Young Turks: Graphs - Rich Vs Middle Class & Poor!

[CherylK]

Run time: 04:43 https://www.youtube.com/watch?v=VnVJAkhGyjQ   Posted on YouTube: June 19, 2010 By YouTube Member: TheYoungTurks Views on YouTube: 7111   Posted on DU: June 21, 2010 By DU Member: CherylK Views on DU: 2687

 

[Chisox08]

1. I don't see anything changing any time soon

[sasquuatch55]

11. Trickle down is only relevent to urination!

nt

[Chisox08]

12. and we are still getting trickled on

[OhioChick]

2. K&R n/t

[jwirr]

3. The middle class has never been able to see this. I realized this in

the 70s already. Many of the middle class think they are the rich and have no interest in being seen as poor. I would set in meetings and listen to middle class people talk about the taxes on the rich as if it was something that applied to them. Not once did they understand that they are one step away from being poor and have very little hope (the lottery) of becoming rich. It serves the purpose of the rich to keep a wedge between the two groups.

[20score]

4. K&R!

[JDPriestly]

5. Bill Gates, Steve Jobs, most of our great scientists -- all middle class.

The children of the very, very rich 1% contribute relatively little in terms of innovation, scientific discovery, and really productive things. There are a few exceptions. But the heirs to the very, very top 1% just scoop in the money and do what their friends and family have always done. The innovators in general are people from the middle class.

We should tax inheritances to the hilt.

[Red Knight]

6. The problem

The rich no longer operate within borders. It's a multi-national globalized world.

They don't CARE what happens to this country. They will drain its wealth and move on to the next place. It doesn't matter what they leave behind. It doesn't matter if they suck it dry.

On top of that the middle class is woefully brainwashed and ignorant to their plight.

Just last night I had to hear for the four hundredth time from a fellow employee how the poor should stop asking for handouts. If we just cut the welfare queens off--everything would be fine. I explained that he should be more concerned about the money headed in the other direction--the wealth transfer to the top--the real problem--and that destrying safety nets could hurt HIM someday.

At that point his eyes glossed over and he lost interest in the topic.

There is this deeply entrenched meme that the middle class holds to look at those beneath them as the cause of their problem--not up.

This is just the way the ruling class likes it.

We don't stand a chance.

[Capitalocracy]

7. I loved this segment! Look at the second graph...

The two lines, the top 1% and the bottom 80%, are almost a mirror image. When one goes up, the other goes down. Why is that? Because they're taking that money FROM YOU.

K&R

[90-percent]

8. Counter point

My rightie friends also tell me that the wealthy pay most of the taxes. How does that happen to graph out, anyway?

Just wondering, not trying to be contrary or anything.

-90% Jimmy

[fascisthunter]

10. they pay more due to their income being much more that everyone else's

people are taxed based upon their income... it's called progressive taxation. The more you make, the more you pay in taxes comparably to all others. Since we all pay into the system we have and man is equal by law, we all take part ownership of this country, our shared commons. Since one accrues such a massive amount of wealth from said "commons" one should pay more than say a janitor, since the janitor makes much less. It's a very fair system, however it has been tinkered with so much, it no longer resembles progressive taxation. The wealthy pay very little in comparison to what they paid in say the 1950's.

So when someone claims taxes is an impediment to progress itself, let them know that history has already proven them wrong. Since the wealthy have been paying less taxes since the 1950's, why isn't the economy doing well? It's because taxation does not impede "progress", however paying less taxes does very well for a select few. In a democracy, that's very dangerous, because wealth can be used to influence a government much more than any other single, yet equal citizen of this country. One vote should equal one vote and that's all. We now see money in politics, and it's just about destroyed the process in which we vote for Representatives and Presidents.

[unpossibles]

18. the most recent "stat" I hear from them is how half of the country "pays no taxes"

which is wrong when you think that they mean income tax, but forget the many other taxes. And it's hard to feel sorry for a segment which owns most of the wealth (as a factor of GDP) paying a similar amount in taxes. Our system is not as progressive as the Republicans make it sound at all, and that does not even include the money that the super rich have invested overseas, in illegal black markets and tax shelters, etc.

The smartest (and most evil and long-lasting) thing the GOP did was to rebrand itself to appeal to make people who are poor but either want to be rich or think they are fight against their own best interests so that the rich could get richer. The evidence is all around us, yet so many still don't even see it. I hear people who are barely middle class complain about the unfairness of our tax system, of the inheritance tax, and many other things which favor a select few of the elite. They fight tooth and nail for their own shackles.

[fascisthunter]

9. very good post! Very informative and easy to understand!!!

so many in this country just don't know...

[scentopine]

13. Does anyone know where to get a copy of the data? -nt

[ihavenobias]

15. Unfortunately no.

I asked him after the show today before he ran out but long story short it wasn't any one major article from the WSJ or HuffPo (etc.) and he doesn't have the info handy.

But if someone wants to do some Google searching and share the links, that would be great.

[jotsy]

22. Perhaps not these graphs specifically but...

look into the work of Richard Wolff, economics professor at UMASS. He did a televised lecture called 'Capitalism Hits the Fan', which I caught just the tail end of on LinkTV. Another good source on this kind of stuff is David Kay Johnston, who wrote a series of articles in June, 2005, key word here is hyper rich.

[peacetalksforall]

14. Well done. Cenk is the best. Can he post them for copying?

[Enthusiast]

16. That was well done, Cenk.

I'm going to forward that link to my brother. We were talking about this very thing today.

[dotymed]

17. If we could return to the tax system of the 50's

or even the 70's (pre-Reagan), our nation could begin to thrive once again. Of course, with the wealthy in the places of power, WE would have to Force this proven "change."
Currently, our "top tax" begins and ends at the $250,000 mark. How insane. We have billionaires being taxed at the same rate as "thousand-aires."
Of course, pre-reagan, the progressive taxes continued. The more you made, the higher your taxes. Wow, a system that made sense and allowed people the possibility of improving their lot in life.
It used to be a point of honor among the wealthy. They could brag about how much money they paid in taxes and how much they helped our economy. Many of the wealthy today, protest that their taxes are too low and that abolishing the inheritance tax (death tax to RW'ers), is a crazy idea because it only affects estates after many many (not sure exactly) millions of dollars. It is in the neighborhood of 200 million before the inheritance tax kicks in. How many families (percentage) would that affect?
Unfortunately, since Reagan (and his handlers), our previous progressive tax system that worked very well, is now bullshit. :wtf:

[MODem75]

19. Trickles down like a golden shower.

[DRex]

20. Biiiig K&R....

the odds are stacked against us.

[ejbr]

21. k & r n/t