Can anyone provide some credible data about these Liberal Myths?

Question

Myth #1: The rich get richer while the poor get poorer. My research of Census data shows both tend to get richer and poorer at the same time.

Myth #2: The top 1% control 90% of the nation's wealth. My research shows that to be about 34%.

Myth #3: Tax cuts don't work. My research shows they do indeed work, under Reagan, Clinton and Bush 43. Clinton you say? Yes, he cut capital gains rates to spur investment.

Myth #4: Bush caused the recession. My research shows yes, he was President during that time, but did not enact any policies or take any actions to "cause" the recession.

If you've got any credible evidence to the contrary, please post a link. And I do mean "credible." ThinkProgress, Media Matters, etc. are not credible.

Answer 1

Where is the link for your research...?



Myth #1http://www.syracuse.com/news/index.ssf/2009/09/census_finds_the_rich_are_gett.html



Myth #2http://www.marketingcharts.com/direct/wealthiest-americans-dramatically-increase-income-16296/

http://www.marketingcharts.com/direct/wealthiest-americans-dramatically-increase-income-16296/motherjones-wealth-distribution-feb-2011jpg/



Myth #3 just look around you.



Myth #4 Recession was a combination of many things, under Bush watch.





I guess I could use the same rope a dope and say when have you heard liberals state anything different than what is there. I never heard 1% controls 90%.

Answer 2

Myth #1: the magnitude of the moves is the key. The rich get richer faster than the poor get richer and vice versa. It's common sense. But in the past generation, the rich got richer and the poor got poorer in real terms.



Myth #2: "Percentage of wealth held in 2000 by the Top 10% of the adult population in various Western countries: U.S. 69.8%"; http://sociology.ucsc.edu/whorulesamerica/power/wealth.html



Myth #3: Cause and effect. Your presidents all had falling interest rates, except for a period during Clinton that corresponded with higher taxes which balanced the federal budget. Falling interest rates have a more powerful effect than tax cuts on the rich. Increasing taxes on the rich, who have the money when others don't, is always beneficial to societies like ours characterized by maldistribution of wealth.



Myth #4: A generation of misguided supply-side tax and economic policy led to total financial collapse. Bush's tax cuts for the rich and $2 trillion in military spending wasted our nation in a time when we were least able to take it.

Answer 3

Myth #1 the rich do get richer but the poor stay poor. When you have nothing it's hard to have less than nothing.



Myth #2 The top 1% control or have 40 to 45% of the nation's wealth. Your just a little off.



Myth #3 Tax cuts did work in manufaturing base economy we are no longer a manufaturing based economy and the current economy (last 12yrs hold that to be true).



Myth #4 Bush did not cause the recession but it did begin during his administration. His tax reductions did reduce the funds taken in but that is not the recession. He in fact did nothing and that is the problem, he did nothing.



As for links, I recommend your read newspapers, and watch ABC, CBS, NBC, Fox News, and CNN. The bulk get it right Fox drifts but is necessary to get balanced ideas.

Answer 4

I don't know who said the top 1% control 90% of the wealth. The only statistic that matters is that the bottom 80% only control 15% of the wealth. That's a huge problem as history will tell you.



The only thing that really matters is economic mobility. I meant that is our American Dream, isn't it? With American fiscal policy being much farther to the right than most "socialist" countries, this is all you need to know:

http://www.epi.org/economic_snapshots/entry/webfeatures_snapshots_archive_07192000/



Capitalism creates wealth for a few and pushes the rest toward poverty.

Answer 5

with Myth #4 the cause of our recession was a burst in the housing market bubble, that caused lending to be reined in which reverberated through the economy, now the reason we had a housing bubble is because banks were being strong-armed to lend money to people with less than standard credit rating (sub-prime loans), the strong-arming began in the late 90's under the Clinton administration and was spear headed by Janet Reno (the US attorney general) when she threatened investigations if banks didn't start lending money to poor people, the practice of strong-arming banks to lend to poor people was continued into the 2000's and was championed by Barney Frank (D-Mass) and Chris Dodd (D-Conn), in 2004 some Republicans started bringing up these issues in committees in both the House and Senate and every time they did the Democrats screamed "racism!", Republicans got skeerd and backed off, 4 years later the market crashed and the democrats began their finger pointing to the republicans and to President Bush saying "they did it"



pretty standard stuff on how the Democrats operate really

Answer 6

Myth 4. Bush 2 pushed through a tax cut (no change in spending and created the deficit). Pushed through funding Part D of Medicare (no way to fund it and those are ongoing costs). Started two wars (not paid for, less ongoing cost for Iraq), federalized 200,000+ airport security (not paid for and ongoing cost). Pushed through TARP (some paid back but another 800 billion or so not paid for initially). Wall St. caused the overcapacity in real estate--commercial, industrial and residential which is what starts all recessions. Wall St. fronted the money (through exotic financial instruments which they then hedged against) in a huge burst of exuberant capitalism that has almost done us in.

Answer 7

http://www.census.gov/prod/2004pubs/p60-226.pdf for the first two, look at the jump in poverty from the 1980s and the stagnant income of the bottom 20%.



Theeffects of tax changes are contested and context dependent. It depends whattax is bein changed in what economic situation.



The fourth is also contested, buti would say the fact that he failed to regulate the banks and allowed them to take the risks they did, includingthe subprime lending but also lending more than what they had in assets makes him at least partly responsible at the very least

Answer 8

Ronald "the place are we Nancy" Reagan, became the commencing up of the tip of the GOP. Senility worked out so nicely for them, that ever considering that, they have run in trouble-free terms mentally challenged applicants. "furnish factor Economics" wwas no longer something greater desirable than a various rendition of "Them it is have been given, Shall Get". His collaboration with Iran with the hostage became classic. And he became the 1st of the Repo nut jobs. no longer a lot of a form.

Answer 9

Conservative myth #1: Welfare States don't work.



The truth is they can work. Norway, Sweden, and Denmark among many others have lower unemployment and better social mobility.

Answer 10

Myth #1 has actually been proven under Obama. Net worth of the rich has increased while that of the poor has decreased.



Your research for #2 is dubious. Corporations are owned mostly by IRAs, 401(k)s, annuities and pensions. That means the rich in reality likely own much less than 34%.



Myth #3: tax cuts work when they're permenant (or good for 10 years). They do NOT work when temporary or unreliable.



Myth #4: Bush tried 17 times to reform the situation that caused the recession. Two of those times he had bi-partisan Congressional support. He was blocked by democrats.

Answer 11

Myth 2: I heard it was 5% control 34%....which is still too much btw.

Answer 12

"Are you an idiot? How about you do your own research."



He did, thats why he's calling you liars out.



How about the myth about how rich ppl's money is hoarded in some mysterious location that prevents it from being spent so we need to have the government spend money. That one cracks me up. Its as if they think banks put the money in a big room then it multiplies magically so they can pay you interest.





"(no change in spending and created the deficit)"



There was a 6T debt when Bush took office. Even Clinton ran a deficit in every 7 of 8 years and added one Trillion dollars to the national debt. Bush 2 sucked with money, but certainly didnt "create" the deficit.



http://www.skymachines.com/US-National-Debt-Per-Capita-Percent-of-GDP-and-by-Presidental-Term.htm











"Myth #2http://www.marketingcharts.com/direct/we…"



From your own link genius:



"wealth, with the richest 1% accounting for almost 35%."

Answer 13

Liberals have to create myths to take place of facts. Apparently they aren't too hip on facts.

Answer 14

Liberals love others paying for their own ****.

Answer 15

they all are correct . you pretent there not when the facts are that there true.history has proving them to be true.

Answer 16

Are you an idiot? How about you do your own research.