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Old 03-04-2013, 06:51 PM   #43
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Remember the ultra rich got that way on our backs and with lawyers who find "loop-holes" to keep all of it.....
Wow
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Old 03-04-2013, 07:06 PM   #44
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Wealth is not "distributed" it is earned. I got where I am, where ever that is and it's not "wealthy" by busting my butt working, doing without, saving, and investing.
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Old 03-04-2013, 07:13 PM   #45
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Generally it's misleading to view accumulation of wealth as "taking from someone". An economy is about money circulating. Money is not like fuel - gasoline is destroyed when used, but money most certainly is not.

Every transaction - every dollar in a transaction - is simultaneously "spending" and "income" (one person spends it and another person receives it). Why do we rail about government spending rather than citizen income???

But the average dollar that is (temporarily) in the possession of a low wealth person circulates faster than the average dollar possessed by a wealthy person, and our economy would tend to grow faster (money circulate faster) if wealth were spread out a little better.

For example the non-partisan Congressional Budget Office found that every dollar "spent" on unemployment benefits added about $2.50 (as best I recall) to our GDP while each dollar of the 2001 tax cuts (most of which went to the wealthy) produced less than $1 GDP growth (again to best of my recollection - the numbers may be a little off but unemployment benefits performed much better).
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Old 03-04-2013, 07:13 PM   #46
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Wealth is not "distributed" it is earned. I got where I am, where ever that is and it's not "wealthy" by busting my butt working, doing without, saving, and investing.
Cat320 you are wrong. You did not earn that, somebody else did that. You did not build that, somebody else did that. You should do your patriotic duty and turn over all your assets to someone who can distribute it like it was meant to be.

Francesca wants most of it.

Don. Take what I have and then run faster than 2,200 feet per second.
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Old 03-04-2013, 07:16 PM   #47
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Just as a point of fact, "wealth" does not include pensions or the value of Social Security. If you don't really think there's wealth there, you are off by many trillions and trillions of dollars.

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Old 03-04-2013, 07:26 PM   #48
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Sits back and bits tongue. Just cant say here what I would like.
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Old 03-04-2013, 07:29 PM   #49
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Waaay back when I was in college, a professor said that economists had calculated "redistribution of wealth" equally among every U.S. citizen on day one, would result in a return to the former wealth structure in one year. Capitalism at work.
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Old 03-04-2013, 07:37 PM   #50
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Waaay back when I was in college, a professor said that economists had calculated "redistribution of wealth" equally among every U.S. citizen on day one, would result in a return to the former wealth structure in one year. Capitalism at work.
I think we went to the same school.

Those with do, those without complain.

I have neither a great wealth or a wish to have a great wealth. Although I do play the lottery scam.
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Old 03-04-2013, 07:44 PM   #51
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Wealth is not "distributed" it is earned. I got where I am, where ever that is and it's not "wealthy" by busting my butt working, doing without, saving, and investing.
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Old 03-04-2013, 07:47 PM   #52
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I didn't see this posted anywhere in my feeble search attempt so here it are for whatever its worth.

http://mashable.com/2013/03/02/wealth-inequality/




Excellent info.

Thanks for posting.
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Old 03-04-2013, 08:00 PM   #53
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For example the non-partisan Congressional Budget Office found that every dollar "spent" on unemployment benefits added about $2.50 (as best I recall) to our GDP while each dollar of the 2001 tax cuts (most of which went to the wealthy) produced less than $1 GDP growth (again to best of my recollection - the numbers may be a little off but unemployment benefits performed much better).
Quote was from Moody's, the amount was $1.61, http://www.npr.org/templates/story/s...ryId=128449659 the amount increases with each repetition. $2.50 is modest, heard $4 on the floor of the house a few weeks ago. So lets give unemployment to everyone, tax them enough to take it all back, and we can pay off the debt by summer.

Never did believe you can get something from nothing.
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Old 03-04-2013, 08:11 PM   #54
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Wealth redistribution is nothing new. It's been around for thousands of years. The rich have been taking from the poor since the days of Nebuchadnezzar. That's why the rich have all the money and the poor have none. This idea that the rich earned the money they have is simply not true. Certainly some have. But most have inherited it. Old money, the ruling class, the landed gentry, and today the 1%.

Sometimes it became too much and the Parisians stormed the Bastille or the October Revolution. Whether it was Marie Antionette and let them eat cake, Robin Hood and Sheriff of Nottingham, Jesse James, or Leona Helmsley's "only little people pay taxes" the only difference is the players.

This idea that the poor are taking and the rich are giving is just some media pundits idiocy. The poor have always paid - debtors prisons, the poorhouse, indentured servitude or the modern credit card. The rich can avoid taxes and other legal avenues not available to the average Joe.

If you earn 500 Million and you tax rate is from zero (3 thousand millionaires last year paid no fed taxes) to 14% or you made 50K last year and you pay 28% who was the winner?

This has nothing to do with politics but is just the state of the human condition.
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Old 03-04-2013, 08:32 PM   #55
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If they want what I have, then let them work for it just like I did.

If you don't work then you don't eat.
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Old 03-04-2013, 08:38 PM   #56
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jamesgr81: Post earlier said Forbes reported 500+ new billionaires this past year. Did any of them earn it, was it all old money, ill gotten gains?
Do some of that 1% pay taxes, hire people, expand the economy, buy goods and services and contribute to society? Did hard work or ingenuity pay off?

Half full or half empty.
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