the very first line of the first post shows an amazing bias, and a complete misunderstanding of economics.
i quote
"top 1% of the families takes 1/3 of US's wealth... while the bottom 50% take only 2.5%....."
the word: TAKE
the top 1% hasn't taken the wealth because wealth is CREATED (read that again) in our economic system.
it is not a zero sum game (shades of another thread). for example, the US economy has significantly grown wealth over the last 100 yrs. compare the total wealth, wealth per capita, etc. and that is undeniably true. innovation, invention, economy of scale, technology, etc. all help to grow wealth. it takes less manhours, and less acreage, for instance, to grow a bushel of wheat now vs. 100 yrs ago.
again, this shows amazing bias.
the word "take" implies that for every dollar that the top 1% GAIN, it is necessarily taken from a limited pool of $$$
not true.
the economy can (and does) shrink or contract, as does wealth, but it is an undeniable fact that over the long run wealth does (and has been) created.
i could also mention that USA has among (usually in top 5% of industrialized nation) the greatest income quintile mobility of any economy. iow, the poor tend to (in general) not to stay poor over time, and to a large extent - membership in lower quintiles is relatively short lived.
i quote
"top 1% of the families takes 1/3 of US's wealth... while the bottom 50% take only 2.5%....."
the word: TAKE
the top 1% hasn't taken the wealth because wealth is CREATED (read that again) in our economic system.
it is not a zero sum game (shades of another thread). for example, the US economy has significantly grown wealth over the last 100 yrs. compare the total wealth, wealth per capita, etc. and that is undeniably true. innovation, invention, economy of scale, technology, etc. all help to grow wealth. it takes less manhours, and less acreage, for instance, to grow a bushel of wheat now vs. 100 yrs ago.
again, this shows amazing bias.
the word "take" implies that for every dollar that the top 1% GAIN, it is necessarily taken from a limited pool of $$$
not true.
the economy can (and does) shrink or contract, as does wealth, but it is an undeniable fact that over the long run wealth does (and has been) created.
i could also mention that USA has among (usually in top 5% of industrialized nation) the greatest income quintile mobility of any economy. iow, the poor tend to (in general) not to stay poor over time, and to a large extent - membership in lower quintiles is relatively short lived.
same old coservative BS for stealing! long live the banana republic and good luck to your kids no matter how hard they work. By the way , according to experts and the thieving minority, Europe doesn't compete because they are so socialist.