When Pulled-Out-Of-Your-Ass Excuses become elevated to an art form

[SSG Snuggle Bunny]

Fumesucker (30,186 posts)

The Richest 1 Percent Have Captured 121 Percent Of Income Gains During The Recovery

http://thinkprogress.org/economy/2013/02/12/1579211/1-percent-121-gains/

Last year, economist Emmanuel Saez estimated that the richest 1 percent of the U.S. captured a whopping 93 percent of the income gains in 2010, as the U.S. was emerging from the Great Recession. Saez is now back with updated numbers from 2011, and they make the picture look even grimmer:
 
From 2009 to 2011, average real income per family grew modestly by 1.7% (Table 1) but the gains were very uneven. Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%. Hence, the top 1% captured 121% of the income gains in the first two years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011.
 
How is it possible for the 1 percent to capture more than all of the nation’s income gains? The number is due to the fact that those at the bottom saw their incomes drop. As Timothy Noah explained in the New Republic, “the one percent didn’t just gobble up all of the recovery during 2010 and 2011; it put the 99 percent back into recession.”
 
Saez added that “In 2012, top 1% income will likely surge, due to booming stock-prices, as well as re-timing of income to avoid the higher 2013 top tax rates…This suggests that the Great Recession has only depressed top income shares temporarily and will not undo any of the dramatic increase in top income shares that has taken place since the 1970s.”

Got that?

Lower incomes drop while the rich sweep it all up.

Bonobo (19,502 posts)

2. Without a President committed to the middle class it could have been way worse! nt

Jackpine Radical (35,955 posts)

27. Like I been telling people who complain about the rise in the cost of living--

"Think how much worse it would be if there were inflation!"

Then comes a lot of calls for the government to do SOMETHING.

http://www.democraticunderground.com/10022365380

[franksolich]

"Think how much worse it would be if there were inflation!"

There hasn't been inflation?

[Freeper]

There hasn't been inflation?

Well if you don't count unimportant things like food and energy prices then no there isn't any inflation.

 

[Conservative Libertarian]

There hasn't been inflation?

Only of their own self-images.

[Dori]

There hasn't been inflation?

Exactly.  I guess this person doesn't ever buy anything.  Probably a mom's basement dweller.

[Tucker]

The back and forth about 100% makes me believe that those idiots would argue about the color of black.

[DumbAss Tanker]

Bonobo (19,502 posts)

2. Without a President committed to the middle class it could have been way worse! nt

If that was from Sid, or OMC back in the day, I would've thought it was a sly and biting snark at the Obamabots, but the naive little chimpette has demonstrated no penchant for either critical thinking or subtle sarcasm in the past.

[marv]

From 2009 to 2011, average real income per family grew modestly by 1.7% (Table 1) but the gains were very uneven. Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%. Hence, the top 1% captured 121% of the income gains in the first two years of the recovery. From 2009 to 2010, top 1% grew fast and then stagnated from 2010 to 2011. Bottom 99% stagnated both from 2009 to 2010 and from 2010 to 2011.

And who was the president who would save us all? Gonna have to blame it on his predecessor, number 43....................

[USA4ME]

It's seems that under Dear Leader the rich have gotten richer and the poor have gotten poorer.  I bet if you dug a little deeper you'd find that conservatives have done well for themselves, while for liberals their economic situation has become worse; in many cases much, much worse.

But they'll continue to vote for the very party that's made them poor and destitute.  Oh well, you can lead a hippie to water but you can't make them bathe.

.

[98ZJUSMC]

Jackpine Radical (35,955 posts)

27. Like I been telling people who complain about the rise in the cost of living--

"Think how much worse it would be if there were inflation!"

[Delmar]

Bonobo (19,502 posts)

2. Without a President committed to the middle class it could have been way worse! nt

Bonobo's stupid post reminds me of the old Sheckey Greene joke:

Frank Sinatra certainly showed his darker side at times to me. The comedian SHECKY GREENE saw that side of Sinatra and was brave and unbowed enough to joke about it in his nightclub act. "People say a lot of bad stuff about Frank Sinatra," Shecky would begin a routine, "but I won't hear a word against him because once Frank saved my life. Three hoods were beating the crap out of me in the parking lot of the FONTAINBLEAU HOTEL, in Miami one night when Sinatra walked past and said, 'Okay, boys that's enough'. That line always go a big laugh, but as he told me when were chatting one night, the story was actually true. The incident occured after Sinatra took a fancy to Shecky's girl-friend one night and took her up to his suite. Shecky objected to this and started banging on the door, so Sinatra phoned down to the parking lot. Three hoods waited for Shecky in the parking lot and worked hom over pretty good.

http://alanrossiforallevents.blogspot.com/2009/10/frank-sinatra-saved-my-life-shecky.html

[txradioguy]

I've never understood how the Liberals view everything as a zero sum game...in that if someone gets a raise that means someone else loses money.

[RobJohnson]

I've never understood how the Liberals view everything as a zero sum game...in that if someone gets a raise that means someone else loses money.

Unless disability payments, Medicaid checks, or EBT benefits go up.....those are all good things.

**** off DUmmies, I am tired of working my ass off for your ****ing free ride.