Easy way to double the net worth of 60% of all US households

Quote from Tsing Tao:

This thread, and FC's suggestion is to confiscate the wealth of all the "rich". Bam, done. My whole point is that it was a stupid suggestion, as not only should it not be done, but it can't be done - ever.

Now, if you're talking about revolution or something, then sure. But the likely people to suffer the most in such a revolution is the government. Inequality breeds contempt, but inequality coupled with corruption is far, far worse.
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Oh BTW, my suggestion was not serious but was simply a way to make a point. I should know better than to assume righties would understand an oblique argument.

Since the 1980s, rich households in the United States have earned a larger and larger share of overall income. The 1 percent earns about one-sixth of all income and the top 10 percent about half. This is not good from an ethical standpoint or an economic one.
 
Here's the other thing. These rich bastards, I mean job creators, are making their money by using money. Much of it is wealth created by financial manipulation which creates little in the way of production or anything really useful. This money manipulation has fueled the huge inequity between these "hard workers" and the rest of us lazy chumps.

"The past three decades have been a period of explosive growth for Wall Street and the financial industry. Meanwhile, a tiny slice of the population has claimed an ever-bigger share of this country's economic rewards. The highest-earning one percent of Americans collected roughly 20 percent of total income last year; the top .01 percent – not enough people to fill a football stadium – had 5.5 percent of the income.
Could there be a connection here? Could our booming financial sector, which now generates an astonishing30 percent of all corporate profits (more than double the figure of thirty years ago), help explain America's rapid ascent to the highest level of economic inequality since the eve of the Great Depression, and the highest of any of the world's rich nations? A growing number of economists and other authorities think the first trend may have more than a little something to do with the second."

http://www.usnews.com/opinion/...-american-inequality
 
Quote from futurecurrents:

Oh BTW, my suggestion was not serious but was simply a way to make a point. I should know better than to assume righties would understand an oblique argument.

Since the 1980s, rich households in the United States have earned a larger and larger share of overall income. The 1 percent earns about one-sixth of all income and the top 10 percent about half. This is not good from an ethical standpoint or an economic one.
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So you come to this forum and repeatedly spout out nonsense and lunacy, and then expect us to tell the difference when you're being serious and when you're not?

That's rich.
 
Quote from Tsing Tao:

So you come to this forum and repeatedly spout out nonsense and lunacy, and then expect us to tell the difference when you're being serious and when you're not?

That's rich.
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No, I don't expect righties to get it. Not at all.

Do you at least now know that the richest 400 have the same wealth as the poorest 60% ? Or do I need to use a graphic.
 
Quote from futurecurrents:

No, I don't expect righties to get it. Not at all.

Do you at least now know that the richest 400 have the same wealth as the poorest 60% ? Or do I need to use a graphic.
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I don't know that particular statistic, but I know that you can take X number of rich and make it equal to X percent of the poorest in the country. You can do the same for the world. So what? That will always be the case! There will always be a % of rich folks that make up a vast percentage of poor folks.

Or is it your intention to change the law of mathematics?
 
Quote from futurecurrents:

Here's the other thing. These rich bastards, I mean job creators, are making their money by using money. Much of it is wealth created by financial manipulation which creates little in the way of production or anything really useful. This money manipulation has fueled the huge inequity between these "hard workers" and the rest of us lazy chumps.

"The past three decades have been a period of explosive growth for Wall Street and the financial industry. Meanwhile, a tiny slice of the population has claimed an ever-bigger share of this country's economic rewards. The highest-earning one percent of Americans collected roughly 20 percent of total income last year; the top .01 percent – not enough people to fill a football stadium – had 5.5 percent of the income.
Could there be a connection here? Could our booming financial sector, which now generates an astonishing30 percent of all corporate profits (more than double the figure of thirty years ago), help explain America's rapid ascent to the highest level of economic inequality since the eve of the Great Depression, and the highest of any of the world's rich nations? A growing number of economists and other authorities think the first trend may have more than a little something to do with the second."

http://www.usnews.com/opinion/...-american-inequality
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Futurecurrents, are you trying to play the ignorant card? It's the left that has done this. The reason we have this inequality is because of the central banking system and the print at all cost mantra of the left. The rich are not "earning" any income. They are "making" it via asset inflation. Get rid of the FED, assets go to shit, the world returns to equilibrium. Remember, it's Krugman that says we are not printing enough. It's Krugman that says we need more debt not less. It's Krugman that says we need to generate more inflation. So who is that going to benefit? The RICH!!!!!!!!!! So you ARE playing the ignorance card right?

Second, let me address the other bullshit point you brought up. All this money is sitting in some vault somewhere not adding value. Well, I don't know about that. Most of that wealth is invested in productive assets. Yes, that wealth is benefiting from asset inflation from the left. But that money IS being invested I assure you. It's invested in stock, real estate, private equity and even government bonds. ALL of that is adding value to the economy. It is NOT simply sitting there.

Third, as I've stated many times in which neither you, nor Ricter nor any of the commies on the left, that the cure for poverty is not MONEY!!!!! It's education. The poor have to become productive. If they are not, simply handing them money will not make them so and therefore will have ZERO long term effects. Hence why some posters brought up the lottery paradox. The reason lottery winners go broke is because they are receiving money that they did not earn. In other words, had they acquired the money through productive means, then they would have had the ability to put it to work in a productive fashion and either grow or at least preserve their wealth. Unfortunately they were just handed the money and due to their negative productivity, the money was squandered and most ended up either broke or dead (suicide).

All it takes is a basic understanding of economics to get this. For some reason, there is not a single commie on this board that has a background in economics so they make these outlandish suggestions that are completely devoid of logic and facts.
 
the-gap-between-the-top-1-and-everyone-else-hasnt-been-this-bad-since-the-roaring-twenties.jpg
 
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