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(American Thinker)   For the first time in history, except for all the other depressions and recessions, the US is getting poorer. Obama's role in this can be clearly seen in this graph, which begins plummeting in 2007 before leveling off in 2009   (americanthinker.com) divider line 76
    More: Ironic, Dungeons & Dragons deities, Russell Sage Foundation, Mises, political class, income distribution, percentiles, Great Recession  
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2019 clicks; posted to Politics » on 29 Jul 2014 at 11:46 AM (21 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



76 Comments   (+0 »)
   
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2014-07-29 09:11:10 AM  
I was told there would be no math.
 
2014-07-29 09:20:46 AM  
History's Greatest Monster.
 
2014-07-29 09:27:12 AM  
I love it when we have a bubububutBush! headline first thing in the morning.  That having been said... FTFA (for those who don't want to click on American Thinker):

She does not go out of her way to shield the Obama Administration:   ...much of the damage has occurred since the start of the last recession in 2007.


Yyyyep.
 
2014-07-29 09:28:29 AM  

Arkanaut: I was told there would be no math.


There usually isn't if you're a Republican.  And if there is, it's bad.
 
2014-07-29 09:32:39 AM  
WTF is this guy's problem?
 
2014-07-29 09:45:46 AM  
Before anybody thinks this was a reasonable article (god knows why considering the source):

There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens
.

Wish I had time to make the point by point rebuttal to those...
 
2014-07-29 09:50:41 AM  
Yeah, because we elected him to make the awful the status quo.

Jeebus, only farklibs would take solace in data like this.
 
2014-07-29 09:51:38 AM  

xanadian: I love it when we have a bubububutBush! headline first thing in the morning.  That having been said... FTFA (for those who don't want to click on American Thinker):

She does not go out of her way to shield the Obama Administration:   ...much of the damage has occurred since the start of the last recession in 2007.


Yyyyep.


I don't think this is so much of a "but Bush" headline as it is a "not Obama you farking dumbasses" one.  I mean, just look at the graph AT itself supplies:
admin.americanthinker.com

That's not a graph that says net worths are going down, that's a graph that says they've stopped going down.
 
2014-07-29 09:55:47 AM  

Slives: Before anybody thinks this was a reasonable article (god knows why considering the source):

There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

Wish I had time to make the point by point rebuttal to those...


I'll take this one at least.

Let's say I buy some stock for $50, and then a few months later I sell it for $150.  According to AT, when I sold that stock, my bank account went up by this much:
www.zieak.com

instead of this much:
elgarblog.files.wordpress.com
 
2014-07-29 09:58:08 AM  

Karac: xanadian: I love it when we have a bubububutBush! headline first thing in the morning.  That having been said... FTFA (for those who don't want to click on American Thinker):

She does not go out of her way to shield the Obama Administration:   ...much of the damage has occurred since the start of the last recession in 2007.


Yyyyep.

I don't think this is so much of a "but Bush" headline as it is a "not Obama you farking dumbasses" one.  I mean, just look at the graph AT itself supplies:
[admin.americanthinker.com image 593x500]

That's not a graph that says net worths are going down, that's a graph that says they've stopped going down.


Except, apparently, for the top 25%.  You know, job creators.

WE'RE DOOMED!!!
 
2014-07-29 10:01:41 AM  

Karac: xanadian: I love it when we have a bubububutBush! headline first thing in the morning.  That having been said... FTFA (for those who don't want to click on American Thinker):

She does not go out of her way to shield the Obama Administration:   ...much of the damage has occurred since the start of the last recession in 2007.


Yyyyep.

I don't think this is so much of a "but Bush" headline as it is a "not Obama you farking dumbasses" one.  I mean, just look at the graph AT itself supplies:
[admin.americanthinker.com image 593x500]

That's not a graph that says net worths are going down, that's a graph that says they've stopped going down.


And that means wealth redistribution and SOCIALISM
 
2014-07-29 10:03:36 AM  

IamKaiserSoze!!!: Yeah, because we elected him to make the awful the status quo.

Jeebus, only farklibs would take solace in data like this.


How do you even have internet in the abandoned train car you must be living in during these terrible times?
 
2014-07-29 10:29:19 AM  

Karac: That's not a graph that says net worths are going down, that's a graph that says they've stopped going down


Yeah, but why 1984?
 
2014-07-29 10:32:30 AM  

Karac: Slives: Before anybody thinks this was a reasonable article (god knows why considering the source):

There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

Wish I had time to make the point by point rebuttal to those...

I'll take this one at least.

Let's say I buy some stock for $50, and then a few months later I sell it for $150.  According to AT, when I sold that stock, my bank account went up by this much:
[www.zieak.com image 575x295]

instead of this much:
[elgarblog.files.wordpress.com image 640x266]


1.) Taxes on capital gains should be much, much higher.
2.) The very nature of capital should take care of inflation.
 
2014-07-29 10:38:44 AM  
This ideological nonsense is politically convenient and diversionary. There is no fixed pie where someone who gets a larger piece does so at the expense of someone receiving a smaller piece.


img.fark.net
 
2014-07-29 10:51:03 AM  
People talk about the ACA as Obama's great domestic achievement. I consider heading off that depression these farks tried to foist on us as his great domestic achievement, and there's really nothing he can do to top that.
 
2014-07-29 10:52:56 AM  
I intend to give this article the attention it deserves.

None.
 
2014-07-29 11:07:52 AM  

Slives: -Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.


This just in: capital gains aren't truly gains.

Maybe there's some kind of drugs that one can take to float over into their dimension. Or maybe the only way to truly get there is by being wealthy and disconnected from poor people.
 
2014-07-29 11:43:07 AM  
Crony capitalism (there is no such thing, but there is "crony government")

You're not getting passed over for promotion because the boss's nephew needs a new job, it's because Obama has been marking "less than satisfactory" on your annual reviews.
 
2014-07-29 11:43:30 AM  
And today's "number of sentences into an American Thinker article before my brain revolts:" 19. I think that's a record. But then I saw this:

"Atlas Shrugged showed where that leads."
 
2014-07-29 11:52:09 AM  
The key, of course, is to start living with giving money to multinational corporations. Do it, I dare ya!
 
2014-07-29 11:52:50 AM  
Yes, I made a typo.
 
2014-07-29 11:53:00 AM  
*glances at link*

*looks at "do not click" list*


images.yuku.com.s3.amazonaws.com
 
2014-07-29 11:53:02 AM  
Medians (or averages)...

Wrong from the get-go.
 
2014-07-29 11:53:05 AM  

Slives: Before anybody thinks this was a reasonable article (god knows why considering the source):

There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

Wish I had time to make the point by point rebuttal to those...


In fairness, that last one isn't too far off the mark.
 
2014-07-29 11:53:07 AM  
There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens
.

Inflationary data became a huge scam right around the time the way unemployment is calculated became all a big scam too.  I suspect we'll calculate it correctly beginning in January 2017 or barring that, January 2021.
 
2014-07-29 11:54:07 AM  

IamKaiserSoze!!!: Yeah, because we elected him to make the awful the status quo.

Jeebus, only farklibs would take solace in data like this.


Aaaannnd, time for you to go.

*plonque*
 
2014-07-29 11:54:29 AM  
oh the comments.....
 
2014-07-29 11:54:30 AM  
The real crisis is the GOP's fast-approaching potato famine.
 
2014-07-29 11:55:18 AM  

Angry Drunk Bureaucrat: Karac: That's not a graph that says net worths are going down, that's a graph that says they've stopped going down

Yeah, but why 1984?


They don't want to demonstrate when the top took off while the rest of us stagnated.  It smooths out the curve and makes it look like less of a problem.
 
2014-07-29 11:56:15 AM  
ventrellaquest.files.wordpress.com
 
2014-07-29 11:56:25 AM  
is Obama using his lack of leadership to lead us into the abyss?  AGAIN?

What else will this lazy, do-nothing dictator-in-chief do to us.
 
2014-07-29 11:56:27 AM  

UberDave: This ideological nonsense is politically convenient and diversionary. There is no fixed pie where someone who gets a larger piece does so at the expense of someone receiving a smaller piece.


[img.fark.net image 700x175]



humor.beecy.net
 
2014-07-29 11:56:38 AM  
The man is a monster.

i595.photobucket.com
 
2014-07-29 11:57:35 AM  
Am I missing something, or is this article admitting that median net worth started to decline when we hit the recession?  Because if that's the case...

3.bp.blogspot.com
 
2014-07-29 12:05:48 PM  
Is this Potatoe day, on the Politics tab?
 
2014-07-29 12:06:43 PM  

meat0918: Angry Drunk Bureaucrat: Karac: That's not a graph that says net worths are going down, that's a graph that says they've stopped going down

Yeah, but why 1984?

They don't want to demonstrate when the top took off while the rest of us stagnated.  It smooths out the curve and makes it look like less of a problem.


But why male models?
 
2014-07-29 12:08:34 PM  

nmrsnr: And today's "number of sentences into an American Thinker article before my brain revolts:" 19. I think that's a record. But then I saw this:

"Atlas Shrugged showed where that leads."


"Unless this trend can be reversed, there is little point in talking about income inequality, at least in terms of taking more from the doers and providing it to the less well-off.  Atlas Shrugged showed where that leads."

What is that? I don't even...

Don't they realize that that piece of shiat book is farking fiction?
 
2014-07-29 12:09:12 PM  
That's not ironic. That's delivering disinformation in easily digestible pieces in order to get the Facebook Warriors some material.
 
2014-07-29 12:11:06 PM  

qorkfiend: Slives: Before anybody thinks this was a reasonable article (god knows why considering the source):

There are several reasons. I would argue that most of the blame goes to government:
-Government is taking a much bigger share of the economy.
-Government understates inflation which results in an overstatement of real GDP.
-Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
-Government interventions have destroyed the economy's ability to grow.
-Government transfer payments have reduced the workforce, spreading a reduced output over more people.
-Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

Wish I had time to make the point by point rebuttal to those...

In fairness, that last one isn't too far off the mark.


True, but the encouraging began back in the '80s when the credit card companies and bank all "moved" to Delaware.
 
2014-07-29 12:12:35 PM  
Barack Obama stole my PIN during a shoe shine scam in downtown Chicago.
 
2014-07-29 12:13:02 PM  
Silly submitter! 2009 was the pre-coconut era.
 
2014-07-29 12:15:52 PM  

meat0918: Angry Drunk Bureaucrat: Karac: That's not a graph that says net worths are going down, that's a graph that says they've stopped going down

Yeah, but why 1984?

They don't want to demonstrate when the top took off while the rest of us stagnated.  It smooths out the curve and makes it look like less of a problem.


img.fark.net

That, and it would perpetuate the evil librul lie that there was a recession under St. Ronnie (peace be upon him).
 
2014-07-29 12:16:25 PM  

rumpelstiltskin: People talk about the ACA as Obama's great domestic achievement. I consider heading off that depression these farks tried to foist on us as his great domestic achievement, and there's really nothing he can do to top that.


Yeah, OK, you've got a point there...
 
2014-07-29 12:16:40 PM  

Slives: -Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.


The encouragement of debt was done so largely because the things incurred from it made a more invested person in society which meant lower taxes for other services.

Domestic home ownership meant you were less inclined to take a leak on your own lawn for fun which would mean the neighbors call the cops which are paid for by taxes.

Committing the debt incurred from college meant that after graduation you would be making more money which meant you would be putting more in taxes into the system.

The problem came when if you had a pulse and a paystub from the last 20 years you could buy a house with no money down.  The problem came when educational institutions became more interested in just getting easy loans for students and ignoring the crippling debt afterwards rather than grants or scholarships.

It's unreasonable to blame someone for wanting better, giving it to them and them failing when they were a crappy prospect for it under any circumstances.
 
2014-07-29 12:17:11 PM  

UberDave: This ideological nonsense is politically convenient and diversionary. There is no fixed pie where someone who gets a larger piece does so at the expense of someone receiving a smaller piece.

[img.fark.net image 700x175]



Well, no, they are correct in that the economy is not a zero sum game.
The problem they are ignoring, however, is that even with our gradually embiggening pie, the slice the 1% is taking is embiggening even faster. It's the primary point of Piketty's book.
 
2014-07-29 12:21:41 PM  

Epic Fap Session: Barack Obama stole my PIN during a shoe shine scam in downtown Chicago.


The used to call him "Spitshine Barry," swear to God.  Oh, he'd make your shoes look like farking mirrors.
 
2014-07-29 12:25:02 PM  
An American Thinker link means someone forgot to courtesy flush the internet tubes.
 
2014-07-29 12:26:40 PM  

qorkfiend: -Government's encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

Wish I had time to make the point by point rebuttal to those...


In fairness, that last one isn't too far off the mark.


I don't see government doing that at all (except perhaps by their own behavior).  That's a systemic issue that extends far beyond the scope of government.
 
2014-07-29 12:27:15 PM  

Hi! I can lick my own eyebrows: nmrsnr: And today's "number of sentences into an American Thinker article before my brain revolts:" 19. I think that's a record. But then I saw this:

"Atlas Shrugged showed where that leads."

"Unless this trend can be reversed, there is little point in talking about income inequality, at least in terms of taking more from the doers and providing it to the less well-off.  Atlas Shrugged showed where that leads."

What is that? I don't even...

Don't they realize that that piece of shiat book is farking fiction?


No. They don't.

Most of the first world has shown that you can lessen income inequality by appropriately taxing individuals and investing the tax revenue in infrastructure, education, and a robust social safety net that includes universal healthcare.

Hell, even some places in America (Utah for example) are realizing it is cheaper in the long run to house the homeless and give them a social worker than to deal with them on the streets.
 
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