Myrtle Beach Real Estate by Mirela

Fault Lines - The Top 1%

The richest 1% of US Americans earn nearly a quarter of the country's income and control an astonishing 40% of its wealth. Inequality in the US is more extreme than it's been in almost a century — and the gap between the super rich and the poor and middle class people has widened drastically over the last 30 years.

Meanwhile, in Washington, a bitter partisan debate over how to cut deficit spending and reduce the US' 14.3 trillion dollar debt is underway. As low and middle class wages stagnate and unemployment remains above 9%, Republicans and Democrats are tussling over whether to slash funding for the medical and retirement programs that are the backbone of the US's social safety net, and whether to raise taxes — or to cut them further.

The budget debate and the economy are the battleground on which the 2012 presidential election race will be fought. And the United States has never seemed so divided — both politically and economically.

How did the gap grow so wide, and so quickly? And how are the convictions, campaign contributions and charitable donations of the top 1% impacting the other 99% of Americans? Fault Lines investigates the gap between the rich and the rest.


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Comment balloon 7 commentsMirela Monte • August 04 2011 01:50AM

Comments

An important documentary. 



Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) about 9 years ago

I think that if you raise the taxes on everyone who make 250,000 or we will get less in revinue.  My source is IRS.  It has been shown time and time again that if you increase taxes people that have great wealth will stop making there money here and will make it overseas.

Posted by Elite Home Sales Team, A Tenacious and Skilled Real Estate Team (Elite Home Sales Team OC) about 9 years ago

Elite:  Yeah, it's been proven that "trickle -down" economics works.  That's why we are in the great situation we're in today.

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) about 9 years ago

Only one percent of the population takes in more than 20 percent of all earnings in the United States, for example. Since the 1970’s, the income levels of the top 10 percent in wealth increased four-fold; the remaining 90 percent of the country has had no income growth, when accounting for inflation and other cost-of-living increases.

And the U.S. government – not any branch and neither side – is fully helping to stop this anti-Democratic, non-capitalist movement from ransacking our Democratic capitalist country. The movers and the makers are led by the money shakers. And that’s probably never been more apparent than it is today.



Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) about 9 years ago

This is a 25-minute episode, which might be too long for some to watch. But if you only have a few minutes to spare, just slide the bar over to the 20:00 mark. You could even mute the volume. The next three-and-a-half minutes of the clip provides a rather vivid video grasp of the current economic situation in the U.S.



Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) about 9 years ago

You have clearly identified the problem. However, I have no confidence that the two party system currently occupying the seats of elected representatives have the values, character, or commitment to correct this problem.

Posted by George Bennett, Inactive Principal Broker, GRI (Inactive) about 9 years ago

Hi Mirela,lookings like we are in for some exciting times ahead.  thanks for sharing.

Posted by Ronald DiLalla, No. Orange Cty Real Estate (Century 21 Discovery DRE 01813824) about 9 years ago

Participate