Blah blah blah income inequality

[TradeNurkicNow]

[video=youtube;QPKKQnijnsM]

Road to serfdom, etc.

 

[drexlersdad]

why do you hate america?

 

[TradeNurkicNow]

god i just hate america so much

 

[Denny Crane]

I don't know where to begin with all the bogus assumptions and assertions in the video.

The relative wealth of people is irrelevant. What counts is whether people can afford food, housing, gasoline, etc. And they can.

The only telling stat in the whole video is that rich people figure out to save money and invest it, while "poor" people don't. Whose fault is that?

Seriously, people in the middle three quintiles should be buying stocks and bonds with at least 10% of their income and living rather nicely on the rest. But they don't.

I don't blame the rich.

 

[drexlersdad]

but maybe someday, you can be the 1%!

whats the problem, you arent dumb enough to fall for that?

then here, take some of these pills!

now watch the "news" and everything will start to make sense

 

[drexlersdad]

What counts is whether people can afford food, housing, gasoline, etc. And they can.

interesting

 

[Denny Crane]

The real issue is inflation, even at a very low level, means EVERYONE needs a cost of living increase every year (or constantly) to keep up the same standard of living. Fortunately, the price of many things has declined over time, in real and constant terms. Unfortunately, the really big things haven't - like cars and houses and educations and health care.

http://www.mybudget360.com/us-media...3-household-income-american-household-income/

Some really good explanation and charts at the link.

As far as anyone joining the 1%? The opportunity is there. Sam Walton did it. Jeff Bezos did it. Mark Zuckerberg did it. By definition, 1 out of every 100 people manage to make the top 1%

 

[Denny Crane]

interesting

Seriously. The median income before Pelosi became speaker of the house was like $56K. A mortgage payment of 1/4 that is about $1200/month. Enough to pay for a house with a $250K mortgage on it. That buys a decent condo in Seattle, 5 homes in La Pine Oregon, 2 town houses in suburban Chicago, etc.

The median income means fully 1/2 the work force makes at least that amount. There are a lot of people making $100K incomes who can afford at least a $500K mortgage. And so on.

 

[drexlersdad]

By definition, 1 out of every 100 people manage to make the top 1%

couldnt have said it better myself

their interests are a ridiculous minority, yet they hold massive political influence

america is brutally and astoundingly brainwashed

 

[drexlersdad]

Seriously.

well shit, obama is doing an amazing job id say

 

[Denny Crane]

couldnt have said it better myself

their interests are a ridiculous minority, yet they hold massive political influence

america is brutally and astoundingly brainwashed

It's not a static 1%. I can think of two guys off the top of my head who were top 1% who aren't now. Mike Tyson and Alan Iverson.

 

[PapaG]

It's not a static 1%. I can think of two guys off the top of my head who were top 1% who aren't now. Mike Tyson and Alan Iverson.

Techinically, it's one out of every hundred taxpayers, not 1/100 people.

 

[drexlersdad]

It's not a static 1%. I can think of two guys off the top of my head who were top 1% who aren't now. Mike Tyson and Alan Iverson.

mike tyson and allen iverson hold massive political influence?

 

[drexlersdad]

Techinically, it's one out of every hundred taxpayers, not 1/100 people.

"tax payers" or "tax filers"?

 

[Denny Crane]

mike tyson and allen iverson hold massive political influence?

They were top 1% and aren't now.

They likely don't hold massive political influence.

Best government money can buy. Literally. And all meanings of "buy."

 

[Haakzilla]

...haha, I posted this in the "Stupid & Random Thoughts" thread yesterday --> http://sportstwo.com/threads/124304-NSFW-Stupid-Random-Thoughts?p=2967652&viewfull=1#post2967652

 

[Denny Crane]

Techinically, it's one out of every hundred taxpayers, not 1/100 people.

Technically, the video talks about wealth, not income.

 

[Eastoff]

The Dow Jones is at it's all time highest, but american family income is at it's lowest it 10 years. The US produces the most oil in the world, but gas prices are still at near record highs. the top 1% are just too greedy.

 

[Denny Crane]

The Dow Jones is at it's all time highest, but american family income is at it's lowest it 10 years. The US produces the most oil in the world, but gas prices are still at near record highs. the top 1% are just too greedy.

Obama/Biden 2008

 

[blazerboy30]

The Dow Jones is at it's all time highest, but american family income is at it's lowest it 10 years. The US produces the most oil in the world, but gas prices are still at near record highs. the top 1% are just too greedy.

What does "too greedy" mean?

 

[Eastoff]

What does "too greedy" mean?

Taking too much of the profits for themselves and not enough for their workers. Maybe I'm just jaded from my own experience though.

 

[blazerboy30]

Taking too much of the profits for themselves and not enough for their workers. Maybe I'm just jaded from my own experience though.

How much is "too much"?

 

[Denny Crane]

The top 1% take too much risk.

 

[maxiep]

The Dow Jones is at it's all time highest, but american family income is at it's lowest it 10 years. The US produces the most oil in the world, but gas prices are still at near record highs. the top 1% are just too greedy.

Does this list of disconnected "facts" speak to anyone else as "low information voter"? And in case you're offended by my conclusion, westnob, have you asked yourself why any of these situations exist? Allow me to parse it out for you and you can ruminate on them:

1. The Dow Jones is at it's all time highest (why? Is it because our economy is so robust? How are high prices a reflection of upper income "greed"? Is it "greedy" to pay a high price?)

2. American family income is at it's lowest in 10 years. (what collection of factors would cause this circumstance?)

3. The US produces the most oil in the world (what has occurred to allow us to increase our oil production? Has the Federal government been helpful in creating this circumstance?)

4. Gas prices are still at near record highs. (why? What causes high gas prices?)

5. The top 1% are just too greedy. (Are the other 99% less "greedy"?)

Don't just post bumper stickers. It speaks to a lack of thinking skills.

 

[maxiep]

Taking too much of the profits for themselves and not enough for their workers. Maybe I'm just jaded from my own experience though.

If they're taking too much of the profits for themselves, why are stock prices at close to an all-time high?

 

[Paine Tablet]

5. The top 1% are just too greedy. (Are the other 99% less "greedy"?)

Yes, he who hoards less is invariably less greedy. What you are doing is assuming that everyone wants to be at the top. I think it just might be true that the hardest workers out there(your valuation of the 1%) are also the among the most pathological. Pathologically avaricious for matters of status and power.

 

[Eastoff]

Here are my responses.

1. I don't know much about the stock market.

2. Wages were being cut back because of the recession, but are slow to follow the rebound.

3. Technology has allowed for new access to new types of oil reserves and the federal government has issued permits.

4. China

5. no, but there should still be limits.

Don't just post bumper stickers. It speaks to a lack of thinking skills.[/QUOTE]

 

[Eastoff]

If they're taking too much of the profits for themselves, why are stock prices at close to an all-time high?

a false bubble? Ridiculously low interest rates? I answered this in the other response. If your point is that "I don't know enough about the stock market to make statements about the market being 'too high,'" then I guess we're at an impasse.

 

[Eastoff]

How much is "too much"?

Our GDP is at an all time high, yet poverty still exists. Clearly "trickle down economics" is failing the poor and middle class.

e: sorry I forgot to actually respond. 10000x the minimum wage is too much. (that would be 150,000,000$/yr)

 

[Denny Crane]

Our GDP is at an all time high, yet poverty still exists. Clearly "trickle down economics" is failing the poor and middle class.

e: sorry I forgot to actually respond. 10000x the minimum wage is too much. (that would be 150,000,000$/yr)

Our GDP is higher by the $1T+ that Obama borrows every year. It's really 6.25% less, and flat or lower than it was after the recession's deepest point.