Americans Vastly Underestimate Wealth Inequality and Support 'More Equal Distribution Of Wealth

First Posted: 09-23-10 02:23 PM | Updated: 09-23-10 04:13 PM

Americans vastly underestimate the degree of wealth inequality in America. According to a new study most believe that the distribution should be far more equitable than it actually is, .

Or, as the study's authors put it: "All demographic groups -- even those not usually associated with wealth redistribution such as Republicans and the wealthy -- desired a more equal distribution of wealth than the status quo."

The report (pdf) "Building a Better America -- One Wealth Quintile At A Time" by Dan Ariely of Duke University and Michael I. Norton of Harvard Business School (hat tip to Paul Kedrosky), shows that across ideological, economic and gender groups, Americans thought the richest 20 percent of our society controlled about 59 percent of the wealth. In the US the real number was closer to 84 percent.

More interesting than that, the report says, is that the respondents (a randomly selected 5,522-person sample, reflecting the country's ideological, economic and gender demographics, surveyed in December 2005) believed the top 20 percent should own only 32 percent of the wealth.

Respondents with incomes of more than $100,000 per year had similar answers to those making less then $50,000.

The respondents were presented with unlabelled pie charts representing the wealth distributions of the U.S., where the richest 20 percent controlled about 84 percent of wealth, and Sweden, where the top 20 percent only controlled 36 percent of wealth.

Without knowing which country they were picking, 92 percent of respondents said they'd rather live in a country with Sweden's wealth distribution.

As the new Forbes billionaires list, released Wednesday, testifies, the richest Americans are getting richer, even as the country as a whole gets poorer. After 2005 income inequality continued to balloon.

The only way the US government can control the distribution of welath is with the Estate Tax. Of course, George W. Bush suspended this tax while he was presdient. The Estate tax primarily affects the top 5,000 American families.

Read the complete study that follows:


norton ariely in press -

source: http://www.huffingtonpost.com/2010/09/23/americans-support-wealth-redistribution_n_736132.html

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How to make trickle down work

Democrats will have the opportunity to make trickle down or Supply side economics work in December when the Bush tax cuts expire in December 2010.

Once these regressive tax cuts expire, The Estate tax will be restored and the tax tables will be revised upward for any families making more than $250,000 a year.

If an affluent American like a billionaire or millionaire is liquidated, his or her estate will be subject to the Estate Tax. After the federal government starts to collect these taxes, it will be better able to balance the federal budget and reduce the deficit and national debt.

The federal government, for the most part, is required to spend all of its tax revenues before the end of the fiscal year which is September 30.

This will spread the wealth around and help teachers, fire fighters and police to keep their jobs. It will also help rebuild the American infrastructure.

Democrats, anarchists, militia members and other radicals can make America stronger by liquidating a millionaire or billionaire. These people are the real enemies of the American way.

Of course, if you are caught by the police, the penalty can be severe. Take care when you perform your patriotic duty.

Read the blog description before you take any action you might later regret.

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Billionaires for Wealthcare Pop Quiz: Test that Ivy League education

Posted on | November 30, 2009 

While we may be super-rich, our assets have been tied down with lobbyists these days, and so our friends at CREDO have jumped in to help the  Billionaires for Wealthcare out.

Their site OMGGOPWTF.com lets you quiz your friends on the GOP’s insanity, and help a good cause – in this case, us, the Billionaires! Every time you answer a question correctly, we get 10 cents. There are five questions, so that means that if we get 1000 people to take the quiz and you score okay… we get $500 dollars.

Just go to OMGGOPWTF.com, take the quiz, and CREDO will put $$$ in our Billionaire piggybank. It’s that easy!

Forward the Status Quo!

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Billionaires and teabaggers rally to support ‘wealthcare, not healthcare!’

Posted on | November 22, 2009 

Billionaires in our nation’s capital briefly came down from their hilltop mansions in their shiny white limos to remind Senate members who really pay their bills. Our reform fighting senators Bob Corker (R- TN) and Chuck Grassley (R-IA) were particularly happy to see us. Our buddy Corker even thanked us for our unbidden support! Chuck Grassley was less enthusiastic. See the video that follows:

Along the way our Billionaire heroes came across a relatively disappointing Teabagger showing just outside capital. Billionaire Koch, next time send more buses!

Those teabaggers who were brave enough to fight off the delightful weather were nonetheless spirited in their opposition to universal healthcare and any bill that might encumber our god-given rights to exorbitant profits (at their expense)! The Teabaggers were committed to protecting the profits of wealthy insurance executives like us everywhere. We hop!



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Billionaires for Wealthcare go Hollywood

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The Billionaires for WealthCare defend Cigna: Profits before People

Since CIGNA wouldn't defend itself, the Billionaires for WealthCare had to help them out.



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Billionaires 4 WealthCare visit the Tea Party Express Kick-off in San Diego!

This is quite funny. At first the Tea Partiers didn't realize they were being satirised. Then things started to turn ugly. Billionaires for Wealthcare joined the kickoff for the Tea Party Express II in San Diego.

The group, which consisted of individuals made incredibly rich on US health care industry profits, made dozens of new friends among the throngs of tea party attendees and even earned a shout-out from one of the event’s organizers.

The Daily Kos had another report on the action which was written in La Gitane's diary. 

We mingled; there were surprisingly many nice folks, who enjoyed our performance and were laughing along with us and taking pictures. However, there were MANY more vitriolic tea baggers, some of whom were violent and, of course, racist. 

We were interviewed by the SD Union Tribune, and Channel 8. Three of our Billionaires, including The Commodore, sang a song that the Commodore wrote. Channel 8 filmed the whole song! I'm telling you, we got great exposure! 
We also had three videographers, and I will be posting pics, footage and the lyrics to the Commodore's song as soon as it's available. 

A pattern I'm seeing is that in the beginning, the Repubs don't really understand and don't know what to think. But, as they catch on, they become more violent, and really in your face. 

By the time our limo came to pick us up and Todd, our faithful driver, laid out the red carpet once again, things were getting pretty bad. Many people wanted to know who is behind all of this??? Who's paying us?? 

One very "bright" woman was angry because the Tea Baggers "barely had the money to put this together" while we are funded by someone (Soros?) and she DEMANDED to know who!! 

She screamed that we were "fucking hypocrites". And I mean SCREAMED. Their grass-roots effort is pretty impressive - although they "barely had the money to put this together", they managed to have two buses fully wrapped in Tea Party regalia and plenty of vehicles, all marked with Tea Party Express signage. 

Cops were pretty thin, surprisingly, since any lefty rally I've ever been to seems to bring them all out in full riot gear. I guess the tea baggers aren't a threat to public safety...? Anyhoo, much thanks to all the San Diego Billionaires for making such a beautiful performance. It really is a fun bunch! 



source: http://www.dailykos.com/story/2009/10/26/797254/-Billionaires-4-WC-hits-again!-Tea-Party-Express-Kick-off-in-SD

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Using the arts against the right wing

The Democrats are starting to use the arts effectively against the Republican noise machine.

Groups like Billionaires for WelathCare, Improv Everywhere, the Yes Men and others have been making national political statements with small groups.

The Republicans are well aware that the arts community does not support conservative values. The Republicans made a huge stink about a small $50 million grant to the National Endowment to the Arts and is also opposed to public media like National Public Radio.

A lot of Democratic blogs are operated by artists. Rightardia uses a lot of art from LtSaloon. AllHatsNoCattle, FreakingNews, LeftWing Conspiracy, Urantian Sojourn, Mario Piperni, the Project for the Old American Century and many others.

We have noticed a huge increase in satire of conservative buffoons like Dick Cheney, Rush Limbaugh, Glen Beck, Michelle Bachman and Sarah Palin. Progressive need to continue to attack bad conservative ideas like private healthcare, never ending war, and Supply Side economics that reward the most fortunate Americans.  

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Billionaires for Wealthcare Music Video

billionWherever there are CEO’s and Presidents, the Billionaires aren’t far behind. They’ve been spotted at Anthem/Blue Cross headquarters and at Union Square, greeting Obama. This group of billionaires is from San Francisco.



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Billionaires For Wealthcare are “Sick of It”!

October 10, 2009

On September 22, 2009, Billionaires rallied against reform at United Healthcare Headquarters. Chaos ensued when our heroes ended up in a pitched battle with MoveOn and other pro-reform advocates on the streets of New York City.

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Billionaires for Wealthcare Protest Anti-Billionaire Agenda of Michael Moore

Posted on | September 29, 2009

 

PRESS RELEASE for
TUESDAY, 9/29/09

CONTACT: Alex Lawson, 202/997-7002
alex.lawson@gmail.com

Billionaires for Wealthcare, the satirical street theater group composed of “Health Insurance CEOs, HMO lobbyists, and others profiting from our broken health care system,” protested today at the DC premiere of Michael Moore’s new film, “Capitalism: A Love Story.”

The group objects to the unfair depiction of the relentless pursuits of profit over the needs of people as a bad thing. “Mr. Moore obviously has an agenda with this film. He clearly doesn’t want us to continue making oodles of profits by denying and delaying care to those who need it most. That is just unfair to the smallest, most vulnerable minority in America: billionaires,” said health insurance CEO Monet Oliver de Place.

William “Billy” O’Naire said, “For the last decade, heath care costs have been moving in the right direction: up. With no competition, we raise rates as often and as high as we like simply because, well, we can. To further maximize our gains we have a star chamber of insurance bureaucrats, backed by legions of anonymous temps, who adhere to strict cost-to-profit ratios when denying claims.

But please don’t call them Death Panels; we prefer ‘Judge, Jury & Executioner.’”

Billionaires in tuxedos and evening gowns protested Michael Moore and his anti-billionaire agenda by singing patriotic paeans to Capitalism (”Battle Hymn of the Insurance Companies”), and pop Champagne while holding placards that read “Let Them Eat Advil”, “Our Death Panels Turn a Profit” and “Fight Socialism: Abolish Medicare Now!”

Billionaires for Wealthcare is a grassroots network of health insurance CEOs, industry lobbyists, talk-show hosts, and others profiting off of our broken health care system. We are not a political, religious or even particularly well-organized group. We’re simple folk, thrilled profiteers pouring out of our corner offices to dance on the grave of “Change.”

We’ll do whatever it takes to ensure another decade where America’s pain is our gain. After all, when it comes to healthcare, if we ain’t broke, why fix it?

For more information, please visit http://www.BillionairesForWealthcare.com.


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Billionaires for Wealthcare release new Gated-Community Chest Monopoly Cards

September 27, 2009

The Monopoly Man is a legend among tycoons. He’s a beloved figure: be it as Lord of his Park Place Penthouse; dashing and debonaire stepping out to catch a Broadway show; or as Absentee Slum Lord threatening to break legs over rent on Baltic Avenue. No matter your standing, you know not to come between him and his profits.

That’s why he’s agreed to join the Billionaires For Wealthcare in their fight against reform. Because when it comes to the Healthcare status quo, Monopoly is the name of the game! And for us he’s throwing his top hat into the ring with our very own custom Billionaires For Wealthcare – Hands Off Our Profits! Gated-Community Chest cards.  Meant to remind friend and foe alike just how much is at stake for the very few seeking to profit off of the many, should Healthcare Reform succeed. Collect them all today!

source: Billionaires for Wealthcare

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“BILLIONAIRES FOR WEALTHCARE” COMMEND MICHELE BACHMANN

Friday, September 25th (Minneapolis, MN)


Billionaires for Wealthcare, the satirical street theater group composed of “Health Insurance CEOs, HMO lobbyists, and others profiting off of our broken healthcare system,” made a special appearance at Michele Bachmann’s Town Hall Meeting this Friday, September 25 to “thank” her for protecting insurance industry profits.

Billionaires met with Bachmann at Northrup Auditorium, on the University of Minnesota campus, at 5:30pm, in advance of her Town Hall Meeting.

Dressed in tuxedos and mink stoles, the Billionaires for Wealthcare commended Bachmann for her ferocious opposition to President Obama’s ‘public option.’
“Medicare is 10 times more efficient than private insurance,” said Frida Market.

“They don’t have to do any marketing, only 3% of their costs are paperwork, and they don’t pay out huge CEO salaries. The public option will just be more of the same. Where is the profit in that?”

Other Billionaires addressed the issue of rising health care costs. “Michelle Bachmann is a loyal friend,” said Z. Roe Compassion. “But for every congressperson like her, I’ve got six lobbyists on my payroll. And they don’t come cheap!

Especially when all SEVEN of them have their hands out! We’re spending $1.4 million a DAY rigging the game and now you want to change the rules?”

PHOTO OPs will abound as Billionaires in tuxedos and evening gowns entertain the crowds, sing patriotic songs (”Battle Hymn of the Insurance Companies”), and pop champagne while holding placards that read “Let Them Eat Advil”, “Our Death Panels Turn a Profit” and “Fight Socialism: Abolish Medicare Now!”

For more information, please visit http://www.BillionairesForWealthcare.com

PRIMARY CONTACT: Peter Cooper 512-924-7561 cooper.peter.m@gmail.com
ON THE GROUND CONTACT: Glynda Ballinger 612-220-3564

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Billionaires for Wealthcare make a splash and Billionaires crash reform rallies nationwide

September 23, 2009

The campaign for wealthcare is going nationwide! Billionaires across the country – from New York to California and dozens of places in between – stood up for their rights as profiteers and confronted a coalition of pro-reform groups in the streets.

Billionaires in New York and San Fransisco blockaded delegations from the reformers, putting their well-dressed bodies on the line in “UnitedWealth” and “BlueBlood/BlueShields” actions. (See pictures from the NY action here, and pictures from SF here – San Fransisco billionaires also got some attention from Jezebel)

Blue Bloods from Middle America got in on the action too – Lawrence, Kansas Billionaires staged an action (pics here), along with our Minneapolis chapter.

More to come as the presses roll – and the kickbacks go out!

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Billionaires for Wealthcare get rowdy in Phoenix

When the Phoenix Billionaires found out that local AFP organizer, Tom Jenney, was going to Scottsdale again to rally the teapartiers, we decided that his good deeds could no longer go un-rewarded.

Ol’ Tommy played a little hard-to-get at first, but he relunctantly did accept our check made out to “Americans For the Prosperity of Koch Industries“. We can understand his shyness, because before this we’ve been avoiding the public light as to our financing of the front groups. We’re wealthy and proud and we’re not going to take it anymore!



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Billionaires thank teabaggers for their support

Posted on | September 12, 2009

It was a lovely day in DC as the Billionaires for Wealthcare gathered to survey our investments. After a few of our beautiful heiresses took proper tea at the Ladies Tea Party held by Americans for Prosperity, our gilded heroes headed off to greet the marchers with signs, chants and songs.

We set up our post on an elevated curb along Pennsylvania Avenue, proudly surveying the throngs we’d funded. The crowds mainly greeted us with cheers for the status quo. A few seemed confused; they were clearly in awe to be face-to-face with those who profit from their most manipulated fears.

As they passed we waved them on and serenaded them with our songs.

From our perch, your trusty billionaires thanked our hardworking teabaggers, rallying the crowd with rousing chants like “Money is freedom!”, “Freedom Works – FOR US!, “You Protest – We Profit!” and the big crowd favorite, “Bring Back Bush!!!”

From there we decamped and headed into the crowds toward the Capitol to mingle with those working so hard to ensure our right to raise rates and deny claims.

The crowd embraced us with their exuberant chants and signs. Ayn Rand was a favorite theme, of which we naturally approved, but some were a bit unique. Regardless, we’re proud of the teabaggers, and thrilled that they came out like good soldiers. After all, nothing says freedom like denying claims. And besides, OUR death panels turn a profit.

To close we popped some champagne, toasted our teabaggers and took our leave of the march.

Back in the limo, we enjoyed the last of our caviar and, as a final touch, sent a huge flower arrangement to the luxury suite of our most loyal foot soldier, Glenn Beck, and headed home.

Until the next rally, we remain yours in obscene wealth and the status quo – Billionaires For Wealthcare.

 

source: http://www.billionairesforwealthcare.com/

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