QUOTE OF THE DAY

"We the people are the rightful masters of both Congress and the courts, not to overthrow the Constitution but to overthrow the men who pervert the Constitution."
Abraham Lincoln

WARNING! COMMON SENSE REQUIRED TO UNDERSTAND CONTENT

WARNING! Read at your own risk. This blog has not been approved by the Politically Correct Thought Police.


HOWDY FOLKS! (ya like that down home hello do ya?)

Welcome to the home of the
"NEW AMERICAN COMMON SENSE PARTY".
(hereinafter referred to as NACSP)

Yep, that's right people, it's time to take America back. Enough is enough. It's time we quit electing the same crooks and scumballs over and over again. Quit pulling the all Democrat or all Republican lever because your daddy was a Rep. or a Dem. God gave you a brain, (oh my goodness, your blogger believes in the Creator, he must be an idiot) use it to study the issues and the candidates before you go to the polls. Before you vote for an incumbent, look at his voting record and see how much of YOUR, YOUR KIDS,
GRANDKIDS and GREATGRANDKIDS hard earned tax $ he voted to waste on porkbarrel projects. With the deficit running in the trillions, congress still doesn't seem to get the message. Of course not, they don't care about America, they only care about getting reelected. We have built a house of cards based on greed, and it's going to come tumbling down if we don't fix it SOON.


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Tuesday, May 3, 2011

RICH RICHER / POOR POORER AGAIN

According to Edward Wolff, economist, the median household WEALTH in the U.S. had dropped 36.1% since the high point of the housing bubble in 2007. The wealth of the top 1% households dropped only by  11.1%.
In terms of wealth distribution, as of 2007 the top 1% households owned 34.6% of all private wealth, with the next 19% having 50.5%. Thus the top 20% in terms of wealth owned about 85% of the wealth, leaving 15% for the bottom 80%. In terms of total net worth minus a households' home value, the top 1% had a 42.7% share.
What's the direction of travel? 1983 through 2004, wealth became more and more concentrated. The American Economy grew enormously during this period. 42% of the new financial wealth created went to the top 1%. 94% went to the top 20%, leaving some 6% to be shared out amongst the remaining 80% of us.

Which group do you think our Senators and Representatives fall into? Now don't get me wrong, I'm am not for government mandated "income redistribution". That is Obama's socialism. What I am in favor of is we the people fixing this. As I wrote before, we have the power to fix this just like we have the power to fix Congress. It's time for IRA and 401K holders to start shouting to boards of trustees about executive compensation etc. Since greed seems to be the motivator for everything in this country today, if you need motivation to get you screaming, think about this: all those millions going to executive bonuses should be going to your dividends.

Dumb Farmer
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