1980 STARTED SLIDE INTO PO FOLKS RICHER FOLKS

[clarence swinney]

GrowthcantRUCTION—Rome-Spain-Holland-England-America???

1980 to 2007

IMPORTANT—No Reagan + Bush Tax Cuts we enjoy a $14,000 Billion surplus today

20 years Conservative Presidents
18 years Conservative Senate
12 years Conservative House
6 years Total Conservative Control

Redistribution of Wealth to top 20%.

Folk! It was downhill slide for Middle Class.

FACTS---numbers rounded-

Financial Wealth owned by 1%
1946---30% of Total Wealth
1980—20%--a 33% decline due to Estate Tax and High Top Income Tax Rate.
1989---37%--Reagan Tax Cut(60%) got Rich Increase of 80% of Total Wealth
2008---43%

2007—BAD NEWS AMERICA--
10% owned 80% of all stocks
1% owned 40% of all stocks
30% owned 18%(bottom 30%)
20% owned 93% of Total Financial Wealth
In people terms--(30 Million=93%-- vs-- 120 Million=7%)
Wall Street history before 1980 was to build American businesses and American jobs

THENCE COMETH CONSERVATISM roll dem dice

1980-2007—1% Income Increased by 170%. 2500 Billion in Tax Cuts for them

Most Major corporations are owned by WALL STREET RICH MEN CASINO

In 1945, Corporations paid 35.4% of federal revenues and 7.4% in 2003
In 2007, Corporations paid an average of 16% of profit in federal taxes.
In 2000, 45% of corporations with revenue over 50 million paid NO federal tax
In April 2010—Exxon filed to pay no 2009 taxes on Billions of profit

Seven Wall Street Banks control 75% of all Bank Deposits in America.
Two control 20%.

Think that is not POWER???

FACT CHECK

In 8 years of Bush with 6 years of Total Control

BAILOUT—enriched Big Gamblers big time
$120 Billion went to Wall Street Gamblers
$18 Billion went to working class
Food Stamp Families--Increased 90% from 1980 to 2005

They (wall street rich) created a Net New Jobs of 31,000 per month.
In the past Wall Street created jobs by using investors money to build new businesses and increase current ones to add jobs. Gambling creates no new jobs.
Net Job Creation is take jobs created and subtract 2,300,000 sent to China under Bush 8 years

25 Hedge Fund Managers earned over one billion each in 2009 and paid 15% Tax Rate.
The income of 25 could have hired 658,00 new teachers.
This was during Worst Republican Recession in History.
Each “Significant” Recession in 20th was under R president.

IRS data shows the effective tax rate on richest 400 is now 16%.
Coal Miners Rate is 28%.
Republicans scream cut it cut it cut it!!! Are they dumb or just insane?

31,000 jobs.Why? That is NET. You take the new jobs created and subtract the ones sent to China (2,300,000) during Bush 8 years.

31,000! Wow!
Twenty Years of Three so called Conservative Presidents created an average of 99,000 Net New Jobs per Month.
Twelve Years of Carter + Clinton got 222,000 per month.

Bush took over after Clinton had created 237,000 Net New Jobs per month.
Reagan took Carter 218,000 net new jobs down to 175,000 per month.

Clinton left Bush a spending of 1830 B Per Year.
Bush doubled it to 3600 B.

Bush inherited a 5700B Debt from Clinton.
He took it to 11,900B

Had he not given Rich Huge Tax Cuts he would have had a huge surplus.
His Tax Cuts for Rich deprived Treasury of $8500B of Revenue.
No Tax Cut and Bush would have had a $5300B Surplus.

20 years of 3 conservative presidents had this Horrible record.
Took the Debt of less than 1000B after 200 years and added on 8000B.
In 2009 they are spinning big time to blame Obama for huge debt.
Conservatives will spend millions tocover upp their Big Recession.

Much of that 8000B Debt add-on went to WALL STREET GAMBLERS.

The people do not know what has happened to them.
Shhh! Do not awaken sleeping Democrats.

Forbes list of 400 Richest reveals how many became Billionaires via corporate
takeovers and Hedge Gambling- 403 Billionaires—Avg Worth 3B
(1980=1Billionairess)----(1989=51)-----(2009=403)

Spectrum reports-7.8 Million families with worth over one million in 2009 up from 6.7 million a year earlier S&P up 68% over past twelve months—roll dem dice
4,2% pay in top bracket. Earn $372,000 up to 2000 million(2 billion)

How many Net new jobs created?
Carter + Clinton=222,000 per month
Reagan+Bush I+Bush II= 99,.000

2500 Billion in Reagan + Bush Tax Cuts= many Billionaires

Right Wingers yell--- Rich Pay most of taxes.
Income Taxes!Yes! They have most of the income.
From 1997 to 2001 the rich 1% took 24% of total national individual income “growth”\
CBO study of 2003 distribution of corporate profits—Top Income Earners-1% took 49%--5% took 76%-- bottom 80% took 8%

Tax Cuts have Consequences. Some Good. Some bad. Some Horrible.
.Yet! Conservatives transferred much of taxation from Rich to Middle Class. Reagan elimination of REVENUE SHARING a disaster for Middle Class where taxes were transferred from Rich Income taxes to Middle Class in State and Local Taxes. Five Cent Gas increase. Tax on Payroll (SS)Income.

Was it a Designed Act of taxation transfer by Conservatives.

In 2008 the Middle Class paid about 30% of nominal Income in Federal-State-Local Taxes.
Top 10% paid 30% also. Progressive tax system?

Social Security Tax Increase in 1983 was it designed to hit the Middle Class and ease on the rich?

Greenspan + Reagan. Payroll Tax Increase on Middle Class.

Was Destruction of S&Ls a deliberate act of wealth transfer from 400 local investors to individual Rich on Wall Street?

Key actor Michael Milken became a Multiple (10) Billionaire with income of 550 Million in one year from raiding S&L deposits (plus) for his Rich Corporate Raiders on Wall Street.

Raiders like Perelman(worth 10B) and Ichan(worth 10B) became multiple Billionaires.
Sweat of Brow? Ho Ho.

Bush I had to borrow 140 Billion on 40 year bonds to pay for the raids on S&L's by Wall Streeters.
140B creates many Billionaires and Millionaires. Depositors money was used by those Corporate Raiders and bankrupted the S&L then the government pay off to depositors by Federal Deposit Insurance created Debt for Middle Class.

The Tax Panel estimates that in 2010 the top 1 million with incomes exceeding $500,000 will earn 241 Billion more than 80 Million who will earn under $40,000.

CHRIST, WHERE ARE THOU?

RAPE OF MIDDLE CLASS 1980-2007

Same ideology gave us Great Depression now Great Recession.

It is not a Depression due to:

Democratic Social Safety Nets such as
Social Security and Medicare and Unemployment Insurance

Only the uninformed vote to send conservatives to Washington.

Some type of Revolt will take place in next decade.

Democrats will continue to allow Conservatives with their huge right wing talk shows spreading lies to blame them.

Democrats need a national Megaphone informing all the people as to what has been done and how they have been RAPED by a few million RICH on Wall Street who have taken their Wealth.

I ask one thing.

PROVE ME WRONG. With numbers and facts not usual vile name calling
Political Research Historian since 1991 on Reagan-Clinton-Bush administrations.
author-Lifeaholic-Workaholic to Lifeaholic success
author-unpublished
All American Party-How Democrats created a great successful Middle Class and how Conservatives are determined to destroy it

[WCGreen]

1. good stuff....

[AnArmyVeteran]

2. Reagan & Conservatism are FRAUDS!

THE MYTH OF REAGAN: Conservative republicans must get on their knees and face east, or make that 'west' where Reagan is buried, to worship their 'conservative 'god'. This is the same conservative republican who increased our debt almost 400 percent in his 8 years. Of course, republicans blame the democratic-controlled congress under Reagan, but even considering that republicans controlled the senate for part of Reagan's term, Reagan never once vetoed an appropriations bill. And Reagan also never proposed one balanced budget in his eight years as president. Apparently the buck didn't stop at Reagan's desk. But one thing that did stop was the truth about the actual history of Reagan. Neo-conservatives began rewriting history in the 1990s to glorify Reagan so they could further pollute our government with their failed economic agendas.

Side note: Notice how not one conservative or republican has mentioned the doubling of the market value since Obama was sworn in? Conservatives = Dishonest Fucking Hypocrites!

For the TRUTH about CONSERVATIVE FISCAL FAILURE check out the CHART at this SITE: http://www.lafn.org/gvdc/Natl_Debt_Chart.html

[deutsey]

3. I remember hearing Pat Robertson, of all people, back in the '80s

bemoan how the gap between rich and poor was growing and how that wasn't a good thing.

I don't normally watch him, but I was channel surfing and just happened to come across his show and was surprised to hear him say what he did.

[AnArmyVeteran]

4. On Dec 8, 1990 Pat Robertson spent his entire show attacking John Lennon...

This may stray a bit from the original topic, but relevant nevertheless. In 1990, on the 10th anniversary of John Lennon's murder, Pat Robertson, the television 'evangelist', spent an hour condemning John Lennon as being anti-god and evil.

Pat Robertson, the same radical right winger who proposed assassinating other world leaders, used a flip chart with every line from Lennon's song "Imagine". Robertson attacked every line, one by one. He even attacked the line 'brotherhood of man'.

The real evil was in the hate-filled hypocrite Robertson. Robertson obviously never even bothered to listen to John Lennon's song "Beautiful Boy", a song about a father's love for his son. I doubt Robertson would even understand the song about a father's love for his son even though the Bible is a story about a father's (God) love for his son (Jesus).

It is unfortunate that Robertson is a 'leader' who has the ability to dupe and manipulate so many illiterate, ignorant and hate-filled people into believing his right wing agenda. It is sad how Robertson's clout among the religious extremists in the US caused them to vote for the likes of the evil criminal GW Bush, who is responsible for the murder of almost 5,000 American soldiers and hundreds of thousands of innocent Iraqis. And all of their deaths were the result of Bush deliberately lying to go to war so he could funnel hundreds of billions from our treasury to the pockets of corrupt corporations in the form of no-bid contracts.

God help spare us from the evilness and ignorance of the republican party and religious fanatics in the United States. John Lennon would be bravely speaking out against the tyranny of the right wing mutants of today just as he did while he was alive. John was eloquent in his commentary of his times and he is deeply missed today. We the people need more leaders like John Lennon to speak out for them.

It is too bad we lost such a great voice for social justice and all of the wonderful music John could have created for the world during the past 30 years since he was murdered. The same delusional sickness that consumed the mind of the murderer of Lennon also resides in the mind of people like Pat Robertson and his followers.

Amen, and amen... (but I pray to the real God, not the god of the right wing of the republican party, ie, the 'god of capitalism'. If Jesus were to return today right wing republicans would crucify him all over again because Jesus fed the hungry, he gave to the poor, he associated with flawed people, he healed the sick, and he gave hope to the downtrodden).

Imagine is one of the most beautiful songs ever written, but it took the evil of Pat Robertson to cast his evil darkness over it.


NOTE: After catching Robertson's attack against John I called his 'prayer line' and tied up their phone to keep other people from giving them money. Then I heard where a guy created an auto dialer which called all of Robertson's phone numbers 24 hours a day tying them up and preventing people from giving away their life savings. This man's mother had just been swindled by Robertson into giving everything she owned to Robertson's 'church'. I thought this guy was a hero, but when Robertson's gang found out who was calling they filed federal charges against him. I never heard about what happened when the guy went to trial, but if I was a juror in that case I wouldn't have cared what the law stated. I would find him innocent because he helped prevent a lot of people from being victimized by corrupt, evil thugs like Pat Robertson and the entire religious right.

[upi402]

5. imagine

no religion

[deutsey]

6. He probably got a lot of his ammo for character assassination from this book:

The Legacy of John Lennon: Charming or Harming a Generation? By David Noebel (1982)




http://www.amazon.com/Legacy-John-Lennon-Charming-Generation/dp/0840757867

I remember seeing this in a local bookstore in the '80s. I didn't realize until just now, however, that Noebel's disdain for Lennon and the Beatles goes way back to '65 with this gem:


http://www.conelrad.com/books/print.php?id=354_0_1_0

:eyes:

[AnArmyVeteran]

8. Wow, what a treat. I remember the bottom book... AWESOME FIND!

[AnArmyVeteran]

9. Wow, what a treat. I remember the bottom book... AWESOME FIND!

[dajoki]

7. K&R