Monday, June 06, 2005

Unabated Concentration of Wealth

Daily Kos :: The Hyper-Rich are Very Different from You and Me

"Meanwhile, the top 0.1% (in other words, the top thousandth of all taxpayers, 145,000 in all) reap an astonishing 15% of the Bush tax cuts. These folks all earn at least $1.6 million a year, so I can see why they really needed these tax cuts. And that's not even counting the money they have stashed away in tax shelters. Yeesh."

For the 100th time, red-stater zombies: if you are in the middle class, you have a giant target on your back, and Bush is taking direct aim.

UPDATE: This quote in particular from the Times says it all to me:

"From 1950 to 1970, for example, for every additional dollar earned by the bottom 90 percent, those in the top 0.01 percent earned an additional $162, according to the Times analysis. 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."

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