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WE HAVE BEEN ALL 120,000,000 OF MIDDLE CLASS
BY 1,500,000.
EMPIRE DESTRUCTION—Rome-Spain-Holland-England-America???
1980 to 2007
IMPORTANT—No Reagan + Bush Tax Cuts we enjoy a $14,000 Billion surplus today
20 years Conservative Presidents
18 years Conservative Senate
12 years Conservative House
6 years Total Conservative Control
Redistribution of Wealth to top 20%. From 1981-2008
Folk! It was downhill slide for Middle Class.
From 1945 to 1980 distribution was even. Each percentile increased in Income-Wealth almost evenly(percentage). Economist called it the Picket Fence Distribution. Reagan began Step Ladder Distribution with top step going into outer space.
FACTS---numbers rounded-
Financial Wealth owned by 1%
1946---30% of Total Wealth
1980—20%--a 33% decline due to Estate Tax and High Top Income Tax Rate.
1989---37%--Reagan Tax Cut(60%) got Rich Increase of 80% of Total Wealth
2007---43%
2007—BAD NEWS AMERICA--
1% owned 40% of all Stocks
10% owned 80% of all stocks
Bottom 30% owned 18%
20% owned 93% of Total Financial Wealth
In people terms--(30 Million=93%-- vs-- 120 Million=7%) A democracy?? Third World?
Wall Street history before 1980 was to build American businesses and American jobs
THENCE COMETH CONSERVATISM roll dem dice-- 1920's Deja vu
1980-2007—1% Income Increased by 170%. 2500 Billion in Tax Cuts for them
Most Major corporations are owned by WALL STREET RICH MEN CASINO
In 1945, Corporations paid 35.4% of federal revenues and 7.4% in 2003
In 2007, Corporations paid an average of 16% of profit in federal taxes.
In 2000, 45% of corporations with revenue over 50 million paid NO federal tax
In April 2010—Exxon filed to pay no 2009 taxes on Billions of profit
Seven Wall Street Banks control 75% of all Bank Deposits in America.
Two control 20%.
Think that is not POWER???
FACT CHECK
In 8 years of Bush with 6 years of Total Control by so-called Conservatives
BAILOUT—enriched Big Gamblers big time
$120 Billion went to Wall Street Gamblers
$18 Billion went to working class
Food Stamp Families--Increased 90% from 1980 to 2005 to 40 million families.
Shame on you America! Christ is crying!
They (wall street rich) created a Net New Jobs of 31,000 per month under Bush.
In the past Wall Street created jobs by using investors money to build new businesses and increase current ones to add jobs. Gambling creates no new jobs.
Net Job Creation is take jobs created and subtract 2,300,000 sent to China under Bush 8 years
25 Hedge Fund Managers earned over one billion each in 2009 and paid 15% Tax Rate.
The income of 25 could have hired 658,00 new teachers.
This was during Worst Republican Recession in History.
Each “Significant” Recession in 20th was under R president.
IRS data shows the effective tax rate on richest 400 is now 16%.
Coal Miners Rate is 28%.
Republicans scream cut it cut it cut it!!! Are they dumb or just insane?
They enriched the Top 1% so much NYT wore-”Today, the Rich do not recognize the New Rich”
It was not productive enrichment.
Top 1% got 60% Tax Cut
Gamblers Tax Rate cut for 28% to 15%
Ultra Rich Estate Tax took huge cut
Revenue Sharing tasferred off the Rich to Middle Class
Killing Industry stock value zoomed for ultra rich
Credit Card profits off Middle Class zoomed for Rich.
31,000 jobs.Why? That is NET. You take the new jobs created and subtract the ones sent to China (2,300,000) during Bush 8 years.
31,000! Wow!
Twenty Years of Three so called Conservative Presidents created an average of 99,000 Net New Jobs per Month.
Twelve Years of Carter + Clinton got 222,000 per month.
Bush took over after Clinton had created 237,000 Net New Jobs per month.
Reagan took Carter 218,000 net new jobs down to 175,000 per month.
Clinton left Bush a spending of 1800 B Per Year.
Bush doubled it to 3600 B.
Bush inherited a 5700B Debt from Clinton.
He took it to 11,900B
His big borowing enriched the ultra Rich..
Had he not given the rich Huge Tax Cuts he would have had a huge surplus.
His Tax Cuts for Rich deprived Treasury of $8500B of Revenue.
No Tax Cuts and Bush would have had a $2300B Surplus.
20 years of 3 conservative presidents had this Horrible record.
Took the Debt of less than 1000B after 200 years and added on 8000B.
In 2009 they are spinning big time to blame Obama for huge debt.
Conservatives will spend millions to coverup their Big Recession.
Much of that 8000B Debt add-on went to WALL STREET GAMBLERS.
How else did we go from 10 Billionaires in 1980 to 1100 (recheck this)in 2009???
The people do not know what has happened to them.
Shhh! Do not awaken sleeping Democrats.
Wearing Wall Street Silencers $$$$$.
Forbes list of 400 Richest reveals how many became Billionaires via corporate
takeovers and Hedge Gambling- 403 Multi-Billionaires—Avg Worth 3B
(1980=10Billionires)----(1989=51)-----(2009=1100)
Spectrum reports-7.8 Million families with worth over one million in 2009 up from 6.7 million a year earlier S&P up 68% over past twelve months—roll dem dice
4,2% pay in top bracket. Earn $372,000 up to 2000 million(2 billion)
How many Net new jobs created?
Carter + Clinton=222,000 per month
Reagan+Bush I+Bush II= 99,000
2500 Billion in Reagan + Bush Tax Cuts= many Billionaires
Right Wingers yell--- Rich Pay most of taxes.
Income Taxes!Yes! They have most of the income.
From 1997 to 2001 the rich 1% took 24% of total national individual income “growth”\
CBO study of 2003 distribution of corporate profits—Top Income Earners-1% took 49%--5% took 76%-- bottom 80% took 8%
2007—1% got 23.5% of total individual income
In 1977 Capital Gains Tax was 39.8% now 15%
Republicans look out for Country Club/Wall Street po folks!!
Tax Cuts have Consequences. Some Good. Some bad. Some Horrible.
.Yet! Conservatives transferred much of taxation (fed-state-local) from Rich to Middle Class. Reagan elimination of REVENUE SHARING a disaster for Middle Class where taxes were transferred from Rich Income taxes to Middle Class in State and Local Taxes. Five Cent Gas increase. Tax on Payroll (SS)Income.
Was it a Designed Act of taxation transfer by Conservatives.
In 2008 the Middle Class paid about 30% of nominal Income in Federal-State-Local Taxes.
Top 10% paid 30% also. Progressive tax system?
Social Security Tax Increase in 1983 was it designed to hit the Middle Class and ease on the rich?
Greenspan + Reagan + Democratic House + Republican Senate. Payroll Tax Increase on Middle Class.
Was Destruction of S&Ls a deliberate act of wealth transfer from 400 local investors to individual Rich on Wall Street? Could anyone be that evil? Yes!
Key actor Michael Milken became a Multiple (10) Billionaire with income of 550 Million in one year from raiding S&L deposits (plus) for his Rich Corporate Raiders on Wall Street.
Raiders like Perelman(worth 10B) and Ichan(worth 10B) became multiple Billionaires.
Sweat of Brow? Ho Ho. Coal miner pays 28% Tax Rate destructive investors pay 15%.
Bush I had to borrow 140 Billion on 40 year bonds to pay for the raids on S&L's by Wall Streeters.
140B creates many Billionaires and Millionaires. Depositors money was used by those Corporate Raiders and bankrupted the S&L then the government pay off to depositors by Federal Deposit Insurance created Debt for Middle Class. Bush I said “Depositors will not lose one nickel”.
Most had less tha $50,0 the guarantee by FDIC.. Rich got all. Sound like another Bush 2008 Bailout.
The Tax Panel estimates that in 2010 the top 1 million with incomes exceeding $500,000 will earn 241 Billion more than 80 Million who will earn under $40,000.
CHRIST, WHERE ARE THOU? Poor Poor Poor Poor. Care For The Least. Share Share.
RAPE OF MIDDLE CLASS 1980-2007
Same ideology gave us Great Depression now Great Recession.
It is not a Depression due to:
Democratic Social Safety Nets such as
Social Security and Medicare and Unemployment Insurance
Only the uninformed vote to send conservatives to Washington.
Some type of Revolt will take place in next decade.
Democrats will continue to allow Conservatives with their huge right wing talk shows spreading lies to blame them. Rush Dimbaugh is allowed 15 hours per week to spread his lies to gullible people.
Democrats need a national Megaphone informing all the people as to what has been done and how they have been RAPED by a few million RICH on Wall Street who have taken their Wealth.
I ask one thing.
PROVE ME WRONG. With numbers and facts not usual vile name calling
Political Research Historian since 1991 on Reagan-Clinton-Bush administrations.
author-Lifeaholic-Workaholic to Lifeaholic success
author-unpublished
All American Party-How Democrats created a great successful Middle Class and how Conservatives are determined to destroy it
Available fo Mean Lectures.
Old ugly mean honest
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