Posted on 04/01/2014 6:26:00 AM PDT by shove_it
The rich keep getting richer -- and the gap between the super rich and poor has widened even more under President Barack Obama.
According to a report from Sadoff Investment Research, the "average household in the top 1% pulled in earnings of $1,264,065 in 2012," which is "41 times greater than the $30,997 average income of Americans." But the top .1% did considerably better than the top 1%, posting "average earnings of $6,373,782, or 206 times the average families' income."
(Excerpt) Read more at breitbart.com ...
Excellent chart.
The only item below “stove & oven” that my family had as a young’en was a clothes washer. The definition of “poor people” has changed a lot in America just a few generations.
One can only guess how many millions the Obamas and their friends have salted away in personal accounts for their golden years .and they will be “golden.”
If they made their money producing valuable products and services then everyone makes out. Rising tides and all that. If on the other hand, they made their money from Bankster bailouts, financial manipulations and speculations, or government contracts or rigged regualtions, then its a straight up transfer of wealth from the working public to Insiders that don't work. This also erodes the value of the currency, increases costs, and reduces the overall performance of the economy making the public poorer.
Well said, and worth repeating.
People like Warren Buffett support high taxes to hinder others in their quest to become rich
Disgusting, but absolutely true
News flash - That will happen no matter who’s president. So what?
Big BUMP!
Super Rich also love to use Government to help keep out their competition.
When they pass some regulation, the motivation is for the entrenched to keep somebody else out. Regulations are meant to be nothing more than barriers to entry.
You are right more than you know. Many dismiss these headlines as liberal/dem rhetoric. Fact is, without a strong and growing middle class, America is doomed. Destroying the middle class (inflation, taxes, etc) and creating more have nots is straight from Communist playbook.
it's this to be expected?
There are a large percentage of people more than willing to sit home on their fat butts collecting welfare.
And then there are those who make the right choices and continue to do better and better.
Since the bums will always have nothing... isn't it inevitable that the gap between those who are working and growing their wealth would ... grow wider and wider?
The only way for the gap to shrink would be if everyone do well suddenly lost a massive part of their income or wealth, because the bums will always have nothing.
I’m amazed the average income is only $31K. For a family of four, a sole breadwinner would be at only 133% the poverty level. IOW, for most people, both parents MUST work to raise a family.
in their complete ignorance of history, 1 friend and my super lib brother are now calling themselves socialists.
property is theft , don’t you know?
needless to say I don’t discuss it, I won’t waste my time.
Damn those poor people. They just won’t help themselves and keep up their share of the burdens
That's Common Core math. It's actually 9,975,000.
-PJ
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