It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Where has the income growth in the US been going the past few decades?

page: 1
7

log in

join
share:

posted on Apr, 2 2012 @ 12:14 AM
link   
www.washingtonpost.com...


In 2010, according to a study published this month by University of California economist Emmanuel Saez, 93 percent of income growth went to the wealthiest 1 percent of American households, while everyone else divvied up the 7 percent that was left over. Put another way:



It was not ever thus. In the recovery that followed the downturn of the early 1990s, the wealthiest 1 percent captured 45 percent of the nation’s income growth. In the recovery that followed the dot-com bust 10 years ago, Saez noted, 65 percent of the income growth went to the top 1 percent. This time around, it’s reached 93 percent — a level so high it shakes the foundations of the entire American project.


That's quite a gain in just a few decades. 45 percent to 93 percent?


middle class enduring prolonged stagnation isn’t likely to fund projects the nation needs to undertake — such as rebuilding our infrastructure or increasing teacher pay — or, ultimately, to retain its faith in the efficacy of democracy. The rise of super PACs, the low rates of taxation on capital gains and hedge fund operators, the ability of the major banks to fend off reform — all testify to the power of a neo-plutocracy beyond democratic control.


To sum up the above (in my opinion)....corporations are buying our government.

If this trend continues another decade, what will the numbers be then? 95 percent? Maybe even more?

Here's a video that also covers the same article




edit on 2-4-2012 by buni11687 because: (no reason given)




posted on Apr, 2 2012 @ 12:20 AM
link   
Man, I knew the answer before I even opened the thead.


When working people call for the rich to pay more taxes, they call it "class warfare".
When working people are forced to pay more taxes, they call it "capitalism".

Edit: And by "they" I mean the politicians and the rich people they protect.
edit on 2-4-2012 by ProjectBlue because: (no reason given)



posted on Apr, 2 2012 @ 12:22 AM
link   
to answer your question the growth goes to the private contracting arms dealers of the military industrial complex who are not limited to arms dealers but also energy suppliers



posted on Apr, 2 2012 @ 12:25 AM
link   
reply to post by ProjectBlue
 





When working people call for the rich to pay more taxes, they call it "class warfare".
When working people are forced to pay more taxes, they call it "capitalism".


That's a pretty accurate quote for the current times.

In the video in my OP , the host says Clinton created 23 million jobs, and also raised taxes....and when Bush Jr. was president, he only created 3 million jobs, and lowered taxes....Im trying to find out how true that is, so if anyone has a link refering to that, I would appreciate it. (Im searching for one at the moment, but no luck so far)



posted on Apr, 2 2012 @ 12:55 AM
link   
I've always known that "Trickle-down Economics" was a scam.

The scam is that, by lowering the taxes on corporations, they will have more money to expand their business, hire people and thus create more jobs. Eventually, that money will "trickle down" to the working people in the form of wages. It's BS. Those people aren't job creators, they're money hoarders. Besides, if that money is going to get to me, I don't want a trickle. I want a full open flow.

Maybe we need a law that will require them to invest a percentage of their ill-gotten profits in creating those jobs that we so sorely need.

edit on 2-4-2012 by N3k9Ni because: typo



posted on Apr, 2 2012 @ 01:09 AM
link   
reply to post by N3k9Ni
 


It is BS! But not because they don't create jobs, but because they send those jobs over to INDIA and CHINA, of course so that they can pay their workers a lower wage then in the US.


What we need is some kind of incentive for job creators to create jobs in the US. I'm sure they would find a way around that, too.

And "money hoarders" is the exact term I use to describe these people. If you are not allowed to hoard obscene amounts of food, water, or fuel, then why are you allowed to hoard obscene amounts of money?
edit on 2-4-2012 by ProjectBlue because: (no reason given)



posted on Apr, 2 2012 @ 01:17 AM
link   
reply to post by ProjectBlue
 


You got that right. Besides sending jobs overseas, they pay no taxes on overseas profits and no import tariffs on products brought into the US for sale.



posted on Apr, 2 2012 @ 05:37 AM
link   
The best part about trickle down economics is when the rich pee on your leg and tell you it's raining.



posted on Apr, 2 2012 @ 03:21 PM
link   
Well obviously this income growth isn't enough because they need more tax cuts. All that extra income at the top simply isn't enough to create jobs.



posted on Apr, 2 2012 @ 03:22 PM
link   
Taxes, taxes and more taxes

entitlement programs, welfare, unemployment, lawsuits

human greed is what happened



posted on Apr, 2 2012 @ 03:31 PM
link   
Have you all not put 2 + 2 together yet? ALL manufacturing is going to China ON PURPOSE. The EPA is destroying any opportunity of manufacturing in the USA. This is done on purpose. The elites get to have 1 base of manufacturing for the entire world with unrestricted environmental laws. Then they get to tax the crap out of all of us keeping the monopoly going.. China has no environmental regulations so all manufacturing moves there and all of us no longer produce anything. This is why China buys so much of our debt. We are on welfare to China thanks to the good old EPA.. And if you want to know where this road ends? Just go look at the smaller former soviet union states on social welfare, eating out of cans on dirty sidewalks in dirty clothing..


edit on 2-4-2012 by libertytoall because: (no reason given)



posted on Apr, 2 2012 @ 03:35 PM
link   
reply to post by libertytoall
 





Have you all really not put 2 + 2 together yet? ALL manufacturing is going to China. The EPA is destroying any opportunity of manufacturing in the USA. This is done on purpose. We are all on China's welfare sheet. China has no environmental regulations so all manufacturing moves there and all of us no longer produce anything. This is why China buys so much of our debt. We are on welfare to China thanks to the good old EPA..


Right...and it has nothing to do with them paying chinese workers 25 cents an hour, 80 hours a week....many of whom actually live at work and never leave the grounds for anything...where they have nets around the buildings to discourage people from committing suicide.

Labor costs. American's want a decent wage, benefits, pensions.

It's free trade that is causing this...not the EPA. We can't compete with slave labor unless we accept the same wages.
edit on 2-4-2012 by David9176 because: (no reason given)



posted on Apr, 2 2012 @ 04:51 PM
link   

Originally posted by libertytoall
Have you all not put 2 + 2 together yet? ALL manufacturing is going to China ON PURPOSE. The EPA is destroying any opportunity of manufacturing in the USA. This is done on purpose. The elites get to have 1 base of manufacturing for the entire world with unrestricted environmental laws. Then they get to tax the crap out of all of us keeping the monopoly going.. China has no environmental regulations so all manufacturing moves there and all of us no longer produce anything. This is why China buys so much of our debt. We are on welfare to China thanks to the good old EPA.. And if you want to know where this road ends? Just go look at the smaller former soviet union states on social welfare, eating out of cans on dirty sidewalks in dirty clothing..


edit on 2-4-2012 by libertytoall because: (no reason given)


I just don't understand this, I mean I get what you are saying but surely the West (currently) is the East's largest customer?... If the West isn't buying the East's produce because we're all on social welfare then surely the East will fall in recession too at some point? I don't see how this will benefit anyone?

The only way to level the playing field (in simple economic terms) would be to apply some sort of tax on corporations for exploiting the free market and in effect keeping the West competitive.

It's clear to see that these measures aren't in place and if they aren't in place then I can only conclude that it is deliberate. But how does that really benefit anyone, especially in the West?

Also, what do you propose, emigration?

edit on 2-4-2012 by lioninthenorth because: (no reason given)



new topics

top topics



 
7

log in

join