More Inequality Statistics

[RooseveltTruman]

I was originally trying to assemble, in one post, a number of statistics regarding wealth inequality, transfer of wealth, harm of deregulation, etc (that can be found here: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2092623). Since, unfortunately, that post has now been "archived" (I didn't know that could happen), I'm precluded from posting on it. In lieu of that, I'm forced here. So here are a few more:

- http://www.huffingtonpost.com/cenk-uygur/the-big-republican-lie-on_b_752078.html This Cenk Uygur article is chock full of good statistics. Specifically, this factoid: Since 1980, the average after-tax income for the top 1% of this country has risen by 281%. (http://www.cbpp.org/cms/index.cfm?fa=view&id=3220)

- Here's a recent Alternet article that's chock full of statistics to make your brains explode. http://www.alternet.org/occupywallst/152811/the_shocking%2C_graphic_data_that_shows_exactly_what_motivates_the_occupy_movement_/

- The Cenk article also makes the argument that high taxes encourage businesspersons to reinvest their money in their businesses,rather than take it out as income. He explains:
But now that I am a small business owner I get it. You see if taxes are low, like 20 percent, as a partner in my small business I am motivated to take out our profits as income for myself. Let's say my share of the business led to $100,000 in profits. If taxes are 20 percent, I pay $20,000 and keep $80,000. I can live with that split.

But what happens when taxes are high? If I have to pay 60 percent, then I'm left with only $40,000 and the government takes $60,000. That sucks. I don't want to "lose" all that money. So, what do I do instead? I re-invest it in the business, so I don't have to pay taxes!

- Politifact smacking down the notion that "Every time we've cut taxes, revenue has increased": http://www.politifact.com/truth-o-meter/statements/2011/apr/19/joe-walsh/rep-joe-walsh-said-every-time-weve-cut-taxes-reven/

- This one talks about how tax-rates (marginal, carried-interest, and effective) are at their lowest since the 1950s: http://www.politifact.com/truth-o-meter/statements/2011/jun/29/barack-obama/barack-obama-says-tax-rates-are-lowest-1950s-ceos-/

[Sparky 1]

1. Mind if I toss in a few more? Hope that's Okay.

K&R

Thanks! This is really helpful. In fact, I have long wished there were a central web site where we could all go for quick look-ups when we're arguing with Republicans. The DNC should provide it, IMHO. It would help us online, and also when we're canvassing for our candidates by phone or in person. I am sure that if we all pitched in on such an endeavor, the results would be stellar.

These are from my personal notes I use on a very well-known popular Q&A Politics board where I wish more of you would come help us -- (but I think we're not allowed to mention sites like that here?)...

Twelve Charts that Will Make Your Blood Boil
http://motherjones.com/politics/2011/06/speedup-americans-working-harder-charts

There are only 5 countries in the world with more inequality than the USA
http://www.politifact.com/florida/statements/2011/oct/14/alan-grayson/alan-grayson-says-united-states-has-fifth-most-une/

Americans who average over $1Million a year pay federal taxes at a lower rate than Americans who report hundreds of thousands fewer dollars in income. The richest of the rich, America’s top 400, paid only 18.1% of their incomes in federal taxes in 2008, the last year with stats.
http://toomuchonline.org/

In the last 25 years, America has seen 80% of economic growth going to the top 2% of Americans. By any measure, the rich have gotten richer, and the poor have gotten poorer, but that simple truth has been unaddressed.

Who Rules America? Wealth, Income, and Power
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

Very interesting charts and data here. As one fellow said, “Unbelievable...every single voter in America needs to read this and explain why they aren't outraged and marching with torches.”
http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph

If you aren't in the top 1%, then you're getting a bum deal and you shouldn’t vote Republican.

http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4#if-you-arent-in-the-top-1-then-youre-getting-a-bum-deal-15#ixzz16axkEQkD

Who are the 1%? (thanks to Forget War Buy More)
http://motherjones.com/mojo/2011/10/one-percent-income-inequality-OWS

From the link:
Executives, managers, supervisors (nonfinance) = 31%
Medical = 15.7%
Financial professions = 13.9%
And so on…