The Richest 0.1 Percent Is About to Control More Wealth Than the Bottom 90 Percent

[ScienceRocks]

Look at Mexico with its small super rich and vast poor. Is this what you want for America?

 

[GHook93]

The Richest 0.1 Percent Is About to Control More Wealth Than the Bottom 90 Percent

While a complex web of factors have contributed to the rise in income inequality in America, a new research
paper says most of the blame can be largely placed in the immense growth experienced by the top tenth of the richest 1 percent of Americans in recent years. From the report:

The rise of wealth inequality is almost entirely due to the rise of the top 0.1% wealth share, from 7% in 1979 to 22% in 2012, a level almost as high as in 1929. The bottom 90% wealth share first increased up to the mid-1980s and then steadily declined. The increase in wealth concentration is due to the surge of top incomes combined with an increase in saving rate inequality.
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How do Tea Partiers not get upset about this?

They bitch about taxes. But they support lower taxes for the wealthy.

I support higher taxes for the top 1%. I believe that one should pay dollar for dollar for what they make within our system.

Everyone loves the infrastructure they haul their products on and the science labs that innovate new stuff to be packaged. I think it is fair.

People like Romney shouldn't be making 20,000,000 a year and paying 10-12% taxes. They should be paying at least 3 times that.

First off, at the higher INCOME TAX levels in some states like CA they do pay half their cash. Romney doesn't pay INCOME TAXES, because he doesn't earn and income anymore. When he made his fortune as a businessman and had an income he paid the highest tax bracket. He, like Buffet, now make their money off investment money. Therefore they pay 15% of the interest they earned. They RISK their cash for a reward of earned interest. Their investment allow entrepreneurs to get start up money, corporations to grow, spend and higher people etc.

 

[Mr. H.]

I'm in control of my own life. I could give a flying fuck about the .1 percent.

Riches do not equal wealth.

Wealth warms the heart, riches warm the ego.

Fuck off.