For once we agree with U.S. President Barack Obama …
During a recent economic speech, Obama noted that the current status of the American economy has “jeopardized middle class America’s most basic bargain, that if you work hard you have a chance to get ahead.” Ironic when you consider of all the boots pressing down on the neck of the middle class, his is most oppressive.
Obama has presided over the greatest upward transfer of wealth in nearly a century – and has saddled future generations with trillions of dollars in new deficit spending in the process.
Anyway according to a new Bloomberg survey 64 percent of Americans agree with Obama that their home country no longer offers everyone an “equal chance to get ahead.” Meanwhile 73 percent of Americans making $50,000 or less believe the economy is unfair. Yet while there is consensus on the problem Bloomberg notes reports “respondents are almost evenly split on the need for government action to narrow the income gap: 45 percent say new policies are needed, while 46 percent say it would be better to allow the market to operate freely even if the gap gets wider.”
Interesting … too bad there’s not a political party out there representing that free market perspective.
Bloomberg’s survey – taken from December 6-9 – comes as America’s richest 10 percent are earning more than 50 percent of the nation’s income. That’s the highest upward concentration of wealth on record since 1917.
Guess Obama was dead serious when he told Joe the Plumber he wanted to “spread the wealth around” – and less serious when he spoke of creating a “rising, thriving middle class.”
He sure as hell lied through his teeth (repeatedly) about not raising taxes on the middle class.
Bottom line? Income inequality in America is a direct result of misguided federal monetary policy as well as government bailouts and crony capitalism at all levels of government. And until these policies are reversed, we will continue to see this gap expand.
57 comments
We’ve tried taxes and regulations for decades. They don’t work. How does half the country still think that’s the solution?
They are willing to try socialism over and over again despite the failure of it through out history. That also goes for the debasement of the currency.
Those in charge probably know what’s going on and don’t give a damn as long as they are enriched.
The little people are getting more educated recently due to the internet and some loss of information/history gate keeping that was done by the public schools, bought MSM’s and most colleges(whether it’s via public funding or simply accreditation).
Really though, it’s still slow going. I hope for the sake of humanity that information continues to move in the direction of decentralization/freedom, but people have to have enough leisure time to seek it out which requires a good standard of living/economy.
Maybe in the next 100 years the cycle of failure via the repeat of history will end when people are better educated.
There’s too much misinformation on the internet for it to be considered a source of education.People are being brainwashed,and losing the ability to think for themselves.Most blogs and ‘news’ web-sites prey on peoples’ ignorance,with ‘unfair and imbalanced’ BS.
Ok, so you are a liberal poking the stick at people getting their news on the internet. So where would you rather I get my news, from Ed Slubtz?
So they teachers to brainwash them instead of the internets?
edit: “they NEED teachers”
A column written in total ignorance of the political and economic drivers of income inequality.
Labor’s income as a share of GDP began to fall in Reagan’s first term, and is now at historic lows. While national productivity has increased over 250% since 1948, hourly compensation, which tracked the growth of productivity until about 1973, has remained nearly flat since then, rising only 113% since 1948, and only 13% since 1972.
Part of the cause has been the negative balance of trade since 1976, now more than $500 Billion per year. Not only does this negative balance of trade impact middle-class earnings, it is a drag on the economy due to lost domestic employment.
Who has benefited from this state of economic affairs? It isn’t the working man.
“Part of the cause has been the negative balance of trade since 1976, now more than $500 Billion per year. ”
Have you ever thought about how we can sustain a long term trade imbalance or why it’s currently makes economic sense to do so ?
Money printing.
Which in turn preps the country for a more socialist agenda.
Its the top 5% who have benefited, and only an idiot would believe Obama had anything to do with that. As you point out, the average American was doing fine until the Reagan Administration, the rise of trickle down economics, and free trade with countries that do not practice free trade in return. Since then income gains by the middle class have ceased to exist while gains by the wealthiest 5% of the country have sky rocketed.
The drivers of upward wealth redistribution have all been Republican priorities.
I can’t fully agree with that. Demlicans have been just as eager to pass these laws as Republicrats. The POTUS is just a signatory.
Its the top 5% who have benefited, and only an idiot would believe Obama had anything to do with that.
Considering Obama kept Bernanke in the chair and let quantitative easing feed the big banks, bailed out the big banks, and even appoints several people from big banks to various positions (especially Goldman Sachs), and was funded in large part by the big banks in 2008, I can’t really agree that Obama “had nothing to do with” our already bad situation getting worse.
Keep in mind that these same banks greatly funded Romney in 2012, as well as Romney slipping that he would also keep Bernanke around, so it isn’t like we had a choice anyways. In this regard, a vast majority of elected officials, in both parties, are pretty complicit.
Nicely said Smirks.
I wonder what percentage of the 73% making less that $50.000/yr are making min. wage or thereabouts? If I am making $49.500 I see the economy a little differently than if I am making $15.000.
I agree, but if I was making $15,000 a year I would take a hard look in the mirror and decide what I need to do to become more valuable in the marketplace.
I’d head down to the nearest Martin Luther King Boulevard, and see if I couldn’t get a corner.
If you look at what is available to consumers today compared to 1948, I do believe people have more of what they don’t need as to what they do need. Some of what they do need they refuse to purchase because the government will take care of them which in turn allows them to purchase what they don’t need.
Welcome home, Brother.
I’ll gladly pay you Tuesday for a hamburger today.
Obama has presided over the greatest upward transfer of wealth in nearly a century
Read more at https://www.fitsnews.com/2013/12/11/america-the-thrill-is-gone/#GZfSKdJkEDW6B8B6.99
Obama has presided over the greatest upward transfer of wealth in nearly a century
Read more at https://www.fitsnews.com/2013/12/11/america-the-thrill-is-gone/#GZfSKdJkEDW6B8B6.99
Obama has presided over the greatest upward transfer of wealth in nearly a century
Read more at https://www.fitsnews.com/2013/12/11/america-the-thrill-is-gone/#GZfSKdJkEDW6B8B6.99
Obama has presided over the greatest upward transfer of wealth in nearly a century
Read more at https://www.fitsnews.com/2013/12/11/america-the-thrill-is-gone/#GZfSKdJkEDW6B8B6.99
“Obama has presided over America’s greatest upward transfer of wealth in nearly a century”
You sound like a socialist.
This website design sucks balls.
Yeah I really hate the copy/paste thing here. You hit Ctrl + V and nothing pops up in the comment box, but oh, it is there. (If you hit refresh, it will magically appear.) And then the “Read more at” line being automatically added is also annoying.
(The glitchy thing is likely Disqus’ fault, but the adding-a-line thing is likely just how FITSNews is set up.)
Obama,…..Ohaley……=Oshit!!!!!!!!
Hells Bells! After seeing that ‘Merican flag, I was pleased to know this wasn’t a Grand Tango authored rant.
Republicans pretty much fucked us in the ass, huh?
The red, white, & blue dick is non-partisan. All the pols want a piece of that tax payer ass.
Republicans excel
So do Dems.
Republicans take the money and keep it. Democrats take the money and redistribute it.
Sociopaths vote for Republicans.
lol, well that pretty much sums it up eh? That’s a nice & tidy world view.
Expounding on your worldview, sociopaths vote for Dems too, anyone that endorses violence & theft as a way of helping people is such as well.
It really doesn’t matter much what the robber does with his stolen loot, contrary to the Robin Hood fantasies. Theft is theft.
The only bone I’ll throw to some Republicans is that they think all the war spending is actually “protecting” us. (what % believe this, I have no idea)
Just like some Dems think all the welfare spending “helps” us.
That’s a nice & tidy world view.
=========
wait’ll you hear my latest “vapor canopy” theory!
they think all the war spending is actually “protecting us”
——-
bullshit
“bullshit”
I qualified it with “some”.
“I don’t mind if you don’t like my manners. I don’t like them myself. They’re pretty bad. I grieve over them on long winter evenings.”
http://www.youtube.com/watch?v=3_rDvbrwOcw
lol, I have no problem with dialogue with you. You are direct and intelligent and I like that.
You aren’t always right despite your intelligence, but neither am I.
I’ll take your word for it that you’re not always right – since you say I’m not always right, I’ll assume that’s one of the more glaring instances.
So, who are the hot chicks around here? That biker chick SCBlueWoman looks pretty fucking hot. She reminds me of that scary RoguePlanet chick at the Suck Bang Blow. Can you arrange an introduction?
She’s not.. uh, too “rough” is she? There’s an episode of Futurama I’m not in any hurry to duplicate… you know, that “snu-snu” one?
lol…I have no idea what she looks like. She is pretty hard left in her viewpoints by the current spectrum.
She doesn’t like me one bit, says I’m “full of myself”. It’s probably true.
I think she’s a closeted commie and fairly militant black though I can understand why blacks can be both at times.
Though I understand it, I still don’t condone taking shit from other people against their will. It rarely solves much, aside from the demoralizing effect is has on hard working people.
I don’t know who the hot chicks are here, I’m married so don’t I think about it too much unless it’s “in my face”(meaning pics, stories, etc.) and then it’s only for entertainment purposes as I’m happy overall in my marriage. I’m now the worlds least dangerous man when it comes to women.
Sic’s wife is pretty hot, but she keeps a low profile when it comes to this site from what I can tell. He doesn’t post much in the way of babe pics much anymore, I’m assuming between the wife, his faith, & a bit more age he’s probably is moving away from that.
I’m married too, but that SCBlueWoman has got some kickin’ knee length boots. I’m just lookin’ for a little political porn, nothing nasty… a few nekkid pics…. you know, on the down low.
“They want a man with the balls to BE a man is all. Most men are too
wimpy to put them in their place. [did I just say that out loud?]”
Exactly.
Sabbath is universal good.
I knew a bankrupt accountant from the 90’s, he became a viatical scammer and immediately rich before getting caught and thrown in the clink for 12 years. He took a similar career path you describe for some Republicans.
Ultimately US society, politically speaking, has become boring, dull, & stagnant with the current two party paradigm. Labels get tossed around, generalities made, etc. Sure, some are true, but rooting for one “side” or the other on the basis of it seems pointless and is definitely not making anything “better”.
Hopefully one day when a new/different one pops up it will be an actual improvement on what’s going on now.
“Closeted commies are my cup of tea – the greatest good, and all that.”
I had to think a bit on that comment. So I’m curious, do you actually believe that to be the case or you just like the idealism they have?
Communism and Libertarianism believe in similar gods. Political gods that provide good results without the intervention of government. Sort of like “nature,” only different.
Draw a Venn diagram of Communism with Christianity(not the Republican kind), and you get a lot of overlap.
Capitalism (the Republican kind) doesn’t believe in God of any kind – it’s basically dog eat dog with rules to let you spend your take, and keep torture to a minimum like in war. Oh, they *talk* about God, but what they mean is: “what’s mine is mine, and if you even *think* about taking any off my stack, I’ll pray first, and then I’ll kill you!”
But those are political *systems* – they have to exist in the real world with *people*. Jesus was really smart… he knew no political system could contain his message – he didn’t advocate a system – he advocated a way for the best of us to *behave*. He knew that the Republicans would fuck the sheep, and said so. He said that would identify Christians, that they would be the ones being fucked over.
He also said that one could be happy if they followed his teachings. (Not Republican happiness, meaning the point where the victim stops struggling and they get to do what they like to them).
The “commies” in America (what the Republicans call the innocent who care about other people, and expect government to provide for the sinners, just like Jesus told us *we* should do) are the liberals. They don’t want war, they don’t want suffering… they don’t want lies and hypocrisy. They want *everyone* to have freedom and be free of oppression.
The fly in the ointment is the fucking Republicans. They want to hoard all the resources and power, and call their victims greedy while destroying everything cherished and valuable to the spirit of man.
That’s why communism and libertarianism can’t work. Sociopaths piss and shit on everything beautiful in life.
The brilliance of our system is to harness the greed and the other vices of the Republicans, and use that energy to fuel our civilization.
Oh, but the Republicans don’t want to be chained down to civilization – they see people who aren’t killing each other for a scrap of gold or land who are happy, as fools. They feel that people like that should suffer for not being as industrious as the top 1% – they shouldn’t get a “free ride” – it’s antediluvian for god’s sake!
So, the more altruistic you are, the more fucked up you are, and the more sociopathic you are, the more “sane” you are – at least according to the Republican bible.
So when you tell me someone is a “commie” I think of a gentle person, possibly naive, who sees the best in people. While they are probably getting fucked by Republicans, they’re content with their lot in life, and just want to help.
Again, libertarians and Republicans (and the senile Tea Party) call liberals “commies,” because they don’t put the same value on materialism as they do – and it makes them look like fat, arrogant, stupid materialists by comparison.
Vilifying the victim is their only option.
More blah!blah!blah!
There is a PARTY offering Freedom and Success….It’s called the GOP, you F*@kin idiot…
Go read the Republican Party’s Platform…and follow it…and there would be no problem…
Instead we have these Liberal-Traians like FITS and John McCain free-styling a philosophy and a lot of idiots (FITS followers) buy it…
And all FITS, and cretins like him, do is empower extreme leftists like Obama…who are destroying this country…You are especially damaging to would-be upward and capable white families….who built America….
Oh, horseshit! You want some damn religious nuts to run this country…all they want is to pollute the Earth for big oil, restrict your freedoms, not give you more, and fuck your wife/husband in the ass while talking ’bout family values.
Again : go read the GOP Platform..and read the democrat party’s too…
You have to define the Republican Party according to your myths and fables, and then lie about what you really are…
Otherwise, you’d get the $#!* slapped out of you every time you opened your lying, failed mouths…and you’d lose EVERY election if you told the truth about who and what you are, You worthless piece of liberal S#!t….
PS: If Big Oil means gas prices under most of Bush’s terms, compared to the tax your god Obama has placed on the struggling American people…I’m all for whatever Bush did in place of the total F*#k up Obama is, in every facet of governance.
Boy, you gottcha panties in bunch, now get back to FoxNews.
The funny thing is, it’s his momma’s big ass bloomers. reminds me: His mamma is so grouchy, the McDonalds she works in doesn’t even serve Happy Meals.
You represent the typical creativity and level of thought from liberals. Cornball and country idiots, yet the media tells you are all geniuses, as long as your Dumb@$$#$ keep punching the ‘D’ in the ballot box….
Is it any wonder ObamaCare is your idea…???
God help us.
Your mama’s so fat that Mitt Romney couldn’t afford to take her out to dinner! Hell, she supported the bailout she could get a ‘barrel of pork’.
Gods don’t kill people.
People with gods kill people.
Muslim terrorists murder people because of your god, and you suck their D!*ks because they hate America, as much as you and Obama…
What? They’re murderng people over Donald Duck. What a bunch of mother fuckers! …and why would I be sucking their dicks if they’re not down with Donald? If you have a war against logic, not my problem…
Q: What would happen if you put Capitalism on the moon?
A: The moon rocks would form an union
Q: Is it true, in Capitalism, every votes counts?
A: Yes. Every board member has a right to vote to lay you off.
How am I doing out there? This thing on?
Oil prices? Your mama’s so greezy, her face could stop our dependence on foreign oil.
Obama has presided over a doubling of the stock market, a great transfer of wealth from the rich to the rich. Come on, Dow `16,000……what are you bitching about? Everyone with a 401 k this year did damn good.
Illusory wealth based on increased dollars doesn’t translate to an improved standard of living.
If the Dow was around 11,500 in 2000 and gas was around $1.60/gallon(texas avg) & the price of a dozen grade A eggs was around $.95, with them now being $3.80/gallon & 1.92 then you’ve actually probably become poorer in most cases if you spend a higher % of your income on just “living”(aka as people not rich) despite your 401k raising in numerical value(not as greatly as the cost of living increases).
Let’s not do the right thing – God won’t cover our bets the way he did the bankers and GM.
we borrowed trillions of dollars into existence – why is gas still less than 4 dollars a gallon?
Because we made the poor poorer and the rich richer?
I saw the carnage in East Germany in the 70’s and it was aweful i.e. broken down 40 year old cars in the streets, people cold standing in line for bread etc. Socialism is not great, cool nor fair, understand that fact. If people do not have the opportunity to become an evil rich guy (tongue firmly embedded in my cheek)
then you will not have the innovation nor small companies creating those spinner rims or smart phones the 47% ‘s that pay nothing and take everything love. Bottom line, YOU CAN’T FIX STUPID. What I mean by that is these people, the poor down troddden (for the most part) will continue going to pawn shops and title loan places for money, even if you out and out give them the wealth. This comes from generations of stupidity and not raising kids. Stop throwing good money and bad and trying to socially engineer society. God has it trust me!