Wealth Distribution

I have been studying wealth distribution in America and hope you will do the same. These statistics are from Prof Bill Domhoff and can be found on his EXCELLENT website,
http://sociology.ucsc.edu/whorulesame...
Did you know?
In 2006, 400 Americans made $286 Million each in personal income and paid 17% tax. I made $80,000 and paid 36% tax.
http://www.npr.org/templates/story/st...
Issues around the question of wealth distribution in America.
1. Reagonomics
The top tax rate was lowered from 50% to 28% while the bottom rate was raised from 11% to 15% - the only time in the history of the U.S. income tax .
http://en.wikipedia.org/wiki/Tax_Refo...
2. Laffer Curve,
According to Nobel prize laureate James Tobin, "[t]he 'Laffer Curve' idea that tax cuts would actually increase revenues turned out to deserve the ridicule with which sober economists had greeted it in 1981.
http://en.wikipedia.org/wiki/Laffer_c...
3. Bush Tax cuts.
Opposing the Bush tax cuts was a statement signed by roughly 450, including ten of the twenty four American Nobel Prize Laureates alive at the time, in February 2003 who urged the U.S. President George W. Bush not to enact the 2003 tax cuts. The 450 plus economists who signed the statement believe that the 2003 Bush tax cuts will increase inequality and the budget deficit, decreasing the ability of the U.S. government to fund essential services, while failing to produce economic growth. http://en.wikipedia.org/wiki/Economis...
4. Does under taxing the rich generate economy?
Without other policy changes, tax cuts are likely to raise the federal budget deficit, which in turn is likely to reduce national saving, and hence the capital stock owned by Americans and future national income. The increase in the deficit is also likely to raise interest rates. Those changes — lower national saving and the associated increase in interest rates—create a fiscal drag on the economys ability to grow.
http://www.taxpolicycenter.org/Upload...
5. Is it Democratic?
We strive to sell the idea of Democracy across the world. Does freemarket Democracy have to include this kind of wealth inequality? Yes, I dont think the government is better at managing our money - but at least they can be voted out. The wealthy and powerful, we see now, apparently will sell out their countries, take the money and run. Even Allen Greenspan thought they would be wise with their positions (Im speaking of the screwballs that made all the $ in the recent wall street/banking disaster).

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News & Politics

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• wealth distribution

[WappsOps]

you have no right to other people's money, no matter how much they have

[HopeForPeaceNow]

"you have no right to other people's money, no matter how much they have' WappsOps

Well said!

Yet they ahev removed 13% of our total wealth.

WHO WILL STOP THEM????

[AthenasConquest]

The founding fathers left Wealth Distribution to the private sector.

[HopeForPeaceNow]

@AthenasConquest

Mercy, not sacrifice.

Follow this teaching or die.

[bluegsp]

@HopeForPeaceNow Another incoherent post from you. All you seem capable of doing is repeating what I say, then you add a bunch of gibberish. Here's an idea, try to have a "point", it makes it much more interesting for the reader.

XD

[HopeForPeaceNow]

"The Estate tax is a tax levied on you when you die, that is why it is called a "death tax" The assets that someone accumulates over their life have already been taxed and the government has no business taxing it again when you die. " bluegsp

"Do you have a point to your little quiz?"you

"Lets try your knowledge level." me

Read often?

You obviously know less than I do. Simple proof.

Now, I won't be answering you again until you give it a shot. Maybe you can answer just one.

[bluegsp]

@HopeForPeaceNow Show me where I said that the death tax applies to 100% of us. It doesn't matter if it only effects one person, it is still an immoral tax, you stupid cow.

Do you have a point to your little quiz? or is it just more inane ramblings of incoherent thoughts.

[HopeForPeaceNow]

@bluegsp

Lets try your knowledge level. See if you can answer ever 2 or 3 of these:

Who was Bremer, what did he do in Iraq? Who was Chalabi? What was the Iraq NIE? What was the OSP? Who was Goldsmith? Who gave the PDB in 2002? What is the Gini Index? How much are derivatives worth today? Whats a credit default swap? Who is Arnell, what did he invent? Who are Wallison and Pinto? WHo coined "jobcreators"? Who is Frank Luntz? What is AEI? The CFPB?

Pick a few, if you think YOURE so smart?

[HopeForPeaceNow]

"You are a "fucking moron'" you cunt." bluegsp

Try this:

See that empty box in the right hand of your browser? It's called a search.

Type in "Estate tax" and READ.

Fool.

Death apples to 100% of us. The Estate Tax applies to 2% of us.

You are the one making a fool of yourself and I am loving every minute of exposing you lying propaganda bullshit.

Try reading. Go, now, look it up.

[bluegsp]

@HopeForPeaceNow You are a "fucking moron'" you cunt.

The estate tax is a death tax imposed when you die, that has nothing to do with the exemption amount. I don't care if the exemption is 10 billion, the principle is still the same and does not change the evil of taxing money that has already been taxed, idiot. You are the one making a fool of yourself and I am loving every minute of exposing you lying propaganda bullshit.