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  • Top One Percent Captured 121 Percent Of All Income Gains During Recovery's First Years: Study

    Trickle down where?

     

    Top One Percent Captured 121 Percent Of All Income Gains During Recovery's First Years: Study

     

    In the aftermath of the worst recession in decades, the richest Americans have been getting richer -- a lot richer -- while most Americans have gone the other direction.

    Add it all together, and the top 1 percent of households by income captured 121 percent of all income gains between 2009 and 2011, during the first two years of the economic recovery, according to new research by Emmanuel Saez, an economics professor at the University of California at Berkeley. (Saez is a renowned income inequality expert and winner of the prestigious John Bates Clark Medal, an award that the American Economic Association gives every year to the top economist under age 40.)

    How was the top 1 percent able to capture more than all of the recovery's income gains? They became 11.2 percent richer while the bottom 99 percent got 0.4 percent poorer, when accounting for inflation, according to Saez.

    Saez released the updated figures in late January after finding last year that the top 1 percent had captured 93 percent of all income gains in 2010, the first full year of the economic recovery.

    Overall, between 1993 and 2011, the top 1 percent's incomes surged 57.5 percent, while the incomes of the bottom 99 percent grew just 5.8 percent, according to Saez.


  • #2
    should start trickling down any minute now.

    Comment


    • #3

      We've been had again. Thanks Reagan, thanks Bush, thanks a lot. You've really done well for America(?).

      -----------------------------------------------------------------------------------------------------------------------------------

      "Faith ruled the dark ages."

      Comment


      • #4

        We should take their money 'cuz it's not fair and stuff....

        Comment


        • Ed
          Ed commented
          Editing a comment
          121%? Umm.... that is impossible, unless you are using leftist math.

        • madryan
          madryan commented
          Editing a comment

          nedezero1 wrote:

          We should take their money 'cuz it's not fair and stuff....


           

          Considering that many of them are the same ****************heads that actually kicked off the mess that nearly tanked the world economy...

           

          Not a bad idea...


        • Tom Hicks
          Tom Hicks commented
          Editing a comment

          nedezero1 wrote:

          We should take their money 'cuz it's not fair and stuff....


           

           

          no tax money needed, 'cuz maintaining the largest military in the world is free and stuff... especially aircraft carriers!  

          [/ned]


      • #5
        Nedzero: is there any point where you believe that too much wealth concentrated in the hands of too few is bad for the overall economy?
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        Comment


        • nedezero1
          nedezero1 commented
          Editing a comment

          guido61 wrote:
          Nedzero: is there any point where you believe that too much wealth concentrated in the hands of too few is bad for the overall economy?

          Yes, and stealing it from them isn't the answer. The best way to take money from the "rich" is to outsmart them. Just like they did from those who were "rich" before them.

          What you get is a ratcheting up of society and technology.

           

           


      • #6
        And when has "outsmarting" them ever worked? How does that plan play out? How does "outsmarting" them make the wealth distribution more beneficial for the overall society and economy?
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        Comment


        • nedezero1
          nedezero1 commented
          Editing a comment

          guido61 wrote:
          And when has "outsmarting" them ever worked? How does that plan play out? How does "outsmarting" them make the wealth distribution more beneficial for the overall society and economy?

          Mistake #1 - Wealth isn't "distributed".

           

          People come here form other countries with no money and get rich all the time. While multi-generational American piss and moan about how unfair everything is and vote for "community organizers" that benefit from establishing, maintaining, and exploiting the victim class.

          You may choose to covet what others I have, and rely on government to steal from them and give to you. I choose to get what others have by adapting, working, education, and with my own efforts. And so far it's working out pretty good.

          Wealth isn't "distributed". It's out there for anyone to acquire or earn if they so choose.


      • #7

        moonlightin wrote:

        Trickle down where?

         

        Top One Percent Captured 121 Percent Of All Income Gains During Recovery's First Years: Study



        1 - 1.21 = - 0.21.

        There is no more than 100 percent in 100 percent; there is not 121 percent in 100 percent.

        That headline reads that the top 1 percent catured more income than there was.

        Comment


        • #8
          Read the article. It explains why it is over 100%
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          Comment


          • normh
            normh commented
            Editing a comment

            guido61 wrote:
            Read the article. It explains why it is over 100%

            I understand why.  I just wanted to point out the inconsistency.


          • yanktar
            yanktar commented
            Editing a comment

            guido61 wrote:
            Read the article. It explains why it is over 100%

            Read? You expect the RWNTs to actually READ it?

            Why, they might have to do ARITHMETIC!  (Curses!)


        • #9

          moonlightin wrote:

          Trickle down where?

           

          Top One Percent Captured 121 Percent Of All Income Gains During Recovery's First Years: Study

           

          In the aftermath of the worst recession in decades, the richest Americans have been getting richer -- a lot richer -- while most Americans have gone the other direction.

          Add it all together, and the top 1 percent of households by income captured 121 percent of all income gains between 2009 and 2011, during the first two years of the economic recovery, according to new research by Emmanuel Saez, an economics professor at the University of California at Berkeley. (Saez is a renowned income inequality expert and winner of the prestigious John Bates Clark Medal, an award that the American Economic Association gives every year to the top economist under age 40.)

          How was the top 1 percent able to capture more than all of the recovery's income gains? They became 11.2 percent richer while the bottom 99 percent got 0.4 percent poorer, when accounting for inflation, according to Saez.

          Saez released the updated figures in late January after finding last year that the top 1 percent had captured 93 percent of all income gains in 2010, the first full year of the economic recovery.

          Overall, between 1993 and 2011, the top 1 percent's incomes surged 57.5 percent, while the incomes of the bottom 99 percent grew just 5.8 percent, according to Saez.



          moonlightin wrote:

          Trickle down where?

           

          Top One Percent Captured 121 Percent Of All Income Gains During Recovery's First Years: Study

           

          In the aftermath of the worst recession in decades, the richest Americans have been getting richer -- a lot richer -- while most Americans have gone the other direction.

          Add it all together, and the top 1 percent of households by income captured 121 percent of all income gains between 2009 and 2011, during the first two years of the economic recovery, according to new research by Emmanuel Saez, an economics professor at the University of California at Berkeley. (Saez is a renowned income inequality expert and winner of the prestigious John Bates Clark Medal, an award that the American Economic Association gives every year to the top economist under age 40.)

          How was the top 1 percent able to capture more than all of the recovery's income gains? They became 11.2 percent richer while the bottom 99 percent got 0.4 percent poorer, when accounting for inflation, according to Saez.

          Saez released the updated figures in late January after finding last year that the top 1 percent had captured 93 percent of all income gains in 2010, the first full year of the economic recovery.

          Overall, between 1993 and 2011, the top 1 percent's incomes surged 57.5 percent, while the incomes of the bottom 99 percent grew just 5.8 percent, according to Saez.


          hey socialist what percentage is appropriate in your warped mind?

          Comment


          • Rudolf von Hagenwil
            Editing a comment

            5000% percent for me would just be right

             

            but I'm a commponista, not socialista


        • #10

          everyone is losing purchase power due to obamas expansion of the money supply.   If you can rub two nickles together they are worth less than they were.  

          "you mess with him and you mess with the whole trailer park"

          Comment


          • gismo recording
            gismo recording commented
            Editing a comment

            Yes. Inflation has been horrific under Obama. Not like it was in the good old days of Ronald Reagan.

            hmmm...

            year   inflation rate

            1981  8.9%
            1982  3.8%
            1983  3.8%
            1984  3.9%
            1985  3.8%
            1986  1.1%
            1987  4.4%
            1988  4.4% 

            2009  2.7%
            2010  1.5%
            2011  3.0%
            2012  1.7%

            source http://www.usinflationcalculator.com/inflation/consumer-price-index-and-annual-percent-changes-from-1913-to-2008/

             


          • guido61
            guido61 commented
            Editing a comment

            TIMKEYS wrote:

            everyone is losing purchase power due to obamas expansion of the money supply.   If you can rub two nickles together they are worth less than they were.  


            Problem here, Tim, is that if you actually stopped hating Obama long enough to understand economics you'd see that the result of this is pretty much what conservatives like yourself have been clammoring for.

            One way to help pay down the debt is to inflate the money supply.  By inflating the money supply and lowering the purchasing power, the result is the same as an across-the-board tax increase applied to the debt.   It's guys like you always arguing that we need to "broaden the base" and that the poor need to pay more taxes.   Well this does exactly the same thing.  If everyone's spending power is 10% less and the "real" value of the debt is 10% less due to increasing the money supply, then that's the same as an across the board, flat tax on everyone.

            You should be cheering this sort of policy.  Maybe you would if Romney were president instead?


        • #11
          Everyone except the rich, that is
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          Comment


          • #12
            Any minute now the economy will be booming
            I'm not a gynecologist, but I'll be glad to take a look

            Float like a butterfly, sting like VD

            What happens up north, stays up north

            Comment


            • guido61
              guido61 commented
              Editing a comment

              Trickle, trickle, trickle!   Can't you just feel all that trickling down of wealth the top is doing on you...doesn't it feel so nice and warm....

               

              Oh wait...that's not WEALTH that I feel trickling on me, is it.....?



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