A Quote by David Stockman
In 1985, the top five percent of the households - the wealthiest five percent - had net worth of $8 trillion - which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five percent have gained more wealth than the whole human race had created prior to 1980.
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I think everybody benefitted from what I am calling a bubble finance system, a bubble economy and if we're ever going to right the system, we're going to have to stop this explosion of the federal debt. We need huge spending cuts, OK? Don't get me wrong, we need to raise regular taxes too but even beyond that it's not going to hurt if we want to reset the system to ask those who have benefitted disproportionately - remember, we got $60 trillion of net worth in the household sector. $45 trillion of that belongs to the top 5 percent.
This is what oligarchy looks like: Today, the top one-tenth of 1 percent owns almost as much wealth as the bottom 90 percent. The top one-hundredth of 1 percent makes more than 40 percent of all campaign contributions. The billionaire class owns the political system and reaps the benefits from it.
The bottom quarter of the human population has only three-quarters of one percent of global household income, about one thirty-second of the average income in the world, whereas the people in the top five percent have nine times the average income. So the ratio between the averages in the top five percent and the bottom quarter is somewhere around 300 to one - a huge inequality that also gives you a sense of how easily poverty could be avoided.
This is a very important issue that the corporate media chooses not to talk about a whole lot, that we have an economic system which is rigged, which means that at the same time as the middle class of this country is disappearing, almost all of the new income and wealth in America is going to the top 1 percent. You have the top one-tenth of 1 percent owning almost as much wealth as the bottom 90 percent - 58 percent of all new income is going to the top 1 percent.
In the last recession, 99 percent of us have lost wealth, but did you know that the top 1 percent increased their wealth five times? It tells you they create recessions so they get wealthier.
People learn twenty-five percent from their teacher, twenty-five percent from listening to themselves, twenty-five percent from their friends, and twenty-five percent from time.
By 2015, the top 1 percent of families took home more than 20 percent of income. Wealth distribution was 10 times worse than that: the families in the top 1 percent owned as much as the families in the bottom 90 percent.
After 40, your chances of getting pregnant are between two and eight percent, and in my particular case, they were less than five percent.
Black Ken' debuted number one on iTunes in hip-hop, and top five or ten top, top five on the whole iTunes, on all genres. It was really cool to be able to self-produce.
This is ten percent luck, Twenty percent skill, Fifteen percent power of will, Five percent pleasure, Fifty percent pain, and a hundred percent reason to remember the name
The distribution of wealth is even more unequal than that of income. ...The wealthiest 5% of American households held 54% of all wealth reported in the 1989 survey. Their share rose to 61% in 2010 and reached 63% in 2013. By contrast, the rest of those in the top half of the wealth distribution ?families that in 2013 had a net worth between $81,000 and $1.9 million ?held 43% of wealth in 1989 and only 36% in 2013.
Wages for the ninety-nine percent have gone down, steadily, since 2008. They've gone down especially for the bottom twenty-five percent of the population. This means that they've gone down especially for Blacks and Hispanics and other blue-collar workers. Their net worth has actually turned negative, and they don't have enough money to get by.
If you're really concerned about deficits, you cannot take seriously a budget that would give $30 billion a year worth of tax cuts to not just the top 1 percent but the top 0.1 percent.
Do you realize that I have had five albums in the Top 30. Elvis and The Beatles have never done that. I had five singles in the Top 5, I mean, no one's ever done that.
Why did I not join one of the top five clubs in Europe? Because I am no longer one of the top five players around, and neither are Inter among the five best clubs.
People who read me seem to be divided into four groups: twenty-five percent like me for the right reasons; twenty-five percent like me for the wrong reasons; twenty-five percent hate me for the wrong reasons; twenty-five percent hate me for the right reasons. It's that last twenty-five percent that worries me.
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