Thursday, September 10, 2009

Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion

Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion — Center on Budget and Policy Priorities

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  1. UnknownSeptember 14, 2009 at 10:45 PM

    Hsiao-Wen Chang
    6th period

    The top 1% of American's should not hold that kind of economic power. Why should a handfull of people be more financially powerful that 400,000,000 people? What's happening with the income difference of the American people is born from the idea of "Trickle-Down Economics" where Republicans said that by giving tax cuts to the wealthy, the lower classes would eventually benefit.

    I don't see us benefitting. All those tax cuts have done is made it easier for the rich to keep their pockets lined. Besides the tax cuts, there are so many loop holes that only rich people with expensive accountants can take advantage of

    We need redistribution of wealth to solve this problem and level the playing field. These people most likely wouldn't be able to tell you what a recession is, yet we're experiencing one every day.

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