Oldmangamer_73 :
ok.
"The United States did not use an income tax until 1861, as a temporary measure to help finance the Civil War; that tax was repealed in 1871, and no income tax was levied until 1913. From an initial top rate of 7% in 1913, the top rate rose to 77% by 1918 to help finance World War I. The top rate fell to 25% after the war, from 1925 to 1928, but peaked at 94% in 1944 and 1945, and it remained above 90% until it was reduced to 70% by 1964."
And as I stated, these didn't affect the BULK of Americans, they affected the most wealthy. Since then the funnel from the top has only further extended the gap between the richest and poorest.
riser :
Regarding the so called 1% - How can you compare a very few people against tens of millions of people? The law of averages will hose up that comparison all day long.
If we want to compare on the scale of 1%, every percent should be broken down. What are those in the 98 percentile making? If I recall the 1% consistented off less than a thousand people out of over 300 million people.
1.)They are the few people who have a very high level skillset to do what the do.
What about the 53%? The people who actually pay taxes.
Regarding stagnent pay, against inflation, yes, it isn't really changing. People make more money, inflation goes up to counter paying higher salaries. It really is very common.
I don't blame the so called 1%. I do not consider myself in the 99% or the 1%.
Government is printing money creating borderline hyper inflation. Our debt is unsustainable.
Liberal companies like GE and Pepco Holdings who are heavily backed by the US government paid ZERO dollars in Federal Taxes last year. Both have record profits. They promote the 'green' agenda and therefore are exempt from taxes. 2.)Then you look at Big Oil companies who all paid their fair share in taxes. Yet, the so called 99% want those big corporations to pay their fair taxes? They don't, they won't. Who controls that? The government.
Every basic cost we have is based off the cost of producing something. The more the production costs go up, the higher the cost to the consumer. Thus the assembly line was born to reduce cost by increasing productivity. That made an automobile very affordable to many people. Today we are far more efficient, produce more with less workers.
Government is the root cause of inflation. Inflation is actually good for the government. As people get small pay raises, that money comes from somewhere -> the consumer in paying more.
McDonald's, a year or two ago reduced the size and/or quantity of nuggets in their dollar value from 3 nuggets to 2. The cost stayed the same. Minimum wage went up, the cost stayed the same technicall, but only two instead of three. A lot of people were upset. This was directly related to the cost of minimum wage going up. People are getting paid more, but everything else changed with it. This would result in stagnant wages I suppose.
3.) As for the 1%. What's the big deal? I know several people who make a lot of money. I wouldn't, couldn't do their job for that money. They're not all sitting on golf courses and drinking martinis all day. These people work very hard and sacrifice much of their lvies to do what they do. A company on the other hand needs a strong leader and the cost is priceless for that.
4.) Again, we are comparing a very, very few people against the masses. It is a stupid comparision used to anger a mob of people. If you really deep dive into the numbers you'll realize what a hoax it is and how the wool is being pulled over.
1.) The law of averages is showing that the average income of ~3000 people (the ~1%) is 185x the average of the rest of the nation. That's hardly fair by any stretch, and when I mean fair you claim that these people are the "best and brightest," a talking point slogan that's been thrown around for awhile now, yet these 1%ers are the root cause of the financial meltdown. Government deregulation, as originally facilitated by Clinton as concessions to Republicans, was an enabling mechanism along with the deregulation of the secondary market allowed casino-style gambling with the funds of the public. I use "public" as those people who lost a large portion of their own wealth due to the direct negligence of a few.
Please show me some material from the "best and brightest" that is worth their exorbitant salaries: I'm mostly focusing on the finance industry, but the salaries of CEOs in all industries has skyrocketed over the last 20 years while the average salary has completely stagnated. Now couple the profit seeking efforts of corporations and the exportation of jobs to seek lower costs of labor (which has been slowly shifting back to the US as I stated earlier), then we are left with CEOs who export jobs (manufacturing, non-finance), sue their customer base and push through legislation that stifles digital innovation (MPAA, RIAA -
Viacom's CEO just got a $50million bonus) to show profits that have done what for their companies?
2.) So big oil paid their taxes last year, and your point is? According to
Forbes, they paid last year, and the year before the paid next to nothing: That's nearly $20 billion that wasn't paid, but I guess we can all overlook that considering they paid last year. Now to move to Federal Income Tax, most oil companies pay below 20%, which is 15% lower than where they should be at 35%. So, if all of these oil companies paid their actual tax bracket rather than benefiting from tax breaks and off shore shelters, the numbers would be far heavier in your favor. However, as it sits now, you and I pay a higher tax percentage than our oil companies do.
3.) Of the 1%ers I can only think of a handful of CEOs and company leaders that truly reflect the ethics and values of the people they hire - Not that this really has anything to do with the topic, but ethics is a huge portion of business, at least it was in college. Their are many tech companies I could list here that have exceptional leadership teams and who's goal are more aligned with their workforce and not just their out-of-touch board of directors like so many of these ancient finance firms. I'm not saying that being a major decision maker at a company shouldn't pull a decent wage, but I hardly see the justification of a $50million salary (Viacom) as fair considering that the only "idea" to come out of some of these leaders is bribing politicians for toothless legislation, suing their customer base, refusing to lend money to small businesses and foreclosing on homes already free and clear, outsourcing jobs to show a profit, providing bonus' for the top 10% of a company while not increasing the wages of the average worker, etc. etc. etc.
So your anecdote is noted as being an anecdote with no real world significance other than justifying a few friends and your own conscience
4.) Show something to support this garbage statement. The very few people you speak of are the very people who are part of the problem, not part of the solution. The "best and brightest" were the ones to put us into this major economic recess and in turn has permanently funneled the wealth from the majority of the US population to the privileged few who bet against the markets, seeing the systemic failures for what they were and making boatload off of a system that our finance industry fixed, facilitated by politicians who are bought and paid for by money the help deregulate.
Oldmangamer_73 :
We're not a democracy. We're a republic.
Yes, a DEMOCRATIC REPUBLIC.
Slightly off topic but directly relating to the voting in a democratic republic,
House Speaker Zellers went on record to say that voting is a privilege and not a right, the exact opposite of reality. To go along with the very true statistics Oldman listed about the 18-29 year old demographic, would
Compulsory Voting be the answer? Sounds like it would decimate the GOP as a whole, specifically with all their underhanded schemes to limit voting, as seen in
Wisconsin and
Ohio.