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   PoliticsThe Runaway Income and Wealth Inequality in America


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From: ryanaka3/18/2019 3:55:10 PM
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"Wealthiest 10% of Americans own 84% of all stocks in America."


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From: ryanaka3/21/2019 10:29:59 AM
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Trump's Middle Class Tax Hike:
Last year, my federal tax return (for 2017) was over $4,000
This year, my federal tax return (for 2018), I owe some hundreds dollars.

Total paycheck federal income tax deduction remained virtually the same between 2017 and 2018.
  • My income level probably falls in the 70-85 percentile, Middle Class.
  • My income remained almost the same between 2017 and 2018.
  • However, the Adjusted Taxable Income went up by more than $30,000.
  • The biggest difference was the elimination of various deductions in Trump Tax Law:
    Family deduction; State tax deduction; Property tax deduction; Charitable contribution
    , ..


In the Chart below:
Upper middle class is 90th to 99th percentile, making $120k to $425k after tax. Their income growth is at par with the GDP growth.
Middle, lower middle and poor people lost ground for the past 40 years, with their income growth falling further below the GDP growth, while the Top1% gaining ground with their income growth much in excess of the GDP growth. The Top0.01% Billionaires saw their income growth sky rocket.


If a Nation's economic productivity growth is measured by the GDP growth, then the people must share the benefit in a fair way. On average this should be reflected in the income growth, not just the 0.01%, 1% or 10% of the people. It must be reflected in the income growth for the 70-95% of the people.


America's system is broken. Ronald Reagan started it. All GOP presidents aggravated the income inequality problem further. Donald Trump exploded the problem with his tax cut to the ultra wealthy (1% and 0.01%) and Trump Tax Hike for the bottom90%.


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From: ryanaka3/21/2019 11:05:51 AM
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The American middle class is stable in size, but losing ground financially to upper-income families


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From: ryanaka3/23/2019 5:19:15 PM
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theguardian.com

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From: ryanaka3/29/2019 8:35:16 AM
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Women v. Men ...


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From: ryanaka4/8/2019 3:17:17 PM
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"Ray Dalio: Capitalism's Income Inequality Is National Emergency - Bloomberg"

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From: ryanaka4/10/2019 8:35:14 AM
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  • The typical household, amazingly, has a net worth 14 percent lower than the typical one did in 1984
  • The number of children living with only one parent or none has doubled since the 1970s (to 30 percent)
  • About eight million people have spent time behind bars at some point in their life, up from 1.5 million 40 years ago.
  • hard work gone unrewarded, and anxious, for your future and your children.
  • your family — or whole community — had known scant progress for decades.




nytimes.com

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From: ryanaka4/12/2019 12:39:58 PM
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Rep. Katie Porter Asks JPMorgan CEO Jamie Dimon Why He Can't Pay Employees a Livable Wage

This rep asked a billionaire bank CEO to explain why he can’t find the money to pay his employees a livable wage

Posted by NowThis Politics on Thursday, April 11, 2019


Jamie Dimon:
"I don't know, I have to think about it.
I don't know, I have to think about it.
I don't know, I have to think about it.
I don't know, I have to think about it.
I don't know, I have to think about it.
I don't know, I have to think about it.
..."

Jamie Dimon had lots of opinions about everything when it comes to helping the top 0.01% and Donald Trump except for everyday American's income and living expenses, etc.

MADAFAKING Jamie Dimon.


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From: ryanaka5/24/2019 12:09:39 AM
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Low unemployment rate will reduce income inequality??? Not a chance!


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From: ryanaka6/2/2019 9:19:51 PM
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'Full employment' may be increasing economic inequality
businessinsider.com

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