francoHFW
Diamond Member
Read my link, dupe. We have flat tax system if you count all taxes, a giveaway to the rich. And it just got a lot worse.Back a few posts, I think I asked what the income tax should be on the rich, yet never was answered. How much should the rich be taxed? Why should people who don't work, be allowed to vote? If you don't contribute to the country then you shouldn't have a right to be part of it...Totally duped.https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.washingtonpost.com/news/wonk/wp/2012/09/19/heres-why-the-47-percent-argument-is-an-abuse-of-tax-data/?utm_term=.c038d90627fb&ved=2ahUKEwji7ZSWkbDaAhVtZN8KHZoaDBkQFjAAegQICBAB&usg=AOvVaw3is_MzKlPNxJAfC1hfZZHdYou know the non rich, don't pay taxes, why should they get a tax cut, when they get income tax credits? Isnt taking enough of someone elses money enough? Or are you a welfare queen so want more?How can you get that so wrong LOL! I want big tax cuts for the non rich and big tax hikes on the rich and Mega rich especially.So you are okay with them NOT paying their fair share, but want the rest of US to pay more?
Actually we have basically a flat tax system if you count everything, a giveaway to the rich.
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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/us
Keep watching Fox and listening 2 Rush and you become a total idiot, super duper dupe.