You should see one particular chart from the Congressional budget office.
Here’s what it says:
The lowest two quintiles (lowest 40%) of wage earners averaged $17,400 in 1979.
The Top One percent of wage earners averaged $167,500 in 1979.
By 2007, the 27th year of the Neoconservative Era, the bottom two quintiles made $20,500. That’s an [...]
Entries Tagged as 'Social Security and Medicare'
Raise Taxes or Cut Entitlements–You Decide.
July 2nd, 2010 · 1 Comment · Capitalism, Economics, Politics, jobs, taxes
Tags: CEO pay·Corporatism·cuts in Medicare spending·cutting taxes·cutting the national debt·deficit spending·entitlements·government deficits·raising taxes·Social Security and Medicare·the national debt·the top 1% of income earners
Unemployment, Job Creation, and Back-of-the-Envelope Economics
March 10th, 2010 · No Comments · General, Health Care, Politics, jobs
Do you want a job? Do you need a job or know anyone who does? Do you think that there are fewer jobs than are necessary for the workforce right now?
Sounds stupid, doesn’t it? Sounds ridiculous. Apparently not to Senators John Kyl of Arizona and Sentor Jim Bunning of Kentucky. Bunning held up unemployment insurance [...]
Tags: Bush recession·domestic manufacturing·Economics·health care reform·job creation·jobs·national debt·recession·Social Security and Medicare·unemployment
Who Is Going to Pay the National Debt?
February 17th, 2010 · No Comments · Economics, Politics
There was a wonderful line once in an old movie. A very savvy and skilled old billiards player, a hustler, was about to take the money from a slick and smart-alecky young man who had just ridden into town. And as the hustler chalked his cue stick, and leaned over the table to take [...]
Tags: Deficit reduction·Neocon programs for deficit reduction·Pete Peterson·Social Security and Medicare·tax cuts·tax increases