http://www.stlouisfed.org/open...4667-9641-6b16d64db2f5

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

That's unsustainable, and the empty promises of centrists have failed. Either we recover the hoarded wealth of the 1% and invest it in education, housing, and living wages for organized workers or we slip into autocratic fascism where the rich puppet masters feed table scraps to the angry white base and maintain a police state to suppress dissent. There'll be nowhere to hide, not even on a pig farm.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

. In 1989, the total household wealth in the U.S. was $32.87 trillion (2016 adjusted dollars)...................... . In 2016, total U.S. household wealth amounted to $86.87 trillion................. wealth is NOT the same as Income .................... SO not only did household wealth more than double....... But INCOME per household also rose from 28,000 to 40,000....................... What the study doesn't discuss is that the top %10 of earners in 1989 is NOT the same people who make up the top %10 in 2016. Because in 2016 there are 70,000 MORE people in that top %10......................... When Income increased across the board............Minorities were able to accrue more wealth...................A white familys share of wealth rose by %20 in 18 years but Minority families share of wealth rose by %100 during that same time frame.....The other parts of the study, yes people with college education earn more and so also accrue more wealth.... Older families, those who have been earning income for a longer period of time, yes they have accrued more wealth than families that haven't been working as long.......... College grads were hit hard by the 'Great depression' a term the study says include the years 2007 through 2013... College family wealth declined by %24 and non-college families wealth declined by %48 between the years 2007 and 2013............................... The study shows that financial choices played a bigger role than income fluctuations in determining wealth outcomes in recent years...............................

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The wealth creator myth is specifically debunked with the proof of the hoarding. There was an economist that proposed a time limit on money that made it worthless past its "do not hoard" date. I am fascinated how the same people who argue for hoarding under their wealth creation myth would be able to argue against money with an expiration date.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

I don't know what the proof of hoarding would be.................Most wealth created is in the form of house ownership and that house going up in value, stocks and savings are also a part of wealth that is created when people have an increase in incomes..... ......... In the years 2007 through 2013... real wealth went down by almost %50 for a lot of people. Peoples choices on how the spent their income was the largest determinant to whether they created wealth or not. expiring money would cause problems in my opinion.... Instead of paying employees money that expired a company could pay people in vouchers that are good at the company store and they could pay people in housing stamps, good at the company housing department......It seems familiar like it has been tried before but without a historical background I couldn't say for sure....

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Labor creates all wealth

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Well, that's what Marx said. But name any wealthy communist countries.

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I :heart; Q

"Labor is the great producer of wealth; it moves all other causes."
-Daniel Webster

I doubt we would agree on a standard of wealth. We're the only developed country with no national healthcare system, getting sick is the #1 cause of personal bankruptcy, and 60% of the people don't have $1K in the bank.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Labor creates all wealth ...............NO it doesn't...................Apparently hoarding works too but I don't know the mechanism.... Wealth in America is Home ownership, the value of a persons home is wealth, it can be sold, traded, it can be given to ones descendants......Labor earns a wage, that is sustenance......... Capitalism enables accumulation that leads to ownership and ownership is wealth........ Labor without capitalism is Slavery and Brutality.............Mikhail somebodyornother

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wealth is home ownership................... greed is good............. wealth is ownership and ownership is wealth and buy and sell me I want sustenance to buy a home..........Somedummy

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Edited: 09/24/2019 at 11:36 AM by RustyTruck

The "no millionaires left behind" crowd are not creating their wealth with home ownership. Most are busy trying to keep their inheritances from being taxed, paying no income tax because they live off their capital gains at half the rate a pay check would be taxed and complaining that "Americans are getting lazier every year." Income pays your bills, wealth gets you ahead. Most homeowners are only marginally able to create "wealth" beyond their income. This is not about them. This is about the richest 1% attacking their government and any taxes that they cannot "avoid" legally with some phony argument to hoard their wealth instead of "creating" jobs or businesses that employ people.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

home ownership is GREED, ................says the Socialist proponent who would rather live with Slavery and Brutality then with Privilege and injustice..........But then he doesn't refute anything I said about labor just earning a sustenance, about capitalism enabling the accumulation that leads to ownership, and ownership being wealth...... Doesn't refute any of that just labels it GREEDY.............

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The "no millionaires left behind" crowd are not creating their wealth with home ownership. Most are busy trying to keep their inheritances from being taxed.................. NO this is not just about the top %1... read the article............ this is about wealth as opposed to income.... the whole article is about wealth..........It shows that people CAN ACCUMULATE wealth....it shows that they do and have created and accumulated wealth...................except from the years 2007 through 2013.. those years show a loss of wealth...............BUT people who work under a capitalist form of government can accumulate wealth.... The article shows that over 70,000 people JOINED the riches %10......it shows that minorities DOUBLED their Wealth over the length of the study...............and it showed that Financial CHOICES were the largest determinant over wealth accumulation......

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You make this shit up. This about millionaires and billionaires attacking their own government to avoid paying taxes. Home ownership, even under the most extrapolated definition of Socialism, is revered. The same way the socialism of the VA hospital and benefits, social security, medicare and Medicaid, and SNAP benefits that actually prevent people from starving in country where obesity is a national epidemic.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

I own my home outright, it's my personal living space, it's not my "wealth". I pointed out (as many have) that labor creates all wealth. An idle factory produces nothing. But that wealth is stolen from labor, they are paid a subsistence wage (wage slavery), and the stolen wealth is accumulated by the capitalists, which they then use to purchase government and police who do their bidding. I'm not refuting that aspect of what you said, you're quite right about it, you just misunderstand your place in it. You're a peasant who thinks he's a temporarily embarrassed millionaire.

I bet you look up your home value on Zillow and think about how "wealthy" you are...

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Edited: 09/24/2019 at 12:49 PM by RustyTruck

. We also find that many families across the board are striving for more economic security...we discuss trends in a series of charts and discuss pathways toward building that security. INCOME includes: wages, interest, capital gains, food stamps, Social Security and all other sources of income. People INCOME was worth $7.12 trillion in 1989 and grew to be worth $12.88 trillion in 2016...INCOME ALLOWS A FAMILY TO GET BY; WEALTH ALLOWS A FAMILY TO GET AHEAD. A family's net worth, OR WEALTH, is its ASSETS - things like SAVINGS, 401(k)s and REAL ESTATE - minus its debts - things like mortgages, credit card debt and student loans....THIS IS IN THE LINK.....READ IT............In 1989, the total household wealth in the U.S. was $32.87 trillion (2016 adjusted dollars). . In 2016, total U.S. household wealth amounted to $86.87 trillion....................Look at the white/Black wealth gap chart......while Whites wealth increased %20, Blacks wealth increased %100 BUT here's the catch.... Black wealth had increased by %200 from 1989 to 2001 but then LOST %33 from 2004 to 2013.. ending up with only a %100 increase........ ALL OF THIS IS IN THE LINK.....WHAT THE HECK HAPPENED BETWEEN 2004 and 2013 THAT CAUSED SUCH A LOSS OF WEALTH.....The college and generation wealth gap is understandable and expected............ college people earn more and accrue at a faster rate, older people have been accruing for a longer time..................THE SOLUTIONS are to BUILD WEALTH.... READ IT..... 1) have cash on hand.......2) invest early.......3) get a college education/ make college affordable..........4) BUY A FRICKEN HOUSE.........and build (in the buy a house section).. Build a diversified balance sheet...... LABOR, earns an INCOME... Capitalism allows us to build wealth..........wheres the drop the mike Meme???

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Are you seriously minimizing the college and generational wealth gap as you overlook the GOP elephant in the room reducing revenues? Seriously?

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

nobodyelse thinks that America can just "work real hard" and recover the lost revenues from giving the wealthy an undeserved and fiscally dangerous tax cut

Are you seriously minimizing the college and generational wealth gap as you overlook the GOP elephant in the room reducing revenues?................................LHM.....NO, I am not minimalizing those wage gaps, I underplayed them because EVERYBODY knows about them and the mechanisms whereby a person with a college education gets a way better job and a way higher pay check than somebody that gets a high school diploma.............Since they get a much better job and get paid way more money.... They are able to build wealth, buy a house, start saving at a faster rate with more money than those without a degree....................................Generational gap is also well known and also should NOT NEED EXPLAINING..................Older people have been in the work force LONGER, have been collecting a pay check longer, their experience has allowed them to get promotions and raises....................Therefore, they also have MORE wealth than new comers to the workforce..............My question to you would be what revenues are the GOP reducing??? are you talking about tax revenues to the Guvment??? A tax burden reduces peoples ability to build wealth...........wealth being savings, home ownership, a 401K......... Tax breaks have allowed MORE people to build wealth................

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Somebody, you're going to have to do a better job of formatting your posts or I'm not going to read them. That may be a positive or negative for you, I don't know.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti