Insanely Concentrated Wealth Is Strangling Our Prosperity

[ttystikk]

http://evonomics.com/insanely-concentrated-wealth-strangling-prosperity/

You want to know the reason for America's economic problems?

THIS.

It isn't war, it isn't the stick market, it isn't outsourcing, it's ridiculous levels of wealth inequality.

The kind where you have a fleet of convertible Rollers just to take the family out to dinner. The kind where you have your own hangar full of jets... And the private airport.

But rich people don't spend money. Therefore it doesn't stimulate the economy. Therefore the economy stagnates.

And somehow there 'isn't enough money' for basic services.

Look at the first chart and ask yourself how the isn't enough money.

NO ONE NEEDS A BILLION DOLLARS.

 

[SneekyNinja]

http://evonomics.com/insanely-concentrated-wealth-strangling-prosperity/

You want to know the reason for America's economic problems?

THIS.

It isn't war, it isn't the stick market, it isn't outsourcing, it's ridiculous levels of wealth inequality.

The kind where you have a fleet of convertible Rollers just to take the family out to dinner. The kind where you have your own hangar full of jets... And the private airport.

But rich people don't spend money. Therefore it doesn't stimulate the economy. Therefore the economy stagnates.

And somehow there 'isn't enough money' for basic services.

Look at the first chart and ask yourself how the isn't enough money.

NO ONE NEEDS A BILLION DOLLARS.

So hang on...

They've fleets of convertible Rollers to bring them out for dinner, private jets and private airports but "don't spend any money"??

We need to fix the taxation system to make it more progressive and pay for the policies we want introduced but you seriously need to stop hating/being insanely jealous of wealthy people and using illogical tripe to justify it.

 

[ttystikk]

Wonder why housing prices are rising, even as fewer Americans own their own home?

http://evonomics.com/when-wall-street-owns-main-street-rana-foroohar-makers-takers/

 

[ttystikk]

So hang on...

They've fleets of convertible Rollers to bring them out for dinner, private jets and private airports but "don't spend any money"??

We need to fix the taxation system to make it more progressive and pay for the policies we want introduced but you seriously need to stop hating/being insanely jealous of wealthy people and using illogical tripe to justify it.

Yep; one million dollar Rolls Royce or 40 $25k family sedans.

And if you think I'm just jealous, you're at least as stupid as I've been saying you are. After all, it's blindingly obvious you didn't bother to read the article.

This is about prosperity and stability for everyone.

How do you think Rome fell? It wasn't because they were invaded; that was the end of the process. The beginning was wealth polarization, the very thing that we see happening in this country.

 

[SneekyNinja]

Yep; one million dollar Rolls Royce or 40 $25k family sedans.

And if you think I'm just jealous, you're at least as stupid as I've been saying you are. After all, it's blindingly obvious you didn't bother to read the article.

This is about prosperity and stability for everyone.

How do you think Rome fell? It wasn't because they were invaded; that was the end of the prices. The beginning was wealth polarization, the very thing that we see happening in this country.

And we agree the taxation system needs to be fixed, but you also need to remove the envy/jealousy/hatred for wealthy people from your heart.

But at least you're consistent, someone questions something you say as "Gospel" and you don't address any of the points they made and just talk shit.

No wonder you're permanently alone, I'd say you're impossible to live with.

 

[Grandpapy]

People vs Corporations

Where did 3 trillion in off shore profits end up?

It didn't help the traffic congestion, nor give me more time for distilling values in my children.

2049 will be here before you know it. Comrade.

 

[schuylaar]

http://evonomics.com/insanely-concentrated-wealth-strangling-prosperity/

You want to know the reason for America's economic problems?

THIS.

It isn't war, it isn't the stick market, it isn't outsourcing, it's ridiculous levels of wealth inequality.

The kind where you have a fleet of convertible Rollers just to take the family out to dinner. The kind where you have your own hangar full of jets... And the private airport.

But rich people don't spend money. Therefore it doesn't stimulate the economy. Therefore the economy stagnates.

And somehow there 'isn't enough money' for basic services.

Look at the first chart and ask yourself how the isn't enough money.

NO ONE NEEDS A BILLION DOLLARS.

but they're making america great again..

 

[schuylaar]

Yep; one million dollar Rolls Royce or 40 $25k family sedans.

And if you think I'm just jealous, you're at least as stupid as I've been saying you are. After all, it's blindingly obvious you didn't bother to read the article.

This is about prosperity and stability for everyone.

How do you think Rome fell? It wasn't because they were invaded; that was the end of the process. The beginning was wealth polarization, the very thing that we see happening in this country.

I heard this morning that dems have been so marginalized it's like 1929 again! woohooooooo! .. ..wait! ..what's that?..what..what crash?!???????

 

[ttystikk]

And we agree the taxation system needs to be fixed, but you also need to remove the envy/jealousy/hatred for wealthy people from your heart.

But at least you're consistent, someone questions something you say as "Gospel" and you don't address any of the points they made and just talk shit.

No wonder you're permanently alone, I'd say you're impossible to live with.

If you'd met as many of them as I have, you'd understand why I dislike them so much.

They aren't like you and me; with few exceptions, they're far more interested in exploiting their fellow men and women.

 

[schuylaar]

No wonder you're permanently alone, I'd say you're impossible to live with.

good thing we don't need to concern ourselves with what YOU say..

 

[Justin-case]

good thing we don't need to concern ourselves with what YOU say..

Hah! Silly little girl....

 

[SneekyNinja]

good thing we don't need to concern ourselves with what YOU say..

I told you before, if there's a bad smell I'll ask your opinion...

Stick to what you're good at, skinhead.

 

[greg nr]

Well, lets look at the money they spend.

If they buy a $125M yacht, and register it in Liberia, they don't pay any US taxes, even if the ship is here year round.

If they spend $5M on a private jet, it's likely under some corporate umbrella and again, it's probably written off as a business expense and tax free.

If they buy a $2M car, same corporate protections can be had. Plus, if it's an import, few dollars stay here.

So yeah, they spend money, but they don't pay a lot on taxes doing it. Some of the money goes into the economy, but a lot doesn't. Poof.

People really need to pay more attention to this stuff, but LOOK!! SQUIRELL!!!!!

 

[SneekyNinja]

Well, lets look at the money they spend.

If they buy a $125M yacht, and register it in Liberia, they don't pay any US taxes, even if the ship is here year round.

If they spend $5M on a private jet, it's likely under some corporate umbrella and again, it's probably written off as a business expense and tax free.

If they buy a $2M car, same corporate protections can be had. Plus, if it's an import, few dollars stay here.

So yeah, they spend money, but they don't pay a lot on taxes doing it. Some of the money goes into the economy, but a lot doesn't. Poof.

People really need to pay more attention to this stuff, but LOOK!! SQUIRELL!!!!!

Is that how we measure economic data now, by how much tax is paid on the item?

You and I both know that's not true.

That's not really important though, the point was you can't say people have fleets of cars, planes and private airports and at the same time say they don't spend any money, that's just ridiculous.

 

[greg nr]

Look!! SQUIRELL!!!!

Or North Korea!! Or Russia! Or the Wall!

 

[Moldy]

http://evonomics.com/insanely-concentrated-wealth-strangling-prosperity/

You want to know the reason for America's economic problems?

THIS.

It isn't war, it isn't the stick market, it isn't outsourcing, it's ridiculous levels of wealth inequality.

The kind where you have a fleet of convertible Rollers just to take the family out to dinner. The kind where you have your own hangar full of jets... And the private airport.

But rich people don't spend money. Therefore it doesn't stimulate the economy. Therefore the economy stagnates.

And somehow there 'isn't enough money' for basic services.

Look at the first chart and ask yourself how the isn't enough money.

NO ONE NEEDS A BILLION DOLLARS.

Yep, you hate rich people! lol Well, some of them I hate, the ones buying out politicians to shift their tax burdens on the poor, to get favorable treatment at all levels of policy, and then to keep buying out those politicians to drop special taxes (Obama care subsidy tax)that was created to "help" balance out the inequalities in health care that exists today.

It's a lot different today. In the late 60's I got married and got a job for 1.50 hr. Wife stayed home with kid. Rented a two bedroom house and had money for weed and beer and we ate good. Yeah, it was in Iowa but we didn't need no welfare or shit. I had to sell my guitar but hey, growing up is a bitch. Now, my grandkids have to work two jobs and still live at home... yeah, it's fucked up and if anyone tells you different then you know they aren't in your tax bracket.

 

[Creature1969]

I like the Rome analogy.

MSM and social media are our very own Colosseum.

Keeping the people preoccupied has always worked.

I wouldn't blame concentrated wealth either though. It just works out that money is making the rules so it's easy to blame the richest people.

A great philosopher once said: "If there's a new way, I'll be the first in line. But, it better work this time."

 

[Fogdog]

Wonder why housing prices are rising, even as fewer Americans own their own home?

http://evonomics.com/when-wall-street-owns-main-street-rana-foroohar-makers-takers/

I read it

Thin on logic. Thick on rhetoric.

She cherry picked a hot market where population is growing at one of the highest rates in nation. Too many people bought homes they couldn't afford leading up to the crash. For many, renting makes more sense than buying, especially in Southern California, where houses are actually unaffordable for most. In that area, house sales are actually down compared to pre-crash numbers. Prices aren't going down because people aren't selling, which might make sense, given the number of people who are still under water in their mortgage.

Blackstone is a vampire squid that is now making a killing by buying at the worst of the crash and renting for now. They can raise rates because housing market is slow, overpriced and the population in the area is growing. They will sell when it makes sense. It's not as if we are headed into a landlord-tenant society. Housing supply always lags trends then overshoots after supply catches up with demand. If people can't afford the kinds of houses on the market right now, builders will build houses they can afford.

Home sales nationwide are down, markets are hot with homes spending less than two weeks time on market. Buyers are there, availability is not, so prices go up. This is nothing new. In a few years the situation will look different. The article is reacting to a short term situation and calling it the trend of the future. The fact that people have the money to buy is a good sign, not a bad one.

This is typical tty breathy "the world is ending" rhetoric.

 

[ttystikk]

Yep, you hate rich people! lol Well, some of them I hate, the ones buying out politicians to shift their tax burdens on the poor, to get favorable treatment at all levels of policy, and then to keep buying out those politicians to drop special taxes (Obama care subsidy tax)that was created to "help" balance out the inequalities in health care that exists today.

It's a lot different today. In the late 60's I got married and got a job for 1.50 hr. Wife stayed home with kid. Rented a two bedroom house and had money for weed and beer and we ate good. Yeah, it was in Iowa but we didn't need no welfare or shit. I had to sell my guitar but hey, growing up is a bitch. Now, my grandkids have to work two jobs and still live at home... yeah, it's fucked up and if anyone tells you different then you know they aren't in your tax bracket.

And the reason families can't do this anymore is because of the ultra rich.

I've got no problem with people making money. Just pay taxes.

 

[ttystikk]

I like the Rome analogy.

MSM and social media are our very own Colosseum.

Keeping the people preoccupied has always worked.

I wouldn't blame concentrated wealth either though. It just works out that money is making the rules so it's easy to blame the richest people.

A great philosopher once said: "If there's a new way, I'll be the first in line. But, it better work this time."

Concentrated wealth is most certainly a big part of the problem.