Sunday, August 8, 2010

Glory Days...

If you ask when were the "glory days" of the good ole’ USA, lots of people would argue the period after WWII through the 1950's...

A couple of interesting stats about that era:

- The top marginal tax rate was 91% on income over $300K, today the top marginal tax rate is 35% - but now they’re convinced if we repeal Shrub’s tax cuts for these rich guys it’s somehow going to hurt them?

- In the 1940s, 33.9% of private, non-agricultural workers were members of unions, private sector union membership was at 7.6% in 2008 - but now unions are blamed for destroying our manufacturing base?

Consider - "Economist Timothy Smeeding summed up the current trend of rising inequality on the pages of the Social Science Quarterly:[22]
“Americans have the highest income inequality in the rich world and over the past 20–30 years Americans have also experienced the greatest increase in income inequality among rich nations. The more detailed the data we can use to observe this change, the more skewed the change appears to be... the majority of large gains are indeed at the top of the distribution.”

Yet, we continue to believe that giving more to those who have the most will "trickle down" to the rest of us... perhaps, this was the greatest bit of propaganda ever sold to the people.

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