Top 8% Own 85%

[Skull Pilot]

From 2009:

The usual economic data doesn't break down spending by income category. But wealthy consumers buy a disproportionate share of stuff, so it makes sense that any rise in spending could be attributed largely or entirely to them. The top 10 percent of earners account for 22 percent of all spending, for instance, according to Moody's Economy.com. The top 25 percent of all earners account for 45 percent of spending. The bottom 50 percent of earners, by contrast, spend just 29 percent of all the money in the consumer economy.

Why Rich Consumers Matter More

Seems to me that we owe a lot to those evil rich people for spending so much money and getting us out of the recession.

Imagine you own a restaurant in a town with one really rich guy and many poor. While that one guy is really rich he still only eats 3 times a day and everyone else can't afford to eat out. So your restaurant fails. Too much inequality slows an economy.

Wow so you can imagine shit that doesn't exist
Maybe you should write fiction

Oh I forgot you already do that here

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

 

[Wilbur Right]

That's a welfare check and it should be abolished

But that wasnt the topic was s it skull?

You were making the claim that under your system low wage earners would be better of by 500 dollars if earning 25k.

I showed how, under your system, that same earner just lost 4k in earned income credit.

Is 29k greater than 25k?

 

[Brain357]

Imagine you own a restaurant in a town with one really rich guy and many poor. While that one guy is really rich he still only eats 3 times a day and everyone else can't afford to eat out. So your restaurant fails. Too much inequality slows an economy.

Wow so you can imagine shit that doesn't exist
Maybe you should write fiction

Oh I forgot you already do that here

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

 

[Toro]

Top 8% Own 85%

We're awesome.

 

[Skull Pilot]

Wow so you can imagine shit that doesn't exist
Maybe you should write fiction

Oh I forgot you already do that here

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

 

[Brain357]

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

you really are too dumb to get it.

 

[Wilbur Right]

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

That's your gauge of how severe a recession is. Whether or not people are wasting their money at strip clubs and bars.
That's really kinda odd. Do you spend a lot of time in strip clubs a and bars?

Don't cha want to talk about how well a 25k earner does under your proposed system vs the existing system?

 

[Brain357]

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


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ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

 

[Toddsterpatriot]

Spend on what? Anyone who is paying 10% won't see any change and anyone paying more than a 10% net tax will have more money

Yes a tax on the poor and a break for the rich. Gee, the rich are already doing really well and the economy is slow.

So anyone paying more than a net 10% will have more money and what do you think all those people will do with that extra money?

Did you notice the Bush tax cuts failed to give us a strong economy? I guess you don't learn.

Graph: Real Gross Domestic Product

Graph: Real Gross Domestic Product

Did you notice the Bush tax cuts failed to give us a strong economy?

Looks like the Bush cuts in 2001 and 2003 did more than Obama's hike in 2012.

http://economix.blogs.nytimes.com/2013/05/21/the-bush-tax-cut-failure/

Mr. Hubbard had also spearheaded enactment of big tax cuts in 2001 and 2002 that he said would jump-start the American economy. In an op-ed article in The Washington Post on Nov. 16, 2001, he predicted that the soon-to-be-enacted 2002 tax cut, which President Bush signed on March 9, 2002, would “quickly deliver a boost to move the economy back toward its long-run growth path.”

Mr. Hubbard predicted that it would create 300,000 additional jobs in 2002 and add half a percentage point to the real gross domestic product growth rate.

There is no evidence that the tax cut had any such effect. The unemployment rate remained above 5.7 percent all year, rising to 5.9 percent in November and 6 percent in December. The real G.D.P. growth rate fell each quarter of 2002, and by the fourth quarter growth was at a standstill. Hence the need for yet another big tax cut.

which President Bush signed on March 9, 2002, would “quickly deliver a boost to move the economy back toward its long-run growth path.”.....and add half a percentage point to the real gross domestic product growth rate.

When it was signed, real GDP was growing 2%. Within 2 years it was growing 4%.

 

[Skull Pilot]

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

you really are too dumb to get it.

You're not smart enough to see your example is crap

 

[Skull Pilot]

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


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Tweet

ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

Think Progress?

Really?

 

[Brain357]

I tried to explain why it is a problem so even an idiot could understand. Based on your response I obviously failed. I will try to think of a way to dumb it down farther for you.

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

How GM Amped Up the 2016 Cadillac ELR - HybridCars.com

 

[Skull Pilot]

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

That's your gauge of how severe a recession is. Whether or not people are wasting their money at strip clubs and bars.
That's really kinda odd. Do you spend a lot of time in strip clubs a and bars?

Don't cha want to talk about how well a 25k earner does under your proposed system vs the existing system?

I used to eat out a lot during the recession because we were starting our business and I was working 100 hours a week and people weren't as bad off as you like to think because there were people eating out and drinking every night

And I told you an guy earning 25K with a 10% flat income tax would take home more money every week than he does now
he just wouldn't get a check in April

People who live paycheck to paycheck live on their take home pay not their one refund check a year

ANd FYI I don't really care if people who have been getting a free ride all these years have to pay their fair share

 

[Skull Pilot]

You can imagine all sorts of shit that will never happen and it means nothing

There will never be a town where only one guy can afford to eat out

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

How GM Amped Up the 2016 Cadillac ELR - HybridCars.com

Yes ALL rich guy drive hybrid Caddies no one drives those luxury cars with big eight cylinders anymore

 

[Brain357]

You can't say that for sure. But there are certainly many where too few can afford it and restaurants go out of business. Having too much money with the few slows the economy for obvious reasons. The rich guy still only eats 3 times a day.

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


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Tweet

ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

Think Progress?

Really?

Falling Apparel Sales Show Income Inequality Hurting Retailers - Market Mad House

Income inequality and its uglier twin, income insecurity, are having a very corrosive effect on the U.S. economy. The retail sales figures from June show that large numbers of Americans no longer have extra money for items like clothing.

Americans are increasingly spending less money on clothes and home furnishings, Business Insider reported. Apparel (clothing and shoe) sales fell by 1.5% in June 2015 alone. This trend is having a terrible effect on some retailers, particularly old-school department stores.

Total retail sales fell by .1%, while home and furniture purchases fell by 1.6%, USA Today reported. It looks as if rumors of an economic recovery are greatly exaggerated. Retailers are hurting, and more hurt can be expected.

 

[Skull Pilot]

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


Share
Tweet

ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

Think Progress?

Really?

Falling Apparel Sales Show Income Inequality Hurting Retailers - Market Mad House

Income inequality and its uglier twin, income insecurity, are having a very corrosive effect on the U.S. economy. The retail sales figures from June show that large numbers of Americans no longer have extra money for items like clothing.

Americans are increasingly spending less money on clothes and home furnishings, Business Insider reported. Apparel (clothing and shoe) sales fell by 1.5% in June 2015 alone. This trend is having a terrible effect on some retailers, particularly old-school department stores.

Total retail sales fell by .1%, while home and furniture purchases fell by 1.6%, USA Today reported. It looks as if rumors of an economic recovery are greatly exaggerated. Retailers are hurting, and more hurt can be expected.

Yes there are no other reasons that the economy is sluggish

I hate to tell you this but no one thing is responsible for the anemic recovery it's a lot more complicated than that

 

[Toddsterpatriot]

Eating establishment go out of business all the time they have an historically high failure rate

Shit even in the worst part of the most recent recession people were still eating out and there were cars at the strip clubs and bars every night of the week

So your example like most of the drivel you post is pure bullshit

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


Share
Tweet

ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

Think Progress?

Really?

Falling Apparel Sales Show Income Inequality Hurting Retailers - Market Mad House

Income inequality and its uglier twin, income insecurity, are having a very corrosive effect on the U.S. economy. The retail sales figures from June show that large numbers of Americans no longer have extra money for items like clothing.

Americans are increasingly spending less money on clothes and home furnishings, Business Insider reported. Apparel (clothing and shoe) sales fell by 1.5% in June 2015 alone. This trend is having a terrible effect on some retailers, particularly old-school department stores.

Total retail sales fell by .1%, while home and furniture purchases fell by 1.6%, USA Today reported. It looks as if rumors of an economic recovery are greatly exaggerated. Retailers are hurting, and more hurt can be expected.

Income inequality and its uglier twin, income insecurity, are having a very corrosive effect on the U.S. economy.

I guess the people don't trust the Obama economy.

 

[Wilbur Right]

ANd FYI I don't really care if people who have been getting a free ride all these years have to pay their fair share

Hey dude. Low wage earners are as much paying their "fair share" as you or I.

What low wage earners do is utilize our tax system just like you and I do.

Do you give up your write offs for your business? Tax advantage of the mortgage interest deduction?

If you do use the tax code to your advantage, you are NO DIFFERENT than the low wage earner filing for the EITC.
You are not paying your Fair Share.

If you are not using the tax code to your advantage, that would make you stupid.

Low.wage earners are not stupid.

You think low wage earners have lobbyists for things like the EITC?. Republicans (Ford, Reagan) gave us the EITC. Nice eh?

Why you pick on low wage people all the time?

 

[Brain357]

It isn't just restaurants moron. If you own a gas station does it really matter how rich each customer is or do you need many customers? The rich guys car uses the same amount of gas as the poor guy.

Tell me then what other businesses exist in your fictional town?

And FYI the Rich guy's cars use more gas than your POS honda

Companies Warn That Income Inequality Is Hurting Their Business


Share
Tweet

ECONOMY
Companies Warn That Income Inequality Is Hurting Their Business
BY ALAN PYKE OCT 15, 2014 12:04 PM

After decades as the dominant economic theory in American politics, trickle-down economics is starting to lose its grip on the debate. For evidence of that slippage, look no further than the business community’s own communications with investors.

Two thirds of the largest retail companies in the country say falling incomes for their customers threaten their business, according to an analysis of corporate filings by economists at the Center for American Progress (CAP). That is double the proportion that cited slack earnings for the masses among their business risks in 2006. And seven out of every eight major American retail companies “cite weak consumer spending as a risk factor to their stock price,” the authors write.

Think Progress?

Really?

Falling Apparel Sales Show Income Inequality Hurting Retailers - Market Mad House

Income inequality and its uglier twin, income insecurity, are having a very corrosive effect on the U.S. economy. The retail sales figures from June show that large numbers of Americans no longer have extra money for items like clothing.

Americans are increasingly spending less money on clothes and home furnishings, Business Insider reported. Apparel (clothing and shoe) sales fell by 1.5% in June 2015 alone. This trend is having a terrible effect on some retailers, particularly old-school department stores.

Total retail sales fell by .1%, while home and furniture purchases fell by 1.6%, USA Today reported. It looks as if rumors of an economic recovery are greatly exaggerated. Retailers are hurting, and more hurt can be expected.

Yes there are no other reasons that the economy is sluggish

I hate to tell you this but no one thing is responsible for the anemic recovery it's a lot more complicated than that

Oh really? Well it isn't high taxes cause those are very low. What would you suggest to fix it?

 

[Wilbur Right]

People who live paycheck to paycheck live on their take home pay not their one refund check a year

And paycheck to paycheck just doesn't let them save much. So a couple thousand dollars all at once. It's a big deal and let's them make a major purchase without debt. Or pay a big bill that was a problem. Or pay security deposit and first month for better housing.

Saving 40 dollars a month just won't get them there.