Quote:
Originally Posted by Boo
I will vote McCain-Palin. I expect alot of controversy in the first couple years but reform is not easy. Palin has proven to be a reformer in Alaska. I voted for her once and have not been disappointed.
Obama's change will ruin the country. He has not said a word that I can believe or trust. No substance at all. Nothing in common with anyone that I personally know. He is just an icon for lost souls...... IMO.
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Goodness...there sure are a lot of these "lost souls".....probably all too lazy to "make it", best to call all of the "have nots", names....to demonize them....the powerless.....it certainly is in vogue, and it wins elections....
But, a little reality goes a long way to spotlight the contradictions in your reasoning:
Quote:
http://www.federalreserve.gov/pubs/o...ion.2004.3.pdf : (Page 12)
Concentration ratios. Because the Gini coefficient attempts to summarize many complex changes in terms of a single number, it may miss important variation for particular parts of a distribution or for particular subpopulations. A more detailed means of summarizing the relative distribution of wealth is the use of concentration ratios, the proportion of total wealth held by specific groups. In 2004, slightly more than one-third of total net worth was held by the wealthiest one percent of families (table 5). Although the estimated level of this share has changed over the surveys since 1989, the differences are not statistically significant. In 2004, the next-wealthiest nine percent of families held 36.1 percent of total wealth, again, a figure not significantly changed over the course of the surveys. This leaves less than a third of the total for the remaining ninety percent of the population. A subset of that group, families in the bottom half of wealth distribution, held only 2.5 percent of total wealth in 2004, and this figure is significantly different from the higher estimates for 1995, 1998, and 2001; of course, those differences reflect movements elsewhere in the distribution, but the statistical power of the tests is not sufficient to identify where among the groups shown the offsetting changes ccurred. A possible explanation of the decline for the lowest wealth group might be changes in their use of debt, but a separate examination of gross assets yields a pattern similar to that seen for net worth.
From Page 28:
Ownership shares. For some assets, the distributions of the amounts held are far more
disproportionate than the differences in ownership rates. Most striking is the 62.3 percent share
of business assets owned by the wealthiest 1 percent of the wealth distribution in 2004
(table 11a); the next-wealthiest 4 percent owned another 22.4 percent of the total. Other key
items subject to capital gains also show strong disproportions: the wealthiest 5 percent of
families owned 61.9 percent of residential real estate other than principal residences, 71.7
percent of nonresidential real estate, and 65.9 percent of directly- and indirectly-held stocks. For
bonds, 93.7 percent of the total was held by this group. The lowest 50 percent of the wealth
distribution, which held only 2.5 percent of total net worth in 2004, came close to its population
share only in holdings of installment debt (46.2 percent of the total) and credit card debt (45.7
percent of total outstanding balances). Although the 50th-to-90th percentile group held only 27.9
percent of total net worth, they came closer to holding their population share than any of the
other wealth groups. In the case of principal residences and associated debts, vehicles, and
credit card balances, they exceeded their population share; note that their income share was
equal to their population share in 2004.
Relative to the balance sheet for the wealth percentile groups in 1989 (table 11b), there
were substantial changes in amounts by 2004—for example total net worth rose 94.4 percent
over the period. At the same time, there was remarkably little change in ownership shares that
was statistically consistent. However, for principal residences and other residential real estate,
the data do show a significant increase in the share of the wealthiest 1 percent, which was mainly
offset by declines for the 50th-to-90th percentile group."
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America's wealthiest are the least taxed of any wealthy residents of post industrialized nations. GINI in France, according to the CIA Factbook, is 28, and in the US, 45. The wealth inequity in the US will be even more concentrated ..... The trend and the data demonstrate a continued elimination of households in the US potentially capable of real estate purchase. The destruction of real property valuations currently playing out in the US will have a much smaller impact on the wealthiest ten percent, who already own 70 percent of all of the wealth, because their wealth is much more diversified, as the above data clearly shows, than it is in the holdings of the next 40 percent, who own approx. 27-1/2 percent of the wealth....they were "house rich" before valuations began to plummet.