Close To Half Of Americans Have More Credit Card Debt Than Savings

[Dad2three]

Weird, YOU posit we spend to much and I show the GOP/conservatives have used the STARVE THE BEAST mode for 30+ years and YOU say stick to subject??? lol. Dishonest wing nutters

It's not weird at all. All you've done is rant and rave about why you think Republicans suck. While I'm sure it's a delightful tickle to your hyper partisan ballsack, that is not the subject. Let's go back to the beginning....

Where does debt come from? From spending money.
How does debt increase? By spending too much and paying off too little.

So gutting revenues, like Ronnie/Dubya did didn't create ANY debt huh? Just spending? lol

Before his election as President, then-candidate Ronald Reagan foreshadowed the strategy during the 1980 US Presidential debates, saying "John Anderson tells us that first we've got to reduce spending before we can reduce taxes. Well, if you've got a kid that's extravagant, you can lecture him all you want to about his extravagance. Or you can cut his allowance and achieve the same end much quicker."

Starve the beast - Wikipedia the free encyclopedia



Honesty, try it

Bush CEA Chair Mankiw: Claim That Broad-Based Income Tax Cuts Increase Revenue Is Not "Credible," Capital Income Tax Cuts Also Don't Pay For Themselves

Bush-Appointed Federal Reserve Chair Bernanke: "I Don't Think That As A General Rule Tax Cuts Pay For Themselves."


Bush Treasury Secretary Paulson: "As A General Rule, I Don't Believe That Tax Cuts Pay For Themselves."

Bush OMB Director Nussle: "Some Say That [The Tax Cut] Was A Total Loss. Some Say They Totally Pay For Themselves. It's Neither Extreme."


Bush CEA Chairman Lazear: "As A General Rule, We Do Not Think Tax Cuts Pay For Themselves."


Bush Economic Adviser Viard: "Federal Revenue Is Lower Today Than It Would Have Been Without The Tax Cuts."


Bush Treasury Official Carroll: "We Do Not Think Tax Cuts Pay For Themselves."


Reagan Chief Economist Feldstein: "It's Not That You Get More Revenue By Lowering Tax Rates, It Is That You Don't Lose As Much."

Feldstein In 1986: "Hyperbole" That Reagan Tax Cut "Would Actually Increase Tax Revenue."

Conservative Economist Holtz-Eakin: "No Serious Research Evidence" Suggests Tax Cuts Pay For Themselves."

 

[Dad2three]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

 

[saveliberty]

Why would you use credit and pay relatively high interest, when you have savings and are earning almost no interest?

 

[Dad2three]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

The problem with the conservative movement in America is that it is based on bigotry, hatred, and, greed. Above all, greed. Money is their god. They worship money and the holders of it and despise those who don't have it.

As the rich get richer and store more of their loot off shore and out of the nation's economy

 

[saveliberty]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

Your chart doesn't include the 1950s. Since when does anyone not want to earn more income, even if they only keep a part of it, it is still more.

 

[saveliberty]

The problem with the conservative movement in America is that it is based on bigotry, hatred, and, greed. Above all, greed. Money is their god. They worship money and the holders of it and despise those who don't have it.

As the rich get richer and store more of their loot off shore and out of the nation's economy

The conservative movement is based on individuals creating their own opportunities and enjoying the fruits of liberty. It is the liberals who have labeled and created division. They also have created redistribution of wealth as a system, then rail against it when it fails to meet their ends.

 

[SwimExpert]

The problem with the conservative movement in America is that it is based on bigotry, hatred, and, greed.

Too bad you can't sell irony. You'd be rich. We'll see how much you like being a liberal then!

 

[SwimExpert]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

You know, recent studies have shown that the most effective treatment for butt-hurt is to pull your head out of your ass.

 

[Dekster]

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

Probably more likely has to do with how wealth was acquired then and now. From the 50's to the 70's, you still had a lot of people who built their wealth in the form of equity in the companies they had created and built. A lot of operating profit was being reinvested in growing the business. Those people died off and we ended up with a bunch of trust fund babies and venture capitalist who make their wealth off dividends or liquidating equity. An example might be Grandpa put his money back into building buildings to expand his mill, and grandson lives of the trust fund interest or Mitt Romney comes in and buys the mill, sells it off brick by brick while sending the work overseas.

 

[Dad2three]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

You know, recent studies have shown that the most effective treatment for butt-hurt is to pull your head out of your ass.

The right wing ideology, at its roots, is based on fear instead of reason


I swear to God that this virus of conservatives not believing the facts right there in front of them is contagious-- and you have caught it big time. Just because you say something it doesn't change FACTS and make it so--that is how three year olds expect life to be.

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory

The conclusion?

Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nation’s economic growth.

This paragraph from the report says it all—

“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes

Why Thomas Jefferson Favored Profit Sharing
By David Cay Johnston

The founders, despite decades of rancorous disagreements about almost every other aspect of their grand experiment, agreed that America would survive and thrive only if there was widespread ownership of land and businesses.

George Washington, nine months before his inauguration as the first president, predicted that America "will be the most favorable country of any kind in the world for persons of industry and frugality, possessed of moderate capital, to inhabit." And, he continued, "it will not be less advantageous to the happiness of the lowest class of people, because of the equal distribution of property."

The second president, John Adams, feared "monopolies of land" would destroy the nation and that a business aristocracy born of inequality would manipulate voters, creating "a system of subordination to all... The capricious will of one or a very few" dominating the rest. Unless constrained, Adams wrote, "the rich and the proud" would wield economic and political power that "will destroy all the equality and liberty, with the consent and acclamations of the people themselves."

James Madison, the Constitution's main author, described inequality as an evil, saying government should prevent "an immoderate, and especially unmerited, accumulation of riches." He favored "the silent operation of laws which, without violating the rights of property, reduce extreme wealth towards a state of mediocrity, and raise extreme indigents towards a state of comfort."


Alexander Hamilton, who championed manufacturing and banking as the first Treasury secretary, also argued for widespread ownership of assets, warning in 1782 that, "whenever a discretionary power is lodged in any set of men over the property of their neighbors, they will abuse it."

Late in life, Adams, pessimistic about whether the republic would endure, wrote that the goal of the democratic government was not to help the wealthy and powerful but to achieve "the greatest happiness for the greatest number."

 

[Dad2three]

The problem with the conservative movement in America is that it is based on bigotry, hatred, and, greed.

Too bad you can't sell irony. You'd be rich. We'll see how much you like being a liberal then!

When hard-working people earn a living wage with benefits, they pay taxes instead of receiving government assistance and actually have more disposable income to spend on growing the (local) economy,


So many people refuse to recognize that poorly-paid workers have no choice but to be dependent on government and/or charities. More jobs with better pay (so people could churn the economy) would solve a lot of our problems.



Companies supposedly compete for people in a capitalist system, at least they used to. All this complaining you hear from companies saying they can't find "qualified" people is just a smoke and mirrors way of saying that they can't get the same people they got 10 years ago to rehire in for what they were making 10 years ago. If there were no minimum wage, believe me, it would be a race to the bottom

 

[Dad2three]

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

Probably more likely has to do with how wealth was acquired then and now. From the 50's to the 70's, you still had a lot of people who built their wealth in the form of equity in the companies they had created and built. A lot of operating profit was being reinvested in growing the business. Those people died off and we ended up with a bunch of trust fund babies and venture capitalist who make their wealth off dividends or liquidating equity. An example might be Grandpa put his money back into building buildings to expand his mill, and grandson lives of the trust fund interest or Mitt Romney comes in and buys the mill, sells it off brick by brick while sending the work overseas.

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes


Maybe we should go back to the good old days when tax rates were high and the corporations save their tax money by reinvesting into their company instead of just pulling everything out.

 

[SwimExpert]

The right wing ideology, at its roots, is based on fear instead of reason

So that explains why liberals and gun politics.

 

[HenryBHough]

At any given moment I probably have a couple of grand on a credit card.

It gets paid in full every month.

Why?

Because it's easier to buy stuff online, easier to book airline tickets, international hotels, even railroad tickets that way. One card carries NO "foreign transaction" fee and the exchange rate they get is wholesale, so more favourable than I could get directly.

Still, the amount on the account at any moment counts as "debt".

So is that a bad thing?

 

[Dad2three]

The right wing ideology, at its roots, is based on fear instead of reason

So that explains why liberals and gun politics.

Conservatives motto: Damned the facts! Full speed ahead!

 

[ninja007]

[QUOTE="Luddly Neddite, post: 10439679, member: 32558"]Pretty irresponsible to blame the government for your own choices as a couple of posters above apparently do.

In my 20s, I had credit card debt. Woke to the fact that I was enslaving myself, paid them off and have never let it happen again. Pay cash for everything, except real estate and pay that off as quickly as you can. We're retired, our homes are paid for, we paid cash for our cars and the result is, we have the money to travel and a secure future. Its a choice.[/QUOTE]

LOL, Liberalism defined.

 

[Dekster]

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes


Maybe we should go back to the good old days when tax rates were high and the corporations save their tax money by reinvesting into their company instead of just pulling everything out.

As long as we go back to the days when people spent more of their time being more self-sufficient and less of their time working to be able to afford microwaved or carry out meals because they do not have the time to plant a garden or cook a meal because they are spending so much time working to avoid working.

Part of the problem is that people use their annual income as a psuedo-social scorecard and it is more about their ego than whether or not they are really suffering. Yes we need more investment in the US, but we need more government initiated direction as well.

 

[Dad2three]

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes


Maybe we should go back to the good old days when tax rates were high and the corporations save their tax money by reinvesting into their company instead of just pulling everything out.

As long as we go back to the days when people spent more of their time being more self-sufficient and less of their time working to be able to afford microwaved or carry out meals because they do not have the time to plant a garden or cook a meal because they are spending so much time working to avoid working.

Part of the problem is that people use their annual income as a psuedo-social scorecard and it is more about their ego than whether or not they are really suffering. Yes we need more investment in the US, but we need more government initiated direction as well.

Republicans have hordes of people more than willing to vote against their own best interest in the deluded belief that if they support the 1%ers they will magically become one of them some day in the not so distant future!!


Contrary to "Entitlement Society" Rhetoric, Over Nine-Tenths of Entitlement Benefits Go to Elderly, Disabled, or Working Households


Moreover, the vast bulk of that 9 percent goes for medical care, unemployment insurance benefits (which individuals must have a significant work history to receive), Social Security survivor benefits for the children and spouses of deceased workers, and Social Security benefits for retirees between ages 62 and 64. Seven out of the 9 percentage points go for one of these four purposes
Contrary to Entitlement Society Rhetoric Over Nine-Tenths of Entitlement Benefits Go to Elderly Disabled or Working Households mdash Center on Budget and Policy Priorities


I never meant to say that the conservatives are generally stupid. I meant to say that stupid people are generally Conservative. I believe that is so obviously and universally admitted a principle that I hardly think any gentleman will deny it.

John Stuart Mill, in a letter to the Conservative MP, John Pakington

 

[Dad2three]

In 1980 the top 1% earned 8.5% of total income. In 2007 they earned 23%.

In 1980 the bottom 90% earned 68% of total income. In 2007 they earned 53%.

Summary of Latest Federal Income Tax Data Tax Foundation

GOV'T POLICY MATTERS !!!

Keynes wrote "The End of Laissez Faire" in 1926. He was correct then, and his insight remains more valid than any economics that conservative Libertarians propound ad infinitum and ad nauseum. Laissez Faire is nothing more than a childish Christmas wish of no substance; just hope and myth, and smoke and mirrors. Fails every time we try even the tiniest bit.



"The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government;..."
- Teddy Roosevelt 1910

Translation: I'm going to babble on about an entirely different matter, reciting the party line propaganda about something else entirely, and pretend that my previous bullshit wasn't demolished.

Right Bubba, YOU posit things have changed in your post, # 31

Close To Half Of Americans Have More Credit Card Debt Than Savings Page 4 US Message Board - Political Discussion Forum

I REFUTE YOUR BULLSHIT, YOU CHOOSE TO CUT OFF THE REST OF THE HISTORY AND SAY YOU DEMOLISHED SOMETHING? lol


ONE nation or state your libertarian bullshit was or is used,. EVER?

You right wingers 'believe in' myths and fairy tales, nothing more Bubba

What are you talking about? I posted about modern leadership practices in the business place a greater emphasis on non monetary motivation for workers. All you've done is babble on about how much you hate Republicans.

More nonsense from you and your justification for greed for the 'job creators'

Under current tax rates, there's no reason for the 1% to not continue to pay themselves hundreds of times what the average family earns, even if some of the loopholes go away.

The reason we had more equality of income back in the 1950's through the 1970's is that the 1% couldn't keep the money they gave themselves. When high earner's income went into the 70% margin rate (or the 91% rate under Ike), they were simply paying more taxes. No board of directors would okay increases in CEO wages because most of it would go to the IRS. Cap gains rates were also higher. Paying yourself a big salary or bonus was worthless if you couldn't keep it.


AGAIN, HONESTY, TRY IT

Your chart doesn't include the 1950s. Since when does anyone not want to earn more income, even if they only keep a part of it, it is still more.

Weird, history says they didn't do that! And you think the 1950's had them 'job creators' a smaller tax burden? lol

As measured by IRS data, the share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009. Tax policy could have a relation to how the economic pie is sliced—lower top tax rates may be associated with greater income disparities.

Congressional Research Service Report On Tax Cuts For Wealthy Suppressed By GOP UPDATE

 

[blackhawk]

I'm not in the group that has more debt than savings.