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 > >* To join/leave the list, search archives, change list settings, * >* etc., please visit http://raven.utc.edu/archives/hp3000-l.html * * To join/leave the list, search archives, change list settings, * * etc., please visit http://raven.utc.edu/archives/hp3000-l.html *