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The One Percent Documentary on youtube and Born Rich

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posted on Feb, 1 2012 @ 12:20 AM
This doc was posted under "highly speculative" but just the trailer

It's excellent to side the 1% from the inside out. I had already seen his first doc "Born Rich" -- which is also posted here -- as it might be a good primer for the 1% doc. They overlap a bit since they're both autobiographical a bit.

posted on Feb, 1 2012 @ 01:22 AM
reply to post by fulllotusqigong

This is all I have to add, give it a view. Im sure you'll get it
ure you;ll you'll understand

posted on Feb, 1 2012 @ 01:13 PM
lazy middle class intellectual indeed, i just did not get the point of the 1% and born rich movies.

posted on Feb, 1 2012 @ 05:18 PM
There was an op-ed today in the Startribune of Minnesota -- stating that if all the billionaires paid all their money to the government and then all the millionaires -- it still would not pay off the government spending for 2012 -- some 3 trillion plus.

The op-ed misses a crucial point that there is always government debt -- the question is what population has to carry the burden of the debt? It should be proportionate to how much money was made out of the public goods made privately available.

The other big factor left out by the op-ed is corporate taxes versus individual taxes.

Professor Richard Wolfe just published an excellent new column on the 1% and taxes.

Who REALLY Pays Taxes?

Another such argument runs roughly as follows: “the richest 5% of income-receivers in the US pay over half of all of Washington’s income tax receipts.” First of all, those same people pay a tiny percentage of Washington’s social security and Medicare receipts. That is simply because, the richest Americans earn the largest portion of their income from sources other than wages and salaries – such as interest, rents, dividends, and capital gains. Incomes from such other sources do not have to pay social security or Medicare taxes. Since Washington’s social security and Medicare tax receipts are now as large or larger than its individual income tax receipts, any honest assessment of what the richest Americans pay cannot exclude counting social security and Medicare taxes paid disproportionately by the bottom 99% - just what most of the right-wing analyses routinely do. One way to cut through the misinformation around taxes created by the right is to see what happened to the distribution of incomes among Americans over recent years. Did the US federal tax system hurt the top 1% and help the remaining 99%; does it operate “unfairly” as they claim? An answer emerges from the best professional statistical work yet done on the US income distribution: that of Professors Piketty and Saez (widely available on the internet). Their work covers 1993 to 2007 (before the current crisis hit). They found that the average annual growth in US real incomes over those years was 2.2%. In contrast, the real annual income growth of the incomes of the richest 1% was 5.9%. The real annual income growth of the other 99% of the US was 1.3%.

edit on 1-2-2012 by fulllotusqigong because: (no reason given)


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