The Obama recovery DID happen....the 1%s just stole it from everyone else | TigerDroppings.com

Posted byMessage
CptBengal
USA Fan
BR Baby
Member since Dec 2007
39325 posts
 Online 

The Obama recovery DID happen....the 1%s just stole it from everyone else


quote:

Saez has now updated this statistic to include 2011. When you look at the economic recovery's first two years, the top one percent (which by 2011 meant any household making more than about $367,000) captured 121 percent of all pre-tax income gains.

How is it even possible for the one percent to capture more than 100 percent of all income gains since the last recession? Looked at from one point of view, it's not. It is enough to say that in 2010 and 2011 all of the recovery went to the one percent. If you were in the bottom 99 percent, as by definition nearly all of us are, you didn’t see a dime of that recovery.


LINK







Back to top
Share:
MoreOrLes
LSU Fan
Member since Nov 2008
16777 posts
 Online 

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


umm yeah ok





Back to top
  Replies (0)
deltaland
Mississippi St. Fan
Member since Mar 2011
23505 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


All that tells me is the Gov't gave all the stimulus money to the %1 and the middle class never saw it. I know my family never did.

That is really the only way you can conceive them receiving over 100%...because then you have free market earnings plus gov't stimulus.






Back to top
doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6427 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


Make sure you read the article and the correction at the bottom:

quote:

*Correction: An earlier version of this column stated, incorrectly, that only millionaires experienced the recovery in 2011. In fact, the biggest average gains were experienced by those within the one percent who earn a little more than half a million or less. Multimillionaires earning more than $8 million, on average, actually lost income in 2011.


So if you believe this crap, millionaires didn't benefit at all from the stimulus, and multimillionaires making over 8 million a year LOST INCOME.

So what is this guy trying to say about the stimulus, greedy Republicans, the top 1%ers when the people that made out weresupposedly only those who made LESS THAN A HALF MILLION!!!!!!!

You can't make this crap up folks!!! I guess Bush and the GOP created a tax policy to help only those who made over 367K, but less than 500K a year!!!!!!!!!!!!!!!!!!! Or was that Obama who did that????

I'm too confused to figure it all out.






Back to top
Nuts4LSU
LSU Fan
Washington, DC
Member since Oct 2003
18299 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


quote:

if you believe this crap, millionaires didn't benefit at all from the stimulus


Someone can't read.

quote:

So what is this guy trying to say about the stimulus, greedy Republicans, the top 1%ers when the people that made out weresupposedly only those who made LESS THAN A HALF MILLION!!!!!!!


All were within the top 1%. The lower end of the top 1% benefitted more than the upper half of the top 1%.

quote:

I guess Bush and the GOP created a tax policy to help only those who made over 367K, but less than 500K a year!!!!!!!!!!!!!!!!!!! Or was that Obama who did that????


Nope. The plan helped a lot more than that. Those were just the ones who benefitted most.

quote:

You can't make this crap up folks!!!


Why not? You just did.

quote:

I'm too confused to figure it all out.


No shit, Sherlock.






Back to top
90proofprofessional
LSU Fan
Member since Mar 2004
9005 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


comparing incomes pre-tax only sure isn't a great way to analyze policy. if the 1% 'stole' it, a significant amount was taken right back from them before their paychecks were even deposited. the analysis ignores this- what's it worth for informing policy?

it's also less than ideal to assume the income groups were composed of exactly the same people before, during, and after the recession






Back to top
  Replies (0)
LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3644 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


quote:

I'm too confused to figure it all out.
And that's not by accident.






Back to top
  Replies (0)
LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3644 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


Nope The correction said
quote:

Multimillionaires earning more than $8 million, on average, actually lost income in 2011






Back to top
doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6427 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


quote:

Nope The correction said quote:Multimillionaires earning more than $8 million, on average, actually lost income in 2011


Bingo, the guy didn't even read his own link.







Back to top
  Replies (0)
CaptainBrannigan
Auburn Fan
Sweater-Vest Swag
Member since Jan 2010
8098 posts

re: The Obama recovery DID happen....the 1%s just stole it from everyone else


quote:

All that tells me is the Gov't gave all the stimulus money to the %1 and the middle class never saw it. I know my family never did


I see it everyday in the crosswalk I use that was built with stimulus money.






Back to top
  Replies (0)


Back to top