IWillNeverStopBashing1Percen

From now on, I will create another page daily and repost ALL of my essays in honor of those who use multiple IDs and/or bots to vote down my comments. CLICK ON ALL + SIGNS TO VIEW COMMENTS.

How do you like that you die-hard partisan puppet critics? Was this the result you were hoping for when you started using multiple IDs to aggressively track and 'vote down' my comments? Were you hoping to intimidate me? If so, I have some bad news for you.

IT DIDN'T WORK.

Say that reminds me.

The CBO report I am about to make reference to breaks down shares of net American income by quintile. Since a quintile represents 1/5, the middle quintile would certainly represent the 'middle class'. But we'll expand further out to all 5 quintiles just to cover all bases. Keep in mind these statistics represent income AFTER taxes.

Between 1979 and 2007, the share of net income for the lowest quintile dropped by 27.9 percent. Does that prove the expansion of the lowest class? Damn near it but lets eliminate all doubt.

Between 1979 and 2007, the share of net income for the second quintile, dropped by 23.6 percent. Does that prove the expansion of the lower class? Isn't it possible that the lowest two quintiles were always the lower class and the middle class had always represented just 1/5 of the US population? Well, thats what justhefacts would swear so lets eliminate that last shred of doubt. Lets move onto the middle quintile. The indisputable 'middle class'.

Between 1979 and 2007, the share of net income for the middle quintile dropped by 14.5 percent. There you go. Indisputable proof that at least 3/5 of Americans lost their relative share of net income between 1979 and 2007. Indisputable proof that America's middle class had shrunk and its lower class had expanded between 1979 and 2007. Indisputable mathematical proof. Still, lets move onto the next quintile.

Between 1979 and 2007, the share of net income for the fourth quintile dropped by 10.3 percent. There you go. Indisputable proof that at least 4/5 of Americans lost their relative share of net income between the years 1979 and 2007.

Bankruptcy and consumer debt rose significantly during this time frame. By 2007, consumer debt alone rose to nearly $2,000,000,000,000. Thats NEARLY TWO TRILLION DOLLARS.

So we've proven the actual shrinkage of the middle class and the actual expansion of the lower class. We've clearly established a loss of financial assets.

So where did the money go? The highest quintile? Lets take a look.

Between 1979 and 2007, the share of net income for the fifth quintile rose by 23.8 percent. Should we blame them? The highest quintile? Do we really want to blame a full 20% of the American population?

Not in my book. Lets take a closer look.

Between the years 1979 and 2007, the share of net income for the top decile (one tenth) rose by 40.2 percent. Thats a 16.4 percent spread just within 10 percent of the population. Lets take a closer look.

Between the years 1979 and 2007, the share of net income for the top ventile (one twentieth) rose by 61.9 percent. Thats a 21.9 percent spread just within 5 percent of the population. Interesting. Now, lets take a look at the final piece of the puzzle from this particular time frame.

Between 1979 and 2007, the start of the Great Recession and the worst financial crisis in nearly 80 years, the share of net income for the top centile (one hundredth, top 1%) rose by 128.0 percent. Thats a spread of 66.1 percent just within 5 percent of the population.

But that 66.1 percent spread is nothing. It is multiplied by hundreds just within that top centile. The richest 1%.

THATS THE PROBLEM.

Now, watch my die-hard partisan puppet critics deny the actual shrinkage of the middle class, the actual expansion of the lower class, and the actual transfer of wealth from poor to rich. In particular, the richest 1% who as of 2007, owned 43% of all financial wealth in America. Thats more than twice the share they held in 1976.

I see that my die-hard conservative partisan puppet critics and possibly another (Thrasymaque) who has admitted despising me more than any other user and using 'bots' of his own design to 'vote down' my comments are at it again. Be sure to click the '+' sign to view all comments.

http://occupywallst.org/forum/48-hours-ago-i-had-2229-points-on-this-ows-site-no/

Joined Jan. 9, 2012