Hope when the dust settles, you still have a job. Obama, Biden and the Democrats want to turn us to Socialism. You'll be far worse off. Too bad you are going to be sucked in with the rest of us. The Dumocrats are the party of spending. They will destroy this country for you, your kids, and future generations. You'll be supporting them all. What's this diatribe got to do with BAC?
Sentiment: Strong Buy
"Plain talkin Joe", a true man of the people. When you need to get the job done in the senate, the coach sends in VP Joe, the guy who knows how to get things done, and that's that.. Thank goodness for a great American like Biden..
Ya, they will be fixing free trade and job offshoring. The dollar will soon be devalued and will cost $10 for a gallon of milk. Your pay will not go up making your pay value less than anyone else in the third world countries, however, jobs will come to this country because our pay will equate to less than that in China.
Sentiment: Strong Buy
You are one of the blooming idiots who can be conditioned to believe anything you're told.
You would have been one of the millions of Germans during WW11 who believed anything Hitler said.
IF YOU TAX EVERY RICH PERSON IN AMERICA AT 100% IT WOULD CUT THE DEFICIT BY .050%.
Keep on listening to the politician liars who will say anything to be re-elected.
WASHINGTON — Income inequality has soared to the highest levels since the Great Depression, and the recession has done little to reverse the trend, with the top 1 percent of earners taking 93 percent of the income gains in the first full year of the recovery.
“Growth becomes more fragile” in countries with high levels of inequality like the United States, said Jonathan D. Ostry of the International Monetary Fund, whose research suggests that the widening disparity since the 1980s might shorten the nation’s economic expansions by as much as a third.
Reducing inequality and bolstering growth, in the long run, might be “two sides of the same coin,” research published last year by the I.M.F. concluded.
Since the 1980s, rich households in the United States have earned a larger and larger share of overall income. The 1 percent earns about one-sixth of all income and the top 10 percent about half, according to statistics compiled by the respected economists Emmanuel Saez of the University of California, Berkeley and Thomas Piketty of the Paris School of Economics.
For years, economists have thought of such inequality in part as a side effect of policies that fostered the country’s economic dynamism — its tax preferences for investment income, for instance. And organizations like the World Bank and the I.M.F., which is based in Washington, have generally not tackled inequality in the world head on.
But economists’ thinking has changed sharply in recent years. The Organization for Economic Cooperation and Development this year warned about the “negative consequences” of the country’s high levels of pay inequality, and suggested an aggressive series of changes to tax and spending programs to tackle it.
The I.M.F. has cautioned the United States, too. “Some dismiss inequality and focus instead on overall growth — arguing, in effect, that a rising tide lifts all boats,” a commentary by fund economists said. “When a handful of yachts become ocean liners while the rest remain lowly canoes, something is seriously amiss.”
The concentration of income in the hands of the rich might not just mean a more unequal society, economists believe. It might mean less stable economic expansions and sluggish growth.
That is the conclusion drawn by two economists at the fund, Mr. Ostry and Andrew G. Berg. They found that in rich countries and poor, inequality strongly correlated with shorter spells of economic expansion and thus less growth over time.