion of government" (my first table of data) to the "destruction of the middle class". And regulation, which you mentioned, doesn't seem to be doing much to real per capita GDP.
Hey Ricter,
What would you call this? A 45 or parabolic?
I'd call that the American people's confidence in treasuries. Now get back to work, and pay your taxes, so I can redeem mine!
Which is why libturds like rectum like him so much.
here are some stats.. which show we should eliminate the income tax on the 99.5% ... the income tax allows the top 1% (weighted to the .o5%) to accumulate all the wealth.
http://finance.yahoo.com/blogs/daily-ticker/top-5-facts-america-richest-1-183022655.html
#1) The Top 1% Owns 40% of the Nation's Wealth:
Nobel Laureate Joseph Stiglitz points out the richest 1% of Americans now own 40% of the nation's wealth. This disparity is much worse than it was in the past, as just 25 years ago the top 1% owned 33% of national wealth.
How much does the bottom 80% own? Only 7%.
#2) The Top 1% Take Home 24% of National Income:
While the richest 1% of Americans take home almost a quarter of national income today, in 1976 they took home just 9% -- meaning their share of the national income pool has nearly tripled in roughly three decades.
#3) The Top 1% Own Half of the Country's Stocks, Bonds and Mutual Funds: The Institute for Policy Studies illustrates this massive disparity in financial investment ownership, noting that the bottom 50% of Americans own only 0.5% of these investments.
#4) The Top 1% of Americans Have Only 5% of the Nation's Personal Debt:
Using 2007 figures, sociologist William Domhoff points out that the top 1% have 5% of the nation's personal debt while the bottom 90% have 73% of total debt.
#5) The Top 1% Are Taking In More off the Nation's Income Than at Any Other Time Since the 1920s: Not only are the wealthiest 1% of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at any other time since the Great Depression, as the Center for Budget and Policy Priorities illustrates in this chart, using 2007 data.
Watch the video for more of Jilani's thoughts, and then tell us what you think!
http://finance.yahoo.com/blogs/daily-ticker/top-5-facts-america-richest-1-183022655.html
#1) The Top 1% Owns 40% of the Nation's Wealth:
Nobel Laureate Joseph Stiglitz points out the richest 1% of Americans now own 40% of the nation's wealth. This disparity is much worse than it was in the past, as just 25 years ago the top 1% owned 33% of national wealth.
How much does the bottom 80% own? Only 7%.
#2) The Top 1% Take Home 24% of National Income:
While the richest 1% of Americans take home almost a quarter of national income today, in 1976 they took home just 9% -- meaning their share of the national income pool has nearly tripled in roughly three decades.
#3) The Top 1% Own Half of the Country's Stocks, Bonds and Mutual Funds: The Institute for Policy Studies illustrates this massive disparity in financial investment ownership, noting that the bottom 50% of Americans own only 0.5% of these investments.
#4) The Top 1% of Americans Have Only 5% of the Nation's Personal Debt:
Using 2007 figures, sociologist William Domhoff points out that the top 1% have 5% of the nation's personal debt while the bottom 90% have 73% of total debt.
#5) The Top 1% Are Taking In More off the Nation's Income Than at Any Other Time Since the 1920s: Not only are the wealthiest 1% of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at any other time since the Great Depression, as the Center for Budget and Policy Priorities illustrates in this chart, using 2007 data.
Watch the video for more of Jilani's thoughts, and then tell us what you think!
Your assertion, "the income tax allows the top 1% (weighted to the .o5%) to accumulate all the wealth" does not follow from the items you pasted above. It may well be that taxes "should" be cut for the 99%, but it will be for other reasons, not those.
I seem to recall the dems and Obama trying to pass a tax cut (payroll tax?) for the "99%", but the reps would not cooperate (surprise!) unless there were tax cuts for the 1% too, to be "fair", of course.