In keeping with my fascination for figures, I have a few more for those sharing that interest.
Forty years ago the richest 1% of Americans made 8% of the nations income.
Now, in 2010 the richest 1% of Americans make 26% of the nations income!
Can you see a trend here?
Once upon a time CEO's made 40 to 50 times as much as the average worker in their companies - too much I agree. Now, they make 500 times as much - and more!
And these unbelievably rich people want even more money - and by God, we want to give it to them! Can you believe that? It seems that everyone is intent that the richest 2% of Americans should continue to get the tax cut that George W Bush gave them 10 years ago. Even G.W.Bush knew that we could not keep it up indefinitely, so he limited it to 10 years.
But we, in our superior knowledge, say no they are not rich enough yet, they deserve even more of our money, and we are prepared to borrow another almost one Trillion dollars from China to give it to them!
Help me out here, don't we have some problems here? A big debt, how will this be helped by adding another Trillion dollars to it to give to the already richest people on Earth? A big deficit, same question. By allowing the Bush tax cuts to expire - even just for the richest 2% of Americans - would solve the Social Security, and Medicare shortfall for at least the next 75 years. (And the "added" tax by allowing the tax cuts to expire would be only 4% extra tax) They have enjoyed these tax cuts for 10 years now. If allowing the Super Rich to escape paying their fair share of taxes were going to provide thousands of jobs and pull us out of this deficit and debt wouldn't that have happened by now? After 10 years of it! So how is letting them get away with not paying their fair share going to pull us out now? It didn't before! Why will it work now? Please tell me.
The richest 1% of Americans pay only 16% of their income in taxes! Less than you and I pay! Why should we pay more tax than people who make hundreds or even thousands of times as much money as you and I make?
There are many many people making a Million dollars a year, 10 Million dollars a year, 100 Million dollars a year and some even making a Billion dollars a year. And we want to give them a tax break! Give me a break! They have not produced the promised business start ups and jobs after having 10 years of tax breaks. They are not going to do it with another 2 years of tax breaks. I guarantee it. And if you believe that they will - well I have this bridge for sale.