The Question Conservatives Can’t Answer
By Paul Buchheit | July 26th, 2011 | 29 Comments
The following fact was sent to numerous conservative pundits, politicians, and profitseekers:
Based on Tax Foundation figures, the richest 1 percent has TRIPLED its share of America’s income over the past 30 years. Much of the gain came from tax cuts and minimally taxed financial instruments. If their income had increased only at the pace of American productivity (80 percent), they would be taking about a TRILLION DOLLARS LESS out of our economy.
David Fitzsimmons / Arizona Daily Star (click to view more Fitzsimmons cartoons)
And a question was posed:
In what way do the richest 1 percent deserve these extraordinary gains?