Hate to burst your little bubble of denial again.<quoted text>Misconception of the 1% by Repubs of exactly how rich the top few are:
1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation’s Wealth.
2. The Top 1 Percent Of Americans Take Home 24 Percent Of National Income.
3. The Top 1 Percent Of Americans Own Half Of The Country’s Stocks, Bonds, And Mutual Funds.
4. The Top 1 Percent Of Americans Have Only 5 Percent Of The Nation’s Personal Debt:
5. The Top 1 Percent Are Taking In More Of The Nation’s Income Than At Any Other Time Since The 1920s:
6. The absolute top 1%. The richest 400 people in America have more wealth than the first 150 million Americans COMBINED.
7. The top 400 have a combined wealth of $1.7 Trillion.
8. The top 400 pay an average income tax of 15%.
9. 6 of the top 400 richest in the US paid ZERO income tax in 2011.
Income groups in America are not fixed. There's no caste system here, really no such thing even as a middle "class." The poor aren't stuck in poverty. And the rich don't enjoy lifetime membership in an exclusive club.
A 2007 Treasury Department study bears this out. Nearly 58% of U.S. households in the lowest-income quintile in 1996 moved to a higher level by 2005. The reverse also held true. Of those households that were in the top 1% in income in 1996, more than 57% dropped to a lower-income group by 2005.
Every day in America, the poor join the ranks of the rich, and the rich fall out of comfort.
It's about hard work and seizing opportunities.
But the opportunities have to be available. Obama wants the 1%(a ghost percentage) to take care of everybody.
The 1% can just as easily pack up and call it quits if pushed too far. Ever think of that?
There goes Homer's and your version of a better off middle class.