George W. Bush and the Ascension of the Hyper-Rich. ⇒
10 June 2005, lunch time
"From 1990 to 2002, for every extra dollar earned by those in the bottom 90 percent, each taxpayer at the top brought in an extra $18,000." This link was found via Sencer.
This is a post from my link log: If you click the title of this post you will be taken the web page I am discussing.
From 1990 to 2002, George W Bush was only president for one year.
by Sunny on June 10 2005, 7:41 pm #
That quote is from a section of the post that talks about the lack of upward mobility in America. Here is a quote about Bush and Taxes:
“President Bush said during the third election debate last October that most of the tax cuts went to low- and middle-income Americans. In fact, most – 53 percent – will go to people with incomes in the top 10 percent over the first 15 years of the cuts, which began in 2001 and would have to be reauthorized in 2010. And more than 15 percent will go just to the top 0.1 percent, those 145,000 taxpayers.”
by ramanan on June 10 2005, 7:57 pm #
Upward mobility is a pipedream.
Its only natural that folks who pay a higher proportion of taxes get a higher proportion of tax breaks. How much taxes do the bottom 90% pay? But from the stats in the article it seems, it is heavily tilted to one side (note to self: will investigate). Obviously, the current admin are not big on wealth redistribution.
Sorry again for misinterpreting your post.
by Sunny on June 10 2005, 9:50 pm #