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**LoP Guest** lop guest User ID: 88087 04-15-2012 11:20 PM

Yesterday, the President gave a speech in which he demanded that Congress raise taxes on millionaires, as a way to somewhat recalibrate the nation's wealth distribution. His advisors, like Gene Sperling, are giving speeches talking about the need for manufacturing. A common question in DC is whether this populist pose will help him win the election. Perhaps it will. Perhaps not. Romney is a weak candidate, cartoonishly wealthy and from what I've seen, pretty inept. But on policy, there's a more interesting question.

A better puzzle to wrestle with is why President Obama is able to continue to speak as if his administration has not presided over a significant expansion of income redistribution upward. The data on inequality shows that his policies are not incrementally better than those of his predecessor, or that we're making progress too slowly, as liberal Democrats like to argue. It doesn't even show that the outcome is the same as Bush's. No, look at this table, from Emmanuel Saez (h/t Ian Welsh). Check out those two red circles I added.

Yup, under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007. They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President. Under Obama, the 1% got 93 cents of every dollar created in that boom. That's not only more than under Bush, up 28 cents. In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality.

The data set is excellent, it's from the IRS and it's extremely detailed. This yawing gap of inequality isn't an accident, and it's not just because of Republicans. It's a set of policy choices, as Saez makes clear in his paper.

more

http://www.chrissstreetandcompany.com/20...-friend-1/

http://truth-out.org/news/item/8533-grow...-than-bush

**Twatwaffle** lop guest User ID: 57045 04-15-2012 11:45 PM

LoP Guest Wrote:

In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality.

The data set is excellent, it's from the IRS and it's extremely detailed. This yawing gap of inequality isn't an accident, and it's not just because of Republicans.

Indeed, the solution to fixing income inequality is for teh Fed to make $10 million FRN loans to everyone.

Quote:Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million. Or if Greece is a little too risky for you, go with Portugal, at about 12 percent, or $1.2 million dollars a year. (No sense in getting greedy.)

Think of what we can do with all that money. We can pay off our underwater mortgages and replenish our retirement accounts without spending one day schlepping into the office. With a few quick keystrokes, we’ll be golden for the next 10 years.

Who are we to disagree with Sheila Bair, former chairman of the FDIC?

http://www.washingtonpost.com/opinions/f...story.html

BJ lop guest User ID: 90575 04-16-2012 01:05 AM

But...but who will clean the rich man's potties, or be nanny to the rich ladies' kids? Ohhhh, they won't go for anybody being free and independent. They gripe when they have to pay minimum wage!

**LoP Guest** lop guest User ID: 67012 04-16-2012 01:12 AM

http://current.com/shows/viewpoint/93740...s-side.htm

Elliot Spitzer slams Obama on Wall Street

**LoP Guest** lop guest User ID: 78486 04-16-2012 01:13 AM

**LoP Guest** lop guest User ID: 42015 04-16-2012 01:24 AM

Obama really doesn't have to do anything to win because Romney is clearly of the 1% group.

The big delema for Republicans, is that a vote for their party means supporting the 1%.

**LoP Guest** lop guest User ID: 88087 04-16-2012 01:31 AM

LoP Guest Wrote:

http://current.com/shows/viewpoint/93740...s-side.htm

Elliot Spitzer slams Obama on Wall Street

Thank you that's a great video

Obama Still Wall Street's Honey ... Raises More (As Both Raw Amount And Percentage) From Wall Street Than In 2008

http://www.zerohedge.com/contributed/oba...-street-20

**Fester** · (This post was last modified: 04-16-2012 01:33 AM by Fester.)

LoP Guest Wrote:

Obama really doesn't have to do anything to win because Romney is clearly of the 1% group.

The big delema for Republicans, is that a vote for their party means supporting the 1%.

We get the government we deserve.

**LoP Guest** lop guest User ID: 88087 04-16-2012 01:44 AM

Fester Wrote:

LoP Guest Wrote:
Obama really doesn't have to do anything to win because Romney is clearly of the 1% group.

The big delema for Republicans, is that a vote for their party means supporting the 1%.

We get the government we deserve.

I think we get the best government the rich donors can buy myself

**LoP Guest** lop guest User ID: 88087 04-16-2012 01:48 AM

Twatwaffle Wrote:

LoP Guest Wrote:
In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality.

The data set is excellent, it's from the IRS and it's extremely detailed. This yawing gap of inequality isn't an accident, and it's not just because of Republicans.

Indeed, the solution to fixing income inequality is for teh Fed to make $10 million FRN loans to everyone.

Quote:Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million. Or if Greece is a little too risky for you, go with Portugal, at about 12 percent, or $1.2 million dollars a year. (No sense in getting greedy.)

Think of what we can do with all that money. We can pay off our underwater mortgages and replenish our retirement accounts without spending one day schlepping into the office. With a few quick keystrokes, we’ll be golden for the next 10 years.

Who are we to disagree with Sheila Bair, former chairman of the FDIC?

http://www.washingtonpost.com/opinions/f...story.html

That would cause hyperinflation and you could probably only buy a couple loaves of bread for that ten million.

Sheila Bair's Modest Proposal To Fix Everything: Hyperinflation

http://www.zerohedge.com/news/sheila-bai...rinflation

Weimar, Germany !

**Ultima_Thule**

One star for you OP , since you don't have the guts to post with a real username.

If your gonna talk politics, at least have the balls to use a real username.

**Michael Alan Keith**

My wealth places me in the 1%, but just barely.

Obama is no friend of mine.

More like the 0.001%

**Fester** · (This post was last modified: 04-16-2012 05:35 AM by Fester.)

LoP Guest Wrote:

Fester Wrote:

LoP Guest Wrote:
Obama really doesn't have to do anything to win because Romney is clearly of the 1% group.

The big delema for Republicans, is that a vote for their party means supporting the 1%.

We get the government we deserve.

I think we get the best government the rich donors can buy myself

As long as we are stupid enough to believe we have no choice other than the two talking heads put before us we will continue to get exactly that.

**yesferatu** · (This post was last modified: 04-16-2012 06:23 AM by yesferatu.)

LoP Guest Wrote:

so lemme get this straight......OP is a dumbass? because um,....what? lemme guess: oooooh Obama is a communist!

Face up to the facts, you ideological dimwit:

>>Obama masquerades as a defender of the common man and the middle class. He projects himself as just a regular kind of guy with progressive ideals. He is none of these things. He just plays these characters on TV. He is a charismatic puppet that works for the establishment to preserve the status quo. The promises for change were sweet nothings whispered into the ears of Americans while his corporatist, banker patrons on Wall Street and the rest of America's owners collude to gang rape us all in the ass. Obama's campaign was all a charade, and Obama's refusal to pursue the complete no-brainer that is drug law reform (contrary to his campaign trail rhetoric) illustrates this quite well. In fact, the Obama DoJ has surpassed Bush's in the tenacity with which it is raiding state-sanctioned medical marijuana businesses.<<

So yes....Obama is a friend of the 1%.
Just because it f#ks up your ability to say stupid shit like "Obama is a communist" or whatever the f#k your problem is with the facts the OP posted, that is your wingtard problem.

You righties are a joke.

**LoP Guest** lop guest User ID: 65061 04-16-2012 06:50 AM

Yeah, and for every piece of garbage that you post supporting Obama, I've got more that go against.

Read that and tell me whether Obama's policies are supporting ANYTHING BUT the 1%.

NONE OF THE POLITICIANS ARE WORTH A DAMN.

When America finally gets its head out of its ass, then it can finally figure out that they've been sold out by each side.

Its obvious that you haven't figured this game out yet...
http://evolvedministry.wordpress.com/201...ird-party/