The largest transfer of wealth in history

Time for a monetary reset. Make currency worthless. There is no other way short of violent revolution.

Don't forget that not only did the US taxpayer hand bankers over $1 trillion as part of the Bush bailout (only approved with help of Democrats), those same banks were also able to offset their corporate losses against their future taxes.

Effectively, the US taxpayer bailed them out twice.

originally posted by: Asktheanimals
Time for a monetary reset. Make currency worthless. There is no other way short of violent revolution.

Never has income inequality been so high between the poor and the rich without some sort of violent revolution.

They knew this in Russia in 1917, in France in 1789, and in USA in 1776.

originally posted by: pexx421

Now all this money goes directly into the pockets of the top 1%, is added to the massively growing national debt. That top 1% also gets almost all of their annual money from capital gains. What this means is that the money must be paid back in income taxes. The bottom 99% pays 87% of the income taxes, while the majority of the top 1% income is taxed at a much lower rate. This means that effectively the top 1% was given 18.5 trillion dollars that the bottom 99% will largely have to pay back. Of course this will never be paid off, so essentially the working class is being doomed to a declining standard of living just so the wealthy elite could get more money.

87%??? Where do you get that number? The top 1% pays 30% of all taxes and that is more than 95% of what all other tax payers pay. The bottom 50% pay no taxes, 50% to 94% pays about 30% and 95% to 98% pay about 30%, and that seems to be about right. Remember, if we taxed the very top (over 10 million income) by 70% it only comes out to another 80 billion of our 4 trillion.

BTW be carful when you say top 1% since that can start in some states as low as mid 200k, so those evil rich 1%ers could easily be your neighbor.



For me I pay about 50k in fed taxes each year with very little right offs available. No Roth IRA, no child tax credit and no in a plethora of other areas, and I ask people what price should I pay to be an American? Why should I pay 50k while you might pay much less or nothing for the same right? I'm not really complaining about what I pay, but I don't like others suggesting I'm not paying enough when they themselves pay very little.