Off-the-charts income gains for super-rich

[Capt Bringdown]

There's really no serious debate about the overall realignment of income in our age: The already super-rich have vastly increased their share of the pie--at the expense of everyone else.
(http://news.yahoo.com/s/yblog_thelookout/20110408/ts_yblog_thelookout/off-the-charts-income-gains-for-super-rich)
In recent years, we've been hit with a barrage of statistics, charts, and even full-length books, documenting how inequality is on the rise in America.

But very few of them capture what's happened over the last 30 years or so as well as this image:
http://l.yimg.com/a/i/ww/news/2011/04/08/inequality.jpg

[boutons_deux]

Over the same period, corporate taxes as percentage of total tax take has dropped from 40%+ to about 20%. Since spending has not decreased, that means every tax break, subsidy, tax credit for the corps and capitalists is a tax increase on Human-Americans.

The VRWC campaign to enrich and protect itself while raping the non-VRWC has been and will continue to be a huge success. And there's nothing the non-VRWC can do to stop being screwed. It will continue to get worse for Human-Americans.

It is well documented that after the Medicare/Medicaid/integration programs of the 1960s combined with the American defeat in VN, the VRWC got organized from the mid-1970s and The American Dream became more and more of a dream for more and more people.

Anybody who denies the VRWC exists is shilling for the VRWC.

[Capt Bringdown]

Well, we're starting to see more and more reports such as this even in the MSM. Hopefully we're beginning to see a new dawn of growing class consciousness.

[boutons_deux]

"new dawn"

nah, It's not even Mourning in America. Human-Americans are too fucking fat, diseased, pill-popping, lazy, stupid, addicted to shit culture, naively swallowing FCM lies. Military grunts have been fed the lie that they are defending, fighting for democracy and freedom, when they are nothing but sacrificial goats for the VRWC predations around the world.

There's no way to counter the laser-like, well-financed, well-organized, disciplined VRWC Class War on Human-Americans.

[nkdlunch]

huge sign that the empire is crumbling

[boutons_deux]

yep, UCA is in steady decline, with non-stop, unstoppable corruption and paralysis in federal govt, all branches, as paid for by the VRWC to maintain and increase its wealth and power.

[EVAY]

The thirty-year time frame does sort of correspond to the implementation of supply-side economics, doesn't it?

[EVAY]

It is also true that the time frame corresponds to the emergence of mega-celebrities in both entertainment and industry, with their attendant fortunes.

[coyotes_geek]

What that 30 year timeframe corresponds to is a 1200% increase in the stock market.

[boutons_deux]

yep, it all started in mid-70s, after the Repugs got humiliated by Tricky Dick's resignation (they did get him pardoned by that dumbfuck ), and America humiliated by getting its ass kicked in VN.

All they needed was getting St Ronnie elected to get the VRWC shit ball rolling, resulting in short order in reduction in taxes on the wealthy and raising taxes on the everybody else, and then the S&L bailout paid for of course by Human-Americans, and the stock market bubble popping in 1987.

"1200% increase in the stock market"

which corresponds to nothing in the Real World, with most of stocks and bonds being held by the very wealthy. It's their private ATM.

[boutons_deux]

"The shift of all these taxes from corporations to individuals and families has been pushed with the help of a Big Lie – growing from a small kernel of truth – told by corporate America, its lackeys in Congress and the media it dominates just about every day: that American companies face some of the highest taxes in the world.

The kernel of truth is that, at 35 percent, we do have one of the highest statutory corporate rates in the world – that is, the rate that's written down in the tax code. But what's written in the tax code is inconsequential compared to the number written on checks sent to the IRS.

What US companies actually pay in taxes is among the lowest figures in the developed world. The effective tax rate is what companies actually fork over. As the non-partisan Center for Budget and Policy Priorities (CBPP) explained, the 35 percent rate the corporate mouthpieces on CNBC are always whining about “does not take into account the generous depreciation rules, exemptions, deductions, and credits (some of which are sometimes termed 'loopholes') that corporations may be eligible for.”"

http://www.alternet.org/module/printversion/150509

[boutons_deux]

http://images2.dailykos.com/i/user/6/mellon.jpg

You won’t find many photos with smiles on the face of Andrew Mellon, the U.S. treasury secretary back in the 1920s. The exceedingly dour — and fabulously wealthy — Mellon may be smiling someplace now. His spirit lives.
Andrew Mellon
Mellon, a Pittsburgh financier, began his dozen years atop Treasury in 1921. He rated, at the time, as one of the world’s richest men. One of the most determined, too.

Mellon came to Washington as a man on a mission. That mission: to slash federal income tax rates on his fellow rich — and himself, of course, too. He succeeded.

In 1921, America’s richest faced a 73 percent tax rate on income over $1 million. By 1925, Mellon had maneuvered that top rate all the way down to 25 percent.

Last week Rep. Paul Ryan from Wisconsin, the go-to guy on taxes for the GOP House majority, channeled his own personal Andrew Mellon. He introduced, with great fanfare, the official Republican budget for America’s next fiscal year — and decade. His budget's maximum tax rate on top-bracket income: 25 percent.

Andrew Mellon’s 1920s handiwork would eventually pour $72 billion, in today’s dollars, into wealthy pockets and set the table for the wildest speculative bubble Wall Street had ever seen. That bubble would burst into the Great Depression — and impoverish, in the process, tens of millions of Americans.

Mellon opposed, right up until his 1932 exit from Treasury, any efforts to get the federal government to come to the aid of those millions. Hard times, he told President Hoover, didn’t have to be “altogether a bad thing.”

“People will work harder,” Mellon pronounced. “Values will be adjusted, and enterprising people will pick up the wrecks from less competent people." ...

http://www.dailykos.com/story/2011/04/10/963516/-Open-thread-for-night-owls:-Andrew-Mellon,-tax-cutter-extraordinaire?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dailykos%2Findex+%28Daily+Kos %29

[boutons_deux]

http://thinkprogress.org/wp-content/uploads/2011/04/military_spending_big.png

http://thinkprogress.org/2011/04/11/military-spending-doubled-since-2001/

MIC is the military branch of the VRWC, a vampire squid sucking $Ts of wealth from Human-Americans.

Repugs want to cut spending on Human-Americans, while increasing spending on the MIC.

[ManuBalboa]

It's fucked up. What are you or anyone else going to do about it? Nothing.

[DarrinS]

rich people are evil

[Wild Cobra]

But very few of them capture what's happened over the last 30 years or so as well as this image:
http://l.yimg.com/a/i/ww/news/2011/04/08/inequality.jpg

Think about akll the variables.

One to consider is the rich usually invest in stocks, others don't. Stocks increased in value about 5 times from 1946 to 1976 and about 20 times from 1976 to 2007.

[LnGrrrR]

rich people are evil

Poor people are lazy

-DarrinS

[boutons_deux]

http://www.truthdig.com/images/eartothegrounduploads/wolv762-363.jpg

[Wild Cobra]

http://www.truthdig.com/images/eartothegrounduploads/wolv762-363.jpg
So lets start eliminating the subsidies.

[boutons_deux]

"So lets start eliminating the subsidies."

Your Repug buddies, like Ryan, want to START by screwing the poor, the old, the sick, the young and they'll NEVER get around to cutting the lost revenues from corps.

[Wild Cobra]

"So lets start eliminating the subsidies."

Your Repug buddies, like Ryan, want to START by screwing the poor, the old, the sick, the young and they'll NEVER get around to cutting the lost revenues from corps.
That's no true. They just want to turn the hammocks back into safety nets.

[SnakeBoy]

http://l.yimg.com/a/i/ww/news/2011/04/08/inequality.jpg

That's not off the chart.

[Nbadan]

it's the ugly truth staring Americans right in the face, and while we entertain ourselves playing Red team versus Blue team....we are inept to do anything about this political reality...that the kind of tea party we need....not this anti-poor, anti-environment, anti-immigrant tea party....

[Spursmania]

I see nothing's changed here:lol