Mind the Gap
August 28th, 2008 Chris
Tags: economics | Comments Off
In lieu of real posting, here’s an excerpt from a discussion I’m having on a message board:
Didn’t trickle-down economics fail pretty spectacularly under Reagan? Look, the the gulf between the rich and poor makes us look like we’re back in the roaring twenties:
In the last 30 years, the real income of the median household only rose 13 percent, but the income of the top 0.1% of Americans rose 296 percent. The capital gains tax rate is currently at its lowest rate ever (only 15%) Somehow, I just can’t feel like the ultra-rich are being squeezed to death.
(graph via Krugman)