RICH HAVE IT ALL

[clarence swinney]

1945 TO 1980
EACH PERCENTILE GAINED ALMOST EVENLY IN INCOME-WEALTH
GREAT MIDDLE CLASS YEARS

WHAT HAPPENED?

1980--2008--rape of the middle class

20 years three Conservative Presidents
18 years Conservative Senate
12 years Conservative House
6 years Total Conservative Control

1945-1% owned 30% Total Financial Wealth
1980-20%
1989-36%--Reagan 60% Tax Cut For 1%

2008
1%=43%
10%=70%
20%=93%
80%=7%=120,000,000 workers sad sad redistribution

20 years=99,000 net new jobs per month
12 years= Carter + Clinton got 222,000.

What happended after 1980??

Unearned Income Tax cut to 15% from 28% workers pay -fat play
SS Payroll Tax increased big on Middle Class capped for rich
Revenue Sharing transferred off Rich Income Taxes to Middle Class property taxes.
Reagan 60% Tax Cut for top 1%
Loopholes galore for Corporations
Big cut in Estate Tax

ctj.org study-2008
Top quintile paid 30% of Total Income in Federal-=Stae-Local Taxes
Middle Quintile paid close to that number

Corporations paid an average of 16% on Top Rate of 35%
Exxon filed 2009 to pay 0 federal taxes on Billions of profits.

1980-2008 MIDDLe CLASS RAPED

top 400 Income in 2008 paid average 16% FEDERAL TAX

READ CAREFULLY-----
No Reagan + Bush tax cuts--today we enjoy a 14,500B surplus not 12,000B Debt.
750 X 24 years=18,000
1700 X 5 years=8,500

Rape Rape Rape 80% own 7% shameful disgraceful

Makes America today one of top nations with Inequality a disgrace with such Wealth.

Conservatives will not rest till they get remaining 7%.

40% in America get Food Stamps. Praise Jehovah!

Still today you hear constant chant from Larry Kudlow etc

"Eliminate Estate Tax--Eliminate unearned Tax--Cut Corporate Rate"

Rich want the remaining 7%.

olduglymeanhonest

[fascisthunter]

1. wow... well done

[maxsolomon]

2. great stats

confusing presentation

[Oregone]

3. "RAPE RAPE RAPE" is a bit Glenn Beckish, eh?

[clarence swinney]

4. ok

DURN DURN DURN DURN-- BARNEY FIFE OK?

[renko]

6. Just missing "Economic" in front of it. n/t

Otherwise, I wouldn't call it hyperbolic at all.

Reaganomics has done that much damage and inflicted that much pain.

[jotsy]

5. I know of a guy...

UMASS Economics professor, Richard Wolff; below is a clip from something I caught on LinkTV a few months ago from "Capitalism Hits The Fan". I grabbed the shortest video of several available just in case anyone not yet familiar with him wanted a look see. Hope you don't mind. He lays out a lot of how we got to where we are. I don't remember if he concluded with any bright news, or I'd surely share it now.

<http://www.youtube.com/watch?v=M8ZH1ejtIFo>

Kicked and recommended.

[Swamp Rat]

7. k&r

[WinkyDink]

8. S.S. is the most regressive tax ever. It should be FROM THE TOP DOWN, WITH THE SAME CUT-OFF.

Why are we, as a nation, so worshipful and afraid of the wealthy?

THEY SHOULD BE GLAD THERE ARE NO GUILLOTINES.