Who are the 74 kings who rule the USA?
2 views
Skip to first unread message
Dick McManus
Aug 19, 2011, 11:51:32 PM8/19/11
to Veterans and Military Families Caucus
Who are the 74 kings who rule the USA?
The highest bracket for annual income is $50 million or more. Only 74
Americans are in this elite group. The average income within this
category was $91.2 million in 2008. As astonishing as that is, in 2009
they averaged $518.8 million each, or about $10 million per week. This
means, in the depths of the recession, the richest 74 Americans
increased their income by more than five times within this one year.
These 74 people made more money than 19 million workers combined.
The top economic 1 percent of the US population now has a record 40
pecent of all wealth, and have more wealth than 90 percent of the
population combined.
Folks in the top 0.1% come from many backgrounds but it’s infrequent
to meet one whose wealth wasn’t acquired through direct or indirect
participation in the financial and banking industries…. Most of the
serious economic damage the US is struggling with today was done by
the top 0.1% and they benefited greatly from it…. For example, in Q1
of 2011, America’s top corporations reported 31% profit growth and a
31% reduction in taxes, the latter due to profit outsourcing to low
tax rate countries….
Looking at the tax rate from a long-term perspective, the amount of
money the richest people and most profitable corporations pay in taxes
has fallen dramatically since 1955. Corporate tax accounted for 27.3
percent of federal revenue in 1955. In 2010, corporate tax accounted
for only 8.9 percent of federal revenue. Corporate taxes accounted for
4.3 percent of overall GDP in 1955, in 2010 they accounted for only
1.3 percent.
This analysis was done by William Domhoff, sociology professor and
author of Who Rules America?:
A Christian Plot for Domination?
Michele Bachmann and Rick Perry aren't just devout—both have deep ties
to a fringe fundamentalist movement known as Dominionism, which says
Christians should rule the world.
http://www.thedailybeast.com/articles/2011/08/14/dominionism-michele-bachmann-and-rick-perry-s-dangerous-religious-bond.html
The highest bracket for annual income is $50 million or more. Only 74
Americans are in this elite group. The average income within this
category was $91.2 million in 2008. As astonishing as that is, in 2009
they averaged $518.8 million each, or about $10 million per week. This
means, in the depths of the recession, the richest 74 Americans
increased their income by more than five times within this one year.
These 74 people made more money than 19 million workers combined.
The top economic 1 percent of the US population now has a record 40
pecent of all wealth, and have more wealth than 90 percent of the
population combined.
Folks in the top 0.1% come from many backgrounds but it’s infrequent
to meet one whose wealth wasn’t acquired through direct or indirect
participation in the financial and banking industries…. Most of the
serious economic damage the US is struggling with today was done by
the top 0.1% and they benefited greatly from it…. For example, in Q1
of 2011, America’s top corporations reported 31% profit growth and a
31% reduction in taxes, the latter due to profit outsourcing to low
tax rate countries….
Looking at the tax rate from a long-term perspective, the amount of
money the richest people and most profitable corporations pay in taxes
has fallen dramatically since 1955. Corporate tax accounted for 27.3
percent of federal revenue in 1955. In 2010, corporate tax accounted
for only 8.9 percent of federal revenue. Corporate taxes accounted for
4.3 percent of overall GDP in 1955, in 2010 they accounted for only
1.3 percent.
This analysis was done by William Domhoff, sociology professor and
author of Who Rules America?:
A Christian Plot for Domination?
Michele Bachmann and Rick Perry aren't just devout—both have deep ties
to a fringe fundamentalist movement known as Dominionism, which says
Christians should rule the world.
http://www.thedailybeast.com/articles/2011/08/14/dominionism-michele-bachmann-and-rick-perry-s-dangerous-religious-bond.html
Reply all
Reply to author
Forward
0 new messages