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The wealth gap in America.
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Founded by HelpinUtah on October 14, 2009
38 members
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The wealth gap in America.

http://www.upworthy.com/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact-2

If this is accurate, it may explain why Congress is being so stubborn about taxing the rich and closing the loopholes for corporations.
There is incredible power with this kind of money.
6 Comments
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Avatar_f_tn
My client base are the well to do class shall we say. I was talking to one of them today about this whole situation. He said, he and his collegues have met and had conversations about this and there is simply no solution. He said, those jobs are not coming back, corporations are sitting on tons and tons of money and not hiring. The stock market concerns him alot because he is afraid its going to go bust one day, college grads come out of school with mega debt to no jobs. Pensions and 401s are a thing that is quickly disappearing. In his words, its terrifying because it has to end somewhere and it will. The question is how and when? Not everyone can be a lawyer or a doctor and every sector of society is important in its function. The promise that all you have to do is go to college to land that great job, is a thing of the past. Working for 40 years for a company and getting retirement again, quickly fading into yesteryear, but to be replaced with what?
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148588_tn?1451677687
The market will go bust only if the corporations continue to sit on that money. That type of wealth distribution has always resulted in the collapse of a society.
Always.
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317787_tn?1428318779
Thank you for sharing this.  For about 30 years I have been hearing that at some point there won't be a middle class, there will be rich and poor.
This video you shared showed just that

I don't know if this is the truth however I pay 10% tax, just read that Mitt Romney paid 14%.  That is amazing to me, before I retired I paid 28% and I made less than $100K.  Something is very skewed here.

I also read yesterday that the stock market is not being affected by what is happening here but what is happening in other countries.

The video you shared frightened me.  I think I am going back to work. :)
Thank you again
Dee
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Avatar_m_tn
TAX THE RICH!!!!!!!!!!!!!!!!!!!!!

Example NFL QB Joe Flacco just signed a 6 year deal where he will make about $20M a year. If he plays out that 6 year deal between local, state and federal taxes he will pay $10M a year. HOW IS THAT FAIR?
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Avatar_m_tn
No offense Vance, but I'd be okay with that deal.  No that the taxation is fair, but $10 million a year would go real far around my ranch.  I'd play for a year and retire, then go fishing.
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Avatar_m_tn
The deal is great but should he have to pay out 1/2 his salary in taxes? Why do people hide money in offshore accounts, why do companies ship jobs overseas and so on...because of the tax rates.

FLAT TAX!!!!!!!!!!!!!!!!!!
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