sakinago
Gold Member
- Sep 13, 2012
- 5,320
- 1,632
One stat? LOL. We've gone to Hell under Reaganism the last 35 years, and thanks to the total BS GOP propaganda machine and cowardly corporate media, the majority don't know shytte. So you're saying no taxes of ANY KIND if income is under 50k, or just fed income tax? Because right now, if you count ALL TAXES AND FEES, we have a flat tax for EVERYONE, with all new wealth staying with the richest on average. Thanks New BS GOP.See if you can spot it lol:We've been a hybrid socialized country for a while, progressing more and more to socialism, yet are wage gap keeps growing and growing, what's up with that.
The Demise of the American Middle Class In Numbers.
Over the past 35 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 63 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
A 13% drop since 1980
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
A 12.3% drop after Reagan.
4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.
Household Debt as percentage of GDP:
1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%
A 45% increase after 1980.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Links:
1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – http://www.whitehouse.gov/omb/blog/09/04/27/CongratulationstoEmmanuelSaez/
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis (BEA)
4 = Federated Prudent Bear Fund (A): Overview
4 = FRB: Z.1 Release - Financial Accounts of the United States - Current Release
5/6 = 15 Mind-Blowing Facts About Wealth And Inequality In America
Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts
Ha this is a total non sequitur. Looking at one statistic and ignoring every other variable out there.
Has the US become more progressive or less progressive since 1945? Add that into you're equation.
Yea no matter what the tax plan is under the fed income tax, it always comes out to be around 18 percent of what working Americans are making. That IS the problem of the our current tax code. Thanks for proving my point that poor/middle class people are paying 18 an percent tax rate. That's a problem.
And are you honestly trying to argue the Carter era was better than the Reagan era? Our original problem is getting off of gold standard during progressive republican Nixon era. We often joke about how low the prices were back before Nixon, but this is a false equivalency, since their 50 dollars was quantitatively worth a lot more than what we call 200 dollars today. That moment is where the us went astray. Everything subsequent to this moment should be judged only by everything after this moment.
If you want to dig deep to the 40s, we're talking about a completely different economic America. Remember, it was only the Great Depression in America, and FDR extended the Great Depression for 10 years past everywhere else in the world. And if you want to look at good tax policy during this era, contrast Wilsons presidency, with Calvin Coolidges presidency....Ushered in the greatest economic growth ever in American history.
Tax Policy, Coolidge Style
rambling all over?? what is your point? Are you capitalist or socialist? That's is only issue.
The whole video is applicable, stat at 18 seconds in if you want to hear what I'm trying to convey to you