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The 1%ers now worth nearly as much as the entire middle class

Discussion in 'Latest Political News and Current Events' started by Bugsy McGurk, Nov 9, 2019 at 11:55 AM.

  1. Bugsy McGurk

    Bugsy McGurk President

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    The wealth gap has been soaring for decades - no real news there. GOP policies have shifted more and more wealth from the middle class to the ultra wealthy over the last few decades.

    Well, it’s truly reaching ridiculous levels - the 1%ers now hold wealth nearly equal to the wealth held by the entire American middle class. Yet somehow, GOP voters have been brainwashed into supporting that, and they have even been brainwashed into supporting GOP policies that will make the wealth gap larger still.

    Amazing...

    https://www.bloomberg.com/news/arti...paign=news&utm_medium=bd&utm_source=applenews
     
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  2. The Thinker

    The Thinker Over The Top Abuser

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    Good for them.
     
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  3. Bugsy McGurk

    Bugsy McGurk President

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    Wouldn’t you like to have more wealth? Why does it make you happy when our national policies shift an ever greater percentage of wealth away from you and to the ultra wealthy?
     
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  4. The Thinker

    The Thinker Over The Top Abuser

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    I acquire more wealth every year. I don't look to government to do that for me.
     
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  5. Bugsy McGurk

    Bugsy McGurk President

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    Sure, but you would have even more wealth but for our nation’s policies shifting wealth upward. For example, tax policy could be changed so that you pay less taxes and the 1%ers pay more. Why do you support policies that make the 1%ers more wealthy and you less wealthy?
     
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  6. The Thinker

    The Thinker Over The Top Abuser

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    The only federal tax policy that needs fixing is that too many lower wage earners don't pay enough or pay nothing at all.
     
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  7. PhilFish

    PhilFish Administrator Staff Member

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    doesn't current tax policy have that sliver of one-percenters paying some 40-plus percent of everything now? When is enough enough? Not saying that we shouldn't oh, just curious what is enough.

    I'm also curious why we spend so much time lambasting the well-to-do, who clearly put the effort in in a majority of cases to Garner earnings they have...but we put a little effort into lambasting those that are indolent and not driven who interned don't bother to educate themselves and consequently earn a pittance, and then bitch and moan about how everybody else earns more than they
     
  8. Colorforms

    Colorforms Senator

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    I still think it's quaint that fascists think that if they take more from the wealthy it somehow finds it's way to the middle class. It's kind of like believing in Santa Clause :)
     
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  9. worldlymrb

    worldlymrb America: Love it or Leave it!

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    Hows your 401K Bugs! I bet your rolling in it now considering how much you were bragging about Barry's stock market.
     
  10. georgephillip

    georgephillip Governor

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    Your link:

    "For now, those Americans in 90th to 99th percentiles -- well-to-do, but not the super rich -- still control the biggest share of wealth, with $42.6 trillion in assets.

    "The lone group left out of the fun: the bottom 50% of Americans.

    "Those households have 35.7% of liabilities in the U.S. and just 6.1% of assets."

    The neoliberal experiment has had bipartisan support for the last forty years.
    It's time for something New
    :
    [​IMG]
     
  11. voyager

    voyager bon vivant

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    At a certain point it not the wealth it's what you do with it that determines the kind of person you are... right, Donald.
     
  12. The Thinker

    The Thinker Over The Top Abuser

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    It's about time. Where have you been? I was about to send out a search party!
     
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  13. georgephillip

    georgephillip Governor

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    I lost a bet on this board last November 6 (2018)
    So I had to leave for a year.
    You know who I blame?
    [​IMG]
    I bet he would quit before midterms.:oops:
     
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  14. The Thinker

    The Thinker Over The Top Abuser

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    Well welcome back! Seemed like much longer than a year.
     
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  15. Spamature

    Spamature President

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    What do you expect when the govt and business carry out a 40 yr attack on the only political lobbies that represents working people .
     
  16. Raoul_Luke

    Raoul_Luke I feel a bit lightheaded. Maybe you should drive.

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    Yes, that is awful. However, have you ever stopped to ponder why it is that as the US government has gotten ever larger, as the welfare state has grown exponentially, as the rich pay an ever larger portion of the taxes, the rich have continued to grow much much richer? I suppose your policy prescription to address this sad situation is, let me guess - bigger government, more welfare and higher taxes on the rich...am I right? LOL! Yeah, that should fix it...
     
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  17. Spamature

    Spamature President

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    The govt has cut taxes on the 1%. Then it turned around and borrowed 1/3rd of our current $23 trillion debt from the 1%, and another 1/3rd of the debt from the worker's govt pension plans, and another 1/3rd from foreign govts, all to cover the shortfall.

    So now the govt pays almost $500 billion a year in interest on on that borrowing. Only thing is it's the 1% and the foreign govts who sees a return from their investment. While the workers get told every year at some point the govt will have to default on their portion this investment and cut payments from the pension system.

    The right calls the govt pension plan a ponzi scheme. But thanks to penchant for tax cuts it turned into an embezzlement scheme with workers as the victims. As long as you righties keep singing your tunes from their hymn books they'll get away with the caper.
     
  18. reason10

    reason10 Mayor

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    And CaliFAGula, the liberal mecca is the home of the greatest income divide in the world.

    Not ONE GOP vote caused that state to be so fcked up.

    And the richest assssholes in Congress are all Democrats.
     
  19. JuliefromOhio

    JuliefromOhio Senator Supporting Member

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    For decades now, the Republican base has wholeheartedly fallen for the discredited "trickle-down economics" otherwise dubbed "voodoo economics" by GHW Bush.

    It's a simple tale told by the Republican party that its base continues to believe: the wealthy must be revered because they create the jobs. No matter that that's false. Stupid, stupid repub/cons.

    Trump's tax cut? The tax cut for the wealthy is permanent. The tax cut for the middle class expires in another year. Stupid, stupid repub/cons.
     
  20. TBLee

    TBLee Council Member

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    Of course most would love to have more wealth. You do realize that is possible, without help form the ultra wealthy.
     

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