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GAP BETWEEN SUPER RICH 0.1% AND POOR GROWS
Breitbart/Drudge ^ | 1 Apr 2014 | Tony Lee

Posted on 04/01/2014 6:26:00 AM PDT by shove_it

The rich keep getting richer -- and the gap between the super rich and poor has widened even more under President Barack Obama.

According to a report from Sadoff Investment Research, the "average household in the top 1% pulled in earnings of $1,264,065 in 2012," which is "41 times greater than the $30,997 average income of Americans." But the top .1% did considerably better than the top 1%, posting "average earnings of $6,373,782, or 206 times the average families' income."

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: classism
The Bamster's spreading the wealth UP!
1 posted on 04/01/2014 6:26:00 AM PDT by shove_it
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To: shove_it

Well, OF COURSE!

That’s the beauty of capitalism, isn’t it?


2 posted on 04/01/2014 6:28:57 AM PDT by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations - The Acronym explains the science.)
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To: shove_it

Financialization.
There is a crowd out of those who ‘create value’ by those who ‘capture value’.
Real growth comes from the creation/production of products.


3 posted on 04/01/2014 6:29:12 AM PDT by griswold3 ("Pray for Obama. Psalm 109:8".)
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To: shove_it
GAP BETWEEN SUPER RICH 0.1% AND POOR GROWS

And we should care because?

4 posted on 04/01/2014 6:29:26 AM PDT by from occupied ga (Your government is your most dangerous enemy)
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To: Cletus.D.Yokel

5 posted on 04/01/2014 6:30:20 AM PDT by shove_it (my real nickname is Otter)
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To: shove_it

Actually this is always true under communism eventually only their cronies are rich.


6 posted on 04/01/2014 6:31:14 AM PDT by Williams (No Obama)
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To: shove_it

You know this is just setting the stage for Elizabeth Warren types to seize complete control of the Democrat Party, don’t you?


7 posted on 04/01/2014 6:31:26 AM PDT by Buckeye McFrog
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To: shove_it

In the O admin, “trickle up” starts at the bottom of the 1% and moves upward.


8 posted on 04/01/2014 6:31:57 AM PDT by dforest
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To: from occupied ga

I know his policies have definitely made me “poorer”.


9 posted on 04/01/2014 6:32:02 AM PDT by jsanders2001
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To: shove_it

That gap has been “growing” for at least the last 500 years and will continue to do so.


10 posted on 04/01/2014 6:32:20 AM PDT by circlecity
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To: Cletus.D.Yokel

Damn Koch brothers!


11 posted on 04/01/2014 6:32:42 AM PDT by rktman (Ethnicity: Redneck. Race: Daytona 500)
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To: shove_it
GAP BETWEEN SUPER RICH 0.1% AND POOR GROWS

GAP BETWEEN OBAMA FINANCIAL SUPPORTERS AND OBAMA VOTERS GROWS


12 posted on 04/01/2014 6:35:27 AM PDT by Iron Munro (The future ain't what it use to be -- Yogi Berra)
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To: Iron Munro

Super Rich love socialism, it keeps out their competition.


13 posted on 04/01/2014 6:36:01 AM PDT by dfwgator
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To: shove_it

If the rich keep stealing money from the poor people, pretty soon they’re gonna run out.


14 posted on 04/01/2014 6:37:43 AM PDT by smokingfrog ( sleep with one eye open (<o> ---)
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To: jsanders2001

Aint that the truth, and most likely by design.


15 posted on 04/01/2014 6:38:32 AM PDT by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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To: Iron Munro

CORRECTOMUNDO!


16 posted on 04/01/2014 6:39:03 AM PDT by shove_it (my real nickname is Otter)
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To: shove_it

Having income of a million dollars per year - or even six million - doesn’t make you rich. Not if your income is derived from your labor, and it’s ordinary income. In many states, you’ll only get to keep roughly half your marginal income, meaning that a million becomes a little over a half million, and even six million nets to three million, or even less, in some states.

Rich is if you have sufficient financial assets to generate a million dollars in passive income, which would be in the range of around $20 million - $25 million in investments.

It’s not what you make, it’s what you keep that makes you financially wealthy.


17 posted on 04/01/2014 6:40:10 AM PDT by sitetest (If Roe is not overturned, no unborn child will ever be protected in law.)
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To: shove_it
How does wealth accumulated by the 0.1% or 0.01% affect the quality of life of poor people?

In 2014, in the United States, poverty doesn't have much if anything to do with money. Many or most of us grew up without most of the amenities that most "poor" now have.

Even growing up without cell phones, microwave ovens and satellite TV, we had no particular propensity towards violent crime. (Which is the kind of poverty that should be the focus. Not the number of houses a 0.1 percenter has.)

http://www.heritage.org/~/media/Images/Reports/2011/09/b2607/b2607_chart1.ashx?w=500&h=536&as=1

18 posted on 04/01/2014 6:41:54 AM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: jsanders2001

Me too. I can directly attribute about $3400 in extra taxes to 0’s healthcare law.


19 posted on 04/01/2014 6:42:54 AM PDT by from occupied ga (Your government is your most dangerous enemy)
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To: shove_it
This needs to be explained with an example

Imagine 2 men, one makes 100K per year, the other makes 10K per year, and a nice house costs 50K.

The rich man can buy two houses now, the poor man has to save for 5 years.

Now, imagine inflation for a period of time DOUBLES the cost of everything. Now the rich man makes 200K per year and the poor man makes 20k, and a house costs 100K.

Notice that everything is EXACTLY the same as before- the rich man can buy 2 houses now, and the poor man has to save for 5 years.

But the rich man used to make 90K more, and now he makes 180K more. The gap between them inflated just like everything else.

But, although financially everything is exactly the same, the media libtards would say THAT EVIL RICH MAN GOT 90K RICHER.

20 posted on 04/01/2014 6:44:29 AM PDT by Mr. K (If you like your constitution, you can keep it...Period. PALIN/CRUZ 2016)
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To: Sooth2222

Excellent chart.

The only item below “stove & oven” that my family had as a young’en was a clothes washer. The definition of “poor people” has changed a lot in America just a few generations.


21 posted on 04/01/2014 6:49:46 AM PDT by shove_it (my real nickname is Otter)
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To: shove_it

One can only guess how many millions the Obamas and their friends have salted away in personal accounts for their golden years….and they will be “golden.”


22 posted on 04/01/2014 6:51:49 AM PDT by txrefugee
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To: Sooth2222
How does wealth accumulated by the 0.1% or 0.01% affect the quality of life of poor people?

If they made their money producing valuable products and services then everyone makes out. Rising tides and all that. If on the other hand, they made their money from Bankster bailouts, financial manipulations and speculations, or government contracts or rigged regualtions, then its a straight up transfer of wealth from the working public to Insiders that don't work. This also erodes the value of the currency, increases costs, and reduces the overall performance of the economy making the public poorer.

23 posted on 04/01/2014 6:56:08 AM PDT by Count of Monte Fisto (The foundation of modern society is the denial of reality.)
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To: dfwgator
"Super Rich love socialism, it keeps out their competition."

Well said, and worth repeating.

People like Warren Buffett support high taxes to hinder others in their quest to become rich

Disgusting, but absolutely true

24 posted on 04/01/2014 6:59:05 AM PDT by precisionshootist
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To: shove_it

News flash - That will happen no matter who’s president. So what?


25 posted on 04/01/2014 6:59:07 AM PDT by Cymbaline ("Allahu Akbar": Arabic for "Nothing To See Here" - Mark Steyn)
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To: dfwgator
"Super Rich love socialism, it keeps out their competition."

Big BUMP!

26 posted on 04/01/2014 7:01:09 AM PDT by jpsb (Believe nothing until it has been officially denied)
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To: jpsb

Super Rich also love to use Government to help keep out their competition.

When they pass some regulation, the motivation is for the entrenched to keep somebody else out. Regulations are meant to be nothing more than barriers to entry.


27 posted on 04/01/2014 7:03:57 AM PDT by dfwgator
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To: dfwgator

You are right more than you know. Many dismiss these headlines as liberal/dem rhetoric. Fact is, without a strong and growing middle class, America is doomed. Destroying the middle class (inflation, taxes, etc) and creating more have nots is straight from Communist playbook.


28 posted on 04/01/2014 7:11:29 AM PDT by Augustinian monk
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To: shove_it
so?

it's this to be expected?

There are a large percentage of people more than willing to sit home on their fat butts collecting welfare.

And then there are those who make the right choices and continue to do better and better.

Since the bums will always have nothing... isn't it inevitable that the gap between those who are working and growing their wealth would ... grow wider and wider?

The only way for the gap to shrink would be if everyone do well suddenly lost a massive part of their income or wealth, because the bums will always have nothing.

29 posted on 04/01/2014 7:16:11 AM PDT by TexasFreeper2009 (Obama lied .. the economy died.)
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To: shove_it

I’m amazed the average income is only $31K. For a family of four, a sole breadwinner would be at only 133% the poverty level. IOW, for most people, both parents MUST work to raise a family.


30 posted on 04/01/2014 7:24:16 AM PDT by Girlene (Hey, NSA!)
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To: Girlene

in their complete ignorance of history, 1 friend and my super lib brother are now calling themselves socialists.

property is theft , don’t you know?

needless to say I don’t discuss it, I won’t waste my time.


31 posted on 04/01/2014 7:30:06 AM PDT by Chuzzlewit
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To: shove_it

Damn those poor people. They just won’t help themselves and keep up their share of the burdens


32 posted on 04/01/2014 7:34:09 AM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: shove_it
These comparisons are so stupid. The gap between the top income and the bottom has to grow. The gap between someone earning $10 million and someone earning $25 thousand is $9,999,975. If the millionaire's income increases 1% and the lower earner's increases 100% the gap will now be $10,050,000 an increase of over $50 thousand. Now tell me who's life probably improved the most due to the change?
33 posted on 04/01/2014 8:10:27 AM PDT by CMAC51
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To: Augustinian monk
You are right more than you know. Many dismiss these headlines as liberal/dem rhetoric. Fact is, without a strong and growing middle class, America is doomed. Destroying the middle class (inflation, taxes, etc) and creating more have nots is straight from Communist playbook.

Yup ....

You are describing knee jerk reactions by those who are in denial about the destruction of the middle class.
34 posted on 04/01/2014 9:21:43 AM PDT by khelus
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To: dfwgator
Super Rich love socialism, it keeps out their competition.

Kudos

Counter intuitive and absolutely true.
35 posted on 04/01/2014 9:24:41 AM PDT by khelus
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To: griswold3
Financialization.
There is a crowd out of those who ‘create value’ by those who ‘capture value’.
Real growth comes from the creation/production of products.


Great description of what has been going on.
36 posted on 04/01/2014 9:30:13 AM PDT by khelus
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To: CMAC51
The gap between someone earning $10 million and someone earning $25 thousand is $9,999,975.

That's Common Core math. It's actually 9,975,000.

37 posted on 04/01/2014 10:29:50 AM PDT by petercooper ("I was for letting people keep their health insurance, before I wasn't". --- Barack Obama)
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To: Sooth2222
71% of the poor have VCRs? OMG! How awful. Do they still make video cassettes? Obama must do something about that.

-PJ

38 posted on 04/01/2014 10:33:06 AM PDT by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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