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Forum Post: If the cut off point between the 1% and 99% is an annual income of $500,000 then aren't many of the 99% extremely wealthy?

Posted 12 years ago on Nov. 18, 2011, 6:40 p.m. EST by Lizzy0Windsor (36)
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It seems like a pretty irrelevant statistic, and a spurious one to base a movement on?



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[-] 2 points by powertothepeople (1264) 12 years ago

That is not the statistic that it is based on.

It is based on the 1% who control 42% of the wealth in the USA and similar statistics worldwide.

It is based on assets not income.

[-] 0 points by Lizzy0Windsor (36) 12 years ago

As the USA controls a hugely disproportionate % of the world's wealth, doesn't it then follow that this wealth be effectively redistributed to less fortunate countries? That is, make a real difference to human existence, and not just ease the burden of some uppity white middle class students living in the wealthiest country in history?

[-] 1 points by powertothepeople (1264) 12 years ago

Yes, we shouldn't criticize our government or work to improve our own political system until all the hungry people in the entire world have been fed.

That's how it's always worked throughout history.

[-] 1 points by DemandTheGoodLifeDotCom (3360) from New York, NY 12 years ago

The people living in the wealthy West did absolutely nothing to be born there instead of Liberia. And they did absolutely nothing to make their countries begin industrialization a few centuries before today's poor countries.

So there is no justification for it. We live in a world with a terribly unfair system that kills millions every year. People should be treated equally.

[-] 1 points by AFarewellToKings (1486) 12 years ago

I Appreciate your contributions : ) Too bad there are so many moronic posts like this from the 'Phillip and I " crowd. See you in Philly and Farewell LizzyO deCastle LMAO (sorry, i do try to restrain myself)

[-] 0 points by MVSN (768) from Stockton, CA 12 years ago

We have spent billions for Africa and nothing changes there. You liberals need to read some history.

[-] -1 points by steven2002 (363) 12 years ago

That makes absolutely no sense, the more income you have, the more assets you have. Cash is an asset. Income permitted the gathering of those assets. Therefore it is income that determines what assets you have.

[-] 2 points by powertothepeople (1264) 12 years ago

I hope you are not an accountant.

[-] 1 points by me2 (534) 12 years ago