DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - CBO: The Rich Get Richer and the Poor Get Poorer

**Peapeuddedbaw** · 10-28-2011, 05:21 PM

Here is a snapshot of the new CBO Study on Income increase between 1979 and 2007:

Congressional Budget Office - Trends in the Distribution of Household Income Between 1979 and 2007

The top 1% increased 275%
The bottom 20% increased 18%.

Let's call a spade a spade-the report is clear that government tax and other policies helped redistribute wealth from the bottom to the top.

There is a redistribution of wealth alright-from the bottom to the top. This stands "trickle down" economics on its head.

These reports are remarkably dumb, but are great fodder for those who what to make arguments about worsening income inequality. Just by methodological design, there is no way under most any policy to yield a different result.

A dose of common sense and skepticism is needed here.

10-28-2011, 05:21 PM	#2
Peapeuddedbaw Join Date Oct 2005 Posts 426 Senior Member	Here is a snapshot of the new CBO Study on Income increase between 1979 and 2007: Congressional Budget Office - Trends in the Distribution of Household Income Between 1979 and 2007 The top 1% increased 275% The bottom 20% increased 18%. Let's call a spade a spade-the report is clear that government tax and other policies helped redistribute wealth from the bottom to the top. There is a redistribution of wealth alright-from the bottom to the top. This stands "trickle down" economics on its head. These reports are remarkably dumb, but are great fodder for those who what to make arguments about worsening income inequality. Just by methodological design, there is no way under most any policy to yield a different result. A dose of common sense and skepticism is needed here.
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