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Re: King Donald




On 2017-02-20 14:49, Wolf K. wrote:
On 2017-02-20 13:10, Sailfish wrote:
[...]
Using the chart from above, from people making $100K and more, that
[...]

They, too, are "little people".

$100K isn't that much these days. The median US family/household income is around $55K.

More explicitly: 99% of us are "little people". We pay the bulk of the taxes. Even those who pay no income tax (the bottom 20% or so) pay taxes. Sales taxes from one POV is the fairest, because everyone pays it. From another POV it's the most unfair, because as a proportion of income it's highest for the poorest.

Traditionally, the charts show quintiles of population, which IMO has become increasingly misleading. Post-war until sometime in the 1970s, population quintiles weren't too much out of sync with income quintiles. (The ratio of top to bottom quintile aggregate income was about 4 to 1 IIRC). That began to change in the 1970s, accelerated under Reagan's "trickle down" economics, and has become extreme since 2008. The bulk of the economic recovery since 2008 went to the top 1%, and most of that went to the top 0.1%.

Have a good day,

PS: Bailing out the banks instead of the debtors was IMO a serious error. Covering the unpaid debt of the people who incurred it would have been a major economic boost, more because of the psychology of feeling economically safe than from the actual money.

--
Wolf K.
https://kirkwood40.blogspot.com
It's called "opinion" because it's not knowledge.
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