Debates Forum

Debates Forum

  1. Subscriberno1marauder
    Humble and Kind
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    18 Jun '19 03:151 edit
    Good news for the right wingers here who think the rich deserve the vast majority of society's wealth because they work so hard and are so obviously superior to everyone else; the net worth of the top 1% of Americans climbed about 250% in the last 30 years.

    Even better, the lazy, shiftless American workers who comprise the great majority of the bottom 50% in wealth now owe more than their assets.

    These figures come from the Fed's Distributive Financial Accounts report which is summarized here:
    http://nymag.com/intelligencer/2019/06/the-fed-just-released-a-damning-indictment-of-capitalism.html

    The findings are summarized thus:

    America’s superrich have grown about $21 trillion richer since Taylor Swift was born, while those in the bottom half of the wealth distribution have grown $900 billion poorer.

    And you can see why our right wingers here aren't crazy about this whole democracy thingy:

    Does the average American believe that, over the past three decades, our nation’s richest one percent have contributed roughly $22 trillion more to our collective well-being than the poorest 50 percent have? Does she think that the tens of millions of working-class people who spent the past 30 years cooking other Americans’ dinner, cleaning their toilets, caring for their children, harvesting their crops, ringing up their groceries — and performing the countless other poorly remunerated forms of labor that our society demands — collectively produced an infinitesimal fraction of the value that America’s corporate lawyers, hedge-fund managers, venture capitalists, specialist physicians, heirs and heiresses, and other high-paid professionals did?

    Survey data (and common sense) says otherwise. In 2011, Michael Norton of Harvard Business School and Dan Ariely of Duke University published a study on Americans’ views of how wealth was distributed in their society, and how they felt it should be distributed. They found that, in the average American’s ideal world, the richest 20 percent would own 32 percent of national wealth. In reality, the top quintile owned 84 percent as of 2011. And that share has grown in the intervening years. Today, the one percent alone commands roughly 40 percent of all America’s wealth.

    Of course, a lot of the rich's "hard work" was from passive investments like stocks, bonds and corporate equities, not from (horrors, Lovey!) actually working:

    As Vox’s Matt Yglesias observes, much of the explosion in wealth inequality that the Fed documents can be attributed to the fact that the one percent began 1989 owning a wildly disproportionate share of corporate equities and private businesses.


    How many here (besides quackquack who thinks American workers make too much money and should be paid more like say Cambodians) believe this is all hunky dory?
  2. Joined
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    18 Jun '19 03:25
    Not to worry. When the stock market crashes the rich will go into hiding while the poor masses rape pillage and plunder. Arm up people. Gonna be a fun ride
  3. SubscriberPatzering
    is getting old...
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    18 Jun '19 04:17
    Shortly after that happens I plan on opening up shop and selling home made rotgut wine and dogburgers.
    A silver dime will get yer belly full.
    I'm not responsible for any botulism.
    Buyer beware!
  4. Subscriberno1marauder
    Humble and Kind
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    22 Jun '19 22:54
    @patzering said
    Shortly after that happens I plan on opening up shop and selling home made rotgut wine and dogburgers.
    A silver dime will get yer belly full.
    I'm not responsible for any botulism.
    Buyer beware!
    This thread has been ignored, but the facts in it provide a background to some of the other ones where certain posters are lauding the wonderful capitalist system and how it just rewards those who "work harder".

    So ...................... bump.
  5. Joined
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    22 Jun '19 23:00
    @no1marauder said
    This thread has been ignored, but the facts in it provide a background to some of the other ones where certain posters are lauding the wonderful capitalist system and how it just rewards those who "work harder".

    So ...................... bump.
    Not ignored, maybe laughed at.. I'm doing just fine.. most Americans are as well.. unemployment is at a number not seen in many years, people are working.. Obama told us the days of high GDP were over, what a freak show he was... Trumps magic wand works fine.. Thank you Donald Trump.... for having faith in your country, and standing tall to defeat crooked Hillary Clinton. God Bless American.. land of the free because of the brave..
  6. Joined
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    22 Jun '19 23:03
    @kquinn909 said
    Not to worry. When the stock market crashes the rich will go into hiding while the poor masses rape pillage and plunder. Arm up people. Gonna be a fun ride
    If in fact things go south, we Americans will weather another storm, and build this country back up again, it's what we do... get it?
  7. Subscriberno1marauder
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    22 Jun '19 23:16
    @tobias9122 said
    Not ignored, maybe laughed at.. I'm doing just fine.. most Americans are as well.. unemployment is at a number not seen in many years, people are working.. Obama told us the days of high GDP were over, what a freak show he was... Trumps magic wand works fine.. Thank you Donald Trump.... for having faith in your country, and standing tall to defeat crooked Hillary Clinton. God Bless American.. land of the free because of the brave..
    Trump hasn't done anything in two years but give a lopsided tax cut that primarily benefited the rich. We're still riding a recovery from the worst economic crisis since the Great Depression (caused by irresponsible bankers and lack of regulation) but as shown the benefits of that recovery have flowed overwhelmingly to the top wealth holders. Since the economy is based on consumption and those at the top consume less of their income percentage wise (and much of their consumption is high end luxury goods often imported), the long term prospects are decidedly dim.
  8. SubscriberSuzianne
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    23 Jun '19 00:11
    @tobias9122 said
    If in fact things go south, we Americans will weather another storm, and build this country back up again, it's what we do... get it?
    That's the plan for 2021.

    Trump who?
  9. Joined
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    81911
    23 Jun '19 01:42
    @no1marauder said
    Good news for the right wingers here who think the rich deserve the vast majority of society's wealth because they work so hard and are so obviously superior to everyone else; the net worth of the top 1% of Americans climbed about 250% in the last 30 years.

    Even better, the lazy, shiftless American workers who comprise the great majority of the bottom 50% in wealth now ...[text shortened]... ers make too much money and should be paid more like say Cambodians) believe this is all hunky dory?
    you keep referring to “working class people”. Without the top 1% they are just people. You take a huge leap into ignorance when you cant understand that.
  10. Joined
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    81911
    23 Jun '19 01:48
    @no1marauder said
    Trump hasn't done anything in two years but give a lopsided tax cut that primarily benefited the rich. We're still riding a recovery from the worst economic crisis since the Great Depression (caused by irresponsible bankers and lack of regulation) but as shown the benefits of that recovery have flowed overwhelmingly to the top wealth holders. Since the economy is based on ...[text shortened]... eir consumption is high end luxury goods often imported), the long term prospects are decidedly dim.
    “Trump hasnt done anything in two years”. LMFAO@marerider#1

    [b] IGNITING A HISTORIC ECONOMIC BOOM: President Trump’s pro-growth policies are unleashing economic growth and providing opportunities to workers across the country.

    Due to President Trump’s pro-growth policies, real gross domestic product (GDP) growth exceeded 3 percent over the last four quarters.
    Real GDP grew at annual rates of 3.4 percent in the third quarter of 2018 and 4.2 percent in the second quarter.
    More than 5 million jobs have been created since President Trump’s election and the unemployment rate remains below 4 percent.
    This is the eighth time this year that the unemployment rate has been below 4 percent.
    Prior to this year, the unemployment rate had fallen below 4 percent only five times since 1970.
    The unemployment rate for African Americans in May fell to 5.9 percent, which is the lowest rate on record.
    Asian and Hispanic-American unemployment rates have reached record lows this year.
    Initial weekly jobless claims have hit a nearly 50-year low under President Trump.
    Under President Trump, job openings outnumber the unemployed for the first time on record.
    Recently, more than two-thirds of Americans rated “now” as a good time to find a quality job, tying a record high in a poll by Gallup.
    Americans are seeing more money in their pockets thanks to the booming economy.
    In recent months, workers have seen their largest nominal year over year wage growth in nearly a decade.
    In 2017, real median household income rose to a post-recession high.
    President Trump’s policies are helping to lift Americans out of poverty.
    African-American and Hispanic-American poverty rates reached record lows of 21.2 percent and 18.3 percent, respectively, in 2017.
    Since the election, 4.6 million Americans have been lifted off of food stamps.
    Consumer confidence has soared under President Trump, recently reaching an 18-year high.
    President Trump is delivering on his promise to bring back American manufacturing.
    The National Association of Manufacturers’ Outlook Index had the highest annual average in its history over the past year.
    Manufacturing added 284,000 jobs in 2018, the most added in a year since 1997
    Small Business optimism jumped to a record high under President Trump, according to a survey by the National Federation of Independent Business (NFIB).
    The NFIB’s Small Business Optimism Index broke a 35-year record in August.
    President Trump signed the Tax Cuts and Jobs Act into law, ushering in the largest package of tax cuts and reforms in American history.
    These tax cuts are delivering real results for American families and workers.
    More than 6 million workers received tax cut bonuses and benefits.
    More than 100 utility companies have announced lower rates.
    President Trump is ensuring American workers receive the training and education they need to compete in today’s economy.
    President Trump signed an executive order establishing the National Council for the American worker.
    More than 185 companies and associations have signed our “Pledge to America’s Workers,” promising more than 6.4 million new training and career opportunities.
    The President signed legislation that reauthorized the Carl D. Perkins Career and Technical Education Act, making more than $1 billion available for career education programs.
    President Trump has prioritized the economic empowerment of women.
    The women’s unemployment rate recently reached its lowest rate in 65 years.
    The Small Business Administration lent approximately $500 million more in capital to women-owned businesses in 2017 compared to 2016.
    The Administration helped launch the Women Entrepreneurs Finance Initiative, which could leverage more than $1 billion to support women entrepreneurs.
    ROLLING BACK RED TAPE: President Trump is rolling back costly regulations that have burdened hardworking Americans and stifled innovation.

    President Trump has followed through on and exceeded his promise to roll back two regulations for every new one created.
    President Trump’s Administration surpassed the 2:1 ratio in 2018, eliminating 12 regulations for every new one in 2018.
    In 2017, the Trump Administration eliminated 22 regulations for every new one.
    Since taking office, President Trump’s deregulation efforts have achieved $33 billion in regulatory savings.
    In 2018, these efforts alone delivered $23 billion in benefits to American families and business owners.
    President Trump has signed 16 Congressional Review Act resolutions into law, eliminating burdensome Obama-era rules and regulations.
    President Trump announced U.S. withdrawal from the Paris Climate Agreement, which would have harmed America’s economy and cost American workers millions of jobs.
    President Trump signed an executive order to streamline the permitting process for infrastructure projects with a goal of cutting approval time from up to 10 years to an average of 2 years.
    President Trump signed legislation to roll back burdensome Dodd-Frank regulations that harmed community banks.
    NEGOTIATING BETTER DEALS FOR THE AMERICAN PEOPLE: President Trump is negotiating fair and balanced trade deals that protect American industries and workers.

    President Trump negotiated a new trade agreement between the United States, Canada, and Mexico to replace the disastrous and outdated North American Free Trade Agreement.
    Once enacted by Congress, the United States–Mexico–Canada Agreement (USMCA) will better serve the interests of American workers and businesses.
    USMCA will incentivize billions of dollars in auto and auto parts production in the United States and create a freer and fairer market for American agriculture.
    USMCA also includes the strongest-ever provisions on labor, environmental, digital, and intellectual property protections to reflect the realities of the 21st century economy.
    The President renegotiated the United States–Korea Free Trade Agreement to preserve and grow jobs in the American auto industry and increase American exports.
    The United States and Japan are set to begin negotiations on a United States–Japan Trade Agreement.
    President Trump is establishing a new trade relationship with the European Union (EU), working toward the elimination of tariff and non-tariff barriers to transatlantic trade.
    President Trump has established a Trade and Investment Working Group to lay the groundwork for post-Brexit trade with the United Kingdom (UK) and has notified Congress of his intent to negotiate a free trade agreement with the UK.
    This year, President Trump filed a withdrawal notification with the Universal Postal Union, launching a one-year negotiation to secure fair international postal rates for American mailers.
    President Trump has expanded market access for American agricultural producers.
    Argentina has opened to American pork and beef, Brazil to American beef, Japan to lamb and Idaho chipping potatoes, South Korea to American poultry, and more.
    The Administration authorized $12 billion to aid farmers affected by unfair retaliatory tariffs.
    The Trump Administration has begun the process to expand the sale of E15, or gasoline containing 15 percent ethanol, to year round.
    Under President Trump, the United States will no longer accept bad trade deals and unfair trade practices that harm American workers and industries.
    One of the President’s first actions after taking office was withdrawing the United States from the terrible Trans-Pacific Partnership, which incentivized outsourcing.
    In 2017, the Administration oversaw 82 antidumping and countervailing duty investigations.
    President Trump is holding China accountable for its unfair trade practices, such as the theft of intellectual property, by imposing tariffs on $250 billion in Chinese goods.
    Following President Trump’s successful meeting with President Xi in Buenos Aires, both agreed to conduct negotiations over 90 days to address the United States concerns.
    American steel and aluminum jobs are coming back following President Trump’s tariffs to protect domestic industries that are vital to national security.
    President Trump imposed tariffs to protect American-made washing machines and solar products that were hurt by import surges.
    UNLEASHING AMERICAN ENERGY😛resident Trump is rolling back costly and burdensome regulations to unleash America’s incredible energy resources.

    After years of stifling regulation under the last Administration, President Trump is unleashing America’s energy potential.
    America is the largest crude oil producer in the world and production has hit a record high.
    President Trump’s policies are helping to boost American energy exports.
    The Administration has streamlined Liquefied Natural Gas terminal permitting.
    In 2017, the United States became a net natural gas exporter for the first time in 60 years.
    American coal exports increased by more than 60 percent in 2017.
    President Trump is expanding access to our country’s abundant natural resources.
    The President signed legislation to open up energy exploration in the Alaska National Wildlife Refuge.
    In July 2018, the Department of the Interior announced it would hold the largest oil and gas lease sale in history.
    In 2017, the Administration approved construction of the Dakota Access pipeline and the cross border permit for the Keystone XL pipeline.
    The Administration issued permits for the New Burgos Pipeline that will export American petroleum products to Mexico.
    The President has ended the war on coal, cutting Obama-era regulations such as the “Stream Protection Rule” which was estimated to cost industries $81 million a year.
    President Trump is replacing the Clean Power Plan, a flawed Obama-era regulation that the Supreme Court ordered halted.
    President Trump rescinded the hydraulic fracturing rule, which was expected to cost the oil and gas industry $32 million per year.
    The Trump Administration curbed the burdensome Obama-era rule on methane, saving ...
  11. Joined
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    81911
    23 Jun '19 01:55
    a complete list is here...

    https://710wor.iheart.com/featured/mark-simone/content/2019-03-09-the-list-of-president-trumps-accomplishments-so-far/
  12. Subscriberno1marauder
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    23 Jun '19 02:24
    @mott-the-hoople said
    you keep referring to “working class people”. Without the top 1% they are just people. You take a huge leap into ignorance when you cant understand that.
    Yes, I know. According to right wingers here, nobody would work at all if it wasn't for our rich masters.

    That you are ignorant enough to believe this speaks volumes.
  13. Subscriberno1marauder
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    23 Jun '19 02:28
    @mott-the-hoople said
    “Trump hasnt done anything in two years”. LMFAO@marerider#1

    [b] IGNITING A HISTORIC ECONOMIC BOOM: President Trump’s pro-growth policies are unleashing economic growth and providing opportunities to workers across the country.

    Due to President Trump’s pro-growth policies, real gross domestic product (GDP) growth exceeded 3 percent over the last four quarters.
    R ...[text shortened]... lion per year.
    The Trump Administration curbed the burdensome Obama-era rule on methane, saving ...
    The growth rate in 2017 was 2.2% and in 2018 2.9%. https://www.thebalance.com/us-gdp-by-year-3305543

    There is nothing outstanding about that, certainly not a " HISTORIC ECONOMIC BOOM".
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