Staggering
February 11, 2010 at 2:14 PM 1 comment
The Council of Economic Advisers is out with a report today that highlights the huge advantages the rich have in our society. Think Progress summarizes it. This sentence in their post says it all about income: “The top 1 percent of families now receive nearly 25 percent of income, up from less than 10 percent in the 1970s.” And this sentence says it all about taxes: “In the 2010 fiscal year, the Bush tax cuts will actually give millionaires more in tax breaks than 90 percent of Americans will earn in income.”
Is it any wonder we’re pissed?
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crisismaven | February 12, 2010 at 12:16 PM
Yes that is so, but on the other hand inequality on a world wide scale has actually declined, q.v. Roslings presentations and other visualisations on my huge reference list of economic of over 400 data sources.