By Craig Cheslog, on July 15th, 2011%
Dee Dee Myers has an important article in Politico describing the class warfare currently being waged against the middle and lower income classes.
It’s indisputable that the gap between the rich and everyone else in this country has grown dramatically. The top 1 percent of Americans now take home nearly a quarter of all income and control more than 40 percent of the country’s wealth — roughly the same amount as the bottom 90 percent.
It’s also indisputable that that gap has gotten far bigger in the past 25 years. In the past decade alone, the wealthiest percentile has seen its income grow by a robust 17 percent, while the middle class has seen its real income fall.
Myers goes on to describe a tax system that now skews . . . → Read More: What Class Warfare Really Looks Like
By Craig Cheslog, on June 26th, 2011%
Robert Reich has a great column in today's San Francisco Chronicle. As he writes about the Republican Party's battle against public employee unions across the country:
This war on workers' rights is an assault on the middle class, and it is undermining the American economy.
The American economy can't get out of neutral until American workers have more money in their pockets to buy what they produce. And unions are the best way to give them the bargaining power to get better pay.
Worried about income inequality? You should be worried about . . . → Read More: Workers Rights and the Middle Class
By Craig Cheslog, on April 20th, 2011%
For how long are we going to continue to ignore this while cutting back the safety net, gutting education, and threatening cuts to Social Security and Medicare? The Associated Press' Stephen Ohlemacher reports:
The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.
As Robert Reich notes, this is while the tax burden on average workers has grown.
Yet even as their share of the nation's total income has withered, the tax burden on average workers has grown. They're shelling out a far bigger chunk of incomes in payroll . . . → Read More: Super Rich See Federal Taxes Drop Dramatically
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