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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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44Trump Wants to Take From the Poor and Give to the Wealthy The administration’s fryanaka-last Tuesday
43[graphic] Growing Divide As jobs are automated out of existence, the division bryanaka-last Monday
42FRA=Full Retirement Age Lifetime Social Security Benefit by Earnings Quintile: ryanaka-December 3
41Are we in for a repeat of the ‘Long Depression’? There are a lot of parallels beryanaka-November 30
40"SI liberals insist they are smarter than I" they are.ryanaka-November 30
39We discussed this here on SI when Obama was president. SI liberals like you argmel221-November 19
38[graphic] [tweet] Unrest similar to that in Chile will start something?ryanaka-November 19
37Trump will add $1.3 Trillion in 2019 to the total US National Debt which stands ryanaka-November 7
36S&P Stock Buyback [graphic]ryanaka-November 6
35"One day we'll see the Zeitgeist of the Obama/Trump years for what it iryanaka-October 26
34The wealth inequality, the income inequality in Chile brought the nation to stanryanaka-October 21
33Wealth Transfer: Poor => Rich 1. Trump Tax Giveaway 2. Corporate Stock Buyryanaka-October 18
32The Rich Really Do Pay Lower Taxes Than You For the first time on record, the 4ryanaka-October 10
31[graphic] 5
30U.S. income inequality at highest level in 50 years, economic gap growing in hearyanaka-September 26
28The middle class gets poorer. The Trump supporters and Republicans are making suryanaka-September 15
27Opportunity zones are the next big thing for the super-riches of America. Opportryanaka-August 31
26America will be owned by wealth oligarchs “Private capital is increasingly repryanaka-August 29
25Perhaps you don't understand what "Inequality" means. It is measurryanaka-August 17
24The deadly Cancer of America = Tucker Carlson theguardian.comryanaka-August 10
23Now that wages are increasing and unemployment is at all time lows dont you feelgolfer72-August 8
22AI and Robots will displace Trump supporters from their job. What are they gonryanaka-July 18
21Workplace burnout [graphic]ryanaka-July 9
20[youtube video]ryanaka-June 26
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