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Chart data information from the Congressional Budget Office....
I want everyone to take a slow hard look at those two charts. The richest 1% of Americans have done outrageously well over the last 30 years, and especially so over the last 20 years. The rest of Americans, however, have either seen their incomes flatline, or decline during the same period.
Now, I suppose one could attempt to make a case that only the top 1% over the last 20 years have properly strapped up their rugged individualist boots....and the rest of Americans are just not trying or working hard enough. That is often the fictional dreamscape which conservative supply siders love to dream out loud about. But that's all it is, a dream. The above charts, on the other hand, present the evidence...the truth of the matter of income and wealth disparity in the U.S. The richest in America have never had it so good, while the rest of us are lucky to maintain our flatlined incomes.
The charts illustrate just exactly what "class warfare" looks like. One tiny group of Americans, paying the lowest tax rates in 60 years, have far outdistanced the other 99% of us in income and wealth. In this class war, which has been going on for over three decades now, one class of Americans...the richest 1%....have been trouncing the rest of us.
With that introduction to the subject, let's take a look at what Very Serious GOP elected officials think "class warfare" looks like.
President Obama will introduce a plan today to raise taxes on those very same top 1 percenters as seen in the above chart. Obama will ask the unconstitutional scapegoat, the "super committee", to consider cutting government spending over the next ten years by $2 trillion and.....
The White House signaled its approach Saturday by highlighting a proposal in the president’s plan that would set a minimum tax rate for people earning more than $1 million.
The measure — Obama is going to call it the “Buffett Rule” for billionaire investor Warren Buffett — is designed to prevent millionaires from using tax-avoidance schemes to pay lower rates than middle-income taxpayers. Buffett has complained that he and other wealthy people shouldn’t be paying a smaller share of their income in federal taxes than middle-class taxpayers do.
Americans represented in the above disparity charts by the top orange line will be asked by Obama to pay at a rate equal to, or above, the rate their employees pay. Doesn't seem unreasonable. The few Americans who have left the rest of us in the dust of flatlined incomes and wealth accumulation over the last 30 years....Obama is recommending....should pay a little more into the Treasury in order to help the nation during the Great Recession. It's not like these millionaires or better don't have the money.
I consider this proposal by Obama as a timid baby-step, if that, in rectifying the economic disparity seen in the above charts. But to the leaders of the Republican Party, what Obama will recommend today is nothing short of full metal-jacketed "class warfare."
“It adds further instability to our system, more uncertainty, and it punishes job creation and those people who create jobs,” said GOP Rep. Paul Ryan of Wisconsin, the House Budget Committee chairman. “Class warfare may make for really good politics but it makes for rotten economics,” he told Fox News Sunday.
There you have it. "Class warfare", to the GOP's new "idea man" and writer of the Roadmap to American Ruin, Paul Ryan.....is asking those represented by the orange lines in the above charts to pay a bit more in taxes. That's what the faith-basers call any requests that the top 1% pay more in taxes...."class warfare."
The fact that the top 1% have left the rest of us in their economic-orgy of dust over the last 20 years....as the charts demonstrate...doesn't cause Ryan to reflect on the possibility that what really has been happening in America lately is that the top 1% are getting exponentially richer while paying a smaller tax rate than they have in over 50 years. Oh, no. If there is any class warfare going on, according to WonderBoy Ryan, it consists of asking the top 1% to pay a little more in taxes.
Which once again illustrates how today's GOP is nothing more than a tool of those represented above by the orange line. Yes, there is class warfare going on in America. The above charts provide the tracking data of the class war. The richest 1% of Americans, led in the class war by their bought-and-paid-for GOP lackeys (some Democrats too), have been plundering the rest of us for three decades.....stomping us underfoot. Decades of giveaways and special treatment to and for the top 1% have left the rest of us reeling.
Now is the time to fight back.