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renie408

(9,854 posts)
Mon Aug 20, 2012, 11:18 AM Aug 2012

I want somebody to ask Mitt Romney where the jobs are.

"According to the Congressional Budget Office, between 1979 and 2007 incomes of the top 1% of Americans grew by an average of 275%. During the same time period, the 60% of Americans in the middle of the income scale saw their income rise by 40%. Since 1979 the average pre-tax income for the bottom 90% of households has decreased by $900, while that of the top 1% increased by over $700,000, as federal taxation became less progressive. From 1992-2007 the top 400 income earners in the U.S. saw their income increase 392% and their average tax rate reduced by 37%.[15] In 2009, the average income of the top 1% was $960,000 with a minimum income of $343,927.[16][17][18]

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%. Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[19] However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.[19][20][21] During the economic expansion between 2002 and 2007, the income of the top 1% grew 10 times faster than the income of the bottom 90%. In this period 66% of total income gains went to the 1%, who in 2007 had a larger share of total income than at any time since 1928."

http://en.wikipedia.org/wiki/Distribution_of_wealth

Mitt and his buddies have been telling me for years that it is WRONG, WRONG I say, to tax the 'job creators. Well, they are richer and paying less taxes than ever.

Where is my damn job?

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I want somebody to ask Mitt Romney where the jobs are. (Original Post) renie408 Aug 2012 OP
India and China. Where else would they be? HopeHoops Aug 2012 #1
Oh...right...I forgot. n/t renie408 Aug 2012 #2
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