Never like in our unfair Reaganist country, dupe. Only we have a flat tax system- Everyone paying 20-30% in all taxes and fees, with the 1% and giant corps making out like bandits. Duh. And thanks for the corrupt GOP world depression...
We don't have a flat tax system. Studies have shown that we have the most progressive tax system in the industrialized world.
This data is from the mid-2000s, but not much has changed since then. The average OECD ratio between the share of taxes levied on the richest income earners and their share of market income is 1.11. In the United States, that ratio is as high as 1.35. No country in the industrialized world has a tax structure more progressive than the United States, despite your nonsensical claims about our system having a "flat tax,"
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 63 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
Unit Labor Cost increased 8% since 2009. That means wages are outpacing productivity.
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
Of course. Since their productivity is higher, they will naturally receive a greater share of income.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
If interest rates rise, people tend to save more. When they fall, they tend to save less.
That's basic economics. Notice how the savings rate coincides with interest rates…
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
The 1% are the most capable of reinvesting their income. Since the rich have always (historically) owned majority of stocks and bonds, it only make sense that their share of capital income.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
And? That doesn't tell you anything about the absolute conditions about the poor. The poor today are vastly wealthier than any point in time in our nation's history. We have so much wealth, it boggles my mind.
This is pretty much why I don't worry about income inequality.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Unlikely. More Americans are actually moving up the income ladder. This graphic from the Financial Times illustrates this phenomenon perfectly. More middle income adults move into higher quartile distribution pools.
There are far more wealthy people today than there were 44 years ago.
So this is where you get all your rhetoric from. Any more fallacies you need me to correct you on? Also, your like doesn't work, by the way. If you're going to post blatant inaccuracies, you can at least post the sources correctly.