Wealth Distribution - shocking truth from the enemy camp

[electropop]

According to the Chicago Federal Reserve (not exactly a pinko outfit), the top 10% of the wealthy hold 72% of the assets (my math, derived from Table 4, bottom right corner).
http://www.federalreserve.gov/pubs/bulletin/2009/pdf/scf09.pdf



Total Wealth Owned by Class (Wealth Percentile)
Net Wealth %ile    1998      2001      2004      2007
 0.0- 24.9        -0.17%     0.00%    -0.08%    -0.10%
25.0- 49.9         3.17%     2.78%     2.62%     2.60%
50.0- 74.9        11.35%    10.50%    10.32%    10.18%
75.0- 89.9        16.99%    16.97%    17.54%    15.73%
90.0-100.0        68.65%    69.75%    69.60%    71.60%


From these data, I plotted class wealth on the chart above. During the Bush era, the government's policies redistributed wealth upward, and the last two years (believed to be an acceleration of this trend) are not shown yet. Note that the bottom 25% is not even visible (if you look very closely you will see a thin negative bar below the axis). By any reasonable moral code, this is a national obscenity. The parasite class is stealing from us and they are getting better and better at manipulating our legal and financial systems to facilitate the theft. Worse yet, they have manipulated their gullible base into believing that this is a good thing!

[grantcart]

1. If your customers don't have any money you aren't going to be able to sell them anything

[electropop]

2. But you can still enslave them and benefit from their labor

[grantcart]

4. but that is, in the end a lot less profitable.

By reducing their percentage of the pie the pie would grow much larger and, ironically, their smaller percent would result in a larger net amount.


Also a larger pie would end up with better government revenues, reduction of government debt and more stability.

[electropop]

5. People at that level of greed are too mentally ill to see this.

It's more important to have more than your neighbors, than to have more on an absolute scale.

[notesdev]

7. Slave labor is very profitable

At least from the point of view of the individual slaver. Same production, little or no labor cost.

But when you scale it up, yes you get the problem that if everyone is at the level of slave labor, no one is left to buy the products that the labor is producing.

[sinkingfeeling]

3. What I noticed is the drop in the 'middle class' 50-89.9 percentile. Add '08 & '09, and

we're witnessing the elimination of middle class America.

[clarence swinney]

6. RAPE OF MIDDLE CLASS

EMPIRE DESTRUCTION

1980 to 2007

20 YEARS OF 3 CONSERVATIVE PRESIDENTS
18 years Conservative Senate
12 years Conservative House
6 years Total Conservative Control

Redistribution of Wealth to top 20%.

Folk! It is downhill slide for Middle Class.

FACTS---numbers rounded-

1946--1% owned 30% of Total Wealth

1980—20%--a 33% decline due to Estate Tax and High Top Income Tax Rate.

thence cometh conservatism

1989-36%

80% Increase in 8 years of Reaganism

2007--20% owned 93% of Total non home Financial Wealth

80% owned equity in homes.

Most major corporations are owned by WALL STREET RICH MEN CASINO

Five Wall Street Banks own 75% of all Bank Deposits in America. 5.

Think that is not POWER???

In 8 years of Bush with 6 years of Total Control

They (wall street rich) created a Net New Jobs of 3000 per month.

Why? That is NET. You take the new jobs created and subtract the ones sent to China, etc

3000! Wow!

Bush took over after Clinton had created 237,000 Net New Jobs per month.

Clinton left Bush a spending of 1830 B Per Year.

Bush doubled it to 3600 B.

Bush inherited a 5800B Debt from Clinton. He took it to 11,500B

20 years of 3 conservative presidents did this horrible thing.

Took the Debt of less than 1000B after 200 years and added on 8000B.

In 2009 they are spinning big time to blame Obama for huge debt.

Conservatives will spend millions to coverup their Big Recession.

Much of that 8000B Debt add-on went to WALL STREET GAMBLERS.

The people do not know what has happened to them.

Right Wingers yell Rich Pay most of taxes.

Income Taxes!Yes! They have most of the Income.

Yet! Conservative transferred much of taxation from Rich to Middle Class. Reagan voiding REVENUE SHARING a disaster for Middle Class where taxes were transferred from Rich Income taxes to Middle Class in State and Local Taxes. Was it by design?

Was it a Designed Act of taxation transfer by Conservatives.

In 2008 the Middle Class paid 30% of nominal Income in Federal-State-Local Taxes. Top 10% paid 30% also. Progressive tax system?

Social Security Tax Increase in 1983 was it designed to hit the Middle Class and ease on the rich?

Greenspan + Reagan. 6.2% Tax on Middle Class. One earns $50,000 pays 6.2%. Earns $1,000,00 pays 6.4%. Earns $10,000,000 pays 1/10th of 1%. By design to keep rich rich?

Was Destruction of S&Ls a deliberate act of wealth transfer from 400 local investors to individual Rich on Wall Street?

Key actor Michael Milken became a Multiple Billionaire with income of 550 Million in one year from raiding S&L deposits (plus) for his Rich Corporate Raiders on Wall Street.

Raiders like Perelman and Ichan became multiple Billionaires.
Sweat of Brow? Ho Ho.

Bush I had to borrow 140 Billion on 40 year bonds to pay for the raids on S&L's by Wall Streeters.
140B creates many Billionaires and Millionaires. Depositors money was used by those Corporate Raiders and bankrupted the S&L then the government pay off to depositors by Federal Deposit Insurance created Debt for Middle Class.

RAPE OF MIDDLE CLASS 1980-2007

Same ideology gave us Great Depression now Great Recession.

It is not a Depression due to:

Democratic Social Safety Nets such as
Social Security and Medicare

Only the uninformed vote to send conservatives to Washington.

Some type of Revolt will take place in next decade.

Democrats will continue to allow Conservatives with their huge right wing talk shows spreading lies to blame them.

Democrats need a national Megaphone informing all the people as to what has been done and how they have been RAPED by a few million RICH on Wall Street who have taken their Wealth.

I ask one thing.

PROVE ME WRONG. With numbers and facts not usual vile name calling

[e-mail]
author-Lifeaholic-Workaholic to Lifeaholic success
author-unpublished
All American Party-How Democrats created a great successful Middle Class and how Conservatives are determined to destroy it

available for 4 speeches

Lifeaholic--the Bible tells us what and Lifeaholic tells us how

Mr President-highly praised speech for sales organizations--how salesmen are fuel that runs business engines

Business Management Success Top Down
35 years in building and turning around businesses

All American Party---for Democrats stimulation
Great for fund raisers a hootenanny night of FACTS--much humor. Watch Bush riding old Spendo on his Crawford Farm.

[abelenkpe]

8. "Worse yet,

they have manipulated their gullible base into believing that this is a good thing!"


Yeah...that's the thing that really gets me.

Hopefully the tide will change sooner rather than later.

[Prometheuspan]

9. great job!

thanks, now i won't have to point this out over here.
lol

Its true, we live in a corporate oligarchy, we need to take it back.

[clixtox]

10. No kidding!

The question now has to be, is the Democratic Party today likely to make the fundamental structural changes required to turn this disaster around?

Nope!

Campaign finance reform is the basic step to have an evolutionary, rather than a revolutionary, transition to politicians representing the voters, not the greedy corporations.

Can significant campaign finance reform occur?

Seems quite unlikely...

[mother earth]

11. I couldn't agree more, I have long been saying the first thing

that needs to be tackled is campaign finance reform, without that, we the people are not represented.

[Prometheuspan]

12. ranked voting

as long as we have duopoly, we can't get outta this mess. We need to be able to vote for third parties.