What The One Percent Doesn't Want You To Know

If one were to argue that, for instance, the top 400 held -- at some time in the past -- greater net worth than the bottom 25%, that wouldn't be a very high bar to clear! In fact, I wouldn't be a bit surprised if the wealthiest 400 ECCIE registrants have a higher aggregate net worth than the bottom 25% of the U.S. population (since the net worth of the latter group is probably very close to zero, and since it contains quite a few million households with negative net worth). Originally Posted by CaptainMidnight

Sounds like you know the data and their distribution... can I hire you as my economic fact-checker?

I would be a bit more suspicious of the wealth data than the income data. The biggest asset in most US households is the home. The housing crash put many homeowners underwater. Since then, housing values have rebounded but estimating them for the purposes of calculating household net worth is a rather subjective task.

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Inherited wealth and how 60 percent of our national income went to the richest one percent in America.... Originally Posted by SeekingTruth

There is a small percentage of the population that were born psychopathic, with no empathy.... They have no compassion for society as a whole, only their own self interest.... Originally Posted by SeekingTruth

Hey MilfDebbie, er I mean MissedtheTruth – since we're talking about the 1%, what about GLOBAL inequality? You keep obsessing on the US while failing to put your arguments into a GLOBAL perspective. Do you earn more than $34,000 a year? If so, you are in the world's top 1% according to World Bank economist Branko Milanovic. And if you make over $12,000 a year, you are still in the top 10% globally. Nearly ½ of the world's population subsists on less than $2 a day. Would you be in favor of raising taxes on everyone everywhere who earns over $12,000 a year and transferring it to the world's poorest? I notice you talk a lot about empathy and compassion. Are you willing to walk the walk (and not just talk the talk) if it puts YOUR income in jeopardy? Please think about it and let us know.


http://news.yahoo.com/attention-prot...153806044.html

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Sounds like you know the data and their distribution... can I hire you as my economic fact-checker?

I suspect that nowadays I am much too old and much too lazy for anyone to want to hire me to do anything!

I would be a bit more suspicious of the wealth data than the income data. The biggest asset in most US households is the home. The housing crash put many homeowners underwater. Since then, housing values have rebounded but estimating them for the purposes of calculating household net worth is a rather subjective task.

Yeah, I think there's plenty of reason to be skeptical of the net worth data. But for various reasons, a lot of people continually attempt to compile it anyway.

And, yes, the valuation rebound has undoubtedly eased the burden for millions who were previously underwater.

However, a very large percentage of bottom-quartile households rent single-family homes or apartments, and many have negative net worth because they are burdened with large credit card and other debt. Further, many are upside-down on car loans, despite the obvious foolhardiness of allowing something like that to happen. (But that sort of thing is what makes people land in the bottom quartile!)

Still and all, I'm not sure that the aggregate net worth of the bottom 25% is virtually zero or negative. But I wouldn't doubt it!
Originally Posted by lustylad

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I suspect that nowadays I am much too old and much too lazy for anyone to want to hire me to do anything! Originally Posted by CaptainMidnight

That's too bad. I figured you were in high demand, like the freelancing faggot from Arkansas claims to be. In that case I can only pay you MW.

That's too bad. I figured you were in high demand, like the freelancing faggot from Arkansas claims to be. In that case I can only pay you MW. Originally Posted by lustylad

Keep spreading that happiness, you weak-ass buster. Jack off of all trades, masturbator of NONE.

Jack off of all trades, masturbator of NONE. Originally Posted by WombRaider

It was funnier the first time.... oh wait, is that an example of what undercunt calls "nuance"? Now I get it!

And he also admits he's a jackoff of all trades, masturbator of ONE. Originally Posted by WombRaider

Originally Posted by CaptainMidnight
I suspect that nowadays I am much too old and much too lazy for anyone to want to hire me to do anything!
Maybe we should start calling you "Captaingoodnight", lol.

Jim

It was funnier the first time.... oh wait, is that an example of what undercunt calls "nuance"? Now I get it! Originally Posted by lustylad

You're catching on. How you gonna wack off a noodle.

Vast majority of physicians do not make anywhere near $400k per year.....same with lawyers. Originally Posted by timpage

True, true and true again. They are the current middle class. The old middle class has been driven to poverty by the Elites or "Powers That Be".

No conspiracy theory here, just my own opinion. Take it or leave it.

Hey MilfDebbie, er I mean MissedtheTruth – since we're talking about the 1%, what about GLOBAL inequality? You keep obsessing on the US while failing to put your arguments into a GLOBAL perspective. Do you earn more than $34,000 a year? If so, you are in the world's top 1% according to World Bank economist Branko Milanovic. And if you make over $12,000 a year, you are still in the top 10% globally. Nearly ½ of the world's population subsists on less than $2 a day. Would you be in favor of raising taxes on everyone everywhere who earns over $12,000 a year and transferring it to the world's poorest? I notice you talk a lot about empathy and compassion. Are you willing to walk the walk (and not just talk the talk) if it puts YOUR income in jeopardy? Please think about it and let us know.


http://news.yahoo.com/attention-prot...153806044.html

. Originally Posted by lustylad

Just goes to show how little we know about world economics. When the majority suffers, so does the Elite. When will they see that? Franklin Roosevelt saw that and came up with a solution, although I have to disagree with touting war as an incentive to drive economy. Eisinhower did that, as did Bush, his Daddy, Rumsfield, Cheney, and others who make gravy money from our young men going to war just to get a job and benefits. Who really pays? Our children who come back totally devastated from being constantly exposed to trauma and death. What has our society come to, or do we see what is happening???

I am in! We are organizing and I want to participate. Want to give me a job? I can type fast and have legal experience!

I couldn't believe when I saw a chart of who pays the most taxes (percentage wise); it was the poorest! Incredible how the government or "powers that be" thinks they can get away with this type of social depravation.

Sounds like you know the data and their distribution... can I hire you as my economic fact-checker?

. Originally Posted by lustylad

Please CM. He needs one. Badly!
Maybe if he had you as a fact checker he wouldn't sound like such a pathetic bumbling idiot trying to argue "economics".

And you can stop pretending sniveling wimp. You only need an "economic fact checker" when you actually know something. My dog took a shit earlier this morning more informed than you.

The one true fact is that 400 families in the US Control 50% of the wealth. Proven fact, you can look it up, Google it if you like. All those fact check sites, myth buster sites researched and found it true. Originally Posted by BigLouie

Amen! And the concentration of wealth at the very top is getting worse. Their children are "born rich" and do not even have to work unless they want to. If we could figure out a way to spread some of this wealth around to those less fortunate in a fair and bipartisan way, I believe the economy could (and would) thrive.

The job losses continue to grow and it's not that people want to be on welfare and food stamps. Who can live on 9 hours per week at minimum wage? That's what a manger at Domino's PIzza gave me when I complained about another driver who was taking 3 and 4 runs at a time on a slow day. This manager was also stealing the driver's tips! Texas is not a right to work state and employers often make it so difficult for an employee to work that they are forced to quit, and therefore unemployment is not an option. Most of the jobs now are low paid part-time jobs and it's difficult, if not impossible, for one person to live on that, let alone a family of 2 or 3.

I can't believe the GOP wants to keep cutting social security and spend more on national defense and other useless war machines. The reason social security may be running a deficit is because the babyboomers are coming into retirement and they are a huge part of the population. Due to the non-stop progression of the military, many soldiers are coming back to the U.S. with post traumatic stress disorder which is a very disabling condition. A lot of men from the military just drink to self-medicate instead of getting the help they need. I have been studying post traumatic stress disorder and there are other symptoms like depression and anxiety under this condition. Some are more prone to this condition due to genetics. Also, there is a lot of child abuse cases coming to the surface now because adults are getting diagnosed with complex traumatic stress disorder from being abused and/or neglected as children.

A lot of this crap was kept hidden in the 40's and 50's and is now coming to the surface. Many of these children who were continually abused and/or neglected grow up with borderline personality disorder and even agressive tendencies. I think it's very important that new parents give their children plenty of eye contact as babies, plenty of affectionate touching, and plenty of emotional support. I picked up my daughter every time she cried! She has grown up to be a very resilent young woman and is now a practicing neonatal nurse.

The one true fact is that 400 families in the US Control 50% of the wealth. Proven fact, you can look it up, Google it if you like. All those fact check sites, myth buster sites researched and found it true. Originally Posted by BigLouie

Amen!... Originally Posted by SeekingTruth

Did you pay any attention whatsoever to the discussion following the grossly erroneous quote snippet you posted?

No, of course not. Had you done so, you would have seen that it's exaggerated by a factor of approximately seventeen. You also would have noted that you don't need to post ridiculously over-the-top exaggerations in order to make the case that wealth inequality has grown rapidly over the last few decades.

Facts matter. Please at least make some rudimentary effort to get them right.

The problem in America isn't the concentration of wealth in the top tier, but the lack of wealth creation in the middle class.

Liberal democratic policies (aided by republican corporatists) are killing America's working and middle class. Massive illegal and legal immigration is driving down household wages. Record immigration is also burdening the tax base with social commitments which must be funded. We are drowning in a flood of cheap, uneducated, unskilled labor that burdens school districts, healthcare services, and our criminal justice system.

Massive legal and illegal immigration of the unskilled and uneducated is destroying opportunities for advancement up the economic ladder. And going forward it is only going to get worse.

MASSIVE SNICK!!!