Monday, October 17, 2011

It's not enough...

...for some Republicans to cut taxes on the rich; now they want to raise taxes on the poor. Have you heard about this? Even my brother mentioned to me yesterday, "Everybody should pay something." It's a seductive argument, until you consider these statistics from Nicholas Kristoff's column in yesterday's Times (my emphasis):

According to the C.I.A.’s own ranking of countries by income inequality, the United States is more unequal a society than either Tunisia or Egypt.

Three factoids underscore that inequality:

* The 400 wealthiest Americans have a greater combined net worth than the bottom 150 million Americans.

* The top 1 percent of Americans possess more wealth than the entire bottom 90 percent.

* In the Bush expansion from 2002 to 2007, 65 percent of economic gains went to the richest 1 percent.

Right. Time to tax the poor.

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