Wealth Inequality in America !!!

[Tag-MehirTzedek]

[Ephraim Ben Noach]

Tag, this is the same ammo the left uses against capitalists, Jews, and Zionists! If you work for it, you deserve it!

[Tag-MehirTzedek]

Tag, this is the same ammo the left uses against capitalists, Jews, and Zionists! If you work for it, you deserve it!

 Yea because the CEO works 380X more than the AVERAGE worker! REALLY?

 And these are distinct and separate thing ( Capitalists and Jews + Zionists).

 You also realize that the biggest "welfare recipients" are the super rich with BS such as "too big to fail".
 You call that "Capitalism" ?

 You are getting S$%^&ED and you are sticking up for them!

 These people MUST be willing and even forced if necessary to give back much more to the people and institutions that they are taking from (be it regular people and society, and the environment etc.)

 We need to stop with the BS we have been taught to believe.

[Kahane-Was-Right BT]

 Yea because the CEO works 380X more than the AVERAGE worker! REALLY?

 And these are distinct and separate thing ( Capitalists and Jews + Zionists).

 You also realize that the biggest "welfare recipients" are the super rich with BS such as "too big to fail".
 You call that "Capitalism" ?

 You are getting S$%^&ED and you are sticking up for them!

 These people MUST be willing and even forced if necessary to give back much more to the people and institutions that they are taking from (be it regular people and society, and the environment etc.)

 We need to stop with the BS we have been taught to believe.

Wtf?  What people and institutions are they taking from?

And have you looked at their massive tax rates?  They are giving plenty.  Govt is the biggest business which robs from all excutives directors vp's and all workers.  America's tax code is one of the most progressive in the world.  People at the top of valuable companies make the most money.  That's called capitalism which encourages competition and striving for that success.

[Ephraim Ben Noach]

Too big to fail was a progressive power grab! They should of fell! The top one percent are paying all of the bills,  and it is unsustainable!

[Tag-MehirTzedek]

Too big to fail was a progressive power grab! They should of fell! The top one percent are paying all of the bills,  and it is unsustainable!

 Yeaaa poor them. 

[Tag-MehirTzedek]

Wtf?  What people and institutions are they taking from?

And have you looked at their massive tax rates?  They are giving plenty.  Govt is the biggest business which robs from all excutives directors vp's and all workers.  America's tax code is one of the most progressive in the world.  People at the top of valuable companies make the most money.  That's called capitalism which encourages competition and striving for that success.

  Making $ is not a problem, nor is it a crime, but many of these top companies have the people at the top all giving $ to each other and then many times going bankrupt. I forgot what its called but it  is something that happens often where they themselves decide that they need a bigger pay check and then the company goes bankrupt. They are basically making the $ and taking the most from the companies and the society at large.

[Ephraim Ben Noach]

 Yeaaa poor them. 

Tag, would you like it if your bum neighbor, that didn't do anything started reaching into your pockets?

[Ephraim Ben Noach]

  Making $ is not a problem, nor is it a crime, but many of these top companies have the people at the top all giving $ to each other and then many times going bankrupt. I forgot what its called but it  is something that happens often where they themselves decide that they need a bigger pay check and then the company goes bankrupt. They are basically making the $ and taking the most from the companies and the society at large.

George Soros, Obama!

[Tag-MehirTzedek]

Tag, would you like it if your bum neighbor, that didn't do anything started reaching into your pockets?

 No. BUT it still is societies (at least in a real Jewish society) to help that neighbor out including having compassion on him/her and giving him/her/them opportunity etc.
 Also it is not a matter of having someone going into your pockets. It is the opposite because the way the economy is skewed is that it is the super rich that are in effect going into your pocket.

 What is worse when supposedly a bum goes into your pocket or a "high class" bum who has billions goes into your pocket? At whom would or should you pissed off more from?

[Tag-MehirTzedek]

Too big to fail was a progressive power grab! They should of fell! The top one percent are paying all of the bills,  and it is unsustainable!

 You contradicted yourself. Where do you think the $ went to?


 

[Tag-MehirTzedek]

    Also something to ponder-  humans are the only species (that I can think of) that for the most part work almost all day and most of the days for their sustenance. Are we lower than the animals? Just look at a lion and what it does. it hunts its prey and then relaxes.
     What are humans created for? To be (almost) like slaves? Or to ponder the meaning of life etc.
 
    Don't you wonder why prices rise in most things while paychecks are either the same or slightly higher (or even lower) for the average person? People are WORSE off. Yett they say inflation is good for the economy. My Tuchas. It is basically stealing from people who (really) worked hard for their $ (instead of just playing around with the $ and having their $ do the work for them with paid dividends).

 When the very rich buy and spend their $ it raises the prices for everything. Soo for example when you buy your house and take out a mortgage. You are most likely paying a much higher value for the house then you really should. And will for the most part have to work your @$$ off paying for your home.
 
 

[Ephraim Ben Noach]

 You contradicted yourself. Where do you think the $ went to?

It went to people and and business that support Obama's and Soro's agenda!

[Dr. Dan]

The biggest losers in society are greedy jealous materialistic individuals who show no compassion or fake compassion to the poor. That includes any individual that has billions to some individuals in the welfare class of society that get free handouts. 

[Secularbeliever]

Did you know that Michael Jordan had more basketball talent than ten million people combined.  Is that fair?

[Lewinsky Stinks, Dr. Brennan Rocks]

Nobody should get handouts, least of all those who do not deserve them.

[Kahane-Was-Right BT]

  Making $ is not a problem, nor is it a crime, but many of these top companies have the people at the top all giving $ to each other and then many times going bankrupt. I forgot what its called but it  is something that happens often where they themselves decide that they need a bigger pay check and then the company goes bankrupt. They are basically making the $ and taking the most from the companies and the society at large.

So what?   That's called an abuse of the system.  You say "many of them"     Um, ok.  There are many reputable companies who don't do that.   And the CEO's of reputable companies make plenty of money.  So what's wrong with it as long as they all play by the rules, which the vast majority do?

[Kahane-Was-Right BT]

The rhetoric in this thread is exactly the type of class warfare playbook that marxists and communists use to get tyrants into power, Tag.

[Manch]

Ah, the "we are the 99%" left-wing propaganda. What an utter nonsense! Every word, every sentence in this video is objectionable! Besides, a lot of morons extrapolate this rhetoric to "Jews"

[Tag-MehirTzedek]

So what?   That's called an abuse of the system.  You say "many of them"     Um, ok.  There are many reputable companies who don't do that.   And the CEO's of reputable companies make plenty of money.  So what's wrong with it as long as they all play by the rules, which the vast majority do?

 You really think a CEO should be making all that money. Its not a good paycheck perhaps 10X a salary. Nor even 50X. It is much much much more. Why would his work be that much more harder and more then let's say someone who works full time busting his/her b()lls.

[serbian army]

Don't have time to bold all but you get the point

General Electric
U.S. Profits: $10,460,000,000
Taxes Paid: ‐$4,737,000,000

PG&E Corp.
U.S. Profits: $4,855,000,000
Taxes Paid: ‐$1,027,000,000

Verizon Communications
U.S. Profits: $32,518,000,000
Taxes Paid: ‐$951,000,000

Wells Fargo
U.S. Profits: $49,370,000,000
Taxes Paid: ‐$681,000,000

American Electric Power
U.S. Profits: $5,899,000,000
Taxes Paid: ‐$545,000,000

Pepco Holdings
U.S. Profits: $882,000,000
Taxes Paid: ‐$508,000,000

Computer Sciences
U.S. Profits: $1,666,000,000
Taxes Paid: ‐$305,000,000

CenterPoint Energy
U.S. Profits: $1,931,000,000
Taxes Paid: ‐$284,000,000

NiSource
U.S. Profits: $1,385,000,000
Taxes Paid: ‐$227,000,000

Duke Energy
U.S. Profits: $5,475,000,000
Taxes Paid: ‐$216,000,000

Boeing
U.S. Profits: $9,735,000,000
Taxes Paid: ‐$178,000,000

NextEra Energy
U.S. Profits: $6,403,000,000
Taxes Paid: ‐$139,000,000

Consolidated Edison
U.S. Profits: $4,263,000,000
Taxes Paid: ‐$127,000,000

Paccar
U.S. Profits: $365,000,000
Taxes Paid: ‐$112,000,000

Integrys Energy Group
U.S. Profits: $818,000,000
Taxes Paid: ‐$92,000,000

Wisconsin Energy
U.S. Profits: $1,725,000,000
Taxes Paid: ‐$85,000,000

DuPont
U.S. Profits: $2,124,000,000
Taxes Paid: ‐$72,000,000

Baxter International
U.S. Profits: $926,000,000
Taxes Paid: ‐$66,000,000

Tenet Healthcare
U.S. Profits: $415,000,000
Taxes Paid: ‐$48,000,000

Ryder System
U.S. Profits: $627,000,000
Taxes Paid: ‐$46,000,000

El Paso
U.S. Profits: $4,105,000,000
Taxes Paid: ‐$41,000,000

Honeywell International
U.S. Profits: $4,903,000,000
Taxes Paid: ‐$34,000,000

CMS Energy
U.S. Profits: $1,292,000,000
Taxes Paid: ‐$29,000,000

Con-­way
U.S. Profits: $286,000,000
Taxes Paid: ‐$26,000,000

Navistar International
U.S. Profits: $896,000,000
Taxes Paid: ‐$18,000,000

DTE Energy
U.S. Profits: $2,551,000,000
Taxes Paid: ‐$17,000,000

Interpublic Group
U.S. Profits: $571,000,000
Taxes Paid: ‐$15,000,000

Mattel
U.S. Profits: $1,020,000,000
Taxes Paid: ‐$9,000,000

Corning
U.S. Profits: $1,977,000,000
Taxes Paid: ‐$4,000,000

FedEx
U.S. Profits: $4,247,000,000
Taxes Paid: $37,000,000 (a rate of less than 1%)

Total
U.S. Profits: $163,691,000,000
Taxes Paid: ‐$10,602,000,000

Just look at that combined total again.

Those 30 companies had combined profits of more than 163 billion dollars during those three years, and yet the combined net tax liability of those companies was negative 10.6 billion dollars

[Ephraim Ben Noach]

^ Right off the bat... The very first one, is in bed with the democratic party, the leftist media, and Soro's!

[Ephraim Ben Noach]

Did you two flip,  or have you always been on the other side?

[Ephraim Ben Noach]

[serbian army]

Six Waltons Have More Wealth Than the Bottom 30 % of Americans

Different people will take this different ways, but Jeffrey Goldberg tells us that six members of the Walton family (the original owners of WalMart) have more wealth than the bottom 30 % of Americans. Here’s where he says it:

In 2007, according to the labor economist Sylvia Allegretto, the six Walton family members on the Forbes 400 had a net worth equal to the bottom 30 percent of all Americans.

And given that he quotes us here at Forbes on the point, he’s almost certainly right.

The question is, what are we to make of this point? I think we all know what Mr. Goldberg wants us to make of it, it’s a telling indictment of American wealth inequality, the world’s going to the dogs and something must be done about rising inequality.

The Waltons are now collectively worth about $93 billion, according to Forbes.

Well, yes, but. Total US household wealth is in the $50 trillion (yes, trillion) to $70 trillion range. The range is depending on whether you want to take before the housing crash or in the middle of it. So the statement is that these Waltons have, between the family, 0.13% of US wealth. Which, for the people who inherited the world’s largest (well, certainly the country’s) and most successful retailer doesn’t sound like a particularly terrible concentration of wealth. It’s certainly less than John D Rockefeller had all by his lonesome when he was in his pomp.

But I think it’s possible that the comment is more revealing about Mr. Goldberg really, for as Felix Salmon points out, Mr. Goldberg himself has more wealth than the bottom 25% of Americans.

This sounds outrageous, until you stop for a second and take note of the fact that Jeffrey Goldberg, individually, has a net worth greater than the bottom 25% of all Americans.

In fact, given that I have equity in my home and no other debt than mortgage, I have, as is highly likely do all readers of these pages, more wealth than the bottom 25% of Americans added together. For as Felix points us to:

In 2009, roughly 1 in 4 (24.8%) of American households had zero or negative net worth, up from 18.6% in 2007, and 37.1% of households had net worth of less than $12,000, up from 30.0% in 2007.

Wealth is always more unequally distributed than income. By the way, it isn’t even true that all of those households with zero or negative wealth are what we would call poor either. It’s entirely possible to have no net assets while having a good income, even a high income. All you need to have is debts higher than your assets: something that will almost certainly be true of anyone with student debt and fresh out of college for example. Fresh out of grad school you might well have $100,000, $200,000 of debt, hey, possibly even from medical school you might be carrying $500,000. None of us are actually going to weep all that hard for you though, not you with that associates job at a Wall Street law firm on $100,000 or more, not a newly qualified doctor on hundreds of thousands a year.

I certainly don’t mean that all those with negative net household value are in that situation: there are an awful lot of people who are “properly” poor in the way that we all usually understand it.
But this comparison of wealth desn’t show us quite what Mr. Goldberg thinks it does. If you’ve no debts and have $10 in your pocket you have more wealth than 25% of Americans. More than that 25% of Americans have collectively that is.

That a family who have inherited the majority of one of the leading global retailers have more wealth than the bottom 30% of Americans, when compared with how high up the tree a single ten dollar bill gets you, is pretty much worthy of a heartfelt “Meh”.

Update 12/15. A Doctor writes to remind me that fresh out of medical school a doctor does not in fact earn good money. Indeed, the one who wrote to me earns $45,000 a year for after that graduation comes residency. It is only after residency that the money starts to flow. I was sloppy in the above: I knew that residency came first and that it was only after full qualification that high incomes are earned. It wouldn’t be unusual for a newly graduated doctor to be carrying $250,000 of debt (from medical school alone) and the interest on this could be another $100,000 through a three year residency (this accumulates but it is possible to defer it, payments do not have to be made during residency). Leading to that $500,000 or so total debt if, as with my correspondent, one was to become a neurosurgeon.

So I was at best sloppy and quite possibly wrong. Although, having looked it up, given that the starting salaries post residency for neurosurgeons seem to be around $400,000 I will admit to not being about to burst into tears over this.

It does raise two interesting points though. The first being that we can almost certainly put every single doctor in residency on our list of people with less than zero wealth. Those education debts are likely to swallow any assets they might have. But we don’t normally think of doctors in training as being poor really, one of the points I was making.

The other is that, well, it takes 7 years to get an MD (3 years pre-med at college, four years medical school), then 3 to 7 years residency. So someone might be 32 or so before actually earning the big bucks: and have a perhaps 25 year career after that? How does that change income inequality? When some people only earn for 30 odd years, others for 40 odd?