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Class Warfare?

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Posted

http://blog.buzzflash.com/node/12199

In 1979 the richest 1% of Americans earned 9% of all US income. Now they earn 24% of all US income. 1% of Americans earn nearly 1/4th of all the income in the country.

From 1990 to 2005, adjusted for inflation, the minimum wage is down 9%, while production workers' pay is up only 4.3% - over fifteen years.

At the same time, the rich get richer:

Corporate profits are up 106.7%.

The S&P 500 is still up 141.4% since 1990.

CEO compensation is up 282%.

Call it transfer of wealth. Or call it class warfare.

"Children from low-income families have only a 1 percent chance of reaching the top 5 percent of the income distribution, versus children of the rich who have about a 22 percent chance.

"Children born to the middle quintile of parental family income ($42,000 to $54,300) had about the same chance of ending up in a lower quintile than their parents (39.5 percent) as they did of moving to a higher quintile (36.5 percent). Their chances of attaining the top five percentiles of the income distribution were just 1.8 percent."

:sad::sad::sad:Won't somebody please think of the rich?:sad::sad::sad:

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Posted

In 1960, one in three children lived in poverty.

In the mid-1950s, 25% of the population lived below the poverty line.

In 1958, 60% of the population over sixty-five had incomes below $1,000.

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Posted

Noam Chomsky is a hypocrite.

Don't tax me bro.

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Posted

In 1960, one in three children lived in poverty.

In the mid-1950s, 25% of the population lived below the poverty line.

In 1958, 60% of the population over sixty-five had incomes below $1,000.

in 1958 a brand new sports car cost about 900$ and my grandmother's mortgage on her apartment condominium was $135/mo.

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Posted

http://blog.buzzflash.com/node/12199

:sad::sad::sad:Won't somebody please think of the rich?:sad::sad::sad:

That 1% also pays 60% of the country's taxes dumbass.

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Posted

http://blog.buzzflash.com/node/12199

:sad::sad::sad:Won't somebody please think of the rich?:sad::sad::sad:

And what would your solution be?? redistribute wealth to the poor??

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Posted

in 1958 a brand new sports car cost about 900$ and my grandmother's mortgage on her apartment condominium was $135/mo.

So what inflated those prices? The rich or the government?

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Posted

And what would your solution be?? redistribute wealth to the poor??

duh.

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Posted

That 1% also pays 60% of the country's taxes dumbass.

I think it's because they control most of the wealth. I could be wrong. If you think the solution to 1% of the country controlling 1/4th of the wealth is to decrease taxes or maintain the status quo, I don't know what to tell you.

Dumbass.

Actually, from what I've gathered here, most of you think that IS the solution, so I will make the same proposal I made in another thread: Eliminate all taxes, so that the safety net that prevents the poor from starving is removed, as is the authority that prevents the poor from revolting and killing the rich. Deal?

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Posted

:smilielol5: @ poor people

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Posted

So what is the point op? The rich are rich, and getting richer? OK.

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Posted

So what is the point op? The rich are rich, and getting richer? OK.

At the expense of...?

And what class did the extension of the Bush tax cut debate center on?

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