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Wealth Disparity

So what you're saying, is that trickle down is working, right?
 
As with most things, Americans' view of reality is predominately determined by highly distorted sound bites and firmly held misconceptions.
 
WFFaithful said:
As with most things, Americans' view of reality is predominately determined by highly distorted sound bites and firmly held misconceptions.
Click to expand...

Very true. The re-election and blind support of Barack Obama are perfect illustrations of this distorted view of reality.
 
At my Bible study at lunch today, we covered the last two chapters of the Book of James.

The first 5 verses of Chapter 5 seemed prophetic to me given our National debate about wealth disparity:

Warning to Rich Oppressors

5 Now listen, you rich people, weep and wail because of the misery that is coming on you. 2 Your wealth has rotted, and moths have eaten your clothes. 3 Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. 4 Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. 5 You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter.

I agree that we have a serious problem regarding wealth distribution.
 
What I said was tickle down is a scam and it is.
 
RJKarl said:
What I said was tickle down is a scam and it is.
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Tickle+Elmo.jpg
 
Absolutely not. The most premise of a market driven economy is the more people in the market the more successful it. The way you do that is not to give the rich more money, but the get the middle and the bottom involved in the economy. They create the wealth for the rich not the other way around.

Even David Stockman has called trickle down a "trojan horse" and worse. Warren Buffett calls it a failure.

"GOP Saint Ronnie Reagan's own budget director, David Stockman, recently said "all the Bush tax cuts should be eliminated - even those on the middle class. And he said his own Republican Party has gone too far with its anti-tax religion." Deficits: The Battle Over Taxing The Rich - 60 Minutes - CBS News.

Billionaire Warren Buffett says the Bush tax cuts should be allowed to expire for the richest Americans and that the "trickle down" economic theory hasn't worked. Warren Buffett: 'Trickle Down' Theory Hasn't Worked"

Only those intent on creating an oligarchy or feudal system in America can justify this insane concept.
 
http://news.yahoo.com/us-wealth-gap-putting-squeeze-state-revenue-042337218--finance.html

"The widening gap between the wealthiest Americans and everyone else has been matched by a slowdown in state tax revenue, according to a report being released Monday by Standard & Poor's.

Even as income for the affluent has accelerated, it's barely kept pace with inflation for most other people. That trend can mean a double-whammy for states: The wealthy often manage to shield much of their income from taxes. And they tend to spend a lower percentage of it than others do, thereby limiting sales tax revenue."
 
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