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View Diary: Bloomberg: 'Social Security Greatest Transfer of Wealth in History" (37 comments)

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  •  It's not "wealth" period (5+ / 0-)

    the sums extracted from each paycheck are meager amounts of money.  I'd love to trade "wealth" with Bloomberg if he thinks it is such.

    •  Its not wealth even more period ... (2+ / 0-)
      Recommended by:
      eXtina, NYFM

      ... its income. The wealth comes from the share of the economic growth made possible, in part, by the economic stability that it helps to provide ...

      ... and the split of that economic growth between wage earners and profit recipients.

      Over the past forty years, the share has tilted to profit recipients, and over the past decade, most wage earners haven't got diddly from the growth, with it all going to profit recipients.

      I'm not 100% sure whether Bloomberg is deliberately lying or whether he himself does not understand the difference between income and wealth.

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      by BruceMcF on Wed Nov 09, 2011 at 03:26:39 PM PST

      [ Parent ]

      •  there were a lot of other lies and distortions in (1+ / 0-)
        Recommended by:
        BruceMcF

        there so I'm sure it's deliberate. One of the richest men in the world must know the difference.

        "I'm sculpting now. Landscapes mostly." ~ Yogi Bear

        by eXtina on Wed Nov 09, 2011 at 04:46:29 PM PST

        [ Parent ]

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