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47. Re: 38 Studios Closed? May 24, 2012, 22:45 Beamer
 
RollinThundr wrote on May 24, 2012, 21:44:
Sepharo wrote on May 24, 2012, 21:16:
RollinThundr wrote on May 24, 2012, 21:02:
The only difference being the GOP tends to not resort to class warfare [...]

According to the GOP "class warfare" is the reasonable call for an increase in taxes. But they've all signed some idiotic pledge to never raise taxes for any reason ever. I LIEK MONEY

Ok let's tax the 1% 100% of their income, and when that isn't enough due to the out of control spending in government what will be the solution? I have no issue with raising taxes. I have issues with the spending that neither party wants to address. That's the problem.

I'll give you that. Spending is indeed extreme.

But our economy isn't shitty because we're spending too much. Our economy is shitty because too few people have too much money, leading to the rest of us either not spending enough money or going into too much debt to spend that money.


The top 1% (the issue is really more like 0.5% or so) is earning too much, which is our issue. In 1980, when Reagan was just about to cut taxes, the top 1% earned about 10% of the nation's income. In 2007 they earned close to 25% of the nation's income. Of course, since this is percentages we're talking pieces of the pie, and in order for the top 1% to increase their earnings that much the rest of us must be earning proportionately much less. How so? Here's a graph showing how indexed incomes growing over since 1979.


Their share of wealth is even worse, though I don't have the WSJ with the 1980 statistic bookmarked on this PC I believe it was about 17%. It's now around 38%.

This isn't sustainable. We have far too few people making far too much money proportionately. Each dollar they earn is a dollar someone else does not. They're earning more than they can spend and other people aren't earning enough to spend. It creates a sickly, shrinking economy. Worse, how are these extra dollars being made by the extreme top? In part by cutting jobs and sending them overseas.

It will topple our economy. What's worse, people making less than a million a year keep defending their right to do this, as if they aren't being very damaged in the long run. If you aren't earning seven figures annually you're being fucked. And, when the huge crash comes in 20-50 years, we'll all be fucked.
 
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