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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.
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.
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".
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..
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)