"The income of the top 1 percent nearly quadrupled from 1979 to 2007, but the typical

Discussion in 'News / Current Events' started by Crabtownboy, Jul 26, 2013.

  1. Crabtownboy

    Crabtownboy
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  2. Revmitchell

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  3. Crabtownboy

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    Yeah, I saw your thread. You have to realize that the WSJ is very biased in its editorial position and thus, even though a great paper for obtaining stock quotations, it does not have balanced and fair editorials.

    Obama has added more jobs in his term of office than were added under Bush in his eight years in office.

    The economy is doing quite well just now, thank you. Remember Obama inherited a huge mess from the Bush administration. We are finally climbing out of that hole.

    Charts show the Dow still has quite an upward trend and should continue that trend. Of course, I realize you will never give Obama a positive comment. Sure there are areas that we hope will do better. However read what Fact Check says about the current economy.

    Quote:
    The economy has now added twice as many jobs since Obama took office than it did in his predecessor’s entire eight years in office.
    Stockholders have grown wealthier; the S&P 500 has gained 110 percent.
    But fewer Americans own their own homes. The rate of home ownership has dropped by 2.3 percentage points.
    However, fewer homeowners are now being forced out by foreclosures. Lenders initiated fewer foreclosure proceedings in June than at any time in the past seven-and-a-half years.
    Consumer prices have risen a modest 9.9 percent since Obama first took office, but wages have barely kept pace. Real weekly earnings rose just 0.1 percent.
    The federal debt declined a bit recently due to the tax-season surge in payments to the Treasury. But the debt is still up nearly 90 percent, and on a path to double.
    While states and cities laid off millions of their workers to make ends meet, the Obama administration continued to hire. The federal workforce is nearly 5 percent larger now, and has grown faster than the U.S. population.
    Obama has now traveled to 38 countries, visiting some more than once. Bush visited 75.
    The president is far short of meeting his goal of doubling U.S. exports. They have risen 31 percent since he took office, and only 2 percent in the most recent 12 months.
    Domestic oil production continues to soar, up 46 percent. Oil imports have plunged by 38 percent. But the U.S. still depends on foreign sources for more than a third of what it consumes.
    Wind and solar power have increased 176 percent. But those sources still make up just 3.8 percent of U.S. electric generation. Coal still accounts for the biggest share: nearly 39 percent.



    http://www.factcheck.org/2013/07/oba...s-july-update/
    I hope they publish a fact check on the editorial you quoted from and I bet they will show it is quite false.

    By the way, aren't you the one who objects from people citing editorials?

    __________________
    What I believe must be subject to change as God gives me new insights. It must be alive! Otherwise it is just dead doctrine.

    Holding a grudge or anger or hatred is allowing someone to live rent-free in your head.
     
  4. Revmitchell

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    Uh politifact is very biased. And again the DOW is looking strong only because of all the money we are printing. When they spoke of the possibility that that would end the market reacted very negatively. Thus the market is in a false bubble and not currently a true indicator of a good market.

    Unemployment is still very high and the majority of any job growth has been in government and not actually in the market.

    Even Obama has quit blaming bush.

    And i have not said anything about citing editorials.
     
  5. Crabtownboy

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    Simply not true.

    Hmmmmmmmmmmmmmmmmmmmmmmm?????

    Hmmm, read my other posts. You seem to have a very poor understanding of economics and what drives the markets.
     
    #5 Crabtownboy, Jul 26, 2013
    Last edited by a moderator: Jul 26, 2013
  6. Revmitchell

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    Hmmm...a non answer.
     
  7. Salty

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    and how did their income increase - by other people spending money.

    and keep in mind - that 1% also pays 40% of all income tax

    # of Millionaire tax returns:
    2001.....193,229
    2007.....392,220
    2010.....267,996

    Hmm, wonder why there were less millionaires in 2010, than in 2001?
     
  8. Crabtownboy

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    I won't worry about them having to eat stale bread and canned pork and beans.

     
  9. Bro. Curtis

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    You won't answer the question, either.
     
  10. Crabtownboy

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    Thanks Salty for bringing that fact up.

    The answer is simple, the economic free fall under Bush in 2008. As you can see the number is growing under Obama.

     
  11. padredurand

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    A little less than 300,000 people make gobs of money. So what? If it wasn't for a handful of these multi-millionaires I would have been out of a job years ago. I can name at least five people that are stinking rich and used a lot of that money to start businesses, create jobs and provide products and services that the average working stiff need or want.

    I've worked for them. They paid a fair wage for a fair day's work. I never went on a cruise with any of them. I wasn't invited to eat at their table, hang out with their other rich friends or swim in their pool. It wasn't part of the deal.

    They hired me to perform a certain job in return for a stated amount of money and benefits. I agreed to do that. The more money they made the longer I could continue working for them. I like job security.

    I ask the Lord to give me my daily bread. If He uses one of the 1% to accomplish that I am in no position to question Him. :godisgood:
     
  12. Revmitchell

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    Obama thinks he is.
     
  13. Crabtownboy

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    Do you have a link to this information or is it just a nasty mouthed opinion?
     

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