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"The people who cast the votes don't decide an election; the people who COUNT the votes do." -- Joseph Stalin

Monday, April 18, 2011

In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved

ThinkProgress » REPORT: In 12 Years, Income For Richest 400 Americans Quadruples, Tax Rate Nearly Halved

During the Eisenhower and Kennedy years, America's economy was booming. The rich paid 90% on their income taxes, that's right, 90%. They were still very rich and their tax contributions helped build a strong infrastucture, and this country expanded with new roads and highways, schools and hospitals, etc. The economy was flourishing.

We were doing very well during the Clinton years as well and he left us with a huge surplus. The rest is history. George W Bush gave away that surplus to his wealthy cronies that helped him buy first the Republican nomination, then the election. Since that wasn't enough, Bush opened the southern borders to illegal immigrants and at the same time outsourced our best paying jobs to places like India. That still wasn't enough to insure that the US middle class only earned wages on a par with most third world countries so he started two wars -- off the books.

Bush was wildly successful. He has decimated the American economy and has sent the US dollar on a downward spiral that will end with the loss of its status as the world's reserve currency. This is an urgent warning to all: Start exchanging your cash for silver and gold now, before it is too late.

The Candid Blogger



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