Top 1 percent took record share of US income in 2012

[Moonglow]

Who woulda thunk it? America supports a growing population of illegal aliens approaching 15 million and left wing analysts determine that the gulf between the rich and the poor is growing wider. Sure it is and will continue to grow as long as democrats support illegal immigration and keep Black Americans in double digit unemployment dependent on the federal plantation.

I can bet you that it's also GOP members that hire illegals.

 

[ClosedCaption]

I guess the right only hates welfare when it helps people. Corporate welfare is great!

Well.. except for the fact that it is not what 'the right' thinks...

Most all of the conservatives you will find are against ALL welfare/subsidy/entitlement
But nice try, moron

 

[Vox]

. Do you like a slow economy and growing government?

no, I do not, but that is what YOU, leftards, imposed on us with your Keynesian fanatics.

Actually I'm an independent who likes small government. Too much inequality is counter to that.

No, you are not an independent. Independents know that income inequality is NORMAL and even GOOD.

Unless you want to be a part of a labor camp

 

[Dont Taz Me Bro]

The gulf between the richest 1% of the USA and the rest of the country got to its widest level in history last year.

The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years, according to a an analysis by economists at the University of California, Berkeley and the Paris School of Economics at Oxford University.

The richest Americans haven't claimed this large of a slice of total wealth since 1927, when the group claimed 18.7%. The analysis is based on data from Internal Revenue Service data.

Income

Scott Walker won

 

[Brain357]

no, I do not, but that is what YOU, leftards, imposed on us with your Keynesian fanatics.

Actually I'm an independent who likes small government. Too much inequality is counter to that.

No, you are not an independent. Independents know that income inequality is NORMAL and even GOOD.

Unless you want to be a part of a labor camp

Some yes, just not the gross amounts we have now. In the 70s CEOs made 30x the average worker, that's inequality. Now doing the same job they make 300x the average worker, gross inequality. Can you not grasp the difference?

I also see that inequality grows government. Do you like big government?

 

[NYcarbineer]

Morons still thinking that someone is poor because someone else is rich

fucking laughable

It's a mathematical fact. The nation, daily, monthly, annually, however you want to measure it,

generates a finite amount of wealth. If more of that wealth goes to the rich, that is that much less that can go to the not rich.

 

[jasonnfree]

Think about the title of the post. What does the word "took" really mean in this context? You could say that the legendary 1% actually produced income in spite of the president's anti-capitalist agenda. What might happen when the 1% fail to produce? I don't want to think about it.

Actually economies usually do very well in the aftermath of the top 1% fleeing the country, being killed, or having their power and toys taken away. America after the revolution and the Tory exodus, France after abolishing the monarchy, Britain after the political reforms of 1832, Hungary after expanding the franchise, and so forth. Too bad you read only fascist and monarchist views of history. Seriously, Obama anti-capitalist? He's been the best thing for Wall Street in American political history.

The right wingers that post here don't understand basic terms such as marxist, progressive and the like. They just repeat what they hear on right wing outlets like the obedient drones that they are. A marxist or progressive wouldn't have a free trader for commerce secretary. Look at who Obama surrounds himself with. Corporate CEO's, republicans, anti labor billionaires Pritzker etc. Hell, he appoints a world champion offshorer, Immelt, as a job czar!! Obama is right now pushing to fast track a trade deal that's called Nafta on steroids and he's not allowing any debate about it from the democrats in congress. If we had a liberal media, which we don't, they'd be discussing this and other Obama moves to the right.

 

[Skull Pilot]

And you whining sheep actually think that if the so called rich made less that you would magically make more?

 

[Stephanie]

And you whining sheep actually think that if the so called rich made less that you would magically make more?

They would just be happy for the government to confiscate more of what people earn and give it to them...they DESERVE it because they are too stupid to make themselves

 

[NYcarbineer]

It's an incredibly weak individual who uses the income of another as an excuse for their own failures, or the failures of anyone else who has their health.

Money is power. Money concentrated in the hands of a few puts the power in the hands of a few.

Money creates power, and those with the money, and thus the power, use the power to concentrate the money, and the power, even further, into the hands of even fewer.

Democratic government is the only force in the universe that has the capability to peacefully oppose that cycle of money and power.

Choose wisely when you choose which to be ruled by.

Then quit crying, do what you need to do to better yourself so you can go get your money. Being envious of what others have will not fill the bellies of the useless.

Nothing you said has anything to do with what I said.

I'm retired with 2 pensions, a home that's paid for, no debt, and full medical coverage.

Are you?

 

[Brain357]

Money is power. Money concentrated in the hands of a few puts the power in the hands of a few.

Money creates power, and those with the money, and thus the power, use the power to concentrate the money, and the power, even further, into the hands of even fewer.

Democratic government is the only force in the universe that has the capability to peacefully oppose that cycle of money and power.

Choose wisely when you choose which to be ruled by.

Then quit crying, do what you need to do to better yourself so you can go get your money. Being envious of what others have will not fill the bellies of the useless.

Nothing you said has anything to do with what I said.

I'm retired with 2 pensions, a home that's paid for, no debt, and full medical coverage.

Are you?

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

 

[kaz]

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

Dude, I saw what you did there and rushed over to see if you're OK. That was some freaky twisting, I sure hope you're double jointed...

 

[Stephanie]

Then quit crying, do what you need to do to better yourself so you can go get your money. Being envious of what others have will not fill the bellies of the useless.

Nothing you said has anything to do with what I said.

I'm retired with 2 pensions, a home that's paid for, no debt, and full medical coverage.

Are you?

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

 

[kaz]

Nothing you said has anything to do with what I said.

I'm retired with 2 pensions, a home that's paid for, no debt, and full medical coverage.

Are you?

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

As long as there are rich people, they will provide jobs and brain will have to work

 

[Stephanie]

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

As long as there are rich people, they will provide jobs and brain will have to work

with this attitude they can't make it in LIFE on their OWN so the Guberement will have to TAKE CARE of them will be the downfall of this country

 

[Brain357]

Nothing you said has anything to do with what I said.

I'm retired with 2 pensions, a home that's paid for, no debt, and full medical coverage.

Are you?

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

CEOs have gone from being paid 30x the average worker to 300x everyone should agree that is ridiculous.

The government does and always will take care of these people. Just a fact. Just more corporate welfare.

I pay a lot of taxes I assure you.

 

[kaz]

Your lucky, companies don't give pensions or health insurance into retirement anymore. They had to give those up so executives could make ridiculous salaries. Now the government has to take care of people who are retired. And conservatives support this growth of government.

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

CEOs have gone from being paid 30x the average worker to 300x everyone should agree that is ridiculous.

The government does and always will take care of these people. Just a fact. Just more corporate welfare.

I pay a lot of taxes I assure you.

Obamacare is corporate welfare. I had to say that out loud to see if it would be even funnier. It was!

Ironic you're quoting Stephanie with her fantasy island avatar...

 

[Soggy in NOLA]

Morons still thinking that someone is poor because someone else is rich

fucking laughable

It's a mathematical fact. The nation, daily, monthly, annually, however you want to measure it,

generates a finite amount of wealth. If more of that wealth goes to the rich, that is that much less that can go to the not rich.

Really, so, at our founding there was this much wealth? It hasn't grown $1 since the 15th century?

 

[Brain357]

really, because of their "ridiculous" salaries...and who is the JUDGE of what is RIDUCLOUS salaries ..you?
And the government HAS TO TAKE care of people huh?
how much do us TAXPAYERS put out to take of you?

CEOs have gone from being paid 30x the average worker to 300x everyone should agree that is ridiculous.

The government does and always will take care of these people. Just a fact. Just more corporate welfare.

I pay a lot of taxes I assure you.

Obamacare is corporate welfare. I had to say that out loud to see if it would be even funnier. It was!

Ironic you're quoting Stephanie with her fantasy island avatar...

Corporations have stopped giving proper benefits and so now the government is stuck with the bill. Pretty simple even an idiot... Oh maybe not.

 

[Mustang]

Actually I gave the only fact in this discussion, it's you and your buds who are blowing opinion out of your posteriors.

The top 1% earn 20% of the income and pay 40% of the taxes. IRS data. The problem is what exactly? How much should they pay?

You are missing the entire point. No one disagrees with you that the top 1% pay most of the taxes. The problem is that all of the income gains in the last 30 years or so have gone almost exclusively to the top 1% and if this continues it can be detrimental to our society. If the top 1% is sharing 25-30 percent of income gains in this country and 300 million have to fight for the other 70% it can become an unstable situation. Just look throughout history and there are plenty of examples of empires and countries collapsing with income inequality being a major factor in that collapse. French Revolution, Russian Revolution, etc......An economic model that allows the richest members of society to accumulate a larger and larger share of the cake will eventually self-destruct. It is a lesson that is yet to be learned.

While I basically agree, a couple of points:
1. Cons have no understanding of economic history. They get their beliefs from bat shit crazy con web sites and fox. Not the fact based world. So, any hope that they would have of understanding that national economies that led the world died as a result of income inequality is gravely incorrect. They only know what they are told. Makes life so much easier. They would have to actually read, and perhaps study, to understand truth as the fact based world understands it. Simpler to simply get their "facts" from those that actually gain from getting the to follow, blindly.

2. It is not that the top 1% are getting 25 -30% of income gains. It is that the top 1% are getting around 93% of income gains. As studies are now proving. Consider an actual study (sorry, cons, look up the word study so you can follow along) published by an impartial (sorry again, cons, for the same reason. Again, look it up) source:
Top 1% Got 93% of Income Growth as Rich-Poor Gap Widened - Bloomberg

Thing is, of course, that cons simply think it is a good thing. Because they have been told it is. Just remember. They are ignorant. Not their fault, thought. Just simple bad luck.

I'm hard pressed to think of even one conservative who's posted here who has a rudimentary understanding of real world economics as opposed to some kind of pie-in-the-sky economic theory that has never worked in practice.

For example, this great newfound belief (bordering on fanaticism) for how "free markets" (markets free from regulation) would supposedly solve all our economic problems along with their contention that gov't regulation is holding back the US economy from springing forth like a rocket. It's pie in the sky wishful thinking, at BEST.

They just can't seem to grasp that it was a lack of regulation and oversight in the financial markets (along with a philosophy that oversight was a bad thing) that led to the lending abuses by the big banks. Additionally, the banks engaged in market manipulation and proprietary trading as well as gaming the system with their Collateralized Debt Obligations and Credit Default Swaps which were not only unregulated insurance instruments, the banks and the gov't didn't even keep track of the extent of the obligations which ended up bringing our economy to the brink of collapse.

Hell, even the men running the banks didn't have a true understanding of what they were doing because there was no historical information available regarding past risk that was necessary to assign risk and a price assigned to that risk. And if that was not enough, there was no money backing up the risk at all which is what insurance is supposed to provide. That's why there's such a thing as an insurance commission. Because without regulation regarding insurance coverage in a profit and loss environment, companies could just collect premiums until such a time as a major loss bankrupted them. And guess what? That's what CDOs and CDS essentially did to our economy. That's why our gov't had to ride to the rescue with taxpayer dollars.

Market manipulation - Wikipedia, the free encyclopedia

Synthetic CDO - Wikipedia, the free encyclopedia

Proprietary trading - Wikipedia, the free encyclopedia