On Sat, 25 Sep 2004 16:50:28 -0700, Shawn Gordon <[log in to unmask]>
wrote:

>At 01:32 PM 9/25/2004, James B. Byrne wrote:
>>However, every reputable economic study involving transfers of wealth
>>between and within societies since 1960 to present demonstrates that
>>this claim is unsubstantiated and unfounded.  After declining
>>significantly form 1940 to 1960, the concentration of wealth in the
>>USA in the top 5% of the population has since increased to over 59%
>>of the total (and the top 1% controlled 38% of that total - 1998)
>>while the percentage of the population controlling less than 10% of
>>the total wealth has increased to something approaching 50% (the
>>bottom 20% effectively have no wealth at all and literally live day
>>to day).  Not only are the poor in the USA poorer than they were in
>>1975 their are more of them and their poverty is greater in an
>>absolute as well as a relative sense.
>
>How in the world can you say the transfer of trillions of dollars is
>unsubstantiated and unfounded?  I don't know about Canada, but it's a FACT
>in the US, we have indeed taxed the "wealthy" more and more and more over
>the years and given more and more and more to those who do not have as
>much.  This has absolutely nothing to do with the amount of wealth that the
>wealthy may have.
>
>the FACT is that in the US  the overwhelming majority of federal income
>taxes are paid by the very highest income earners. The top 1% of income
>earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top
>10% of high income earners, pay 63.5%. The top 20% of income earners pays
>78% of all federal income taxes.
>
According to the latest Forbes: There were never any more billionars then
now.


>Home ownership is at an all time high in the US as well.  Now maybe your
>figures take in to account all the illegal aliens in the US that are poor,
>which wouldn't really surprise me.
>
>

The banks own the homes not the people that live in them. 2 month out of a
job and they loose the house.

>
>Regards,
>
>Shawn Gordon
>President
>theKompany.com
>www.thekompany.com
>949-713-3276
>
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