Comments about ‘Gap widens between U.S. rich, poor as top 1 percent controls 25 percent of wealth’

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Published: Tuesday, Sept. 27 2011 9:36 a.m. MDT

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cpafred
SALT LAKE CITY, UT

I lived near Inglewood in LA during the "Rodney King" riots and I can tell you there's a very very fine line between civil obedience and pure chaos. A group of people felt they weren't being treated fairly (it doesn't matter whether they were or weren't, only their perception mattered). My neighbors who one day were shopping in the same stores, attending the same schools, etc. as I were the next day burning and shooting at the "haves". This scene repeats itself around the world regularly (as it recently did with French teenagers).

I believe we are approaching that day again, and most of the people talking (and talking and talking) on this website seem totally oblivious to it, but are fueling the growing discontent. It will be interesting to see if your tunes change regarding graduated taxation once the rioting starts and your paid government officials stand helplessly by and watch your neighborhoods burn as they did in LA.

cpafred
SALT LAKE CITY, UT

Voice of reason: What is your source?

Christy
Beaverton, OR

Gap widens between U.S. rich, poor as top 1 percent controls 25 percent of wealth

And redshirt defends Paris Hilton.

If this doesn't explain how severely messed up the conversation in this country has gotten, I don't know what does.

carman
Wasatch Front, UT

To UtahBlueDevil:

Don't confuse formal education with education. Bill Gates and other highly successful people like him are HIGHLY educated. Without education in areas demanded by the marketplace, you will be poor. Guaranteed.

Voice of Reason
Layton, UT

cpafred - As I noted earlier, my source was directly from the latest IRS gross income data, and the latest BLS CPI data. They won't let me post weblinks here, but as a CPA I'm sure you could easily find it on your own.

Let me say it again: incomes for the poorest among us need to be measured not against others, but against their own growth in cost of living. that's because the poor could increase their "share" of national wealth and see the rich decrease their, but still lose ground to inflation. Likewise, they could see their "share of wealth" decrease and the rich's increase, but still gain ground against inflation and improve their situation...this is what has actually been happening in recent years, especially under GOP Congresses.

In other words, a rising tide really DOES raise all boats...just because one boat raises higher does not mean another boat has to sink, as the left keeps repeatedly saying in a transparent effort to foster class warfare.

LDS Aerospace Engineer
Farmington, UT

VST | 9:41 p.m. Sept. 27, 2011
Bountiful, UT
@LDS Aerospace Engineer,

I have no idea who you work for, but whoever it is, you are being ripped off at those rates which equate to $35K to $73K per year. Before I retired as an Engineering Manager (Aerospace), I was hiring newly graduated engineers out of college and was offering them starting salaries at about $50K per year and that was over eight years ago. $75 to $90K per year was the norm for journeyman engineers - higher for senior/lead engineers.

Engineers are not wealthy, but they are not starving to death either.

=================

Times have changed my friend,
and you are completely out of Out of touch with reality.

Fred44
Salt Lake City, Utah

Voice of reason I guess what you are saying is that the poor are better off, because according to your statistics they have made an ever so slight increase over the rate of inflation, while at the same time the wealthy are up in the hundreds of percentage points over the rate of inflation is proof that this economy is working for everyone? Could we at least agree that this economy is working a whole lot better for the rich than it is for the poor.

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