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GOP GIVE AWAY BILLIONS!
Wealth Distribution in 2007
Percent of Wealth
Libertarian Ron Paul says 38%
The top 1% of the US population holds 23.5% of the
financial wealth of this country. That’s right; close to one fourth of the wealth in
this country is in the hands of the top 1%. Actually I think Bernie Sanders got the figure too low in his speech. Libertarian Ron Paul puts the figure at 38%. But I will not contradict Bernie. Either way, Does that look like Socialism to you?To me it looks like I am a slave to the people that have gained the most from all the breaks since Reagan.
The concept of “Socialism in America” is the biggest lie ever told.
It is strictly propaganda. The
word “Socialism” conjures up fear. Conjuring up fear is a specialty of the right. The
word “Socialism” is used to frighten you. Don't be fooled. The propaganda experts know that every red blooded American thinks “Socialism” is evil. Everyone knows the “Union of Soviet
Socialist Republics” was communist. Fear inducement is popular in the GOP strategy book. It is a popular tactic of
Tea Party types to popularize a false idea.
It ensures the rich keep getting richer and the middle class disappears
Let’s go on. 70.9% of the wealth is held by the top 10% of the population, conversely, that leaves 29.1% of the wealth for 90% of the population.
Worse, the bottom 80% of the population divides a meager 7% of the wealth. And it gets much uglier as you proceed downward. The bottom 40% of population has only 0.2% of all wealth. The bottom 40% are dividing peanuts. If you think that is Socialism I suggest you take a course in Economics 101.
GOP lawmakers are pushing for another $57 billion in cuts this year. The honorable Senator from Vermont, Bernie Sanders, has the right idea. According to the senator, a 5.4 percent surtax on adjusted gross incomes over $1 million could bring in as much as $50 billion a year, while ending tax loopholes for the oil-and-gas industry could chip in $3.5 billion.
The people teaching our children, enforcing the laws, and fighting our fires should not be scrambling for part of 7% of the wealth of this country. The GOP has seen to it the well healed have been protected and had their way with government. They have been partying with the Bush tax cuts long enough. The Tea Party has put labels like “Socialism” and “Obama Care” on things they don’t like to develop a general distaste for Obama.
But wanting to induce fear some idiot on the right cries: “Will 2010 be the dawn of Socialism in America? Will we be “transformed” from a free country where individuals can write their own ticket through hard work and entrepreneurship to a “big brother nanny state? There are red flags everywhere. Americans should fear the fact that the government is suddenly buying into failing businesses with money they don’t even have.”
This idiot is probably one of those scrambling for his tiny share of the 7% ..
Obama saved the automobile
industry. Isn't that great? What a relief!! And did you hear GM just posted a good profit
for the year, tens of thousands of jobs were saved, and America can be
proud. I do not understand how the GOP can get anyone in the bottom 80% to vote
so blatantly against their self interest, but they somehow do just that. For
gods sake people, wake up. We barely have a democracy anymore as we continue to hand money to the super rich.
The Bernie Sanders Ten, per release....
1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
2) Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
3) Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.
4) Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.
5) Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.
6) Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.
7) Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.
8) Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.
9) ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.
10) Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.
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