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What happened to America?


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"There’s a vast disconnect between what we are now and what this country used to be. I know that makes me sound like an old man — and perhaps I am — but it’s true. The U.S. used to have a social compact that if you worked hard your whole life, you could build a decent savings, buy a house, and retire with a great pension and health care. Your kids could go to school and then get a great job, and you didn’t have to worry about them living with you forever for lack of decent jobs."

 

(from the Robert Reich film "Inequality for All.")

 

 

Then Republicans destroyed it all. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%.

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...As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%...

What effect do you think the permanent underclass has had on America ?

 

The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a think tank that advocates for lower taxes. ...The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all....

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What effect do you think the permanent underclass has had on America ?The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a think tank that advocates for lower taxes. ...The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all....

We had that argument during the debates and afterwards. You lost on both counts. Badly.

But never underestimate the stupidity of a republican to keep fighting losing battles.

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What effect do you think the permanent underclass has had on America ?

 

The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a think tank that advocates for lower taxes. ...The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all....

No mon, no fun. When the consumer ceases to have money to spend, businesses close, more people are laid off, factory's close, more people laid off, workers pay more taxes making less wages and benefits to support idleness, GDP falls, and a greater tax burden is placed on those who can afford to pay. So no surprise here about the top 1% paying the majority of the taxes, who else could afford to pay them!!! But that ideal doesn't make America and its people prosper, does it?

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"There’s a vast disconnect between what we are now and what this country used to be. I know that makes me sound like an old man — and perhaps I am — but it’s true. The U.S. used to have a social compact that if you worked hard your whole life, you could build a decent savings, buy a house, and retire with a great pension and health care. Your kids could go to school and then get a great job, and you didn’t have to worry about them living with you forever for lack of decent jobs."

 

(from the Robert Reich film "Inequality for All.")

 

 

Then Republicans destroyed it all. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%.

we took capitalism to its logical conclusion.

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Big business interests seized the power from the people around 1979. It started with the Powell Memo, in 1972(Google it, Lewis Powell memo)

 

I remember sitting with a friend in 1981, after Reagan took over, who was reading a newspaper by the pool. He expressed great alarm at some article, and I said to him:

 

"This is unbridled FASCISM that has taken over, Brian". Forget the old America now."

 

His face turned white, and he said; "What do you mean? Fascism?"

 

I said; "You will find out soon enough!" :(

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we took capitalism to its logical conclusion.

Whom is this royal we you seem to speak for? A little self anointed aren't you? At least I give physical absolutes to address being equally created as everything living a lifetime in this specific atmosphere using the same content all the time while my context seems incoherent because most every body of social identity only thinks on track to predetermined conclusion existing beyond the moment here now..

 

Not my fault reality is constructed that way.

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