Saturday, August 24, 2013

What's wrong with income redistribution?

The Republican Party and its talking heads on TV and radio denounce the Democrats daily for advocating "redistribution of wealth." Democrats want to steal money from the makers and hand it over to the takers (psst: especially Black and Brown "takers").

Next time you hear a friend or relative soapboxing about this, ask them a simple question:

How do they account for the fact that since 1979, the inflation-adjusted income of the richest 1% has soared at 26 times the rate of folks in the middle class?

Sure looks like wealth redistribution to me--only not by Democrats.

But Republicans tend to flatly deny statistics like the one I cited here, gotten from financial journalist Ali Velshi on his new AlJazeera news program. And if you say you got it from AlJazeera, well, that's like saying you got it from Sadam Hussein.

But how about the Congressional Budget Office (CBO)? The right wing quotes the CBO part of the time and then denies its validity the other part (when they don't like the figures).

But for what it's worth, check out the CBO's report "Trends in the Distribution of Household Income Between 1979 and 2007."

For example:

Shares of Income After Transfers and Federal Taxes, 1979 and 2007
The share of income going to higher-income households rose, while the share going to lower-income households fell.

"The rich get rich and the poor get poorer..."

See what sorts of mental gymnastics your right wing friends and acquaintances and relatives go through as they try to fit the facts into their anti-Democratic Party narrative.

Despite the simple fact that there is a class war going on all right, and you can see the results in that chart. It's the 1% against the 99%, and they've won and we've lost.

So far.


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