Former Labor Secretary Robert Reich said he could explain the problems with the economy in less than 2 minutes, 15 seconds—and he did it (with illustrations to boot).
MoveOn.Org video link:
http://front.moveon.org/scribbling-sharpie-illustrates-the-truth-about-our-economy/?id=28085-18285015-zYtipbx
I particularly like the way the taxes for the very wealthy have been cut in half since 1980 (70% to 35%).
ReplyDeleteHowever, if they are paying on capital gains at 15% -- that is 55% less than the 70% tax bracket.
Warren Buffet says his "effective tax rate" is less than his secretary's tax rate... and unlike the Koch Brothers and friends, Buffet thinks that is wrong.
Then, with a great deal of help from the media, we now have all these classes of workers pitted against each other, fighting over the scraps that are left for the former middle class...
Makes me want to kick something!