Wealth redistribution with the .01 percent: 5 business tycoons fighting income inequality

  • Article by: HANNAH DREIER , Associated Press
  • Updated: February 23, 2014 - 8:55 AM

As the middle class struggles to make gains and President Barack Obama strives to shine a spotlight on the issue of income inequality, an unlikely constituency is looking for ways to close the nation's growing wealth gap: A handful of top U.S. business tycoons.

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firefight41Feb. 23, 14 9:34 AM

The gap is growing wider. Income for the highest-earning 1 percent of Americans soared 31 percent from 2009 through 2012, after adjusting for inflation. For everyone else, it inched up an average of 0.4 percent. ************** My income increased approximately 20 percent during the same time frame. Just this year my daughters increased 33 percent.

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dentesterFeb. 23, 14 9:57 AM

The only people who are worried about the "wealth gap" are Marxists. If these rich guys are so worried about how much money they've accumulated, perhaps a 40-50% tax on wealth would be to they're liking. They don't pay much in income tax because most don't live off an income other than the interest on their wealth. Raising the income tax only hurts the working man. Tax their wealth and we'll see how they feel.

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pitythefoolsFeb. 23, 1410:03 AM

firefight41: "My income increased approximately 20 percent during the same time frame. Just this year my daughters increased 33 percent."

And global warming is not real because it's 2 degrees outside your window right now.

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firefight41Feb. 23, 1410:18 AM

"My income increased approximately 20 percent during the same time frame. Just this year my daughters increased 33 percent." And global warming is not real because it's 2 degrees outside your window right now. ****************** My statement is correct and can be proven. Your statement is false according to many scientists. You should try and use some sort of provable information.

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pitythefoolsFeb. 23, 1411:24 AM

firefight41: "My statement is correct and can be proven. Your statement is false according to many scientists. You should try and use some sort of provable information."

As usual missing the point. Your personal income and your daughters do not represent the aggregate of all incomes in the United States. Just as the weather outside your window is irrelevant when discussing global warming. And I LOVE the statement "according to many scientists." How many is "many?" 97% of Climatologists agree that man-made global warming is occurring. Now THAT'S "many."

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nimrod888Feb. 23, 1411:28 AM

This may be a radical idea, but how about we close the gap by bringing the middle class up, and stop dragging the wealthy down. Maybe if more people were forced to work for a living, gain experience and an education, more people would succeed. Simply handing out "free" money, "free" food, and "free" healthcare, makes it so one will longer work. Those willing to work will get richer while the vast majority of those taking entitlements will continue to get poorer. Too many people now make welfare a life style, not a stop gap.

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nimrod888Feb. 23, 1411:35 AM

posted by pity the fool: And global warming is not real because it's 2 degrees outside your window right now...................What? "Global Warming' has done more to hurt the poor and widen the income gap than just about anything else. Many are getting rich off this bogus premise while all pay more for everyday items, all in the name of "Global Warming". Everything costs more because of the farce known as "Global Warming". It has been proven beyond a doubt that the Earth has actually cooled over the last 20 years, yet we still pay mandated penalties, fees and higher prices for this bogus idea. Please enlighten us on what should the normal temperature be and how you arrived at that number?, based on 4.5 billion years of the Earth's existence.

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nimrod888Feb. 23, 1411:44 AM

How many is "many?" 97% of Climatologists agree that man-made global warming is occurring. Now THAT'S "many.".................The most misused, untrue, and fabricated statistic out there. You cannot site the source of these 97% "climatologists", other than those funded to "prove" the Earth has been warming. It is misused propaganda like this that continue to widen the income gap, making poor people poorer by paying more for the biggest lie of century. The north pole had a climate similar to the Florida Everglades several million years ago, now it is the second coldest place on the planet. What happened? Your belief takes food off the table of low income people, all the while lining the pockets of Al Gore and his ilk. Talk about income inequality.

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pitythefoolsFeb. 23, 1412:23 PM

nimrod888: "The most misused, untrue, and fabricated statistic out there. You cannot site the source of these 97% "climatologists", other than those funded to "prove" the Earth has been warming"

What a pathetic response from one of the worst deniers out there. The 97% comes from a year long study covering 2,258 articles published in peer-reviewed journals between November 2012 and December 2013, written by a total of 9,136 authors. You have no basis to say they are funded to "prove" anything, yet claim there is a global conspiracy of Climatologists, and that every one of them is unethical and no one would have reported such a conspiracy to the media. Right. Conservatives. Conspiracies everywhere! If I close my eyes, they'll go away! I feel pity for you. I really do.

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flatstanleyFeb. 24, 14 9:25 AM

I would be curious to know the thoughts of our GOP commenters on the following quote from the article. I agree with Unz that the GOP approach to income inequality actually futhers the need for more government assistance rather than lessen it. "The thing that's really shocking is that the Republican response to the problem is to call for increased welfare spending. From a free-market perspective, businesses should compete without subsidies," Unz said. "If they can't compete, then maybe they should go out of business."

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