The richest one percent

[Hugo Chavez]

The richest 1% earned a record of 21.2 percent of all income in 2005, up from 19 percent .

the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4

http://news.yahoo.com/s/nm/20071012/bs_nm/irs_income_dc

[Deicide]

The richest 1% earned a record of 21.2 percent of all income in 2005, up from 19 percent .

the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4

http://news.yahoo.com/s/nm/20071012/bs_nm/irs_income_dc

What Ron Paul has been saying the entire time...

[Hugo Chavez]

What Ron Paul has been saying the entire time...

not just Ron Paul... It's been a constant theme for years for many progressives.

[OzmO]

So 51%+ of all tax revenue comes from this 1%?   

[Hugo Chavez]

we also pay the majority of taxes. don't forget that small fact.

Nice red herring...  How's this logic supposed to work out for you with the point of the thread   Disappearing middle class is OK because the top guys pay taxes?  uh... OK

They also receive the brunt of whatever they want out of government, that can't be said for the masses. 

[Dos Equis]

So 51%+ of all tax revenue comes from this 1%?   

Yes.  http://article.nationalreview.com/?q=MjcxNWFhZTBkYmM2NDE1N2E3ZTRmOTcwMTMwMTY1OWY=

I think I'll create a separate thread about this.   

[Hugo Chavez]

Yes.  http://article.nationalreview.com/?q=MjcxNWFhZTBkYmM2NDE1N2E3ZTRmOTcwMTMwMTY1OWY=

I think I'll create a separate thread about this.   

from that article: Please explain this: "Those with incomes below $40,000 paid no federal income taxes at all in the aggregate."

[Hugo Chavez]

Plus this still has nothing to do with the point of the thread that the rich are getting richer while at the same time everyone else is earning less.

[Dos Equis]

from that article: Please explain this: "Those with incomes below $40,000 paid no federal income taxes at all in the aggregate."

It's explained in the very next sentence:  

"The positive liability for those who paid anything was more than offset by tax rebates from the Earned Income Tax Credit for many more who paid nothing. In total, the EITC put $41 billion into the pockets of low-income workers in 2005, 91 percent of it being paid to those with no income tax liability."

[Hugo Chavez]

Well I see that the subject of this thread will just have to change

[Dos Equis]

Plus this still has nothing to do with the point of the thread that the rich are getting richer while at the same time everyone else is earning less.

That's why I created a separate thread.  

But re the point of this thread, people earning high incomes aren't necessarily "rich."  In any event, there will always be people who earn nothing, a little, a lot, etc.  There are lots of things in place to help everyone become successful.  

[Hugo Chavez]

That's why I created a separate thread.  

But re the point of this thread, people earning high incomes aren't necessarily "rich."  In any event, there will always be people who earn nothing, a little, a lot, etc.  There are lots of things in place to help everyone become successful.  

yea of course, but this is about the trend over previous years which clearly backs up arguments of a disappearing middle class.

[Hugo Chavez]

read and weep berserker.....

address the thread assclown

[drkaje]

The richest 1% pays around 38% of all taxes.

[Hugo Chavez]

do you normally get angry and personal when your wrong ?

exactly what am I wrong on lol...  go ahead, list it

[Al-Gebra]

we also pay the majority of taxes. don't forget that small fact.

nice use of the personal pronoun there, stud. 

[big L dawg]

the goal is no middle class

[kh300]

reminds me of this

http://www.getbig.com/boards/index.php?topic=138999.0

[Deicide]

Briefly this is all a result of the printing of money (fiat currency) to make up for the huge deficit. More money is then circulating so Wallstreet is happy but wages do not go up commensurately. So the gap grows ever larger. Printing money out of thin air, among other things is what got us here in the first place.

[Dos Equis]

yea of course, but this is about the trend over previous years which clearly backs up arguments of a disappearing middle class.

Is it really a trend or just the natural outcome of capitalism? 

I don't think the middle class will ever disappear.  We'll always have unions and always have the "middle" wage earners. 

We ought to be pushing people to make more money and become high income earners and have a high net worth.  We should be teaching and encouraging the creation of wealth.     
 

[Dos Equis]

reminds me of this

http://www.getbig.com/boards/index.php?topic=138999.0

Yes.  Still a good story and good thread.   

[Hugo Chavez]

Is it really a trend or just the natural outcome of capitalism? 

I don't think the middle class will ever disappear.  We'll always have unions and always have the "middle" wage earners. 

We ought to be pushing people to make more money and become high income earners and have a high net worth.  We should be teaching and encouraging the creation of wealth.     
 

Looks like a trend to me and no, with the proper guards, you don't have to lose the middle class.

[Dos Equis]

Looks like a trend to me and no, with the proper guards, you don't have to lose the middle class.

What proper guards are you talking about? 

[Hugo Chavez]

What proper guards are you talking about? 

first at least acknowledge the trend...  Proper guards as in ones placed by government like when we use to have tariffs.

[Dos Equis]

first at least acknowledge the trend...  Proper guards as in ones placed by government like when we use to have tariffs.

I cannot acknowledge the trend based on the chart you posted.  Does that chart show that wages have gone down?  That people have moved from one bracket to another upward or downward?  What factor did education play?  Unions?  Too many variables. 

How can tariffs keep people in the middle class? 

Also, don't you think we should be pushing people into the "upper" class?