People are starting to get it. The cronies better shut up about income inequality if they wish to keep their money. "The "economic and political power of those at the top," Edelman said, is "making it virtually impossible to find the resources to do more at the bottom. "The only way we will improve the lot of the poor, stabilize the middle class, and protect our democracy is by requiring the rich to pay more of the cost of governing the country that enables their huge accretion of wealth."" http://www.usatoday.com/story/news/world/2014/11/07/globalpost-richest-poorest/18640031/ There's been class warfare going on for the last 20 years, and my class has won." Billionaire investor Warren Buffett made that remark more than three years ago and it still holds true today — only the gap between the richest and the poorest has gotten even wider. Here's how bad it is: Oxfam now calculates that the 85 richest billionaires on the planet, including the likes of Carlos Slim, Bill Gates and Mark Zuckerberg, have as much money as the 3.5 billion poorest people. And for all the talk about the urgent need to address income inequality, the mega-rich just keep on getting richer. How much richer? Oxfam estimates that between March 2013 and March 2014, those same 85 billionaires saw their wealth grow by $668 million every day. These people are so grotesquely rich that if Bill Gates, for example, spent $1 million every day, it would take him 218 years to exhaust his funds. That, of course, would never happen because Gates would be earning millions of dollars a day in interest on the rest of his wealth. When you have more money than you could possibly spend in several lifetimes, you can afford to do some pretty crazy things. Like spend $95,000 on a 4 lb white truffle that looks like a turd because when your name is Vladimir Potanin, the Russian mining tycoon, and you have a net worth of $13.9 billion, $95,000 is pocket change. Much ink has been spilled about the widening gap between the richest and the poorest, and about what it means for the global economic outlook, and yet, extreme inequality persists. And while some argue that more should be done to help people at the bottom, rather than attack those at the top, former US Department of Health and Human Services assistant secretary Peter Edelman said it was time for the rich to pay up. "I used to believe," Edelman said in his book "So Rich, So Poor," "that the debate over wealth distribution should be conducted separately from the poverty debate, in order to minimize the attacks on antipoverty advocates for engaging in 'class warfare.' But now we literally cannot afford to separate the two issues." The "economic and political power of those at the top," Edelman said, is "making it virtually impossible to find the resources to do more at the bottom. "The only way we will improve the lot of the poor, stabilize the middle class, and protect our democracy is by requiring the rich to pay more of the cost of governing the country that enables their huge accretion of wealth." Don't hold your breath.
and the also get to arrange the part of the deck dealt out by the politicians. and I also note, I am not sure anyone knows how much the private central bankers really own so it could be even more slanted than that. for instance if warren buffett has 75 billion how much do the central bankers have who tossed him so many of his deals?
1. Whaddayamean? The rich already pay for ALL of the "cost of governing" + lifestyle subsidies for the ne'er-do-well. 2. 3.5 Billion people on this planet SHOULD NEVER HAVE BEEN BORN! People should not create children they can't afford to support and nurture.
This shows how childishly naive the left's understanding of economics is. They seem to think rich people's money is piled up in the corner, being selfishly hoarded and prevented from doing good deeds. They also blithely assume, against all evdience, that the only way to improve the lot of the poor is for government to redistribute wealth from those at the top to those at the bottom. Conveniently, this view is reflected to their class warfare political appeal. Just vote for them and they'll do the dirty work of confiscating those assets and doling them out properly. Just remember, these are the same geniuses who think the way to solve a housing crisis is with rent control.
my point is that income taxes and death taxes have been making the situation worse. let the 99.5% keep their money
It is absolutely hysterical to see the left bitch about wealth inequality while pressing for bigger government. You MFers are from a much stoopider planet than I am.
The great equalizer as in the 1929-32 BEAR generates fairness in gap .... is a-coming - its got to After the Depression households across the income spectrum enjoyed income growth roughly commensurate with losses during the downturn. As a result the top 1% only captured about 28% of total income growth from 1933 to 1936. This time around 95% of the increase in American income since 2009 has gone to the top 1%. No wonder, then, that the share of national income flowing to the rich is at a record high of 19.3%, ahead of both 2007 and 1929. In chart see extreme right bars right next to the dark Top 1% bar = key thing to note is the staggering difference = its not subtle The great equalization is soon to get underway = rich will take it in the ass, so will the poor but the effect on the rich will be exponentially higher Fasten seatbelts, hide and watch There is no need to focus on solving this issue, BEAR will solve it like he always does every 70 years or so. Its part of the implant in the mind of the HERD = reason why HISTORY is never learned but instead ignored