4 Infuriating and Unfair Things About Our Economic System

[xchrom]

http://www.alternet.org/economy/4-infuriating-and-unfair-things-about-our-economic-system

1. For Every BILLION DOLLARS of New Stock Market Wealth, Most of Us Averaged ONE DOLLAR in Stock Gains

In the six years since the recession the stock market has risen by $8 trillion, the great majority of it going to the richest 10%. In 2013 alone it rose by $5 trillion. On average, each of us in the bottom 90% earned a dollar every time the market went up another billion. (Details here.)

2. Each Year Since the Recession, the "Upper Class" (Richest 10%) Has Accumulated Enough New Wealth to Pay the Total Cost of Social Security Four Times Over

3. Two Top Polluters, Four Welfare Kings, and a Long-Term Tax Avoider Took Enough National Wealth Last Year to Pay for ALL the School Lunch and Women/Infant Nutrition Programs

That would be the seven individuals heading up Koch Industries, Walmart, and Berkshire Hathaway. In addition to their corporate profits, the seven moneymakers had personal investment gains that totaled $28 billion last year, about the same as the total cost for nutrition programs for over 40 million kids (Child Nutrition and WIC). They made even more the year before, and the year before that.

4. Then: Workers Paid 33 Cents, Corporations Paid a Dollar. Now: Workers Pay 33 Cents, Corporations Pay 7 Cents

Workers and their pensions get blamed for budget shortfalls. But relative to workers' payroll tax, corporate taxes have dropped from $1.00 to 7 cents since the 1950s. Meanwhile, corporate profits have reached record highs, more than doubling in just the past ten years.

[Major Nikon]

1. Pfft...

1. For Every BILLION DOLLARS of New Stock Market Wealth, Most of Us Averaged ONE DOLLAR in Stock Gains

Had you been smart enough to buy stocks, you wouldn't be crying about this now.

2. Each Year Since the Recession, the "Upper Class" (Richest 10%) Has Accumulated Enough New Wealth to Pay the Total Cost of Social Security Four Times Over

And how many jobs did those on Social Security create?

3. Two Top Polluters, Four Welfare Kings, and a Long-Term Tax Avoider Took Enough National Wealth Last Year to Pay for ALL the School Lunch and Women/Infant Nutrition Programs

How many jobs did babies, toddlers, and grammar school kids create?

4. Then: Workers Paid 33 Cents, Corporations Paid a Dollar. Now: Workers Pay 33 Cents, Corporations Pay 7 Cents

Obviously you don't understand how the Horse and Sparrow theory works.

[winter is coming]

2. A modern twist on Horse and Sparrow:

Most politicians are too chickenshit to admit that trickle-down economics is horseshit.

[PatrickforO]

5. The sparrow poops on the horse's head?

[Major Nikon]

7. Nah

The idea is that if you feed a horse enough oats it will shit some of them out and the sparrows can sift through it.

[PatrickforO]

9. Sounds just like the 'trickle down' theory.

[Major Nikon]

13. More like the grandfather of the 'trickle down' theory

...which is no different other than it's been repackaged to be more palatable to the useful idiots.

[hifiguy]

10. John Kenneth Galbraith's word-for-word explanation of "trickle down."

How right he was.

[Dark n Stormy Knight]

11. I wonder what a Steven Colbert segment on Horse and Sparrow would be like. He did the classic

illustration of Trickle Down in this The Word segment:


And here is a transcript of the best/worst part, (The words from the screen next to Colbert a re shown in parentheses after the related script text.) But, watch the video. It's hilarious.

Yes. Deficits do matter. And that is as true today as the last time a Democrat was in office. (Back then we called them surpluses) In fact, Republicans have put their deficit nuts on the table. By repeatedly filibustering benefits to 15 million unemployed Americans, because that would add $33 billion to the deficit. And that would just be passing that bill onto future generations. (Of Chinese)

So, arguing to add $1 trillion to the deficit to give these tax cuts to the wealthy makes it look hypocritical and heartless. (Instead of just hypocritical) Well, here's why they're not. Economists know tax cuts for wealthy Americans benefit everyone. It's even got a name. ("Self-serving rationalization&quot

It's called the "trickle down theory". Here's how it works. Let's say I'm in the top 3% of wage earners. Because I am. And this Bud Light Lime is a refreshing tax cut. With lime. (Tastes great, less filing) Now, the bigger my tax cut is, the more money I can pour into the system.

Then, very soon, the benefits will work their way through the system, and trickle down. I mean, like a racehorse. Then, the other 97% of poorer Americans are welcome to have as much of that as they can collect. (Transcript courtesy of [link:http://www.dailykos.com/story/2010/07/29/888672/-MUST-SEE-Stephen-Colbert-destroys-deficit-hawks-and-Reaganomics-too|this Daily Kos Diary.)

[gregcrawford]

3. My hatred of corporatism...

... burns hotter than the surface of the Sun. The sociopaths that perpetrate such outrages are evil down to their DNA.

[Cryptoad]

4. Economic Liberty

the GOP has given the Corps a Right to own it all. Taking this Right back will not be an easy task!

[Enthusiast]

6. K&R! This post should have hundreds of recommendations!

Thank you, xchrom.

This one is especially irritating. 4. Then: Workers Paid 33 Cents, Corporations Paid a Dollar. Now: Workers Pay 33 Cents, Corporations Pay 7 Cents.

The President says the US corporate tax rate is the highest in the world. But the truth is, the effective tax rate is no where near the stated tax rate.

[Autumn]

8. Yeah. That it does.

[Rex]

12. Well the usual cast of suspects will be here some time today or tomorrow

to lecture you on how that is a good thing.

[RadiationTherapy]

14. Grubbers gonna grub.

Enablers gonna enable.