SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (43990)7/2/2010 8:49:39 PM
From: TimF  Read Replies (1) | Respond to of 71588
 
Re: "The wealth continues to be transferred away from the wealthy, not to the wealthy."

That claim is completely and utterly ridiculous when trends are examined over a longer term.

No its completely true when looked at for any term in recent decades, and almost certainly in any specific year, or collection of years, since the US federal income tax started.

The wealthy pay more in taxes than they receive from the government in payments, therefore wealth is transferred away from them.

Getting wealthier, even having a larger percentage of the total wealth (esp., but not only, in a growing economy where people in general can have more even if the wealthy have a larger percentage) != having money transferred to you.



To: DuckTapeSunroof who wrote (43990)7/25/2010 1:17:24 PM
From: TimF  Read Replies (1) | Respond to of 71588
 
Another point about that chart. Its interesting that they used "share of income gains" rather than "income", it makes the actual change look much larger than it is. Someone who isn't that sophisticated or who doesn't pay close attention to it would see the chart and likely think that the bottom 90% had about 6 and a half times as much as the top 1% in the 60s but that the ratio has nearly reversed now, but that isn't even close to being true.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News