Stop coddling the rich | Arkansas Blog

Tuesday, August 3, 2010

Stop coddling the rich

Posted By on Tue, Aug 3, 2010 at 10:32 AM

Sen. Bernie Sanders makes the case for a reasonable estate tax. Part of his pitch:

The United States has the most unequal distribution of wealth and income of any major country. Today, the top 1 percent of wage earners earn more income than the bottom 50 percent; and the top 1 percent has more wealth than the bottom 90 percent.

During the Bush administration, the middle class saw a $2,200 drop in median family income, down to slightly more than $50,000. Meanwhile, the 400 wealthiest families’ income more than doubled, while their effective income tax rates were slashed almost in half during the past 15 years. The wealthiest 400 Americans have accumulated $1.27 trillion in wealth, while the highest-paid 400 Americans had an average income of $345 million in 2007. As a result of Bush tax policy, they pay an effective income tax rate of 16.6 percent, the lowest on record.

Tags: , ,

From the ArkTimes store

Favorite

Comments (11)

Showing 1-11 of 11

Add a comment

 
Subscribe to this thread:
Showing 1-11 of 11

Add a comment

More by Max Brantley

Readers also liked…

  • Auditor Lea caught not telling the truth

    State Auditor Andrea Lea, who began her tenure in statewide office with a degree of competence unseen in some other Republican counterparts (think Treasurer Dennis Milligan particularly), is becoming more deeply mired in a political scandal.
    • Mar 4, 2016
  • 'Million-Dollar Thursday': A visit to Sherwood's hot check court

    We take a visit to the weekly hot check court in Sherwood District Court, the subject of a recent civil rights lawsuit filed by ACLU Arkansas and others, who say the system there results in a modern-day debtor's prison
    • Aug 25, 2016
  • Another Republican miracle-working governor

    Great piece in Washington Post on the budget crisis in Louisiana. Big tax cuts and corporate welfare will do that to a state, particularly to a state whose previous governor, Republican Bobby Jindal, refused to join the Obamacare-funded Medicaid expansion. There's a lesson there for Arkansas.
    • Mar 4, 2016

Most Shared

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation