Skip to comments.GAP BETWEEN SUPER RICH 0.1% AND POOR GROWS
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 ...
Well, OF COURSE!
That’s the beauty of capitalism, isn’t it?
There is a crowd out of those who ‘create value’ by those who ‘capture value’.
Real growth comes from the creation/production of products.
And we should care because?
Actually this is always true under communism eventually only their cronies are rich.
You know this is just setting the stage for Elizabeth Warren types to seize complete control of the Democrat Party, don’t you?
In the O admin, “trickle up” starts at the bottom of the 1% and moves upward.
I know his policies have definitely made me “poorer”.
That gap has been “growing” for at least the last 500 years and will continue to do so.
Damn Koch brothers!
GAP BETWEEN OBAMA FINANCIAL SUPPORTERS AND OBAMA VOTERS GROWS
Super Rich love socialism, it keeps out their competition.
If the rich keep stealing money from the poor people, pretty soon they’re gonna run out.
Aint that the truth, and most likely by design.
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.
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.)
Me too. I can directly attribute about $3400 in extra taxes to 0’s healthcare law.
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.
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.
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.”
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.
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
News flash - That will happen no matter who’s president. So what?
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.
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.
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.
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.
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.
Damn those poor people. They just won’t help themselves and keep up their share of the burdens
That's Common Core math. It's actually 9,975,000.