Is This Good For the country?

Consider: 

• In 2911, household income fell to the lowest level in 16 years.
• The gap between the rich and the poor is larger than in the past forty years.
• Corporate profits rose to their biggest share of national income in 70 years.
• Worker’s wages fell to their smallest share in 70 years.
• Wealth is concentrated more at the top than income.
• The wealthiest 1% of Americans own more than 35% of the nation’s household wealth.
• That same 1% owns 38% of the nation’s assets.
• Three quarters of children raised in the bottom 20% of income brackets will remain stuck in those brackets for their entire lives.
• Less than 4% of people in the bottom bracket can expect to make it to the top.

 Also Consider:

• In the 1950’s under Eisenhower, a Republican, income over $400,000 was taxed at 91%
• In 1955, after taking advantage of loopholes, the top 400 paid 51.2% of their income in federal income tax.
• In 2007 the top 400 had an average tax bill of 16.6%
• Those 400 reported average income $345,000, more than 25 times the top income in 1955.
• The tax rate on $4,000,000 or $400,000,000, or even $4,000,000,000 is the same as $400,000.  WHAT HAPPENED TO A PROGRESSIVE INCOME TAX!!!