Richest 1 percent will own more wealth than the rest by next year (controversial, suspect)

[rbohm]

Originally Posted by hawaiian by heart

Can someone please explain how the poor is stealing from the rich? Im at a loss? Someone educate me because common since and logic says if thats true we wouldn't have such a huge wealth/income gap as we do today? Correct?

ok, lets start with people who perhaps lost their job, and went on unemployment income. during that time they were offered a job, but they refused to take the job because it would then end their unemployment, and they would have to get off the couch and work again. eventually their unemployment runs out, so they then either try to qualify for welfare, or they try to qualify for disability. often times they dont qualify for welfare, or disability, but rather than give up a lot of their assets to qualify for welfare, they turn to a lawyer, and figure a way to qualify for disability. there is your "theft".

Originally Posted by nononsenseguy

Guess the other 99% had better get busy.

Wealth is created, it is not finite. In order to create wealth you must work, manage your finances, save and invest. It also helps to always be working toward a better paying job by improving your knowledge and skills. That's what smart people do.

Quit blaming the "rich" for being the source of all societal ills and the reason for others failures. You have no one to blame but yourself.

Jesus told us that the "poor will always be with us." Think on that.

exactly. we need to stop worrying about what other people do, and stop with trying to punish success, and do for ourselves. government needs tax revenue to operate, but at some point it becomes bloated and demands more and more until the people decide its time to make severe changes.

[lilyflower3191981]

Originally Posted by wjtwet

They whine but do not say what their plan is

They have a plan, and that plan is called redistribution. This is the game politicians play in order to get certain votes.

They fail to realize that charity if it is REAL, must cost us. It costs absolutely nothing to take from Peter to pay Paul.

This is exactly why Socialism appeals to the poor, historically speaking. It's just as Winston Churchill once noted, "The inherent virtue of socialism is the equal sharing of miseries."

[Feltdesigner]

Originally Posted by hawaiian by heart

Can someone please explain how the poor is stealing from the rich? Im at a loss? Someone educate me because common since and logic says if thats true we wouldn't have such a huge wealth/income gap as we do today? Correct?

LOL... stop making sense.

Reminds me of people on FB complaining about the economy while throwing up photos of a new car, new house, new outfits and celebrating a new job.

[TrapperJohn]

When the money supply and wealth pool is finite get back to me. Otherwise put down the keyboard and go get yours.

[Volobjectitarian]

Originally Posted by TrapperJohn

When the money supply and wealth pool is finite get back to me. Otherwise put down the keyboard and go get yours.

This.

[2e1m5a]

Originally Posted by TrapperJohn

When the money supply and wealth pool is finite get back to me. Otherwise put down the keyboard and go get yours.

Some of us already "have ours" but that doesn't mean we will ever stop talking about the serious corruption and collusion within our financial system.

[Feltdesigner]

Originally Posted by 2e1m5a

Some of us already "have ours" but that doesn't mean we will ever stop talking about the serious corruption and collusion within our financial system.

some people think it's impossible to have money AND have concerns about corruption.

[2e1m5a]

Originally Posted by Feltdesigner

some people think it's impossible to have money AND have concerns about corruption.

Exactly-it's so odd how some on here think all rich people are just mindless drones that only care about their own personal wealth.

I can tell many on here feel that way but thankfully not all of us that are well off are so myopic.
A functioning society cannot have the majority of the population stagnating in wealth, which has been the case for 90% of the population. The Federal Reserve created TRILLIONS in made up money since 2009 and issued 95% of it to less than 1% of the population.

If anyone on here thinks this is sustainable they are sorely confused.

[mateo45]

Originally Posted by Feltdesigner

some people think it's impossible to have money AND have concerns about corruption.

That's true, although it's hard not to see some 'polarization' when every discussion of income inequality these days is instantly overrun with all the propaganda about "job creators", "class wars", the "47%", "takers", "welfare queens", etc..


https://www.youtube.com/watch?v=CKCvf8E7V1g

[Mircea]

Originally Posted by TrapperJohn

When the money supply and wealth pool is finite get back to me.

Wealth is infinite only because the value is theoretical.

The money supply is finite.

Originally Posted by Roadking2003

True. But lots of government programs artificially drive up the cost of living for everyone including the poor.

Good point.

Additionally there are many layers and layers of government regulations which drive up the cost of goods and services, driving up the Cost-of-Living.

That's what Cost Inflation is about.

The Liberal position is this tautology:

1. Levy taxes and create over-burdening regulations that artificially inflate the cost of goods and services;
2. Complain that The Poor® can no longer afford to buy the goods and services that Liberals artificially inflated;
3. Demand that the everyone else who is already paying higher artificially inflated prices pay twice by giving up what they have to The Poor®;
4. Then do it all over again.

Originally Posted by Volobjectitarian

Curious about this myself.

This entire thread is a defense of zero sum game economics, so I am assuming the "99%ers" are of the belief that the pie needs to be "resliced" and those super wealthy people need to have their wealth "redistributed" to the masses.

That's impossible.

Wealth is non-cash assets.

How did Donald Trump get his wealth? Real Estate, right?

Okay, so we divvy up Trumps Real Assets and give them to The Poor®.

Now what happens? Everything is Utopia right?

Nope, The Poor® give away all of their assets.

Give The Poor® a non-cash asset like an EBT card, and The Poor® liquidate it into cash at $0.50 on the Dollar.

Give The Poor® a non-cash asset like bus tokens -- to get to a job interview -- and the The Poor® liquidate those for cash. In this area, the bus tokens have a cash value of $1.75 (standard fare) but they are sold for $1 on the streets.

So, what will The Poor® do with $2.7 Million in non-cash assets?

The Poor® will immediately liquidate their assets for cash.

What happens when everyone sells? The price/value declines.

Okay...The Poor® have sold their $2.7 Million in non-cash assets for $500 to get some beer and weed and a tattoo.

And then some ass-clown is going to whine that The Poor® don't have any Wealth.

Originally Posted by Volobjectitarian

OK, so far I've heard dismantle the Fed.

That's a fail.

The problem is the former federal government spends far more than it collects in tax revenues generating a deficit.

The deficit is packaged and sold/auctioned as treasury securities on the World Market.

The end result is increasing federal/public debt, which is now over $18 TRILLION.

If you "dismantle the Fed," then what happens?

The former federal government still spends far more than it collects in tax revenues, and you still generate a budget deficit.

At that point, you either package the deficit as treasury securities to be sold on the World Market, resulting in massive federal/public debt....

.....or you eat it and enjoy the rampant hyper-Monetary Inflation.

Originally Posted by RebelCreator

People are inherently evil and republicans and the 1% even more so.

The primary foundation of Liberalism is that people are basically good.

Originally Posted by PedroMartinez

This disgusting collusion between government and corporations make me sick to my stomach.

Then continue whining on the internet, because that's working out really well for everyone.

Asset valuing....

Mircea