A Quote by Jeb Bush
There's 6 million people living in poverty today, more than when Barack Obama got elected. 6.5 million people are working part-time, most of whom want to work full-time. We've created rules and taxes on top of every aspiration of people, and the net result is we're not growing fast, income is not growing.
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We've created rules and taxes on top of every aspiration of people, and the net result is we're not growing fast, income is not growing.
Barack Obama got ten million more votes than John McCain. I'd like to believe that none of the millions of people laid off during Obama's time in office will vote for him again. If that happens, a conservative will be elected in 2012 and we can work to fix what Obama has broken.
Most of the productivity gains appear to go to the top 1 percent. Most people don't have enough income and as a result, they borrow additional money by using their credit card and they fall into high debt. The result of the growing income gap is a slower growing GDP (too few people with money to spend) and a rising tide of indebtedness.
For the typical Americans, most of their income comes from wages. So, for people making less than $1 million a year, about 70% of their income comes from wages. But for those making more than $1 million, for the top 0.3%, it's the opposite.
As the stars make more and more money - one person gets $12 million, $14 million, $15 million, $20 million - everyone else is expected to work for peanuts. And that includes some extraordinary actors who are, today, working for peanuts because the production companies have decided they don't need to pay these people, and they don't.
There are millions more people living in poverty today than the day that Barack Obama with Hillary Clinton at his side, stepped into the oval office.
We have landowners, small growers. We have people who are holding onto land that was acquired by their families after slavery. They need to produce some of the food we eat, so they can pay the taxes and hold onto the property. Taxes keep going up. We, and by we I mean black people, are rapidly becoming a landless people. Our ancestors, coming out of slavery, acquired more than 15 million acres of land. Today, we're probably down to less than 2 million acres.
For me, as I suspect for most people, there comes a point where you have enough. If you've got £20 million, why keep going until you've got £100 million or £1,000 million? Does anyone need another vast yacht or private jet or a house full of gold?
Cutting taxes for very high income people an average of more than $100,000 a year for people that make more than a million dollars a year is not an effective way to get the economy going.
The richer people, when they get another $100,000, or another million, or 10 million, don't tend to spend it as much as the poorer people would if they got another $100 or $1,000 or $5,000. All the empirical evidence suggests that the rich tend to consume a lower proportion of income than middle and lower-income people.
They talk about class warfare -- the fact of the matter is there has been class warfare for the last thirty years. It's a handful of billionaires taking on the entire middle-class and working-class of this country. And the result is you now have in America the most unequal distribution of wealth and income of any major country on Earth and the worst inequality in America since 1928. How could anybody defend the top 400 richest people in this country owning more wealth than the bottom half of America, 150 million people?
Today there are a huge number of think tanks working on poverty-related issues; there are books written on the topic; and university centers being created to study poverty. But, at the same time, the media has a terribly hard time with this issue; it's very hard to convince editors and publishers to devote resources to complex investigations of the lives of America's poor. And, as a result, too often poverty is portrayed in stereotypes, in sound bites, in a few pat images rather than in its full Technicolor complexity and diversity.
Barack Obama's enemies are the people who make this country work. Barack Obama's enemies are those who succeed. Those are the people whose income he wants to redistribute. Those are the people whose income he wants to take, using the power and the force of the federal government to do it.
If there are healthy - and growing - numbers of people working and paying taxes, we are better able to pay the costs of people living longer.
And if you look at the reality in the United States, where you have more than 40 million people below the poverty line and 42 million on food stamps, and then you look at poverty around the world, clearly the way we're running the engine of capitalism is not serving us well.
Many people say, "When I get a million dollars, then I'll be happy because I'll have security," but that's not necessarily so. Most people who acquire a million dollars want another and then another. Or they could be like a good friend of mine who made and lost every dime of a million dollars. It didn't bother him a bit. He wasn't excited about it, but he explained to me, "Zig, I still know everything necessary to make another million dollars, and I've learned what to do not to lost it. I'll simply go back to work and earn it again.
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