This is my main grief with our country. I am glad top see an income inequality thread again. Here is my input:
My conservative friend asked,
"as far as giving tax breaks to rich people.you ever got a job from a poor person?"
Have you ever gotten rich from a rich person? Your question was meant to imply that rich people create jobs, or "Trickle-down Economics". That
concept has been proven a failure since it was conceived. The top .1% in America now own 49.6% of all the nations income according to a study done by
UC Berkley. It has doubled since 2001. From 2002-2007 the top 1% captured two thirds of the economic growth. Think about that. The top 1% captured 66%
of economic growth. Leaving the rest of us in the dust. Let's see how they "created jobs" with all the wealth they accumulated.
Since "trickle Down Economics was conceived in the early eighties, private sector job growth was at 31%. In 2001 the private sectors were creating
only 23% of the jobs, by 2009, it is at 1.1%. But wait, I thought rich people create jobs. No, they don't. They took their tax breaks and kept all
the money, all while saving a few more bucks by shipping American jobs overseas.
Want me to tell you where the job growth has been? The public sector. That's right, the government. While the private sectors job growth was at 1.1%,
the government was at 2.4%. In the last 10 years manufacturing has shed 5.3 million jobs. They are the ones that make things. So, you see, numbers
don't lie, and they don't care what party affiliation you have. They are just plain facts. See for yourself:
"how can you give a tax cut to someone that doesn't pay # for taxes anyway."
Again, I not sure where you are going with this. Perhaps you are trying to say either poor people, illegal immigrants, or tax evaders are getting tax
cuts? Sounds to me like you worded a conservative hot topic and republican talking point wrong. It was supposed to say, "The rich are over taxed and
carry too much of the tax burden." To that I say, let's take a walk in history. The 1950's were undoubtedly the best economic time America has ever
seen. The GDP growth literally went off the chart. See for yourself:
The tax rate for the top 1% between 1918-1921 stay above 73%. Then when it dropped to 25% in 1925 it help trigger The Great Depression. The tax rates
for the super rich were raised again starting in 1932. And then between 1951-1963 at the height of America's greatest economic boom it was at 91%.
Then Reaganomics and conservatism were born in the 1984, but the rate stayed around 50% till 1986 when it began dropping. By the time G. W. Bush took
office it was at 39.6%. He lowered it even more to 33%. Then Obama wants to raise it 2% to 35% and everyone wants to say he's redistributing wealth
and call him a socialist. Do you see how ridiculous that is now? The redistribution of wealth definitely happened. It went to the top. And those
people that yell socialism looked like what they are...stupid.
If you have been keeping up and looking at the data I'm presenting you then you saw the chart. Numbers don't lie, and that talking point about the
rich peoples' tax burden is a dreamed up fallacy , and yet conservatives parrot it regularly, to get folks that don't know better to repeat it. Then
they fooled poor people into protesting against rich peoples tax hikes. (Tea-baggers) That was sick. And those people looked like what they
[edit on 22-4-2010 by 12GaugePermissionSlip]