The Wealth Gap Between Young, Old is Widest Ever

http://www.huffingtonpost.com/2011/1...n_1079372.html
WASHINGTON — The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt.

The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.

While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation.

Video clip on income inequality.

http://news.yahoo.com/remake-america/

Note the comments on inflationism - (gas costs $600 a month, milk is $5 a gallon, car payment $500 a month, college tuition as indicated above.... - why are these so expensive? Why our are earnings getting stretched less and less as these people in the video indicate?


Here is a quote from an economist liberals worship - Keynes, who the uber liberal, Krugman, strongly endorses.

"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery. Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose"

Here is Ron Paul on income inequality.

http://www.youtube.com/watch?v=Qfyo7cUevwY

http://www.youtube.com/watch?v=ZMFsdG6N540

http://www.youtube.com/watch?v=cl8vP9L6Imo

I guess the answer is to confiscate the wealth of high earners since the system our politicians developed gives it to them? Wouldn't a better solution to fix the system?

But let's keep posting that income inequality is growing. That's productive. Let's not look for causes. It might cause one to have to think instead of accepting political dogma.

Here's a book I will buy for you if you like. I belive you are stored in my Amazon account. I can have the order in place within 15 minutes.

Beyond the Keynesian Endpoint: Crushed by Credit and Deceived by Debt — How to Revive the Global Economy

Give is a look and let me know.

http://www.ftpress.com/store/product...sbn=013276315X

Another one from Ron Paul.

Ron Paul: Both Parties Have Driven America into Bankruptcy
title should rightfully say "both parties are driving"

http://www.youtube.com/watch?v=8_VJ5...feature=relmfu

I sense that Hava-gafa-kasha is trying to bury this dialog, which is not what I want for sure. Plus, I can put in an order for the book offered.

Maybe Typical can chime in with some republican hate? Anything? At all?

I'll keep this active a little longer before accepting that Hava-gafa-kasha doesn't want to explore reasons for income inequality instead just simply accepting the dogma from the left that the only concern is to increase taxes on higher earners because he is told it is fair even though higher earners already pay most of the income tax.

http://tpmmuckraker.talkingpointsmem...ch.php?ref=fpb
Stephen Colbert Explains Why The Wealthy Need Yachts To Flee Hordes Of The Poor
Stephen Colbert

DAVID TAINTOR NOVEMBER 9, 2011, 10:46 AM 881 1
Stephen Colbert is increasingly worried about downtrodden hordes going after him and his wealthy friends. “The barbarians are at the gated communities,” Colbert said. “We must be ready to flee at a moment’s notice.”

So Colbert was comforted by a recent full-page ad in Yachts International magazine. The ad reads, in part: “We used to sell yachts as luxury items. In today’s world, they’re really a necessity.”

And Colbert agrees: He couldn’t imagine fleeing the collapse of society if his boat doesn’t have an onboard infinity pool. The ad continues: “If you ever get discouraged and think nobody in the world cares about you and your dreams, trust me, the boating industry does.”

“Oh, boating industry, you had me at ahoy,” Colbert said.

Watch the video:

So do you think inflation is harming the middle class or not. Why when confronted with dialog do you resort to posting others' articles? Can you form an opinion yourself? By the way, that is now the third time you posted that article. It's like I'm trying to engage a wall in a conversation. Maybe I should take it as it is, you are a wall.

"The average annual inflation rate for the entire period since 1913 has been 3.24% per year"

I don't expect the mathematically challanged Hava-gafa-kasha to understand, but if we had $100 in 1913 and it grew at 3.24% per year, it would be worth........................ $2,276.64. This means that $100 of 1913 dollars = $2,276.64 of 2011 dollars - nope, no inflation here. Has the middle class kept up with this? Nope. Don't fix the problem, just tax the rich. Pervert the tax system such that the purpose is NOT to collect revenue to run the government, but to administer "social justice" as defined by a few.

How f'd up our world has become.

Yeap, just like I said...

"Capitalism is neither moral nor immoral. It is amoral, concerned only with profit. Capitalism with a social conscience offends its shareholders; if I want to contribute to charity, I want it to be my nickel, not withheld from my dividends. Therefore we need a check and balance mechanism to prevent the selfishness of capitalism from harming society. This can be provided only by government, by regulation, by taxation and by police powers. Europe learned this the hard way, sixty years ago, on the heels of two bloody world wars and two bloody totalitarian tyrannies, for all of which capitalism is responsible. The European response, the welfare state, has been an excellent model. We need not be concerned with some of their ill-conceived attempts at economic union/integration. All in all, they have created a model that we should follow."

http://community.nytimes.com/comment...ldest&offset=2

Yeap, screw liberty, it's an antiquated concept anyway.

The true liberal agenda.

While the Middle Class Suffers, Congress is Getting Richer - With Help From Legal Insider Trading
By Kerri Shannon, Associate Editor, Money Morning, Money Morning

While many Americans continue to struggle to save money, members of Congress are getting richer.

A Roll Call analysis of Congress members' financial disclosure forms showed their collective net worth was more than $2 billion in 2010 - a 25% leap from 2008. Minimum net worth in the House of Representatives rose to $1.26 billion, with minimum Senate net worth at $784 million.

With a median net worth of $891,506, Congress members are nine times wealthier than the average American household - and some Congressional leaders are exceedingly richer.

About 11% of Congress has net worth of more than $9 million, landing them in the top 1% of America's wealthy.

And these numbers aren't even the whole picture. They don't include members' homes and other non-income-generating property, which could add hundreds of millions of dollars to total net worth.

Congressional leaders' presence in the top 1% is one of the catalysts that angered citizens enough to start the global "Occupy Wall Street" movement. It also has prompted a closer look at how these elected representatives are gaining such riches, especially on an annual salary of $174,000.

According to a CBS News "60 Minutes" segment that aired Nov. 13, congressional "insider trading" might be a key factor in their financial success. Congress members may be using information gained from their "insider" positions to make highly profitable trades in the stock market.

This form of insider trading may be unethical, but it's also legal.

Read the rest here:

http://moneymorning.com/archives/#author.all.a.49

MORE GOVERNMENT PLEASE. MORE TAXES PLEASE. It would appear that "some" want the rich to get richer. Ain't that rich?

Surging college costs price out middle class

I won't post any of the article because all one need see is the graph.

http://money.cnn.com/2011/06/13/news...lass/index.htm

It's called inflationism, and it is destroying the middle class. You can put whatever you want on the red line - the cost of a vehicle, a gallon of gas, a home.....

With inflationism, one needs more dollars to pay for the same damn thing.

Solution to Income Inequality? Work Ethic not Hand-outs

Yahoo! News is seeking readers' stories that personalize income inequality in the United States. Below is one perspective. To share yours, sign up with Yahoo! Contributor Network.

FIRST PERSON | According to a recent poll by The Hill, 55 percent believe income inequality is a big problem in our country.

A Business Insider study shows the richest 20 percent are 8.5 times richer than the poorest 20 percent. But while The Hill attributes the disparity to a "lack of opportunity," I say it has more to do with a shortage of a work ethic.

While growing up in Virginia Beach, my first job was mowing lawns. I was 12. In high school, my classmates spent their summers getting tans. I worked 40 hours a week as a barber's apprentice. After graduation I took a second job as a waitress on the graveyard shift for minimum wage, plus tips. By my mid-40s, after 10 years in the corporate world, I was making $55,000 per year, plus bonuses.

According to the super-rich on ABC's 20/20, "successful people do all the things unsuccessful people don't want to do."

In December of 2008, I lost my job. Unable to find work I sold my home and moved in with my fiance. He lost his job in 2010.

"Live your life full throttle," the rich advised on 20/20. "Take risks!"

Hearing of an investment opportunity, I became co-owner of a financial consulting firm and sank $35,000 into a spring water venture that will create jobs for the Passamaquoddy Indian tribe in Maine.

I'm 52 now. My water investment, by current estimates, will generate around $75,000 -- per year -- when bottling begins.

In the meantime, I scrape by as a rental-unit property manager for around $28,000 a year and supplement my income with freelance writing.

Rather than steak, we eat burgers. Where I used to splurge on shoes, I save to pay electric bills.

I refuse to apply for government assistance. Rely on hand-outs, you'll never go beyond the length of the arm behind it. I am down but not defeated. I will rise again. My mom says my first words were "own self."

You'll have to read the rest of this inspirational story right here: http://news.yahoo.com/solution-incom...174500459.html