Crazy Graphs: Rich Vs Middle Class & Poor

Modern Day advocates of this intellectually bankrupt strategy (primarily Republicans) will say "A rising tide lifts all boats". Interestingly, this aphorism was originally credited to JFK, who was defending a dam project. This was also a favorite quote of CitiGroup's Robert Rubin (who was also the U.S. Treasury Secretary during President Clinton)

The following video illustrates that, quite definitively, that the term 'trickle-down' is not apt. It turns out the wealth never even so much as trickled down. More than 70% of the nation's wealth is controlled by the top 10% and the bottom half of the country only has 2.5% of the nation's wealth. This is the biggest disparity of incomes since the 1920s.

Supply-Side, or Trickle-Down economics promised that by cutting taxes for the rich, the middle class would flourish. Turns out the never happened. Other graphs in this clip include a graph that compares the share of capital income earned by the top 1% versus the bottom 80%.

Description by Chris Novembrino.

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[ingestthebest]

America was founded as a republic not a democracy, its getting to the point where being a republic will not save the US from the wealthy, once US goes so does the rest.

how can you us citizens not see this, im from canada and its clear as day to me

[friedworms13]

@bluefootedpig Your an idiot. And I bet you are a Republican who doesn't have money but forms your opinion because your family is from a Republican background. Not because you want to protect your excess of money while everyone else struggles to make ends meet.

[gh13275]

Ron paul bitches.

[1Pr0digy]

@Sattack210 ur absolutely right. but i dont think that america or europe are totally screwed, if people start and get off their asses.500 years ago people were opressed, cuz they couldnt read the bible. today cuz noone got a clue of financial politics and macro economics. too bad. tyt is working in the right direction, but look at the number of views. there are way too less people watching that. even jon steward would better get more.

i'm so glad not living in the us ^^

[Sattack210]

@1Pr0digy: I think that the process is actually similar for most of the past empires... think about the brits and the spaniards of a few centuries ago...  and other factors are also similar such as arrogance, exhorbitant military expenses, fake wars, laziness of most citizens, entitlement mentality...

[1Pr0digy]

@Sattack210 i know even the span of time is way shorter but the proccess is pretty similar.

[Sattack210]

@1Pr0digy: America never achieved the size or influence of the Roman Empire, never...

[kmat1985]

@kmat1985 Correction, one was in 2007.

[kmat1985]

Those graphs were way out dated, The most recent one was from 5 years ago. The one from the "Bush Years" ended in 2002...

[1Pr0digy]

the fall of the roman empire once again

[KittenKoder]

Money does not run the world, first. It's people's actions or lack of action. Not to mention, that in spite of the numbers, we live pretty damn well in the US compared to the 1920's. Does anyone really want to go back to those eras? No internet, no computers, most of you have to work a field, etc. Seriously consider what's really happening. There are corrupt politicians you can vote out of office, but instead the majority are just sitting around bitching.

[N0N5T0P]

You were right. We have another crash now.