Monday, October 20, 2008

Let's talk about the re-distribution of wealth.

Sen. McCain has been very vocal lambasting Sen. Obama's tax plan as a "redistribution of wealth".

Let's look at the data for a moment.

Since 1981 - spear-headed by Reagan's "trickle-down" economic theories, wealth has been redistributed.
In 1981, median household income was $40,573. In 2006 (latest figure available), it was $48,201. (Both cited in 2006 dollars).
This represents an 18.8% increase over 25 years.
In 1981, the 95th percentile of household incomes was $117,419. In 2006 (again, latest figure available), it was $174,012. (Both cited in 2006 dollars).
This represents a 48.2% increase over 25 years.

The rich have been getting richer relative to the median!

So, yes - let's talk about the redistribution of wealth in America!

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