Is America a Plutonomy?

[Secretariat]

http://www.ibtimes.com/articles/20090907/citigroup-2006-americamodern-day-plutonomy.htm

Former Citigroup CFA Ajay Kapur wrote the following memo in 2006 coining the term plutonomy. It's a interesting read.

"In a "plutonomy", according to Citigroup global strategist Ajay Kapur, economic growth is powered by and largely consumed by the wealthy few."

'According to new Internal Revenue Service data announced last week, income inequality in the U.S. is at its worst since the 1920s (before the Great Depression). The top percentile of wealthy Americans earned 21.2% of all income in 2005, up from 19% in 2004, while the bottom 50% of wage earners earned 12.8% that year, down from 13.4% a year earlier."

[Tom]

Not much economic growth is fueled by anchors.
You getting paid overtime to spread the communist manefesto of the Terrorist-enabler Obama?

[Steve 'StatMan']

Don't know about Pluto, but the current government sure have been a Mickey Mouse operation.

[Greyfox]

http://www.ibtimes.com/articles/20090907/citigroup-2006-americamodern-day-plutonomy.htm

Former Citigroup CFA Ajay Kapur wrote the following memo in 2006 coining the term plutonomy. It's a interesting read.

"In a "plutonomy", according to Citigroup global strategist Ajay Kapur, economic growth is powered by and largely consumed by the wealthy few."

"

1. Ajaj Kapur brilliant as he may or may not be is now playing with money in China. Gone from citigroup and passe.
2. Plutonomy - is not yet a word in the dictionary. (Not surprisingly.)
3. Plutocracy covers the same thought.
4. Fact: There are several sources of power. Among them are:
a. Money = Power
b. Knowledge = Power (I'd choose this one between the two.)

I don't begrudge the wealthy for having power.
They shouldn't begrudge my knowledge on how to take their wealth away,
at the track anyways.

Personally, I would describe "America as a Platonomy" instead of a Plutonomy. (Let it be known Greyfox coined "Platonomy" in the annals of history.)
That would be a Philospher King running (ruining) the economy.
Plato believed in a Philosopher King running the works. He's here.
Well, guess what? Obama is a "Philosopher King"....
We'll see how the economy works or just as likely doesn't work.

[skate]

http://www.ibtimes.com/articles/20090907/citigroup-2006-americamodern-day-plutonomy.htm

Former Citigroup CFA Ajay Kapur wrote the following memo in 2006 coining the term plutonomy. It's a interesting read.

"In a "plutonomy", according to Citigroup global strategist Ajay Kapur, economic growth is powered by and largely consumed by the wealthy few."

'According to new Internal Revenue Service data announced last week, income inequality in the U.S. is at its worst since the 1920s (before the Great Depression). The top percentile of wealthy Americans earned 21.2% of all income in 2005, up from 19% in 2004, while the bottom 50% of wage earners earned 12.8% that year, down from 13.4% a year earlier."


Yah, a, and how is that NEW DEBT treating you lately, SEc? Start from scatch will ya? make it real easy ;) on me the-skate.:cool:

[ArlJim78]

as long as we're now in full-on redistributive mode, it's high time we did something about the salary and benefits of the political class (politicians, government workers, public unions), which have continued to push on ever higher despite the recession. When you're "connected" to the people who dole out other peoples money, its seems you get taken care of much better than the average working stiff.

while you guys are so easily distracted with resentment of the super rich, who in most cases got rich based on their own initiative and risk taking, you overlook the fact that these class hustlers have got their hands in the cookie jar and have padded their lifestyles at the expense of the taxpayer.

[JustRalph]

Don't know about Pluto, but the current government sure have been a Mickey Mouse operation.

Great line :lol:

[lamboguy]

what is coming around the corner once the republicans get full control of the house senate and presidency is going to be a value added tax. the republicans have always loved this tax but have never been able to get it through. this time around they are going to have more than enough votes to get it done. in europe and canada the rate is roughly 15%. i suspect that when they finally pass it, originally it will be less than 10% and then gradually make its way up to the 15%. this is a very conservetive type of taxation because it effects everyone equally. and it also taxes people that visit this country when they spend their money here. there could be some type of income tax reduction to go along with the value added tax.

[Tom]

Don't know about Pluto, but the current government sure have been a Mickey Mouse operation.OK Dude....two days in a row you killed me! :lol::ThmbUp: