If you are one of the top five percent--$200,000/yr income, from whatever source--things have seldom looked better. For the rest of us, though, according to Paul ("The Shrill One") Krugman, ummmm, not so much:
"Although wages have stagnated since Bush took office, corporate profits have doubled. The gap between the nation's CEOs and average workers is now ten times greater than it was a generation ago. And while Bush's tax cuts shaved only a few hundred dollars off the tax bills of most Americans, they saved the richest one percent more than $44,000 on average. In fact, once all of Bush's tax cuts take effect, it is estimated that those with incomes of more than $200,000 a year -- the richest five percent of the population -- will pocket almost half of the money. Those who make less than $75,000
a year -- eighty percent of America -- will receive barely a quarter of the cuts. In the Bush era, economic inequality is on the rise."
The rest of the piece is compelling and well worth your reading, and you should check it out, by clicking on the link in the title-line of this post. (I picked this link up from Atrios, btw...)
No comments:
Post a Comment