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Its worse now.
When the slaves were property, the owner had to look after the slaves healthcare, an injured or ill slave is no good for the plantation. He had to house and feed them as well.
Today, they rent the slaves and some are not responsible for their healthcare, housing or food. They say That is Your Problem.
Here is a lady that lives out of her car, working full time but does not make enough for healthcare nor housing.
Those employers are reaping benefits from this worker that would make the plantation owners blush with envy.
Employed but homeless in the US: The 'working poor' who can't afford to rent.
There was a CitiGroup Memo put out many years ago to a select group of very wealthy clients. It was leaked to the internet and pissed off a lot of people.
It basically spelled out the current world structure.
All countries, the people and resources in the world are simply objects to be EXPLOITED to make the rich richer.
There is no Nationalism, No My Country, No Constitution.
These people belong in Hell and tortured forever.
From your link:
"the top 1% of households account for 40% of financial net worth, more than the bottom 95% of households put together. This is data for 2000"
So, this was 20 year ago. I'll bet today, it's worse. Perhaps the top 1% have more than the bottom 97% combined.
Some here ask me why I use the "top 1%" & not some other metric. Stories like this is my answer. Many stats track the top 1%, so its a common yardstick to use when disussing income & wealth disparity.
Like this article, I use the top 1% in terms of wealth, not income.
Imagine 1 American, out of 100 Americans, has more than the bottom 95 American combined.
I'm not for taking anything away from the top 1%, I'm for de-rigging the system they've constructed, which totally distorts what our founders built. The top 1% have replaced free trade, with crony-capitalism.
"the top 1% of households account for 40% of financial net worth, more than the bottom 95% of households put together. This is data for 2000"
So, this was 20 year ago. I'll bet today, it's worse. Perhaps the top 1% have more than the bottom 97% combined.
Some here ask me why I use the "top 1%" & not some other metric. Stories like this is my answer. Many stats track the top 1%, so its a common yardstick to use when disussing income & wealth disparity.
Like this article, I use the top 1% in terms of wealth, not income.
Imagine 1 American, out of 100 Americans, has more than the bottom 95 American combined.
I'm not for taking anything away from the top 1%, I'm for de-rigging the system they've constructed, which totally distorts what our founders built. The top 1% have replaced free trade, with crony-capitalism.
There's a simple solution that many of you keep ignoring: Instead of taxing progressively as is done in the US, tax regressively like the European countries do:
Congress implements policies, regulations, laws, etc., that further enrich the already rich, as that maximizes federal income tax revenue.
Look at which income group is paying a MUCH greater share of the Federal Income Tax (dark blue bar) than their share of the income (light blue bar):CRS (Congressional Research Service) Chart
It's Figure 7 in the report for those who have no idea what they're supposed to be looking at.
I'll let an economist explain it, again...
For those who think Congress (BOTH parties) encourages policies that result in the rich getting richer... Here's an explanation of WHY that is. (Hint: You yourselves are clamoring for exactly that to happen)...
Quote:
[Economist Anatole] "Kaletsky argues that over-reliance on progressives taxes creates "a perverse incentive for governments to promote income inequality. If the solvency of the state and the ability to fund basic services for the poorest people in society depends on the rich getting even richer, it is tempting for even the most progressive politicians to support widening inequalities."
Got that? If the solvency of the state and the ability to fund basic services for the poorest people in society depends on the rich getting even richer, it is tempting for even the most progressive politicians to support widening inequalities.
That's exactly what happens in the US, and that's the inherent fatal flaw in a progressive tax system; it distorts and exacerbates income/wealth inequality by necessity in order to maximize tax revenue. The Europeans (including the Scandinavians) have figured that out, and therefore rely most heavily on regressive taxes such as VAT and MUCH flatter income tax brackets.
THIS is how European countries tax: regressively. Be sure to read the scatter plot chart and understand what it is telling us. There IS a distinct pattern:
There's even a link to the research on which the Washington Post article is based. It includes numerous additional citations.
Why don't we just tax regressively like European countries? That removes the incentive for Congress to act in ways that widen the income and therefore wealth gap.
The progressive tax system is part of the crony capitalizm rigged system. I prefer the "Fair Tax", which is a flat consumption tax, with a helping provision for those who live in poverty.
Anything that takes away the politicians ability to generate kcikbacks for themselves, is part of the solution.
Our tax system is the perfect mechanim for politicians, big biz, & the top 1% to fleece the rest of us.
The progressive tax system is part of the crony capitalizm rigged system. I prefer the "Fair Tax", which is a flat consumption tax, with a helping provision for those who live in poverty.
And that's why the 'Fair Tax' with a prescribed exemption will fail. Either everyone pays, regardless of income amount, or the tax structure incentivizes increasing the income of some but not others, yielding exactly the same results.
"the top 1% of households account for 40% of financial net worth, more than the bottom 95% of households put together. This is data for 2000"
So, this was 20 year ago. I'll bet today, it's worse. Perhaps the top 1% have more than the bottom 97% combined.
Some here ask me why I use the "top 1%" & not some other metric. Stories like this is my answer. Many stats track the top 1%, so its a common yardstick to use when disussing income & wealth disparity.
Like this article, I use the top 1% in terms of wealth, not income.
Imagine 1 American, out of 100 Americans, has more than the bottom 95 American combined.
I'm not for taking anything away from the top 1%, I'm for de-rigging the system they've constructed, which totally distorts what our founders built. The top 1% have replaced free trade, with crony-capitalism.
I fail to see how other people’s legally earned money is of your concern unless you are jealous.
Since you are the 2%, when will you give us some of your money to even the field?
I agree with Bernie, & the latest member of the AOC socialist squad, Jamal Bowman, when they say the current system "enslaves" the 99%, and is only working well for the Elite top 1%.
Its a newer softer rendition of slavery, but it shares some of the same characteristics as old school slavery.
To a great extent, Trump, Rand Paul, The Tea Party, & myself, are saying something very similar...we are way too heavy at the top with income, wealth, & future opportunity. A barrier has been put into place between the have's & have not's...we call it "the swamp", others call it "the elite's".
We are all working on the right problem...the same problem. Income & wealth gaps that prevent many in the bottom half from saving for their futures, and moving up the social ladder. Even the top 2%-49% are having to struggle harder to stave off the top 1% to maintain their way of life.
Our proposed solutions, differ in this way....
...Bernie, AOC, & the squad feel our free market economy system has failed, & socialism is the answer. They have lost all faith in our system, & our leaders, so they want a re-set.
...Trump, Paul, the Tea Party, & I, feel the original system that America was founded upon was excellent, and got us this far, but Washington DC has been changing it for 200+ years into the convoluted version we have today; that is failing us. It has evolved very poorly into something almost unrecognizeable from where we began in 1776 w/ Declaration of Independence, 1787 with the Constitution, & in 1791 with the Bill of Rights.
I believe the 99% can force a return to the system, as originally crafted. I don't think the people we have in DC today, will ever do it. They must be removed, & replaced...en masse..peacefully.
The 99% needs to flood the zone with new candidates for every political office in DC. The 99% need to vote for their/our own candidates, to get all the incumbants out.
.....and you plan to be enslaved 100% by the socialists. Your post cannot be more sillier
.....and you plan to be enslaved 100% by the socialists. Your post cannot be more sillier
The whole thing is even funnier.
He’s in the 2%. If he knows just a tiny bit of history, he would know once the socialist monsters eat the 1%, it would be his turn. Yet, he advocates socialism nonetheless.
Another piece of history, the socialists are more brutal towards woke capitalists.
If going to socialism is inevitable, at least we can enjoy how the socialists tear beach43ofus apart. It won’t be pretty.
"the top 1% of households account for 40% of financial net worth, more than the bottom 95% of households put together. This is data for 2000"
So, this was 20 year ago. I'll bet today, it's worse. Perhaps the top 1% have more than the bottom 97% combined.
Some here ask me why I use the "top 1%" & not some other metric. Stories like this is my answer. Many stats track the top 1%, so its a common yardstick to use when disussing income & wealth disparity.
Like this article, I use the top 1% in terms of wealth, not income.
Imagine 1 American, out of 100 Americans, has more than the bottom 95 American combined.
I'm not for taking anything away from the top 1%, I'm for de-rigging the system they've constructed, which totally distorts what our founders built. The top 1% have replaced free trade, with crony-capitalism.
Focusing on other people’s wealth simply exposes your jealousy.
There are plenty of ways to remove roadblocks for the poor to rise up.
For example:
1. Remove the minimum wage law.
2. Remove vast majority of the government regulations.
3. Remove all licensing requirements.
4. Remove all tariffs and import taxes.
5. Remove all corporation tax.
Before you jump on me about not having regulations, let me remind you lying, cheating, and stealing are still illegal. Without regulations does not mean you can create harm and violate other people’s rights. It does mean if you want to be a doctor, be a doctor but you need to be liable for any malpractice.
Its worse now.
When the slaves were property, the owner had to look after the slaves healthcare, an injured or ill slave is no good for the plantation. He had to house and feed them as well.
Today, they rent the slaves and some are not responsible for their healthcare, housing or food. They say That is Your Problem.
Here is a lady that lives out of her car, working full time but does not make enough for healthcare nor housing.
Those employers are reaping benefits from this worker that would make the plantation owners blush with envy.
Employed but homeless in the US: The 'working poor' who can't afford to rent.
she's not working full-time, she's working part-time. she lost one job in 2012 ... not 2007-2009 ... 2012. She's ben living out of her car for 5 years.
She could eat fruits and vegetables, salad bars, get a sandwich made at a grocery deli counter, etc ... there is NO "since she doesn't have a stove or refrigerator, she must live on fast food"
and most importantly, she's in Santa Barbara. Why does she have to stay in expensive Southern CA?
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