Welcome, Guest. Please login or register.
Did you miss your activation email?
03 29, 24, 08:45:12:AM

Login with username and password

Biden Does NOT need a BILL to close the border
He only needs a PEN. Thats all he needed to open it.
Thats all he needed to close it. Thats all Trump needed.
Maybe this is just Proof Trump is better than Biden.

Search:     Advanced search
2653699 Posts in 297946 Topics by 306 Members
Latest Member: chachamukhtar
* Website Home Help Login Register
 |  All Boards  |  Guest Posting Area  |  Topic: America's lost Dream and the Rise of unlimited Wealth 0 Members and 1 Guest are viewing this topic.
Pages: 1  Print
Author Topic: America's lost Dream and the Rise of unlimited Wealth  (Read 1033 times)
Narkle
Guest
« on: 03 26, 11, 09:04:07:AM » Reply

There is plenty of economic activity in the U.S., and
plenty of wealth. But like greedy children, the folks at
the top are seizing virtually all the marbles. Income
and wealth inequality in the U.S. have reached stages
that would make the third world blush.


As the Economic
Policy Institute has reported, the richest 10 percent of
Americans received an unconscionable 100 percent of the
average income growth in the years 2000 to 2007, the
most recent extended period of economic expansion.




Americans behave as if this is somehow normal or
acceptable.

It shouldn’t be, and didn’t used to be.
Through much of the post-World War II era, income
distribution was far more equitable, with the top 10
percent of families accounting for just a third of
average income growth, and the bottom 90 percent
receiving two-thirds. That seems like ancient history
now.


The current maldistribution of wealth is also
scandalous. In 2009, the richest 5 percent claimed 63.5
percent of the nation’s wealth. The overwhelming
majority, the bottom 80 percent, collectively held just
12.8 percent.



This inequality, in which an enormous segment of the
population struggles while the fortunate few ride the
gravy train, is a world-class recipe for social unrest.
Downward mobility is an ever-shortening fuse leading to
profound consequences.



A stark example of the fundamental unfairness that is
now so widespread was in The New York Times on Friday
under the headline: “G.E.’s Strategies Let It Avoid
Taxes Altogether.” Despite profits of $14.2 billion —
$5.1 billion from its operations in the United States —
General Electric did not have to pay any U.S. taxes last
year.


As The Times’s David Kocieniewski reported, “Its
extraordinary success is based on an aggressive strategy
that mixes fierce lobbying for tax breaks and innovative
accounting that enables it to concentrate its profits
offshore.” G.E. is the nation’s largest corporation.

Overwhelming imbalances in wealth and income inevitably
result in enormous imbalances of political power.

So the corporations and the very wealthy continue to do well.


The employment crisis never gets addressed.

The wars never end.

-Bob Herbert, New York Times
Jim
When someone claims to have an Open Mind they are soon shocked, dismayed, and offended that there actually are other views.
Contributor
Sr. Member

Posts: 62181

What would they do without Anecdotals or Snark


« Reply #1 on: 03 26, 11, 09:52:01:PM » Reply

As the Economic
Policy Institute has reported, the richest 10 percent of

Americans received an unconscionable 100 percent of the
average income growth in the years 2000 to 2007, the
most recent extended period of economic expansion.
 

100% ??   What did the rest of us get?
 


Are you aware there are more Rich Democrats than Rich Conservatives?
Pages: 1  Print 
 |  All Boards  |  Guest Posting Area  |  Topic: America's lost Dream and the Rise of unlimited Wealth
Jump to:  

AesopsRetreat Links


AesopsRetreat
YouTube Channel



Rules For Radicals.



2nd Amendment Source



5 minute Education




Join Me at KIVA
My Kiva Stats


Truth About
Slaves and Indians




r/K Theory




White Privilege




Conservatives:
What Do We Believe


Part 1:
Small Govt & Free Enterprise

Part 2:

The Problem with Elitism

Part 3:
Wealth Creation

Part 4:
Natural Law



Global Warming Scam



Lend a hand


Powered by MySQL Powered by PHP © AesopsRetreat
Powered by SMF 1.1.11 | SMF © 2006-2009, Simple Machines LLC
Valid XHTML 1.0! Valid CSS!
Page created in 0.28 seconds with 27 queries.