Watch the 1% gobble up the country's income

[Blart]

http://economistsview.typepad.com/ec...lizations.html

The Gini coefficient measures the gap between rich and poor.

Red is for a low gap, green is a high gap.



This gif shows the change in income going to the 1%.

Red is low, green is high.






In other news, the house voted to cut funding for food stamps.

[barryr]

Obama and his transferring of wealth is really more about those with just a little more than those in poverty pay more and give up their "wealth." The big corporations and unions giving millions to the DNC keep theirs.

[pricejj]

1. All the bailouts and QE's have made the acquisition of REAL assets impossible for most Americans.
2. Under the Socialist Democrat policies of the last 5 years, the gap between the rich and the poor has grown increasingly larger.
3. Obamacare is a massive transfer of wealth from middle class taxpayers to the corporations (and 1%).

Congratulations Blart (and others like him) for getting exactly what you voted for. You cannot say you weren't warned.

[W*GS]

Originally Posted by pricejj

2. Under the Socialist Democrat policies of the last 5 years, the gap between the rich and the poor has grown increasingly larger.

Nonsensical.

[Meck77]

So anyone know if Warren Buffet has volunteered to pay more taxes? Obama's buddy did admit he's not paying enough!

It's a big ass joke that the federal government gives a rats ass about the people. They do just enough to prevent civil unrest. Meanwhile the average joe sits on his couch and b****es on the internet.

How many of you have actually ever set foot in your state capital to complain? Speak on a bill? Meet with your representatives?

Anyone? Anyone?

[Rohirrim]

In an interview on "Squawk Box," the founder of hedge fund Duquesne Capital said that the Federal Reserve's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.

"This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."

"Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff? You think I hate this stuff? I had a very good day yesterday."

Druckenmiller, whose net worth is estimated at more than $2 billion, said that the implication of the Fed's policy is that the rich will spend their wealth and create jobs—essentially betting on "trickle-down economics."

"I mean, maybe this trickle-down monetary policy that gives money to billionaires and hopefully we go spend it is going to work," he said. "But it hasn't worked for five years."http://www.nbcnews.com/business/hedg...ich-4B11199524

I didn't vote for Obama in this last election, but I've been seriously shocked at how wrong he has been on these issues. I don't think Bush or Romney could have done a much better job at catering to the desires of the rich and powerful to the exclusion of everybody else. Five years ago, the largest ponzi scheme in history destroyed our economy. The FBI found indications of widespread fraud. Number of indictments under Obama? 0. Instead, Obama created a new philosophy: Too big to fail. As the hedge fund manager above points out, Obama has turned into the biggest supply sider in America.

[pricejj]

Originally Posted by W*GS

Nonsensical.

Look at Blart's graphs if you don't believe it. Not only is the distance between rich and poor widening, the rate of separation has increased.

Like I said, don't say I didn't warn you. The funny part is, Blart doesn't know that he has proven that all the policies he promotes simply don't work...


...unless that is, you want to make give more wealth to rich, in which case he's done a fabulous job.

[W*GS]

Originally Posted by pricejj

Look at Blart's graphs if you don't believe it. Not only is the distance between rich and poor widening, the rate of separation has increased.

How is that "socialism"?

[UltimateHoboW/Shotgun]

[houghtam]

Originally Posted by UltimateHoboW/Shotgun

You forgot "uppity"...because if that black man is anything, he's uppity.

[Rohirrim]

Originally Posted by pricejj

Look at Blart's graphs if you don't believe it. Not only is the distance between rich and poor widening, the rate of separation has increased.

Like I said, don't say I didn't warn you. The funny part is, Blart doesn't know that he has proven that all the policies he promotes simply don't work...


...unless that is, you want to make give more wealth to rich, in which case he's done a fabulous job.

He's doing the same thing Bush did. When Bush did it, you loved it. When Obama does it, it's socialism.

BTW, I laugh my ass off every time I hear some Right wingnut call Obama a socialist.

[pricejj]

Originally Posted by Rohirrim

He's doing the same thing Bush did. When Bush did it, you loved it. When Obama does it, it's socialism.

BTW, I laugh my ass off every time I hear some Right wingnut call Obama a socialist.

WTF are you talking about? I never voted for Bush, and never supported the "War on Terror". Keep trying to insult people with your pathetic "wingnut" bullcrap. The only wingnut I see, is you.

You're probably one of the guys who was completely against Bush's war on terror, but in complete support of Obama's war on terror. Give me a freaking break.

[pricejj]

Originally Posted by W*GS

How is that "socialism"?

How else would you define government takeovers and continuous massive re-distribution of tax dollars? The current administration's utter and complete failure, doesn't change their intent.

In your mind, Socialism is a happy utopia where everyone works like ants in a colony. Reality is a far different animal.

[houghtam]

Originally Posted by pricejj

How else would you define government takeovers and continuous massive re-distribution of tax dollars? The current administration's utter and complete failure, doesn't change their intent.

In your mind, Socialism is a happy utopia where everyone works like ants in a colony. Reality is a far different animal.

If you were a true anti-socialist and not a Bush supporter, you would have included at LEAST the last 12 years.

Your agenda is clear.

Begone.

BTW, how is Jared Crick doing?

[Taco John]

It's pretty disgusting. It's only going to get worse now that Bernanke has announced that they're going to continue printing money.

[barryr]

The rich are getting richer, the poor poorer, and the debt is out of control, but Obama is doing great and anything bad happening isn't his fault of course.

[pricejj]

Originally Posted by houghtam

If you were a true anti-socialist and not a Bush supporter, you would have included at LEAST the last 12 years.

Your agenda is clear.

Begone.

BTW, how is Jared Crick doing?

Really the only thing I think Bush was guilty of is going along with the Iraq and Afghanistan wars, which I've decried many, many times. Talk about Bush all you want, I don't really care. Remember, almost all the Democrats and Republicans voted to go to war in Iraq and Afghanistan (and also voted to extend those wars). Frankly, Bush is super-old news, and doesn't have anything to do with the US current economic state.

ZIRP, QE, Obamacare, Obama's expansion of the war on terror, and his dictator-like actions are much more destructive to this country.

[pricejj]

I soured on Crick after the combine, and wanted Wolfe. However, Crick did start the 1st game of the year, and is expected to play 50% of snaps this year.

[W*GS]

Originally Posted by pricejj

Frankly, Bush is super-old news, and doesn't have anything to do with the US current economic state.

The Bush regime destroyed the economy - it takes longer to build than to destroy. His cabal caused damage that will take decades to fix.

[B-Large]

Originally Posted by pricejj

1. All the bailouts and QE's have made the acquisition of REAL assets impossible for most Americans.
2. Under the Socialist Democrat policies of the last 5 years, the gap between the rich and the poor has grown increasingly larger.
3. Obamacare is a massive transfer of wealth from middle class taxpayers to the corporations (and 1%).

Congratulations Blart (and others like him) for getting exactly what you voted for. You cannot say you weren't warned.

I agree with point #1... And chance to run a side by side the income gap map, and a chart that shows the increase of finance as share of GDP?

[Blart]

Originally Posted by Taco John

It's pretty disgusting. It's only going to get worse now that Bernanke has announced that they're going to continue printing money.

Yeah, boy that inflation is out of control You austrians never give up.


Aside from all the economic anti-math voodoo, I'm glad that everyone in this thread acknowledges there's a wealth gap and it's increasing. That's the important point.

[UltimateHoboW/Shotgun]

Originally Posted by houghtam

You forgot "uppity"...because if that black man is anything, he's uppity.

What a $h!tty way to try and inject race into this. But typical of racist like yourself.

[Blart]

Originally Posted by pricejj

1. All the bailouts and QE's have made the acquisition of REAL assets impossible for most Americans.

How?

2. Under the Socialist Democrat policies of the last 5 years, the gap between the rich and the poor has grown increasingly larger.

Which new socialist policies are you speaking of? Can you name three of them, and how much they increased by, and how much this directly affected the wealth gap?

Here's a hint: there are no socialist policies from the last 5 years.

3. Obamacare is a massive transfer of wealth from middle class taxpayers to the corporations (and 1%).

By how much? Can I get a clear number on this? And your source?


Correct me if I'm wrong, but it seems you're regurgitating rhetoric you've heard from right-wing sources. If you have actual numbers and evidence, I apologize for assuming otherwise and would love to see them.

[pricejj]

Originally Posted by Blart

Aside from all the economic anti-math voodoo, I'm glad that everyone in this thread acknowledges there's a wealth gap and it's increasing. That's the important point.

Do you even realize that this is largely attributable to the policies adopted by the administration you campaigned and voted for?

[TonyR]

A bit tangential to the thread topic but a couple of good posts from Kevin Drum on the extent austerity has hurt the recovery.

http://www.motherjones.com/politics/...s-debt-ceiling

http://www.motherjones.com/kevin-dru...erican-economy