From the Nation. The top graph shows the average income of the top o.o1% compared to the bottom 90%. The higher the peak the bigger the gap between the two groups. In 2006 you would need an income of over $10 million to make it into the top 0.01% while your income would have to be less than $100,000 to be in the bottom 90. The second graph shows the marginal tax rate over the same time period. Here is graph I created plotting similar data.
{Click on the image to take a closer look}
[tags]Income Inequality, United States, Marginal Tax Rate[/tags]
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It is any surprise that the Bush family so fond of Hubert Hoover that they name family members after him should recreate his policies which gave us the huge wealth disparities of the 20’s and the resulting great depression?
Worse by allowing those same people to own the media they were able to miseducate a whole generation of voters to get them to support the policies that had already been proven to be disastrous.
Now a whole generation will need to relive the depression as the bush’s abandon the USA for their wealth haven’s in the middle east.
The USA may never recover this time.
do you think it was an accident?
Nice work Catherine. Compared with the DOW (DJIA), it seems like tax hikes don’t hurt the economy. I know charting alone may be a narrow view, but with charts, claims that less tax on the super rich boosts the economy are mute.
See if you can detect a trend from the overlaying charts.
Hi resolution: http://www.techborder.com/mylife/economics/extremeinequalitychart1917-2006_with-dow.pdf
Low Resolution: http://www.techborder.com/mylife/economics/extremeinequalitychart1917-2006_with-dow.png
Sources:
http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average
http://stockcharts.com/charts/historical/djia1900.html
http://www.visualizingeconomics.com/2008/07/13/income-gap-and-marginal-tax-rate-1917-2006/
ОбщеизвеÑтно, что человек может вечно Ñмотреть на три вещи: как горит огонь, как течет вода и как работает другой человек.
So, you are implying that you want to take from the rich and give to the poor; exactly what President Obama is now doing to catastrophic proportions? Disney world for liberals! There are a lot of bad people in corporate boardrooms and executive suites that have raped and pillaged with impunity for the last twenty years or so. No question about it. But what about those of us that have gone to college and graduate school, worked hard, saved and built businesses? Why do you want to punish me for achieving the American dream? Why do you want to steal the money I have worked for and spend it on pie-in-the-sky social programs; programs that been shown to be failures since the LBJ years? What’s my incentive for success if I don’t get to enjoy the spoils?
JC for every one of you there are ten who did the exact same thing and got screwed. Screwed. You republicans just dont freaking get it.
Uhhhhh? What caused what?