Enough Is Enough on Tax Cuts for Wealthy (by Chuck Marr)

[swag]

http://www.offthechartsblog.org/enough-is-enough-on-tax-cuts-for-wealthy/

In yesterday’s New York Times, Richard Thaler, one of the nation’s top economists, neatly refuted the arguments for borrowing tens of billions of dollars each year to keep President Bush’s tax cuts flowing to the most affluent 2 percent of people in the country. He then posed a central question: “whether we want a society in which the rich take an ever-increasing share of the pie, or prefer to return to conditions that allow all classes to anticipate an increasing standard of living.”

As I’ve noted before, over the last three decades a stunning shift in income has taken place in this country, from the middle class to those few at the very top of the income scale. Back in 1979, the middle 20 percent of Americans had more than twice as large a share of the nation’s total after-tax income as the top 1 percent. But by 2007, the top 1 percent’s slice of the economic pie had more than doubled and in fact exceeded the middle class’s slice, which had shrunk.

This great income shift means the average middle-income American family had about $9,000 less after-tax income in 2007, and an average household in the top 1 percent had $741,000 more, than they would have had if the 1979 income distribution had remained. Here’s how this looks in graph and table form:




...more at the link

[OHdem10]

1. If tax cut for the top two income groups (primarily millionnaires and

billionaires) create so many jobs, please explain:
These two groups have had all the last eight years
enjoying these tax cuts. First of all, if they
provide so many jobs, why in the "h" did we go into
a recession will millions of job losses?????
One reason may be they supplied jobs to China
India, Asia, S.America, anywhere but the US.

Remember this.

As bad as the numbers are, Obama has had more Private
Sector Jobs created in 20 months than GWB did in
all eight years. So much for the Republicans calling
ending the Bush Tax Cuts a job killer.


correct Sp.

[pansypoo53219]

2. zombie reagan

must die.