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“Spread The Wealth Around” Fail

BARACK OBAMA’S REAL “NORTH STAR?” THE SUPER WEALTHY … By FITSNEWS || Barack Obama was supposed to be the great “middle class champion.” His love of the middle class was, in fact, supposed to be guiding every decision he made. “Our top priority as a nation and my top priority…

BARACK OBAMA’S REAL “NORTH STAR?” THE SUPER WEALTHY …

By FITSNEWS || Barack Obama was supposed to be the great “middle class champion.” His love of the middle class was, in fact, supposed to be guiding every decision he made.

“Our top priority as a nation and my top priority as president must be doing everything we can to reignite the engine of America’s growth – a rising, thriving middle class,” Obama said in a 2013 radio address. “That’s our North Star. That must drive every decision we make.”

Yeah … about that.  And about that whole “first black president” thing.  Neither is working out so well, calling into question what Obama meant when he vowed to “spread the wealth around” back in October 2008.

Wealth has been redistributed under Obama’s reign, don’t get us wrong, but not the way you might have expected.

Just take a look at this interactive chart from The Economist … which shows “a history of American wealth inequality.”  That garnet line?  It’s the “one percent” – a.k.a. the top one percent of all income earners in America.  The blue line?  That’s the rest of us …

(Click to enlarge)

inequality1108k_0

(Chart: Via)

“The ratio of household wealth to national income has risen back toward the level of the 1920s, but the share in the hands of middle-class families has tumbled,” the publication noted, referencing a new study from the London School of Economics. “Tepid growth in middle-class incomes is partly to blame; real incomes for the top 1 percent of families grew 3.4 percent a year from 1986-2012 while those for the bottom 90 percent grew 0.7 percent.”

Look … we’re not populists.  We don’t believe in “bleeding the rich.”

But we also don’t believe in giving them an unfair advantage, either (a.k.a. corporate cronyism).

Level the playing field for everyone and income inequality will take care of itself …

***

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25 comments

Move November 12, 2014 at 9:11 am

I can see how one would have this view living in SC.

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Rome was rich too November 12, 2014 at 9:15 am

Where do you recommend I move to?

I know Washington DC seems to have one of the highest incomes per capita. I have no idea why that is, but it sounds like I should consider DC.

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Jackie Chiles November 12, 2014 at 9:32 am

Your post makes no sense. Please moderate.

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TyroneMamaCollards November 12, 2014 at 9:23 am

I think wealth or the lack of it boils down to the individual. You must aspire to accumulating it legally. You gotta be go-getter. It helps to be an entrepreneur. Avoid having a lot of kids. Avoid a criminal record. Avoid jail. Avoid alcoholism and drug abuse. And it helps to cut the capital gains tax.

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True Dat! November 12, 2014 at 9:28 am

Nice post!

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diamond jim:elections have con November 12, 2014 at 9:38 am

Damn dude. Nice. It is just that simple, it really is. Excellent post.

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vicupstate November 12, 2014 at 9:51 am

That description fits 90%+ of the lower 90%. Look at the chart. They aren’t prospering.

The chart clearly shows that when we had a progressive tax system, the middle class arose and prospered. Starting in 1980 that was reversed, and with it, the fortunes of the middle class.

It isn’t a level playing field when the corporations through their lobbyists/politicians determine what KIND of income (wages) is taxed and what KIND isn’t (capital gains). Why do you think CEOs get paid in ‘stock’ and not salary?

It also doesn’t help when said corporations determine that they get ‘incentives’ while the rest of us pick up the difference.

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RogueElephant November 12, 2014 at 10:32 am

I would add, stay married or stay single. All the swapping and divorce only makes the lawyer class richer. I read the book, The millionaire next door and it lays out a pretty good strategy as well. You can be almost anything you set your mind to be. Basically work hard and think. I’ll never say I’m the brightest light on the block but it is simple to do the best you know how every day. My financial adviser was talking recently and said ” opportunity often comes dressed in work clothes”. Great statement.

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Born at Night, Not Last Night November 12, 2014 at 9:24 am

Using FITS data interpretation methodology (Data, hard data, hardest data):

Middle class household wealth in the US increased steadily from 1930 to 1980, a period of increased government involvement in personal lives and national economic policy. Therefore Democratic influence in Washington is better for our economy and our middle class people.

Middle class household wealth has decreased from 1980 to the present and now is back to 1916 levels. Republicans have held the Presidency for all but 8 years of the past 34. Therefore, Republican influence in Washington is net negative for our economy, particularly the middle class.

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vicupstate November 12, 2014 at 9:53 am

True dat !

Now if the RWNJs would just open their eyes to the truth, instead of the FAUX truth.

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diamond jim:elections have con November 12, 2014 at 9:54 am

American hater.

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Smirks November 12, 2014 at 10:52 am

Coming from someone as hateful as you is really funny.

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diamond jim:elections have con November 12, 2014 at 11:41 am

Hey Smirks. Still obsessed with me? No problem. I enjoy the ‘chase’.
That Obamacare guru that says the the American people are ‘stupid’ and spread all that dissinformation about that law ,reminds me of you.

Both of you operate off the premise of ‘if I have never told you the truth ,I have never lied to you’!!!! ….LMAO!!!!

vicupstate November 12, 2014 at 5:06 pm

I don’t hate American. I only hate those that are trying to destroy that which made her great. You, for instance.

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diamond jim:elections have con November 12, 2014 at 6:37 pm

lol…while you were having an orgasm over a penis in the anus today and perverted marriage, Putin decided to FUCK Obama in the ass by moving military assets off of our coast.

You are clueless.

idcydm November 12, 2014 at 9:58 am

Do you mean the FAUX truth used to sell Obamacare?

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FastEddy23 November 12, 2014 at 9:25 am

The newest members of the 9.9% class: retiring g’ment workers. Add to the Madof class of top ten biggest thieves: Tiny Tim and Big Ben who have literally stripped the US treasury of vast heaps of Gold.

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diamond jim:elections have con November 12, 2014 at 9:43 am

Obamacare was a transfer of wealth-the ultimate goal a single payer system.
They just found another tape of this Obamacare guru that discussed the transfer of the taxes on the so called ‘cadillac’ plans from the employer/worker to the insurance companies.

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The Colonel November 12, 2014 at 9:29 am

And people wonder why Reagan is still loved to this day.

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Bill November 12, 2014 at 2:14 pm

Yes they do!! Because trickle down economics has been killing the middle class for three decades. Did you actually read the chart?

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Bible Thumper November 12, 2014 at 9:35 am

“That garnet line?  It’s the “one percent” – a.k.a. the top one percent of all income earners in America.  The blue line?  That’s the rest of us …”
Technical note:
Fits needs someone who can read charts. The garnet line is not the top 1%, but the top 0.1%. The blue line is not the rest of us (99.9%), but the bottom 90%.

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A chicken in every pot November 12, 2014 at 10:36 am

Obama needs another Huey Long to champion his cause:

http://www.youtube.com/watch?v=hphgHi6FD8k#t=154

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cuvinny November 12, 2014 at 10:56 am

Hmmmm, see Will what I see in that graph is that this bullshit started with Regan and ‘trickle down’ economics.

We need another FDR and a New New Deal

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Native Ink November 12, 2014 at 12:35 pm

There are Democrats who represent the interests of big business, and sometimes Obama acts like one of them. But it’s silly to say Democrats are responsible for growing wealth inequality. Bush’s tax cuts for the rich and his bail-out of Wall Street were mainly responsible. Any chance of real reform to help the middle class was blocked by Republican’s gaining control of the House in 2010, although I suspect many Democrat congressmen were quietly relieved, since with Republicans in charge they wouldn’t be forced to vote for reforms that their rich sponsors didn’t like.

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Perry November 12, 2014 at 2:36 pm

If you think its bad now, had Romney won the war on the middle class would be over. According to Princeton University it is anyway.

http://libertyblitzkrieg.com/2014/04/16/new-report-from-princeton-and-northwestern-proves-it-the-u-s-is-an-oligarchy/

Billionaires and Wall Street with the help of Republicans have been waging war on the middle class since Reagan was in office. Bush really just pushed the middle class over the edge by slashing taxes on the wealthy, crashing the economy, and dumping trillions of dollars into the Iraq Desert. We have truly returned the days of the Robber Barons.

Maybe it is time for a French Style Revolution. Drag a few billionaires out of their Wall Street Castles and throw them in the East River, and lets see what happens.

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