Economic Stimulus

Dave Barry explains tax rebates:

Q. What is an Economic Stimulus Payment?
A. It is money that the federal government will send to taxpayers.

Q. Where will the government get this money?
A. From taxpayers.

Q. So the government is giving me back my own money?
A. Only a smidgen.

Q. What is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV set, thus stimulating the economy.

Q. But isn’t that stimulating the economy of China?
A. Shut up.

This country is trillions of dollars in debt, and we’re handing out money like it’s growing on trees. Way to be fiscally responsible, politicians.

Inequality

These three graphs say a hell of a lot about inequality in America today.

1) Percent of total wealth and income owned by US households. Note that the top 5% own nearly 60% of the wealth. The bottom 40% owns just 0.2% of the weath.

2) The share of the nation’s total income owned by the wealthiest 10%, over time. The last time we saw this kind of divide was prior to and during the Great Depression.

3) CEO’s pay as a multiple of the average worker’s pay. In 2005, the average CEO made 400x what the average worker did. Are their contributions really that much more valuable?