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Thread: The income distribution - is this reverse socialism?

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    Default The income distribution - is this reverse socialism?

    Since there is talk of socialism and redistribution of wealth and income every day on these boards, I was surprised that no one posted a link to this article yesterday.

    http://www.usatoday.com/story/money/...orest/2793343/

    http://sacramento.cbslocal.com/2013/...est-since-20s/

    Among the findings:
    The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years.
    In a separate analysis, Saez found the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%.

    There is also a great video of the current status of the distribution of wealth at http://www.youtube.com/watch?v=QPKKQnijnsM

    Seems like reverse socialism is going on, even under this administration. Do any of you know how much more income and wealth these job creators need before they will create jobs? Is it possible that this real redistribution, which has occurred for the last 30 years, is bad for our economy?

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    Senior Member Buzz's Avatar
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    Didn't you know that those folks have it so bad, that Atlas is about ready to shrug???
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Quote Originally Posted by Henry V View Post
    Since there is talk of socialism and redistribution of wealth and income every day on these boards, I was surprised that no one posted a link to this article yesterday.

    http://www.usatoday.com/story/money/...orest/2793343/

    http://sacramento.cbslocal.com/2013/...est-since-20s/

    Among the findings:
    The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years.
    In a separate analysis, Saez found the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%.

    There is also a great video of the current status of the distribution of wealth at http://www.youtube.com/watch?v=QPKKQnijnsM

    Seems like reverse socialism is going on, even under this administration. Do any of you know how much more income and wealth these job creators need before they will create jobs? Is it possible that this real redistribution, which has occurred for the last 30 years, is bad for our economy?
    Do you have any suggestions to combat this?
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    Of course, if you have too much money (as determined by someones opinion) you must give it to someone who has less. Simple.

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    Senior Member luvmylabs23139's Avatar
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    America’s top earners tend to be highly paid executives or entrepreneurs — the “working rich” — instead of elites who enjoy lives of leisure on inherited wealth, Saez wrote in a report that accompanied the new analysis.
    SO people sho bust their rears are rewarded. What is wrong with that as opposed to those who do nothing but leech off the few federal income tax payers?
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    Senior Member swampcollielover's Avatar
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    Quote Originally Posted by Henry V View Post
    Since there is talk of socialism and redistribution of wealth and income every day on these boards, I was surprised that no one posted a link to this article yesterday.

    http://www.usatoday.com/story/money/...orest/2793343/

    http://sacramento.cbslocal.com/2013/...est-since-20s/

    Among the findings:
    The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years.
    In a separate analysis, Saez found the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%.

    There is also a great video of the current status of the distribution of wealth at http://www.youtube.com/watch?v=QPKKQnijnsM

    Seems like reverse socialism is going on, even under this administration. Do any of you know how much more income and wealth these job creators need before they will create jobs? Is it possible that this real redistribution, which has occurred for the last 30 years, is bad for our economy?
    These "analysis" always slay me! Why are they comparing 1993 - 2000? Seems odd since we are in 2013! The reason for the 2013 growth of top earners is probably tied to the unemployment rates, but regardless this 'red hearing' should be research in context, before using it I this article. I am not sure what you mean by reverse Socialism. If Socialism is take from the rich and give to the poor. This is Obama's creed! Obama care and his whole presidency has been about taking for those who work and giving more to those who do not! That is pure Socialism. Nothing 'reversing' about that! Aside from that, the numbers used in this article are somewhat irrelevant to what is going on today. Since 9/11 and the mortgage crisis follow by the market crash in 2008/2009 none of the old rules apply!
    Last edited by swampcollielover; 09-12-2013 at 10:33 AM.

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    I'll shed light on part of the answer no one has mentioned yet. And it's the workforce participation rates, coupled with high unemployment rates. If the same number of people were counted in the workforce participation rate as they were in 2008, the unemployment rate would be above 15% today. But take a look at the demographics among young people. They aren't working. What we are about to witness, and really are beginning to witness already, is the product of extreme liberal indoctrination among out public education system. From Pre-K to College, kids have been conditioned to think a certain way. Progressive ideology has absolutely dominated academia for the past 30 years, and now we are beginning to bear the fruit of it.

    Youth unemployment is sky high. Kids are waiting to get married. 45% of teens over the age of 16 DO NOT have a driver's license and rely on a parent to drive them places. Kids are living at home longer with their parents. Young adults are waiting longer to start families. This is the product of something isn't it???? Of course it is.

    Progressive liberalism is killing this country. When people do not begin working hard when they are young, chances are, they aren't increasing their wealth like the hard working wealthy people in this country. The sense of entitlement has replaced American work ethic, especially in Americans from Generation X and younger. If you are under the age of 35, you are in this catagory. Kids today weren't raised believing in the same America the Baby Boomers were. They weren't raised with the same kind of work ethic either. They've been brought up within the progressive liberal academic institutions....aka...public schools and universities. They're brainwashed, and by and large, they're lazy.

    Step back and view your masterpiece liberals, because this is what it looks like. High unemployment, massive government programs, massive debts, fewer jobs, and just general malcontent.

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    Senior Member Franco's Avatar
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    I saw that report yesterday and didn't put a lot of stock in it. First, we are having record levels of migration to the USA of poor and unskilled. Second, maybe we should try a Free Market solution instead of the government trying to fix things and only making the matter worse. One has to look at our Tax Code that is thousands of pages only because of lobbyist. Eliminate the Tax Code and implement a Fair Tax system and the gap will narrow!
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Quote Originally Posted by Henry V View Post
    Since there is talk of socialism and redistribution of wealth and income every day on these boards, I was surprised that no one posted a link to this article yesterday.

    http://www.usatoday.com/story/money/...orest/2793343/

    http://sacramento.cbslocal.com/2013/...est-since-20s/

    Among the findings:
    The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years.
    In a separate analysis, Saez found the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%.

    There is also a great video of the current status of the distribution of wealth at http://www.youtube.com/watch?v=QPKKQnijnsM

    Seems like reverse socialism is going on, even under this administration. Do any of you know how much more income and wealth these job creators need before they will create jobs? Is it possible that this real redistribution, which has occurred for the last 30 years, is bad for our economy?
    Hard to tell where you stand here. In every job setting there is always 1 who works harder, longer, or smarter than the rest. By that simple fact they should make more, be it a group of 10 or 100 or 1 billion, just the way it is and should be. Every one should try to be the #1 and not the rest.

    Sometimes money begets money, unfortunately evolution only selects for successful reproduction, not commons sense or the ability to make and keep wealth. If people that are in the upper income brackets continue to have fewer and fewer children than the rest of the population you could extrapolate that that the divide will naturally continue to grow. I do not see reverse socialism at work here, in fact quite the opposite.

    The problem with waiting for the so called job creators to create jobs is where are their incentives to do so. They will only create jobs for the opportunities to make more money for themselves, and then be criticized for doing so. The masses need to learn how to create their OWN jobs, not look up and say give me.

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    Quote Originally Posted by Franco View Post
    .................................................. ..............................we should try a Free Market solution instead of the government trying to fix things and only making the matter worse. One has to look at our Tax Code that is thousands of pages only because of lobbyist. Eliminate the Tax Code and implement a Fair Tax system and the gap will narrow!
    Ditto ! Good post..........
    charly

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