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Forum Post: 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.

Posted 10 years ago on Dec. 14, 2011, 10:09 a.m. EST by ModestCapitalist (2342)
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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 over 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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7 Comments


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[-] 1 points by OccupyCentre (263) 10 years ago

Lets get those bank executives. Prison time for them. Bank managers and staff - rise up against these money grubbing tyrants.

[-] 1 points by ModestCapitalist (2342) 10 years ago

The people should buy a fire-proof safe from the local hardware store, bolt it to their floor, put their money in it, shop with cash or USPS Money Orders and let the banks go to hell. Then in a few years, when the banks have no choice but to do business on more ethical terms, pay their executives a low six figures MAX, and charge reasonable rates, maybe we can give them another chance.

I know there would be a giant downside. Another worldwide credit crisis. But there is no pain-free way out of this mess. Not without a voluntary sacrifice by the rich (That won't happen.) or an act of God (That won't happen either.).

[-] 1 points by OccupyCentre (263) 10 years ago

Six figures? I could run a bank on $30,000 per year. It is not rocket science. 99% of it is computerized anyway.

[-] 1 points by ModestCapitalist (2342) 10 years ago

You probably could. But I don't have a problem with a scale of income. If the high end were in the low six figures, that would be fine with me. I would still be middle class to the core. Its where I belong. I just think its gone way too far. The scale has become so obscene. It makes me sick.

[-] 1 points by ModestCapitalist (2342) 10 years ago

We have been mislead by Reagan, Bush Sr, Clinton, Bush Jr, Obama, and nearly every other public figure. Economic growth, job creation, and actual prosperity are not necessarily a package deal. In fact, the first two are horribly misunderstood. Economic growth/loss (GDP) is little more than a measure of domestic wealth changing hands. A transfer of currency from one party to another. The rate at which it is traded. This was up until mid ’07′ however, has never been a measure of actual prosperity. Neither has job creation. The phrase itself has been thrown around so often, and in such a generic political manner, that it has come to mean nothing. Of course, we need to have certain things done for the benefit of society as a whole. We need farmers, builders, manufacturers, transporters, teachers, cops, firefighters, soldiers, mechanics, sanitation workers, doctors, managers, and visionaries. Their work is vital. I’ll even go out on a limb and say that we need politicians, attorneys, bankers, investors, and entertainers. In order to keep them productive, we must provide reasonable incentives. We need to compensate each by a fair measure for their actual contributions to society. We need to provide a reasonable scale of income opportunity for every independent adult, every provider, and share responsibility for those who have a legitimate need for aid. In order to achieve and sustain this, we must also address the cost of living and the distribution of wealth. Here, we have failed miserably. The majority have already lost their home equity, their financial security, and their relative buying power. The middle class have actually lost much of their ability to make ends meet, re-pay loans, pay taxes, and support their own economy. The lower class have gone nearly bankrupt. In all, its a multi-trillion dollar loss taken over about 30 years. Millions are under the impression that we need to create more jobs simply to provide more opportunity. as if that would solve the problem. It won’t. Not by a longshot. Jobs don’t necessarily create wealth. In fact, they almost never do. For the mostpart, they only transfer wealth from one party to another. A gain here. A loss there. Appreciation in one community. Depreciation in another. In order to create net wealth, you must harvest a new resource or make more efficient use of one. Either way you must have a reliable and ethical system in place to distribute that newly created wealth in order to benefit society as a whole and prevent a lagging downside. The ‘free market’ just doesn’t cut it. Its a farce. Many of the jobs created are nothing but filler. The promises empty. Sure, unemployment reached an all-time low under Bush. GDP reached an all-time high. But those are both shallow and misleading indicators. In order to gauge actual prosperity, you must consider the economy in human terms. As of ’08′ the average American was working more hours than the previous generation with far less equity to show for it. Consumer debt, forclosure, and bankruptcy were also at all-time highs. As of ’08′, every major American city was riddled with depressed communities, neglected neighborhoods, failing infrastructures, lost revenue, and gang activity. All of this has coincided with massive economic growth and job creation. Meanwhile, the rich have been getting richer and richer and richer even after taxes. Our nation’s wealth has been concentrated. Again, this represents a multi-trillion dollar loss taken by the majority. Its an absolute deal breaker. Bottom line: With or without economic growth or job creation, you must have a system in place to prevent too much wealth from being concentrated at the top. Or at the very least, cultural behavior to prevent it. Unfortunately, we have neither. The government is sold out to Wall Street and the people idolize multi-millionaire celebrities. All of the above are responsible for transferring our nation's wealth from poor to rich. Our economy has become nothing but a giant game of Monopoly. The richest one percent already own over 40% of all United States wealth. More than double their share before Reagan took office. Still, they want more. They absolutely will not stop. Now, our society as a whole is in serious jeapordy. Greed kills.

[-] 1 points by ModestCapitalist (2342) 10 years ago

This past Saturday, I promised all of you that CNN would use their new show about 'ordinary people' heroes as yet another excuse to plug their army of filthy disgusting rich fake humanitarian celebrity pigs. All of which are promoting new CDs, movies, tours, ect. ITS ALWAYS ABOUT MARKETING.

I just did some checking. They did exactly as I promised they would. Those 'ordinary people' were exploited. The entire show was just another gimmick to sell product. Below is the exact entry I posted on Saturday:

CNN. The Celebrity News Network. What a bunch of rotten sold-out pigs. It's bad enough that they constantly praise celebrities for their bogus fake humanitarian crap every time they have a new movie, show, CD, fashion line, or some other over-priced crap to promote. All while COMPLETELY IGNORING the record high concentration of wealth that filthy rich celebrities represent. That's bad enough.

But now, they have the nerve to hype up a new show about 'heroes' and claim that its about ordinary people. It's not. It should be but it's not.

IT SHOULD BE BUT ITS NOT. Those 'ordinary people' are being exploited for ratings and PR. How do I know this? That's easy.

The show will be hosted by Anderson Cooper. The CNN poster boy. His face appears on every single ad for the show. EVERY SINGLE ONE. That wasn't necessary. The show will be attended by the same filthy rich celebrity pigs that CNN commentators constantly praise for their bogus 'good will' fake humanitarian crap. That isn't necessary.

Mark my words: Those celebrity pigs won't be upstaged by 'ordinary people'. No way in hell. THEY REFUSE TO BE UPSTAGED BY ANYONE. They won't stay seated. They won't stay in the background. They have agreed to attend the show in part, to give the ILLUSION that they are humble and modest. They are not. They all have ulterior motives. Every single one of them.

Mark my words: Those filthy rich celebrities have already negotiated with CNN for their own airtime. Their faces will be shown OVER AND OVER AND OVER during the show itself. They will be mentioned by name and invited to appear on stage during the show.

FILTHY RICH CELEBRITY PIGS WHO ALL HAVE NEW PRODUCTS TO PROMOTE. EVERY SINGLE ONE OF THEM. THEY ALWAYS HAVE ULTERIOR MOTIVES. ITS AWAYS ABOUT MARKETING. ITS ALWAYS ABOUT PROMOTING THEMSELVES. THIS IS NO EXCEPTION. THEY CANT EVEN STEP ASIDE AND LET A FEW REAL HEROES HAVE THEIR OWN FUCKING DAY WITHOUT SHOWING THEIR ROTTEN CELEBRITY FACES. ITS A SHAM. ANOTHER ROTTEN MARKETING TRICK.

Of course, there will be scripted lines. The ordinary people were chosen in part, for their willingness to show love for their favorite celebrities or fake it for the camera. Of course, there will be celebrity praise. Maybe, even fake tears. Just remember: Commercial airtime is incredibly valuable. Each minute of commercial airtime is worth six or seven figures. They aren't allocated unless there is a profit to be made. These shows don't just happen. They are carefully planned and rehearsed ahead of time. Every single participant has been coached on what to do and what to say. This includes the ordinary people. Most of whom probably don't realize that they are being exploited by CNN. The Celebrity News Network.

CNN. It's bad enough that they constantly praise filthy rich celebrity pigs for their bogus fake humanitarian crap. They even devoted an entire segment in December of '09' to Madonna and her now disgraced 'Raising Malawi' foundation. That's bad enough. But they can't even throw a bone to a few ordinary people without including a bunch of filthy rich fake humanitarian celebrity pigs.

ALL OF WHICH HAVE NEW PRODUCTS TO PROMOTE. EVERY SINGLE ONE OF THEM.

It makes me sick.

Good will has become big business.

Thats what I posted on Saturday. The show aired Sunday night. It was basically a two hour long commercial with a gimmick. Those 'ordinary people' were exploited by CNN to give the illusion of heart felt appreciation when in fact, the entire event was sold out to the entertainment industry.

If you search the phrase "CNN heroes", the vast overwhelming majority of entries make immediate reference to the filthy disgusting rich fake humanitarian celebrity pigs who attended the event. All of whom have new products to promote.

Ch'Ching!

If you search the phrase 'CNN heroes' on the 'image' page most of the photos that show up are of the filthy disgusting rich fake humanitarian celebrity pigs who attended the event. All of whom have new products to promote.

Ch'Ching!

I wish I could tell you that 1 out of 10 of those photos on the 'image' page were of those 'ordinary (decent) people'. But I can't. Its more like 1 out of 100. The rest of the photos are of Anderson Cooper and the filthy disgusting rich fake humanitarian celebrity pigs who attended the event.

Ch'Ching!

Like I said on Saturday, those filthy disgusting rich fake humanitarian celebrity pigs negotiated with CNN for their own air time. Their own close-ups. Their own introductions. Otherwise, they wouldn't have bothered to show up. Its now obvious that they have also instructed their publicists to plaster the entire web.

Ch' God Damn Fucking Ching! Those bastards. They couldn't even step aside for one fucking event and let those 'ordinary (decent) people' have their own fucking day. They just had to show up and exploit ANOTHER event for maximum publicity. Maximum sales. MAXIMUM PROFIT.

Anderson Cooper, Miley Cyrus, Kid Rock, Taylor Swift, and the whole bunch of those filthy disgusting rich fake humanitarian celebrity pigs suck. THEY SUCK. They have some God Damn nerve.

HEY CNN. YOU FILTHY SOLD-OUT PIGS. I HAVE A CHALLENGE FOR YOU. ITS MORE THAN A CHALLENGE. ITS A FUCKING DARE! THATS RIGHT. I DARE YOU TO PROVE ME WRONG. I FUCKING DARE YOU. PRODUCE ANOTHER TWO HOUR LONG SHOW ABOUT 'HEROES'. THATS RIGHT YOU FUCKING SELL-OUT PIGS. I DARE YOU TO DO ANOTHER ONE. THIS TIME, LEAVE THE CELEBRITIES OUT OF IT. LEAVE THEM OUT. LEAVE THEM OUT. LEAVE THEM OUT. LEAVE THOSE FILTHY DISGUSTING RICH FAKE HUMANITARIAN CELEBRITY PIGS OUT OF IT!

No? THATS WHAT I THOUGHT. You miserable fucking sell-out pigs. THATS WHAT I THOUGHT!

[-] 0 points by economicallydiscardedcitizen (761) 10 years ago

I guess I was not too far off the mark in my estimate on the front page of OWS that the true figure for the combined percentage of underemployed and unemployed in America is more like 40% Remember, 99%ers like me who have exhausted their UI benefit(which I paid into for 20+ years) along with personal savings-people like me ARE NOT COUNTED in government statistics.

I'm only able to survive because I have a husband (who, while work injured around the time my company closed its doors has a Veteran's service connected disability pension that is 'portable income' and allowed us to escape the San Francisco Bay Area 5 months before exhausting personal savings when gainful income from self employment efforts or gainful employment was not forthcoming (we even burned up a printer in the process of trying to generate enough business along with my cover letters and resumes.)