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To: John Koligman who wrote (3330)12/17/2007 3:08:38 PM
From: John Koligman  Respond to of 42652
 
*OT* Also, Peter, this article differs with the percentage you give for the top 1%, you say about 40%, they say a bit over 27%... Either way, the Steven Schwarzmans of the world are enjoying quite a tax party - they make billions and pay 15%...

John



To: John Koligman who wrote (3330)12/17/2007 4:12:10 PM
From: Peter Dierks  Read Replies (1) | Respond to of 42652
 
OT:

Recent IRS data shows that the rate of the rich getting richer slowed dramatically during the first half of the current decade compared tot he 1990's.

This article shows it, but the meat is cut off in the free preview.
online.wsj.com

Here is the missing information:
The share of the richest 1% jumped to 20.8% of total income in 2000, from 14% in 1990, but increased only slightly to 21.2% in 2005. This makes it hard to pin their claim of “rising inequality” on the Bush tax cuts, though the income redistributionists are trying. By this measure, the Clinton years were far worse for “inequality.”



To: John Koligman who wrote (3330)12/17/2007 6:49:27 PM
From: TimF  Read Replies (1) | Respond to of 42652
 
OT

And based on data like this the very rich are getting a great deal and should pay even more.

Data can show that they are getting very rich. It doesn't and can't show that they should pay even more. "Is" by itself doesn't imply "aught". "Is" combined with some moral rule or norm might imply aught, but than you have to argue for that moral rule.

Jared Bernstein, an economist at the Economic Policy Institute in Washington who characterizes the Bush administration’s policies as YOYO economics, based on You (Are) On Your Own

A rather silly contention considering social spending has greatly expanded under Bush.