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The Runaway Income and Wealth Inequality in America
An SI Board Since March 2019
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Emcee:  ryanaka Type:  Moderated
The Income and Wealth Inequality in this country is exploding out of control.
Donald Trump is determined to make it worse with every passing day of his presidency.


"For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data."

Trump's Tax Law: Collect extra thousands of dollars from each of the Bottom90% and give to Top1%. Take extra national debt and give to Top0.01%. I am paying at least extra $4-5k because of Trump tax law.

The general population, the income growth should be approximately at the pace of GDP growth. But for the past 40 years, since Ronald Reagan was president, there has been relentless wealth transfer from the Bottom90% to the Top1%, especially to the Top0.01% (Billionaires).


Below in the Chart:
90th-99th percentile = Upper Middle Class = After-Tax Annual Income of $120,000 to $425,000
I dubbed the Top0.01% the Billionaires.
The growth of the number of people who need secondary jobs to pay the bill, and the growth of the Top0.01% Income look eerily similar.

"typical household, amazingly, has a net worth 14 percent lower than the typical one did in 1984, according to a Russell Sage Foundation publication."


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53Kinship Intensity Index [graphic]ryanaka-last Wednesday
52DEMOCRACY INDEX [graphic]ryanaka-last Wednesday
51it will take the average worker a record 114 hours to buy one unit of the S&ryanaka-January 3
50"the top 1 percent who will ultimately receive over 80 percent of the benefryanaka-January 2
49"Half of the U.S. population spends more than their income, particularly atryanaka-12/31/2019
48Borrow and Spend Republicans. Trump gave hundreds of millions dollars to the stiryanaka-12/30/2019
47Head & Shoulder top of Prime Leverage Demographics: [graphic]ryanaka-12/30/2019
46The twitter-use inequality is still far less than the wealth inequality of this ryanaka-12/30/2019
44Trump Wants to Take From the Poor and Give to the Wealthy The administration’s fryanaka-12/10/2019
43[graphic] Growing Divide As jobs are automated out of existence, the division bryanaka-12/9/2019
42FRA=Full Retirement Age Lifetime Social Security Benefit by Earnings Quintile: ryanaka-12/3/2019
41Are we in for a repeat of the ‘Long Depression’? There are a lot of parallels beryanaka-11/30/2019
40"SI liberals insist they are smarter than I" they are.ryanaka-11/30/2019
39We discussed this here on SI when Obama was president. SI liberals like you argmel221-11/19/2019
38[graphic] [tweet] Unrest similar to that in Chile will start something?ryanaka-11/19/2019
37Trump will add $1.3 Trillion in 2019 to the total US National Debt which stands ryanaka-11/7/2019
36S&P Stock Buyback [graphic]ryanaka-11/6/2019
35"One day we'll see the Zeitgeist of the Obama/Trump years for what it iryanaka-10/26/2019
34The wealth inequality, the income inequality in Chile brought the nation to stanryanaka-10/21/2019
33Wealth Transfer: Poor => Rich 1. Trump Tax Giveaway 2. Corporate Stock Buyryanaka-10/18/2019
32The Rich Really Do Pay Lower Taxes Than You For the first time on record, the 4ryanaka-10/10/2019
30U.S. income inequality at highest level in 50 years, economic gap growing in hearyanaka-9/26/2019
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