Drip Drip Drip

[rushmc 23]

Amazon

MMMMMMM Got TRICKLE???

Here is how much economic progress America has made in the 21st Century: the average taxpayer’s 2009 income was at the same level as 1997.

Average 2009 income was $54,283, just $18 more than in 1997 when you adjust for inflation, not that anyone would notice a difference of $1.50 a month in their pocket.

And compared to 2007, the last peak year of the economy, average income fell a painful $8,588 or 13.7 percent in real terms. Having $716 less each month is something most people would notice.

These figures come from the newest tax return data issued by the Internal Revenue Service. You won’t find the numbers above at the IRS website, just raw numbers that I use to calculate changes in incomes, taxes paid and related information.

You also won’t find this data analyzed in most of the mainstream press because our major newspapers and broadcast outlets are too focused on what politicians stay instead of what they do and what the official measures of economic performance tell us.

When you hear politicians saying the cure for what ails our economy is to cut taxes, and that high-income Americans are the job creators who will stop creating jobs if their taxes are not cut more, think about what the data show.


So here is what the latest data show, starting with the big picture:

The total income reported by all Americans in 2009 was 4 percent less than in 2000. Since the country’s population grew by more than 25 million people during those years that means not just a smaller pie, but thinner slices all around.

The reason our economy sits stuck in the doldrums is not taxes, which are much lower now than in 2007, especially for the highest income Americans. Indeed, as a share of the economy the income tax is at its lowest level since Eisenhower was in his first term.

Individual income taxes in 2010, other data show, were one-third less per capita than in 2001, a recession year when the tax cuts sponsored by President Gorge W. Bush took effect. Total income taxes have never reached the amount collected in 2001 despite a growing population, a situation that contributes mightily to our federal debt and our failure to thrive economically in the 21st Century.

Changes in economic conditions and in policies set by our elected leaders in Washington and the state capitals are pushing down wages for most people and encouraging elimination of jobs, especially public sector jobs on which the economy relies to provide healthy, educated workers and otherwise grease the wheels of commerce.

Employers have plenty of money to invest. American corporations have roughly $2 trillion in cash, nearly $7,000 per American. They have so much idle cash that they cannot even invest at a high enough interest rate to keep pace with inflation.

Putting that money to work would mean more jobs, more income, more taxes and smaller deficits that could quickly turn into surpluses if our political leaders thought more about numbers than scoring political points

Yet again the left/socilaists manipulate data to create (out of thin air) wanted conclusions.

Reminds me of the hockey stick


http://www.breitbart.com/Big-Journalism/2014/05/24/Financial-Times-Piketty-Didnt-Make-a-Mistake-Manipulated-Data

Quote

Financial Times economics editor Chris Giles says French economist Thomas Piketty's best-selling "Capitalism in the 21st Century," about rising inequality in the West, contains serious errors that undermine his conclusion that wealth distributions are widening.

Giles says there are clear examples of some "fat finger" mistranscriptions and compares the situation to omissions found in Reinhart's and Rogoff's data on debt levels and growth.

But while the two Harvard professors' errors seemed to have been unintended, Giles levels a more serious critique: that Piketty actively manipulated his data.

But wth
With a serial liar leading the party
what does one expect?

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Amazon 7]

From the other thread.


"I personally, I have to say this honestly, have a hard time understanding how anyone could vote for tax breaks for billionaires, for millionaires, for large corporations and then say we don't have the resources to protect our veterans," said Sen. Bernie Sanders, I-Vt., the measure's chief author, according to the Associated Press.

I guess veterans do not deserve any of your masters trickle either...

There are many costs to war... veterans have always borne the greatest costs.

[rushmc 23]

Amazon

From the other thread.


"I personally, I have to say this honestly, have a hard time understanding how anyone could vote for tax breaks for billionaires, for millionaires, for large corporations and then say we don't have the resources to protect our veterans," said Sen. Bernie Sanders, I-Vt., the measure's chief author, according to the Associated Press.

I guess veterans do not deserve any of your masters trickle either...

There are many costs to war... veterans have always borne the greatest costs.

the mindset of the left who are green with envy

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Amazon 7]

rushmc

***From the other thread.


"I personally, I have to say this honestly, have a hard time understanding how anyone could vote for tax breaks for billionaires, for millionaires, for large corporations and then say we don't have the resources to protect our veterans," said Sen. Bernie Sanders, I-Vt., the measure's chief author, according to the Associated Press.

I guess veterans do not deserve any of your masters trickle either...

There are many costs to war... veterans have always borne the greatest costs.

the mindset of the left who are green with envy

What part of giving huge tax breaks and tax payer money to the very richest in this country gets you so excited, since those same people have shipped Americans jobs over seas and harmed millions of Americans while socking that money away in the Cayman Islands or Switzerland.

Sorry that is not envy... it is disgust.

I bet you still believe they are legitimate patriotic Americans.