They want it all - the Occupiers have the rich pegged

[Guns Guns Guns]

The budget office report tells us that essentially all of the upward redistribution of income away from the bottom 80 percent has gone to the highest-income 1 percent of Americans.


An earlier report, which only went up to 2005, found that almost two-thirds of the rising share of the top percentile in income actually went to the top 0.1 percent — the richest thousandth of Americans, who saw their real incomes rise more than 400 percent.



Who’s in that top 0.1 percent?



Are they heroic entrepreneurs creating jobs?



No, for the most part, they’re corporate executives.



Recent research shows that around 60 percent of the top 0.1 percent either are executives in nonfinancial companies or make their money in finance, i.e., Wall Street broadly defined.



Add in lawyers and people in real estate, and we’re talking about more than 70 percent of the lucky one-thousandth.



http://www.nytimes.com/2011/11/04/opinion/oligarchy-american-style.html?src=me&ref=general

 

[Rune]

“The overall point here is that the rich continue to be in great shape, in relative terms. Indeed,
their net wealth to income ratio (Figure 3) has risen since the 2001 survey was published. It
now stands at 8.4, in other words, net wealth is over eight times annual income. In 1995 this
ratio was a relatively meager 6.2. We think this rising wealth is the real reason why the rich
are happy to keep consuming, and are behaving rationally in so doing. They simply do not
need to save as much to maintain a healthy wealth balance, as they did in prior decades,
because their wealth is growing rapidly…

...Secondly, we believe that the rich are going to keep getting richer in coming years, as
capitalists (the rich) get an even bigger share of GDP as a result, principally, of globalization.
We expect the global pool of labor in developing economies to keep wage inflation in check,
and profit margins rising – good for the wealth of capitalists, relatively bad for developed
market unskilled/outsource-able labor. This bodes well for companies selling to or servicing
the rich…”



http://maximinlaw.files.wordpress.c...up-mar-5-2006-plutonomy-report-part-2-1-1.pdf

 

[Guns Guns Guns]

The GOP has presided over the largest transfer of wealth in history...there's class warfare, all right. The rich are winning.