A Quote by William J. Clinton
If you wanna maintain 20 percent of the world's income with 4 percent of the world's people, you gotta first of all have more shared prosperity and shared growth.
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For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
Free software is part of a broader phenomenon, which is a shift toward recognizing the value of shared work. Historically, shared stuff had a very bad name. The reputation was that people always abused shared things, and in the physical world, something that is shared and abused becomes worthless. In the digital world, I think we have the inverse effect, where something that is shared can become more valuable than something that is closely held, as long as it is both shared and contributed to by everybody who is sharing in it.
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
From an economic perspective, women are treated unfairly: they perform 66 percent of the world's work and produce 50 percent of the food but they only earn 10 percent of the income and own 1 percent of the property.
One percent of the equity, 1 percent of the profits, and 1 percent of the people go into Google.org. The most important asset isn’t money, it’s people. One percent of the people means 60 or 70 of the smartest people in the world trying to solve some of the biggest problems in the world.
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.
President Obama's approach embodies the values, the ideas and the direction America has to take to build the 21st-century version of the American Dream: a nation of shared opportunities, shared responsibilities, shared prosperity, a shared sense of community.
If we had 3 percent growth, which is what we're trying to get to, what we're at, by the way, right now, we're trying to maintain that 3 percent growth. If we had been at 3 percent growth over the last ten years, the budget very nearly would be balanced in 2017. That's how big a difference it makes when you grow the American economy that additional 1 percent over ten years.
Regarding the Economy & Taxation: America's most successful achievers do pay a higher share of the total tax burden. The top one percent income earners paid 18 percent of the total tax burden in 1981, and paid 25 percent in 1991. The bottom 50 percent of income earners paid only 8 percent of the total tax burden, and paid only 5 percent in 1991. History shows that tax cuts have always resulted in improved economic growth producing more tax revenue in the treasury.
We need more than individual value systems; we need a shared vision. A nation is held together by shared values, shared beliefs, shared attitudes. That is what enables a people to maintain a cohesive society despite the tensions of daily life. That is what enables them to rise above the conflicts that plague any society.
Oil production, energy production are growing, though the latter has gone down by about 1 percent here, I believe... By the way, we occupy the first place in the world in gas export, accounting for 20 percent of the world market. We are also first in the sphere of liquid hydrocarbons export.
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.
Shared world has done some world building and brings (in the case of FR and SW) a big audience. With your own work, you're more creatively free. In a way, the shared world stuff has a high floor but a ceiling.
History shows that when the taxes of a nation approach about 20 percent of the people's income, there begins to be a lack of respect for government.... When it reaches 25 percent, there comes an increase in lawlessness.
My view is there will be problems and bad people as long as the earth exists, and since we're moving into a completely interdependent global environment, we're better off building a world we'd like to live in when the United States are not the only military superpower. That is, we need to build a world of shared responsibility, shared benefits, and shared commitment to our common humanity.
What democratic socialism is about is saying that it is immoral and wrong that the top one-tenth of 1 percent in this country own almost 90 percent - almost - own almost as much wealth as the bottom 90 percent. That it is wrong, today, in a rigged economy, that 57 percent of all new income is going to the top 1 percent. That when you look around the world, you see every other major country providing health care to all people as a right, except the United States.
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