Forum Post: Rich pigs. This global crisis and subsequent protest is all happening because of you. Because of your incredible greed. It's getting worse by the day. The prosperity and social stability of an entire world is now in jeopardy. You have a choice to make. St
Posted 12 years ago on Nov. 22, 2011, 9:34 p.m. EST by ModestCapitalist
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Rich pigs. This global economic crisis and subsequent protest is all happening because of you. Because of your incredible greed. It's getting worse by the day. The prosperity and social stability of an entire world is now in jeopardy. You have a choice to make. Stop concentrating so much wealth or go down in history with one hell of a footnote.
Their answer is and will always be as follows:
"HELL NO! WE WILL GET AS RICH AS WE DAMN WELL PLEASE."
Its true. They absolutely will not stop. Not under any circumstances. Not even for the good of humanity. Amazing. The prosperity and stability of an entire world is being compromised by a tiny little sliver of it's population. The rich. They absolutely will not stop. Not under any circumstances.
The ugly truth. America's wealth is STILL being concentrated. When the rich get too rich, the poor get poorer. These latest figures prove it. AGAIN.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans, saw their earnings fall by $4.5 billion collectively. The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion. In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009. Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
Greed kills. It will be our downfall.
Good post. It is all about a "crime against humanity" and must be dealt with internationally.
What is a woman? Take away all accountability and reason
The other thing you just don't "get". People own all the money in the world. If you take money away from people, who do you give it to? You?
Next.
You do realize that by directly addressing the rich you are not talking to anyone but yourself?
Next.
The ugly truth. America's wealth is STILL being concentrated. When the rich get too rich, the poor get poorer. These latest figures prove it. AGAIN.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans (actually, more like 98%), saw their earnings fall by $4.5 billion collectively. The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion. In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009. Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
Another word about the first Great Depression. It really was a perfect storm. Caused almost entirely by greed. First, there was unprecedented economic growth. There was a massive building spree. There was a growing sense of optimism and materialism. There was a growing obsession for celebrities. The American people became spoiled, foolish, naive, brainwashed, and love-sick. They were bombarded with ads for one product or service after another. Encouraged to spend all of their money as if it were going out of style. Obscene profits were hoarded at the top. In 1928, the rich were already way ahead. Still, they were given huge tax breaks. All of this represented a MASSIVE transfer of wealth from poor to rich. Executives, entrepreneurs, developers, celebrities, and share holders. By 1929, America's wealthiest 1 percent had accumulated 44 percent of all United States wealth. The upper, middle, and lower classes were left to share the rest. When the lower majority finally ran low on money to spend, profits declined and the stock market crashed.
Of course, the rich threw a fit and started cutting jobs. They would stop at nothing to maintain their disgusting profit margins and ill-gotten obscene levels of wealth as long as possible. The small business owners did what they felt necessary to survive. They cut more jobs. The losses were felt primarily by the little guy. This created a domino effect. The middle class shrunk drastically and the lower class expanded. With less wealth in reserve and active circulation, banks failed by the hundreds. More jobs were cut. Unemployment reached 25% in 1933. The worst year of the Great Depression. Those who were employed had to settle for much lower wages. Millions went cold and hungry. The recovery involved a massive infusion of new currency, a World War, and higher taxes on the rich. With so many men in the service, so many women on the production line, and those higher taxes to help pay for it, some US wealth was gradually transferred back down to the majority. This redistribution of wealth continued until the mid seventies. By 1976, the richest 1 percent held less than 20 percent. The lower majority held the rest. This was the recovery. A partial redistribution of wealth.
Then it began to concentrate all over again. Here we are 35 years later. The richest one percent now own 40 percent of all US wealth. The upper, middle, and lower classes are sharing the rest. This is true even after taxes, welfare, financial aid, and charity. It is the underlying cause. No redistribution. No recovery.
The government won't step in and do what's necessary. Not this time. It's up to us. Support small business more and big business less. Support the little guy more and the big guy less. It's tricky but not impossible.
For the good of society, stop giving so much of your money to rich people. Stop concentrating the wealth. This may be our last chance to prevent the worst economic depression in world history. No redistribution. No recovery.
Those of you who agree on these major issues are welcome to summarize this post, copy it, link to it, save it, show a friend, or spread the word in any fashion. Most major cities have daily call-in talk radio shows. You can reach thousands of people at once. They should know the ugly truth. Be sure to quote the figures which prove that America's wealth is still being concentrated. I don't care who takes the credit. We are up against a tiny but very powerful minority who have more influence on the masses than any other group in history. They have the means to reach millions at once with outrageous political and commercial propaganda. Those of us who speak the ugly truth must work incredibly hard just to be heard.
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In America you can still open a hot dog stand and make good dogs and then open 5 more stands and the open a few resturants and become a millionaire. Only in America! That is what makes us great. You can still do anything you want to do if you have a great idea. What is wrong with that? Tell me. Is it wrong for folks to work hard and make a ton of money?
When the wealth becomes too concentrated the entire economic structure changes. Growth slows to a standstill. With no correction, depression is inevitible. Incredible hardship becomes more widespread than ever.
I speak the ugly truth. We are on the verge of a severe global depression. The worst economic and cultural crisis of all time.
Yes. It is wrong to concentrate wealth to such an extreme.
It is wrong to become or stay rich.
Greed kills. It will be our downfall.
So I ask you...what is rich? In Southern Cal if you make $200,000 a year that is not rich in many areas because the real estate costs so much. But in Dayton Ohio, you would be rich!!! Really, what is rich?
I've made the same point with regard to real-estate. But those prices would drop with a more reasonable distribution of wealth. Still, $200,000 is more than enough to live well even in Southern California. Not quite 1% territory but certainly upper class.
The top one percent have an average household income of well over $1,000,000 per year. That is definitely rich. No question. The lower end of that percentile is around $350,000 per year. Still rich.
Roughly one percent of Americans are rich. Collectively, they own over 40% of all private wealth. That's too much.
Every issue in the history of mankind has some grey area. Some element that is relative. But that's no excuse to dismiss the entire issue. I won't. The richest one percent of Americans are rich. Period. The richest one percent of Western Society are rich. Period.
The scale is even more unjust in the third world. The richest one tenth of one percent rule there. Then again, the masses should not squeeze out tens of millions of children every year that they know God damn well they can't provide for. They don't even have enough fresh water. Still they multiply like rabbits. God damn fucking stupid.
Just in case you were planning to go there.
Are you an adult? Now you are making threats. Do you have a means to carry out those threats?
I made no threat. I was referring to a severe global depression and a complete societal meltdown which will take place if nothing is done to partially reverse the highest concentration of wealth in world history.
In other words the rich will go down in history not as the heroes they make themselves out to be but as the pigs they are.
modestcapitalist I wonder if this is their plan. Let the "rabble" die off and they get the whole world. I for one hope thats their plan because I know they lose, the Bible says "the meek shall inherit the earth". And these slobs aint meek!!
modestcapitalist I wonder if this is their plan. Let the "rabble" die off and they get the whole world. I for one hope thats their plan because I know they lose, the Bible says "the meek shall inherit the earth. And these slobs aint meek!!
The rich pay most of the taxes in the US. The middle class pay the rest. Poor folks pay no income taxes. Without the rich, we could not survive. What needs to change is the tax code. The rich do not make the tax code, congress does. Even Bill Gates uses the tax code for his benifit. All rich people do. They pay folks to do this for them. Jst like when we go to the tax guy to help us pay only the taxes we owe. There is no difference. We all do it. We need to change the tax code.
what middle class
Very well said.
That's not true. The devil is in the details.
Don't believe this crap about the rich paying 37% of the taxes and the poor paying none. It's a trick. A spin on statistics to make it seem as if the rich are overtaxed. They aren't. But they damn well should be. We're in this mess because of them.
Be careful when you hear or read anything regarding the PERCENTAGE of OVERALL FEDERAL INCOME taxes paid by any particular group, it's a terribly misleading statistic. The rich pay a larger PERCENTAGE of OVERALL FEDERAL INCOME taxes now than 10 years ago because they have a larger PERCENTAGE of INCOME in America now than 10 years ago. That statistic regarding 37% of Federal Income Taxes is one of the most misleading in the history of propaganda.
When you account for all FEDERAL, STATE, and LOCAL taxes and fees, the middle class actually pay about the same rate (as a percentage of income) as the rich. The difference is within 5 percent. It shouldn't be that way. The rich should pay MUCH more simply because they are horribly over-paid. We aren't. They own 43% of all financial wealth in America. We share the rest. But it gets even more disgusting. The devil is in the details.
Corporate profits have been partially subsidized with federal, state, and local revenue. This benefit has been hoarded at the top. Business managers make up the largest group of one percent club pigs. Plus 40% of the market is owned by the top 1%. Their record territory dividends have been partially subsidized by federal, state, and local revenue. The benefits have not been shared proportionally with the little guy. The lopsided division of growth across quintiles proves it.
The highest percentile has grown more than 10 times faster than the middle percentile over the last 30 years. This is true EVEN AFTER taxes. When you account for inflation and the actual cost of living (tied to record high profits in energy, finance, and healthcare), the middle class have actually lost relative buying power while the top 1% have drastically increased their income and bottom line wealth.
In 1976 (when their taxes were much higher), the top one percent reaped 9 percent of all private income and held less than 20 percent of all private wealth in America. Now, they reap 21 percent of all private income and hold 40 percent of all private wealth. Meanwhile, the lower majority (those who are still employed) are working more hours and have less to show for it.
Just to make it crystal clear: The rich do not pay 37% of all taxes. They never have. They pay roughly 37% of all FEDERAL INCOME TAXES which account for less than 1/2 of total government revenue. The rest is drawn from a number of sources and across income levels. The rich harp on this 'Federal Income Tax' statistic because it leads people to believe that they pay 37% of ALL taxes. They don't. Their share as a group represents just over their share of income. The difference is within 5 percent.
If the rich want to pay a lower share of the taxes in America, then they should get themselves a lower share of the income in America. In other words, don't be so rich to begin with.
RAISE THOSE GOD DAMN TAXES ON THE RICH!
These are SOCIOPATHS - the same kind of people as Nero, Napoleon, Hitler, Pol Pot, Milosevic - madmen who have taken control of the asylum as in the famous tale by Edgar Allan Poe.
I think you are mad because you do not know how to become rich. Throught history, you will always hane the haves and have-nots. For thousands of years it has been this way and will continue. Work hard and you can make it also.
not true dodo I worked hard all my life and I almost lost my house my wife trying to get a job.
No. I'm mad because it's gone way too far. I'm mad because greed has become a worldwide epidemic. I'm mad because those who epitomize it refuse to acknowledge the highest concentration of wealth in world history or it's effect on economic and social stability. I'm mad because I see the ugly truth. Greed will eventually cause or accelerate the fall of modern society.
My point is that there has been greed since the dawn of time. Only when we stop printing money or make gold worthless will it stop. In other words....never. If we have a terrible civil war, when it is all over and done, it will all start over again. Read Animal Farm. It will all happen again.
But it's worse than ever now. It's become a worldwide epidemic. I can't just stand by and watch it go on unchecked.
50 years ago it was the same. Still had GE and Coke and big oil. Was the very same. We had huge corporations giving to politics then also. Look at the millions that were given to Nixon. Maybe even zillions. There is nothing new now. You are wasting your time.
No. It's worse now. It really is. There is way too much injustice and way too many of us who feel stepped on. You can't just talk us down. That's like smacking a hornets nest and then telling the hornets that they are wasting their time swarming to defend the nest.
There is only one way to stop us.
Resolve the issues.
I know many of you are upset. I know it is hard to get a job right now. But there are millions of folks who have jobs. Lots of good ones. You just have to know how to do it. For instance if you go into the military for 3 years, any branch, you will get your college paid for. Also, when you get out your chances for a good Government job are very good. Great pay with benifits. That is what I did many years ago. I have a young friend who did just that. Went into the service, got a dept of defense job and is going to school at the same time. You just gots to do it! Jobs are waiting for you.
Yeah. That's what my co-worker's nephew did. He wanted to go to college. He joined the military. He stepped on an IED. He died at 25. His picture is on her desk in his uniform. Young, handsome, and gone. You should not need to risk death for an affordable education and hopeful future.
You can go into any branch. Air Force, Coast Guard. Navy. Lots of ways to serve.
Well that is an excellent point but the military just isn't for everyone. How could it be? Unemployment is at 9%. The military could never absorb that many people at once. Even if the physical resources were there, the money wouldn't be. We already spend $700,000,000 per year on defense. I won't even take a stab at how high that figure would go with another few million recruits. It still is an excellent point. Just not the answer for everyone.
Yup, but good for some.
Here is a real quick fix. There is roughly $600 trillion in derivatives out there. Simply tax every 'in-the-money' transaction until we get $15 trillion to pay off the debt. Recently BoA and JPMorgan moved $150 trillion in derivatives under the protection of the FDIC. How do they suppose the government is going to pay for that? For those of you who thought Dodd-Frank did anything, check again. http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html
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