CNBC: The rich are getting richer and the poor are getting poorer

[danielpalos]

Even in the best of economic times there has always been a group of the poor unemployed.

some on the left are working to fix that.

there should be no, simple poverty in our Republic. We have a First World economy.

 

[WTP]

Even in the best of economic times there has always been a group of the poor unemployed.

That's true. Back in the day, we were not all treated the same because of who we were. Hopefully, we will one day fully understand and appreciate the blight that places on a nation?

 

[danielpalos]

Unemployment compensation for Capitalism's natural rate of unemployment, what a poverty solving concept!

It really is an Institutional problem that requires an Institutional solution.

 

[Wyatt earp]

The rich are getting richer because they keep doing the things that made them rich.

The poor are getting poorer because they keep doing the things that made them poor.

Opinions are worth dog pooh. Start by rebutting facts. Then your posts mean something; The Rise of the Working Poor and the Non-Working Rich

It’s also commonly believed, especially among Republicans, that the rich deserve their wealth because they work harder than others.

In reality, a large and growing portion of the super-rich have never broken a sweat. Their wealth has been handed to them.

You have not figured it out have you?


Their are two workers in this world the ones that work hard and not paid to think and the ones who are paid to think and not work hard.



.then their are your types who sit around/collect welfare and cry about rich people.



.

 

[Wyatt earp]

[\QUOTE]
why do the already rich, need tax breaks?

Infrastructure is more important.

What do Republicans want? To transform the U.S. into a country where the government is small, weak, and useless, as in some parts of the world?[/QUOTE]


When Is the US government ever useful?


Get a driver's license or deal with the IRS kid and tell us how useful they are



.

 

[Wyatt earp]

Income disparity increased under Obama, along with poverty. If you don't like increased income disparity you should never have voted for that asshole.

Income disparity started with the Reagan tax cuts, while the Bush tax cuts ended in 2013. Had nothing to do with Obama. This is the result of forty years of tax cuts going to the wealthy; Introducing Ed's 'vulture chart'. This chart was prepared by the Centers for Tax Policy. Do you have a chart that rebuts this reality?

No it started when the world caught up to us finnaly after world war Ii...when imports outpaced exports in the mid 80s...


.

 

[RoshawnMarkwees]

The top 1% of families took home an average of 26.3 times as much income as the bottom 99% in 2018, according to NEW NEWS by MSNBC. And some states are more unequal than others, with the Northeast and West Coast outpacing the rest of the country.

Sounds like socialism. Dems should ecstatic.

 

[Deno]

And I say those that don’t are fools like yourself…….

Your so called experts like paul krugmam said the

world would end if Trump were elected.

Boy does that make Krugman and you look stupid now…

On the flip side of what you ended with,

You hanging out with any queers, lately?

Still resorting to the fewest fallacies, unlike practitioners of the abomination of hypocrisy.

You just spit out a mouth full of bull shit.....

You should probably go eat a dead buzzard

to get the taste out of your mouth.

why do the already rich, need tax breaks?

Infrastructure is more important.

The Rich spend their money and they employ people…

I know you dumb asses don’t get it, but it trickles down.

Did you complain about obongo’s Stimulus Package?

If not shut the flock up….

Damn you're ignorant. Obama's stimulus package was not a result of trickle down economics. It was money borrowed and injected back into the economy that averted a second Great Depression. That's what the stimulus package was. No Evidence of 'Trickle Down' Job Creation - NYTimes.com


In reality, a large and growing portion of the super-rich have never broken a sweat. Their wealth has been handed to them.

You can't read dumb ass....

That is not what I said.....

 

[danielpalos]

[\QUOTE]
why do the already rich, need tax breaks?

Infrastructure is more important.

What do Republicans want? To transform the U.S. into a country where the government is small, weak, and useless, as in some parts of the world?

When Is the US government ever useful?


Get a driver's license or deal with the IRS kid and tell us how useful they are

let's end our Useless wars on crime, drugs, and terror; Because, Government is not useful!

 

[top3]

[\QUOTE]
why do the already rich, need tax breaks?

Infrastructure is more important.

What do Republicans want? To transform the U.S. into a country where the government is small, weak, and useless, as in some parts of the world?

When Is the US government ever useful?


Get a driver's license or deal with the IRS kid and tell us how useful they are

let's end our Useless wars on crime, drugs, and terror; Because, Government is not useful!

The United States may be dangerous, but it's not the anarchy that you see in some parts of the world.

 

[danielpalos]

[\QUOTE]
why do the already rich, need tax breaks?

Infrastructure is more important.

What do Republicans want? To transform the U.S. into a country where the government is small, weak, and useless, as in some parts of the world?

When Is the US government ever useful?


Get a driver's license or deal with the IRS kid and tell us how useful they are

let's end our Useless wars on crime, drugs, and terror; Because, Government is not useful!

The United States may be dangerous, but it's not the anarchy that you see in some parts of the world.

is capitalism Useless when compared to socialism on a national and international basis?

 

[Manonthestreet]

Self-control.



A recent study followed 1,000 children into adulthood. Researchers rated levels of self-control in the children and mapped those levels out on a gradient scale, with a higher number on the scale corresponding to a higher level of self-control. They found that the higher the child was on the gradient, the more likely they were to succeed in later life. In brief, the children who displayed more self-control were less likely to smoke and more likely to make good financial decisions, display better work ethic, engage in safer sex, and live longer as adults. Self Control: The Overlooked Key to Wealth and Health

 

[danielpalos]

Self-control.



A recent study followed 1,000 children into adulthood. Researchers rated levels of self-control in the children and mapped those levels out on a gradient scale, with a higher number on the scale corresponding to a higher level of self-control. They found that the higher the child was on the gradient, the more likely they were to succeed in later life. In brief, the children who displayed more self-control were less likely to smoke and more likely to make good financial decisions, display better work ethic, engage in safer sex, and live longer as adults. Self Control: The Overlooked Key to Wealth and Health

We only need Ten simple Commandments from a God, not the Expense of Government.

 

[PredFan]

The rich are getting richer because they keep doing the things that made them rich.

The poor are getting poorer because they keep doing the things that made them poor.

Opinions are worth dog pooh. Start by rebutting facts. Then your posts mean something; The Rise of the Working Poor and the Non-Working Rich

It’s also commonly believed, especially among Republicans, that the rich deserve their wealth because they work harder than others.

In reality, a large and growing portion of the super-rich have never broken a sweat. Their wealth has been handed to them.

You are right. Opinions are worth do poo.

 

[Andylusion]

Income disparity increased under Obama, along with poverty. If you don't like increased income disparity you should never have voted for that asshole.

The Bush tax cuts didn't end until 2013. That isn't on Obama. Damn you people are ignorant.

What? I must have missed something in this conversation, because what you said does not follow any logical sense.

What does Bush's tax cuts.... have to do with income disparity?

Are you under some illusion that tax policy will somehow make the income of a wealthy person different?

If I make $200K, and the tax rate is 30%.... how much money did I make? $200K.
If I make $200K, and the tax rate is 40%.... how much money did I make? $200K.

Same is true of someone else making $25K. Tax rate is high or low, makes no difference. You still made $25K.

So it really makes no difference what the tax rate is. The disparity between me and you, will be the same.

And the tax rates really make no difference at all, to people who make significantly more.

For example.... do you think that tax rates have anything at all to do with say.... Mark Zuckerberg, keeping his income more equal with the common worker?

Do you think that having a high tax rate is going to reduce the income disparity between the lower-class and Zuckerberg?

Do you think a low tax rate is going to increase the income disparity between the lower-class and Zuckerberg?

And the answer is..... no. Neither. The tax rate could be Zero, or it could be 100%, and it would have no effect on Zuckerberg at all. Why? Because Zuckerbergs wealth is tied to his ownership of Facebook.

When the value of Facebook goes up $100 Million dollars... Zuckerbergs value goes up $100 Million dollars. Your tax policy does absolutely nothing. Do you know what Zuckerbergs yearly salary is, that is taxed at income tax rates? $1. That's not $1 million. That is one dollar and zero cents.

By the way, do you know what Warren Buffets yearly salary is? $100,000. Those top marginal rates have zero effect on him either.

Tax rates have nothing to do with income disparity. Absolutely nothing. No connection between the two at all.

The only way to reduce disparity is to have a wealth tax. That will not happen. They tried to put a wealth tax to a vote in California, and hundreds of the wealthy left the state just because they thought it would happen.

In France they actually passed a wealth tax, and thousand of the wealthy left France. They had business owners closing their business completely, driving across the boarder into Luxembourg and Belgium, and reopening the business often with the exact same people.

The exodus got so bad, that they had to repeal it or risk crashing the economy.

This is why every country that has tried to reduce disparity has ended up ruined. Venezuela has lost 1.5 Million people by now, fleeing their equality based economic policies.

A historic exodus is leaving Venezuela without teachers, doctors and electricians

Honestly we don't even have the numbers that leave, because literally everyone is leaving the equality paradise, and many are coming to the US. Apparently our oppressive disparity is so bad, that everyone wants to come here.

Income disparity is the dumbest of the dumb left-wing issues.

Tax Cuts, Sold as Fuel for Growth, Widen Gap Between Rich and Poor

In 1928, the top 1% of families received 23.9% of all pretax income, while the bottom 90% received 50.7%. But the Depression and World War II dramatically reshaped the nation’s income distribution: By 1944 the top 1%’s share was down to 11.3%, while the bottom 90% were receiving 67.5%, levels that would remain more or less constant for the next three decades. U.S. income inequality, on rise for decades, is now highest since 1928 Historical proof of the relationship between the tax rate and income disparity between rich and working class. For three decades, the working class were making the best live able wage to inflation. It took WWII for us to figure out the best economic model. Nothing like a history lesson to put things in their proper context, instead of some crook writing down on a napkin back in the seventies, a new tax policy of tax cuts going to the rich that have served no one but the rich.

First, there is nothing wrong with that. There is nothing inherently wrong with the richest 1% getting more of the pretax income.

You act like somehow there is something wrong with this. If I earn more money than you, because I do something the creates more value, there is nothing unjust or wrong with me getting more and more money, while you don't.

Second, one should expect that the top 1% would get more and more money. It's natural. It's logical. It's mathematical.

I'd be more surprised if they didn't.

Think about it logically. Say I open a store, and I earn just $10,000 in profit from that store.

Now I use my profits to open another store, and another store, and another.

Soon I have 50 stores. I'm still only making $10,000, but my income is now $500,000 a year.

The wage of all the employees is the same, and should be the same, because they are all doing the same job. But my wage is going to go up..... not because I'm paying my people less. I'm not cheating anyone out of their rightfully earned wages. My wage is going up because I'm producing more goods for more people, by opening more stores.

So naturally, the top 1% are going to earn more and more, because they are investing more and more.

This is life. This is how the world works. The more you invest into money growing investments, the more you are going to get back.

The more you stay flipping burgers and spending all your money, the more you are going to stay where you are.

So naturally the top 1% are going to take more and more of the wages earned because they are ....EARN MORE WAGES.

Learn some economics. These are not hard concepts.

My parents are millionaires. Do you know how they became millionaires? By getting inheritance? No. Both my grand parents died with little assets. That money went to pay for college for my sister and relatives, and was spent.

How did they become millionaires? Was because of their massive income? No, they were both school teachers.

So how do two school teachers end up millionaires? They saved and invested. They bought wise investments, and put money into retirement. Now they are millionaires, with a lake house on Lake Erie with a private stretch of beach.

Wealthy people save and invest. Those investment result in them making even more money, as their income goes up and up.

Poor people, blow their money and stay poor.

 

[Andylusion]

If the "rich" were smart, they would learn the lessons of history regarding excessive wealth/privilege gaps.

Most of them are left-winger socialists. The chances of them learning anything are unlikely.... similar to people here.

 

[danielpalos]

Income disparity increased under Obama, along with poverty. If you don't like increased income disparity you should never have voted for that asshole.

The Bush tax cuts didn't end until 2013. That isn't on Obama. Damn you people are ignorant.

What? I must have missed something in this conversation, because what you said does not follow any logical sense.

What does Bush's tax cuts.... have to do with income disparity?

Are you under some illusion that tax policy will somehow make the income of a wealthy person different?

If I make $200K, and the tax rate is 30%.... how much money did I make? $200K.
If I make $200K, and the tax rate is 40%.... how much money did I make? $200K.

Same is true of someone else making $25K. Tax rate is high or low, makes no difference. You still made $25K.

So it really makes no difference what the tax rate is. The disparity between me and you, will be the same.

And the tax rates really make no difference at all, to people who make significantly more.

For example.... do you think that tax rates have anything at all to do with say.... Mark Zuckerberg, keeping his income more equal with the common worker?

Do you think that having a high tax rate is going to reduce the income disparity between the lower-class and Zuckerberg?

Do you think a low tax rate is going to increase the income disparity between the lower-class and Zuckerberg?

And the answer is..... no. Neither. The tax rate could be Zero, or it could be 100%, and it would have no effect on Zuckerberg at all. Why? Because Zuckerbergs wealth is tied to his ownership of Facebook.

When the value of Facebook goes up $100 Million dollars... Zuckerbergs value goes up $100 Million dollars. Your tax policy does absolutely nothing. Do you know what Zuckerbergs yearly salary is, that is taxed at income tax rates? $1. That's not $1 million. That is one dollar and zero cents.

By the way, do you know what Warren Buffets yearly salary is? $100,000. Those top marginal rates have zero effect on him either.

Tax rates have nothing to do with income disparity. Absolutely nothing. No connection between the two at all.

The only way to reduce disparity is to have a wealth tax. That will not happen. They tried to put a wealth tax to a vote in California, and hundreds of the wealthy left the state just because they thought it would happen.

In France they actually passed a wealth tax, and thousand of the wealthy left France. They had business owners closing their business completely, driving across the boarder into Luxembourg and Belgium, and reopening the business often with the exact same people.

The exodus got so bad, that they had to repeal it or risk crashing the economy.

This is why every country that has tried to reduce disparity has ended up ruined. Venezuela has lost 1.5 Million people by now, fleeing their equality based economic policies.

A historic exodus is leaving Venezuela without teachers, doctors and electricians

Honestly we don't even have the numbers that leave, because literally everyone is leaving the equality paradise, and many are coming to the US. Apparently our oppressive disparity is so bad, that everyone wants to come here.

Income disparity is the dumbest of the dumb left-wing issues.

Tax Cuts, Sold as Fuel for Growth, Widen Gap Between Rich and Poor

In 1928, the top 1% of families received 23.9% of all pretax income, while the bottom 90% received 50.7%. But the Depression and World War II dramatically reshaped the nation’s income distribution: By 1944 the top 1%’s share was down to 11.3%, while the bottom 90% were receiving 67.5%, levels that would remain more or less constant for the next three decades. U.S. income inequality, on rise for decades, is now highest since 1928 Historical proof of the relationship between the tax rate and income disparity between rich and working class. For three decades, the working class were making the best live able wage to inflation. It took WWII for us to figure out the best economic model. Nothing like a history lesson to put things in their proper context, instead of some crook writing down on a napkin back in the seventies, a new tax policy of tax cuts going to the rich that have served no one but the rich.

First, there is nothing wrong with that. There is nothing inherently wrong with the richest 1% getting more of the pretax income.

Yes, there is when we are going into Debt, to do it. Income Redistribution is All it is. The right wing only complains when the Poor may benefit.

 

[AvgGuyIA]

Yesterday the CEOs of Facebook Amazon YouTube and Twitter probably made $1 billion more than last week. Their additional wealth did not affect my circumstances one iota. And it didn't affect any of yours. Stop with the jealousy, create your own Facebook, get wealthy if that's your problem .

 

[danielpalos]

Yesterday the CEOs of Facebook Amazon YouTube and Twitter probably made $1 billion more than last week. Their additional wealth did not affect my circumstances one iota. And it didn't affect any of yours. Stop with the jealousy, create your own Facebook, get wealthy if that's your problem .

Nobody takes the right wing seriously about economics.

U.S. National Debt Clock : Real Time

 

[AvgGuyIA]

Yesterday the CEOs of Facebook Amazon YouTube and Twitter probably made $1 billion more than last week. Their additional wealth did not affect my circumstances one iota. And it didn't affect any of yours. Stop with the jealousy, create your own Facebook, get wealthy if that's your problem .

Nobody takes the right wing seriously about economics.

U.S. National Debt Clock : Real Time

So tell us danielpalos , how did Mark Zuckerberg's wealth gain affect you adversely? This should be interesting to find out how the rich and powerful fucked you over by being wealthy.