Wall Street Protests

[Lamplighter]

Occupy PDX

Chapman and Lownsdale squares were reopened Thursday
to foot traffic for the first time in two and a half months.

On Friday, Occupy Portland announced that it will throw a potluck in the park at noon Sunday.

Well, what did you expect they would do !

[Undertoad]

Originally Posted by Undertoad

The gain from 2003-2007 is rather large, but if we continue this graph from 2007-2011, I assure you the drop-off will be similarly massive.

The economics reason for this is simple:

During good times, everybody gets richer, but the rich get richer at a much faster rate. During bad times, everybody gets poorer, but the rich get poorer at a much faster rate.

And so they did. The numbers are in and from 2007-2009, 1%'s take of everything fell from 22.8% to 16.9%.



source

If we were to graph this on that CBO graph I criticized, the fall would be even steeper. And if we were to examine the top 0.5% it would even be steeper again:

The most dramatic collapse has been in high incomes, as the most recent IRS data shows.

For example, since 2007 the number of millionaires has dropped 40 percent, while income reported by millionaires has dropped in half.

[Lamplighter]

UT, sorry but I'm not getting your point... at least from it being posted in this thread.

On one hand, we understand that everyone suffered in the downturn since 2007.
Is your point that the 1% suffered more than others ?

[infinite monkey]

It seems analogous to losing weight: when you have 100 pounds to lose you can start shedding pretty quickly, and still have a lot left to lose. When you only have 10 pounds to lose, it's a struggle dipping into the fat reserves.

So I don't really get it either.

*shrugs*

[Spexxvet]

Originally Posted by Lamplighter

UT, sorry but I'm not getting your point... at least from it being posted in this thread.

On one hand, we understand that everyone suffered in the downturn since 2007.
Is your point that the 1% suffered more than others ?

We should feel sorry for the unfortunate people who have lost 40% or 50% of their wealth and still have 1,000% of our wealth. Poor them. Poor, pitiful them.

[infinite monkey]

I know. I feel so horribly for them. I'd like to take up a collection to save their 6th home in the Hamptons.

Sorry, but right now I don't feel sorry for one freaking rich person on earth...

Sure, they deal with all kinds of issues that us ordinary folk deal with, except for the ones they can buy their way out of.

[Undertoad]

Originally Posted by Lamplighter

Is your point that the 1% suffered more than others ?

This is a continuation of the discussion in this thread from 3.5 months ago. My point is evident, to the critical thinkers in our presence, who apparently haven't posted yet today.

[Lamplighter]

Originally Posted by Undertoad

This is a continuation of the discussion in this thread from 3.5 months ago. My point is evident, to the critical thinkers in our presence. If there are any.

Oh come on... that's a cheap shot.

What are you trying to say ?

[Undertoad]

Just read the thread from 3.5 months ago, and live and learn. Imagine that you don't get the change the subject.

[infinite monkey]

OK, what page is that exactly?

[Spexxvet]

Lamp and Infi, I think UT just insulted us. In fact, I'm quite sure he did.

[Undertoad]

So you are able to read for comprehension when you want to.

[Lamplighter]

Originally Posted by Undertoad

Just read the thread from 3.5 months ago, and live and learn.
Imagine that you don't get the change the subject.

I can't remember threads from two weeks ago, let alone 3.5 months

So lets start from today...

For example, since 2007 the number of millionaires has dropped 40 percent,
while income reported by millionaires has dropped in half.

I take it from this quote your point is that Mitt Romney's income dropped
from $113,4000 per day to last year's level of only $56,700 per day.
That was, indeed, a terrible loss...

[infinite monkey]

Nice.

[Spexxvet]

Originally Posted by Undertoad

My point is evident, to the critical thinkers in our presence, who apparently haven't posted yet today.

Because if someone disagrees with you, they're not just incorrect, not just wrong, not even just stupid, but actually broken.