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News & Politics News & Politics

"You cannot multiply wealth by dividing it."

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This is a spin-off from gsprofval's post: 5 Truths You CANNOT Disagaree With

in which 'truth' #4 is:

You cannot multiply wealth by dividing it.

If you have $100 then it makes no difference whether you keep it in a single account, or if instead you divide it, so you have $50 in one account and $50 in a second account.

If we now allow time to pass, and the interest rates on the accounts varies depending on how much is in the account, (for example, if you earn 5% on balances over $80, but only 2% on balances under $80), then it will make a difference.  However, as long as the interest rate is positive (and above the rate of inflation), your wealth will still be multiplying, even if you have divided it.

A better example than dividing it between different bank accounts in the same bank is moving half to a different bank, or putting half into the stock market.   If you do this correctly, you can get a higher return for the same level of risk (or a similar return, but for a lower level of risk).  Dividing wealth is often the sensible prudent thing to do.

On a different level, the same thing happens in families.   You could give all the wealth to the person you think it best at investing, but in the long run using that strategy it only takes one mistake and the entire dynasty's wealth is squandered.  A safer route is to divide the wealth among different family members, letting each increase the part of the pool they are responsible for, as best they can.  Some will fail, and some will do fantastically; and if you don't have a family full of fools, when it comes to divide things out among the next generation, the total wealth of the dynasty will have increased.

We can take this reasoning a step further.  It doesn't make sense, on a national level, to leave 80% of the country's wealth in the hands of only 20% of the population.  You'll get a better rate of return by spreading things out sufficiently for most people to stop living hand-to-mouth, buying things that are cheap rather than things that are efficient.

NOTE 1:

A $10 pair of shoes that lasts 1 year is cheaper than a $20 pair of shoes that last 5 years, but the latter is a more efficient use of money.

NOTE 2:

I made up the 20%:80% figure, because I can't remember the correct numbers off hand.

by on Feb. 8, 2013 at 3:33 PM
Replies (31-40):
pvtjokerus
by Gold Member on Feb. 9, 2013 at 1:34 PM

 Ok.  Why do you think that they do not apply to today?  What was the difference?  Because today it doesn't apply.


Quoting autodidact:

 

No I'm saying that when I posted refers to a period of time when taxes were actually high

Quoting pvtjokerus:

 So you are saying that this does not apply to now?

 

Quoting autodidact:

no, this refers to the 50's when the taxes were actually high.

 

Quoting pvtjokerus:

 I completely disagree with this.  Taxes have been climbing higher and higher for the middle class and small business and these people are hunkering down and not spending their monies like before.  Look at the holiday sales.  They were down.  Look at economic growth now.  It is down.

 

Quoting autodidact:

Expanding a business and hiring more people is a tax write off. No business owner uses an after tax write off to expand a business, but uses it to buy a boat, second house, send the kids to college, play in the stock market, or buy real estate, that inflates prices for everyone else. But when taxes were high businesses invested in themselves and used their money productively in the economy, hiring more people. Investing in their business increased the worth of that business when sold at a low capital gains rate.

http://www.thomhartmann.com/users/dan4liberty/blog/2012/08/californias-golden-age-high-taxes-and-greatest-growth

 

 

 

 

 

 

 

 


 

autodidact
by Silver Member on Feb. 9, 2013 at 1:35 PM


What don't you tell me why you think It doesn't apply?

Quoting pvtjokerus:

 Ok.  Why do you think that they do not apply to today?  What was the difference?  Because today it doesn't apply.


Quoting autodidact:


No I'm saying that when I posted refers to a period of time when taxes were actually high

Quoting pvtjokerus:

 So you are saying that this does not apply to now?


Quoting autodidact:

no, this refers to the 50's when the taxes were actually high.


Quoting pvtjokerus:

 I completely disagree with this.  Taxes have been climbing higher and higher for the middle class and small business and these people are hunkering down and not spending their monies like before.  Look at the holiday sales.  They were down.  Look at economic growth now.  It is down.


Quoting autodidact:

Expanding a business and hiring more people is a tax write off. No business owner uses an after tax write off to expand a business, but uses it to buy a boat, second house, send the kids to college, play in the stock market, or buy real estate, that inflates prices for everyone else. But when taxes were high businesses invested in themselves and used their money productively in the economy, hiring more people. Investing in their business increased the worth of that business when sold at a low capital gains rate.

http://www.thomhartmann.com/users/dan4liberty/blog/2012/08/californias-golden-age-high-taxes-and-greatest-growth
















pvtjokerus
by Gold Member on Feb. 9, 2013 at 2:06 PM

 I already did.  I am just trying to figure out why you think it applied back then when it doesn't appy now with our higher taxes.


Quoting autodidact:

 

What don't you tell me why you think It doesn't apply?

Quoting pvtjokerus:

 Ok.  Why do you think that they do not apply to today?  What was the difference?  Because today it doesn't apply.

 

Quoting autodidact:

 

No I'm saying that when I posted refers to a period of time when taxes were actually high

Quoting pvtjokerus:

 So you are saying that this does not apply to now?

 

Quoting autodidact:

no, this refers to the 50's when the taxes were actually high.

 

Quoting pvtjokerus:

 I completely disagree with this.  Taxes have been climbing higher and higher for the middle class and small business and these people are hunkering down and not spending their monies like before.  Look at the holiday sales.  They were down.  Look at economic growth now.  It is down.

 

Quoting autodidact:

Expanding a business and hiring more people is a tax write off. No business owner uses an after tax write off to expand a business, but uses it to buy a boat, second house, send the kids to college, play in the stock market, or buy real estate, that inflates prices for everyone else. But when taxes were high businesses invested in themselves and used their money productively in the economy, hiring more people. Investing in their business increased the worth of that business when sold at a low capital gains rate.

http://www.thomhartmann.com/users/dan4liberty/blog/2012/08/californias-golden-age-high-taxes-and-greatest-growth

 

 

 

 

 

 

 

 

 

 

 

 


 

mommom2000
by Bronze Member on Feb. 9, 2013 at 3:11 PM
1 mom liked this

 Sorry but numbers don't lie. Facts are facts.  People are making less today then they were 30 years ago.  More people are living in poverty today then ever before.  The Middle class and the poors  income as decreased, not increased.  They are not making more today.  Your scenarios are agent history. The American dream has been dying. This didn't start in the 60's, life was pretty good for the middle class in the 60's and 70's.  It was the 80's when they took control of the management of wealth,this is when they cut wages to increase their salaries, and the expense of the worker.


Quoting susan115:

 

I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.

 

 


 

Carpy
by Platinum Member on Feb. 9, 2013 at 3:37 PM
1 mom liked this
Obama did not start out poor.

Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 


Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.




Posted on CafeMom Mobile
stacymomof2
by Bronze Member on Feb. 9, 2013 at 4:19 PM
2 moms liked this

Those numbers are not skewed.  She is not referring to dollar amounts, she is referring to a proportion of the whole.  The whole amount has grown, true, but the proportion that is ending up with the middle class is drastically smaller.  With 40% of our country sharing 2% of the available money, how do you suppose there is a chance to move up?  They are barely getting anywhere.  

Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.




susan115
by on Feb. 9, 2013 at 4:20 PM
1 mom liked this

Yes, I agree people are poorer today than in the last 5 yrs., It did not start in the 1980's, what happened in the 1980's is technology changed, very quickly, the way of doing business changed.  We did not need 3 people doing the same job.  Computers changed alot of the way we do things, get information, some people couldn't or wouldn't change.  Now, add the environmental laws that were put into place to keep businesses from continuing their operations here, cheaper to do it elsewhere.  The 1980's in Pittsburgh, with all the steel mills? please, those union workers refused to take a dollar pay cut, that would of saved many jobs.  Life was not good in the 60's and 70's it was stagnet, but difference.  Huge difference between poor and middleclass.  Since, the 1980's people have been able to move up, despite your facts.  Go to U.S. gov. labor statics, you will find you answer.  I, also, remember, in the 1980's telling people what jobs are for the future. Some listened, others didn't.  You need to work hard, not do the blame game.


Quoting mommom2000:

 Sorry but numbers don't lie. Facts are facts.  People are making less today then they were 30 years ago.  More people are living in poverty today then ever before.  The Middle class and the poors  income as decreased, not increased.  They are not making more today.  Your scenarios are agent history. The American dream has been dying. This didn't start in the 60's, life was pretty good for the middle class in the 60's and 70's.  It was the 80's when they took control of the management of wealth,this is when they cut wages to increase their salaries, and the expense of the worker.


Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.







susan115
by on Feb. 9, 2013 at 4:22 PM


One can move up if you work hard, take the right classes, and stop whinning about others have, yes one can move up.

Quoting stacymomof2:

Those numbers are not skewed.  She is not referring to dollar amounts, she is referring to a proportion of the whole.  The whole amount has grown, true, but the proportion that is ending up with the middle class is drastically smaller.  With 40% of our country sharing 2% of the available money, how do you suppose there is a chance to move up?  They are barely getting anywhere.  

Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.






susan115
by on Feb. 9, 2013 at 4:31 PM
1 mom liked this

I think you are missing the point, where is the money coming from?  Who holds the purse strings?  In economics I was taught that the pie expands when money flows, meaning more for those that work hard, but are you saying that there just isn't enough money to go around?  I, honestly, I am sure what you are saying.  The government can't just print money, they have to bring in revenues, right.  That money comes from those that work, correct?  So, when less people work and companies cut back because of taxes are to high less for the workers, less revenues for the government, correct.  So, if half the country takes assistance from the government and the other works, yes there will less of the pie, higher taxes.  When your insurance goes up by 2500.00 you have to take less home.  Which means your standard of living goes down.  It makes perfect sense to me.  Keep the government working for the people, not the other way around.  By  the way, only a history teacher.


Quoting stacymomof2:

Those numbers are not skewed.  She is not referring to dollar amounts, she is referring to a proportion of the whole.  The whole amount has grown, true, but the proportion that is ending up with the middle class is drastically smaller.  With 40% of our country sharing 2% of the available money, how do you suppose there is a chance to move up?  They are barely getting anywhere.  

Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.






stacymomof2
by Bronze Member on Feb. 9, 2013 at 4:46 PM

Sure, a little.  But the chances of moving from poverty to even middle class is very low.  The jump from middle class to rich is even more difficult.  People are way more likely to move from middle class to poverty than the other way.

Quoting susan115:


One can move up if you work hard, take the right classes, and stop whinning about others have, yes one can move up.

Quoting stacymomof2:

Those numbers are not skewed.  She is not referring to dollar amounts, she is referring to a proportion of the whole.  The whole amount has grown, true, but the proportion that is ending up with the middle class is drastically smaller.  With 40% of our country sharing 2% of the available money, how do you suppose there is a chance to move up?  They are barely getting anywhere.  

Quoting susan115:


I am sorry to tell you those numbers are skewed.  This started way before Reagan.  In the 1960's.  and no the top 1% maybe taking more, but so has the middle and bottom.  Many americans have made it into the top earners and many people from the bottom have made it into the middle and top.  If you go back further the top 2% have owned the majority of the wealth since the 1400's.  Now, the pie does get bigger when more people create wealth.  Example, is healthcare, healthcare is so much better today than it was in 1978.  Why, science got better, innovations kept improving, people got rich, yes poor people and middleclass, people lived longer and longer better healthcare.  Look at computers, many people became rich with different software designs, and all the technology. Hardwork brought people out of povery.  The vacuum cleaner was designed for the working people, look how it made your life easier, again made for the working, not the rich.  Reagan was a great president who had a vision for the country.  His vision "Government is not the solution"  Obama's statement in 2004 "the constitution does not state what the government can do".  The middle class and poor will do better with politicans who work for them, not themselves.  Lately, all we have are people who are jealous of what others have achieved and not willing to do the work to succeed.  How, did Obama become a millioniare?  He started out poor. 

Quoting mommom2000:

The facts are that this country does have a problem with the redistribution of wealth, and the rich are kicking everyone's ass in that war. It's not stealing to try to revive the middle class, policies can be changed that helps everyone in the economy, not just the top 2%.  It's policies since Reagan and the 80's that have allowed the rich to sky rocket while the middle class to decline. Since 1980 the top 1% have went from having 9% of all the wealth to 20% of all the wealth. The bottom 50% have 1% of the wealth..  When the top 1% keep increasing their share of income,  everyone else loses purchasing power.   In 1950 manufacturing use to account for 29% of GDP and financial services accounted for 11%. Now manufacturing is less then 12%, while finance is 20% higher then manufacturing, health, wholesale and retail combined. The richest 2% own 51% of the wealth. 691 people in the world now hold 51% of the worlds assets. With these staggering numbers policies should be helping the middle class, not the top, they don't need it.  With this economic model they are making out like bandits. Trickle down economics has been a huge success for the wealthy, and a failure for everyone else, yet the conservatives keep buying and selling this myth.  The numbers and facts don't lie, this theory has hurt 90% of the people in this economy.







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