keith
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- Aug 28, 2013
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Bull.....notice that during Bill Clinton's eight years of higher tax rates that the upper 1% was headed back toward a reasonable level and then along came George.
Are you capable of reading your own chart? look at the years 1994 till 2001 and notice the steep climb in the 1% versus the rest of us. Now take a deep breath, take off your partisan blinders and look at the chart. What you see is the 1% do much better than us in economic good times, such as 94 till 2001 and converge with the rest of us in bad times. This is exactly what you should expect. Capital investment is much riskier than labor investment. Capitalist disproportionately benefit in good economic times and suffer in poor economic times.
There is a reason, boys and girls, this chart ends six years ago, in the last recession the income of the top 1% ONCE AGAIN CONVERGED ON THE INCOME OF THE REST OF US.
Always ask yourself why somebody picks specific years to graph. Why does the chart not go out to 2012? The answer is simple. If the chart went out to 2012 it would give even more evidence that when the rich get richer so do the rest of us and when the rich get poorer so do we all. Trickle down economics works, a rising tide does raise all boats.