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Forum Post: What do Cons Not Understand About Too Few Have Too Much

Posted 2 years ago on Sept. 7, 2012, 11 a.m. EST by agkaiser (1415) from Fredericksburg, TX
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Or are these shills neo-con agent provocateurs? … deliberately obtuse? But no. Obtuseness is their natural state whether plants or just garden variety fools.

It's simple math. But to do good arithmetic you need honest numbers. The Census Bureau and BLS are a good place to start. The Levy institute will show that the net worth [equity and property free and clear] of all Americans was 48T in 2004 (more in 2007) and 1% of the people owned more than a third of it. (worse in 2007 and even worse today) The next 9% had more than 17T. $10.94 trillion was in excess of the first $5M each owned by top 0.999% of American Households. So if we had taxed all Americans (“rich and poor alike, every single penny”) for 100% of their property and everyone got the same $5 Million deduction, we'd have raised $10.94 T when the debt was quite a bit lower than the $15T it is today. And the rich assholes would still have $5M each. Do the cons back up their numbers?

“Working Paper No. 502” Edward N. Wolff, 2004 www.levyinstitute.org/pubs/wp_502.pdf updated to 2007 http://www.levyinstitute.org/pubs/wp_589.pdf


Read more facts: “How Does That Work?” https://www.createspace.com/3852916