Tax Burden of Top 1% Now Exceeds That of Bottom 95%

[noonereal]

http://www.taxfoundation.org/blog/show/24944.html

Not mentioned in the article is how much income the top 1% has vs. the other 99%.

Any guesses?

[Charles]

"Are you sleeping, are you sleeping, bourgeoisie, bourgeoisie
When the revolution comes we'll kill you all with knives and guns
bourgeoisie, bourgeoisie"

Sung to the tune of "Three Blind Mice"

Picked this little ditty up from the Democratic Socialists website...back when they used to link themselves with the Progressive Caucus.

By all means, murder the super rich in their sleep and steal all of their money...but it won't be enough. Then you can do the same to the rich...but it still won't be enough. Well, by God, the middle class has had it too good for too long, so give 'em the same...but the books still don't balance.

So when you're done, you have the poor, and the autocrats.

Wasn't it Kerry who said that the United States was founded "on the principles of progressive taxation"?

Stealing from people who have more than you isn't the answer. Living within your means is. And that goes for governments too.

Chas

[noonereal]

fair enough, personally I have no opinion as of yet as I don't know what what the top 1% worth is vs the bottom 99%.
For me that is an important factor.

[Charles]

Does this mean that we have reached a mutual agreement? That we can hand our pistols to our seconds, and leave the "Field of Honor" without a shot being fired?

This has been an incredible day indeed!!! Yet, there is always tomorrow.

Take care, my friend,

Chas

[noonereal]

Noonereal is seen leaving the "Field of Honor" singing to himself,


"Are you sleeping, are you sleeping, bourgeoisie, bourgeoisie
When the revolution comes we'll kill you all with knives and guns
bourgeoisie, bourgeoisie"

(To the melody of Three Blind Mice.)

[Sandy G]

The jig's up when the poor people figger out they can vote themselves a raise at the expense of the "Rich", courtesy of the gummint...Think we've reached that point...

[Charles]

Originally Posted by Sandy G

The jig's up when the poor people figger out they can vote themselves a raise at the expense of the "Rich", courtesy of the gummint...Think we've reached that point...

It ain't just the poor, Sandy, don't ferget all of them "bureaucrats" who's got their teeth sunk into th' public tit.

I would imagine that for every "poor boy" on relief...gettin' peanuts, you've got a gubbmitt regulator lookin' after 'em...who's doing quite well, thank you.

Like I've said before, the poor are a commodity. And they, and the regulators, have never figured out that the government does not produce "wealth".

And they ain't never figgered out that tits run dry.

Chas

[noonereal]

Originally Posted by Charles

Like I've said before, the poor are a commodity.

Well put.

[JJIII]

Table 7: Share of capital income flowing to households in various income categories
Top 1% Top 5% Top 10% Bottom 80%
1979 37.8% 57.9% 66.7% 23.1%
1981 35.8% 55.4% 64.6% 24.4%
1983 37.6% 55.2% 63.7% 25.1%
1985 39.7% 56.9% 64.9% 24.9%
1987 36.7% 55.3% 64.0% 25.6%
1989 39.1% 57.4% 66.0% 23.5%
1991 38.3% 56.2% 64.7% 23.9%
1993 42.2% 60.5% 69.2% 20.7%
1995 43.2% 61.5% 70.1% 19.6%
1997 45.7% 64.1% 72.6% 17.5%
1999 47.8% 65.7% 73.8% 17.0%
2001 51.8% 67.8% 74.8% 16.0%
2003 57.5% 73.2% 79.4% 12.6%
Adapted from Shapiro & Friedman (2006).

Here are some numbers I found after a short search.

[noonereal]

If I read this right (help me on this) the rich are getting richer and the poor poorer.